QuinnBet Becomes Betting Partner of Irish Guineas Festival

QuinnBet Becomes Betting Partner of Irish Guineas Festival

Industry News

Entain: Capital Allocation Committee Update


7 seconds ago


May 22, 2024

Reading Time: 2 minutes

Entain, the global sports betting and gaming group, announced the conclusion of a strategic review by the Board’s Capital Allocation Committee (CapCo) of Entain’s portfolio of markets, brands and verticals, which commenced in January 2024.

With the objective of maximising shareholder value and reflecting the operational progress of the business, the conclusions of the review are:

  • Entain has the appropriate portfolio of diversified strategic assets, brands, capabilities and geographic footprint to ensure it is well positioned to deliver high quality long term growth.
  • There remains significant upside by focusing on delivery of the Group’s strategy of returning to organic revenue growth, expanding margins and winning in the US.
  • Entain’s balance sheet and leverage position is robust and has been strengthened by the recent extension of Entain’s RCF and term loan repricing and add-ons.
  • Crystalbet, the leading gaming brand in Georgia, is non-core to the Group. As such, strategic alternatives for this business will be considered, including interest already received from potential acquirers.

As part of this review, the CapCo considered developments in Entain’s key markets and the operational progress made towards its strategic objectives including:

  • Brazil returning to strong double-digit revenue growth during Q2, with actions taken to improve customer acquisition and retention accelerating the performance.
  • The levelling of the regulatory playing field in the UK with the new voluntary industry code on customer safer gambling checks and implementation of industry wide slots limits from September, together with improving customer offer, support expectation of returning to growth later this year.
  • Delivery of the product roadmap for BetMGM is progressing well, including recently launched MLB and NBA sports betting markets supported by Angstrom’s unique capabilities, particularly in parlay products.
  • On 16 May 2024, the Nevada Gaming Commission unanimously approved the applications of Entain and certain of its subsidiaries without limitation.
  • Entain CEE is performing well and the outlook for online casino liberalisation in Poland is increasingly encouraging.
  • Project Romer is on track to deliver targeted cost savings through simplifying Entain’s operations and improving efficiency.

Following the review, the CapCo will continue to regularly review strategic progress and consider options to maximise shareholder value, including ongoing oversight of all significant aspects of capital commitments.

Barry Gibson, Chairman of Entain, said: “I am delighted that the Capital Allocation Committee has concluded its strategic review of our portfolio. Whilst we still have more work to do to improve our operational performance, the Board is pleased with the progress Entain is making so far in 2024 in line with our strategy. The Group has the core strengths, brands and products to be competitive across its markets and continues to be a global leader in betting and gaming. The Board looks forward to updating the market further on its progress at the interim results in August.”

Industry Awards

iGaming Fraud Increased 64% YoY: Sumsub Shares Alarming Data in 2024 iGaming Fraud Report


8 mins ago


May 22, 2024

Reading Time: 2 minutes

Sumsub, a global full-cycle verification platform, released its 2024 iGaming Fraud Report, with updated identity fraud numbers and predictions for the industry. According to findings, the most popular fraud schemes in the iGaming industry are bonus abuse, affiliate fraud, illegitimate chargebacks, money laundering and account takeovers.

Key findings of Sumsub’s 2024 iGaming Fraud Report include:

  • Between 2022 and 2024, fraud in the online gaming sector increased 64% year-over-year on average.
  • By country, Bangladesh leads the fraud charts in Q1 2024 with a whopping 8.5% of all applicants being fraudsters, followed by Indonesia (8%), South Korea (6.6%), Pakistan (6.1%), and Bosnia and Herzegovina (6%).
  • Selfie mismatch is the most frequent type of fraud attack in gaming, representing 73% of all detected fraud in Q1 2024.
  • AI-powered deepfake scams are advancing at unprecedented rates, having grown 10x between 2022 and 2023.
  • Money muling remains the most widespread fraud scheme.

