Eastern Europe
Gaming Innovation Group to enter the Croatian market
Gaming Innovation Group, Inc. (GiG) has today signed a share purchase agreement to acquire 75% of the shares of Croatian company Top Games d.o.o. (Top Games), a company which qualifies for a remote gambling permit.
The agreement provides market access to one of GiG’s in-house brands. It is based on a collaborative partnership model, expanding GiG’s B2C online gaming offering in a growing regulated market. Both parties will co-operate in the ongoing operation of the business.
GiG will acquire 75% of Top Games with the remaining 25% retained by the local partner who has a successful history in land-based casino businesses. The payment for this acquisition is solely based on a contribution of resources by the shareholders with no cash being paid. The local partner will upfront the initial costs, whereas GiG will provide rights of use of brand, a gambling platform and operational expertise.
GiG is planning to enter the online casino market in Croatia via this partnership in the first half of 2020. GiG expects moderate impact on its revenues deriving from this agreement from H2 2020 with an accelerated increase in revenue contribution from H1 2021.
Croatia has a population of approximately 4.1 million and is a regulated market, currently with six licensed online casinos. Croatia supports the locally regulated online operators by IP blocking both offshore and other non-regulated operators. The total gambling gross win in Croatia has an estimated total value of approximately €360 million in 2020e*. Online gambling in Croatia is subject to a gambling duty of 15%.
Richard Brown, acting CEO of GiG says: “I’m excited to further expand our B2C business by entering another regulated jurisdiction. Croatia is a very interesting marketplace for gambling and supports our strategy to grow our own brands in high potential and regulated markets. GiG has a track record of creating responsible gaming experiences with a captivating UX. This is a good opportunity to showcase the strength of our online casino offering and our passion for providing end users with a safe, responsible and competitive online gambling experience.”
The transaction is subject to the conclusion of regulatory approvals.
Eastern Europe
EGT Digital and PublicWin: A Successful Combination in Romania
One more prominent betting site in the Romanian market enriched its gaming portfolio with the top-performing slots of EGT Digital. The titles of Bell Link and Clover Chance jackpots have won the hearts of the visitors to PublicWin’s site since the very beginning, currently being among their favourites.
Tsvetomira Drumeva, Head of Sales at EGT Digital, said: “We are happy that EGT Digital’s games are once again demonstrating excellent performance. We would like to thank Public Win for choosing us as one of their providers of high-quality casino games, and I believe that we will soon have the opportunity to expand our partnership with them.”
Alex Marin, COO at PublicWin, said: “EGT Digital’s titles fit perfectly into our concept of always offering to our customers fresh and attractive gaming content. The results so far show that we have made the right decision and in the near future players on our site will be able to enjoy more slot products of the Bulgarian provider.”
Compliance Updates
Romania Bans Gambling Venues in Small Towns and Villages
Romania has announced a ban on gambling venues in small towns and villages with populations of less than 15,000 residents.
What’s known as the “law of slot machines” was passed by deputies in the lower house of parliament. “It is the first law adopted in Parliament in 30 years against this mafia that has controlled the political world until now,” said Alfred Simonis, the leader of the Social Democrats.
“Right now we are fighting an industry that has a total turnover of €10-12 billion.”
Industry figures complain they were not consulted, and hope that the authorities will control the black market as they promised.
Despite the unanimous vote, there was some dissent within the chamber. Two opposition parties that want to ban the “scourge” of gambling outright accuse the government of collusion with the gaming sector for not taking a stronger position.
On another front Ionut Mosteanu, the leader of the opposition USR, questioned how lawmakers had set the threshold.
“They thought that slot machines only damage 15,000 people,” he said. “There was not even a debate to see how many townships qualify for this 15,000. Why not 16, 17, why not two million and you would ban them definitively?”
Gambling venues have become ubiquitous across Romania over the last few decades. The National Gaming Office, the state body that monitors and approves the sector, has registered 12,000 sports betting, bingo, casino, lottery rooms.
The state collects taxes from gambling venue licenses and online ticket sales as from the amount betting houses spend on advertising.
There are no recent data to indicate how many people in Romania are addicted to gambling. The last survey was conducted in 2016, and found that there could be around 100,000 addicted people across the country. The number today could be much higher.
Conferences in Europe
Altenar becomes General Sponsor of EEGS 2024
The acclaimed Eastern European Gaming Summit (EEGS) gladly welcomes Altenar, a leading sports betting software provider, as a General Sponsor for this year’s edition of the event. The conference will be held on 27th and 28th of November at the IEC, Sofia, Bulgaria. For another consecutive year Altenar joins the event as a major sponsor with total commitment for fostering innovation and growth in the gaming and entertainment industry, as a whole. This enduring long standing partnership has brought significant mutual benefits and opportunities for both parties and all event participants over the years.
Altenar is delivering best-in-class solutions for licensed operators around the world. Ranging from a standalone sportsbook product to the provision of a turnkey sportsbook solution, Altenar offers proven stability coupled with a flexible and personalised service.
Launched in 2011, Altenar powers hundreds of online sports betting sites, while their self-service betting terminals and mobile app help ensure they meet all operator needs, with an exponentially growing client base in more than 30 countries.
Altenar COO Dinos Stranomitis said: “In Altenar we consider EEGS and BEGE as a key event to establish connection with East and Southeast Europe. Considering that Bulgaria is playing a key role in that region, our presence is a must. See you in Sofia.”
Altenar is an invaluable partner, thus contributing to the success and vibrancy of EEGS itself. The continued support highlights a shared commitment to excellence and progress within the industry, making this year’s event an essential platform for associated industry luminaries and entrepreneurs to explore the latest trends and opportunities in gaming, entertainment and hospitality in general.
The Eastern European Gaming Summit (EEGS), the premier conference of the region, provides a dynamic platform for industry leaders, innovators, and entrepreneurs to connect, collaborate, and explore the latest trends and opportunities shaping the gaming and entertainment landscape.
No doubt you wish to position your company alongside the Conference and exploit our expertise.
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