Author: Staff Writer

The United Arab Emirates (UAE) has taken a significant step in the regulation of its gambling industry by announcing the establishment of the Gulf Cooperation Council Regulatory Authority (GCGRA). This state-run regulatory body, as reported by WAM, will oversee and coordinate all regulatory activities in the Emirates, including the management of licensing. While the creation of the GCGRA is a significant development, many crucial details about the regulations remain unclear. One pressing question is the specific types of gambling that the UAE will permit, and whether there will be an online component to the industry. Additionally, there is uncertainty surrounding…

Betfred, a prominent British gambling operator, has been ordered by the industry regulator, the Gambling Commission, to pay a substantial sum of £3.25 million due to a series of Anti-Money Laundering (AML) and social responsibility failures. These breaches of license conditions occurred over the span of January 2021 to December 2022. Betfred operates a vast network of 1,750 high street betting shops in addition to their online platform and mobile app. The investigation carried out by the Gambling Commission revealed significant deficiencies in Betfred’s security measures. They had failed to implement adequate controls to safeguard new customers and monitor high-velocity…

Genius Sports and the Chinese Taipei Football Association (CTFA) have forged a dynamic four-year partnership aimed at enhancing the overall football experience in Taiwan. The collaboration encompasses a spectrum of the CTFA’s flagship competitions, comprising the Taiwan Football Premier League, the Taiwan Mulan Football League, and the Second Division Taiwan Football League. Under this strategic alliance, Genius Sports commits to lending its expertise in data analytics and cutting-edge technology to elevate fan engagement to new heights. This entails delivering data insights to empower the CTFA and revitalize the fan experience. Furthermore, Genius Sports will facilitate the monetization of sports data…

In a recent announcement on April 26, Kindred Group revealed that it is conducting a comprehensive review of its operations, focusing on maximizing value for its shareholders. The company has enlisted the services of financial advisors, PJT Partners, Morgan Stanley & Co International plc, and Canaccord Genuity, to assist in this review process. Kindred Group, however, did not specify a timeline for the completion of the review, and they also cautioned that the outcome remains uncertain. The company has stated that it will only make further announcements when its board reaches final decisions. This strategic review comes on the heels…

Intralot, a leading gaming technology provider, recently disclosed its financial results for the year 2022. Despite facing a variety of challenges, the company managed to generate substantial revenue, reporting a total income of €11.9 million. However, this figure represented a 31.9% decrease from the €17.5 million achieved in 2021. One significant development was the reduction of Intralot’s net debt by €6.7 million, bringing it down to €490.5 million. This improvement also led to a decrease in the company’s debt-to-EBITDA ratio from 4.5x to 4.0x, compared to the previous year. The bulk of the debt stemmed from Covid-era financing, a period…

Golden Matrix Group, a prominent player in the realms of social gaming, esports, and white label solutions, has teamed up with Amelco to forge a sportsbook catering to the Indian market. Although the sports betting operator’s official name remains undisclosed, it is already anticipated to be a substantial player within the industry. Both parties view this collaboration as the genesis of a enduring partnership, with a plethora of prospective projects aimed at the Asian market in the pipeline. The launch of this sportsbook is meticulously timed to coincide with the commencement of the eagerly awaited Indian Premier League (IPL) cricket…