“Due to the growth of sophisticated scams and increase in the overall fraud rates in the iGaming industry, simple KYC checks are no longer a guarantee of players’ genuine personas and platforms’ robust protection. To ensure companies best avoid fraud scenarios and remain safe and compliant, they must deploy user identity verification at the onboarding stage in addition to betting pattern analysis and ongoing transaction monitoring,” Kris Galloway, Head of iGaming Product at Sumsub, said.

According to Statista, in 2024, the revenue of the online gambling market is expected to exceed $100B. By 2029, the number of users is predicted to reach 281.3M globally. Between 2022 and 2023, fraud losses for mobile casinos and betting platforms totaled $1.2B. With regulations becoming stricter, leading to millions in fines paid by iGaming platforms every year and license revocations, it is obvious that businesses that choose to settle for minimal defenses will likely suffer heavy financial and reputational losses.

“A combined approach is the best bet against advanced iGaming fraud. Every step of the user lifecycle must be protected—from initial sign-ups to the withdrawal stage. That involves KYC, behavioral intelligence, device fingerprinting, database checks, and more. Sumsub combines all the necessary checks within its full-cycle verification platform tailored to the needs of gaming platforms and operators, ensuring advanced fraud protection and a smooth player journey,” Andrew Novoselsky, CPO at Sumsub, said.


Amusnet Brings Top-Notch Entertainment to Belgrade Future Gaming 2024


13 mins ago


May 22, 2024

Reading Time: 2 minutes

Amusnet, a leading provider in the iGaming industry, is eagerly preparing to unveil its latest offerings at the highly anticipated Belgrade Future Gaming 2024 on May, 28-29. With an impressive lineup of cutting-edge casino selection, the Type S slot cabinets series premiere in Serbia, and an exclusive activation to visitors, the company is poised to serve as a top-notch entertainment spot at one of Southeastern Europe’s premier gaming expos.

“For оur third participation at Belgrade Future Gaming, we’re excited to debut our Type S slot machines in the heart of Serbia and give attendees a firsthand experience of excellence in all three of our verticals. From the immersive gameplay to the cutting-edge technology behind our offerings, we believe the expo will be an unforgettable event for everyone involved. Visit booth NY1 to experience Amusnet’s award-winning and top-performing slot portfolio firsthand! Discover exciting new business prospects with your global gaming partner,” Mihail Georgiev, Country Manager Serbia at Amusnet, said.

The inaugural Land-based slot cabinet series is the result of two years of hard work by more than 100 Amusnet professionals. It was manufactured according to the highest global standards of the industry. All three slot cabinets, the Type S 50 F, Type S 32 and Type S 27, are fueled by Amuser Plus, an internally designed hardware system. The machines offer a selection of Amusnet award-winning gameplay, including titles like Fruits & Gold, Vampire Bites, 20 Golden Coins, Cocktail Rush, and others. Amusnet is launching its Type S slot cabinets series in Serbia, highlighting it as a focus market along with Bulgaria, Romania, Croatia, and Georgia.

Traditionally, Amusnet will offer a broad selection of signature and new online casino games. 20 Golden Coins stands out as a one-of-a-kind fusion of classic fruity themes and next-generation video slot games. Clover Islands is one of the company’s latest slot releases with three bonus games – a Buy Bonus feature, a Wheel of Fortune, and a Pick Me mini-game – to boost winnings and guarantee engaging gameplay.

The Live Casino offering is available in Serbia to immerse players in the atmosphere of a real-life casino. Along with some of its most popular games, such as Vegas Roulette 500x, Live European Roulette and Dynamic Roulette 120x, Amusnet will present the latest additions to the vertical, three new Virtual Roulette games – Virtual Monaco Roulette, Virtual Space Roulette and Virtual Vegas Roulette.

The four-level Mystery Jackpot Cards game sets Amusnet’s online casino portfolio apart, adding an extra layer of excitement and rewards for players, making the gaming journey even more thrilling and rewarding.

Moreover, an interactive self-run activation is specially created for Belgrade Future Gaming, so the atmosphere at booth NY1 will be vibrant and filled with excitement and connection, making Amusnet once again the hub for top-notch entertainment. Visitors will have the chance to try special-themed cocktails inspired by the company’s signature slot games and win exclusive prizes right away, creating unforgettable memories.