IG Group makes progress despite ‘regulatory scrutiny’

first_img IG Group chairman Andy Green has paid tribute to the company’s performance in the 2018 financial year, saying that it was able to overcome “ongoing regulatory uncertainty” to post year-on-year growth. Green said the contract for difference (CFD) and spread betting firm has faced a “challenging” year, during which various new rules and regulations were set out for companies in this sector. In December, the European Securities and Markets Authority, the EU’s financial regulator, announced a crackdown on binary options and CFDs. This was followed by confirmation that the UK Financial Conduct Authority was to review the current process for the provision and distribution of CFD products. However, in spite of these changes, IG Group has today (Monday) posted an impressive set of financial results for the past year. Revenue at the firm was up by 16% year-on-year to £569m (€636.5m/$727.1m), while operating profit also increased 32% to £281.1m. Subscribe to the iGaming newsletter IG Group makes progress despite ‘regulatory scrutiny’ Topics: Finance Reflecting on the results, Green said the performance is all the more impressive, considering that IG Group had to contend with a “backdrop of intense regulatory scrutiny”. “The past year has been both challenging and successful for IG,” Green said. “I am proud of the operational performance of the business this year, and of the strategic progress we have made. “In an industry that has been tainted by the poor practices of some providers, IG has maintained its focus on championing the client and treating our clients fairly at all times. “The last 18 months have been a challenging period in our company, but our operating and financial performance has been strong.” Although Green issued a warning that revenue in the 2019 financial year is likely to be lower due to regulatory changes in the UK and EU, the company expects to return to growth after this period. Green said: “In the medium term, I believe that the initiatives we are putting in place now, coupled with our people’s commitment to innovation and championing the client, will see IG extend its industry-leading position and become even stronger.” CFD and spread betting firm posts 16% rise in revenue AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Finance Tags: Binary Options and Forex 13th August 2018 | By contenteditor Email Addresslast_img read more

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Dutch Senate to vote on Remote Gaming Bill next week

first_img Email Address 13th February 2019 | By contenteditor Subscribe to the iGaming newsletter The Dutch Senate has confirmed it will vote on the Remote Gaming Bill next week, in a move that could take the country closer to launching its regulated igaming market. The Senate has been debating the legislation for the past week in the hope of moving the bill forward. The bill was passed by the lower chamber of the Dutch legislature, the House of Representatives, in 2016 but progress has stalled in the Senate. However, following a hearing yesterday (February 12), it has been confirmed that lawmakers in the upper house will vote on the bill on February 19.Among the issues that have been up for debate over the past few days include a number of proposals by Minister for Legal Protection Sander Dekker, designed to offer additional protection to consumers.Such measures include unlicensed operators that have been actively targeting consumers in the Dutch market to observe a two-year ‘cooling down’ period before they are permitted to apply for a licence.Dutch gambling regulator the Kansspelautoriteit (KSA) would then be able to assess the behaviour of these operators during the period and decide whether they should be allowed to submit an application.“I want to make a distinction with regard to channelling and related consumer protection,” Dekker said in a letter to the Dutch Senate. “To be eligible for a licence, providers must show that they can behave.“Illegal providers who continue to actively focus on the Dutch market and recruit players here, I want to ban. I have called these providers cowboys.”Dekker has also proposed a number of restrictions for advertising, but advised against a blanket ban on ads, instead saying licensed operators should only be allowed advertise under strict conditions.Operators would need to ensure ads do not encourage excessive participation or be aimed at socially vulnerable groups, including those under the age of 24, while licensees would not be permitted to use professional athletes, influencers or vloggers to promote their services.Live betting adverts would be banned during the event they are in relation to, while all televised gambling adverts would be prohibited between the hours of 6am and 7pm.Dekker goes on to outline how the KSA would be permitted to issue specific instructions to payment service providers, marketing companies and other facility service providers in order to block access to illegal sites.“This way, for example, KSA can directly block payment services to illegal providers,” Dekker said.Last week, the European Gaming and Betting Association praised Dekker’s efforts to help push the bill through, calling on Dutch lawmakers to introduce a national online gambling framework to help protect consumers and allow the country to benefit from iGaming taxation.Image: Max Pixel Regions: Europe Western Europe Netherlands Tags: Online Gambling The European Gaming and Betting Association (EGBA) has called on The Dutch Senate has confirmed it will vote on the Remote Gaming Bill next week, in a move that could take the country closer to launching a legal and regulated iGaming market. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Legal & compliance Dutch Senate to vote on Remote Gaming Bill next week Legal & compliancelast_img read more

