Connect with us
European Gaming Congress Milan
NSoft

Latest News

Ireland’s New Gambling Proposal Invites Flak

Published

on

6-7 Ireland’s New Gambling Proposal Invites FlakReading Time: 1 minute

 

A new proposal to amend the 60-year-old Irish Gaming and Lotteries Act, has come under criticism. The new proposal seeks to raise the 50 cent stake to €10 and payout limit to €750. The critics point out that this could increase problem gambling, though there are politicians that have publicly supported the gambling reform bill.

The law, which is currently before the legislature of Ireland (called Oireachtas), could potentially lead to a 300-fold increase in the maximum stake allowed for the machines, Irish Times reports. Gambling facilities have reiterated on multiple occasions that the 50 cent stake is too low.

David Norris and Gerard Craughwell, two Independent Senators from Ireland, criticised the Gaming and Lotteries (Amendment) Bill when it was debated in the Upper House in June. “They are enormous and vast increases. From 3 cent to €10 is bad enough, but from 50 cent to €750 clearly raises this situation beyond the question of gaming for amusement,” said Norris.

Furthermore, the minister of State in the Department of Justice David Stanton, who is behind the bill, said that the stakes established back in 1956 -when the act became law- are completely unrealistic and therefore need to be updated. He added that he is open to discussing the appropriate maximum stakes.

Barry Grant, chief executive official of Problem Gambling Ireland, also criticised the bill and said that even with a maximum stake of 3 cents, the organisation has already dealt with multiple problem gamblers. “How much more quickly will they lose a week’s wages at €10 a spin in a market that is unregulated and has a history of zero enforcement?” he 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: Ireland’s New Gambling Proposal Invites Flak

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.

Latest News

Gaming Innovation Group to enter the Croatian market

Published

on

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

Continue Reading

Latest News

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

Published

on

betway-scout Scout Gaming launches with the African licensee of the operator brand BetwayReading Time: 1 minute

 

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

Continue Reading

Latest News

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

Published

on

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

Continue Reading

Trending

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.