Stars Group reveals widespread financial growth in Q1

first_img The Stars Group has reported year-on-year growth across various key financials in the first quarter, with increases across all its poker, casino and sportsbook verticals Email Address Tags: Card Rooms and Poker Mobile Online Gambling Subscribe to the iGaming newsletter Casino & games AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwittercenter_img The Stars Group has reported year-on-year growth across various key financials in the first quarter, with increases across all its poker, casino and sportsbook verticals. Revenue amounted to $392.9m (€329.3m) in the three months to March 31, up 23.8% from $317.3m in the corresponding period last year. Real-money poker revenue was up 12.4% year-on-year to $245.9m, with casino and sportsbook combined revenue jumping 55% to $134.5m.Meanwhile, net earnings climbed by 13.1% from $65.8 to $74.4m, while adjusted net earnings also increased 22.8% from $113.4m to $139.2m. Diluted net earnings per common share rose by 9.1% to $0.36, while adjusted net earnings per common share also increased 17.9% to $0.66. Rafi Ashkenazi, chief executive of Stars Group, said: “The Stars Group’s strong first quarter results continued our organic growth trajectory. “We are pleased with the performance of each of our verticals, poker, casino and sportsbook, which are benefiting not only from the continued success of Stars Rewards, but also from our strategy of focusing on the customer and continued improvement to our product offerings. “Moving forward, the exceptional foundation of our existing business will be complemented by our acquisitions of CrownBet and William Hill Australia, and expected completion of the Sky Betting & Gaming acquisition. “These acquisitions will help diversify our revenue base, increase our exposure to regulated markets, and transform our combined sportsbook into a second customer acquisition channel. “These new additions will accelerate not only the organic growth we are seeing in our existing business, but also our progress towards realising our vision of becoming the world’s favourite igaming destination.” Related article: Stars Group reveals widespread financial growth in 2017 Stars Group reveals widespread financial growth in Q1 11th May 2018 | By contenteditor Topics: Casino & games Finance Sports betting Pokerlast_img read more

Santa Casa-backed Placard launches in Portugal

first_img Regions: Europe Western Europe Portugal Santa Casa-backed Placard launches in Portugal 12th June 2018 | By contenteditor Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Portugal has a 13th online sports betting operator after Santa Casa-backed Placard.pt went live just in time for the FIFA World Cup.SAS Social Betting, Gaming and Gambling Online, in which lottery firm Santa Casa has a majority stake, was awarded a licence by the Portuguese authorities last Friday. Placard.pt went live on Monday and offers betting on 22 sports.“Our objective is to operate in this regulated market, to have a good service of games for users of the platform, that this is intuitive and reliable,” said Paulo Calado, SAS director.“The company is also innovative in the sense that the dividends, the financial results, will be all of them, by the nature and the ends of its shareholders, channelled to social causes.”Online gambling was legalised in Portugal in 2015, and since then gross revenues of €208m ($245m) have been generated. More than half of this came from sports betting, with €82m from casino.The Regulation and Inspection Services of Games (SRIJ) said another 11 licences are currently being processed, and that no applications have ever been rejected.Related article: Online casino up in Portugal as sports betting flattenscenter_img Topics: Sports betting Tech & innovation Portugal has a 13th online sports betting operator after Santa Casa-backed Placard.pt went live just in time for the FIFA World Cup Sports betting Email Addresslast_img read more