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Bet365 to expand Maltese operation amid Brexit uncertainty

first_img Bet365 has confirmed that it is to increase its operational presence in Malta and relocate certain functionality to the country due to ongoing concerns as to how the UK’s exit from the European Union will impact its business in Gibraltar.The online gaming operator has operated with a dual regulatory and licensing strategy position between Malta and Gibraltar for a number of years, but will now switch its focus to the former.Bet365 plans to expand on the existing resources and infrastructure it already has in Malta, with the idea of switching some of its functionality from Gibraltar, a British Overseas Territory, to the country. Such plans were first revealed by the operator last May.Confirming the news in a statement issued to iGamingBusiness.com, a Bet365 spokesperson said the operator plans to maintain a presence in Gibraltar, with the “final rationalisation to be determined after we have completed our staff consultation”.“From an operational and technical perspective and given our operating model, it has become increasingly challenging to efficiently run multisite operations and this has necessarily resulted in us conducting a review of our operations,” the statement said.The spokesperson said Bet365, along with many other igaming brands in Europe, continues to operate in a “highly uncertain environment, driven primarily by the continuing Brexit landscape”, and this had a major impact on its decision to expand in Malta.“To assist with business planning and in order to maintain operational effectiveness, we intend to enhance our Maltese operational hub and relocate certain functionality there,” the spokesperson said.“We are now consulting with staff in relation to such relocation. It is intended to maintain a presence in Gibraltar and the final rationalisation will be determined after we have completed our staff consultation.”While Bet365 has declined to comment further on the move at present, it has said it is working closely with all stakeholders on the relocation plans.Bet365 is not the only operator to switch some operations from Gibraltar to Malta as a result of Brexit, with rival William Hill last year also setting out plans to open a new office in the country.Confirmation of the move comes as Theresa May today (May 24) announced that she is to stand down as Prime Minister of the UK on June 7. Strategy Bet365 has confirmed that it is to increase its operational presence in Malta and relocate certain functionality to the country due to ongoing concerns as to how the UK’s exit from the European Union will impact its business in Gibraltar. 24th May 2019 | By contenteditor Email Address Bet365 to expand Maltese operation amid Brexit uncertainty AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Regions: Europe Southern Europe Gibraltar Malta Topics: Strategy Subscribe to the iGaming newsletter Tags: Online Gamblinglast_img read more

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Swedish court upholds Spelinspektionen’s Cherry licence ruling

first_img16th October 2019 | By contenteditor Tags: Online Gambling Regions: Europe Nordics Sweden Swedish court upholds Spelinspektionen’s Cherry licence ruling Legal & compliance Swedish gambling regulatory body Spelinspektionen has claimed victory in an Administrative Court case over its decision to award a limited licence to a number of online gaming brands owned and run by Cherry AB.Spelinspektionen issued licences to a total of seven brands run by Co Gaming, which is 100% owned by Cherry AB, but stated that these licences would only run for an initial period of two years.Licences were awarded to Casinostugan, ComeOn Sweden, XC Gaming Sweden, Cherry Casino Sweden, Hajper Ltt, Snabbare Ltd and MOA Gaming Sweden, but all of the brands appealed to the court over the decision to limit their licences.However, the court in Linköping ruled in favour of Spelinspektionen, saying that it is within its right to limit the licences, rejecting the brands’ appeals over the decision.The ruling comes after the Administrative Court also recently moved to reduce Casino Cosmopol’s penalty fee for breaching licence conditions related to money laundering and terrorist financing.Spelinspektionen issued Casino Cosmopol’s with an initial penalty fee of SEK8m (£641,023/€739,493/$815,797) after identifying serious and systematic deficiencies during an investigation of the land-based casino chain, which operates four venues across Sweden.The court essentially accepted deficiencies that were identified by the regulator during its initial investigation and agreed Casino Cosmopol should pay a penalty fee,However, the court said based on an assessment of the nature, character and extent of the violations set out by the regulator, the penalty fee should be reduced to SEK3m.Spelinspektionen could move to appeal against the court ruling. Topics: Legal & compliance Swedish gambling regulator Spelinspektionen has claimed victory in an Administrative Court case over its decision to award a limited licence to a number of online gaming brands owned and run by Cherry AB. Email Address Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitterlast_img read more

