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Curacao Issues First iGaming Licenses Under New Regime

first_license_issued_by_curacao_gaming_control_boardThe Curacao Gaming Control Board, the government body in charge of regulating iGaming in the region, has announced it issued its first licenses under the new regulatory regime that came into effect last year.

Among the entities receiving licenses we can find White Star, a brand that is part of the Rhino Entertainment Group, which secured a new license for its CasinoDays online casino brand. At the same time brands such as Games and More, Geeka Corporation and Small House have received Digital Seals from the Gaming Control Board.

The confirmation of the licenses being issued comes just twelve weeks after Curacao launched its new licensing process, with applications being received starting the first day of November 2023.

The licensing portal has been processing new applications under existing legislation, asking all licensees to submit applications if they want to keep operating after the new National Ordinance for Games of Chance gets approved. Once that new legislation comes into effect, the Curacao Gaming Authority will take control of the licensing process and of the whole regulatory side of the iGaming business in the region. The new law was submitted to the Curacao Parliament for approval in December 2023.

A Transformative Period

Cedric Pietersz, the Managing Director of the Curacao Gaming Control Board said that “2024 heralds a transformative period in the regulatory landscape of Curacao’s gambling sector” and revealed that the volume of applications for licenses “far exceeded” the regulator’s expectations.

“White Star’s license holds a special place in our hearts and history,” the Managing Director continued. “It signifies a pivotal moment for Curacao’s evolution into a top-tier gambling jurisdiction with many more licenses in process.”

Ross Parkhill, the Chief Executive Officer of the Rhino Entertainment Group, added that being the first entity to receive such a license represents “a privilege” for his company and also a recognition of its “commitment to excellence and responsible gaming.”

The Chief Executive Officer added that his company “wholeheartedly” supports the new regulatory process that is being implemented in Curacao, underlining that it brings “added value and prestige” to the online casino’s license.

Source: “First License Issued By Curacao Gaming Control Board Under New Regime”. European Gaming. February 5, 2024.

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Indiana iGaming Revenue Could Exceed 2 Billion Dollars Within Three Years

A report commissioned by the Indiana Gaming Commission and conducted by Spectrum Group has found that the iGaming industry in the state could be able to generate revenue of up to 2.1 billion dollars over the first three years after legalization.

The report’s detailed prediction was that the iGaming sector could bring in between 1.9 and 2.1 billion dollars in revenue. This prediction is 5 percent more optimistic than what was revealed in the 2022 report.

The study has also pointed out that iGaming tax revenue over the first three years following legalization could amount to 929 million dollars for the state of Indiana. That prediction also represents a 5 percent increase on the estimations of the previous report.

The introduction of legal online gambling has been discussed for a long time in Indiana, with opponents claiming that online casinos would affect the activity of the long-standing land-based casinos in the state. However, the report claims that iGaming did not have a negative impact on other forms of gaming in other American states where it was introduced.

Despite the data provided in the report, chances for the legalization of online gambling in Indiana appear slim in 2024 because state legislators have agreed not to bring in any new proposals to this respect this year.

Lacking iGaming Legislation

The online sports betting industry has grown at a fast pace during the past few years in the United States, with online sportsbooks now legal in nearly half of the American states. However, iGaming has not been accepted on such a large scale, currently online gambling is legal in just seven states.

The lack of legislation for iGaming has prompted a major player such as WynnBet to close its operations in a number of states in August 2023. That left the major casino operator with activities just in Nevada in Massachusetts, where it owns land-based properties.

The chances of iGaming being introduced in New York also appear unlikely in 2024 after Governor Kathy Hochul has not introduced online gaming in the executive budget for 2025. However, state senator Joseph Addabbo did file a revised iGaming bill last week.

The example of the states that have introduced legal online gambling does provide some interesting data, though. Pennsylvania, for example, saw iGaming help its industry to reach a new gambling revenue record in 2023, a total amount of 5.7 billion dollars.

The iGaming sector attracted gross revenue of 1.5 billion dollars across the United States in the third quarter of 2023, an increase of 26 percent year-on-year and an all-time record for a single quarter.

Source: “Report finds Indiana igaming revenue could exceed $2bn within three years“. iGaming Business. January 19, 2024.

