You are here: Home / Archives for Gambling News

Soft2Bet Reveals Focus on Gamification Features

soft2bet.Soft2Bet, the powerful international supplier of platforms for online casinos and sports betting websites, has decided to detail its strategy regarding gamification features as a key component of the iGaming industry.

Yoel Zuckerberg, Chief Product Officer at Soft2Bet, described gamification as “more than a “nice-to-have” item for iGaming companies, the executive explained that gamification “drives substantial revenues and enables iGaming companies to keep up with technological advances.”

Soft2Bet, a company that also owns and operates ten different online gaming and betting brands, revealed that gamification has been a priority for them “from day one.” The company calls it “Motivational Engineering” and explains that technology is a key component which drives growth in the iGaming industry.

The supplier also revealed that legacy platforms which lack innovation could cause the industry to fall behind. To prove its claims, Soft2Bet gave the example of Betinia, its own brand that operates in Denmark and Sweden, two very competitive markets that also require strong regulatory compliance.

During the past twelve months Betinia recorded an increase in gross gaming revenue of 65 percent when compared to non-gamified brands. Moreover, the features adoption rate was 60 percent, demonstrating a strong engagement from players.

Soft2Bet also revealed that almost half of the players who engaged with the gamification features ended up depositing bigger amounts of money and also deposited with a frequency that was 30 percent higher.

Other key metrics also revealed improvements: average revenue per user went up by 70 percent for half of those who engaged with the gamification features, while the gross gaming revenue increased by more than 60 percent compared to those who did not engage with the features.

Fully Integrated

Soft2Bet made sure it integrated the Motivational Engineering technology fully in its Player Account Management system, delivering an easy to use and comprehensive gamification solution for its online casino operator partners.

The integration with their online casino platform is seamless, making the features easy to deploy from the back office. The platform also comes with gaming content created by a dedicated games studio, a payment gateway and solutions that are tailored both for online casino operators and retail venues.

Soft2Bet has received plenty of awards as recognition for their innovative work in the past. The company was awarded Best Online Product of the Year at MIGEA Awards 2021, Online Casino Provider of the Year and Platform of the Year at Sigma Awards, White Label Supplier of the Year at SBC Awards 2021, Workplace of the Year at Sigma Americas Awards, Highly Commended at EGR Nordics Awards 2022, and also the White Label Supplier of the Year at Starlet Awards.

Source: “Soft2Bet’s gamification features combine innovation with modern technology“. European Gaming. November 9, 2023.

The post Soft2Bet Reveals Focus on Gamification Features appeared first on Casino News Daily.

Filed Under: Gambling News Tagged With: , , , ,

Court Voids Nassau Coliseum Lease Transfer for Sands New York Casino Plan

A New York State Supreme Court justice Thursday annulled a previously agreed to lease transfer of Nassau Veterans Memorial Coliseum in Uniondale, NY — the site where Las Vegas Sands is looking to construct a $4 billion casino hotel.

Sands Long Island
Nassau Coliseum. A New York State Supreme Court justice voided the county’s lease transfer agreement with Las Vegas Sands. (Image: LongIsland.com)

In May, the Republican-controlled Nassau County legislators voted 17-1 in favor of granting Sands a 99-year lease to develop county-owned land on the Nassau Hub site. Sands revealed in January that its quest for a New York City-area gaming license would be centered on Nassau County. This year, Sands has paid $241 million to the former lease holder, Nassau Live Center LLC, as well as $54 million to the county as required by the lease accord.

Sands’ effort to procure one of the three yet-to-be-awarded New York City-area casino permits is widely supported by Nassau County politicians of both parties and the plan is mostly favored by vocals, but Hofstra University is a vocal critic of the proposal.

In April, the university, which is located near the Coliseum, sued Nassau County, alleging county officials held talks on the Sands casino without informing the public of those discussions. If true, that violates New York’s open meeting laws.

