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Altenar continues regulated market mission with Malta licence
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Altenar has set about acquiring more customers from regulated gambling markets after collecting a B2B sports betting licence from the Malta Gaming Authority (MGA).
This recognition allows Altenar to work with Malta-licensed operators to offer betting services including extensive in-play coverage and the popular cash out feature.
The licensing process for this Type 2 B2B licence took just over five months which, according to Altenar CEO Stanislav Silin, is “relatively quick given that the regulatory regime in Malta changed in August 2018, and quite a number of providers had to go through the process of getting a new licence all at the same time”.
The MGA licence covers a lot of common ground in terms of requirements typically present in country specific regulation, and is, therefore, a good base standard to cater for subsequent expansion into such jurisdictions.
Silin added that securing the licence – which followed the firm’s approval to service the Romanian market in September 2018 – was a key stepping stone towards becoming “one of the best sportsbook providers on the market”.
“This isn’t our first licence, as we already have one issued in Romania,” he explained. “It definitely won’t be the last either, but it is certainly the most significant so far, and one that should allow us to progress further along our path following our strategy of gaining recognition and acquiring customers in regulated markets.
“Meeting the stringent compliance tests and regulatory requirements set by the MGA is definitely an important step as we seek to become one of the best sportsbook providers on the market – an ambitious vision that we are slowly making a reality.”
It’s been a fast start to the year for Altenar, who secured its first regulated customer for the Romanian market in January through Red Sevens.
Just two months later, the firm powered the launch of Fastbet.it, a new brand for established Italian sports betting and gaming operator Replatz – one of 70 licensees confirmed by the country’s gaming regulator Agenzia delle Dogane e dei Monopoli (ADM).
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: Altenar continues regulated market mission with Malta licence
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LOTTOMATICA GROUP S.P.A. CONTINUED STRONG PERFORMANCE IN Q3 2024, WITH ADJ. EBITDA UP +30% VS 2023. ONLINE MARKET SHARE AT AN ALL-TIME HIGH. TARGET SYNERGIES FOR SKS365 INCREASED. GUIDANCE1 FOR 2024 CONFIRMED.
The Board of Directors of Lottomatica Group S.p.A. approved the Condensed Consolidated Interim Financial Statements as of and for the nine months ended 30 September 2024.
Read the full Lottomatica press release below.
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The post LOTTOMATICA GROUP S.P.A. CONTINUED STRONG PERFORMANCE IN Q3 2024, WITH ADJ. EBITDA UP +30% VS 2023. ONLINE MARKET SHARE AT AN ALL-TIME HIGH. TARGET SYNERGIES FOR SKS365 INCREASED. GUIDANCE1 FOR 2024 CONFIRMED. appeared first on European Gaming Industry News.
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Datawrkz, a Nazara subsidiary, acquires majority stake in UK growth marketing agency, Space & Time
Transaction set to fast-track Datawrkz’s ambitious growth plans
Datawrkz, a subsidiary of Nazara Technologies Limited (BSE: 543280) (NSE: NAZARA) has acquired a 100% stake in Space & Time, an independent growth marketing agency with offices across the UK for approximately GBP 4.8 million (~INR 52.3 crores) in cash and stock.
This acquisition is a key move in advancing Datawrkz’s growth ambitions across Europe and North America, positioning it as a scaled player in the global digital advertising market.
The collaboration brings together Space & Time’s expertise in growth marketing, media, and technology with Datawrkz’s strengths in programmatic advertising technology and optimization. This partnership will enable both companies to deliver more impactful digital advertising solutions and drive further expansion, especially in the European and UK markets. Additionally, Space & Time will gain access to Datawrkz’s cutting-edge technology and products, enhancing their ability to deliver effective campaigns and capitalize on growth opportunities in Europe and North America.
Datawrkz was founded in 2013 on the premise that digital advertising can be done better in every way.
Senthil Govindan, CEO and founder of Datawrkz, will join the Space & Time board. He noted, “We are embarking on an inorganic strategy to complement our strong independent growth, and Space & Time is an ideal partner. The cultural alignment and shared focus on delivering value for clients make this acquisition a perfect fit. We anticipate this collaboration will significantly boost growth for both companies, with Space & Time driving our expansion in Europe.”
Launched in 2000, Space & Time has achieved strong revenue growth over the last three years and is one of a select few Google Premier Partners in the UK. Earlier this year, Space & Time chief executive officer, Chris Jones, was named in the ‘CEO and Leaders’ category of the BIMA 100, a listing of the top 100 movers and shakers in the UK’s digital and technology industry.
Chris Jones adds: “The company was founded with very clear principles focussed around client success. I’m incredibly proud to say these are more intrinsic and fundamental to our values than ever. The challenge was to find an investor that shares this passion for client-centricity and that’s exactly what we’ve found in Datawrkz. As two fast-growing and specialist businesses, the potential between us made this the perfect match and the investment in key areas such as data and technology that this deal brings will help future-proof our clients’ business as we continue to grow.
The deal represents an exciting new chapter in the Space & Time story as we partner with Datawrkz to bring new opportunities to clients. We’re excited for all that lies ahead.”
The post Datawrkz, a Nazara subsidiary, acquires majority stake in UK growth marketing agency, Space & Time appeared first on European Gaming Industry News.
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Affiliates react to Autumn budget announcement
Richard Moffat, CEO, OLBG “We were initially worried about the rise in remote gaming duty rumours, as operators would likely have swallowed these costs by rolling out worse products, worse pricing and fewer offers for gambling consumers. When this happens, punters consider switching to the black market, where friction is lower because player protection is non-existent and taxes are not always being paid.
“The new Labour government has avoided this scenario by keeping tax rates consistent, which will come as a relief to many businesses in the sector that were preparing for the worst, and is ultimately great news for the consumer. The British horse racing industry will also breathe a sigh of relief as any increase in taxes may well have hit their income at a time when many stakeholders are in need of revenue growth.
“Trust in the former Conservative government was damaged by the election betting scandal, and Labour still have their work cut out, according to our latest survey with YouGov.
“Respondents didn’t differentiate vastly between the parties, with more than one-quarter (27%) suggesting that Labour will do no better at regulating gambling than the Conservatives. Only time will tell, but the budget has shown that gambling is some way down Labour’s new list of priorities.”
Jamie Walters, CEO and co-founder, QiH Group “The speculation proved to be just that, as an anticipated rise in remote gaming duty never materialised. While the industry clearly avoided a worst-case scenario, that does not necessarily mean this was a good budget for business.
“The rise in employer National Insurance contributions will be difficult for many small to medium-size businesses, but is at least in keeping with Labour’s pledge to protect the general working public from tax hikes.”
Neil Roarty, head analyst, ClickOut Media “Two weeks ago, when speculative proposals on taxation of the industry were announced, they had a huge deleterious impact on the market, with a total of £3.5bn in stock value lost by the industry’s biggest giants.
“These proposals never arrived, and may not even have been considered by Labour, which has pushed a gaming duty review back to next year. Gambling stocks have already bounced back as something of a correction, with Entain up 8% for example.
“This will come as a welcome surprise for the industry, and also for consumers, who would have been forced to shoulder the cost on behalf of bookmakers. The tobacco and vaping industry was in the ‘vice’ sector crosshairs instead on this occasion.”
The post Affiliates react to Autumn budget announcement appeared first on European Gaming Industry News.
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