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iGB-Pentasia Salary Survey 2019: Part 3

first_img Andrew Cook introduces our breakdown of salary trends by department and role with some advice for both clients and candidates on how to use the data and findings from this year’s salary survey to their advantage. Today we cover analytics & data, customer services and compliance, legal & fraud Tactics are critical when it comes to talent. Whether you’re buying it (as an employer) or selling it (as a candidate), knowing the value of what’s on sale is critical. The data offered here can inform your tactics, allowing you to achieve the best result whether you’re applying for a position, or looking to fill one.Salary bands are compiled using data from the placements made by Pentasia in the last 12 months, as well as its consultants’ knowledge of the market.The survey covers a wide range of roles and territories to ensure it takes into account variations in factors such as specialisms, seniority and experience. Data from senior management roles are included, but not C-suite or Board because salaries at this level vary so greatly on an individual basis. So once you have worked out what the average salary is for a particular set of roles in your location, let’s talk tactics for both sides…Employers What should we be paying?That depends on three factors: 1. What your competitors are paying? This is your baseline 2. How much will stop the candidate looking elsewhere? This should be the baseline plus 5-10% 3. How much will persuade the candidate to jump ship? This is the price you’ll need to pay to make the hire, and should be the baseline plus around 10-20%How much does money matter? Candidates take a job for four reasons: the company, the job, the people and the compensation. The more you can offer in the first three, the lower the compensation package you put on the table will need to be. How do you value a skill? i) Weigh the scarcity of resources available against the demand for the skill in question ii) Assess the role’s importance to your business iii) Decide what the cost would be of losing existing staff from your organisationCandidates Should I be paid more?• Industry experience is valuable: please bear in mind that our salary survey is igaming-specific and niche experience is highly prized • Bear in mind that the employment market as a whole is more accustomed to regular job changes than 10 years ago, when long-term loyalty was seen as keyHow do I get a promotion? Most employers understand that your worth increases with each year – or even month – of experience you hold. Been with an organisation for some time? It’s certainly well worth asking about advancement.What else should I expect from my employer? • A large number of employers now offer a broad range of flexible work options, including flexi-time and remote working • Additional benefits on offer in the modern workplace include bonuses, training allowances and travel allowances • There is generally some value in working with an organisation with a great culture where you are among like-minded peopleAnalytics & data Analytics has become an absolutely critical part of the igaming industry, ever more vital as competition for customers grows ever fiercer and as strict regulation limits acquisition opportunities.Data departments are growing rapidly. The increase in lower-level roles has skewed the data to show a downward trend, but this disguises the overall increases in investment and senior salaries.A premium is put on data scientists – those who can develop algorithms and statistical models – as well as BI analysts whose insights drive strategy.Gambling industry expertise is obviously desirable, but even junior professionals and graduates find their skills in high demand. (Ashley Gooders)Compliance, legal & fraud Changes to the regulation across the igaming world have made compliance and legal recruitment a high priority for many employers. Staying ahead of the curve is essential, given the risk of severe fines and reputational damage that can be caused by a failure to comply with new or changing rules.Employers face competition for the right people, especially when they are in short supply in recently regulated territories such as Scandinavia, Portugal and, of course, the US. (Kerry Gillitt)Customer services Offering great customer service is a true differentiator for an igaming operator, which means those who interact directly with clients should be – and often are – highly valued.Customer support agents with language skills are particularly valuable to operators, and these individuals can expect to sit high on the relevant salary bands.However, the highest wages go to those whose roles spill over into ‘customer experience’ – in other words people who deliver customer service excellence through all customer touchpoints. (Christine Hili)Tomorrow in Part 4, we focus on design & tech, finance & operations, marketing, product & project and sales & account managementRelated articles: iGB-Pentasia Salary Survey 2019: Part 2 iGB-Pentasia Salary Survey 2019: Part 1 Topics: Casino & games People Sports betting Strategy 28th November 2019 | By Stephen Carter Tags: Online Gambling Andrew Cook introduces our breakdown of salary trends by department and role with some advice for both clients and candidates on how to use the data and findings to their advantage. Today we cover analytics & data, customer services and compliance, legal & fraud AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwittercenter_img Subscribe to the iGaming newsletter iGB-Pentasia Salary Survey 2019: Part 3 Email Address Casino & gameslast_img read more

