$9.8bn

The American Gaming Association has provided an in-depth look into the casino gaming industry in the state of Oklahoma, as part of a ‘Get to Know Gaming’ event held in its capital city and Tulsa.

Providing an insight into the economic opportunities for communities across the state, it was revealed that the casino gaming industry supports 75,885 jobs statewide, in addition to having an annual economic impact of $9.8bn.

Hosting its Get to Know Gaming event in Oklahoma City, following a reception in Tulsa, the AGA also released ‘Casinos & Communities Oklahoma,’ an in-depth look at how the gaming industry supports local communities.

Bringing $4.3bn in wages into the state via the 141 tribal and commercial casinos, whilst also generating $1.7bn in taxes and tribal revenue share payments, the AGA also provided an insight into the unique value brought by tribal gaming.

£11.5m

Gaming Realms has agreed the £11.5m sale of UK real money operating subsidiary Bear Group to River iGaming, whilst also relinquishing its 30 per cent stake in River UK Casino and providing a permanent licence to its gaming platform.

It is expect that, subject to shareholder and regulatory approval, the transaction will be finalised in the year’s second quarter, with the sale price including the settlement of a contract deferment of £4.2m owed by River UK Casino to the group.

Gaming Realms stressed that it is to now focus upon game development and international licensing of its retained Slingo brand and slingo.com IP, which is to continue operating on the Bear Group gaming platform via a deal with River iGaming.

Furthermore, the transaction is to also provide resources for the repayment by Gaming Realms of a £3.5m loan from JPJ Group.

3

Melco Resorts and Entertainment is aligned with a growing industry trend, by pinpointing the prospects of securing a Japanese integrated resort licence as a key focus for the group moving forward.

With the country’s government set to issue up to three such licenses, Melco believes it is perfectly placed to play an active role in the development of the next generation of IRs.

Lawrence Ho, chairman and chief executive officer, explained: “Lastly, Japan continues to be a core focus for us. We expect development of the next generation of integrated resorts to soon commence in this incredibly exciting, yet currently underpenetrated, tourism destination.

“With our focus on the Asian premium segment, high quality assets, dedication to world-class entertainment offerings, market-leading social safeguards and compliance culture, and our commitment to being an ideal partner to local governments and communities alike, we believe Melco is in a strong position to help Japan realise the vision for integrated resort development with a unique Japanese touch.”

888

888, through its wholly-owned Brigend Limited subsidiary, has announced the £18m acquisition of a selection of brands from the JPJ Group, including Costa Bingo, City Bingo and Sing Bingo.

Via the acquisition, which is to see £12m paid upon closing of the transaction and the remaining £6m in September of this year, 888 is to own a clutch of brands that already appear of its Dragonfish platform.

The purchase by the online gaming operator sees it acquire the operating business Mandalay via the acquisition of certain assets of Jet Management Group and Jet Media, which itself falls under the banner of the JPJ Group.

888 states that as a result of this latest move it is “consolidating its position as one of the leading bingo operators in the UK,” having secured the portfolio which previously operated as business-to-business brands, but will now function on a business-to-customer basis.

Having previously operated on Dragonfish, the purchase gives “the group full control of these successful brands from a marketing perspective, to support and further strengthen its position in the UK online bingo market”.

The post American Gaming Association, River iGaming and 888: The week in numbers appeared first on CasinoBeats.

£490m

The JPJ Group has agreed a £490m deal to acquire the majority of its software provider Gamesys, excluding sports brands and games.

Delivering an enlarged group, affording JPJ ownership of its technology platform and operations together with a reduced reliance on third party providers, the deal will see £240m payable in cash upon completion, with a further £10m to Gamesys shareholders 30 months later and 33.7m new shares set to be issued.

Set to be renamed Gamesys Group, JPJ praises the diversified brand portfolio and international expansion opportunities afforded as a result of the proposed purchase, which it expects to complete in this year’s third quarter.

