Industry News
Better Collective becomes majority owner in Mindway AI
Better Collective increases its ownership to 90% of the shares in Mindway AI that specialises in software solutions based on artificial intelligence and neuroscience for identifying, preventing and intervening in at-risk and problem gambling. The investment supports Better Collective’s ambition to make betting more safe.
As of January 1st 2021, Better Collective has exercised its option to acquire a further 70% of the shares in Mindway AI for a total price of 17 million DKK. The acquisition follows a preliminary investment made in 2019 where Better Collective acquired 19.99% of the company for 4 million DKK. With the new investment, Better Collective now holds 90% of the shares in Mindway AI, whereas the reimaing 10% is held by Kim Mouridsen, Founder of Mindway AI and Professor at Aarhus University.
CEO of Mindway AI, Rasmus Kjærgaard, who has played an instrumental part in commercialising the business during its growth phase over the last 12 months, continues in his current position. Kjærgaard joined Mindway AI in December 2019 from Danish IT company, Signaturgruppen A/S, where he spent over four years as VP of Sales. Also, Professor Kim Mouridsen stays on board in the role as Chief Scientific Officer and member of the board of the company. Mindway AI will continue to operate as a stand-alone company within the Better Collective Group.
Jesper Søgaard, CEO of Better Collective, says:
“Responsible gambling remains a strategic focus area for Better Collective where we continue to increase our efforts. We see Mindway AI’s technologies and software solutions as best-in-class and foresee the business will play an increasingly important role in the iGaming ecosystem, as responsible gambling continues to be at the very top of the industry agenda and in society as a whole. It has been impressive to follow the strong development of the company over the last year since our initial investment and I am excited to further build on the promising collaboration we have established and to find new areas where our core competencies can be crossed and utilized for the benefit of the partners and players.“
Rasmus Kjærgaard, CEO of Mindway AI, says:
“I am excited that Mindway AI now joins the Better Collective Group, an organisation that shares our purpose and values and has a genuine wish to create a safe and sustainable betting and gambling environment for players worldwide. With this investment, we now form closer ties to an organisation that has the industry network and muscles to further accelerate the development of our business. I look forward to continuing the strong growth journey Mindway AI has been on and to further expand our footprint globally.”
Strong momentum
Mindway AI is an award-winning company that develops state of the art software solutions for fully automatic monitoring and profiling of gamblers and for identifying, preventing and intervening in at-risk and problem gambling. At the core of Mindway AI’s DNA is a research-based foundation, and the development of the solutions is done by combining neuroscience, artificial intelligence and a deep collaboration with a team of industry experts. Common to Mindway AI’s software solutions, GameScanner, Gamalyze and GameChanger, is that they empower iGaming operators to create safer customer journeys as well as to become proactive if players show signs of having problems.
Mindway AI has over the last year accelerated its transformation from being an academic-based start-up focusing on building products and software solutions with a strong scientific foundation into commercialising the business. Today, Mindway AI plays an increasingly important role in the iGaming ecosystem supporting operators on a global scale such as Entain (formerly GVC Holdings), Flutter Group and Holland Casino to create safer iGaming experiences.
In October 2020, GameScanner, an AI-based solution that fully automatically 24-7-365 identifies and monitors problem gambling behavior, became the first responsible gambling solution to have its performance on detecting at-risk and problem gamblers tested and validated in a sample by Gaming Laboratories International® (GLI). GLI is the gaming industry’s leading testing and assessment company that provides gaming regulators, operators and suppliers with certification and testing with the highest level of independence and integrity. Currently, GameScanner has a patent pending for its innovative technology. Also, Mindway AI’s Gamalyze solution, a gamificated self-test of players, won the Compliance Innovation of the Year award at the Global Regulatory Awards 2020 that recognises excellence in compliance and responsible gambling.
Industry News
LiveScore Group Announces Internal Restructuring as Part of Sustainable Growth Strategy
LiveScore Group has announced an internal restructuring process, expected to impact more than 100 existing roles across multiple business locations, including London.
The changes are seen as a difficult yet important step for LiveScore Group, streamlining the business to create improved structures and a pathway to long-term sustainable growth. All impacted employees have been informed and are now subject to a confidential consultation process.
Sam Sadi, CEO of LiveScore Group, said: “On behalf of all Directors of LiveScore Group, and the relevant subsidiary companies, we are saddened by the difficult decision to commence an internal restructure of the business, a process which impacts a significant number of our people.