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Revised New York iGaming Bill Filed by State Senator

Joseph Addabbo, a state senator from New York, has introduced a new version of a bill that, if approved, would legalize online casino gaming and internet lottery in the Empire State.

Senate Bill S8185 was tabled on January 11 and it has been referred to the committee for racing, gaming and wagering within the New York Senate. Senator Joseph Addabbo has previously attempted to have a similar bill approved, Senate Bill S4856 in early 2023, but it failed to pass.

The new bill includes, among other important aspects, information regarding the eligibility for licenses in the state. According to the bill, land-based casinos from New York are eligible to get licenses to operate online casinos. At the moment the state of New York has four upstate casinos and another three downstate that are currently in development.

The three racetracks that operate in the state are also eligible for iGaming licenses. These racetracks are operated by the St. Regis Mohawk Tribe, the Seneca Nation of Indians and the Oneida Indian Nation of New York.

Three More Licenses

The bill also stipulates that three additional online casino licenses will be awarded through a bidding process. Applicants will need to commit to an affirmative action programme and each operator that eventually gets a license will have to pay a one-time fee of 2 million dollars.

The proposed legislation also states that live dealer studios that supply content to casinos licensed in the state must be located within the borders of the state of New York. Moreover, suppliers of live dealer games must enter into a labor agreement with a union. If the bill would pass into law then it would come into effect right away.

Internet Lottery Rules

The bill also proposes rules for internet lottery, allowing customers in New York to play joint, multi-jurisdiction and out-of-state lottery games online. This actual access to the lotteries could be done either through a mobile device or desktop computer. Senate Bill S8185 also states the New York State Division of Lottery would be in charge of overseeing sales of tickets online.

When it comes to taxes on iGaming activities, the bill sets a tax of 31.5% of gross gaming revenue for all license holders. Then the state will give a portion of 11 million dollars of the taxes collected to the Commission and the Office of Addiction Services and Supports in order to fund gambling addiction treatment.

Aiming To Replicate Sports Betting Success

The state of New York is looking for a repeat of the success registered by online sports betting. Almost two years ago the state launched legal internet sports betting, with the regulated market opening on 10 January 2022. Since then it has grown significantly and has become the largest market in the United States.

Moreover, in December 2023 a new state revenue record was set as operators managed to generate 188.3 million dollars in online sports betting revenue. The previous record for the state of New York was set in October 2023, with 166.3 million dollars. In November 2023 the state also reported a new record when it comes to internet sports betting handle: 2.11 billion dollars, an all-time high for the state but also for the entire United States.

Source: “Addabbo files revised New York igaming bill“. iGaming Business. January 12, 2024.

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Michigan iGaming Operators Report Record-Breaking November Revenue

The Michigan Gaming Control Board, the regulator in charge of the gambling and sports betting market in the American state, reported that the licensed operators it oversees managed to generate solid revenue in November 2023.

According to the state regulators, commercial and tribal operators in the Great Lakes state reported a total of 209.2 million dollars in revenue (gross receipts and gross sports betting receipts) in November. The result marks an increase of 1.9 percent compared to October 2023.

The iGaming sector was the one that caught the eye with gross receipts of 175.3 million dollars, the highest number to date. The previous record was 171.8 million dollars and it was recorded in March 2023. In October 2023 gross receipts from online casinos amounted to 160.3 million dollars.

Gross sports betting receipts for November 2023 amounted to 33.9 million dollars, a sharp decrease from the 45 million dollars that were generated by this sector in October 2023.

Combined total adjusted gross receipts for November were 158.1 million dollars, with almost the entire sum coming from iGaming: 157.8 million dollars, while sports betting only accounted for 294,810 dollars. The adjusted gross receipts figures show an increase of 9.4 percent for iGaming and a drastic decrease of 98.7 percent for online sports betting compared to October 2023.

Tens of Millions of Dollars in Taxes

The total sports betting handle for online operators amounted to 568.8 million dollars in November, an increase of 6.7 percent compared to October 2023 and also the highest online sports betting handle to date in the state of Michigan.

Licensed operators in the state submitted 33.6 million dollars in taxes and payments to the State of Michigan during November, with most of the sum (32.9 million dollars) coming from internet gaming taxes and fees. Internet sports betting taxes and fees amounted to 740,056 dollars in the month of November, while the three land-based casinos in Detroit paid the city 8.4 million dollars in wagering taxes and municipal services fees during November. Tribal operators also reported making payments worth 4.1 million dollars to governing bodies in November.

