Archives February 2024

In Tennessee, legislation that would enable local governments to decide whether to permit sports betting will reportedly be discussed when the 111th General Assembly convenes on January 8th, 2019.

Filed in November by House Representative and Assistant Minority Leader Rick Staples (pictured, right) (D-Knoxville), HB0001 (“Tennessee Sports Gaming Act”) would make sports betting legal in local jurisdictions when approved by local election, according to the news report at the time.

Bill’s intent:

Staples communicated that the bill’s intent is for local governments to gain an additional income source, according to a recent report from News Channel 5 Nashville.

“Billions of dollars leave the state of Tennessee to our neighboring states with casino and table gambling.  So, this is a new stream of revenue that the federal government is allowing the states to take advantage of,” Staples said.

State presence requirement:

Companies offering sports betting services would reportedly need to have a physical presence in Tennessee, however, kiosks could be placed throughout the state for the purpose of collecting people’s bets.

While the intent of the legislation is to help smaller communities within the state, Staples is of the opinion that Middle Tennessee would also be positively impacted.

Representative Staples said…

“Well, it would cause an extra boom in a city like that that would have three professional teams and a lot of the local bars or restaurants. As long as they’re not serving alcohol in the same area that the sports book is, they can generate a lot of income and even more tax dollars.”

Establishment of regulatory body:

According to the current report, under the proposed legislation, a gaming commission would first need to be established in the state. Once established, the commission would work in unison with the Tennessee Bureau of Investigation (TBI) to ensure that establishments are regulated.

Local communities would then need to petition their respective governments, with a minimum of 10 percent of voters requesting a vote on the legalization of sports betting in their area.

Additional legislation:

Staples isn’t alone in his support of legalized sports betting in Tennessee. Back in May, Republican State Senator Brian Kelsey tweeted that he also intended to introduce legislation to legalize and tax sports gambling and is currently drafting his own version of the bill.

Senator Kelsey said…

“I am in the process of drafting a sports betting bill that would generate revenue specifically for preK-12 education.

“I think it is important to have local control over where sports betting takes place, so my bill would allow City Councils in Memphis and the other three large cities to designate areas for physical sports betting locations subject to a vote by the people. Local governments will also have the authority to collect some of the revenue from these physical sports betting locations. I will be discussing the issue with my fellow legislators when we return to Nashville next week.”

Tax revenue distribution:

If passed, the bill would impose a 10 percent tax on revenue from sports betting and could mean a significant source of revenue for both local and state programs. The taxes collected would reportedly be distributed as follows:

• 40% would go to the state general fund to be appropriated by legislators
• 30% would go to community and tech colleges
• 30% would go to local governments, which would be required to use half of the money for their respective school systems and the remaining half for local infrastructure projects

There are those who are against the idea, however, as Governor-elect Bill Lee (pictured below) voiced his opposition to legalized sports gambling while campaigning last year.

Opposition and allocation:

“I think the lottery shows and has had the most negative effect on the lowest-income citizens in our state, and I think that would have the same effect with sports betting. That’s why I’ve been opposed to it,” Lee said during a gubernatorial debate in Nashville,” as reported by WKRN.com in November.

Also commenting on the bill and the need for monies to be allocated to efforts to combat gambling addiction (if passed), Dr. Theodore Bender, Ph.D., Chief Executive Officer at Turning Point in Southaven, part of the Addiction Campuses network based in Nashville, said…

“It’ll be interesting to see if this bill passes if that increases the gambling problem in this country or it just stays the same and the money is just rerouted to different places.

“I would really hope that the lawmakers strongly consider putting money towards mental health and addiction treatment as a way to kind of help people who are struggling with this in the first place.”

Current sports betting landscape:

Since the May 14, 2018, invalidation of the Professional and Amateur Sports Protection Act (PASPA) by the United States Supreme Court, any state that wishes to can legalize sports betting.  To date, a total of eight states have full-scale legalized sports betting, including New Jersey, West Virginia, Rhode Island, Mississippi, Pennsylvania, New Mexico and Delaware, while bills have been passed in Arkansas and New York and Connecticut have put partial laws in place pending further action.

A further five states including Kentucky, Missouri, Ohio, and Virginia have bills pre-filed for this year’s legislative session.

