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Japan inches closer to legalizing casino gambling

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Japanese cabinet, led by Prime Minister Shinzo Abe, has passed a casino bill that would make casino gambling legal in the country. The cabinet has agreed to issue three licenses, along with other measures that could help spawn a viable industry. The prime minister is reportedly keen to push the Diet, the country’s legislature assembly, to approve the bill before June 20.

Japanese legislation

Every Japanese legislation originates at the cabinet. It must be subsequently approved by the Diet. Because the Abe government is keen about the casino legislation, there is a very good chance it will be approved by the Diet. Among the bill’s provisions are:

  • A 30 per cent tax on gross casino revenues.
  • A $55 casino entrance fee for Japanese citizens (tourists can enter free).
  • Japanese citizens would be limited to three casino visits a week, or 10 per month (no limits on tourists).
  • Casino space limited to just 3 per cent of an integrated resort’s total square footage.

Although estimates of just how lucrative the Japanese casino market could become have trended lower as the reality of legalisation has moved steadily forward – initially it was estimated to be worth some $40 billion, but analysts now peg it closer to $15 billion – it would still be worthwhile for Las Vegas Sands (NYSE: LVS), MGM Resorts (NYSE: MGM) and Melco Resorts & Entertainment (NASDAQ: MLCO) to spend the $10 billion or more they have pledged should they win one of the licenses.

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Germany Becomes Latest Jurisdiction to Partner with TPD

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Deal with German Tote sees race tracking and data monetisation available across thoroughbred and harness tracks in Germany

German Tote has selected Total Performance Data (TPD), the world’s leading live horse racing data provider, for race tracking and data monetisation across all 19 thoroughbred racecourses and several harness tracks, starting at Berlin’s Hoppegarten for the beginning of its turf season in late March.

German Tote recognises the numerous ways in which horse tracking can enrich the sport, with live running orders displayed on racecourse big screens a significant aspect of its appeal. TPD is also tasked with providing data feeds and in-play odds to bolster engagement and betting turnover.

In addition to showcasing live race graphics, German racing punters will gain insights from state-of-the-art sectional timing and stride data that TPD delivers.

The deal means that renowned races such as the Deutsches Derby and the Grosser Preis von Berlin will now join prestigious events like the Dubai World Cup, Ascot, the St Leger, Melbourne Cup and Breeders’ Cup within the comprehensive racing data portfolio of TPD and follows the news of the recent announcement of the merger between TPD and Australasia’s largest live racing data company, tripleSdata.

“After a careful review and trials of different systems, like many others, we chose TPD,” the Managing Director for German Tote, Riko Luiking, said. “It has a great system, significant experience and represents value for money. We have also been impressed with its hardware partner, GMax, who is already underway and expecting to have all 19 racecourses live by August.”

“We’re so pleased to welcome German Tote and German racing after over a year of work between both teams,” the Chief Executive Officer for TPD, Will Duff Gordon, said. “It’s important to produce in-race performance metrics to boost interest in German horse racing, especially its classics, with breeders, punters and horsemen ready to act on the content.

“On the back of our recent merger with tripleSdata, it’s great to keep up the momentum as we surpass 120 worldwide racecourses.”

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Issuance of Common Bond Loan

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The Athens Stock Exchange welcomed today representatives of the Management team, senior executives, and partners of INTRALOT on the occasion of the commencement of trading of its corporate bond on the Main Market of the Athens Stock Exchange. INTRALOT’s Chairman and CEO, Sokratis Kokkalis, declared the commencement of trading by ringing the traditional bell.
Mr. Yianos Kontopoulos, CEO of the Athens Exchange Group, welcomed INTRALOT’s Management team and highlighted the company’s successful Public Offering, from its entry into the Parallel Market of the Athens Stock Exchange in 1999 to the present day: “INTRALOT’s journey to the Athens Stock Exchange began 25 years ago, in November 1999, when the company was listed on our Parallel Market with a market capitalization of approximately €220 million. Today, with a market capitalization of €720 million, it is one of the companies listed on the Main Market. Since last November, INTRALOT has been included in the composition of the FTSE/Athex Mid Cap Index with the highest participation (12.2%) among the 20 companies in the index. With the successful completion of a €135 million share capital increase in October 2023 and today’s issuance of its €130 million corporate bond, INTRALOT is demonstrating its confidence in the important role the stock market can play as a lever to raise capital for business development.”
The Chairman and CEO of INTRALOT, Mr. Sokratis Kokkalis stated: “INTRALOT is a company that produces technology in Greece and has been operating successfully for many years in a highly competitive global environment, including the US, where we have had a strong presence for twenty years. I would like to thank the Greek investment community that participated in the recent Bond Issue and everyone who contributed to this success. Our company is moving forward, focusing on growth opportunities and strategic partnerships that leverage our extensive experience and proven next-generation technology in a digital world.”
On her part, the Vice-Chair of the Hellenic Capital Market Commission, Mrs. Natassa Stamou, noted: “During its 25 years on the Athens Stock Exchange, INTRALOT has always confirmed the value of being listed on the stock exchange, using the financial tools available and raising capital through the issuance of shares and bonds for the benefit of investors and the market. INTRALOT’s outward-looking
approach and presence in various jurisdictions highlights and promotes the potential of raising capital in Greece. The successful issuance of its bond is further evidence of INTRALOT’s strong confidence in the Greek economy and market.

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ITV Studios deal unlocks more huge brands for Jogo Global

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Jogo Global, the mobile and land-based platform provider and game content developer, has sealed a landmark deal with ITV Studios, gaining access to huge entertainment brands including The Voice and Hell’s Kitchen.

The collaboration agreement sees IP from many of ITV Studios’ leading shows, including global hits Love Island and I’m a Celebrity… Get Me Out of Here! available to add to Jogo Global’s hugely popular collection of Fast Games.

The Fast Games category is a new and novel vertical of casino games, developed by Jogo Global for online, mobile and land-based platforms. Fast Games are immersive multiplayer products, packed with social and community engagement tools and featuring a wide range of highly engaging game concepts, such as Crash, Double, Mines, Pick and Pull Tabs.

David Marcus, CEO of Jogo Global, said: “The start to 2024 has been incredibly positive for Jogo, and nothing has thrilled me more than this hugely significant deal with ITV Studios.

“The Fast Games category continues to go from strength to strength and to be able to build new titles around the IP of shows such as The Voice and Love Island is very exciting. We cannot wait to bring these games to market.”

Steve Watling, SVP Gaming, Global Partnerships, ITV Studios added: “The team at Jogo Global has a track record for taking highly valued IP and combining it with clever concepts to deliver compelling gaming experiences and this collaboration, alongside global operators, will open opportunities in new and established markets.

“We are not only happy to trust Jogo with some of our most valued brands, but we cannot wait to see the games.”

This latest deal with ITV Studios strengthens Jogo Global’s collaborations with world leading entertainment IP and brands.

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