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Online revenue continues to grow in New Jersey

first_img Topics: Casino & games Finance Casino & games Subscribe to the iGaming newsletter 16th May 2018 | By contenteditor New Jersey has reported year-on-year online gambling revenue growth for the month of April. Internet gaming win came in at $23m (€19.4m) last month, up 10.6% on $20.8m posted in April 2017. However, the total was not enough to beat the monthly record in the US state, which was set in March this year at $25.8m. Casino win was also up 0.3% year-on-year to $191.4m in April, placing total gaming win in New Jersey at $214.4m for the month, up 1.3% on last year. Online revenue for the year-to-date stands at $92.6m, which is 15.5% ahead of last year, but casino win is down 6.1% to $716.7m. As a result, total gaming win in New Jersey so far in 2018 is $809.3m, down 4% on the end of April last year.Related article: New Jersey smashes online revenue record in March New Jersey has reported year-on-year online gambling revenue growth for the month of April Regions: US New Jersey AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Tags: Online Gambling Online revenue continues to grow in New Jersey Email Addresslast_img read more

FanDuel agrees to payout after NFL glitch

first_img Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Legal & compliance Email Address 21st September 2018 | By contenteditor FanDuel has backed down and agreed to honour a number of bets placed at erroneous odds at its Meadowlands sportsbook parlour in New Jersey during an NFL game on Sunday.The operator initially said it would not pay out to the customers who took odds of 750-1 on the Denver Broncos converting a 36-yard field goal. It said a field goal from that distance has approximately an 85% chance of success “so the astronomical odds offered on something highly likely to occur was very obviously a pricing error”.However, while it was sticking to its guns on Wednesday, apologising to those affected but claiming its house rules address “obvious pricing errors”, the company has now offered to settle all bets. In a bid to “ensure sports betting is reliable and fun for everyone” it said it is also giving away $82,000 this weekend by adding $1,000 to the account of 82 customers.After it became the subject of an investigation by New Jersey’s gambling regulator it released a statement on Thursday evening, saying: “Going forward, we are working with the New Jersey Division of Gaming Enforcement (NJDGE) to improve our processes and procedures.“We will also work with others in the industry on educating bettors on these and similar instances and how they work.”While FanDuel has not revealed how many bets were placed, two punters that publicly complained about their treatment claimed to be owed winnings of around $130,000. Added to the $82,000 goodwill gesture, that means the error, which lasted for just 18 seconds, has cost it more than $200,000.The company added: “For those familiar with the industry these rules are understood, but we realise a lot of our customers are new to sports betting and were not familiar. We want FanDuel to be a sportsbook for all bettors, and we want sports betting to be fun. So, this one’s on the house.”Kerry Langan, a spokesperson for the NJDGE, said the agency “is encouraged by FanDuel’s actions today. The division will continue to work with FanDuel and the state’s other licensed sports wagering operators to ensure the implementation of industry-wide best practices.”FanDuel went live with its brick-and-mortar sportsbook at Meadowlands Racetrack on July 14, and quickly became the market leader in New Jersey. It began accepting online bets at the start of this month.center_img Topics: Legal & compliance Sports betting FanDuel agrees to payout after NFL glitch 18-second odds mistake will cost the operator at least $200,000 Regions: US New Jerseylast_img read more

West Virginia mobile sports betting close, says casino executive

first_img Email Address Sports betting AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Two casinos have also delayed sports betting launches Regions: US West Virginia Topics: Sports betting Tech & innovation Tags: Mobile 1st October 2018 | By contenteditor West Virginia casinos could begin offering mobile sports betting within the next few weeks, according to an executive at the Hollywood Casino. Legalised sports betting went live in West Virginia in August, with Delegate Jason Barrett, D-Berkeley placing the first bet at Hollywood Casino at Charles Town Races in Jefferson County. Punters have so far been limited as to how they can bet on sports in the state, but Erich Zimny, vice-president of racing and sports operations at Hollywood, said this could be expanded to mobile before the end of October. According to Legal Sports Report, Zimny said: “We expect to launch our mobile app, I don’t have a firm date. It’s not going to be next week, it’s not going to be three to four months from now; we hope to get it up and running in the next few weeks.” Zimny’s comments come despite the West Virginia Lottery having not yet stated a launch date for sports betting mobile apps. Hollywood operates its sportsbook in partnership with William Hill US. Meanwhile, the West Virginia Lottery has confirmed that planned sports betting launches at the Wheeling Island Casino in Wheeling and Mardi Gras Casino in Nitro have been delayed. Both casinos had been due to roll out services by the end of September, but this did not materialise. The companies have not specified why the launches had been delayed, but is believed that further testing of their systems is required.West Virginia has enjoyed a relatively successful start to legalised sports betting. Last month, it was revealed that licensed casinos in the state took more than $300,000 (£229,750/€258,400) in the first week of legal sports betting.Image: Pixnio West Virginia mobile sports betting close, says casino executive Subscribe to the iGaming newsletterlast_img read more

