News - Page 7

Eminence Capital and its increasing role in Entain have been a hot topic of discussion among industry insiders and market watchers alike. Ricky Sandler, the visionary at the helm of the global asset management firm, has been making waves with his latest maneuver, purchasing a whopping 7.1 million shares on June 3. This bold move has not only increased Eminence Capital's total holdings in Entain to 37,154,030 shares but has also solidified its position as a key player in the company's future, with a 5.18% stake in the FTSE100 listed giant.

Vladimir Malakchi, known for his impactful tenure as Evoplay's Chief Commercial Officer, has embarked on an ambitious new journey with the launch of Xanada Investments. This iGaming investment fund is set to challenge conventional norms and compete with heavyweights like Yolo Investments. Malakchi's venture is not just another investment fund; it's an "ideological investment fund" with a unique focus on fostering an ecosystem of excellence within the iGaming industry.

Selena Kalvaria is stepping into a world vastly different from couture and high fashion, as she embraces her new role as Chief Marketing Officer (CMO) at Fanatics Betting & Gaming. This bold career move was first reported by The Wall Street Journal, leaving the fashion and betting industries buzzing with speculation about the potential implications of such a transition.

In the picturesque lanes of the Netherlands, a revolution is quietly brewing, not in the tulip fields but within the digital domains of online casinos and gambling platforms. The Kansspelautoriteit (KSA), the Dutch Gaming Authority, is setting new benchmarks with its updated Responsibly Gambling Policy Rules, aimed at fortifying the bulwarks of consumer protection in the gambling realm. Let's dive into what makes these changes not just necessary but pioneering in promoting responsible gambling.

DraftKings (NASDAQ: DKNG), a leading name in the online casino and gambling sector, has recently faced a challenging phase with its shares dropping by 15.06% over the past month. This downturn has notably exceeded the typical market correction, trimming down the company's year-to-date gain to a mere 0.77%. Despite this rough patch, the gaming stock continues to receive backing from some corners of the analyst community, hinting at a complex but intriguing narrative unfolding within the industry.

GambleAware, a cornerstone in the fight against gambling-related harm in the UK, has once again spotlighted the gambling sector's contribution—or lack thereof—to public health and harm prevention efforts. With a staggering £49.5 million pouring into its coffers for the year 2023/24, one might think the battle against problem gambling is well-funded. Yet, a closer look reveals a complex tapestry of generosity, disparity, and the urgent need for systemic change.

The legalization of sports betting across the United States was expected to bring a wave of change, curbing the shadowy corners of illegal wagering. Yet, despite the green light in 38 states and Washington, DC, the aftermath of the 2018 Supreme Court ruling that struck down the Professional and Amateur Sports Protection Act (PASPA) hasn't fully quenched the thirst of black market betting, especially in states like New Jersey and New York.

The MARE BALTICUM Gaming & TECH Summit, hosted by the visionary HIPTHER Agency, is not just another event on the calendar. Slated for June 4-5, 2024, it promises to be a pivotal moment for professionals in the iGaming and tech industries. With the welcome meet scheduled for tonight, anticipation is building for what is expected to be a gathering of minds, innovation, and opportunity.

In a move that's causing waves across the online casino and gambling sector, Spinomenal, a provider known for its immersive online slots, has inked a game-changing deal with SkillOnNet, a powerhouse operator behind dozens of global online casino brands. This partnership not only marks a significant milestone for both entities but also sets a new course for players seeking thrilling gaming experiences.

In this week's edition of Casino Guru News, we're not just reporting the news; we're part of it! Let's dive into a whirlwind of triumphs, insights, and jaw-dropping wins that have had the iGaming world buzzing.

In a whirlwind week for the Swedish gambling sector, Spelinspektionen, the Swedish Gambling Authority, and the nation's courts were at the forefront of scrutinizing the actions of various gambling operators. Amidst a slew of penalties, one company, Zimpler, emerged victorious in its legal battle, casting a spotlight on the intricacies of compliance and regulation in the iGaming industry.

In the dynamic landscape of US sports betting, operators navigate a complex web of taxes and license fees—a reality that has evolved significantly since the Supreme Court's landmark decision in 2018 to repeal PASPA, paving the way for legal sports betting across the states. Today, we're diving deep into one of the more contentious aspects of this scenario: the federal excise tax on sports betting. Buckle up as we explore the intricacies of this tax, its impact on the industry, and the legislative efforts surrounding it.

Edward Byard, the visionary founder of Crucible Gaming, shared an enlightening glimpse into the ethos driving the nascent iGaming studio. With a mission to disrupt the gaming scene, Byard and his team are blending passion, experience, and a dash of daring to craft slots that stand apart. Their latest concoction, Beaver Las Vegas, serves as a testament to their philosophy, marrying fun and innovation in a market thirsty for originality.

In the ever-evolving landscape of live streaming, Twitch finds itself at a crossroads, grappling with the proliferation of gambling content. The migration of high-profile streamers like xQc and Trainwrecks to Kick, a burgeoning rival platform, has only added fuel to the fire, challenging Twitch's dominance in the streaming sector.

Illinois is on the brink of introducing a groundbreaking sports betting tax model that could see rates soar to the nation's second-highest, trailing only behind New York. This progressive tax, slated to range from 20% to a whopping 40%, marks a stark departure from the state's original 15% tax rate established in 2021. The proposal, embedded within an amendment to HB4951, has sent shockwaves through the industry, notably affecting market performance for giants like DraftKings and FanDuel.

The gambling and betting world is never short of drama or developments, and this week has been no exception. From the corridors of power in the United Kingdom to the vibrant markets of Latin America, changes are afoot that could reshape the landscape of the industry in profound ways. Let's dive into the whirlwind of events that have kept us on the edge of our seats.