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Month: August 2021

BetVictor to probe internal password error

first_img28th June 2018 | By contenteditor Strategy Email Address BetVictor to probe internal password error Tags: Mobile Online Gambling BetVictor has launched an investigation after it was revealed that a password list for its internal systems was made available to view on its betting platform. The two-page document featured a list of links to back office systems, including a number of usernames and passwords. Security researcher Chris Hogben uncovered the document through BetVictor’s customer support pop-up search box. Hogben told ZDNet that the document, entitled ‘Logins/Links to Back Offices – Internal’, contained passwords to the operator’s trading platform, ticketing system and the Experian identity verification service. According to Hogben, 11 of the passwords featured on the list were “weak” and easy-to-guess, while he also discovered that various other internal documents were accessible via the customer support box. “With access to any of these systems, it may be possible to access sensitive company information and potentially even user-specific data,” Hogben said. It is not clear how long the document was featured on the site, but Hogben said the file dated back to 2015. BetVictor has since taken the list down and issued a short statement in response to the revelation. The company said: “We are still investigating this matter with our third-party suppliers and cannot answer any specific questions at this point in time.”Related article: BetVictor adds new betting features to #PriceItUp’center_img Subscribe to the iGaming newsletter Topics: Strategy Tech & innovation BetVictor has launched an investigation after it was revealed that a password list for its internal systems was made available to view on its betting platform AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitterlast_img read more

VR tech to aid online and casino gaming growth

first_img VR tech to aid online and casino gaming growth Casino & games New Technavio survey points to rapid growth in VR gambling 10th July 2018 | By contenteditor AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Casino & games Tech & innovation Social gaming Technological advances, consumer expectations and industry innovation will be among the main drivers behind a huge rise in virtual reality gambling over the next four years, according to a new survey.Analyst firm Technavio’s Global VR Gambling Market 2018-2022 predicts that the VR gambling market will register a compound annual growth rate of close to 55 per cent by 2022. Incremental growth will be $360m (€308m) between 2017 and 2022.Technavio believes that while operators such as 888 and William Hill have embraced some VR gambling services, gamers remain “uncertain” and “are yet to adopt [VR gambling] on a wide scale”.However, it expects this to change over the next few years, as operators in the industry embrace new technology, and VR will be increasingly important for both online and land-based gambling companies.A Technavio spokesperson told iGamingBusiness.com: “With the addition of gamification in programmes for games, both brick-and-mortar and online casinos are trying to make conventional formats for gambling more appealing to millennials.“Casinos are adopting VR technology, in which players can compete with each other for cash prizes in spirited VR tournaments. One such example is the introduction of ‘Virtual Zone’ by Boyd Gaming, in partnership with HTC and IGT.”Technavio believes that mature markets such as the UK will lead the way, pointing to SlotsMillion launching the country’s first 3D VR casino after owner ALEA was licensed. It added that technological uptake could mean other markets also prove significant, with “rapid pace” expected in China due to it being the largest consumer base for VR headsets.Interestingly, Technavio claims that in compiling its report it found evidence that VR can be a cure for gambling addiction. It told iGamingBusiness.com: “There are cases where therapists are authorised to provide gambling addicts with a VR environment, catering to the latter’s needs.”Last week ALEA, operator of SlotsMillion, which it claims to be the world’s only 3D VR online casino, and UK brand LadyLucks, closed a deal with Greentube adding more than 50 slots to its portfolio. Subscribe to the iGaming newsletter Email Addresslast_img read more

Dutch gambling fines hit record €1.7m in 2018

first_img Topics: Finance Legal & compliance Dutch gambling fines hit record €1.7m in 2018 Dutch gambling regulator Kansspelautoriteit (KSA) has revealed that it issued a record €1.7m (£1.5m/$1.9m) in fines to companies that breached rules and regulations throughout 2018.The regulator handed out a total of 23 sanctions over the course of the last year, including seven administrative penalties, 12 penalties and four charges under administrative coercion.An administrative penalty can be imposed without the intervention of the Public Prosecution Service or a judge, whereas a penalty is issued when the offender fails to cease an activity that violates regulations within a certain period. Administrative coercion refers to the KSA ordering an offender to take action in order to ensure they are no longer in breach of the country’s gambling regulations.Of the seven administrative fines, five related to online gaming. Betclic Everest Group’s Bet-At-Home, Betsson subsidiary Corona, Mr Green operator MRG, CyberRock Entertainment and its Honeydew subsidiary, and William Hill were all found to have illegally targeted Dutch players online. Online gambling is currently prohibited in the Netherlands, with a bill to re-regulate the market stalled in the country’s legislature.The KSA also issued an administrative fine to the owner of the internet café ITC Lounge for offering sports betting services, as well as an unnamed individual for operating two slot machines without a licence.Financial penalties continue to increase in the Netherlands since the KSA was established in 2012. The 2018 total is significantly higher than just over €1m in 2017 and more than four times the €400,000 of fines issued in 2016.Meanwhile, the KSA has also revealed it revoked a total of 37 gaming machine operating licences in 2018. The regulator did not disclose the full details of each ruling, but did state that in some cases the licences was terminated at the request of the licence-holder as a result of the licensee shutting down.However, some of the companies that have been fined in recent months have hit back at the rulings.Last month, William Hill told iGamingBusiness.com that it would be appealing a €300,000 fine from the KSA. The regulator penalised the bookmaker for offering online games of chance to Dutch consumers via its WilliamHill.com website and two mobile applications. Betsson also confirmed it is appealing against a €300,000 fine for targeting Dutch players via its Corona subsidiary.Image: Marco Verch Email Address 2nd January 2019 | By contenteditor AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Finance Tags: Online Gambling Regions: Europe Western Europe Netherlands Subscribe to the iGaming newsletter Kansspelautoriteit issued sanctions on 23 occasions during the past yearlast_img read more