India ‘unlikely’ to adopt commission recommendation on gambling

first_img India ‘unlikely’ to adopt commission recommendation on gambling Topics: Legal & compliance Sports betting Don’t expect changes to Indian gambling laws “any time soon”, expert warns Email Address AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Legal & compliancecenter_img 6th July 2018 | By contenteditor Regions: Asia India The Indian government is unlikely to accept the Law Commission’s recommendation that gambling and sports betting should be regulated “any time soon”, according to an expert on the country’s gambling industry.The commission’s report, ‘Legal Framework: Gambling and Sports Betting including Cricket in India’, was published yesterday (Thursday). The report calls for gambling to be regulated for those of 18 years and older, with bets linked directly to Aadhaar or PAN identity cards in order to reduce the risk of money laundering.The report also argued that there should be a change in FDI (foreign direct investment) policy to encourage the flow of foreign money into the domestic casino and online gaming industry and suggested a cap on the number of bets an individual will be able to place in a certain period.Jay Sayta, a Mumbai-based corporate lawyer, told iGamingBusiness.com that although the recommendation is a “positive step forward for the gaming industry” in India, change is unlikely to be imminent.“One must understand that the Law Commission is merely an advisory body whose suggestions may or may not be accepted by the central government,” said Sayta, who is also the founder of the GLaws.in website, which is dedicated to covering legal developments in the Indian gambling sector.“Given the current complex political situation, it is unlikely that the commission’s recommendations will be accepted and implemented by the central government any time soon.”Justice BS Chauhan, the commission’s chair, said that regulating gambling would “ensure detection of fraud and money laundering”.However, Sayta said that “the commission’s recommendations have come with a lot of riders and stringent, unrealistic conditions”.Moreover, one of the commission’s members, S Sivakumar, spoke out against the recommendation, saying that the report said could “lead to an unhealthy and unwarranted discussion”.According to Sayta, this lack of consensus is significant.“Although the norm is that normally all commission’s members unanimously approve its recommendations, there was a strong dissent by one of the members who noted that no form of gambling should be allowed,” he added.“The issue of regulating gambling thus remains complicated even today and there is unlikely to be any consensus on the issue in the near future.”Image: Lensbug Chandru Subscribe to the iGaming newsletterlast_img read more

Jockey Club hails 2018 performance but warns of pain ahead

first_img Jockey Club hails 2018 performance but warns of pain ahead Tags: OTB and Betting Shops Race Track and Racino AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Address Finance The Jockey Club, the UK’s largest commercial horse racing organisation, has reported a 6.7% year-on-year increase in revenue to £214.6m (€248.6m/$277.0m) for 2018, but warned betting shop closures are likely to impact industry growth in 2019. Topics: Finance Sports betting Horse racing The Jockey Club, the UK’s largest commercial horse racing organisation, has reported a 6.7% year-on-year increase in revenue to £214.6m (€248.6m/$277.0m) for 2018, but warned betting shop closures are likely to impact industry growth in 2019.This represents a tenth consecutive year of commercial growth for the Jockey Club, which owns 15 racetracks including Aintree, Cheltenham and Epsom Downs. Over the past decade, its turnover is up 68.2%, driven by growth in admissions, media, hospitality, commercial partnerships, events, training facilities and breeding services.This allowed it to contribute £27.1m towards racing prize money in 2018, with the Jockey Club pledging to at least match this contribution in the year ahead.It comes as other racetrack operators are preparing to reduce their prize contributions, with the industry braced for a drop in media rights revenue as a result of betting shop closures. The decision to cut maximum fixed odds betting terminal (FOBT) stakes to £2 from April 2019 is expected to see up to 1,000 betting shops closed, prompting Arena Racing Company to reduce its contribution to prize pools by 13%.However the Jockey Club has said it will reduce investment in other areas, such as improving its facilities, to maintain its prize contribution in 2019.In 2018, the Jockey Club ensured that increases in prize contributions were spread across all race classes, including at grassroots level, where prize pools increased by 34% in 2018.Across its 15 courses, £53.2m of prize money was distributed across 339 fixtures, a 16.4% year-on-year increase, with average prize money per fixture growing 18% to £157,000.The increase in revenue led to growth in operating profit before prize money was paid out, up 7.4% from 2017 to £48.1m in 2018. However, the increased prize contributions, coupled with investments in facilities, operations and the sport in general hit post-prize operating profit, which declined marginally to £21.0m.There was a sharper fall in net profit, which declined 50.5% to £4.5m.The Jockey Club chief executive Simon Bazalgette hailed progress made over the past ten years. However he also warned that the racetrack operator, and the wider industry, would see earnings hit by betting shop closures in the wake of the FOBT stake cut.“There’s a lot of positive progress the sport rightly can be proud of, but our next set of results will include the first year of the impact of the changes in the gambling sector and we need to be realistic that we’re now into a time of financial challenge for British Racing,” Bazalgette said.“If the sport as a whole collaborates, innovates and diversifies, we can come out of the other side in good shape,” he said. “At our core we have a lot of resilience and we need to keep up the good work going on in growing our fan base and not lose sight of the huge role the British public has played in making us Britain’s second biggest spectator sport.“What we can guarantee in uncertain times is that The Jockey Club will do everything in our power to support the sport along the way.” Regions: UK & Ireland Subscribe to the iGaming newsletter 26th April 2019 | By contenteditorlast_img read more

