Carl Brincat to Step Down As CEO of MGA as of January 2024

The Board of Directors of the Malta Gaming Authority (MGA) issued a statement to notify the general public that Carl Brincat, its Chief Executive Officer (CEO), will not be looking for a continuation of his existing contract, which will become invalid on January 25 next year.

Appreciation

mgaThe Board has expressed its gratitude to Dr Brincat, particularly for his outstanding leadership skills throughout his time as CEO. In this regard, Dr Ryan C. Pace, the chairman, said according to the official press release: “Carl has made extensive contributions to the Malta Gaming Authority and to the gaming industry in Malta and we are confident in, and very thankful for, the strong foundation he leaves behind as we continue to pursue the MGA’s strategic goals.” Additionally, Dr. Brincat said: “Leaving the MGA is a very hard decision to make. The past 9 years have been a rollercoaster of experiences which contributed to the person I am today, and it has been a privilege to lead the Authority for the past 3 years. Looking back, I am proud of the work that we have done together, and of the highly motivated team that surrounds me at the Authority. I look forward to continuing to deliver our commitments over my final few months, and have no doubt that my successor will find that the fantastic team at the MGA can help him or her continue to drive improvement further. I cannot wait to see what the future holds for the Authority.”

In terms of the individual who will succeed to the role of CEO and the responsibilities that come with it, the Board has a senior leadership succession plan planned specifically for this. On that note, it will officially send out a public call for applications for the aforementioned job. In addition, this entire planned process is intended to make sure an easy transition from Dr Brincat to the next CEO. However, the selected successor is expected to spend few weeks following Dr Brincat before officially starting his role on January, 26 next year.

Moreover, MGA stays devoted to reinforcing this essential sector in Malta and opening up the latest opportunities for excellence and innovation.

Sigma Europe’s Malta Week

From November 13 to November 17, Sigma Europe’s Malta Week 2023 festival will officially begin. During this festival, various global leaders will gather together for conference, convergence of expo and good old-fashioned networking. Additionally, the said festival will take place in the Mediterranean Maritime Hub (MMH), a bigger, more active location that is known for its industrial, raw and unconventional space compared to other venues.

Source: “Carl Brincat to hand over the reigns at the MGA”, Sigma World News, October 27, 2023

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Illinois Gaming Board Approves Three Casino Licenses

illinois-approves-casino-licenses-as-dgc-drops-online-wagering-bidThe Illinois Gaming Board, the government body responsible for regulating gambling in the American state, has announced that three land-based casinos have received licenses to operate in Danville, Carterville and Chicago.

Moreover, at the meeting of the Illinois Gaming Board in the last week of October, the Argosy Casino Alton was granted an extension on its already existing license so it will continue to operate for another four years.

The casinos that received the three licenses are Golden Nugget Danville, Walker’s Bluff Casino Resort and Bally’s Chicago. The license applications were put to the vote of the Board, but before that each of the casino representatives was given the chance to present the highlights of their operations and the future plans.

Along with the license for Bally’s Chicago, the company that operates that casino also received approval to operate a temporary casino at Medinah Temple for a total of 36 months while its permanent venue is under construction in Chicago.

Marcus D. Fruchter, the Administrator of the Illinois Gaming Board, made a quick recap following the meeting and underlined that the Board has licensed five new casinos since November 2021, with the respective venues located in Rockford, Waukegan, Danville, Carterville and Chicago.

The Illinois Gaming Board Administrator described this period as one “of unprecedented growth and expansion” and reminded the public that the government body remains “steadfast in its commitment to ensuring the ethics, compliance, integrity, safety, and transparency of Illinois gaming.”

New Video Gaming Rule

Marcus D. Fruchter also announced that the Joint Committee on Administrative Rules has adopted Video Gaming Rule 1800.1750, which had previously been adopted by the Illinois Gaming Board in April 2023. The new rule requires all operators licensed in Illinois to post responsible gaming signage in all video gaming locations. Casinos and sportsbooks were already required to do this in Illinois.

