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Shared poker liquidity: will the Italians leave cash game players behind?
Representatives of the Italian gambling industries primary stakeholders, LOGiCO, have penned a response to the Italian Democratic Party Senator, Franco Mirabelli’s claims that a shared liquidity scheme opens a Pandora’s Box of pain and misery.
When the Italian Democratic Party Senator, Franco Mirabelli, looks at the scheme to share online poker liquidity with France, Portugal, and Spain he sees nothing but a car wreck. Representatives of LOGiCO, the gambling industry association created in 2016 to muzzle the barking from dogs like Mirabelli, vehemently disagree.
The pace of the shared liquidity between those prime European nations has spun as slowly as the wheels turning on the overturned cars in that wreck that Mirabelli observes. But in July, the French gaming regulator ARJEL announced that the quartet of countries had signed a shared online poker liquidity agreement, and poker players began blowing on their kazoos.
Here is a snippet of a joint statement made by the gambling regulators in the four countries at the time of signatory.
“The Italian, French, Portuguese and Spanish online gambling regulatory authorities will sign an agreement concerning online poker liquidity sharing on 6 July 2017 in Rome. This agreement will set the basis for cooperation between the signing Authorities in this context and will be followed by further necessary steps within each of the jurisdictions involved in order to effectively allow for liquidity poker tables.”
But one man disagrees with the move, and that man is Mirabelli.
The man who sits on the anti-mafia commission told the Italian press that he was going to make it his duty to approach the Minister of Economy and Finance, Pier Carlo Padoan, to thrust a very sturdy piece of metal into the wheel of the machinery.
Mirabelli called the agreement a tool of recycling which is Italian code for money laundering and fraud. The politician also believes that Italian poker players will be less protected if the boundaries placed to protect are widened to encompass four countries.
LOGiCO Bite Back
Over the weekend, an article appeared in the popular Italian poker media news site GiocoNews, claiming to be from LOGiCO representatives, the industry association chaired by executives from the likes of Paddy Power Betfair and PokerStars.
In response to Mirabelli’s view that shared liquidity would increase the opportunity for money laundering, because France, Portugal, and Spain’s systems aren’t as squeaky clean as the Italians, LOGiCO reminded him that all four nations have thoroughly verified the matter and comply with money laundering regulations.
The article noted:
“Legal practitioners use specialised teams and state-of-the-art technologies to ensure compliance with such measures, including the Know Your Customer (KYC) processes and financial flow analysis.”
On the question of fraud, LOGiCO believes the more prominent the system, the easier it is to identify fraudulent activities such as collusion. The Industry chiefs also pointed out that Italians currently play on unregulated shared liquidity sites where there is an increased likelihood of fraud because they don’t have the same thorough audits of a regulated site.
Can Mirabelli’s interventions result in a shared liquidity scheme seemingly bent in all manner of strange angles?
It would appear so.
In a clear sign of a win-win scenario, LOGiCO representatives make it abundantly clear that they don’t see the same car wreck that Mirabelli sees. However, if the Italian regulator does see it, then rather than trying to dismember the entire structure, they suggest proceeding on a trial basis with poker tournaments, leaving cash game players behind.
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Kambi Group plc repurchase of shares during 6 November – 12 November 2024
Kambi Group plc (“Kambi”) has during the period 6 November to 12 November 2024 (the “Buyback Period”) repurchased a total of 54,000 ordinary B shares (ISIN: MT0000780107) as part of the share buyback programme, within the mandate approved at the Extraordinary General Meeting on 20 June 2024 (the “Programme”).
The objective of the Programme is to achieve added value for Kambi´s shareholders and to give the Board increased flexibility with Kambi´s capital structure by reducing the capital. The Programme is being carried out in accordance with the Maltese Companies Act, EU Market Abuse Regulation No 596/2014 (“MAR”) and other applicable rules.
From the beginning of the Programme, which started on 6 November, until and including 12 November 2024, Kambi has repurchased a total of 54,000 ordinary B shares at a volume-weighted average price of 111.87 SEK per share.
During the Buyback Period, Kambi has repurchased shares as follows:
Date | Aggregated daily volume (number of ordinary B shares) |
Weighted average share price per day (SEK) |
Total daily transaction value (SEK) |
6 November 2024 | 14,000 | 117.27 | 1,641,822 |
7 November 2024 | 10,000 | 115.17 | 1,151,709 |
8 November 2024 | 10,000 | 110.08 | 1,100,826 |
11 November 2024 | 10,000 | 107.82 | 1,078,240 |
12 November 2024 | 10,000 | 106.81 | 1,068,130 |
All acquisitions have been carried out on Nasdaq First North Growth Market in Stockholm by Carnegie Investment Bank AB on behalf of Kambi. Following the acquisitions and as of 12 November 2024, Kambi’s holding of its own shares amounted to 1,428,678 and the total number of issued shares in Kambi is 31,278,297 ordinary B shares. Under the Programme Kambi is authorised to repurchase a maximum of 3,127,830 ordinary B shares, up to a maximum amount of €12.0 million.
A full breakdown of all transactions carried out during the Buyback Period is attached to this announcement.
Information on the Programme is available on Kambi’s website, kambi.com/investors/share-information/
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Zillion Games launches Storm Fruits 2
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Growe Partners Named Best Affiliate Program. Once Again.
Growe Partners, an affiliate program, which has skyrocketed its performance in the iGaming industry in just a year, has received yet another recognition as the Best Affiliate Program at the SiGMA Europe Awards 2024.
The ceremony took place in Valletta, Malta on Nov, 12th, and the victory was achieved through a combination of public votes on the award page and evaluations by a distinguished jury panel.
In just a year Growe Partners has rightfully reserved a place amongst industry leaders, who have been in the game for a lot longer, and as they say themselves — they are not going anywhere. Today Growe Partners is a network with over 32 thousand partners, operating in more than 10 locations worldwide.
“This achievement reflects our commitment to investing in our people, our partners, our ideas, and continuously implementing new innovative approaches. We are proud of the strong team we have built, which is always on the lookout for ways to develop and better themselves. And whose dedication resulted in this victory.
With winning this award we would like to once again emphasize that everything is possible in our industry if you set the right goal and work hard for it.” , — commented Dima Mariievskyi, Head of Growe Partners.
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