Online casino solutions firm Gaming Innovation Group (GiG) Incorporated has announced that its GiG Games enterprise will be expanding its presence in Italy and Latin America after signing an agreement with fellow Maltese outfit Join Games AB.

Italy and Latin America expansion:

The St Julian’s-headquartered innovator used an official press release to detail that the deal represents its first such arrangement with an external games aggregator and is to see content from GiG Games offered to Italian iGaming firms such as Pixelo Srl, ScommesseItalia Limited and Microgame SpA as well as the Colombia-licensed domains at Wplay.co and Mijugada.co from the first quarter of next year.

Innovator is ‘very happy’:

GiG Incorporated declared that Colombia was the first Latin American nation to launch regulated online gaming while Join Games AB currently offers its services to approximately 95% of the nation’s market. The Oslo-listed firm’s Managing Director, Mathias Larsson, stated that he was ‘very happy’ to have inked the aggregation partnership as it ‘clearly shows the strength’ of his firm’s GiG Games vehicle ‘as a part of the GiG ecosystem’.

Larsson’s statement read…

“GiG Games’ sales strategy is to work with aggregators in markets where it doesn’t have a direct presence. Join Games AB is the perfect partner for us in Italy and Latin America due to its close connections with operators.”

‘Proud’ of partnership:

GiG Games recently received permission from the Gambling Commission regulator to offer its games to operators in the United Kingdom while Magnus Kolaas, Chief Executive Officer for Join Games AB, declared that his firm was ‘proud’ to serve as its ‘first external partner’.

Kolaas’ statement read…

“It clearly shows our strategy to work in close partnership with all our operators is the right way to go.”

Soon, customers of the Betsson (BETSB:Stockholm) family of brands will have access to the best and biggest lottery jackpots in the world, which will be a perfect complement to their already extensive portfolio of Sports Betting, Casino, Poker, Bingo and other games.

New lottery vertical:

According to a press release, the deal is a significant one for Lotto Warehouse as it sees the company listed on Nasdaq Stockholm and holding gaming licenses in 11 jurisdictions, embracing the exciting new lottery vertical.

Commenting on the landmark deal, Chief Executive Officer for Lotto Warehouse, Thomas Biro, said…

“Betsson are a hugely respected operator and we are pleased they saw the great potential of our offering.”

“We wanted to revolutionise one of the oldest gaming industries whilst giving players the opportunity to dream big. Today’s players are discerning ones – they want choice and they want customization. Lotto Warehouse offers all that and more by breaking down borders and offering the world’s biggest lotteries in one place,” added Biro.

An outstanding job:

General Counsel for The Multi Group, Mark Adams echoed Biro’s sentiments regarding the new agreement that will see the company provide services to Betsson Group. Adding that both the commercial and legal teams “have done an outstanding job to bring this deal together.”

Head of Gaming for Betsson Group, Joey Hurtado added…

“After a thorough search and review of different lottery providers, we felt that Lotto Warehouse’s great UI, excellent offering and outstanding business models were the best fit for Betsson Group and our players.”

Multiple licenses:

A B2B Lottery Betting provider for the iGaming industry, Lotto Warehouse is licensed by the Malta Gaming Authority and the British Gambling Commission.

Isle of Man-based software development company, Microgaming, recently inked a supply deal with the Swedish online casino and sportsbetting provider.

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On April 6th, Yggdrasil, a Malta-based globally-recognized iGaming provider, together with AceRun, a boutique studio that is part of the YG Masters Initiative, released Gold Fever, a gold mining-themed slot featuring a gold hunting adventure, specifically a gold miner looking for gold.

This slot is AceRun’s latest addition to the YG Masters portfolio, after the popular Book HOTFIRE slot.

Outstanding visual:

True to its name, the main theme of the game is the aforementioned gold miner and his adventure in the search for gold. Since historically, gold fever refers to a phenomenon when many miners excitedly search for gold in the same location, the main task of the player is to help their miner succeed in finding gold. The game takes place in a Wild West setting, during the California Gold Rush, in a sunset landscape with a few houses and a mountain range in the distance.