The Illinois Gaming Board also announced that it has completed a study on undue economic concentration in the video gaming industry in the American state. The respective study was completed by Christiansen Capital Advisors and its findings will be used by the Board to refine and adapt its regulations in order to keep the gaming market in Illinois innovative and competitive.

“Complex and important issues surrounding undue economic concentration have been largely unresolved since passage of the Video Gaming Act in 2009, and this study is an important step for the IGB’s work in this space,” Marcus D. Fruchter explained.

Source: “Argosy Casino Receives Four-Year License: Illinois Gaming Board Approves Three Casino Licenses“. RiverBender. October 26, 2023.

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New Horizons for Finnish Gambling, Preparing for Market Liberation!

finlands-liberalised-and-regulated-gambling-market-is-expected-to-open-in-2026Another amazing piece of news resonated in the industry after it was announced that another ever-popular iGaming market wants to introduce new rules!

Namely, Finland’s Ministry of Finance has set its sights on reshaping the country’s gambling terrain. Their vision entails the liberalization and limitation of the Finnish gambling market, indicating a new era of chances for both players and operators. The launched timeline implies that this transformation is predicted to occur in 2026.

Legislative Evolution

The central goal of this step is mitigating the dangerous outcomes associated with gambling activities and optimizing the channeling rate of the gambling system. That is why Finland’s governance has undertaken a transformative journey.

The plan of legislation involves the division of the state-owned operator, Veikkaus, into distinct business parts. While one will possess its lottery game monopoly, another will enter the occupied arena of online sports betting and iGaming, where it will compete with other authorized operators.

This long-awaited shift comes as a battle against the black market that has flourished due to years of monopoly-driven gambling operations.

The Ministry of Finance commented on this move saying that the scheduled transformations contain diverse elements of the gambling ecosystem, including the licensing framework, permit fees, surcharges, tools for handling gambling routines, precluding of gambling-related damage, as well as the management and marketing of gambling activities.

A Collaborative Endeavor

To ensure the success of this enterprising task, a political steering group and an intersectoral working group have been called, featuring key ministries and authorities. The industry wants to manage the social importance of the licensing system, with special awareness of its influence on mitigating gambling-related harm.

Experts from various sectors will also be extensively consulted during the trial process.

The blueprint is set to culminate in the request of a government proposal to the Parliament during the Spring of 2025. The official launch of the licensed market is then anticipated to take place in early 2026. This coming changeover is poised to form a new gambling landscape in Finland, characterized by greater assortment and regulatory sophistication.

Velipekka Nummikoski, deputy CEO of Veikkaus expressed his opinion on this amazing move saying the following: ”It’s great that the project is progressing. This is the biggest gambling reform in the history of Finland, with an ambitious schedule. The government program has set clear starting points for the reform and it is good to proceed with them. Hopefully, a system will be created that effectively channels gambling into the licensed supply.”

Source: ”Finland’s Gambling Reforms Set For Implementation In 2026”. GamingInteligence. October 25, 2023.

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Cryptocurrency Segment Experiencing Slower Growth Compared to iGaming Industry

9m-2023-crypto-in-igaming-landscape-moderate-growth-amidst-fiat-riseSOFTSWISS, the established international provider of software and content for online casinos and sportsbooks, has released the results of its research which shows that the cryptocurrency segment has experienced slower growth compared to the entire iGaming industry in the first nine months of 2023.

The analysis conducted by SOFTSWISS was based on data collected from the over 530 online casino and sportsbook brands which are currently using the supplier’s online gaming platform. Moreover, the company also took into account the in-game currency conversion possibilities as SOFTSWISS clients are able to play fiat only games even when holding just crypto currencies in their balance.

The global iGaming market has registered constant growth during the first three quarters of 2023. The total amount of money wagered went up by 36.6 percent compared to the first nine months of 2022, and the number of bets have also gone up by 50 percent year-on-year.

However, cryptocurrency bets during the first nine months of 2023 registered an increase of just 18.7 percent compared to the previous year. Nevertheless, the number of crypto bets went up by 66.4 percent compared to 2022. The share of crypto bets in the total bets amount decreased by 4.3 percent, ending up at 28.5 percent.