Rush Street Interactive fined for underage gambling in New Jersey

first_img24th January 2019 | By contenteditor AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Address Regions: US New Jersey Subscribe to the iGaming newsletter Legal & compliance Topics: Legal & compliance Rush Street Interactive has become the first online gaming operator to be issued with a fine for allowing minors to access its online gambling products in New Jersey. Rush Street Interactive (RSI) has become the first online gaming operator to be issued with a fine for allowing minors to access its igaming services in New Jersey. The New Jersey Division of Gaming Enforcement (NJDGE) has issued RSI with a financial penalty of $30,000 (£23,000/€26,400) after it was revealed that a number of underage patrons had been able to register and gamble via its PlaySugarHouse.com site since November 2016. New Jersey law states consumers must be aged at least 21 years old in order to gamble online, but a flaw in RSI’s systems allowed 13 individuals aged between 18 and 20 to open accounts between November 2016 and January 2018. The NDJE said that almost $5,000 worth of bets were placed through RSI’s PlaySugarHouse.com website during the period, with the underage players gambling using a combination of cash deposits and bonuses. The regulator said the minors were able to gain access due to a defect in RSI’s software that did not accurately record customers’ birth dates. The software allowed for a three-year variation rather than requesting a specific date. RSI said it was not aware of this fault until January 2018 and has now fixed the issue. In a statement issued to the media, RSI said that it takes the matter very seriously and responded immediately when as it was made aware of the issue with its know-your-customer software. “As soon as our team discovered the misconfiguration, we self-reported it to the gaming commission and took immediate action to correct and prevent recurrence,” RSI said. “Responsible gaming is a top priority for us.” RSI recently expanded it igaming service offering in New Jersey by rolling out an integrated online sportsbook and casino on PlaySugarHouse.com. RSI was the first operator in the country to launch this combined offering.Image: 401(K) 2012 Rush Street Interactive fined for underage gambling in New Jersey Tags: Online Gamblinglast_img read more

Nektan sells Respin stake to Alternative Investment Partners

first_img Regions: US 17th April 2019 | By contenteditor Subscribe to the iGaming newsletter Topics: Finance Strategy Tags: Online Gambling Nektan sells Respin stake to Alternative Investment Partners Finance Gaming platform and services provider Nektan has sold a 57.5% majority stake in its Respin US subsidiary to Alternative Investment Partners Limited (AIP) for an initial cash consideration of £300,000 (€346,350/$391,680).Nektan has been in talks with a number of provisional buyers for several months, but until now has not revealed the identity of any businesses involved in these discussions.The deal with AIP also includes the provision of $800,000 in working capital to Respin, as opposed to the agreement comprising a £2m cash fee and £300,000 in working capital that Nektan had previously announced.Nektan has said the reason behind the change in terms of the deal are the result of the original proposed purchaser not being able to complete the transaction in the required time period and the new buyer renegotiating fresh terms.   “The majority sale of our US subsidiary allows Nektan to retain a material stake in the emerging US market without funding it on an ongoing basis,” Nektan CEO Lucy Buckley said. “We look forward to continuing to work closely with Respin as we firmly believe in our US mobile casino product.“As previously announced, Respin has steadily been gaining traction in the US, signing deals with some of the biggest land-based casinos in the world and we are excited about the macro trends in the market.”“Removal of the cash burn of the US business will allow Nektan to focus on the profitability of its core European business and continue to grow the company globally.”As a result of the sale, Nektan has said that a number of other inter-conditional transactions have been reconfirmed and are expected to complete no later than April 30. These include a credit-linked note conversion,  equity placing and subscriptions.Should these transactions go through as expected, Nektan says that it will have sufficient working capital for its present operational requirements.However, Nektan has said that it is still in talks with UK tax authority HMRC in relation to a point of consumption tax bill of around £3.6m that is due at the end of April. Nektan said if the discussions are not successful, this may mean it needs to raise additional funding.Earlier this month, Nektan reported a 5.9% year-on-year increase in revenue for the third quarter, though noted that performance in the period was impacted by a number of factors.While revenue for the three months ended March 31 was up from £5.1m in the prior year to £5.4m, this represented a 15.6% decline from the second quarter of the current financial year. Nektan said this was down to factors such as seasonality, tighter UK regulations around player marketing and verifications and a delay in its Swedish operating licence being granted.The supplier only released figures on revenue, staking and customer numbers in its trading update, meaning there was no update on its bottom-line performance. Gaming platform and services provider Nektan has sold a 57.5% stake in its Respin US subsidiary to Alternative Investment Partners Limited (AIP) for an initial cash consideration of £300,000 (€346,350/$391,680). The price is significantly below the original £2m consideration that the supplier had previously announced. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Addresslast_img read more

