Industry News
Bet365 to move operations to Malta post-Brexit
In a significant development, Bet365 has decided to move its operations to Malta from Gibraltar as soon as the UK completes its Brexit process next year, according to a report published in The Sunday Times of Malta.
Bet365, fully owned by a British family, had a revenue of €1.5 billion in 2015. The move will see about 1000 jobs relocating to Malta from Gibraltar, which will undoubtedly boost Malta’s economy.
The owners of Bet365 have already inked a sale agreement to buy a large new property in the Tigné peninsula in Sliema, which will become the new hub of its operations.
The promise of sale will come into effect as soon as Brexit materialises, and the British company is expected to pay some €70 million to buy the Sliema property.
Sources close to the gambling industry told The Sunday Times of Malta that the relocation of Bet365 to Malta would be a game changer for the island, as it is expected to create a major economic boost.
“It is not every day that 1000 well-paid employees are relocated to Malta. Apart from the fact that we are talking about the largest sports betting company in the world, with some 23 million customers, 1000 new individuals and their families looking for a place to stay for quite some time on a small island will mean significant business,” the sources said.
At the same time, the sources said that there will be a downside to this “massive relocation,” as rents for housing in the area have already started increasing drastically as rumours about the move make the rounds.”
“The problems of increasing congestion and overcrowding in the Tigné area will also continue to become a major problem,” the sources added.
Bet365 has been eyeing the possibility of relocating its major operations to Malta for quite some time, and this was made more likely following the UK’s Brexit referendum, in which the electorate chose to leave the EU.
Malta has become very attractive to online gambling companies due to its low taxation regime and its membership of the EU.
Already registering three companies in 2014, Hillside (New Media Malta) plc – the operating company of the Bet365 group – acquired a remote gaming licence from the Malta Gaming Authority in 2015.
At the time, the company said that this was due to “regulatory developments in various operating territories.”
Following the UK’s Brexit vote, Hillside registered a new property management company in Malta last year, increasing its paid share capital to €12.5 million to invest in the acquisition of the property in Sliema.
Last month the company finalised its plans to transfer part of its business to Malta and registered another company, Hillside (Shared Services Malta) Ltd.
Founded by Denise Coates in 2000 in Stoke-on-Trent, the company fast developed into a multimillion-euro operation with some 3500 employees across the globe.
Apart from Gibraltar, it also operates a massive business in Australia and has a small office in Ta’ Xbiex in Malta.
The company chairman, Peter Coates, Denise Coates’s father, is also the chairman and owner of Stoke City Football Club, which this year was relegated from England’s Premier League to the Championship.
A lifelong supporter of the British Labour Party, Mr Coates is known as having donated hundreds of thousands of pounds to the party.
One particularly large donation coincided with the relaxation of gambling legislation and the lifting of a ban on television advertising by the UK’s Labour government in 2008.
Source: timesofmalta.com
Industry News
LiveScore Group Announces Internal Restructuring as Part of Sustainable Growth Strategy
LiveScore Group has announced an internal restructuring process, expected to impact more than 100 existing roles across multiple business locations, including London.
The changes are seen as a difficult yet important step for LiveScore Group, streamlining the business to create improved structures and a pathway to long-term sustainable growth. All impacted employees have been informed and are now subject to a confidential consultation process.
Sam Sadi, CEO of LiveScore Group, said: “On behalf of all Directors of LiveScore Group, and the relevant subsidiary companies, we are saddened by the difficult decision to commence an internal restructure of the business, a process which impacts a significant number of our people.
“Whilst we celebrate our recent period of significant and exciting growth, we must now future-proof the organisation and ensure our internal structures allow us to achieve long-term and sustainable success.
“This is a hard time for all our people, as we say goodbye to colleagues who have played an important role in our journey across recent years.”