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Affiliate Monitor – February 2020

first_img24th February 2020 | By Joanne Christie Sports betting Results from the final quarter of 2019 laid bare the enormous impact of both regulators and Google on the affiliate sector.Though the increasing compliance demands from authorities in countries such as the UK and Sweden have in the past undoubtedly favoured the big players such as those featured in this report, they are now beginning to take a toll on these affiliates too. This is particularly true in Sweden, where the opening up of the regulated market hasn’t been quite the boon many hoped for.A first look at the new Germany gambling treaty has understandably caused concern among the sector, with some interpreting the proposed wording as outlawing affiliate activity altogether.However, while the sector is clearly under pressure, there are some bright spots. Better Collective continues to outperform its peers, with its growth in revenues and NDCs bucking the declining trend elsewhere.Though it has not yet overtaken market leader Catena Media on revenues, it has taken the lead on NDCs and its recent move into esports could further strengthen its position.But while its revenues and NDCs may be on the slide, Catena is clearly still getting something right judging by its resilience in the face of the Google updates that wreaked havoc on some of its competitors.While the changes made by the search giant left XLMedia reeling, Catena said its sites were performing well, with insiders theorising this was largely due to its ‘hero’ brand AskGamblers.XLMedia was not the only affiliate impacted by Google’s algorithm changes – Gambling.com and GiG’s media services division also took a hit, though both said they’d made changes to counteract the fall in their rankings.We hope you enjoy this report and find it useful. Should you have any suggestions or feedback please don’t hesitate to email me at [email protected] CarterEditorial director, iGBIf you can’t use the Flash player below you can download the report here.​ Regions: Europe UK & Ireland US Central and Eastern Europe Nordics Southern Europe Germany Sweden Italy Spain Tags: Card Rooms and Poker Mobile Online Gambling AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Casino & games Finance Marketing & affiliates Sports betting Poker Subscribe to the iGaming newsletter Affiliate Monitor – February 2020 In this edition of iGB’s quarterly report we look at results from the final period of 2019, which lay bare the huge impact of both regulators and Google on the affiliate sector Email Addresslast_img read more

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British Columbia launches inquiry into money laundering

first_imgFinance British Columbia launches inquiry into money laundering Topics: Finance Legal & compliance Lottery 25th February 2020 | By contenteditor AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter The British Columbian government has commenced its inquiry into money laundering in the Canadian province, with a focus on identifying possible links with the gambling sector.Recent government-commissioned reports highlighted gaming as one of several industries that could have issues with money laundering, alongside the luxury car and real estate markets. Media reports estimate that as much as CAD$5bn was laundered in the province in 2018 alone.The New Democratic Party-led government has launched the inquiry to uncover further evidence and establish how it can address such problems.Among the initial issues covered in the reports was that people had been allowed to enter casinos with large bags of cash, but were not questioned by staff as to how they acquired the money. This, the government said, raised concerns over potential links money laundering.Read the full story on iGB North America.center_img Regions: Canada British Columbia The British Columbian government has commenced its inquiry into money laundering in the Canadian province, with a focus on identifying possible links with the gambling sector. Subscribe to the iGaming newsletter Email Addresslast_img read more

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The week’s esports fixtures: 21 to 27 May

first_imgCasino & games 21st May 2020 | By contenteditor Tags: Video Gaming AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter The week’s esports fixtures: 21 to 27 May Topics: Casino & games Esports Sports betting Video gamingcenter_img Subscribe to the iGaming newsletter iGB, in partnership with Bayes Esports Solutions, is proud to present a regular list of fixtures for some of the most popular esports competitions, helping operators looking to expand into the esports market while the traditional sports calendar has been significantly reduced.This focuses on three of the most popular esports titles, Counter-Strike: Global Offensive (CS:GO), Dota 2 and League of Legends. With a number of League of Legends focused tournaments ending in recent weeks, we cover just one tournament this week, the LPLOL 2020 Spring Cup, which concludes on 24 May. CS:GO, on the other hand, tops the rankings, with 22 fixtures taking place in the ESEA Premier Division Season 34 North America over the coming seven days. The tournament begins with a round robin format, in which all competing teams play one another, before eight advance to the playoff stages. That runs until the grand final, on 21 July. A Dota 2 contest, the Oceanic Esports League Season 1 Group Stage, follows, with 14 fixtures. That sees 10 teams compete for an AUD$25,000 prize pot, with the event concluding on 6 June.Next up is another CS:GO event, the Dreamhack Masters 2020 Spring’s Europe edition. Having begun on 19 May, it sees 16 teams from the continent playing for a $160,000 prize pool. Scroll down for the full list of CS:GO, Dota 2 and League of Legends fixtures in the upcoming week.This list is not yet exhaustive, and may be subject to change. Find out more about the Esports Directory here.Bayes Esports Solutions is the go-to provider for the esports data sector – for data right holders, consumers and service providers alike. The Berlin startup has developed BEDEX, the world’s first independent esports data marketplace for In-game data. iGB, in partnership with Bayes Esports Solutions, is proud to present a regular list of fixtures for some of the most popular esports competitions, helping operators looking to expand into the esports market while the traditional sports calendar has been significantly reduced. Email Addresslast_img read more

