More stringent gambling industry conditions will come into play in Spain one day after a bill passed by the Senate is published in Spain’s Official State Gazette. Reforms of the Gambling Law of 2011 were introduced in May and passed the Chamber of Deputies in September before it was moved to the Senate.

The bill passed in the middle of last week with 146 votes in favor of the reforms and 113 Senators abstaining. A variety of amendments were rejected, including a 30% tax. All told, 22 amendments made their way into the reformed law.

The final bill was promoted as a way to “improve controls on sports manipulations, betting fraud and expand protections for problem gamblers.”

Among the changes is the creation of a “bad actors” database related to sports betting, advertising restrictions, and problem gambling policies. Many of the advertising restrictions were first introduced in response to residents in Spain staying home during the Covid pandemic and their exposure to excessive television and radio ads for gambling and sports betting services. Many restrictions were lifted but many were reintroduced in November 2020. The current reforms go even further and satisfy requests from the Ministry of Consumer Affairs to bring back the most restrictive advertising rules.

Advertising Reform

Advertising reform was proposed prior to the world health emergency.

Rules on advertising will bolster the Royal Decree on Advertising that came into force in 2021. Sponsorships were banned and gambling advertisements were only allowed between 1 am and 5 am on the radio and television. Further requirements will ensure that operators won’t claim that status, prestige, mental health, or economic stability can be achieved through gambling along with other socially responsible restrictions.

Directorate General for the Regulation of Gambling [Dirección General de Ordenación del Juego (DGOJ)], the Spanish regulator, will be allowed to establish a “Global Betting Market Research Service” to identify “persons involved in illicit gambling activities or betting/gambling related frauds”.

The “bad actor” database will not be restricted to use by the authority. Rather, the information will be available to police, licensed operators, regional authorities, and “all entities interested in eradicating fraud and manipulation of sports.”

Online Operators Subject to Certain Changes

Regarding online operators, players must be notified of safe and responsible gambling options when they first visit a website. These safeguards include information on self-exclusion, support helplines, and gambling control tools. Slots and casino game players will be required to set limits that can’t be changed for 24 hours. Those limits will include spending and session time.

A National Self-Exclusion database will be established for land-based and online gamblers in all 17 autonomous communities. The offshore Spanish communities of Ceuta and Melilla will also adopt the database.

Where the newly revised laws come down heaviest on operators is in the realm of dispute resolution. Operators who violate the newly revamped Consumer Law can be fined between €150 and €1m euro depending on the severity of the breach.

Source: Spain Sanctions Full Overhaul of Gambling Law, SBC News, October 28, 2022

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French gambling regulator, l’Autorité Nationale des Jeux (ANJ) has developed and made public some new specifications for how gambling promotions and deposit incentives can be offered in France.

The new directions reflect the ANJ’s more overarching review of gambling advertisement standards. The review is being done with the Professional Advertising Regulatory Authority of France (ARPP) and the country’s Audiovisual Communication Regulator, ARCOM.

According to a report in SBC News, as part of its agenda for 2022, the ANJ let operators know at the start of the year that the regulator intended to revamp guidelines on “gambling’s commercial offers involving financial rewards such as welcome offers, bonuses or free bets.”

In the most recent announcement, the ANJ stated: “Less than a month before the opening of the Football World Cup, the ANJ wishes to improve the transparency of these practices and moderate them to protect players at risk.” It continued, “An update is deemed necessary to offer consumers full transparency on rewards and incentives offered by licensed operators, in which ANJ stated that “specific guidelines are required to improve market standards”.

Consumer Safeguards and Commercial Transparency

Consumer Safeguards and Commercial Transparency are reportedly the areas of focus for the guidelines.

Regarding the latter, the ANJ has prescribed certain elements of fact that should be displayed whenever an offer or incentive is made available through promotion.

Some of the requirements include a statement of the offers duration, a description of the required deposit amount and any wagering requirements, whether the offer can be claimed as game credits or real money, and other conditions that must be met in order for a player to complete and make use of the offer.

The ANJ noted that terms such as “free” can be confusing to some players if the terms are not made clear. The regulator said in a statement that it is contacted on a regular basis by customers who claim the terms are not spelled out clearly and become the cause of many disputes between players and operators.

Operators now must make readily available transparent and legible terms and conditions and ensure that players have complete access to the terms and conditions of an offer.

Monitoring Promotional Offers

Regarding the former area of concern, Customer Safeguards, the ANJ stated that it is monitoring the types of bonus offers made available to customers and potential clients and would seek to moderate commercial offers. Operator promotional strategies and action plan to prevent problem gambling will be reviewed on an annual basis at a minimum.

“The ANJ emphasizes that the reasonable nature of these welcome or loyalty offers will be the subject of particular attention,” read the report.

Self-excluded players and customers that show signs of gambling problems should not be sent any offers and operators were cautioned to exercise vigilance so that doesn’t occur.

Players must be able to opt out of receiving any gambling offers even if they don’t self-exclude. Welcome offers should be limited to no more than €100.

