Connect with us
Advertise at European Gaming Media
SIS

Industry News

Italy illegal gambling ring linked to Malta’s Medialive Casino

George Miller

Published

on

Italy illegal gambling ring linked to Malta’s Medialive Casino
Reading Time: 2 minutes

Italy’s latest illegal gambling bust is once again tracing its tentacles back to Malta’s online gambling industry.

 

Last Wednesday, Italian media revealed details of operation Double Jack, in which police fanned out across multiple Italian provinces to raid 30 different residences suspected of being connected to an illegal gambling operation that mixed land-based gaming machines with computer terminals connected to Malta-based online gambling servers.

The authorities ultimately arrested seven individuals suspected of involvement in an illegal online gaming operation that generated monthly revenue of €10m. Police seized 14 venues and numerous other tools of the trade, including bank accounts, with the total value of seized assets reaching €8.5m.

The raided venues – which included social clubs, billiard halls, amateur sports organizations and even a pizzeria – were reportedly equipped with master switches that allowed the operators to ‘reset’ the terminals to sever the Malta connection in case the authorities came calling. Prosecutors also claimed the gang’s gambling software could be manipulated to ensure gamblers didn’t win too often.

On Thursday, Italian media quoted Florence’s chief prosecutor Giuseppe Creazzo saying that the illegal operation had unspecified connections to Malta-based Medialive Casino Ltd, which provides legal online live dealer services to many Italian-licensed online and land-based casino operations.

Creazzo revealed that the illegal operation had apparently been rumbled through the use of a piece of Trojan software the authorities managed to install in the group’s digital network. Creazzo said the use of the Trojan was “decisive for discovering the illegal computer platform with which the game was controlled by Malta.”

Creazzo noted with some bitterness that new laws approved earlier this month meant that this was the last time Italian authorities would be able to employ the use of software tools like Trojans in their fight against illegal activity.

Creazzo also complained that his office hadn’t received sufficient cooperation from Maltese authorities, and thus he was only able to act against the gang’s local operations. In September, members of Italy’s Anti-Mafia Commission traveled to Malta to inquire about “significant delays” in Maltese authorities fulfilling requests for information regarding illegal online gambling activity.

Italian authorities have long complained about local illegal gambling operators’ reputed ties to Malta, including the high-profile takedown in 2015 of an organized crime group’s use of betting sites linked with Malta-licensed Betuniq. The Malta Gaming Authority ultimately suspended the licenses of several Betuniq-related businesses.

George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

Continue Reading
Advertisement
Comments

Industry News

Zitro to Offer Training Session at SAGSE 2019 with Collaboration of the University of Palermo

Niji Narayan

Published

on

Zitro to Offer Training Session at SAGSE 2019 with Collaboration of the University of Palermo
Reading Time: < 1 minute

 

Zitro University is going to offer a new edition of its training event at SAGSE 2019 with the collaboration of the University of Palermo, one of the most prestigious universities in Latin America.

“This year we have chosen a different way to collaborate with SAGSE and show the casino operators our commitment with the Latin American region. After the extensive product presentation we made during the Zitro Experience Argentina in April, we believed that, on this occasion, the best way to add value to our customers was by contributing to creating at SAGSE a space for reflection on the future of the industry, which has to take into account the changes in consumer tastes and the abundant entertainment offer that comes hand in hand with new technologies,” Sebastián Salat, CEO of Zitro said.

“The University of Palermo and Zitro are united by the firm conviction that continuous training is an essential tool to face the changes that occur, at a speed every time more vertiginous, in all areas of our lives, and, of course, also in the gaming industry. We thank Zitro for inviting us to its Zitro University, and, above all, for continuing to promote this type of training events, so necessary in such a rapidly changing world,” Patricio O’Gorman, professor at the University of Palermo said.

Continue Reading

Industry News

Jumbo to Acquire Gatherwell for $9.1 Million

Niji Narayan

Published

on

Jumbo to Acquire Gatherwell for $9.1 Million
Reading Time: < 1 minute

 

Jumbo Interactive has signed an agreement to acquire UK lottery company Gatherwell for $9.1 million. Jumbo will pay $5.4 million in cash on acquisition for the UK business, with further payments of $3.7 million payable if certain revenue and profit targets are met by Gatherwell.

Gatherwell was founded in Oxford in 2013 as a lottery company to support local causes and schools across the UK. The UK company currently has around 80 local authorities and 1000 schools as customers, spread across around 5000 causes and selling around 130,000 lottery tickets per week.