New Jersey sports betting revenue rises again in August

first_img New Jersey sports betting revenue rises again in August Sports betting revenue in New Jersey was up 174.0% year-on-year in August, while the US state also saw revenue increases within its online gambling and land-based casino markets.Revenue from regulated sports wagering in New Jersey amounted to $25.2m last month, up from $9.2m in August 2018 and also an improvement on $17.9m in July of this year.Sports betting handle for the month stood at $293.6m, with $249.2m of this total generated through online sportsbooks. The remaining $44.4m came courtesy of land-based operations in the state.Meadowlands Racetrack and Flutter Entertainment’s FanDuel remain some way out in front in the New Jersey market, posting revenue of $11.9m for August.Resorts Digital and partner DraftKings followed in a distant second with $6.7m in sports betting revenue, while Monmouth Park and William Hill ranked third on $2.1m.Read the full story on iGB North America. Subscribe to the iGaming newsletter Regions: US New Jersey 13th September 2019 | By contenteditor Sports betting revenue in New Jersey was up 174.0% year-on-year in August, while the US state also saw revenue increases within its online gambling and land-based casino markets. Topics: Casino & games Finance Sports betting Tags: Online Gambling AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Casino & games Email Addresslast_img read more

MGM on the hunt for new CEO as Murren announces departure

first_imgCasino & games 14th February 2020 | By contenteditor MGM on the hunt for new CEO as Murren announces departure AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter MGM Resorts International has announced that its chairman and chief executive officer Jim Murren is to step down, bringing to an end almost 12 years in charge of the operator.  MGM Resorts International has announced that its chairman and chief executive officer Jim Murren is to step down, bringing to an end almost 12 years in charge of the operator. Murren was appointed chairman and CEO of MGM Resorts in 2008, having worked for the business since 1998, and will serve in his current roles until a successor is appointed. He is described as having had a transformational impact on both MGM and on Las Vegas, having been an early advocate for online gaming, then playing an instrumental role in bringing professional sports to the city. MGM noted he was heavily involved in the building of Las Vegas’ first sports stadium, the T-Mobile Arena. He also played a role in bringing National Hockey League franchise the Las Vegas Golden Knights, Women’s National Basketball Association team the Las Vegas Aces, and National Football League franchise the Las Vegas Raiders to the city, it added.The operator also highlighted his support for diversity, inclusion and sustainability in Las Vegas. He oversaw a period of responsible construction, resulting in CityCenter, one of the world’s largest green developments, and throughout his tenure MGM Resorts was recognised by the publication Diversity Inc as a key champion of workplace diversity.Read the full story on iGB North America.Image: Peter Harasty Photography Las Vegas, Nevada (Creative Commons)center_img Topics: Casino & games People Strategy Regions: China US Macau Nevada Email Address Subscribe to the iGaming newsletterlast_img read more

