Connect with us
SoftSwiss
Playson

Latest News

Cyprus Parliament Begins Discussions on Sports Betting Law Amendment

Niji Narayan

Published

on

Cyprus Parliament Begins Discussions on Sports Betting Law Amendment
Reading Time: < 1 minute

 

The Cyprus parliament has begun discussions on amending the nation’s Sports Betting Law.

One of the proposed changes to the sports betting law includes the utilisation of a percentage of all tax revenue generated from betting to support, educate and medically treat footballers across all levels in Cyprus.

More specifically, the amendment proposes that 0.3% of all income stemming from sports betting is funnelled into the programmes of professional players’ union PASP. These programmes include helping football players’ mental health.

PASP’s programmes also support the Red Button initiative, which aims to immediately detect fixed matches, as well as providing education and support to PASP members through college scholarships, specialised training, and more.

These programmes are beneficial to the entirety of Cypriot football, including players themselves, clubs, the Cyprus Football Association and all other bodies involved in the sport.

“We salute this proposal put forth at the House of Representatives which has finally triggered a discussion after a period of three years. We are certain that the relevant officials will decide what’s best for the common good of Cypriot sports,” Spyros Neofytides, executive president of PASP, said.

Industry News

Aspire Global Reviews Role of B2C Segment Within Group Structure

Niji Narayan

Published

on

Aspire Global Reviews Role of B2C Segment Within Group Structure
Reading Time: < 1 minute

 

Leading iGaming provider Aspire Global has announced a review of its B2C segment. The segment reported record-high revenues in Q4 2020 and comprises the well-known European online casino brand Karamba alongside other local proprietary brands.

The review will assist the Company to focus on its growing B2B ambitions and its market-leading technology, while also accelerating the B2C’s revenue growth and reinforcing the record high revenues it achieved in Q4 2020.

The announcement follows Aspire Global’s Q4 and FY 2020 results on 18 February 2021, with the company reporting record-high revenues of €161.9 million for 2020 and the Group’s EBITDA amounted to a record €27.1 million.

“We are very pleased with the growth and results recently recorded by the business’ B2C segment, but we think a review will assist us to better assess our options to further accelerate our growth. Such a move could help improve Aspire Global’s overall margins and EBITDA and potentially help us accelerate new B2B initiatives and enter fresh markets. Overall, we are well positioned to capitalise on the array of opportunities available to us in the global, fast-growth iGaming industry,” Tsachi Maimon, CEO of Aspire Global, said.

Continue Reading

Industry News

Esports Entertainment Group Completes Acquisition of Lucky Dino

Niji Narayan

Published

on

Esports Entertainment Group Completes Acquisition of Lucky Dino
Reading Time: < 1 minute

 

Esports Entertainment Group has announced that its Malta gaming licensed subsidiary, Esport Entertainment (Malta) Limited, has completed its acquisition of the business assets of Lucky Dino Gaming Limited (Lucky Dino).

The ~$30 million deal was financed through cash raised in an equity offering in February.

“Over the past five years, Lucky Dino has evolved from a single brand white-label casino operator into a multi-brand, class-leading casino operator and technology business. In addition to further strengthening our tech stack, Lucky Dino’s assets will give us a substantial foothold in multiple new jurisdictions across Europe, particularly in Scandinavia where esports are extremely popular, and with Lucky Dino’s 25K monthly active casino players we will have tremendous cross-selling opportunities with our SportNation and VIE.bet betting platforms,” Grant Johnson, CEO of Esports Entertainment Group, said.

“Lucky Dino has generated an impressive track record of growth, reporting an 86% CAGR on revenue for the five years ended June 30, 2020. With opportunities to realize synergies across shared back-office functions, payment processing and more, we are in a great position to build upon Lucky Dino’s notable EBITDA performance. Ultimately, we will look to bring this exciting online casino platform to the U.S. in the future alongside our VIE.bet esports offering,” Johnson added.

Continue Reading

Latest News

English Casino and Bingo Operators Optimistic About Reopening

Niji Narayan

Published

on

English Casino and Bingo Operators Optimistic About Reopening
Reading Time: < 1 minute

 

The Casino and bingo hall operators in the UK are optimistic about their reopening following Prime Minister Boris Johnson’s announcement of planned dates for the easing of lockdown restrictions in England.

Under the government roadmap to exit lockdown, betting shops in England will reopen on April 12 and gambling centres, bingo halls and casinos on May 17.

Miles Baron, chief executive of the Bingo Association, said in an interview with Rank Group: “The land-based bingo industry is delighted to have a firm date to reopen.

“Thousands of bingo customers have been contacting us via social media to tell us how much they miss social contact and how safe they feel in a bingo club.

“Industry data tells us that 90 per cent of our customers visit bingo with either family and friends, so I have no doubt that on 17 May we will see our customers flooding back to bingo clubs to play their favourite game once again.”

Simon Thomas, CEO of Hippodrome Casino, is also optimistic about the results after reopening.

He said: “The government has spoken! So it’s with cautious optimism that I can announce that we will reopen on Monday, May 17.

“You can imagine how delighted we all are, and in the next few weeks we’ll be finishing off the work we’ve undertaken while we’ve been closed. There’s a brand new casino floor in the gods high up on the fifth floor, a new poker deck with many more tables, and other improvements to make us bigger, better and busier.”

Continue Reading
Advertisement
NSoft
Advertisement
EvoPlay Entertainment
Advertisement
Kasyno Online na HEX Polska

Subscribe to our News via Email

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

Trending

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.