Hofstra has demonstrated that the failure to post the resolution was not merely technical, but rather was ‘an attempt to avoid public scrutiny’ of the proposed lease transfer,” wrote Justice Sarika Kapoor in her decision.

Sands said the ruling doesn’t affect its New York plans nor does it believe the decision will impact its odds of winning a gaming permit in the state.

Nassau County Has Some Work to Do

In her ruling, Kapoor asserted that Nassau County focused more on the technicalities of the Coliseum lease transfer to Sands and less on allowing public comment on the issue and how a gaming venue could affect nearby communities.

Sands has touted the job-creating potential of the proposed gaming venue and its ability to bolster receipts for Nassau County and the state. The company has also highlighted plans to lure convention business to the hotel, entertainment and restaurants — traits that diminish the argument that it would be a gaming-centric establishment.

However, the Say NO to the Casino Civic Association, a group opposing the Nassau County casino effort, argued that not only have locals not had their voices heard, but a gaming venue could increase crime, environmental harm and traffic. The group is calling for environmental and traffic impact studies to be conducted following the Supreme Court ruling.

In her decision, Kapoor noted because the county “engaged in improper segmentation by not considering the future development planned by Sands, the Court finds that the Nassau County Legislature did not take the requisite ‘hard look’ at the relevant areas of environmental concern raised by the lease transfer…”

A traffic study has yet to be conducted, and Sands chose to focus its New York efforts on Long Island to avoid contributing to motor vehicle congestion in Manhattan. In August, Sands submitted a land-use application to Hempstead — one of the towns that could be affected by the casino hotel — and that town is conducting an environmental impact review as required by state law.

Ruling Adds to Already Chaotic New York Casino Process

In 2022, New York lawmakers approved three downstate casinos — a decision that has lured some of the industry’s biggest names to the fourth-largest state to try their luck. Since then, the process has become increasingly hectic.

It was originally expected that regulators there would decide on the three winning bidders in 2024, but some analysts believe that decision will be pushed off to 2025. Additionally, bids by MGM’s Empire City Casino in Yonkers and Genting’s Resorts World New York in Queens could be hampered by former executive Scott Sibella’s alleged role in an illegal sports betting ring.

Thursday’s court ruling on the Nassau County lease transfer adds to the chaos. The Say NO to Casino Civic Association views the decision as a warning shot for other New York casino efforts.

“New York State officials should take note of this ruling by Judge Kapoor when making decisions on awarding the gambling licenses, as it highlights (Nassau) County Executive (Bruce) Blakeman’s contempt for his own constituents, and his blatant disregard for federal, state, and even county laws, as well as the right of every Nassau County resident to understand the wide-ranging, long-term impacts that this massive project will have on our way of life,” according to the group.

The post Court Voids Nassau Coliseum Lease Transfer for Sands New York Casino Plan appeared first on Casino.org.

Filed Under: Gambling News Tagged With: , , , , , , ,

Sega Sammy Buying GAN for $84 Million

Sega Sammy Creation (SSC) , the Japanese company known primarily for its footprint in arcade and video games, is acquiring sports betting technology firm GAN Ltd. (NASDAQ: GAN) for approximately $84.4 million.

Gan stock
GAN stock advertised at the Nasdaq market site. The company is being sold to Japan’s Sega Sammy. (Image: Nasdaq)

The deal values the software provider at $1.97 a share, or a 121% premium to where the stock closed today. GAN investors are scheduled to meet in the first quarter to vote on the transaction, which could be finalized by the fourth quarter of 2024.

If the merger is approved by GAN’s shareholders and is completed, all outstanding GAN ordinary shares will be acquired for $1.97 per share in cash; GAN’s ordinary shares will no longer be subject to public reporting requirements under the Securities Exchange Act of 1934; and its ordinary shares will no longer trade on any market. Upon completion of the merger, GAN will become a wholly owned subsidiary of SSC,” according to a statement.

GAN’s board of directors formed a special committee, comprised exclusively of independent directors, to consider and negotiate the offer. The gaming technology company was advised by investment bank B. Riley.