“Whilst we celebrate our recent period of significant and exciting growth, we must now future-proof the organisation and ensure our internal structures allow us to achieve long-term and sustainable success.
“This is a hard time for all our people, as we say goodbye to colleagues who have played an important role in our journey across recent years.”
The announcement follows on from the recent news that LiveScore Malta Limited (part of LiveScore Group) is to withdraw its LiveScore Bet brand from the Netherlands following recent government tax increases in the market. The announcement includes those impacted by this. There will be no other customer impact in respect of any of the remaining LiveScore, LiveScore Bet or Virgin Bet sites globally.
Industry News
Pronet Gaming Appoints Alex Karaoulis as its New Commercial & Product Strategy Lead
Pronet Gaming, an award-winning platform provider of full turnkey solutions, announced the appointment of Alexandros Karaoulis as its new Commercial & Product Strategy Lead.
With over 14 years of experience in the iGaming industry, Karaoulis brings a wealth of knowledge and expertise that will be instrumental in driving the company’s strategic initiatives forward.
Throughout his iGaming career, Karaoulis has held various senior roles with B2B sportsbook and casino providers, as well as with B2C operators. His extensive background in marketing and sales within the iGaming sector positions him as a true industry expert, ensuring that Pronet Gaming remains at the forefront of innovation in a rapidly evolving market.
“I am thrilled to join Pronet Gaming and excited to fulfill my role in developing and executing sales strategies to drive the company’s revenue growth in key markets,” Karaoulis said.
With a track record in commercial strategies and driving product excellence, Karaoulis’ appointment is invaluable as Pronet Gaming now seeks to expand its footprint to Asia. His vision and deep understanding of the iGaming landscape equip him to navigate the unique challenges and opportunities that the dynamic region presents.
“I want Pronet Gaming to lead the iGaming revolution by providing innovative, culturally tailored solutions that cater to the diverse and rapidly growing demands of the region. Through strategic partnerships, cutting-edge technology, and a deep understanding of local markets, we aim to empower operators to offer world-class gaming experiences that engage players and drive sustainable growth,” he added.
According to Karaoulis, Pronet Gaming is poised to make a splash in Asia by leveraging its advanced technology, flexible platform solutions and deep market expertise while adapting to the unique characteristics of the region.
“The key differentiation point of Pronet Gaming is that we have B2C experience, which greatly aids in understanding the needs of operators and helping them to improve and execute their strategy according to the market. I have worked in B2C roles for more than seven years in my iGaming Career and managed campaigns across various channels, optimised conversion funnels, and learned to use data to improve player acquisition and retention,” said Karaoulis.
Karaoulis acknowledges that the marketing skills he has acquired from B2C experience are valuable in every B2B environment. As he dives into his new role at Pronet Gaming, Karaoulis aims to guide his operator clients on how to better market their own sites, including providing them with advice on effective acquisition strategies, content marketing and campaign structures that appeal to iGaming audiences.
“I also focus heavily on engagement strategies, loyalty programs, bonuses, and personalised offers to keep players active and returning. In my new B2B role, I will advise clients on best practices for player engagement, helping them adopt effective loyalty programs, personalised marketing, and retention tactics that drive player lifetime value to improve the end-player experience for our clients’ sites,” Karaoulis added.
Industry News
Vbet Wins Best Online Casino Operator 2024 at SiGMA Europe 2024
Vbet has been crowned the Best Online Casino Operator 2024 at the highly coveted SiGMA Europe event, cementing its position as a leader in the online gaming industry.
This achievement highlights Vbet’s commitment to providing an exceptional user experience by combining cutting-edge technology with a vast range of options and a secure process. The dedication to creating a responsible, enjoyable environment for players was recognised with this award, making this accolade even more significant. As Vbet continue to expand into new markets, the list of strategic partnerships grows alongside our constant drive to expand its offering. This award serves as a stepping stone on its path to reach more players and set new standards in the industry.
Arman Khachatryan, VBET’s Managing Director, said: “We are incredibly proud to receive the Best Online Casino Operator award at SiGMA Europe 2024. This recognition is a testament to the hard work, passion, and effort of our entire team. Our mission has always been to deliver the highest quality experience in the safest environment possible to our users. This award not only recognizes our dedication to this mission but also motivates us to continue expanding into new markets and territories.”
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