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Colombia to allow live online casino, global poker liquidity

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Colombia clears live online casino, global poker liquidity
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The colombian gaming regulator Coljuegos is to allow licensed operators to offer live online casino and share global liquidity for online poker and exchange betting.

 

In a draft decree published on its website last week, Coljuegos said the move will allow Colombia to become “even more competitive” with internationally licensed operators that are active in the country without a national licence.

Measures featured in the decree include allowing licensed operators to conduct live dealer baccarat, blackjack and roulette games, as well as random number generator casino products.

Coljuegos will also enable companies to offer keno products, in addition to both virtual sports and racing betting services.

In regards to online poker liquidity sharing, this would be restricted to other jurisdictions that have legalised internet gaming and have regulations in place.

Coljuegos picked out France, Italy, Portugal and Spain as regulated markers that it believes it can strike up a relationship with in terms of sharing liquidity.

In October 2016, Colombia became the first jurisdiction in the Latin America region to formally approve online gambling and has since been seeking to clamp down on unlicensed activities in the country.

The latest move comes after Coljuegos issued a number of gambling licences in recent months to allow companies to operate in the country.

Wplay.co picked up the first licence under new national laws in the country back in June and has since struck up a partnership with Quickfire to offer a selection of content from Microgaming.

Corredor Empresarial has also rolled out Betplay.com.co, while GAMING1 and Vicca Group have launched Zamba.co, while domestic operator Colbet last month acquired its own online gambling licence.

Reports in the local Colombian media last week said that Codere has also secured a licence in the country.

Coljuegos president Juan B. Perez Hidalgo said that the regulator expects to award “at least two more” online licences before the end of the year.

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IGT Earns Gold Medal from Leading Sustainability Rating Agency EcoVadis

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International Game Technology PLC announced that it has earned a gold medal sustainability rating from EcoVadis, a leading provider of business sustainability ratings. This gold medal rating positions IGT among the top five percent of global companies assessed by EcoVadis for its comprehensive sustainable business practices. IGT scored particularly well in the areas of environment, ethics and sustainable procurement.

IGT’s sustainability programme was assessed under the EcoVadis criteria using 21 benchmarks within the categories of environment, labour and human rights, ethics and sustainable procurement. EcoVadis methodically evaluates environmental, social and ethical performance using these international sustainability standards for more than 85,000 companies worldwide.

“Receiving a gold medal from EcoVadis validates IGT’s long-time commitment to continuously improving our ESG results and the effectiveness of our Sustainable Play initiatives. IGT will leverage the gold medal honor from EcoVadis as inspiration for enhanced sustainability innovation and performance, as we help contribute to a more sustainable future for our business and stakeholders,” said Wendy Montgomery, IGT SVP Marketing, Communications and Sustainability.

EcoVadis’ business sustainability ratings are based on international sustainability standards such as the Ten Principles of the UN Global Company, the International Labour Organisation conventions, the Global Reporting Initiative standards and the ISO 26000 standard. The ratings provide an evidenced-based analysis on performance and an actional roadmap for continuous improvement.

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Kindred Continues Support for Women in Tech Sweden

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Kindred has for the eighth time in a row signed up as Co-Creating Partner to Women in Tech Sweden and will take part in the conference on 17 April in Stockholm. Women in Tech Sweden is a non-profit organisation, supported by some of Sweden’s largest and most influential businesses who share the organisation’s mission to inspire more women to choose and stay in tech. This year’s theme Connect, Create, Innovate is truly supported by Kindred’s values.

“The mission of Women in Tech is to inspire women to choose a career in technology – and to keep those already in the industry which is as equal important. Being a part of this event and supporting this mission is very important for us at Kindred Group. There is a reason why we keep on supporting Women in Tech Sweden – the networking, the conversations and the face-to-face meetings are invaluable and something we at Kindred truly enjoy,” said Prachi Arya, Talent Acquisition Tech Development and Women in Tech-general at Kindred Group.

“It is so important that we do this together, that we long-term prioritize building teams with a higher diversity of perspectives. Because we know that it helps us develop better and smarter services and products. That’s why we are so pleased that Kindred is once again with us as a loyal partner on the journey towards a more inclusive industry,” said Åsa Johansen, Director of Women in Tech.

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Catena Media Updates its Financial Targets

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Catena Media has updated its long-term financial targets for 2024-26 to reflect a change in revenue streams as the group transitions towards a more sustainable revenue model following the completion of the strategic review in November last year.

The group expects a resumption of organic growth in the second half of 2024 and full-year adjusted EBITDA in the range of EUR 20-30 million as the first operational impacts begin to show from an extensive programme of technology- and data-based investments.

The new targets are:

  • Double-digit organic growth in both revenue and adjusted EBITDA for 2025 and 2026 at group level.
  • Net interest-bearing debt to adjusted EBITDA ratio of 0-1.75.

The shift towards a more sustainable revenue model involves recruiting more players via revenue-share agreements with operators compared to cost-per-acquisition (CPA) contracts and implementing a programme of investments in tech and data innovation that is being rolled out in Q1 and Q2 2024.

These investments, planned as a result of the strategic review, will reinvent the group’s core technological focus by strengthening the organisation with new product offerings that prioritise technology, innovation and immersive user experiences. The primary initiatives include investments in artificial intelligence (AI), paid media, sub affiliation and further strategic media partners to broaden audiences and deliver greater value to partners.

Investments into AI include the establishment of a joint venture with a specialist AI partner to develop a generative AI application dedicated exclusively to content production for online betting and casino gaming affiliation. This initiative launched its first minimum viable product (MVP) in February 2024.

AI innovations and other tech-facing enhancements will enable Catena Media to scale the business, develop new revenue streams and generate synergies while also delivering a more personalised user experience as the group positions to become the data- and technology-driven leader of online affiliate marketing in its target sports betting and casino gaming markets.

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