Sega Sammy Buy Ends GAN Downward Spiral

UK-based GAN went public in the US about three and a half years ago as sports wagering equities were taking the investment community by storm.

At that time, enthusiasm for sport betting stocks was at a fevered pitch — a point proven by GAN pricing its initial public offering (IPO) at $8.50 and flirting with $13 on its first day of trading. From there, the stock ripped higher, eventually approaching $32 a share in February 2021, but from there, a prolonged slump ensued, resulting in today’s closing price of 89.1 cents. The stock has shed 43.91% of its value over the past 12 months.

“Formerly GameAccount Network, GAN provides enterprise SaaS solutions for online casino gaming and sports betting applications, namely its GameSTACK internet gaming platform,” according to Renaissance Capital, an IPO research firm.

What Sega Sammy’s plans are for GAN remain to be seen. The Japanese company currently has no direct exposure to the regulated sports betting market in North America, but that segment is highly tech-dependent, indicating the buy prove astute.

GAN Sale Not Surprising

GAN’s sale isn’t surprising. Earlier this year, the Irish company GAN announced a strategic review “to evaluate options available to hasten our path to better profitability metrics and a more attractive return profile.” Such reviews often lead to sales.

Additionally, the sale to Sega Sammy isn’t surprising because that company previously took over a term loan from GAN creditor Beach Point Capital. Sega Sammy extended lower interest credit to GAN as part of that transaction.

“After a thoughtful review of value creation opportunities available to us, we are pleased to have reached this agreement with SSC,” GAN interim CEO Seamus McGill in the statement. “Market share concentration in the U.S. B2C space, a slower than expected adoption of regulated online gaming in the U.S., along with changes to key customer contracts make the near-term operating environment challenging without ample capital resources. Sega Sammy has those resources and GAN is a strategic complement to their existing gaming portfolio. We believe this all-cash offer, at a substantial premium to recent trading prices, is the value-maximizing path for our shareholder.”

The post Sega Sammy Buying GAN for $84 Million appeared first on Casino.org.

Filed Under: Gambling News Tagged With: , ,

SoftGamings’ Platform Granted B2B Certification for Italy

softgamings-to-conquer-italy-thanks-to-b2b-certificationSoftGamings, a forward-thinking provider of feature-rich Turnkey platforms, White Label platforms, Self-Service solutions, and Bitcoin casino solutions is happy to share another important milestone. Demonstrating a high level of commitment to delivering the highest quality online casino products, the company was crowned with B2B certification for Italy.

With this significant acknowledgment, local operators are given the opportunity to utilize the operator’s cutting-edge platform. Thanks to this, Italian players will be able to explore the most entertaining content delivered by the industry’s most creative suppliers.

Equipped with over 10,000 games from 250+ premium providers, SoftGaming truly deserves to be ranked as a leading brand in the sector. Evolution, Kalamba Games, Yggdrasil, Wazdan, Push Gaming, BGaming, Big Time Gaming, and All41 Studios are just some of the many producers whose games are part of the gigantic portfolio.

Trusted Partners and Exceptional Solutions Provider

As mentioned above, this accreditation gives SoftGamings a chance to offer the entire palette of its products to companies operating in Italy. This includes not only white-label and turnkey solutions, but dynamic self-service and other products and services as well.

Commenting on the certification, Artem Ustinov, Head of White Label and Turnkey Solutions at SoftGamings, announced:

“We’re eagerly anticipating fruitful collaborations with Italian B2B companies with new certification for Italy. We strive to provide an iGaming market with exceptional software solutions that will drive the growth of online casino enterprises. Through the new partnerships, we can further enhance our reputation as a trusted and proficient partner within the iGaming industry”.

Worth adding is that in the upcoming period, SoftGamings’ Platform unique API will become available to Italian B2B companies. Packed with premium-quality content, this platform enables seamless integration with the biggest names in the content production sector.

A Year Marked with Multiple Successes

Although there are more than 50 days until 2024 announces its presence, based on the achievements reached so far, it’s more than obvious that 2023 was a year full of success for the company.