Svenska Spel results “not what we’re striving for,” CEO says

first_img Email Address Tags: Online Gambling Svenska Spel results “not what we’re striving for,” CEO says 24th October 2019 | By Daniel O’Boyle Casino & games Topics: Casino & games Finance Lottery Sports betting Subscribe to the iGaming newsletter Svenska Spel’s third-quarter gross gaming revenue declined to SEK4.6bn (£317.8m/€430.1m/$478.9m) as the effects of competition and regulation in the re-regulated Swedish market hit the company’s balance sheets.“Even though we have stabilised Svenska Spel’s operations after the changes at year-end, the result is not yet at the level we are striving for,”  Patrik Hofbauer, president and chief executive of Svenska Spel, said.The company’s net gaming revenue also declined year-on-year, by 5.2% to SEK2.01bn. Hofbauer said the presence of new competition in the licensed Swedish market as a major reason for the decline in both gross and net gaming revenue.Our digital business and our customer bases continue todevelops positively, but revenue is adversely affected by increased competition and efforts in gaming responsibility,” Hofbauer said.However, Hofbauer added that Svenska Spel still saw competition as a positive.“Increased competition is something that is positive and that spurs us on at Svenska Spel to be even better,” Hofbauer said.Of the company’s net gaming revenue, SEK1.12bn — 1.5% less than in 2018 — came from the Tur division which handles lottery games.Svenska Spel’s online Sport & Casino division also experienced a slight decline, to SEK462m. Revenue from Casino Cosmopol and Vegas, Svenska Spel’s land-based casino and gaming machine division, declined 16.4% to SEK429m.“The results for Casino Cosmopol & Vegas are affected by customers’ move from physical play to online, but also by efforts linked to the duty of care and money laundering legislation,” Hofbauer added.Hofbauer said that although increased regulation has hurt revenue across the industry, the restrictions would prove to be a good thing in the long term.“We can see that the gaming industry is being squeezed by lower revenues in 2019,” Hofbauer said. “Part of the explanation lies in the changes brought about by the new game regulation, in particular the national self-exclusion database Spelpaus and mandatory deposit limits.“These are positive changes as they protect consumers and build a long-term sustainable industry through sound revenue.”The company paid SEK 377m in gaming tax, a new expense in 2019 due to the re-regulation of gambling in Sweden. In addition, Svenska Spel paid SEK 279m in direct operational costs, down 7.3% from 2018, resulting in net turnover of SEK1.41bn, a 25% year-on-year decline.Personnel costs for Svenska Spel increased 4.4% to SEK257m, while other internal expenses increased 7.9% to SEK439m. Depreciation and amortisation costs, meanwhile, rose 35.5% to SEK84m.These increased expenses led to an operating profit of SEK639m, down 45.7% from 2018.Although the company lost a further SEK6m on financial items, Svenska Spel reported a SEK687m gain from deferred tax assets. This comfortably offset the SEK99m paid in tax, resulting in an overall profit of SEK1.22bn, up 4% year-on-year.The deferred tax asset was a result of differing ways of measuring depreciation between Svenska Spel’s financial reports and taxable revenue. As a result of these differences, Svenska Spel’s current taxable income is higher, but it will be required to pay SEK687m less tax in the future.“Uncertainties” in terms of how to report depreciation in the first half of 2019 mean that the deferred tax asset covers the first nine months of 2019, the operator explained.Hofbauer said that the Sport & Casino division is well-primed for growth in the future, particularly after its SBTech-powered platform launches in 2020.“On the product side, the Sport & Casino business area has expanded its range with, among other things, more tables in the live casino and the new game Football Studio 1X2,” Hofbauer said. “Poker has been updated so that customers can play directly on the web without downloading software.“The offering on sports betting is being developed through the collaboration with SBTech as supplier of a new sports book, which is expected to be in place in 2020.” Svenska Spel’s third quarter gross gaming revenue declined to SEK4.6bn  as the effects of competition and regulation in the re-regulated Swedish market hit the company’s balance sheets. Regions: Europe Nordics Sweden AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitterlast_img read more

