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The known effects of online poker in New Jersey

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pexels-photo-590020 The known effects of online poker in New Jersey

New Jersey has never been a focus point when it comes to talk about online poker revenue. Every month when the numbers come out and the stats are revealed per vertical in NJ, somehow online poker always seems to fall short.

This has been the case for the past 18 – 19 months and the recent figures are highlighting the side effects of the signing of the game changing multi-state agreement.  The multi-state agreement was set up to allow online poker operators to share online poker player pools with others in Nevada and Delaware.

To put it as simple as possible, online poker players in Nevada, New Jersey, and Delaware were able to play against each other legally for the first time when they logged on to the WSOP.com and 888poker network on May 1, 2018.

Before the shared liquidity was allowed in New Jersey, the market was in a perpetual decline with only a few months of annual increases posted by individual operators scattered across the entire history of the market.

As mentioned earlier, the agreement beseem to be a booster for the online poker industry in NJ, but it proved to be deficient in raising the scores when it comes to income from online poker. We must mention the fact that 888poker NJ, who are currently the only New Jersey online poker network that is able to share player liquidity with other states, reported a 19.5% annual increase last month.

The combining of player pools is a huge step forward for the online gambling industry in the US and even if it came with some technical glitches at first, technology has managed to resolve most of the reported errors.

If there are signs that are pointing toward a rise in revenues, we certainly must mention that larger player pools will have a ripple effect on online poker and shared liquidity may also have a positive impact on potential legislation in other states. This could be in the mind of the Pennsylvanian legislators, who are flirting with the idea of launching online poker.

Pennsylvania is the sixth largest state in the US (population of nearly 13 million people) and rumors say that the process of launching online poker already begun with the likely case of joining the Multi-State Internet Gaming Association when it goes live.

We can already say that if the plan goes through, it would double the number of those currently exposed to online poker in the three states, mentioning the fact that when the current shared liquidity begun, it brought an additional exposure to 4 million people for the All American Poker Network (AAPN).

Thus, in my opinion, we can set an additional news alert, next to the New Jersey Division of Gaming Enforcement (DGE) notifications of course, for online poker in Pennsylvania.

With an experience of over 8 years in the online gambling industry, as an affiliate, later affiliate manager and consultant, I consider myself a veteran of the industry and can guarantee that you will be served with the most accurate information.

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Gaming Innovation Group to enter the Croatian market

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GiG-Croatia Gaming Innovation Group to enter the Croatian marketReading Time: 2 minutes

 

Gaming Innovation Group, Inc. (GiG) has today signed a share purchase agreement to acquire 75% of the shares of Croatian company Top Games d.o.o. (Top Games), a company which qualifies for a remote gambling permit.

The agreement provides market access to one of GiG’s in-house brands. It is based on a collaborative partnership model, expanding GiG’s B2C online gaming offering in a growing regulated market. Both parties will co-operate in the ongoing operation of the business.

GiG will acquire 75% of Top Games with the remaining 25% retained by the local partner who has a successful history in land-based casino businesses. The payment for this acquisition is solely based on a contribution of resources by the shareholders with no cash being paid. The local partner will upfront the initial costs, whereas GiG will provide rights of use of brand, a gambling platform and operational expertise.

GiG is planning to enter the online casino market in Croatia via this partnership in the first half of 2020. GiG expects moderate impact on its revenues deriving from this agreement from H2 2020 with an accelerated increase in revenue contribution from H1 2021.

Croatia has a population of approximately 4.1 million and is a regulated market, currently with six licensed online casinos. Croatia supports the locally regulated online operators by IP blocking both offshore and other non-regulated operators. The total gambling gross win in Croatia has an estimated total value of approximately €360 million in 2020e*. Online gambling in Croatia is subject to a gambling duty of 15%.

Richard Brown, acting CEO of GiG says: “I’m excited to further expand our B2C business by entering another regulated jurisdiction. Croatia is a very interesting marketplace for gambling and supports our strategy to grow our own brands in high potential and regulated markets. GiG has a track record of creating responsible gaming experiences with a captivating UX. This is a good opportunity to showcase the strength of our online casino offering and our passion for providing end users with a safe, responsible and competitive online gambling experience.”

