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Vereeni Investments adds Moneyball stake to fast-growing portfolio

George Miller

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Vereeni Investments adds Moneyball stake to fast-growing portfolio
Reading Time: 2 minutes

 

Venture capital fund Vereeni Investments had made its latest move with a significant investment into Australia’s leading daily fantasy sports operator Moneyball.

The agreement will see Vereeni acquire a majority stake in Moneyball in return for a seven-figure investment.

Launching in 2015, Moneyball was the first Australia-facing daily and weekly fantasy sports operator and is powered by an innovative proprietary platform.

It holds licences applicable to all Australian states and offers a range of contests across multiple sports, including NRL, AFL, EPL, NFL, NBA, PGA, MLB, horse racing, and cricket.

The operator is also expanding internationally with a growing presence in India since 2016, and expects to be live in the US soon with other markets set to follow.

Timothy John Heath, founder and CEO of Vereeni Investments, said: “Acquiring a stake in Moneyball adds another important and complementary asset to the Vereeni ecosystem.

“Moneyball is already established as Australia’s number one daily fantasy sports platform, and we see huge potential for further growth, both in Australia and internationally.

“As an operator that has innovated from the outset, Moneyball is a perfect fit with Vereeni and we are excited to see what the future holds.”

James Fitzgerald, co-founder and co-CEO of Moneyball, said: “We are absolutely thrilled to have Vereeni Investments onboard.

“Becoming a part of the Vereeni family positions us strongly for further growth, giving us access to unparalleled global reach and expertise within the gaming sector.

“Daily fantasy sports is still a massively underserviced sector with potential to grow much faster than the broader market. We have spent the last three years searching for a partner to help us deliver on this potential, and in Vereeni we have finally found one.”

Moneyball joins Vereeni’s €100million ‘Level Up’ tech fund alongside a range of other promising early-stage ventures across the fintech, online gaming, business intelligence, insuretech and blockchain verticals, including Global Gaming, OneTouch and Singular.

George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Australia

Two ALH-run hotels on North Coast to disciplinary complaint over gaming practices

George Miller

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Two ALH-run hotels on North Coast to disciplinary complaint over gaming practices
Photo Source: westowertavern.com.au
Reading Time: 1 minute

 

The NSW Independent Liquor & Gaming Authority (ILGA) will consider a disciplinary complaint alleging that two ALH-run hotels on the North Coast illegally gave free alcohol to gaming machine players to keep them gambling.

Liquor & Gaming NSW has lodged the complaint against Westower Tavern at West Ballina and South Tweed Tavern at South Tweed Heads.

This follows a comprehensive investigation into ALH venues which included inspections of more than 50 NSW hotels, with more focused investigations into four hotels.

The investigation included covert surveillance, coercive interviews of licensees, staff and other witnesses, review of CCTV, and examination of records and systems.

In two cases, where sufficient evidence was obtained, disciplinary complaints have been lodged.

In the other two cases, which involved Sydney metropolitan hotels, there was insufficient evidence to proceed to a formal complaint.

The complaint lodged with ILGA alleges that the practice of supplying gaming patrons free alcohol was systemic at both North Coast hotels.

Under NSW gaming laws, it is illegal to offer or supply free or discounted alcohol to induce gambling.

ILGA has broad disciplinary powers where it is satisfied that any of the grounds on which the complaint was made apply.

For hotels that breach gaming laws, penalties include formal reprimands, fines up to $110,000 and suspension or cancellation of licences.

It is not appropriate to make any further comment until ILGA has considered the complaint.

It is usual practice for ILGA to publish reasons for decisions once it finalises disciplinary complaint proceedings.

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Australia

Have Your Say On NSW Gaming Machine And Casino Regulations

George Miller

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Have Your Say On NSW Gaming Machine And Casino Regulations
Photo Source: abc.net.au
Reading Time: 1 minute

 

The NSW Government is inviting community and industry feedback on a number of minor administrative changes being proposed as part of a mandatory remake of the Gaming Machines Regulation 2010 and Casino Control Regulation 2009, which are due to expire on 1 September.

The proposals seek to align the regulations with modern practice by updating descriptions of compliance processes and general terminology.

There are also plans to update harm minimisation measures to help prevent and reduce gambling harms.

Casinos and venues with gaming machines need clear and effective regulations to ensure they operate with the highest standards of integrity and compliance, and practise responsible conduct of gambling.

The proposed regulations and Regulatory Impact Statements explaining their effects, costs and benefits are available on the Liquor & Gaming NSW website.

Feedback is welcome and will be considered before the proposed regulations are finalised.

Submissions close on Wednesday 17 July.  To find out more about the proposed regulations and how to submit your feedback, visit https://www.liquorandgaming.nsw.gov.au/community-and-stakeholders/have-your-say/community-consultations/current-consultations

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Australia

Community members to share experiences of harm from online gambling to help others

George Miller

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Community members to share experiences of harm from online gambling to help others
Reading Time: 2 minutes

 

The Gambling Impact Society (GIS) has launched its Lived Experience Project to help the community better understand harms linked to online gambling by hearing from people with first-hand experience.

The project, funded by the NSW Office of Responsible Gambling, is seeking people from across NSW who have personal experience of online gambling harm to share their story.

Peer educators are supported to deliver one-hour community education sessions across NSW regional centres. Audiences will include community members, welfare services, community groups, health services and corporate organisations.

The Director of the Office of Responsible Gambling, Natalie Wright, said: “We hope to build community awareness of the harm that can be experienced by some people from online gambling through this project, and encourage those struggling to seek help.”

The program harnesses the power of real-life experiences as a powerful tool in helping people understand the impacts problem gambling can have.

“It’s common for people at risk of gambling harm to relate easily to others who have experienced what they are going through and overcome their problem,” Kate Roberts, Executive Officer of GIS, said.

“Starting a conversation can help de-stigmatise the subject of problem gambling and encourage people who are suffering in silence to reach out for help.”

The project is working towards spreading awareness about problem gambling and promoting self-help and professional support to those affected. While helping individuals who may be affected by gambling harm, community and welfare services can also benefit from increased understanding of problem gambling.

This support is part of the NSW Government’s record $25 million funding commitment in 2018/19 to help tackle gambling harm in communities across NSW.

If you are interested in becoming a part of this project, or if you would like more information on the project, please contact Kate Roberts 0401 370 042 or email info@ginsw.org.au.

For more information on the Gambling Impact Society visit www.ginsw.org.au.

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