Jumbo founder and CEO Mike Veverka says the acquisition will accelerate the company’s expansion of its software as a service (SaaS) business in the UK.

“This is an important step in building the SaaS Powered By Jumbo business segment, and in achieving our vision of $1 billion of ticket sales through the Jumbo platform by 2022. The acquisition will have an immediate positive impact on our business through an increase in revenue and profits, as well as placing Jumbo in the best possible position to take advantage of the opportunities in the UK charity lotteries,” Veverka said.

“There is significant growth potential for Gatherwell based on their ‘first-mover’ competitive advantage, the industry growth of approximately 14 per cent, less than 1 per cent by value of the registered charities in the UK operate a lottery, and recent changes to the regulations. Jumbo can benefit by using Gatherwell to licence its Powered By Jumbo software and services to larger lotteries in the UK and possibly adapt the Gatherwell business model in other international markets such as Australia and Canada,” Veverka added.

Continue Reading

Industry News

Scout Gaming publishes Q3 2019: Revenues increased 125% to mSEK 8.1

George Miller

Published

on

Scout Gaming publishes Q3 2019: Revenues increased 125% to mSEK 8.1
Reading Time: 2 minutes

 

”I am delighted to look back at a successful quarter, in which we fulfilled the objective to increase revenues significantly during the second half of 2019.

During the third quarter, after an initial learning period regarding Scout’s offering, major clients have started to market our products. We have contracted and launched new clients, increased our prize pools and launched new betting related games such as our internal sportsbook, covering fantasy markets. This has resulted in all-time high revenues and improved profitability measures across the border.

Scout’s client activity has increased significantly during the third quarter, which is illustrated by the Scout Gaming operator Index that reached a new all-time high of 900. The index level corresponds to a growth of 94% compared to the same quarter last year, which included activity peaks from the Soccer World Cup.

Scout Gaming launched its first external B2B customer in the third quarter of 2017, with revenues totaling mSEK 1.6. Since then, revenues have increased fivefold as we have launched new customers, larger prize pools and new games. The focus on signing new clients has resulted in a cost level that has induced a trend of increasing losses. This trend has ended during the third quarter. We now expect successively improved earnings going forward. Volatility between quarters may continue to occur as a result of larger customer launches and events but should decrease as the revenue base grows.” – Extract from CEO Andreas Ternstrom’s commentary to the interim report.

 

Quarter July – September 2019

• Revenues increased to mSEK 8.1 (3.6), corresponding to a growth of 125% compared to same quarter last year

• EBITDA improved to mSEK -7.9 (-8.7)

• Net result improved to mSEK -9.5 (-11.9)

• Earnings per share amounted to SEK -0.7 (-1.0)

• Operator trading index (which illustrates the underlying client activity) increased to 900 (465), a growth of 94%, previous year contained activity related to World Cup Soccer

• In September, Scout Gaming entered into a framework agreement with Eurovision Sport, a division within the European Broadcasting Union (EBU), which is the world’s leading public service media alliance. A first targeted partner gained access and launched Scout’s product offering during the fourth quarter. The agreement stipulates that Scout Gaming will provide platform licenses to Eurovision Sport, its partners and EBU Members

Interim period January – September 2019
• Revenues amounted to mSEK 15.7 (10.0)

• EBITDA amounted to mSEK -34.6 (-21.2)

• Net result amounted to mSEK -38.9 (-28.1)

• Earnings per share amounted to SEK -2.8 (-2.3)

Events after the period ended
• In November, Scout Gaming’s product was launched with the global operator brand Betway, initially targeted towards the African market under Betway’s African licensee partner – Raging River

Continue Reading
Advertisement
NSoft

Global Gaming Industry Newsletter – Weekly Digest (sent every Wednesday)

Please select all the ways you would like to hear from European Gaming Media and Events:

You can unsubscribe at any time by clicking the link in the footer of our emails. For information about our privacy practices, please visit our website.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices here. Read more about European Gaming Media and Event's Privacy Policy and Terms of Service.

Subscribe to our News via Email

Enter your email address to subscribe to our news and receive notifications of new posts by email.

Latest by author

Trending

European Gaming Media and Events is a leading media and boutique event organizer in the European Union with a monthly reach of +50,000 readers. Our websites serves hand picked news about compliance and industry related technology updates through the European Union, North America, Asia and Latin America, and serves them to you daily.

Contact us: [email protected]

Copyright © 2015 - 2019 European Gaming Media and Events. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania

Notice for AdBlock users

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.