Included as part of the deal are content and brand licences, including Virgin Games, Virgin Casino, Monopoly Casino, and Heart Bingo, with Virgin Bet and LiveScore site among those not included.

$120m

Inspired Entertainment has announced a definitive agreement to acquire the gaming technology group of Novomatic UK for $120m.

The purchase of the Novomatic Group division, which supplies category B3, C and D gaming terminals to pubs, arcades, motorway service areas and holiday resorts in the UK, sees Inspired be set to manage in excess of 75,000 gaming machines across the region and Europe.

NTG comprises Gamestec Leisure, Playnation, Astra Games, Bell-Fruit Group, Harlequin Gaming and Innov8 Gaming, with Inspired stressing that it expects to achieve between $12.3m to $13.3m of synergies through shared costs and increased scale.

Outlining plans to “draw on the core strengths of Inspired and NTG,” as a result of the transaction the former is striving to broaden offerings, bring differentiated gaming products to new sectors and geographies, accelerate key growth initiatives and offer enhanced capabilities, systems, field service and content.

Furthermore the company has also emphasised an aim of making efficient use of shared manufacturing, engineering, software development, field maintenance and customer service to drive growth and cost savings after the transaction closes.

89,500

Penn National Gaming has been awarded regulator approval for the development of its $111m, inclusive of licence fees for slot machines and table games, Hollywood Casino Morgantown.

Securing the unanimous go-ahead at a recent Pennsylvania Gaming Control Board hearing, the organisation is to soon begin construction of its category four property on a vacant 36-acre site in Caernarvon Township, Berks County.

Hollywood Casino Morgantown is to be an 89,500 square foot facility and is set to encapsulate 750 slot machines and 30 table games, with the ability to accommodate an additional ten of the latter should it require.

Furthermore, the entity will also see the construction of a new sports and race book, a signature restaurant, an entertainment lounge and a food hall.

The facility is expected to generate approximately 250 new local jobs and more than 275 construction jobs, with a construction timeline that is anticipated to be approximately 18 months.

£629,420

Platinum Gaming, which is licensed to operate Unibet.co.uk and uk.bingo.com, has become the latest company to make expensive failures in its social responsibility and anti-money laundering procedures. Following a Gambling Commission investigation, the company has agreed to pay £1.6m in a settlement with the regulator.

The investigation started as a result of information passed to the Commission regarding a customer who had been convicted of a £2 million fraud and had been spending stolen money through several gambling operators.

This convicted fraudster had spent £629,420 of stolen money with Platinum Gaming and the investigation discovered that the customer’s deposits were ‘so high and losses so significant’ that Platinum Gaming should have considered refusing or barring service to the customer. Instead the operator continued to allow the customer to gamble.

Investigations also revealed the operator breached anti-money laundering regulations, including a failure to make adequate enquiries about the source of the funds the customer used to gamble.

The post Inspired, Penn National and UK Gambling Commission: The week in numbers appeared first on CasinoBeats.

Delivering an enlarged group, affording JPJ ownership of its technology platform and operations together with a reduced reliance on third party providers, the deal will see £240m payable in cash upon completion, with a further £10m to Gamesys shareholders 30 months later and 33.7m new shares set to be issued.

Set to be renamed Gamesys Group, JPJ praises the diversified brand portfolio and international expansion opportunities afforded as a result of the proposed purchase, which it expects to complete in this year’s third quarter.

Included as part of the deal are content and brand licences, including Virgin Games, Virgin Casino, Monopoly Casino, and Heart Bingo, with Virgin Bet and LiveScore site among those not included.

JPJ lauds the platform for international growth with “globally recognised brands in Virgin and Monopoly,” the former of which has a US-based casino-focused offering available in New Jersey in partnership with Tropicana.

Neil Goulden, executive chairman of JPJ, explained: “This acquisition marks an important transformational step in JPJ’s growth, providing significant benefits for shareholders, employees and customers.