The new guidelines are not meant to be enforced directly until they become market rules by next year. However, the regulator informed operators it will intensify monitoring to ensure the guidelines are being followed to improve safeguards and standards in the French gambling industry.

Source: ANJ to toughen rules on player rewards and bonuses, SBC News, October 27, 2022

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A woman attempted to steal a baby from the rightful mother at Harry Reid International Airport. She was released from jail this week following an arrest on Friday.

The suspect, identified as Amanda Yates, was charged with violating airport rules, KLAS, a local TV station, reported. No charge was brought for kidnapping, the report said.

Yates had gone up to the baby and mother in Terminal 3, and told the mother that the baby was “cute.”. The suspect then went closer to the child. Soon, Yates apparently tried to take the baby.

Give me my f******* baby b****,” Yates demanded from the actual mother, according to a police report.

When speaking with officers, Yates later told them, “That is my child, I swear,” the report added.

Yates was apprehended and taken to the Clark County Detention Center. She was released on her own recognizance. She is scheduled to appear in Las Vegas court in December.

The child apparently escaped any injury.

Earlier that day, Yates had been screaming at arriving passengers, police said.

Prior Airport Disruptions

In an unrelated arrest in August, the airport was the scene of two much-publicized incidents which led to confused and agitated travelers.

Stefan Hutchison, 33, of Carmichael, Calif., took part in Aug. 13 and Aug. 14 disruptions at the airport. He was charged with violating airport rules, resisting arrest and burglary, police said.

In the first incident, Hutchison got past a TSA security checkpoint.

The second day he created loud noises when line dividers were pushed to the floor.

The noises frightened many airport travelers. They mistakenly thought it was the sound of gunfire.

Fake Bomb Threat at Airport

Also, a man, Sergio Magana, 36, claimed to have a bomb at Harry Reid International Airport on Aug. 25. It turned out to be a fake.

The device was actually an aerosol can wrapped with duct tape, according to the Las Vegas Metropolitan Police Department (LVMPD).

Later, Magana was charged with possession of a hoax bomb, communicating a bomb threat, and destroying property worth up to $5,000.

His bail was set at $5,000 and he remains in the Clark County Detention Center this week. If released, Magana must not return to the airport.

Eventually, he stopped the car on the airport’s tarmac.

Upon his apprehension, Magana told police, “People were after me, and I came looking straight for you,” a police report said.

Later, he told the police he was getting threatening looks from those connected to a “cartel” while working at a convenience store on Pecos Road.

As police questioned Magana, he revealed to them he formerly was a fleet agent for Southwest Airlines and had worked at Harry Reid airport. Police said the damage estimate to the gate totaled about $30K, the Review-Journal said.

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International Game Technology (NYSE:IGT) recently repurchased 1.35 million, or about $22 million worth of its own stock.

The buyback activity occurred across three transactions from Sept. 30 through Oct. 14 in amounts of 765,300, 289,735 and 298,580 shares, respectively. The minimum price the slot machine manufacturer paid was $15.01 and the highest price it paid for its stock was $18.37, according to a Form 6-K filing with the Securities and Exchange Commission (SEC).

IGT announced that it has repurchased the following number of its ordinary shares pursuant to its share repurchase program, details of which were announced on November 16, 2021,” according to the regulatory document.

In November 2021, IGT revealed plans for a $300 million, multi-year share repurchase program. That’s the first buyback plan in the company’s history, and arrives a week after the maker of the popular Wheel of Fortune slot machines said it’s reinstating its quarterly dividend of 20 cents a share.

The UK-based gaming technology company provides back-end services and solutions for lotteries and sportsbooks around the world, and also manufacturers slot machines.

IGT Also Buying Back Debt

The gaming device maker has been active in repurchasing its various securities. Last month, the company announced plans to buy back up to $500 million worth of its outstanding corporate debt.

By removing debt from the market, the company is saving on interest expenses — a valuable trait at time when interest rates are rising. Via share buybacks, IGT’s shares outstanding tally shrinks, potentially boosting its earnings per share in the process.

IGT’s debt reduction and balance sheet-firming efforts are relevant for another reason. As the company’s liabilities decline, it positions itself for a better credit rating. Currently, IGT carries a junk grade, but if its balance sheet improves, it becomes a candidate for an investment-grade rating. Companies with those marks earn the benefit of lower financing costs.

Other Catalysts for IGT

Although its stock is down 35.07% year-to-date, IGT is a catalyst-rich story and that includes the aforementioned debt and share repurchase efforts.

IGT is also actively working to reduce its debt burden and bolster cash flow, efforts that could be enhanced by the streamlining of its iGaming and sports betting businesses. Additionally, forming a dedicated outfit for those units could be well-timed, because the move is occurring at a moment of exponential growth in those industries.

There’s some speculation in the investment community that could ultimately lead to a spin-off of the newly formed online casino/sports betting subsidiary, which could unlock value for investors.

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