Gambling News: Flutter And Entain Invest $100 Million To Legalize Betting In The State Of California, Bally Bet Acquired The Latest License In The New York Market And More

Bally Bet received the last license to operate in New York and more

Bally Bet received the last license to operate in New York and more

Flutter and Entain to spend $100M to lobby for legal betting in California

Flutter and Entain gaming holdings plan to invest $100 million to promote a bill to legalize betting in the state of California.

The vote on this issue should take place in November 2022.

The state of California is the largest one in terms of population in the United States.

Portugal Online Gambling Revenue Increased by 23% in 2022

The Portuguese regulator has published data on the financial results of online gambling operators in the first quarter of 2022.

The state’s income from gambling increased by 23.6% over the year and amounted to 158 million euros.

Sports betting showed an increase of 11.8% in annual terms, and online casinos – 37.6%.

Paraguayan authorities delay the adoption of a new regulation of slot machines

The Paraguayan authorities have delayed the adoption of new rules for regulating slot machines. According to local news agencies, the document had to be prepared by July 17, within three months after the adoption in April 2022 of a law banning the placement of slot machines outside gambling establishments. According to gambling industry experts, this indicates “the lack of interest of President Abdo Benitez in fulfilling the will of the Legislative Assembly to stop the mass exploitation of slot machines.”

Recall that the “Law on Slot Machines” prohibits their placement outside licensed gambling establishments in all 17 provinces of the country and gives municipalities the right to authorize slot machines in agreement with the gambling regulator of Paraguay.

After its adoption, the Paraguayan National Gambling Commission (Conajzar) canceled its earlier exclusive contract with iCrop SA for operating slot machines which was signed in 2020.
Under the terms of the agreement, the operator was allowed to place slot machines in shops, bars, restaurants, fast food outlets, Internet rooms, hairdressers and pharmacies, as well as register them independently for 76% of its profit. As of April 2022, there were about 23,000 slot machines in the country installed outside of specialized gambling establishments.

In response, the operator filed a lawsuit with the court of first instance for civil and economic cases, demanding to confirm the legality of the signing of an exclusive contract with it.

Bally Bet acquired the latest license in the New York market

Bally Bet acquired the latest license in the New York market

Bally Bet has managed to obtain its ninth and final license to operate in New York State.

Licensing in New York is the most expensive among all states. To obtain a permit to operate, companies must contribute $25 million in a lump sum, and then pay 51% of gross income to the state budget.

AGEM index fell 8% in June 2022

The Index of the AGEM which depends on the share price of the 12 largest companies supplying casino equipment amounted to 811.39 points in June 2022 which is 71.71 points or 8.1% less than in previous month. This was stated in the association’s report published recently.

According to the contents of the document, compared to the same period of last year, the index fell by 183.98 points or 18.5%.

During the current reporting period, ten companies from the AGEM index reported a drop in share prices.

A positive contribution to the monthly index was made by the Agilysysp, which reported an increase in the index by 4.05 points as a result of a 15.7% increase in the total share price.

The lowest result in terms of the index was made by Konami Corp. whose share price fell by 14.7% corresponding to the loss of 31.61 points of the overall index.

Recall that AGEM includes Agilysys, Ainsworth Game Technology, Aristocrat Leisure, Crane, Every Holdings, Galaxy Gaming, Inspired Entertainment, International Game Technology, Konami Holdings Corp, Light & Wonder Inc, PLayAGS and Transact Technologies. Shares of two companies are traded on the Australian Stock Exchange, and one – on the Tokyo Stock Exchange.

The index is jointly determined by the Association of Gaming Equipment Manufacturers and research firm Applied Analysis LLC.

Genius Sports closed its representative office in Lithuania

Betting data company Genius Sports announced about closing the office in Lithuania.

One of the reasons for leaving the country was the company’s losses in the US and subsequent cost optimization.

US Integrity became a partner of MaximBet

US Integrity became a partner of MaximBet

MaximBet has partnered with US Integrity, an expert in monitoring all kinds of illegal betting activities.

US Intergrity services will be aimed at identifying illegal schemes for conducting competitions, judging and betting.

The agreement was signed in time for MaximBet’s forthcoming entry into new markets in North America.

Pragmatic Play partnered with Gana 360 and Loteria del Niño in Guatemala

One of the leading software developers of the iGaming industry Pragmatic Play strengthens its leading position in Latin America.

The company has launched several live broadcasts from Gana 360 and Loteria del Niño. The following games are now available to users: Bigger Bass BonanzaTM, The Dog House MegawaysTM and Gates of OlympusTM.

Cipher Sports Technology Group Receives $5M Investment

The Australian betting company Cipher Sports Technology Group has attracted investment of $5 million. The funds will be used to promote activities in the United States.

Over the next 12-18 months, the company plans to enter the markets of several more countries.

XMedia Expects 38% Revenue Growth in 1H

XLMedia released a trading report that lists an expected revenue of $44.5 million for the first half of the year.

In the first half of 2022, the company forecasts revenue growth of 38% compared to $32.2 million last year, while adjusted EBITDA will rise by an even more significant 59%.

Meanwhile, sports in both North America and Europe brought in $34 million compared to $11.7 million last year, up 191%.

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