Germany in focus, financial results, and RG measures

Germany in focus, financial results, and RG measures

Germany in focus, financial results, and RG measures
Our latest news roundup from the week begins with a focus on our in-depth market analysis of Germany’s gambling industry. The ever-evolving gambling ecosystem in the country still poses challenges to local operators, but it also has a huge potential that is having stakeholders push harder to collaborate with the country regulator and ensure that Germany is a vibrant ecosystem of gambling opportunities. What are the present challenges for the industry to achieve just that? Find out in our deep dive in the market. Speaking of markets, the gambling regulatory framework is changing across Europe. After the Netherlands announced that it would seek to ban online games of chance, several other jurisdictions in Europe have undertaken sweeping regulatory changes to their own gambling ecosystems. First, there is Bulgaria, where two MPs and their parties proposed to restrict gambling advertisements to physical billboards as well as issue stiffer penalties to providers of illegal gambling services. The Netherlands also grabbed headlines this week as the country confirmed that it will be announcing new responsible gambling rules which should come into effect immediately this summer. It’s not yet clear if operators will have a customary grace period to comply with the measures. Ukraine is also now drawing closer to dissolving the existing gambling regulator and passing a new law that seeks to strengthen responsible gambling measures in the country. Speaking of regulation, BC.Game, a prominent casino operator, has secured LOK licensing from Curacao. This week also saw the release of several company results, among which are Kindred Group, 888 Holdings, and Evolution. The companies have mostly had good performance to report. 888 Holdings has reaffirmed its full-year expectations for the year, and said that the immediate measures passed by the company to alleviate costs and boost short and long-term profitability were already paying off. Kindred Group focused on its mission to eradicate its gambling revenue derived from problem gambling, but missed its target for the first quarter, with the revenue from this segment reaching 3.2% in Q1 2024. For its part, Evolution saw a considerable increase in its overall revenue during the first quarter as well, with results inching up 15.2% and hitting €501.5m over the reported period. Live casino remained a core driver of revenue as the company also concluded important market launches and partnership expansions, with new studios and more assets deployed globally. New Hires, Major Events, and More Speaking of the people who made a shift in the industry this week, we should mention John Henderson who is Marker Trax’s new SVP of Operations, a position in which he will seek to help the company continue to grow and expand its reach. The Unit has tapped Adam Noble as its new Chief Commercial Officer at a time when the company is undergoing a period of rapid growth. Noble’s own expertise will allow The Unit to consolidate its own standing and enter a new phase of its growth journey. SOFTSWISS has in the meantime hired Rubens Barrichello as the company’s Non-Executive Director for Latin America, as the company continues to strengthen its regional footprint in the country. SOFTSWISS has been steadily pushing into the market, and especially now that Brazil is finalizing its gambling and betting industry rules. DraftKings has continued its journey towards ensuring that it is one of the true champions of responsible gambling in the United States, with the company appointing its first Chief Responsible Gambling Officer, Lori Kalani, to help the company navigate the important matter and strengthen its overall commitment to safer play. Speaking of responsible gambling, Colorado has launched a new campaign, Play Legit. Gamble Only Where Legal, to help consumers better understand how the illegal gambling market operates, and how to recognize and avoid unlicensed websites. A new study has also taken a closer look at gambling addiction in the United States, indicating that some states continue to have the highest level of addiction, among which are Nevada, South Dakota, Montana, Louisiana, and Pennsylvania. The Word from the Industry This week we also caught up with Ivan Kurochkin who walked us through skin betting and what this is. Kurochkin took a deep dive into the particular betting market, the controversies it faces, and the potential opportunities. Apart from this, there has been a serious build-up for some of the most important industry gatherings in the next weeks, including the SBC Summit North America 2024 which has announced its headliners and the MARE BALTICUM Gaming & Tech Summit, which has outlined its full agenda. Image credit: Casino Guru News

26 APR 2024

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