The hard truth about soft games

first_img Topics: Casino & games Legal & compliance Lottery People Social responsibility Bingo CSR Tags: Charitable Gaming Mobile Online Gambling Bingo Gambling on lotteries has long been viewed differently to other forms of gambling. But as the lines between the different types of operators, games and verticals become increasingly blurred, is it time for a rethink? Joanne Christie reportsWhen the UK government announced in July that it was launching a consultation into raising the minimum age to play National Lottery scratchcards and instant win games to 18, it sparked criticism for not going far enough.The Labour Party, and even some members of the Conservative Party, said that Minister for Sport and Civil Society Mims Davies’ initial view, that the age for draw-based games should remain at 16, was wrong. Their opinion was that the age for all forms of gambling should be raised to 18.
There are plenty who would agree with them, but there’s also some evidence to suggest that Davies might be right to draw a distinction between the more traditional weekly-draw type activities of lottery providers, often viewed as ‘soft’ gambling, and the instant games that are increasingly boosting the coffers of lottery providers worldwide.GamCare’s Annual Statistics 2017-2018, for example, show that while across all age groups National Lottery was mentioned as problematic for precisely 0% of Helpline callers, for scratchcards this number was 2%.Rather worryingly, among callers aged under 18, 21% mentioned scratchcards as posing problems for them, whereas only 2% mentioned National Lottery. The GamCare statistics do not provide online figures specific to National Lottery or scratchcard play.As far back as the early 2000s, leading addiction psychologist Mark Griffiths of the International Gaming Research Unit at Nottingham Trent University published research that argued scratchcards were a different form of gambling to weekly lotto draws and should be considered as “hard” gambling rather than an extension of the National Lottery.“I go back to the 1996 Home Office definition of hard gambling, which said it was a colloquialism for high or rapid staking, and obviously if you have the time, money and resources you can gamble on scratchcards again and again and again, and to me that is a hard form of gambling by that particular definition,” he says.The shift to online While Griffiths says scratchcards are less often associated with problem gambling than forms of gambling such as slot machines, he sees the move online as having increased the potential for harm. “Offline, people tend to buy, say, five scratchcards at once. They don’t scratch them at the place they bought them – they may go home and scratch them off and then come back if they have won anything.“Now scratchcards are online, we do see problems there because people do it constantly. It’s 24/7, 365 days a year, you can just literally do it again and again.”Johanna Lipponen, head of CSR and responsible gaming at Finnish monopoly Veikkaus, agrees that online scratchcards pose higher risks than draw-based games. “That is why when playing e-instants [online scratch cards] a customer must set personal daily and monthly mandatory loss limits. This loss limit also covers all casino-type games and e-bingo (so called fast-pace games) offered by Veikkaus.”While Blaine DeGracia, responsible gaming manager at Michigan Lottery, says it does not currently apply different risk profiles across its product range, “from a problem gambling standpoint, all of the Michigan Lottery’s offerings are subject to the same responsible gaming industry best standards, as the Michigan Lottery recognises that an individual could find any form of gambling problematic”.He adds: “It is important to note that, based upon sales figures reported across the United States, scratch-ticket games are more popular than draw- ticket games, and this fact may naturally equate to more instant-ticket problem gamblers when compared to the draw- ticket player population.”Making sure players are safe DeGracia says that the state lottery is currently looking into the possibility of beginning a research initiative with local universities to assess whether certain games are more likely to lead to problem gambling than others, to help it identify problem gambling among its players.Griffiths says that even if lottery operators don’t actually impose different limits for different games, the increased risk that comes with instant games is usually a factor in setting their limits: “I know for a fact that the Irish lottery has a €75 limit. It is across all of their products but it is really built in there for their instant games.”This also extends to alternative lottery providers such as betting-on firms, says Mark Knighton, head of operations at Multilotto. “We are very mindful that these can be very highly volatile games and we have mechanisms internally to monitor player behaviour so we have responsible gaming steps that we take with our players. If we see risk levels are increasing with a player, then we intervene straight away.