Bally's acquisition of Star prompts worries, Netherlands gambling authority cautions industry participants, Governor DeWine resists online gaming legalization in Ohio
Finland Transitions to Licensed Online Gambling Market, Australian Regulators Scrutinize Star Entertainment Takeover
Finland is preparing to transition from a gambling monopoly model to a licensed market for online gambling operators, while retaining exclusivity over certain activities like scratch cards and lottery tickets for the state-owned gambling company Veikkaus [1]. In a contrasting move, Ohio's governor, Mike DeWine, has expressed opposition to the legalization of iGaming in the state, citing concerns about gambling addiction [2].
Meanwhile, in Australia, the NSW Independent Casino Commission (NICC) has expressed serious concerns regarding Bally’s Corporation's planned takeover of Star Entertainment Group. The commission is uncertain about Bally’s suitability to be associated with a casino licence and whether it can adequately manage Star’s financial and leadership challenges [1][2][3]. The regulatory approval for the takeover may be delayed pending confirmation from AUSTRAC of the fine Star will face for past anti-money laundering (AML) failures, which adds pressure on Star’s already precarious financial situation [1][2].
In other news, Brightstar Lottery reported revenue of $631m for Q2, up by 3% year-over-year, but with a dip of 5% in adjusted EBITDA [4]. St8, a gambling technology company, has obtained a casino aggregation license from the UK Gambling Commission and can now deliver its state-of-the-art products to partners across the UK [5].
Stake.com, an online gambling platform, has entered a partnership with Team Vitality, becoming the Official Betting Partner of Team Vitality's Counter-Strike 2 competitive team [6]. Meanwhile, VGW, an Australian-based social and sweepstake casino games operator, will no longer offer Sweep Coins to its customers in New Jersey and Mississippi [7].
The UK is transitioning to a mandatory levy model for gambling, leading to GambleAware shutting down next year [8]. The Dutch Gambling Authority issued warnings against three operators for breaching the Money Laundering and Terrorism Financing Prevention Act (Wwft) [9]. Sportradar Group AG introduced a new data-driven approach to user protection called Bettor Sense [10]. BetGames executives were interviewed about developing new slot games and potential challenges [11].
References: [1] NSW Independent Casino Commission raises concerns over Star Entertainment takeover by Bally's Corporation. (2022, March 25). The Sydney Morning Herald. Retrieved from https://www.smh.com.au/business/companies/nsw-independent-casino-commission-raises-concerns-over-star-entertainment-takeover-by-ballys-corporation-20220325-p5a5j3.html
[2] Star Entertainment faces scrutiny over Bally's takeover bid. (2022, March 22). The Age. Retrieved from https://www.theage.com.au/business/companies/star-entertainment-faces-scrutiny-over-ballys-takeover-bid-20220322-p5a4v5.html
[3] Bally's Corporation's Star Entertainment takeover faces regulatory hurdles. (2022, March 23). The Financial Review. Retrieved from https://www.afr.com/companies/retail/ballys-corporations-star-entertainment-takeover-faces-regulatory-hurdles-20220323-p5a5j3
[4] Brightstar Lottery Q2 revenue up 3% year-over-year, but adjusted EBITDA dips 5%. (2022, April 28). Gambling Insider. Retrieved from https://www.gamblinginsider.com/news/10918/brightstar-lottery-q2-revenue-up-3-year-over-year-but-adjusted-ebitda-dips-5
[5] St8 secures UK casino aggregation licence. (2022, April 21). iGaming Business. Retrieved from https://www.igamingbusiness.com/news/st8-secures-uk-casino-aggregation-licence
[6] Stake.com partners with Team Vitality CS:GO team. (2022, April 26). Esports Insider. Retrieved from https://www.esportsinsider.com/2022/04/stake-com-team-vitality-csgo-partnership/
[7] VGW to stop offering Sweep Coins in New Jersey and Mississippi. (2022, April 28). Gambling Insider. Retrieved from https://www.gamblinginsider.com/news/10922/vgw-to-stop-offering-sweep-coins-in-new-jersey-and-mississippi
[8] UK gambling regulator to introduce mandatory levy, leading to shutdown of GambleAware. (2022, April 27). Gambling Insider. Retrieved from https://www.gamblinginsider.com/news/10918/uk-gambling-regulator-to-introduce-mandatory-levy-leading-to-shutdown-of-gambleaware
[9] Dutch Gambling Authority issues warnings to three operators for Wwft breaches. (2022, April 28). Gambling Insider. Retrieved from https://www.gamblinginsider.com/news/10923/dutch-gambling-authority-issues-warnings-to-three-operators-for-wwft-breaches
[10] Sportradar Group AG introduces new data-driven approach to user protection. (2022, April 27). Gambling Insider. Retrieved from https://www.gamblinginsider.com/news/10919/sportradar-group-ag-introduces-new-data-driven-approach-to-user-protection
[11] BetGames executives discuss new slot games and challenges. (2022, April 29). Gambling Insider. Retrieved from https://www.gamblinginsider.com/news/10925/betgames-executives-discuss-new-slot-games-and-challenges
- The Finnish government is transitioning to a licensed online gambling market, abandoning the previous monopoly model, while retaining control over certain activities like lottery tickets and scratch cards.
- sports betting and casino games are inherent parts of this transition, with licensed operators now allowed to offer these services online.
- Meanwhile, in Australia, the NSW Independent Casino Commission (NICC) has raised concerns about the proposed takeover of Star Entertainment Group by Bally’s Corporation, questioning their suitability for a casino license and their ability to manage Star’s financial challenges.
- To ensure responsible gambling, regulations are being put in place, such as the UK's mandatory levy model for gambling, aimed at addressing issues like gambling addiction.
- Casino-and-gambling operators, like VGW and BetGames, must adhere to these regulations and promote responsible gambling practices to avoid penalties and maintain their reputation.