Betfair ups NRL commission to withstand new costs

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Regions: Oceania Australia 27th May 2020 | By contenteditor Betfair will once again allow exchange wagering on the Australian National Rugby League (NRL) after the two parties agreed finalised a new integrity deal, though the agreement has forced the operator to increase the commission it charges on customer winnings. Email Address Topics: Finance Sports bettingcenter_img Subscribe to the iGaming newsletter Betfair will once again allow exchange wagering on the Australian National Rugby League (NRL) after the two parties agreed finalised a new integrity deal, though the agreement has forced the operator to increase the commission it charges on customer winnings.While the terms of the new partnership have not been disclosed, it comes after Betfair suspended NRL markets in February this year, arguing that the fees being demanded by the league would mean offering odds on the sport was long longer viable.As a result of this new deal, punters will now face a market base rate (MBR) of 10% for the remainder of the 2020 season, an increase on the 6% commission rate that had been in place for 2019. This means that if a bet stands to make a £100 profit, the player will have £90 plus their stake returned.According to the operator, the rise was unavoidable as if the MBR had remained at 6%, then the NRL would have taken more than two thirds of Betfair’s revenue earned from rugby league betting markets in product fees.Betfair added that when accounting for operating costs and relevant federal state and taxes, including point of consumption taxes, offering markets on NRL events at the old MBR would not be financially viable.“While we are disappointed that a change to a 10% MBR has become necessary, we do congratulate the NRL for the work it has undertaken in getting the NRL season up and running again,” Betfair said.Betfair also noted that the new rate is four times more expensive than the 2.5% MBR it currently has in place with the Australian Football League Aussie rules football competition. Confirmation of the new MBR comes as the NRL prepares to restart its season after it was temporarily halted due to the novel coronavirus (Covid-19) crisis.The NRL will resume from tomorrow (28 May), with the AFL to follow on 11 June. Betfair ups NRL commission to withstand new costs Financelast_img read more

Eldorado reopens Missouri and Iowa casinos

first_img Eldorado Resorts has announced the reopening of three casinos in Missouri and two facilities in Iowa, following a period of temporary closure in response to the novel coronavirus (Covid-19) pandemic. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Casino & games Eldorado reopens Missouri and Iowa casinos Subscribe to the iGaming newsletter Regions: US Iowa Missouricenter_img Topics: Casino & games 3rd June 2020 | By contenteditor Eldorado Resorts has announced the reopening of three casinos in Missouri and two facilities in Iowa, following a period of temporary closure in response to the novel coronavirus (Covid-19) pandemic.The Isle of Capri Casino Hotel Boonville, Isle of Capri Casino Kansas City and Lumière Place Casino & Hotels in Missouri have all resumed operations, as have the Isle Casino Hotel Bettendorf and Isle Casino Hotel Waterloo in Iowa.Each location will adhere to new state-wide measures aimed at protecting both customers and staff, including regulations in Iowa that limit gaming capacity to 50% and a requirement to implement social distancing across the casino.Eldorado has also developed its own list of health and safety protocols that it will implement at all of its casino locations as and when they reopen.Read the full story on iGB North America. Email Addresslast_img read more

GAN benefits from US online shift to grow first half revenue

first_img Subscribe to the iGaming newsletter Gaming technology provider GAN saw the migration of US players to igaming almost double its second quarter revenue, helping the supplier to a 16.2% year-on-year increase in revenue for the first half of the year. Casino & games 21st August 2020 | By contenteditor Gaming technology provider GAN saw the migration of US players to igaming almost double its second quarter revenue, helping the supplier to a 16.2% year-on-year increase in revenue for the first half of the year.Over the three months to 30 June, almost all of the US land-based casinos were shuttered for a time, as a result of the novel coronavirus (Covid-19) pandemic. This saw players shift to online gaming, and resulted in GAN’s revenue for the quarter soaring 99.4% to $8.3m.This was driven by an 110.4% year-on-year rise in real-money igaming revenue to $5.7m. This broke down to $4.2m in software as a service (SaaS) revenue (up 99.1%), coupled with $1.5m in service revenue, a 148.9% improvement on the prior year. This was credited to customer launches, namely the roll-out of online casino for FanDuel and Parx Casino in New Jersey and Pennsylvania.GAN’s free-play solution, Simulated Gaming, also benefited from the shift online, with revenue up 79.1% to $2.6m, aided by the roll-out of an offering for the Snoqualmie Tribe in Washington State.The US accounted for $7.0m, or 84.6%, of the quarterly total, with a further $1.2m coming from Italy, $33,000 from the UK and Channel Islands, and $11,000 from the reset of the world. GAN said that after the Chickasaw Nation ended its partnership to operate the WinStar Casino brand in Europe, it does not expect to generate meaningful revenue from the UK, unless it signs up another partner for the product.“We were pleased to achieve revenues of $8.3m during the second quarter of 2020, a period during which nearly all of our land-based casino customers were forced to close their physical operations and when most major sporting events were cancelled as a result of the global pandemic,” GAN chief executive Dermot Smurfit commented.“Our business has proven resilient to these outside forces in recent weeks, and we believe GAN can greatly contribute to both our customers’ success and the accelerated secular shift to igaming as casino operators continue to be impacted by the pandemic.”Read the full story on iGB North America. Regions: US New Jersey Pennsylvania GAN benefits from US online shift to grow first half revenue Tags: Mobile Online Gambling Topics: Casino & games Finance Tech & innovation Social gaming AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Addresslast_img read more