The slot is boosted by GATI, a powerful slot mechanic developed by Yggdrasil which provides its B2B partners an opportunity to acquire a legal, approved, pre-configured company development tool that allows them to quickly create innovative content followed by rapid distribution.

To win, players must form a combination of 3 or more symbols of the same kind on a payline that moves from left to right, beginning from the first reel on the left, on a new, dynamic 5×3 grid that offers 10 paylines.

The basic low-value symbols are 10, J, Q, K and A, the medium-value symbols are the ax and the wagon, while the bonus high-value symbols are the gas lamp and the gold piece. A combination of five-of-a-kind low-value symbols is worth 10x a player’s bet, increasing to 50x for five-of-a-kind medium-value symbols and 100x and 250x for five-of-a-kind high-value symbols.

The game has high volatility, with an RTP of 96%, a maximum win of 1079x a player’s bet, and can be played on any device.

Slot features:

Wild Symbol – a bearded miner with a bag of gold in his hands represents this symbol. It only lands in Free Spins, where its main task is to collect cash values from Dynamite Symbols.

Furthermore, its value is the same as the value of the highest paying symbol, if the player creates wins that contain just Wilds.

Dynamite Symbols – there are 7 different Dynamite Symbols available for the player to mix however they want to create regular ways, which pay 20x a player’s bet for a winning combination of 5 of them. Furthermore, the cash value of every symbol is 2x, 5x, 10x, 15x, 20x, 25x or 50x. These values are only relevant for Free Spins throughout the Collect feature.

Free Spins – a combination of 3, 4 or 5 Scatters rewards 12, 15 and 20 free spins respectively. The Wild applies to the reels throughout the feature. It collects all the cash values from the existing Dynamite Symbols each time it appears.

However, if several Wilds land, each collects existing cash values.

A combination of 2, 3, 4 or 5 Scatters in the Free Spins rewards an additional 3, 12, 15 or 20 spins.

Commenting on the launch, Stuart McCarthy, Head of Product & Programs at Yggdrasil, said: “One of the standout features of the YG Masters program is the diversity and breadth of our content, and we’re very pleased to roll out AceRun’s newest launch, Gold Fever.

“The exhilarating, straightforward gameplay offers players tantalising wins at every intersection during the bonus, making this a highly entertaining title.”

Jeroen van der Heijden, Head of Development at AceRun, added: “Exploring the hugely popular mining theme, we’re able to bring our own flavor to the genre with this game with our highly detailed art style and easy-to-understand bonus feature. We’re excited about the potential of Gold Fever and further harnessing the power of the YG Masters program.”

American media conglomerate Fox Corporation has reportedly filed a lawsuit against British iGaming behemoth Flutter Entertainment concerning its upcoming option on a 18.6% stake in prominent online sportsbook operator FanDuel Group.

According to a Tuesday report from American broadcaster CNBC, London-listed Flutter Entertainment spent approximately $4.2 billion in December so as to purchase a 37.5% stake in FanDuel Group and take its aggregate holding in the sportbetting firm up to around 95%. This arrangement purportedly came a little over a year after Fox Corporation was granted the option of buying an 18.6% share of the sportsbook operator from July for a prearranged price of $11.2 billion.

Complicating cooperation:

The broadcaster reported that this latter understanding was worked out at the same time as Flutter Entertainment, which was previously known as Paddy Power Betfair, inked a $6 billion all-stock deal to take over prominent iGaming firm The Stars Group Incorporated. This Canadian enterprise had purportedly partnered with Fox Corporation to launch the United States-facing FoxBet sportsbetting service that is currently available to punters in the states of Colorado, New Jersey, Michigan and Pennsylvania.

Annulling aspect:

However, Flutter Entertainment is now reportedly arguing that its takeover of FanDuel Group invalidated this earlier claim with Fox Corporation still able to acquire the 18.6% option but only if it agrees to pay ‘fair market value.’ Such a move could purportedly end up costing the Nasdaq-listed firm north of $25 billion considering that up to 19 American states could vote to legalize some form of online sportsbetting this year.