The end of April brought certification of compliance with Romanian National Gambling Office (ONJN) standards, allowing SoftGamings to enter one of the most attractive iGaming markets in Eastern Europe.

In July, the provider was granted an E-Class license from the Belgian Gambling Commission. A bit over a month later, the supplier received a certificate from the Hellenic Gaming Commission. On top of that, SoftGamings received the Best Platform of the Year Award at the Eurasia Awards 2023.

Attending Renowned Conferences

In February, the company attended ICE London 2023, a large conference visited by 650 brands from 150 countries. Giving valuable insight into the industry trends and innovations, this exhibition helps companies cement their position in existing and set foot in new markets.

June was marked with the SiGMA Americas conference, held in association with the Brazilian iGaming Summit. This event brought corporations a unique chance to take a closer look at the rapidly expanding market of Latin America. During the same month, the provider attended the 2023 Canadian Gaming Summit, an event described as a premier iGaming conference in Canada.

Other notable exhibitions include SiGMA Asia 2023, iGB Live Amsterdam 2023, Entertainment Arena Expo in Romania, SiGMA Balkans/ CIS, and G2E Las Vegas 2023. From November 13-17, 2023, the company will showcase its cutting-edge solutions on SiGMA Europe, which will take place in Malta.

Source: “SoftGamings’ Platform Earns Italian B2B Certification”, SoftGamings, November 1, 2023.

The post SoftGamings’ Platform Granted B2B Certification for Italy appeared first on Casino News Daily.

Filed Under: Gambling News Tagged With: , , , ,

3 Oaks Gaming Signs Agreement with NetBet and Expands Global Reach

3-oaks-gaming-bolsters-international-reach-through-netbet-partnership3 Oaks Gaming, the fast-growing distributor of iGaming content for online casinos, has announced that its international reach has further expanded following the signing of an agreement with NetBet, a powerful operator of online casinos and sports betting websites.

The agreement allows 3 Oaks Gaming to enter key regulated markets such as Mexico and Italy, where NetBet has a strong presence. The deal will see NetBet gain access to the extensive portfolio of games offered by 3 Oaks Gaming, including Goddess of Egypt, Little Farm, 3 Hot Chillies, and 777 Coins. The last three titles have the Hold and Win feature, one that has become quite popular among online casino players.

NetBet is a powerful international brand which is licensed in Malta but also operates in regulated markets such as Romania, Italy, France, the United Kingdom and Mexico. It started out in 2001 and offers a wide range of content, from online casinos and sportsbooks to lotto, live casino and poker.

3 Oaks Gaming on the other hand is a rather young company, it was founded in 2021 and since then it has gradually expanded its reach through partnerships with online casino brands such as Favbet, Cosmolot, Vbet, Betlive, Slots City and Pin-Up Casino. The supplier also has agreements with providers of turnkey casino platforms. One of these partnerships was signed in November 2022 with EveryMatrix, one of the biggest suppliers of online casino platforms.

A Pivotal Moment

Speaking about signing the partnership with NetBet, Sebastian Damian, Managing Director at 3 Oaks Gaming, described it as “a pivotal moment” for the company, because it enhances its standing in Europe but also manages to expand its footprint in Latin America.

In fact, 3 Oaks Gaming already had a presence in Italy thanks to an earlier deal with Tuko Productions, so the agreement with NetBet will only solidify that presence. As for Mexico, the company will make its debut on this key Latin American market thanks to the agreement with NetBet.

Sebastian Damian declared himself confident ahead of the debut on the Mexican market: “We firmly believe that our meticulously designed titles will captivate and engage players, offering them an immersive gaming experience.”

Source: “3 Oaks Gaming bolsters international reach through NetBet partnership“. 3 Oaks Gaming. October 31, 2023.

The post 3 Oaks Gaming Signs Agreement with NetBet and Expands Global Reach appeared first on Casino News Daily.

Filed Under: Gambling News Tagged With: , , , , , ,