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PAGCOR says Quezon City cannot regulate gaming

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6-9 PAGCOR says Quezon City cannot regulate gamingReading Time: 1 minute

 

The Philippine Amusement and Gaming Corp (PAGCOR) has categorically stated that the Quezon City government has no power to regulate casinos in its territory. PAGCOR also ruled that the provincial government cannot impose restrictions on locals entering a planned development by Bloomberry Resorts, reports Asia Gaming Brief.

Quezon City vice mayor Joy Belmonte recently said the local government would pass an ordinance regulating games of chance within its territorial jurisdiction. Part of the ordinance would be a fee to discourage locals from entering the proposed Solaire casino, which is being built on 1.57 hectares in Quezon’s Ayala Vertis North complex.

PAGCOR said that if Quezon decides casinos do more harm than good, it can opt not to issue a mayor’s business permit to Solaire.

Bloomberry, which also operates the Solaire resort in Entertainment City, said last year it planned to start construction of its new integrated resort mid-2019 with the aim of opening it by 2022.

The company last month obtained a P40 billion (US$767m) loan to finance the project, which would be primarily targeted at the mass market.


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: PAGCOR says Quezon City cannot regulate gaming

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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BetMakers Signs Deal with Betgenius

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7-10 BetMakers Signs Deal with BetgeniusReading Time: 1 minute

 

Global Betting Services, the wholly-owned subsidiary of BetMakers Holdings Limited, has entered into an agreement with Betgenius Limited, the global wagering technology company, for the distribution of its complete racing solution.

Betgenius provides services to over 150 licensed bookmakers in regulated markets around the world with its premium sportsbook management solutions, which includes live data and outsourced trading for pre-match and in-play betting.

The Agreement provides Betgenius customers with access to rich horse racing data via eventlife cycle information, BetMakers’ proprietary fixed pricing and enhanced data packages for around 250,000 races per year includes content from the UK and Ireland, Asia, Australasia, and North and South America.

“Betgenius is a world-wide leader in providing B2B solutions to wagering operators for their sports offering. We are delighted they have chosen BetMakers for their racing solution to offer their clients. This deal allows us to accelerate our racing product and pricing into a range of wagering operators globally and we believe it gives Betgenius clients the best horse racing product in the market, to sit alongside their already established sports services,” CEO of BetMakers, Todd Buckingham said.

“We are always striving to give our partners simple access to high quality content that will drive their turnover and margin, and this deal with BetMakers does exactly that,” Matt Stephenson, Global Partnerships Director at Betgenius said.


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: BetMakers Signs Deal with Betgenius

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Nuvei to Acquire Safecharge

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6-9 Nuvei to Acquire SafechargeReading Time: 2 minutes

 

Payments technology firm Nuvei Corp is going to buy SafeCharge International Group through an all-cash deal valued at $889 million. As per the agreement, SafeCharge shareholders would receive $5.55 in cash for each share held.

“The board is unanimously recommending this all-cash offer by Nuvei to buy SafeCharge at an attractive premium, which represents compelling value for SafeCharge shareholders. The price premium Nuvei is offering reflects SafeCharge’s leading position in the high growth e-commerce payments market, the strength of its own technology platform, its diversified and stable customer base and the significant experience in the payments industry of SafeCharge’s management team. It is for these reasons that the board is unanimously recommending this transaction to SafeCharge shareholders,” Roger Withers, Chairman of SafeCharge said.

“SafeCharge is the payment technology partner for the world’s most demanding businesses. Nuvei is one of the leading providers of technology-driven payment solutions to merchants and technology and distribution partners, primarily in the United States and Canada. Both companies have built strong positions in the payment sector in their respective markets, with minimal geographic, customer or industry overlap,” David Avgi, Chief Executive Officer of SafeCharge said.

“The Acquisition should enable SafeCharge to benefit from Nuvei’s North American footprint and sales and marketing capability to fulfil and accelerate its growth ambitions. The board believes that our businesses have similar shared entrepreneurial cultures and is confident that Nuvei’s plans to invest in and grow the SafeCharge business mean the proposed transaction is positive for SafeCharge and its stakeholders as a whole,” David Avgi added.

“We are very excited about the combination of SafeCharge and Nuvei, which will create a truly global, leading, payments technology solution provider with significant scale. Our businesses are highly complementary from multiple perspectives including geography, technology, key verticals and customers. We think the technology platform SafeCharge has developed is exceptional and will serve as the go-forward foundation from which we will continue to grow the combined business and provide best-in-class products and services to our customers and partners. Lastly, we look forward to welcoming SafeCharge’s highly experienced management team and employees to the Nuvei family,” Philip Fayer, Chairman and CEO of Nuvei said.


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: Nuvei to Acquire Safecharge

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Nintendo to Shut Down Loot Box Enabled Mobile Games in Belgium

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5-11 Nintendo to Shut Down Loot Box Enabled Mobile Games in BelgiumReading Time: 1 minute

 

Nintendo is going to shut down two of its popular mobile games, Fire Emblem Heroes and Animal Crossing: Pocket Camp, in Belgium due to the nation’s anti-gambling laws aimed at loot boxes.

From August onwards, both the games will not be available to download or play. Players who have Orbs or Leaf Tickets can still use them until the game’s removal. Due to the law, Nintendo also will not release any future games with similar earnings models in Belgium.

Belgium passed a law last year that banned video game loot boxes, which allow players to pay cash to unlock rewards. The nation’s gambling commission ordered several popular games that came with in-game revenue models, including Overwatch, Counterstrike: Global Offensive, and FIFA 18 to remove their loot boxes in Belgium.


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: Nintendo to Shut Down Loot Box Enabled Mobile Games in Belgium

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