“For shareholders, we expect the acquisition to deliver earnings accretion in the first full financial year of ownership, while our employees will benefit from the combination of two companies with a strong commitment to responsible gaming, and where the greater scale will further enhance our product development and technology capabilities.

“Our customers will also now have an even greater choice of major brands and different games, all on one platform, creating a truly leading UK and international operator. The rationale for the acquisition of Gamesys is based on growth and both teams – at JPJ and our new colleagues joining us from Gamesys – are excited and motivated by the great opportunity which lies ahead.”

Three key strategic benefits set that JPJ believes will be created as a result of the purchase are “a diversified portfolio of leading consumer brands, greater operational control through proprietary technology; and a complimentary executive and operational team”.

The latter of those proposes that Lee Fenton, chief executive of Gamesys, occupies a similar role in the enlarged group, and he added: “I am very excited to join the enlarged group as CEO. This is a strategically important transaction that adds scale and combines complementary capabilities as the competitive and regulatory environment continues to evolve.

“The enlarged group’s combined brand portfolio, strategically aligned operating structure, technology capabilities and exceptional combined talent base will create significant opportunities for growth in the market.”

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Being welcomed alongside new Bragg CFO Akshay Kumar are gaming industry veteran Jim Ryan, and securities lawyer Paul Pathak, who join its board of directors.

Dominic Mansour, CEO of Bragg, commented: “We’re delighted that Jim, Paul and Akshay have agreed to join the board.

“We’re very focused on our objective of developing into a global gaming force, and we need a board with the skills to support that growth.

“Jim and Akshay both bring extensive gaming industry experience to the team, and Paul’s expertise in M&A will be instrumental to our growth plan.”

Bragg, whose portfolio consists of turnkey solutions provider Oryx Gaming, sports-focused media group GiveMeSport, and online sports betting and casino brand GiveMeBet, is hoping Ryan can build upon expertise gained across a variety of organisations, to drive the company forward further still.

The current CEO of Pala Interactive, Ryan has also previously been co-CEO of bwin.party, and held senior positions at PartyGaming, St. Minver and Excapsa Software and Cryptologic Software, and currently board roles at JPJ Group, Gaming Realms, Pala Interactive and Fralis.

Of the new addition, Ryan stated: “I’m pleased to join Bragg in this exciting growth phase. With an experienced gaming industry leader like Dominic at the helm of a new management team, and the unlimited potential of the group’s three main properties; Oryx Gaming, GiveMeSport and GiveMeBet, I’m confident that Bragg will continue its upward trajectory.”

Pathak, a partner at Chitiz Pathak, is a securities and investment industry lawyer, primarily practicing in the areas of corporate, securities, mergers, acquisitions and commercial law, and currently serves as a director of JPJ Group.

Kumar was officially appointed in December last year, following financial leadership roles at several other gaming operations including NetPlay, Betsson and Sporting Index.

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As a result of this finalisation, which sees a cash consideration of £12m being received by JPJ Group upon completion, with the remaining £6m to be paid during September of this year, 888 now owns a variety of brands that already appear on its Dragonfish platform.

888 states that as a result of this latest move it is “consolidating its position as one of the leading bingo operators in the UK,” having secured the portfolio which previously operated as business-to-business brands, but will now function on a business-to-customer basis.

Having previously operated on Dragonfish, the purchase gives “the group full control of these successful brands from a marketing perspective, to support and further strengthen its position in the UK online bingo market”.

Itai Pazner, chief executive officer of 888, said at the time of purchase initially being announced: “The group continues to deliver its stated strategy of expanding across global regulated markets. This expansion is underpinned by organic growth initiatives supported by exploring value-enhancing M&A.

“We are pleased to announce the acquisition of this portfolio of brands which includes the well-established Costa Bingo. Having been developed on Dragonfish, the group’s first-class B2B platform, we are confident that consolidating these brands into our existing B2C portfolio will deliver synergies and growth opportunities by applying the full extent of 888’s core capabilities in product, marketing and customer relationship management to their operations.”