“We can see that through the data and for a physical scratchcard you can’t. You can’t monitor that behaviour.”In this respect, online play could offer greater protection to players given the mandatory limits and automated responsible gambling processes in place at many sites.At Veikkaus, for example, Lipponen says: “When a customer uses any option for a self-exclusion, he/she is offered the option of being contacted by the Peluuri helpline. If a customer agrees to a helpline call, a Peluuri helpline officer will call the player from an anonymous number to discuss and help a player concerning his/her playing habits or possible problem gambling.”Draw-based dangers However, Knighton, who prior to joining Multilotto earlier this year had been involved in many responsible gaming initiatives, including Svenska Spel’s early efforts to market Playscan, points out that operators also need to be aware that draw-based games are not without problem gambling risks entirely.“From  a volatility point of view a weekly draw is probably not as high as, for instance, a scratchcard where you can buy multiple scratchcards within 10 seconds.“There is definitely a separation, however I know from a problematic point of view lotteries are within that spectrum of a problem gambler. The lottery is the last, rock-bottom step within a problematic pattern, because they are looking for the dream win. Soif you have a big lottery draw, someone could potentially   put a lot of money on a lottery draw hoping that they will win the lottery to clear all their debts. We know historically from problem gamblers that this is a step they go to.”Griffiths adds that one of the reasons why draw-based lotteries are less associated with problem gambling are the structural characteristics of the game, including the frequency of the draws, and that if this changes, then problem gambling could also increase.“My argument with any of these things is you can create the single safest slot machine or you can create the single most addictive lottery game; it is all about manipulation of structural characteristics,” he explains. “We shouldn’t look at things by game, because if people just get this idea that lotteries are safe and slot machines aren’t, it actually does leave that door open for people to have an automated lottery that happens every hour, or every minute, and those products would have a higher association with problem gambling than our traditional bi-weekly lottery draws.”Knighton has a similar view. “You can get quick draw games, which from a player point of view provide quick gratification, so they could potentially feed problematic behaviour just as much as scratchcards in my mind.”This is among the reasons he’s of the view all gambling should be restricted to over-18s. “I’m pretty shocked that they would let 16-year-olds do any form of gambling from a maturity perspective or a financial perspective – 18 is the baseline for most things.”Griffiths agrees: “I’ve spent 30 years studying problem gambling. To me, gambling is quite clearly an adult activity. We’ve got rules on almost every form of gambling in this country that say you have to be 18. Even among draw-based games I would raise it to 18.”We’ll have to wait some time to find out which way the UK government’s decision will go on the matter, with the consultation not due to close until October. It’s clear, however, that some
of the games provided by state lottery operators do have more potential for harm than the prevailing ‘soft’ perception of lotteries would imply – and this does not only affect those under 18.With the ongoing expansion of game types provided by monopoly providers, and the increase in the number of alternative lottery models in the market, this is only likely to increase – which means responsible gaming is set to move higher up everyone’s agenda.We asked Camelot, which operates the National Lottery in the UK, for comment for this feature but unfortunately it was unavailable.Image: Bdviets Regions: Europe UK & Ireland US Nordics Finland Michigan AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter The hard truth about soft games 13th September 2019 | By contenteditor Gambling on lotteries has long been viewed differently to other forms of gambling. But as the lines between the different types of operators, games and verticals become increasingly blurred, is it time for a rethink? Joanne Christie reports Subscribe to the iGaming newsletter Email Addresslast_img read more

