Kenya High Court Annuls Ban on Gambling Ads
The High Court of Kenya has annulled the recently introduced ban on gambling ads.
“The ban was null and void and was tainted with illegality, unreasonableness, and procedural impropriety,” Justice John Mativo said.
Fred Matiang’i, the Interior Minister of Kenya, announced late last month that number of new rules in connection with how betting and gaming products were to be promoted in the country would be introduced.
Under those rules, gambling operators would have been required to submit all their ads for approval from the Betting Control and Licensing Board. In addition, ads of gaming and betting products would only have been permitted between 10 pm and 6am. Social media and outdoor advertising would have been fully banned in the African nation. The new rules also banned celebrity endorsements.
On May 20, Justice James Makau ordered that the implementation of the new gambling advertising restrictions be paused.
IPO Bound Yudiz Solutions Limited gets DRHP Nod
IPO-bound Yudiz Solutions Limited, a blockchain, AI and gaming-focused enterprise technology company has received an NSE approval for an SME IPO. With this approval, the company is set to invest approximately 80 million INR to set up a gaming studio and a multi-gaming platform. The game studio will aim to produce over 40 games in a year.
Yudiz Solutions Limited, which is already known to develop apps, will now be the first game developers to be publicly listed and have its own publishing platform.
* The DRHP approval makes it the first game developers in India to be publicly listed
* The gaming studio will aim to produce over 40 games annually
* Will be the first game developers to be publicly listed
The new Yudiz Solutions Limited game studio will focus on creating high-quality games for multiple platforms. These games will leverage Yudiz Solutions Limited’s cutting-edge technology solutions and in-house expertise to design and develop the games. They will also develop games for other publishers and will also allow other developers to publish games on their new publishing platform. This will be the only gaming company to develop and publish their own and others’ games as well.
“The new business ventures will enable sectoral growth, provide us with the necessary resources to drive innovation, expand our game portfolio, elevate the gaming experience and develop gamer communities,” the Chairman and Director for Yudiz Solutions Limited, Bharat Patel, said. “It will also enable us to forge strategic partnerships, attract top talent and cement our position as strong contenders in the space.”
With an EBITDA of 21.77% for FY 22-23 and a CAGR of 42.34% for the past three years, Yudiz Solutions Limited also had a PAT of INR 2.75 CR in FY 22-23. With the recently approved DRHP the company will offload a public issue consisting of a fresh 27,17,600 equity shares.
Yudiz Solutions Limited is headquartered in Ahmedabad and recognized as a global IT service providing solutions in AI/ML, AR/VR and IoT as well as blockchain, mobile app and web development across North America, Europe and Asia. Yudiz Solutions Limited is set to disrupt the market with its innovative solutions and products. MPL, Zydus, RR Kabel, IRM Energy, SportsBuzz are some of its clients.
KingMakers goes live with EveryMatrix CasinoEngine
KingMakers’ betting brand BetKing, has gone live with CasinoEngine, giving Nigerian players access to the industry’s largest casino content library through a single integration.
EveryMatrix’s iGaming platform will aim to significantly grow BetKing into a world-class, multi vertical, digital entertainment experience with access to an ever-growing portfolio of thousands of best performing games.
BetKing will also integrate JackpotEngine and BonusEngine to further boost the gaming experience through flexible and configurable jackpot customisation and a variety of industry-leading player reward and bonus management features.
Nigeria’s total onshore online betting and gaming gross win for 2023 is estimated to be €560 million, according to H2 Gambling Capital, with the onshore market predicted to double in three years.
Stian Enger, Head of CasinoEngine, EveryMatrix, said: “The sky’s the limit in terms of potential for BetKing and we’re very excited to go live and accelerate the brand’s casino growth in the months and years to come.
“The brand has leading sports betting market share and I’m confident that in a short space of time the same will be said for casino thanks to the power of CasinoEngine and its best-in-class acquisition and retention capabilities.”
Lauren Holder, Head of Gaming at KingMakers, said: “From signing the deal six months ago to go live has been a very smooth process and it’s been a pleasure working with our partners at EveryMatrix.
“The Nigerian and wider iGaming African market is an area we believe has huge promise and, together with EveryMatrix’s leading productivity platform and the wide variety of flexible content options and revenue boosting functionality it offers, we believe the opportunities are endless.”
IAGR Opens Registrations for 2023 Conference in Botswana
The International Association of Gaming Regulator (IAGR) has opened registrations for its annual conference, taking place in Gaborone, Botswana, from 16 to 19 October.
With the theme “Bringing ideas together: The exchange of excellence and innovation in regulatory practice,” this year’s event is hosted by the Botswana Gambling Authority.
“IAGR 2023 is a four-day event for IAGR members and industry thought leaders, bringing together regulators, industry leaders, and experts to share ideas and shape the future of gaming regulation worldwide,” Jason Lane, President of IAGR, said.
The conference follows last year’s sell-out event in Melbourne, Australia.
“We are honoured to host IAGR 2023 in Botswana and look forward to welcoming our global peers from around the world to our beautiful country,” Peter Kesitilwe, CEO of the Botswana Gambling Authority, said.
“We’re committed to ensuring that all participants have a rewarding and memorable experience.”
IAGR has announced two speakers and topics for the conference, with more to follow in the coming weeks.
- Earle G. Hall – Chairman, International Gaming Standards Association & CEO, AXES.ai: “Artificial intelligence will transform our industry”
- Andrew Rhodes – CEO, United Kingdom Gambling Commission: “Impact of the Gambling Act Review”
Early-bird pricing is available until 15 June.
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