Industry News
Andorra casino tender process runs into legal challenge
Andorra’s tender process and the resultant decision to award its sole casino license to a small local company is going to face legal challenges. The bidders who lost out – some big companies among them – are going to mount a legal challenge against the tender and subsequent decision.
Here is the story so far. In June, Andorra’s gaming regulator, Consell Regulador Andorrà del Joc (CRAJ), announced that local firm Jocs SA had won the competition to build a €15m, 4,000-square-meter casino in the capital Andorra la Vella. The venue is tipped to open in September 2020.
This decision baffled many of the big international casino operators who’d submitted bids, including Malaysian giant Genting, who’d vowed to spend nearly ten times the amount that Jocs (which translates as Games) had budgeted. Now, after a little digging, five of these jilted giants think they smell a rat.
The aggrieved operators – Genting, Barrière, Casinos Austria, Cirsa and Partouche – questioned how SIQ, the Slovenian company that helped the CRAJ evaluate the bid criteria, could have awarded Jocs full marks for having 10 years experience managing casino operations, in that Jocs has zero experience running casinos, only bingo halls.
Furthermore, Jocs has partnered with Austria’s Novomatic Group to provide the new casino’s gaming technology, and it turns out that local engineer Francesc Armengol, who did freelance work with SIQ, also used to work for Novomatic’s Spanish unit.
This ‘a-ha’ moment prompted the furious five to submit formal requests to the government last month for a legal review of the tender, seeking a complete do-over based on the “serious irregularities” that had arisen. The government has three months in which to respond.
Armengol has been doing the local media rounds, loudly proclaiming his innocence and impartiality, insisting that he cashed his last Novomatic paycheck in September 2013 (although he appears to have remained on their books for years afterward), and that he wasn’t even aware that the Slovenian firm had been tasked with studying the casino bids.
Armengol has also threatened to file legal action of his own against the five casino operators who’ve made these “totally false” allegations against him.
Meanwhile, Jocs continues to proceed as if nothing happened, requesting building permits from Andorra la Vella’s mayor Conxita Marsol, who says initial work on the project could begin as early as next month.
Source: calvinayre.com
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.”
Industry News
ICE Barcelona to deliver razor-sharp focus on LatAm and evolving Brazilian Market
January’s first edition of ICE Barcelona will feature a programme of content, discussions and C-suite networking curated specifically to meet the needs of the new regulated market in Brazil and the broader opportunities which exist in Latin America.
Living up to its reputation for being the business-to-business event which is at the forefront of industry developments across both regulation and emerging technologies ICE 2025 will feature a three day program which is dedicated to all aspects of the market in Brazil including regulation, compliance and the adoption of new technologies including the use of biometric recognition in relation to age verification and consumer protection.
Announcing the program and confirming ICE Barcelona’s role as the meeting place for international decision-makers and stakeholders, Clarion Gaming Managing Director Stuart Hunter said: “ICE was recently described in trade media as being the most important gaming event on the ‘planet’ and I believe that the show will live-up to that accolade when we welcome the world industry to our new Barcelona home in January.
“Some industry events place a strong emphasis on the past but for ICE our focus is unashamedly on the future. To this end we have been working closely with colleagues and stakeholders in Latin America to ensure that ICE is on the front foot bringing together the lawmakers, regulatory bodies, thought leaders, operators, innovators and technology providers all of whom have an important role to play in developing the market infrastructure.”
He added: “The importance of LatAm will be evident from the very start of ICE Barcelona when Vicente Fox, the former President of Mexicoheadlines the World Regulatory Briefing taking place Monday 20 January when he will address the topic of ‘Regulation and Revitalisation’ and the requirements needed to balance economic growth with community protection.
“A critic of the populist movements sweeping the region, he will outline his business-centric approach to the development of Mexico, and why he favours casinos as a tax benefit to reduce Mexico’s dependence on unpredictable oil income, and for heling to grow the local tourism industry. The keynote reflects the importance of Latin America as a leading voice in the global gambling industry and represents a major coup for ICE Barcelona.”
“The following day we will be staging a seminar which will cover the very latest business-critical information on the market in Brazil which will be supplemented by sessions focussed on Latin America. On the closing day the LatAm sessions will address the key issue of responsible gambling including the ground-breaking use of biometrics which will be of huge interest to regulators and operators from throughout the world.”
He concluded: “In all of the extensive research that we undertake in order to identify the most important issues impacting the business Brazil and Latin America consistently top the list. By attending ICE Barcelona gaming industry professionals will be able to connect with the main players, learn everything they need to know about doing business in Latin America and find the right organisations to collaborate with. For anyone with an interest in Latin America and in particular the Brazilian iGaming market ICE Barcelona is undoubtedly the place to be.”
For more information on the world’s greatest gathering of gaming professionals and to register: icegaming.com
Industry News
FDJ Announces its First Bond Issue
La Française des Jeux (FDJ), one of Europe’s leading betting and gaming operators, will meet investors over the next days with a view to launching its first bond issue, subject to market conditions.
FDJ recall that, on 7 November, Moody’s assigned the Group a long-term credit rating of Baa1 – stable outlook.
With a total value of €1.5 billion, in 3 tranches with maturity of 6, 9 and 12 years, the bond issue would be used to refinance most of the €2 billion bridging loan, drawn on 7 October to finance the acquisition of Kindred shares for nearly €2.5 billion. The bonds will be listed on the Euronext regulated market in Paris.
Furthermore, FDJ is finalising a €400 million syndicated loan with top-tier French and international banks, which will be repaid over 5 years. This financing is also intended to repay the bridging loan which will be settled with Group’s cash.
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