Nektan raises £125,000 in additional share placement

first_img Tags: Online Gambling Topics: Finance Finance Subscribe to the iGaming newsletter Nektan raises £125,000 in additional share placement Email Address 6th November 2019 | By Daniel O’Boyle White label and gaming content provider Nektan has placed a further 2.5m shares with an investor on top of its earlier share placement that concluded in October, raising a further £125,000 (€145,297/$161,073).The total value of the company’s placement of 54.5m shares is now £2.73m, after the initial placement raised £2.6m. Nektan had initially intended to raise £3m through a placement of 52m shares.At one point, Nektan had suggested that it would surpass the target and ultimately raise £5m. This saw the placement deadline extended from 25 September to 2 October, then 9 October, before being pushed back to 18 October. and finally 24 OctoberHowever, negotiations with investors revealed that interested parties were proposing terms “unacceptable” to the board, resulting in these groups being excluded from the placing and the total raised fell below the initial target.The 2.5m shares are values at five pence apiece. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitterlast_img read more

William Hill US to launch racebook in Florida with Casino Miami

first_img William Hill US is set to launch betting on horse racing in Florida after agreeing a deal to open a new land-based facility at Casino Miami, marking the first time it will operate in the market.Subject to regulatory approval, the racebook is scheduled to open before the end of the current year. The planned facility will feature 10 screens for fans to watch events, as well as a 30ft video wall, high-top tables and 30 race carrells.Should William Hill US and Casino Miami secure approval for the launch, the new racebook would offer pari-mutuel simulcast betting.While wagering will be limited to thoroughbred and harness horse racing, as well as greyhound racing and Jai Alai, from across the US, the launch would give the operator a foothold in the state should sports betting be legalised.Read the full story on iGB North America. William Hill US to launch racebook in Florida with Casino Miami Regions: US Florida Email Address William Hill US is set to launch betting on horse racing in Florida after agreeing a deal to open a new land-based facility at Casino Miami, marking the first time it will operate in the market. 26th November 2019 | By contenteditorcenter_img Topics: Sports betting Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Sports bettinglast_img read more

Hokkaido drops casino resort bid amid environmental concerns

first_img Hokkaido Governor Naomichi Suzuki has announced that the Japanese island will no longer seek an immediate bid to construct an integrated casino resort due to concerns about the impact the project could have on the local environment.The island had been named as one of several potential sites for a resort, which have been made possible under a law passed by Japan’s parliament in July 2018.However, Suzuki told the Hokkaido prefectural assembly today (29 November) that the island will take itself out of the immediate running while it addresses environmental concerns related to the project.“An integrated resort in Hokkaido, which would coexist with nature, has big potential, but I thought it would be impossible for us to give due consideration to the environment in the limited period of time before the government selects the locations,” Suzuki said, according to the Kyodo News agency.Suzuki did not rule out returning to the subject, saying the government would prepare to bid for a casino resort in the future, with the aim of contributing to the “sustainable development of Hokkaido”.Earlier this year, Hard Rock International unveiled plans to build an integrated entertainment resort on Hokkaido as it part of its bid to secure three casino gambling licences in the country.The proposal included a number of hotels, a Hard Rock Live venue, theatres and a direct monorail link to Chitose International Airport. The initial plans did not specifically refer to a casino, with only 3% of the total resort size permitted to host gambling, as dictated by the 2018 law.Okinawa, Osaka, Yokohama, Wakayama, Sasebo and the capital of Tokyo are among the other sites being considered for a casino resort. Law will permit an initial three licences to be awarded, each of which will be valid for 10 years and subject to renewal every five years after launch.Japan’s government said it will consider adding more resorts seven years after approving the first batch of three.Other provisions include blocking residents from visiting a casino more than 10 times per week. Foreigners can visit as many times as they like for free, but locals will face a charge of ¥6,000 (£42/€50/$56) for each visit.Earlier this month, Japan’s government nominated Michio Kitamura, the former inspector general of legal compliance at the Defence Ministry, to head up its new Casino Management Committee regulatory body.Kitamura was one of several proposed appointments to the new regulatory body, which the government aims to formally establish in January next year. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Address Regions: Asia Japan Casino & games 29th November 2019 | By contenteditorcenter_img Hokkaido Governor Naomichi Suzuki has announced that the Japanese island will no longer seek an immediate bid to construct an integrated casino resort due to concerns about the impact the project could have on the local environment. Subscribe to the iGaming newsletter Topics: Casino & games Hokkaido drops casino resort bid amid environmental concernslast_img read more

