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Red Rake Gaming releases on Baumbet.ro

George Miller

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Red Rake Gaming releases on Baumbet.ro
Reading Time: 2 minutes

 

Red Rake agrees content distribution partnership with Romanian operator, Baumbet.

Premium casino content creator, Red Rake Gaming has partnered with Baumbet to distribute their high-end and innovative suite of top performing casino games. Baumbet is an established brand in Romania where the recent partnership will provide Baumbet the distribution of top performing Red Rake titles and progressive tournament tool.

A selection of the top performing games will be made available to the Romanian licensed operators which include its records breaking Super12Stars – the non-stop, action packed slot which combines feature games and bonus rounds from all its predecessors in the Super series of games, all of which are firm favorites in the region. Additional titles from the diverse portfolio include Million 7 – giving players a million ways to win, The Asp of Cleopatra, Ryan O’Bryan and Mysteries of Egypt , to mention but a few.

The collaboration with Baumbet falls in line with Red Rake Gaming’s strategy of regulated market expansion and increasing its reach through the extensive positioning of Baumbet platform in Romanian market.

Nick Barr, Managing Director for Red Rake Malta, commented on this partnership, saying:We are delighted to partner with Baumbet and look forward to a great partnership ahead.  The partnership will support Red Rake’s continued strategy on increasing market share through regulated markets. We are confident our innovative and top performing content will add value to Baumbet’s existing casino offering and compliment their strong brand offering in Romania”

CCO of Baumbet – Daniel Cordos commented about the deal:Red Rake Gaming is one of the most exciting game provider on the market and well known in the Romania, and this agreement further extends our fantastic portfolio’s impressive reach in the Romania. We are thrilled to sign an agreement with Red Rake, a premium quality supplier with an excellent track-record which fits perfectly with our engaging customer offering.

Partnering with Red Rake will enable us to enhance our business strategy. We know that our network of partners is very excited about the opportunities.

We have no doubt that Red Rake’s exciting game catalogue will continue to perform well in Baumbet.ro mature markets where quality and entertainment value is paramount.”

Eastern Europe

Ukrainian gambling: to be, or not to be, that is (already not) the question

Zoltan Tundik

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Photo by Denys Rodionenko on Unsplash
Reading Time: 4 minutes

 

This article has been created with the help of its author, Oleksandr Aleksyeyenko (Partner at Marchenko Partners) and Sviatoslav Henyk (Senior Associate at Marchenko Partners)

After significant and protracted deliberations, Ukraine finally legalized gambling activities back in 2020. The Law on the governance of the organization and carrying out of gambling activities became effective almost half a year ago. As of the date of writing this article, already 3 licenses have been granted to online casinos for their gambling activities to be performed in the future.

There is still a number of issues and, despite all efforts, the gambling market seems to be standstill except for the mentioned minor movements by local online players obtaining licenses. As of now, it seems that no big international market players are entering the newly born Ukrainian gambling market. So, let`s discuss whether it is all going somewhere and if that somewhere is in the right direction.

 

Ukrainian gambling market background

To see a broader picture, one should unveil the historical background of the current gambling market legalization in Ukraine. First of all, it’s worth mentioning that the Ukrainian gambling market has been actually reopened, but not developed from scratch.

The previously operating Ukrainian gambling market was not so much a success story as one might imagine. There were no huge and fancy casinos like in Las Vegas, but rather a market consisting of different establishments, some of them even legal and compliant. They were shut down by decisive moves of the state authorities in 2009 due to the lack of comprehensive regulations and effective control over their execution, which irreversibly led to negative consequences. As a result, the mentioned flaws contributed to the growth of black and grey gambling services markets. Moreover, the lack of strict rules and their enforcement also formed a public opinion that the gambling market was something antisocial and dirty. Ukrainians still remember well those times when slot machine halls literally surrounded public transport stops and were filled with some not exactly wealthy people giving up their last money in pursuit of a snatch.

At that time, Ukrainian authorities decided to use muscles instead of brains and banned all gambling activities instead of introducing reasonable regulation and taking the situation under control. Thus, starting from mid-2009, all gambling operators were forced to leave the wild, but rapidly growing market. However, as one may guess, the Ukrainian gambling ban was not far from the Prohibition in the United States in terms of its results. Ukrainian gambling market simply went undercover, depriving the Ukrainian budget of significant contributions previously made by the industry.

 

What are the current challenges for the Ukrainian gambling market?

Not so long ago, a logical step was taken by Ukraine and the gambling activities ban was lifted. However, same as in the case with the Ukrainian land market, things are not perfectly smooth and there are still some obstacles in place.

For instance, while three online casinos have already paid for and received licenses, they still can`t fully realize and enjoy the rights of an online casino operator. The reason is that the necessary regulations applicable to certification of the equipment to be used in casinos haven`t been adopted yet. Additionally, there is still a certain lack of clarity in terms of taxation of gambling activities. Some say that a specific volume-based tax will be introduced. However, considering that the licensed operators can`t get any revenues in the absence of the regulations to certify their equipment, the issue of taxation seems to be too far to think about.

Apart from that, one should note that this time Ukrainian government decided to seriously take advantage of the gambling market by imposing comparatively high license fees, financial thresholds, and location requirements (for offline casinos). For instance, the license fee is around USD 1.1 million for online casinos (for 5 years) and USD 10 million for offline casinos if based in Kyiv (additional equipment fees will also apply). Moreover, a gambling operator must have a share capital of at least USD 1.1 million and a deposit account or Ukrainian bank guarantee for USD 1.2 million.

