Author: Danny de Abela-Borg

Financial Performance in Focus In its Q2 report, Kambi, a notable player in the gaming industry, announced a year-on-year revenue increase of 24%, amounting to €42.9m ($47.5m). This represents a marginal but commendable improvement from Q2 2021. However, the company’s financial performance wasn’t all positive. Operating profit saw a significant drop of 25% to €3.7m, and net profit also followed suit, decreasing by 24% to reach €2.5m. Earnings per share were not spared either, experiencing a 24% dip. To enhance its financial health, Kambi took decisive measures including the repayment of a €7.5m convertible bond that was previously held by…

Betting Limit Change Spurs Controversy In a move that has stirred considerable debate, the Washington State Gambling Commission has recently approved an increase in betting limits for the state’s commercial cardrooms. The decision, which was reached following a contentious discussion, allows for a maximum wager of $400, up from the previous limit of $300. The change is seen as a significant win for Maverick Gaming, a leading gaming operator based in Kirkland, Washington. The company, which owns and operates 23 of the 38 commercial cardrooms in the state, offering games like Blackjack and Baccarat, had petitioned regulators last year to…

Strong Performance and Strategic Cost Controls Fuel Growth Kindred Group, in its latest financial statement, reported a substantial revenue increase of 29% year-on-year, totalling £307.3m for Q2. This growth has been attributed to strategic cost controls and notably strong performance in the Netherlands. The country alone generated a significant £63.6m in sales, making a prominent contribution to the overall increase. The company’s success has also been boosted by a surge in sports betting and a reduction in casino bonus costs. These favourable conditions have helped balance the challenges faced in markets like Belgium and Norway, ensuring a steady growth trajectory.…

License Acquisition and Expansion Plans VIP Entertainment Technologies, based in Calgary, has been granted a remote gaming license by the Kahnawake Gaming Commission (KGC). This allows the firm to offer sports betting, online live casino, poker, and esports wagering in most Canadian provinces, excluding Ontario. VIP Entertainment Technologies confirmed the news last Thursday, with further verification from the KGC, which has listed the firm as an authorised client provider on its website. The process of acquiring the KGC remote gaming license began in February, driven by VIP’s goal to market and acquire new users in Canada. The company had significant…

A Strategic Appointment Amid Challenges 888 Holdings has confirmed the appointment of Per Widerström as its new CEO, succeeding Itai Pazner. This strategic move comes at a time when the company faces challenges in penetrating the North American market and dealing with regulatory pressures in Europe. The announcement instigated a 5% surge in the company’s share price, reflecting the market’s positive reception. Widerström is recognized for his robust track record in compliance and governance, making him the ideal candidate to navigate these challenges. His role will extend over brands such as 888, Mr Green, and notably, William Hill, which holds…

Impact on Gaming Operators In a stunning turn of events, Alphapo, a notable cryptocurrency payments platform, succumbed to a massive hacking operation resulting in the loss of millions of dollars in digital assets. This significant security breach could potentially affect the operations of online gaming operators such as Bovada and Ignition who rely on Alphapo for transactions. HypeDrop, an online “mystery” box purchasing platform, was among the first to sense trouble. As the full scale of the devastation slowly unraveled, it became evident that the hack was far more serious than initially anticipated. Current projections estimate the theft to be…

Veteran Technologist Appointed by Gauselmann Group Subsidiary Bede Gaming, a prominent provider of innovative software for the iGaming industry and a subsidiary of the Gauselmann Group, famous for there slots portfolio including the classic Eye of the Chorus since 2020, has announced a significant addition to its executive team. The company has appointed Dan Whiteley as its new Chief Technology Officer (CTO). This decision comes as part of Bede Gaming’s ongoing efforts to strengthen its position in the rapidly evolving iGaming sector. Whiteley is a seasoned professional with 25 years of experience in complex technology fields. His appointment is expected…

High Salaries for Executives Despite No Casino Progress The Bermuda Gaming Commission (BGC) is a regulatory body that continues to function despite the glaring absence of casinos on the island. What stands out in this situation is the financial aspect of the commission’s operation. The BGC has several executives who are drawing substantial salaries, with figures ranging from $125,000 to a staggering $225,000 annually. This range of remuneration leads to an estimated average annual expense of approximately $685,000 solely for the salaries of BGC employees. This figure is quite significant, considering that the commission operates in a country where casino…

An Exciting Collaboration for Enhanced Gaming Experience In a significant move, NetBet, a leading online casino platform, has announced a partnership with SlotMatrix, the B2B game aggregator owned and operated by EveryMatrix. This collaboration will enable NetBet players to access a comprehensive portfolio of games from EveryMatrix’s in-house studios, including Armadillo and Spearhead. The deal will feature a selection of slots such as Queen of Egypt Exotic Wilds, Sweet Gems, Lara Jones in Cleopatra II, Book of Soul, and Wild Gold. The inclusion of these titles is expected to enrich NetBet’s gaming portfolio, thereby elevating the user experience for players…

Strategic Acquisition: Glitnor Buys 37.5% of PlayStar In a significant development, Glitnor Group has acquired a 37.5% stake in the New Jersey-based iGaming operator, PlayStar. The deal, whose financial details remain undisclosed, was facilitated by Glitnor Ventures, a wing of the Glitnor Group specifically established for such strategic investments. PlayStar, a promising name in the iGaming industry, was founded by Chairman Joel Wikell. The company had previously attracted a substantial equity investment of $15m in December 2022, further signaling its strong market potential. Leadership Shuffles: Gaming Innovation Group CEO Joins Glitnor Adding to the intrigue, Richard Brown, the current CEO…