Poland sees decline in offshore market share

first_imgLegal & compliance AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 12th March 2020 | By contenteditor Poland sees decline in offshore market share Subscribe to the iGaming newsletter The Polish Ministry of Finance has revealed that the market share for so-called ‘grey’ operators fell to 18.5% in 2019, below the average across the European Union (EU). Tags: Online Gambling The Polish Ministry of Finance has revealed that the market share for so-called ‘grey’ operators fell to 18.5% in 2019, below the average across the European Union (EU).Based on data from industry analysts H2 Gambling Capital, the current EU average for grey operators stood at 26.5% in 2019. H2 based these findings on the average net revenue of such operators across EU countries.Poland classifies grey operators as those that are located outside of a country but offer online gambling to players inside the regulated jurisdiction, without regulatory approval.The 2019 figure for Poland is down from 29.1% in 2018, 39.4% in 2017 – when the country’s Gambling Act was amended – and a significant decline on 2016’s grey market share of 79.4%.Grey market share also fell year-on-year during the same period in the EU, with the average dropping from 40.5% in 2016 to 33.5% in 2017 and then 31.0% in 2018.However, H2 said the EU results do not include the unregulated Luxembourg market, nor the UK, Ireland or Malta, as they all allow operators to offer igaming without a local licence.In terms of specific market areas in Poland, grey operators accounted for 8.8% of the country’s online sports betting market in 2019, compared to the EU average of 25.2%.Meanwhile, grey operators were responsible for 55.3% of revenue in the Polish online casino market, down from 98.2% in 2018 and 100.0% in both 2017 and 2016. The EU average for 2019 stood at 45.2% for the casino sector last year.Analysing the H2 report, the Ministry of Finance said the findings are evidence that the legal framework in Poland is working. Current measures in place include the abiltiy to request that internet service providers block access to the offshore operators.The new report comes after a figures released by legal association Graj Legalnie in January showed that regulated bookmakers in Poland generated combined turnover of PLN6.7bn (£1.36bn/€1.54bn/$1.71bn) in 2019, a 28.8% year-on-year increase but less than the unlicensed market.Graj Legalnie suggested increased activity from unlicensed operators has meant that they grey market now makes up almost 60% of the overall Polish gaming market.This came after a Polish Supreme Audit Office last September found that while the regulated gambling industry had grown rapidly following amendments to the country’s Gambling Act in 2017, it is still dwarfed by the illegal market. Regions: Europe Central and Eastern Europe Poland Email Address Topics: Legal & compliancelast_img read more

Bragg to sell online media division to SN&CK

first_img Toronto-listed supplier Bragg Gaming Group has agreed to sell its online media division, including its GiveMeSport news portal, to SN&CK Media Limited (SML) after completing a strategic review of its business. 4th May 2020 | By contenteditor Marketing & affiliates Topics: Marketing & affiliates Sports betting Strategy Tags: Online Gambling Bragg to sell online media division to SN&CKcenter_img Toronto-listed supplier Bragg Gaming Group has agreed to sell its online media division, including its GiveMeSport news portal, to SN&CK Media Limited (SML) after completing a strategic review of its business.Under the deal, Bragg will receive a total consideration of up to £400,000 (€454,013/$496,427). This will comprise an upfront cash payment of £50,000 upon completion, in addition to 10% of the gross revenue from the division for a period of 21 months after the sale.Bragg launched a strategic review of its online media arm in August of last year, with a view to selling off the unit, which also includes GiveMeBet, to focus on its B2B operations. Bragg entered the B2B space through the acquisition of igaming content aggregator Oryx Gaming.The board of directors at Bragg has approved the sale of the business and subject to customary conditions of closing, Bragg expects the deal to be completed early this month.“The completion of the strategic review process and the execution of the agreement for the sale of Bragg’s online media division to SML will allow us to focus our efforts and resources on Oryx, our B2B business, which is growing at an exponential rate,” Bragg chief executive Dominic Mansour said.“Given the current environment and the significant jump in virtual and digital activities, we have seen demand for Oryx’s online gaming and gambling services increase over the past few months. “We have made significant strides over the past year in enhancing our platform and building this asset, and we will now be able to further streamline our activities and reduce our cash burn.”Established in 2007, SML is an independent sports digital media company with over 30 million sports fans, specialising in multi-channel content creation, distributed through data-driven engagement strategies.SML chief executive Niall Coen added: “This acquisition is highly synergistic and brings our audience size to the next level. With this acquisition, SML will become one of the largest sports media web platforms in the UK and largest globally on Facebook.“Both Bragg and SML have long-standing relationships with quality partners that we will be able to mutually leverage in order to grow at an exponential pace. We are excited about combining the two businesses and expanding our platform to take advantage of its 25 million Facebook followers and the great work done by the GMS team.” AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Email Addresslast_img read more