As to the location requirements, under the new legislation, casinos can be opened only at 5-star hotels with at least 150 rooms in Kyiv, 4- and 5-star hotels with at least 100 rooms in other regions, out-of-town resorts with a total area of at least 10,000 m2 or “special gaming zones” within territories to be further defined by the Ukrainian government.

Under the new law, various restrictive regulations of a similar character also apply to betting, slot machine halls, and online poker activities.

 

Opportunities and additional obligations for Ukrainian gambling operators

It is worth mentioning that there are some opportunities for the new market players. The new law provides that such players may obtain investment licenses. Holders of such licenses will be exempt from license fees for 10 years if they build a new 5-star hotel with at least 200 rooms in Kyiv or 150 rooms in another Ukrainian region.

Ukrainian gambling operators will be also obliged to follow certain gambling standards and policies aimed at preventing gambling addiction. The government plans to launch a state-owned online monitoring system. The system will perform a real-time oversight and control of the Ukrainian gambling industry.

To sum it all up, it’s an important aspect that different people might make different conclusions as to the above. Pessimists might claim that this time, the gambling market launch in Ukraine has little chance to become interesting for the largest international market players. However, if evaluated by opportunists, entering the Ukrainian gambling market is definitely worth a shot.

High financial thresholds and strict regulations ensure that the market will not slip into putting dirty slot machines centered around metro stations. It is more likely that the Ukrainian gambling industry will at least somehow resemble what one may observe in wealthy locations like Las Vegas. This puts confidence into the minds of potential investors because the government will not be in a position to cut its own leg by banning a well-governed and budget-supporting industry.

The readiness of the local online casino market players to pay for the licenses which can`t be yet used proves the above statement to be true. It also leads to a conclusion that gambling investors should already be on their way to Ukraine in order to be in a time when the market starts to operate and extreme profits flow into the hands of the few pioneers.

 

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Eastern Europe

SYNOT Group Opens New Showroom in Lviv

Niji Narayan

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SYNOT Group Opens New Showroom in Lviv
Reading Time: < 1 minute

 

SYNOT Group has opened a new showroom in Lviv, Ukraine.

The new showroom houses the latest UP1-24 cabinets from SYNOT. A range of classic cabinets are also available, including DUO, Black & White and Eclipse.

An integral part of the exhibit is the Firebird game compendium, containing 54 games, and three unique game systems, including Explosive Games Premium+, with a package of 47 games combing attractive themes and fruit games.

“The newly opened showroom is located at the premises of Royal Ltd., a company co-founded by SYNOT almost 30 years ago and is still its co-owner, and which is historically one of the most successful companies in the country and the business sector. The showroom is intended primarily for our existing and potential business partners as a demonstration of our latest products. In our showroom, visitors will find the latest cabinets, game sets and systems that contain a wide range of proven products and popular thematic bestsellers. All, of course, under the SYNOT brand. The atmosphere is complemented by an environment stylised in the form of a casino,” Roland Andrýsek, Sales Director of SYNOT Group, said.

“We are currently in a difficult time, when a big question mark hangs over many prestigious international exhibitions in the gaming business, while others are canceled. However, we are still approached by those interested in cooperation from many countries all around the world who want to get acquainted with our products and we want to enable them this opportunity. The newly opened showroom in Lviv offers this option. All, of course, by prior arrangement and in compliance with all currently valid health and safety measures,” Roland Andrýsek added.

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Compliance Updates

GiG powers Magic Jackpot’s online casino launch in Romania

George Miller

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GiG powers Magic Jackpot’s online casino launch in Romania
Reading Time: 2 minutes

 

Gaming Innovation Group Inc. (GiG) has successfully launched a new online casino in Romania for its client, Magic Jackpot and its partner Superbet.

Magic Jackpot is a well-established brand, hosting gaming across machines to 940 of SuperBet’s retail outlets throughout Romania and Poland. It’s online operation launched in early 2021 following Superbet’s acquisition of a majority stake in Lucky 7.

Superbet is the leading sports betting operator in Romania and one of the largest in the world, according to the eGaming Review (EGR) Power 50 annual top of the most important iGaming companies internationally.

To support the launch in the Romanian market GiG acquired two new class II licences for the management and hosting facilities on its iGaming platform and for the production and distribution of software services in the field of iGaming.

Romania’s fast-growing gaming market has doubled in size over the past few years. It has an overall Gross  Gaming Revenue (GGR) of €1.4bn. (source: H2 Gaming Capital, 2020).

Ben Clemes, CCO at GIG, said: “I am excited that we have gone to live in Romania with Magic Jackpot, a well-recognised local brand, with a retail footprint across the country. GiG’s technical iGaming platform combined with the local experience of Superbet and operational expertise at Magic Jackpot will provide a market-leading experience to their players. It’s a proud moment for GiG to power the launch of a new brand while entering another regulated jurisdiction, which we have seen accelerate over the past few years and we look forward to developing our presence further throughout 2021. 

Magnus Petersson, the co-founder of Magic Jackpot, said: “The Romanian project started back in June and was a completely new market for us, but with the help from Superbet and GIG we managed to pull it off in 8 months. Considering it is a highly regulated market, 8 months is a great achievement we all can be proud of. We’re fortunate to partner up with the largest sports betting and casino operator in Romania and among the top 30 in the world. “

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