Kambi chief executive Nylén reduces stake by 6%

first_img Subscribe to the iGaming newsletter Kristian Nylén, chief executive of sports betting supplier Kambi, has sold 45,000 shares in the company in order to repay a loan taken out in March 2020. Regions: Europe Malta Results published last week showed that Kambi expects revenue for the fourth quarter of 2020 to fall between €46.0m and €48.0m, meaning full-year revenue could rise 27.6% to €117.8m, despite the suspension of sports for much of the year. Finance The majority of the proceeds will be used to repay, with interest, a £1.2m (€1.3m/$1.6m) interest-bearing loan provided to Nylén by a subsidiary of Kambi in order to exercise options in March 2020. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 11th January 2021 | By Conor Mulheir Topics: Finance Sports betting Online sports bettingcenter_img Revenue for the quarter was up around 76% year-on-year, however expenses also rose to between €24.0m and €25.0m. The supplier said this was mostly due to the higher costs of stock options caused by the strong performance of Kambi shares. Email Address He remains a major long-term shareholder in the supplier, and owns 720,000 shares or 2.3% of the company, following the transaction. Kambi chief executive Nylén reduces stake by 6% Kambi’s share price increased 34.3% during Q4, ending the year at SEK393.4 (£35/€39/$48) per share. Full-year earnings before interest and tax is expected to be between €31.0m and €34.0m Tags: Kambi Kristian Nylén The loan was used to pay the option price and income tax due on the exercise of 300,000 share options issued to the chief executive in 2013.last_img read more

High Court to rule on payment of Football Index customer funds today

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter BetIndex went into administration less than a week after announcing a controversial change to its dividend structure that reduced customer payouts, with the Gambling Commission then suspending its operating licence on the same day. However, there was debate about the status of bets that were active at the time the platform was suspended, and the dividends – a form of winnings based on player achievements such as goals – that resulted from these bets. While the account could be used to reimburse all account funds, if dividends needed to be paid, it would be in a deficit by 22 April. 21st May 2021 | By Daniel O’Boyle Regions: UK & Ireland Tags: Football Index BetIndex Legal Other court documents show that BetIndex set out plans for administration in a board meeting on 5 March, meaning these plans were in place while players were still able to deposit and spend money. H&J Director Services 1 Limited will act as a representative for those who wish to see a later date selected, such as those with large sums staked on the site but low balances, who may receive significant dividends. The regulator later revealed that BetIndex had been under investigation for almost a year, but said it did not suspend the operator’s licence partly due to concerns that this may have accelerated its financial decline. Subscribe to the iGaming newsletter Documents show that a number of customers wished to push for a later date, and were especially opposed to the 11 March proposal. One customer noted that they “invested a significant amount of money a few days before [11 March]”, with a different customer noting that they spent £2,000 on that date itself. Documents for today’s hearing also detail the operator’s plans to relaunch the platform for the 2021/22 football season under new ownership and a pool betting licence – with customers who are owed money receiving a 50% stake as part of a Company Voluntary Arrangement (CVA). The operator confirmed that there would be a CVA to help return further customer funds earlier this week.  High Court to rule on payment of Football Index customer funds todaycenter_img In addition, these funds vastly outstripped the amount staked on the platform. The administrators estimated that the value of active bets comes to around £90m, with customers having staked £124.3m. Dates being considered for a cut-off are 11 March, which is when the business went into administration, 26 March and a point after 26 March. The administrators, Begbies Traynor, will argue for both 11 March and 26 March, having previously recommended 26 March. Another said that choosing an early date would be “a total waste of everyone’s time” as it was unusual for customers to keep much money in their accounts, while a further customer had £1.3m wagered on the platform, and has accrued £18,719 in dividend payments. Although the business’ outstanding liabilities did not outstrip its assets at the time of entering administration, it was incurring heavy losses, primarily due to high dividend payments. In December 2020, the business made a net loss of £5.8m, with dividends totalling £2.1m. In January 2021, BetIndex paid a further £2.4m in dividends and made a £3.3m net loss. Although the hearing will primarily concern the funds held in the player protection account, court documents also provided more information about the state of BetIndex’s finances.  Alongside the £4.5m fund for player accounts, which is currently held by the Viscount of the Royal Court of Jersey, the business held £7.2m in another bank account as of 24 March. The government Department of Digital, Culture, Media and Sport (DCMS) later announced an inquiry into the platform’s collapse, which will also examine the role of the Gambling Commission. As a result, the hearing will determine a cut-off date for active bets, with dividends to be paid up until the date of these bets. The hearing was initially set to be before the Insolvency List, but was raised to the High Court instead. Football Index customers will learn how the operator’s £4.5m player protection account are to be allocated in a High Court hearing today, as part of BetIndex’s administration process following its collapse in March. The money in the account is earmarked to pay for funds held in customer accounts when the platform collapsed, which totalled £3.2m when BetIndex entered administration on 11 March. Topics: Finance Legal & compliance Sports betting Legal Online sports betting Email Addresslast_img read more