Litigious reaction:

Demonstrably upset at the alleged alteration to its terms and Fox Corporation reportedly filed a lawsuit before New York’s Judicial Arbitration and Mediation Services dispute resolution organization last week in hopes of getting the previously agreed price for the controversial option reinstated. The company purportedly declared that this arbitration came ‘by the consent of all parties’ and is its attempt ‘to enforce its rights to acquire an 18.6% ownership interest in FanDuel Group.’

Market maneuverings:

CNBC reported that this whole issue could be further complicated if Flutter Entertainment completes its plan to spin off FanDuel Group into a separately-traded entity before July. Such a move could purportedly see the 18.6% option attract a premium as the sportsbook operator holds a dominant position in three of the United States’ most lucrative online sportsbetting markets of Illinois, New Jersey and Pennsylvania.

Tangled ties:

As if all of this wasn’t enough, the broadcaster moreover reported that Fox Corporation has a ten-year option to buy half of the American assets of The Stars Group Incorporated, which would include the FoxBet sportbetting service. It has for months purportedly been pushing Flutter Entertainment to merge these holdings with those of FanDuel Group after giving it more equity in any newly-listed concern.

The long and frustrating journey has ended for the UK-listed betting exchange Betfair’s US division, as New Jersey issues it an exchange wagering license making it the first US state to do so with Monmouth Park taking the lead.

The New Jersey Sports & Exposition Authority’s (NJSEA) application for an exchange management license to Darby Development – Dennis Drazin-led and advisor to Darby Development LLC, operators of Monmouth Park – as well as an exchange services agent license to Betfair US was formally approved on Wednesday by the New Jersey Racing Commission during its latest executive session. An exchange wagering deal between the two parties two years ago already made Betfair handler of Monmouth’s advance deposit wagering site. While it took some time to get the necessary regulations approved in 2011 New Jersey passed its Exchange Wagering Act.

Approval of the license means that the first exchange wager for Monmouth could be handled as early as March 2016, which would be the culmination of Betfair’s long and expensive journey. The world’s largest Internet betting exchange spent $10m in an unsuccessful attempt to get industry stakeholders in California over their exchange wagering fear. Meanwhile, New Jersey’s Division of Gaming Enforcement director David Rebuck has not been shy about his desire to see the state’s casinos and racetracks offering real-money sports bets via online betting sites as well as land-based sports books. According to Rebuck, if the state’s rehearing with the Third Circuit Court of Appeals is successful and the federal ban on sports betting is overturned, steps to enable online wagering would be taken immediately by New Jersey. Rebuck said that while that is far from assured, the Court’s agreement to rehear the state’s case “is probably the first time that we had a small victory in our efforts to date,” Mr. Rebuck told Gambling Insider in an exclusive interview.

Rebuck added that he thought the drama surrounding daily fantasy sports wouldn’t be a distraction for the state’s pursuit of real-money sports betting and, “That’s the one we’re focused on. If we lose that again, and we’ll know soon, because the hearing could probably be in the next 90 days, then we’ll adapt and see what’s next on our horizon.”

Betfair’s good news comes on the heels of June signing of SB 443 by Nevada Governor Brian Sandoval and formal approval by the Nevada Gaming Commission, which paves the way for wagers from Nevada-registered business entities to be accepted by Nevada-licensed sportsbooks.

Editor’s note: Correctly attributed Rebuck quote to Gambling Insider.

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GVC will now have new gaming content to provide operators thanks to a new partnership with Pragmatic Play. Gaming content will be provided via the portfolio of Pragmatic with more than 80 HTML5 slot titles to be added to such brands as PartyCasino and bwin.

According to g3newswire.com, GVC will begin offering the portfolio of Pragmatic games in the initial phase to the sites stated above as well as at Gamebookers. Games to be added include such slot titles as Queen of Gold, Hot Safari, 7 Monkeys and Wolf Gold.

Head of Content at GVC, Andy Whitworth, commented on the new partnership by stating that the company is always looking for good quality casino game content for customers and they are delighted to add Pragmatic Play to the GVC fold. The company has been impressed with the performance of the slot games as well as regular delivery of games, all of which helps to keep up with the demand of players and stay ahead of competitors.

Pragmatic Play Head of Business Development Yossi Barzely commented as well stating that the company is very excited to have been able to reach an agreement with GVC and are confident that the games will be enjoyed by their customers.