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Cyprus bets on gaming to boost its tourism
Cyprus is experiencing nothing short of a tourism revolution. And, the gaming industry is leading it. Casinos have become one of the island’s major providers as a part of the new tourism strategy which aims to double visitor arrivals, triple its revenue and attract over €20bn of investment by 2030.
The hospitality sector is undergoing the most comprehensive reformation since it gained independence in 1960. Following the steps of its Mediterranean sister island of Malta, Cyprus has embarked itself on an ambitious policy that targets to place gaming as the flagship of economic growth.
Last autumn, a bill was passed that would allow the construction of the first land-based casino in the island. Giant casino operators Melco and Hard Rock have won the €600m bid for this unique integrated project. The group of investors received the necessary consent earlier this summer and they have already started construction work. However, Hard Rock exited the venture and the local partner CNS Group joined efforts with the Hong Kong-listed firm.
The luxury casino, expected to be operational by 2019, will feature a main resort in the city of Limassol and fours smaller satellites in the Niconisia, Famagusta, Larnaca, and Paphos. Europe’s first integrated project will include 500 guest rooms, 100 gaming tables and at least 1,000 gaming machines
This colossal casino would turn into one of the country’s tourism key players, bringing a rejuvenation of the urban environments. Despite substantial gaming taxes and licensing revenue that casinos generate for governments, it is estimated that individually each casino visitor spend twice as much as those who do not attend casinos. This stress the great aid that such developments would bring to Cyprus’s tourism.
Regarding iGaming, the country has been slowly opening up its borders for online operators. Back in 2012, the government of Cyprus approved a framework that would allow sports betting companies operate in the Cypriot market. However, it was not until 2016 when Cyprus’ National Betting Authority (Εθνική Αρχή Στοιχημάτων) started accepting license applications.
In November 2016, online operator bet365 became the first one to be granted a license. Currently this sector reported revenue of €3,466,230 during the first three months of 2017, according to official sources.
Nevertheless the recent opening, Cyprus still holds a high-regulated market. By August 2017, over 2,500 domains belonging to unlicensed operators were added to the blacklist. In addition to the 10% tax on revenue, the National Betting Authority has not been keen on giving online permissions.
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SIS and Premier Greyhound Racing reveal improved greyhound race time schedule
Sports Information Services (SIS), the leading multi-content supplier of 24/7 live betting services, and Premier Greyhound Racing (PGR), the media rights company supplier of greyhound racing to the betting industry and direct to viewers, have collaborated to offer a revised race time schedule starting from 20 May.
Designed to protect the long-term future of UK greyhound racing, the new schedule will see morning fixtures start slightly later – moving from 10.47 to 11.01 and 10.54 to 11.09. Additionally, there will also be a slightly later start time for some evening fixtures aimed at a retail audience, with the first evening fixture now starting at 18.08.
Commenting on the improved schedule, Terry Mahoney, Head of Business Development at ARC, said: “The new race times will help make it easier for customers to navigate busy racing schedules as well as improving operations trackside. We will continue to listen, monitor, and adapt schedules where and when needed as we move forward to deliver the best service possible for betting operators as well as punters.”
Paul Witten, Managing Director at SIS, added: “We are passionate about delivering a greyhound racing service that benefits all of the sport’s stakeholders. Together with Premier Greyhound Raxing, we have introduced a revised racing schedule that benefits operators and their customers.
“Our approach to greyhound racing is grounded in sustainability and flexibility. This collaboration with fellow service providers allows everyone to enjoy all the high-quality action produced on a daily basis from tracks across the UK and Ireland.”
SIS has long-term agreements in place with bet365, William Hill, Paddy Power and Betfred to deliver its greyhound content across UK and Irish retail and digital channels. SIS also promotes this content across dozens of leading international operators, as well as through SISRacing.tv.
PGR offers greyhound action, cards, video replays, results, news and info on greyhounds.attheraces.com, and regular live broadcasts on Sky Sports Racing. Premier Greyhound Racing is a joint venture between Arena Racing (ARC) and Entain, the global sports betting, gaming and interactive entertainment group. Between them, the two companies own nine of the 20 licensed British greyhound tracks and ARC manage the media rights for five independent tracks.
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PRAGMATIC PLAY HITS THE SWEET SPOT WITH FRUITY TREATS
Pragmatic Play, a leading content supplier to the iGaming industry, has added Fruity Treats to its collection of clusters pays Slots.
Five or more fruit symbols must connect horizontally or vertically to award a win in this vibrant 7×7 title, which features a variation of the popular multiplier spots mechanic.
At the start of each spin, four marked spots of different colours take up random positions on the grid. If a win forms over a marked spot, a starting multiplier of 5x, 10x, 15x or 20x (depending on the spot colour) will be activated. Each time a winning combination lands on a marked spot after a tumble, the multiplier is applied to the win and then increases by its starting value.
Hitting at least three candy scatters on a spin awards entry to the bonus game with 10 free spins. During the feature, which can be retriggered with five additional free spins, activated multipliers from marked spots do not reset between free spins, potentially leading to massive wins.
Fruity Treats is the latest cluster pays Slot in Pragmatic Play’s multi-award-winning range, joining recent hit Sugar Rush 1000.
Irina Cornides, Chief Operating Officer at Pragmatic Play, said: “The roaming multiplier spots feature in Fruity Treats sets it apart from other successful cluster pays Slots in the Pragmatic Play portfolio, with marked spots staying sticky in the bonus game for even greater win potential.”
Pragmatic Play currently produces up to eight new Slot titles a month, while also delivering Live Casino and Bingo games as part of its multi-product portfolio, available through a single API.
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Kambi’s Festival of Sportsbook returns for fourth year
Kambi’s Festival of Sportsbook returns in June with registrations now open for a two-day content series featuring speakers from across the Kambi Group and insights covering the full breadth of the industry.
Taking place between 4-5 June, the Festival will be comprised of online sessions taking in topics ranging from UX optimisation and harnessing AI to maximising a summer of soccer featuring both UEFA Euro 2024 and the Copa América.
Erik Lögdberg, Managing Director of Kambi Sportsbook, will open the Festival with a session entitled ‘Exceptional, everywhere: meeting the increasingly high standards of an evolving market’, discussing how operators can develop their sportsbook to navigate changing consumer habits and fragmenting markets.
Kambi’s Head of Legal and Regulatory Compliance, Victoria Fernandes, will also be joined by Partner Success Manager Sabrina Andrade for a Portuguese language session delving into Brazil and how local operators can compete in the soon-to-be-regulated market.
Gerard Starkey, Kambi Group’s SVP of Marketing & Communications, said: “We are excited to once again be welcoming the industry to Kambi’s Festival of Sportsbook, and we look forward to sharing the sportsbook insights and knowledge the event has become known for. As ever, the agenda features a broad range of sessions hosted by experts from across the Kambi Group, providing plenty to interest those working in or with the sports betting industry today.”
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