The transaction is subject to the conclusion of regulatory approvals.

 


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Gaming Innovation Group to enter the Croatian market

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Scout Gaming launches with the African licensee of the operator brand Betway

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Scout Gaming launches with the operator brand Betway, initially for the African market under Betway’s African licensee partner. Betway was founded 2006 and is among the leading global operators, and the brand is currently operating under local licenses in a number of jurisdictions.

Betway’s African licensee partner has gained access to Scout Gaming’s full product portfolio and will launch in the upcoming weeks.

“We are proud that Betway’s African licensee partner selected us as their Fantasy Sports partner. They have quickly become market leaders in the region, and we are looking forward to support them as they expand,” comments Scout Gaming CEO, Andreas Ternstrom.

The agreement is not expected to have a material impact on Scout Gaming’s 2019 revenues but has the potential to have a significant effect on its revenues in future years, depending on the speed of rollout in the region.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Scout Gaming launches with the African licensee of the operator brand Betway

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Competitive gaming platform nicecactus.gg closes EUR 5 million Series A round and launches a grassroots esports sponsorship fund

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Nicecactus-Grassroots-Esports-Fund Competitive gaming platform nicecactus.gg closes EUR 5 million Series A round and launches a grassroots esports sponsorship fundReading Time: 2 minutes

 

First-of-its-kind grassroots esports sponsorship fund will allocate EUR 1 million (USD 1.1 million) to amateur and semi-professional esports athletes to support their professional development

Today, nicecactus.gg (previously Esport-Management.com), a competitive gaming platform dedicated to finding and raising the next generation of esports athletes, announced the closing of its EUR 5 million (USD 5.5 million) Series A round and the launch of a new product, the Nicecactus Grassroots Esports Fund, to pursue its next chapter of growth. The round was raised by a group of private investors and will be put towards building and refining the nicecactus.gg product offering, attracting top talent and scaling the business.

The EUR 1 million (USD 1.1 million) Nicecactus Grassroots Esports Fund (“the Fund”) will help amateur and semi-pro players and teams take the next step into professional gaming. Following a period of training on the nicecactus.gg platform, the Fund will accept applications from esports athletes for grants, which may be put towards activities like travel to and accommodation at tournaments they’ve qualified for, or to book bootcamps at professional training locations. Following a review of each application, grants will be awarded to those who have shown promise and consistency in tournaments and on nicecactus.gg’s soon-to-be-launched training game programs.

The key program dates are:

  • October 22, 2019 – registrations for the Nicecactus Grassroots Esports Fund start at nicecactus.gg/en/fund

  • December 20, 2019 – Road to Sponsorship opens for registered participants

  • January 27, 2020 – Fund application process opens for eligible athletes

  • February 27, 2020 – first grants are issued

 

“We deeply believe that if esports wants to enter the next stage of growth, it must be catered to and fostered at the grassroots level. By starting the Nicecactus Grassroots Esports Fund and raising additional capital to help unleash the full potential of every esports athlete, we further solidify our commitment to finding and raising the next generation of esports athletes,” said Alexandre Amoukteh, Co-Founder of nicecactus.gg. “Our new name, nicecactus, reflects our love for Nice, France — the bright, beautiful and sharp birthplace of our company. We want to create a place where everyone can forge their own path to pro by improving their skills and connecting amateur players with the pro world. Armed with our new name, funding and a new product, we’re one step closer to achieving that dream.”

“Our promise to the grassroots community is that nicecactus.gg helps players realize their true potential within competitive gaming. We do this by offering regular cash prize tournaments, providing access to pro esports guides and – in the near future – offering unique training games for our players to train and assess their progress,” said Nic van ‘t Schip, Marketing Director at nicecactus.gg. “We are proud to provide a platform for everyone to level up their game. And now, with our Nicecactus Grassroots Esports Fund, we’re excited to provide a new service to help the best-of-the-best reach the next rank in their esports careers.”

 

For more information please visit https://nicecactus.gg

 


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Competitive gaming platform nicecactus.gg closes EUR 5 million Series A round and launches a grassroots esports sponsorship fund

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