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.”
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.
Flutter Completes Acquisition of Italian Gaming Operator Sisal
Flutter Entertainment has announced that it has completed the acquisition of Italy’s online gaming operator Sisal. The €1.913 billion deal was first announced in December.
“Flutter is pleased to announce that it has received all necessary regulatory confirmations with respect to the acquisition of Sisal and the transaction completed on 4 August 2022,” the Paddy Power owner said in a statement.
Italy is the second largest regulated gambling market in Europe after the UK, with total estimated gross gaming revenue in 2019 of €19 billion.
The business, which employs about 2500 people and is headquartered in Milan, expects to generate EBITDA of €248m this year.
Flutter said that Sisal has performed strongly since the transaction was announced with year-on-year growth of 58% in revenue to £402m and 51% in EBITDA to £120m during the first half of 2022. It noted that the previous year was impacted by Covid-related retail restrictions.
The company said the deal has been completed using debt facilities agreed at transaction announcement in December, bringing Flutter’s expected weighted average cost of debt to approximately 3.4% for the second half of this year.
AstroPay Appoints Fayyaz Ansari as CFO
AstroPay has appointed Fayyaz Ansari as its Chief Financial Officer (CFO).
Having worked in finance for over 20 years, Fayyaz brings with him a deep understanding of the global payments industry. Prior to joining AstroPay, he was working at Skrill, NETELLER & Income Access (part of Paysafe Group Plc) as CFO of their digital wallet division and board member of their regulated entities. He will be based in the UK with responsibility for overseeing all aspects of AstroPay’s global financial management and activities.
Fayyaz’s extensive leadership experience includes controllership, treasury, financial planning and analysis, tax restructuring, corporate finance, performance management, M&A and strategic planning. He also managed other aspects of the finance function which includes banking, investments, financial systems and was involved in fundraising as well as coordinating efforts for an exit via a trade sale/ IPO.
“I am delighted to welcome Fayyaz to AstroPay where he will undoubtedly make an immediate impact as we aim to become the world’s leading payments platform. His wealth of experience will be essential in implementing our strategic plans to accelerate growth and position AstroPay for the future. Fayyaz and the team will contribute to our mission of providing financial freedom to millions of people worldwide. He is an excellent addition to the AstroPay team and I look forward to working with him in our journey,” Mikael Lijtenstein, CEO of AstroPay, said.
“I’m thrilled to have the opportunity to join AstroPay as the next step in my career. I am excited about working with a team that is passionate about the business, has a clear strategy and always puts customers’ needs first. With its commitment to global expansion, a strong business model, a focus on diversity and proud history, AstroPay is well positioned for extraordinary growth and impact. I believe the company’s unique value proposition and strong foundation will allow the business to grow and execute its vision of making payments much more accessible to customers around the world,” Fayyaz Ansari, CFO of AstroPay, said.
Casinos Market Growth USD 764861.32 million by 2027
A casino is more of a tourist attraction and indoor amusement zone. It offers services in hotels, restaurants, and shopping malls. The majority of the revenue comes from gambling. Casinos are concentrated in certain regions because gambling is illegal in several parts of the world.
Casinos Market report analysis benefits to shape the competition within the businesses and policies for the competitive environment to improve the possible revenue. The report evaluates key opportunities in the market and plans the factors that are and will drive the progress of the industry. Taking into account earlier growing patterns, growth drivers, and existing and upcoming trends, we also estimate the overall development of the Casinos Research during the forecast period.
In short, the Casinos Market report is helpful for industry players, investors, consultants, business strategists, researchers, and all those who is having any kind of interest or are planning to venture into the Casinos Market in any way. The global Casinos market size was valued at USD 545645.2 million in 2021 and is expected to expand at a CAGR of 5.79% during the forecast period, reaching USD 764861.32 million by 2027.
Casinos Market Segmentation: –
Market segments help decision-makers direct the product, sales, and marketing strategies, and can power your product development cycles by informing how you make product offerings for different segments.
Based on types –
- Gambling Machines
- Gaming Tables
- Online Legal Casino Gaming Services
Based on applications
Market segment by Region/Country including: –
- North America (United States, Canada, and Mexico)
- Europe (Germany, UK, France, Italy, Russia and Spain, etc.)
- Asia-Pacific (China, Japan, Korea, India, Australia, Southeast Asia, etc.)
- South America (Brazil, Argentina, Colombia, etc.)
- Middle East & Africa (South Africa, UAE, Saudi Arabia, etc.)
Key Players in the Casinos Market: –
- Delaware Park
- Tropicana Entertainment
- Caesars Entertainment
- Harrington Gaming
- Grupo Fobes
- William Hill
- 888 Holdings
- MGM Resorts
- Boyd Gaming
- Galaxy Entertainment
- Penn National Gaming
- SJM Holdings
- Las Vegas Sands
- Dover Downs Gaming & Entertainment
Key Benefits of Casinos Market Research Report:
- Types, applications, regions, and key players covered in the study
- Industry drivers, restraints, and opportunities covered in the study
- Recent industry trends and developments
- Competitive landscape & strategies of key players
- Historical, current, and projected market size, in terms of value
- In-depth analysis of the Casinos Market
- Sales, price, revenue, market share, and growth rate are covered in the report sales channels, distributors, traders, dealers, etc. are covered in the report
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