At the end of November 2023 there were a total of 15 commercial and tribal operators operating in Michigan in iGaming and/or online sports betting. Fourteen of these operators were active in internet sports betting while fifteen were offering iGaming services.

Source: “Michigan iGaming, sports betting operators report $209.2M in November revenue“. Michigan Gaming Control Board. December 19, 2023.

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Endorphina Leaves Behind A Year of Unrivaled Growth, Innovation, and Industry Recognition in iGaming Excellence

In a triumphant display of prowess, Endorphina, a recognizable and well-established iGaming content supplier, celebrates a stellar performance in 2023, marking a year of substantial growth and remarkable achievements that have solidified its position as an industry leader.

Expanding Market Presence and Elevating Quality

endoprhina-2023-milestonesEndorphina’s desire to bring only the best to its players shone through in 2023 as the company not only maintained but also expanded its presence in existing markets thanks to the numerous partnerships. The dedication to quality was a driving force behind this expansion.

The successful defense of the international ISO27001 certification underlined Endorphina’s plans for robust internal security measures. This achievement promises a stronger and more secure gaming environment for players.

The developer also achieved significant milestones in market authorization, notably completing the authorization process in Argentina – Buenos Aires (LOTBA). Additionally, the Bonus POP tool in its games received certifications in adherence to the regulations of various European countries, ensuring an exceptional gaming experience for players across borders.

The year 2023 also witnessed the company’s release of 25+ high-quality slots, expanding its already impressive game portfolio to offer 150+ of the best video slots in the market. Notably, the introduction of Joker Ra, the first-ever slot developed with AI assistance, marked a groundbreaking moment in game development.

Endorphina introduced the Jackpot RTP+ feature, promising improved odds for hitting a jackpot and an overall enhanced Return to Player (RTP). These features were designed to elevate the player’s experience and satisfaction.

Accolades and Industry Recognition

Endorphina’s excellence was recognized with three industry awards, including The Best Platform Provider Award at Spice India 2023, Rising Star in Baltic Online Casino Technology 2023 at BSG Awards, and Slots Provider of the Year at Affpapa iGaming Awards.

The company made its mark on the global stage by participating in key iGaming events such as ICE LONDON 2023, GAT Expo Cartagena, CASINOBEATS SUMMIT 2023, PGS Lima 2023, SiGMA Americas Brazil 2023, IGB LIVE AMSTERDAM, SBC SUMMIT BARCELONA, and SIGMA EUROPE 2023.

Moving forward, the provider underwent a rigorous internal cybersecurity test, validating its robust security framework. Additionally, the company expanded its presence in the financial sector by implementing several FinTech solutions into its array of online products.

Endorphina solidified its position in Malta and, in collaboration with the Malta Gaming Authority (MGA), established a foundation for a promising start in the coming year.

Endorphina is poised for continued success in the ever-evolving iGaming scene.

Corporate Compliance Manager, Dzangar Jesenov, had to say about our achievements in 2023: “This year has been marked by an emphasis on Compliance, aiming to increase the quality and expand the brand’s presence in existing markets. Considering that we achieved a world record last year by entering the position of an authorized supplier of online slot games in numerous markets (17 markets within 12 months), our current focus is on consolidating the brand in new markets. We successfully defended our international ISO27001 certification, completed Endorphina’s authorization in Argentina – Buenos Aires (LOTBA), certified the Bonus POP tool on our games, and in collaboration with an independent testing laboratory, we tested our unique tool according to the regulations of all European countries. We solidified our position in Malta and, in partnership with the MGA, have a better starting position for the coming year. We’ve successfully completed an internal cybersecurity test, which will now showcase our security framework abroad. Expanding our collaboration with the financial sector, we’ve implemented several FinTech solutions into our arsenal of online products. And, of course, we continue to release new games that undergo rigorous quality testing by an independent testing laboratory. Numerous milestones were achieved during the year, the most crucial being our people, who create unique added value for Endorphina daily.”

Source: ”Explore Our 2023 Milestones!”, Endorphina. December 27, 2023.

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