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US tribal and commercial casino reopenings continue

first_img US tribal and commercial casino reopenings continue Casino & games Subscribe to the iGaming newsletter A number of major commercial and tribal casinos operators have announced that they will begin to reopen some of their facilities across the US, following a period of temporary closure due to the novel coronavirus (Covid-19) pandemic.Certain states are now permitting casinos to reopen, provided that they abide by new measures to help combat the spread of the virus, including operating with limited capacity and promoting social distancing throughout their facilities.Penn National Gaming (PNG) has reopened its five casinos in Louisiana, after Governor John Bel Edwards lifted a certain restrictions related to coronavirus, allowing casinos to recommence activities.PNG’s Boomtown Casino Bossier City, Boomtown Casino New Orleans, L’Auberge Casino Baton Rouge, L’Auberge Casino Lake Charles and Margaritaville Casino Bossier City are operating at limited capacity, in line with state regulations.The operator will today (May 21) also reopen a further five properties in Mississippi; the 1st Jackpot Casino Tunica, Ameristar Casino Hotel Vicksburg, Boomtown Casino Biloxi, Hollywood Casino Gulf Coast and Hollywood Casino Tunica, again at limited capacity, per state and regulatory guidelines.PNG said it plans to resume gaming operations in other states as and when they permit facilities to reopen, including in West Virginia, which is set to reopen on June 5Read the full story on iGB North America. Email Address Regions: US Louisiana Mississippicenter_img 21st May 2020 | By contenteditor Topics: Casino & games A number of major commercial and tribal casinos operators have announced that they will begin to reopen some of their facilities across the US, following a period of temporary closure due to the novel coronavirus (Covid-19) pandemic. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitterlast_img read more

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Bayes secures $6m investment to fund expansion plans

first_img Topics: Esports Subscribe to the iGaming newsletter Participating in the funding round were the Pohlad family investment group, family of financier Carl Pohlad, which owns the Minnesota Twins Major League Baseball franchise. Also involved were Fertitta Capital, the private investment firm founded by the former owners of the Ultimate Fighting Championship, technology giant Sony’s Innovation Fund, as well as other sports and media investors. Bayes Holding, the company formerly known as Dojo Madness, has secured $6m in new funding from a number of high profile US investors, which will be used to further expand its data and content solutions. “With our two business units, we are able to provide a never-seen-before depth of data when it comes to professional esports tournaments and matches globally,” Bayes co-founder and managing director Jens Hilgers. “This provides a great starting point for the creation of new services and products leading to greater entertainment offerings for the esports fans and community.” “We have high conviction in the Bayes team, and believe that Bayes’ technology and esports data platform represent the best solution for all stakeholders to advance the industry at large.” 23rd September 2020 | By Aaron Noy It comes with Bayes on track to become profitable in 2020, driven by significant year-on-year revenue growth. This has been aided by major data partnerships with tournament organiser ESL and League of Legends publisher Riot Games. Growth is being driven by Bayes’ joint venture with Sportradar, Bayes Esports Solutions, and its Shadow.GG analytics and data visualisation product suite. Email Address Bayes secures $6m investment to fund expansion plans Esports The funding will be used to develop new platform features for both data suppliers and consumers. Regions: US New investor Charlie Pohlad added: “The collection, refinement and distribution of esports leagues’ data, combined with the provision of products on top of it, is necessary to further professionalize the esports ecosystem and grow the overall market. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitterlast_img read more

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