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Sri Lanka Govt Records 43% Increase in Betting and Gaming Levy in Q1 2023
Sri Lanka government recorded a 43% increase in the betting and gaming levy during the first quarter of the year, annually, even as tax collections by the Inland Revenue Department rose a record 216%, to RS316.62 billion ($1.12 billion).
In total, the country brought in some RS1.27 billion ($3.96 million) in gaming taxes during the period.
The nation’s Ministry of Finance notified at the end of last year that it had been tasked to submit an action plan to set up a casino regulatory authority, aimed at ensuring casino operators pay their fair share of tax.
The country has also agreed to issue new casino licenses.
The new casino regulatory body would go in line with a 2010 law that provides “the necessary legal provisions for the casino business [but] is not sufficient for regulatory activities including revenue recovery”.
No timeline has yet been given on the submission of the action plan for creating the watchdog.
Sri Lanka has dozens of operating casinos, the most opulent of which are placed in the capital of Colombo.
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Mindway AI Partners with SportsBroker to Elevate Responsible Gaming in UK Market
The post Mindway AI Partners with SportsBroker to Elevate Responsible Gaming in UK Market appeared first on European Gaming Industry News.
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Kambi Group plc and BetCity strengthen partnership with multi-year extension
Kambi Group plc (“Kambi”), the home of premium sports betting solutions, has agreed a multi-year extension to its successful sportsbook partnership with BetCity, a leading online sports betting and gaming operator in the Netherlands. In 2022, BetCity was acquired by Entain, one of the world’s largest sports betting and gaming groups.
The extended agreement will see Kambi continue to provide BetCity with its online Turnkey Sportsbook, the world’s leading end-to-end sportsbook solution. BetCity also leverages native app technology from Shape Games, Kambi Group’s Front End division, to provide an enhanced user experience.
Kambi first partnered with BetCity in 2021, successfully launching on day one of the Netherlands’ regulated online gambling market opening in October of that year. Following the launch, BetCity quickly established itself as one of the Netherlands’ leading brands.
Werner Becher, Kambi CEO, said: “We are delighted to extend our partnership with BetCity, a brand that has demonstrated exceptional ambition since its inception. This agreement reflects the strong relationship we have built over the past few years and underscores Kambi’s commitment to empowering partners with the premium technology and services needed to succeed in regulated markets. We look forward to continuing this journey with BetCity and supporting their next phase of growth as part of Entain’s stable of brands.”
Vic Walia, CEO of BetCity, added: “Since partnering with Kambi, BetCity has gone from strength to strength, achieving a prominent position in a highly competitive market. Kambi’s advanced Turnkey Sportsbook and high-quality service have been pivotal to our success, and we are excited to extend this collaboration as we continue to deliver a premium betting experience to our players in the Netherlands.”
The post Kambi Group plc and BetCity strengthen partnership with multi-year extension appeared first on European Gaming Industry News.
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Reelsoft launches Platform as a Service to empower game studios with affordable RGS access
Reelsoft, a leading provider of iGaming technology, has introduced Platform as a Service, a groundbreaking commercial model that allows game studios and aspiring developers to access its Vision RGS without the high upfront costs of purchasing their own platform.
With this new offering, studios can focus on game development without needing significant capital investment in the RGS, infrastructure, backend development, or internal hosting. Platform as a Service provides two flexible options: a shared instance for cost-efficient access or a dedicated instance with full back-office capabilities.
“We recognise that many innovative studios want to develop and distribute their own games but lack the financial resources to acquire their own RGS in the start-up phase,” said Thomas Nimstad, CEO of Reelsoft. “By introducing Platform as a Service, we’re making it easier for companies to enter the market, scale their content, and bring their ideas to life without the extensive barriers to entry.”
Reelsoft’s Vision RGS is an industry-leading platform that simplifies game development while offering unmatched scalability and ownership. By combining this new commercial model with its full ecosystem of tools – including Vision Link for aggregation, Vision Back Office for analytics, and Vision Promotions for player engagement – Reelsoft continues to provide a one-stop solution for game studios to thrive.
For companies looking to fast-track their entry into iGaming, Platform as a Service is the perfect solution. Get in touch with Reelsoft to learn more about this new opportunity.
The post Reelsoft launches Platform as a Service to empower game studios with affordable RGS access appeared first on European Gaming Industry News.
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