Amongst the brands secured by 888 include Costa Bingo, City Bingo and Sing Bingo, with the firm attempting to turn around the fortunes of its bingo division, which it was revealed “remained challenging during 2018”.

Delivering its full year 2018 financial results yesterday, 888’s bingo operations brought revenues of $32.4m, a 17 per cent decrease from the previous year’s $39.3m, with full year figures recovering due to a strong casino and sport performance.

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Via the acquisition, which is to see £12m paid upon closing of the transaction and the remaining £6m in September of this year, 888 is to own a clutch of brands that already appear of its Dragonfish platform.

The purchase by the online gaming operator sees it acquire the operating business Mandalay via the acquisition of certain assets of Jet Management Group and Jet Media, which itself falls under the banner of the JPJ Group.

888 states that as a result of this latest move it is “consolidating its position as one of the leading bingo operators in the UK,” having secured the portfolio which previously operated as business-to-business brands, but will now function on a business-to-customer basis.

Having previously operated on Dragonfish, the purchase gives “the group full control of these successful brands from a marketing perspective, to support and further strengthen its position in the UK online bingo market”.

Itai Pazner, chief executive officer of 888, explained: “The group continues to deliver its stated strategy of expanding across global regulated markets. This expansion is underpinned by organic growth initiatives supported by exploring value-enhancing M&A.

“We are pleased to announce the acquisition of this portfolio of brands which includes the well-established Costa Bingo. Having been developed on Dragonfish, the group’s first-class B2B platform, we are confident that consolidating these brands into our existing B2C portfolio will deliver synergies and growth opportunities by applying the full extent of 888’s core capabilities in product, marketing and customer relationship management to their operations.”

In a media statement, it was noted that the divestment of Mandalay is to enable JPJ to “concentrate on a more focused brand strategy in the UK through Jackpotjoy, the market’s leading bingo-led brand and optimise the group’s return on its marketing investment”.

Mandalay generated approximately £11m of revenue and approximately £3.7m of profit before tax attributable to the assets, in the twelve months to December 31, 2018.

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Striving to launch the titles on January 1, the date the liberalised market comes in to force, H5G states it is to be done through NYX/SG Digital, with “multiple real-money operators” in line to take up the titles, which will see a total library of 40 follow.

Emphasising that numerous games are “already well known to the Swedish market through land and digital platforms,” such as Valkyrie Queen, Joker’s Riches and Silver Enchantress, the New York headquartered firm is to also tailor the offerings to Sweden via specific game and theme styles.

H5G has stressed a continued aim developing content distribution opportunities within globally regulated territories, as it “continues to actively develop opportunities and to work with governing bodies throughout Europe and the United States to expand its presence in 2019 including Pennsylvania, Denmark, Spain and Italy”.

The most recent moves by the Swedish gaming regulator, the Lotteriinspektionen, saw the handing out of five more igaming licenses as the market prepares for relaunch.

Bringing the total number of licensed gaming organisations to 31, L&L Europe was awarded a licence for online gambling, and is set to offer a wide range of .com and .se brands, including Funcasino, Karlcasino and Yeticasino on both domains.

Further licences were confirmed for Bayton, Dumarca Gaming, Genesis Global and Enlabs.

Bayton, a subsidiary of Cityviews, has been licensed for sites including Rubyfortune,  Jackpotcitycasino and Spincasino, all on the .se domain.

Dumarca Gaming, a subsidiary of the JPJ Group, will offer Vera&John and Intercasino brands in the re-regulated market, having been awarded a licence.

Simon Wykes, CEO of Jackpotjoy operations, welcomed the news: “Ensuring that our gaming platform is fully compliant with all of Sweden’s licensing requirements, has been a challenge which our technology team has successfully handled within a very short time frame.

“We now look forward to addressing the opportunity that a regulated and licensed Swedish market will present in 2019.”

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