The analysis conducted by SOFTSWISS also points out that the sums of crypto bets registered incremental growth from quarter to quarter since the beginning of 2022, but their share in the total bets sum decreased, mainly due to larger increases registered by the sums of fiat bets.

Andrey Starovoitov, Co-Chief Executive Officer at SOFTSWISS, underlined that cryptocurrencies are showing signs of weakness in other fields as well, such as fundraising, “where the third quarter showed its worst results since the end of 2020”. However, Starovoitov concluded that “the position of cryptocurrencies in iGaming could be evaluated as comparatively stable at the moment.”

Top 5 Most Used Crypto Currencies

SOFTSWISS also revealed which were the most used digital coins in the iGaming industry during the first three quarters of 2023. The top five doesn’t bring any surprises, it remains unchanged since the beginning of 2022 with Bitcoin dominating the market with a 74.9 percent share, Ethereum gathered 8.9 percent, Litecoin followed with 6 percent, Tether had 4.6 percent while Dogecoin wrapped up the top five with 3 percent.

Bitcoin also managed to register an increase of 3.9 percent in its share compared to the first nine months of 2022. Ethereum on the other hand lost 6.3 percent from its market share during the first three quarters of 2023.

Source: “9M 2023 Crypto in iGaming Landscape: Moderate Growth Amidst Fiat Rise“. SOFTSWISS. October 24, 2023.

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Relax Gaming Shares Its Future Plans When It Comes To Cementing And Expanding Its Presence In Italy

relax-gaming-boosts-team-with-key-promotion-amid-plans-to-boost-italian-footprint.Relax Gaming, the iGaming aggregator and developer, has worked hard to become what it is today, aka one of the flagship companies globally, by entering into a continuous expansion of its footprint in regulated markets around the world, and Italian regulated market is no exception. Additionally, the aforementioned Italian market has a lot of potential for the firm, and after the official debut of Money Train 4, Relax has become even more popular among Italian players.

In this regard, European Gaming spoke with Relax’s latest Director of Italy, Gianluca Crimaldi, about what the aggregator’s future plans are in Italy and how it will continue to improve itself when it comes to player satisfaction.

Strong reputation

During the interview, Gianluca noted what his main role will be now, since he’s now in charge of Relax’s reputation in Italy. In this regard, the company entered Italy in April of last year and was immediately presented with various opportunities when it comes to making a profit. There is also a strategy that the firm will follow, specifically created for the period until the end of the third quarter of the following year. Furthermore, Gianluca was kind enough to share the developer’s mission when it comes to Italy, which is to “provide a platform for engagement that not only drives differentiation but also entices land-based players to give the world of online a try for the first time,” which is very much important for this specific market because the retail space is the main branch for gaming here and most of the players are retail players.

With the official debut of the Dream Drop Jackpots and Money Train series, Relax has officially become well-known as a strong player here, as Italian gamblers are very responsive to what Relax has presented to them so far. All this led to the great success of Relax Gaming in Italy as mentioned above.

The launch of the final installment of the Money Train series with Betsson’s StarCasino brand

With Money Train 4 being the “key” slot game this year, according to Gianluca, its official debut with Betsson’s StarCasino brand in Italy just ahead of the game’s global debut, showcases Relax’s particular devotion when it comes to Italian players and partners.

Furthermore, the company is doing exceptionally well in Italy, and this is due to knowing when to push and when to pull back when it comes to opportunities and challenges, especially since the Italian regulated market is very complex thanks to country’s regulatory process and skepticism towards online casino. However, that is slowly and steadily changing, and Relax is a prime example of that.

However, what makes the aggregator truly unique in its success in converting players accustomed to land-based casinos and retail market to the online world of gambling is that it provides unique online slots with exciting stories, themes and features. In addition, since players were initially more attracted to classic slot titles, and now prefer modern ones such as the aforementioned Money Train 4, this in itself proves that Relax has become a very valuable asset in the Italian gaming industry.

Source: “Relax Gaming boosts team with key promotion amid plans to boost Italian footprint”, European Gaming, October 23

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