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A GAME ABOVE and Beanstalk Launch “Yield Sec”

Niji Narayan

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A GAME ABOVE and Beanstalk Launch “Yield Sec”
Reading Time: 2 minutes

 

Customer experience marketing agency A Game Above has teamed up with the player protection company Beanstalk and launch “Yield Sec,” a new solution to help combat illegal gambling.

A GAME ABOVE and Beanstalk have stated that they have developed the first tool helping governments and regulators, monitor and remove “black market threats,” obstructing the progress of regulated marketplaces for licensed incumbents.

Yield Sec will support regulatory authorities with a real-time solution and database actively monitoring the activities of illegal black market websites targeting individual marketplaces and vulnerable customer segments.

“The operation of a sustainable marketplace, with cared-for customers and practically excluded minors and at-risk audiences, whilst raising valuable taxation revenues for society, predictably, is the perfect way to support our shared mission across A GAME ABOVE and Beanstalk: the customer experience,” Steen Madsen, CEO of A GAME ABOVE, said.

“Player protection and the operation of a sustainable, responsible industry, onshore and subject to regulation, are, in our view, simply facets of the customer experience, overall,” Steen Madsen added.

The product will allow governments and regulators to establish a “regulatory ring-fence for all licensed and soon-to-be licensed markets,” which A GAME ABOVE and Beanstalk hope will prevent “the failure to fund good causes and the outright theft of legitimate tax yield by illicit black market operators.”

“After an intensive period of research and development, we’re pleased to be announcing the launch of Yield Sec. Across most markets today, those at risk of gambling-related harm do not know where to effectively turn when facing a problem,” Jack Symons, Co-Founder and Director of Beanstalk, said.

“Escaping a spiral of continued, compulsive play is almost impossible when no gambling cessation helpline or tool has historically worked to effectively exclude the black market. Yield Sec will achieve this and provide for meaningful player protection. Caring for the vulnerable is ineffective if we only place conditions upon licensed operators but then leave the unregulated black market openly available,” Jack Symons added.

Yield Sec developers stated that an effective black-market monitoring solution is needed during a time of disruption across multiple markets, in which government and regulators aim to harmonise regulatory measures balancing player protection and taxation yield measures.

Bill Pascrell, III, President, North America for A GAME ABOVE, said: “For governments and regulators, Yield Sec is a tool for our time and the sustainable future of regulated online betting and gaming.

“Despite the loss of nearly all professional sport over the COVID-19 crisis, it is clear that black-market betting and gaming sites and apps benefited enormously – at no other point in history have we seen the broad presence and availability of so many unlicensed, unregulated offerings, none of which pay any tax, protect any players or provide for those at risk.

“In targeting regulated territories, these black market operators are effectively stealing taxpayers’ money and avoiding the contributions that licensed, responsible operators make to good causes and the prevention of gambling-related harm.”

Industry News

Mindway AI Appoints Birgitte Sand as a Board Member

Niji Narayan

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Mindway AI Appoints Birgitte Sand as a Board Member
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Mindway AI has announced the appointment of former director-general of the Danish Gambling Authority Birgitte Sand as a board member.

Being the previous director-general at the Danish Gambling Authority for 12 years, Birgitte Sand brings extensive experience with regulating the gambling industry. She was responsible for a gambling licensing regime covering both betting, online casino, land-based casinos, lotteries and gaming machines. Today, Birgitte Sand is the CEO and owner of Birgitte Sand & Associates ApS and provides expert advice to governments and the gambling industry.

With Birgitte Sand entering the board of directors, the regulatory perspective in Mindway AI’s ongoing pursuit to create a sustainable and safe gambling experience is strengthened.

“We are very pleased to welcome Birgitte Sand as our new board member. From her many years as Director General at the Danish Gambling Authority and her national and international recognition, Birgitte has a level of regulatory expertise and insights that will further support our vision to improve responsible gambling and create a sustainable gambling environment,” Rasmus Kjaergaard, CEO of Mindway AI, said.

“I am extremely pleased to have this opportunity to support the expansion and deployment of software solutions that have so much to offer in both prevention and protection. Innovation in this area is highly sought after, and Mindway AI has in a short time created convincing solutions and at the same time demonstrated great potential,” Birgitte Sand said.

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Industry News

Holland Casino’s Gross Income Down 54% in 2020

Niji Narayan

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Holland Casino’s Gross Income Down 54% in 2020
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Holland Casino has reported a gross income of €333m for the full year 2020, a 54% decrease from the prior-year period.

The operator reported a loss before corporate tax of €80.7m, a 190% decline from 2019. Visitor numbers meanwhile were down 60% year-on-year to 2.5 million, largely due to government restrictions amid the ongoing Covid-19 pandemic, with the firm’s 14 branches closed for the majority of 2020.

Throughout the year, the venues were completely closed for 143 days, open with restrictions for 151 days, and open without restrictions for 71 days. Average spend per visit did, however, increase by 14% year-on-year to €133.

“Despite the constantly changing circumstances and major challenges that this crisis year caused, I firmly believe that we will get through it well,” Erwin van Lambaart, CEO of Holland Casino, said.

“This is due to the resilience of our people, general government support measures, focus on cost control and a clear strategic investment vision for the future. Together, this has meant that we were always able to anticipate the consequences of this crisis.”

Looking to the future, the operator commented: “Holland Casino is a cyclical company and will therefore suffer from the expected economic recession. Nevertheless, the company is optimistic about the future. The restructuring means that everyone is in the right place, the organization is more efficient and agile, and there is a future-proof new structure that guarantees continuity.”

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Industry News

UK Court Clears William Hill’s £2.9B Takeover by Caesars

Niji Narayan

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UK Court Clears William Hill’s £2.9B Takeover by Caesars
Reading Time: < 1 minute

 

William Hill has said that its £2.9bn takeover by Caesars Entertainment had been cleared by a UK court despite shareholder protests.

The bumper merger had been held up by a court hearing after minority shareholder HBK Capital Management raised concerns about disclosures relating to the deal.

HBK and fellow US hedge fund GWM Asset Management both wrote to the board arguing that the terms of the joint venture were not properly disclosed by William Hill last year.

The court process was delayed for almost three weeks, but in the latest statement, the bookmaker said the deal had been sanctioned by the court.

The deal, which was agreed in September, highlights efforts to cash in on the burgeoning US betting market amid a relaxation of regulations.

“The opportunity to combine our land based-casinos, sports betting and online gaming in the US is a truly exciting prospect,” Tom Reeg, chief executive of Caesars, said.

“William Hill’s sports betting expertise will complement Caesars’ current offering, enabling the combined group to better serve our customers in the fast growing US sports betting and online market.”

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