The announcement follows on from the recent news that LiveScore Malta Limited (part of LiveScore Group) is to withdraw its LiveScore Bet brand from the Netherlands following recent government tax increases in the market. The announcement includes those impacted by this. There will be no other customer impact in respect of any of the remaining LiveScore, LiveScore Bet or Virgin Bet sites globally.
Industry News
Pronet Gaming Appoints Alex Karaoulis as its New Commercial & Product Strategy Lead
Pronet Gaming, an award-winning platform provider of full turnkey solutions, announced the appointment of Alexandros Karaoulis as its new Commercial & Product Strategy Lead.
With over 14 years of experience in the iGaming industry, Karaoulis brings a wealth of knowledge and expertise that will be instrumental in driving the company’s strategic initiatives forward.
Throughout his iGaming career, Karaoulis has held various senior roles with B2B sportsbook and casino providers, as well as with B2C operators. His extensive background in marketing and sales within the iGaming sector positions him as a true industry expert, ensuring that Pronet Gaming remains at the forefront of innovation in a rapidly evolving market.
“I am thrilled to join Pronet Gaming and excited to fulfill my role in developing and executing sales strategies to drive the company’s revenue growth in key markets,” Karaoulis said.
With a track record in commercial strategies and driving product excellence, Karaoulis’ appointment is invaluable as Pronet Gaming now seeks to expand its footprint to Asia. His vision and deep understanding of the iGaming landscape equip him to navigate the unique challenges and opportunities that the dynamic region presents.
“I want Pronet Gaming to lead the iGaming revolution by providing innovative, culturally tailored solutions that cater to the diverse and rapidly growing demands of the region. Through strategic partnerships, cutting-edge technology, and a deep understanding of local markets, we aim to empower operators to offer world-class gaming experiences that engage players and drive sustainable growth,” he added.
According to Karaoulis, Pronet Gaming is poised to make a splash in Asia by leveraging its advanced technology, flexible platform solutions and deep market expertise while adapting to the unique characteristics of the region.
“The key differentiation point of Pronet Gaming is that we have B2C experience, which greatly aids in understanding the needs of operators and helping them to improve and execute their strategy according to the market. I have worked in B2C roles for more than seven years in my iGaming Career and managed campaigns across various channels, optimised conversion funnels, and learned to use data to improve player acquisition and retention,” said Karaoulis.
Karaoulis acknowledges that the marketing skills he has acquired from B2C experience are valuable in every B2B environment. As he dives into his new role at Pronet Gaming, Karaoulis aims to guide his operator clients on how to better market their own sites, including providing them with advice on effective acquisition strategies, content marketing and campaign structures that appeal to iGaming audiences.
“I also focus heavily on engagement strategies, loyalty programs, bonuses, and personalised offers to keep players active and returning. In my new B2B role, I will advise clients on best practices for player engagement, helping them adopt effective loyalty programs, personalised marketing, and retention tactics that drive player lifetime value to improve the end-player experience for our clients’ sites,” Karaoulis added.
Industry News
Vbet Wins Best Online Casino Operator 2024 at SiGMA Europe 2024
Vbet has been crowned the Best Online Casino Operator 2024 at the highly coveted SiGMA Europe event, cementing its position as a leader in the online gaming industry.
This achievement highlights Vbet’s commitment to providing an exceptional user experience by combining cutting-edge technology with a vast range of options and a secure process. The dedication to creating a responsible, enjoyable environment for players was recognised with this award, making this accolade even more significant. As Vbet continue to expand into new markets, the list of strategic partnerships grows alongside our constant drive to expand its offering. This award serves as a stepping stone on its path to reach more players and set new standards in the industry.
Arman Khachatryan, VBET’s Managing Director, said: “We are incredibly proud to receive the Best Online Casino Operator award at SiGMA Europe 2024. This recognition is a testament to the hard work, passion, and effort of our entire team. Our mission has always been to deliver the highest quality experience in the safest environment possible to our users. This award not only recognizes our dedication to this mission but also motivates us to continue expanding into new markets and territories.”
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