BHA extends British racing suspension, targets May restart

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Sports betting Horse racing BHA extends British racing suspension, targets May restart The British Horseracing Association (BHA) has extended the suspension of all British racing, but aims to resume activities next month. Email Address Tags: Race Track and Racino Horse racing The British Horseracing Association (BHA) has extended the suspension of all British racing, but aims to resume activities next month.Racing has been suspended since 18 March and had not been set to resume until the end of April, due to the novel coronavirus (Covid-19) pandemic. However, with the UK still in lockdown and the government set to extend these measures for a further three weeks, the BHA has now said that racing will not resume this month.Though the BHA did not set an exact date for ending the suspension, it said plans are in place so that racing can resume as soon as is possible and appropriate in consultation with government.The BHA said it hopes to resume racing at some point in May, but only if this is possible and in line with government measures. The organisation said it would continue to work with trainers, racecourses and other participants to develop a phased plan for resumption.Racing would likely take place behind closed doors until June at the earliest, with the BHA saying there is a “very strong likelihood” that the current restrictions on mass gatherings would remain in place. The BHA had initially floated the idea of holding races behind closed doors before the lockdown was announced.For staff required to operate racing, the BHA said that it would implement “tough biosecurity measures” to help keep any health risks to a minimum.“We stopped racing in March to protect the health and safety of the public and to limit demands on the NHS,” BHA chief executive Nick Rust said. “It’s right to continue this suspension until the pressure on the NHS allows for a resumption and we can assure the safety of those taking part.“We’ll continue to develop a range of options drawing on the expertise of our participants and racecourses. But for now, we are all focused on supporting the national effort, maintaining social distancing restrictions and taking care of our people and our horses.”The UK is not the only horse racing market to have been hit by the coronavirus, with Ireland, France and New Zealand among the other countries to have also stopped racing during the outbreak. Regions: UK & Ireland Subscribe to the iGaming newsletter 16th April 2020 | By contenteditorlast_img read more

Minister calls on TAB NZ to lead racing’s Covid-19 recovery

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Topics: Sports betting Strategy Horse racing Horse racing Regions: Oceania New Zealand New Zealand Minister for Racing Winston Peters has set out his expectations for TAB NZ, saying that the new organisation should focus on helping the domestic industry recover from the novel coronavirus (Covid-19) pandemic.Last month, TAB NZ replaced the Racing Industry Transition Agency (RITA), the successor body to the New Zealand Racing Board (NZRB) established to manage the transition to a new governance model in the country.One month into its tenure, Minister Peters has announced the government’s key expectations for TAB NZ in 2020-21, saying there should be a focus on helping the racing industry recover from Covid-19 and plan fro any resurgence of the virus.“The government requires TAB NZ to actively plan contingencies with the Codes in case there is a Covid-19 resurgence,” Peters said, adding that TAB NZ must submit an update on the recovery of the sector and its contingency planning in December.Other core expectations include TAB NZ building and maintaining reserves for the domestic industry, so that it can cope with any future upheaval without the need for external support, as well as working towards a appropriate capital structure.Peters also called for a retained betting levy, with 2.5% of this to be directed to TAB NZ’s minimisation activities, in addition to the organisation working closely with codes and national sports bodies to adhere to changes set out in the new Racing Industry Act 2020.TAB NZ last week announced its executive leadership team, and Peters urged the organisation to build on this by also appointing a new chief executive to head up the body.Peters also said TAB NZ should develop a five-year plan to provide a framework for recovery and growth of the sector. This should include details such as targets for debt and equity, revenue and margins targets, capital investment plans and an outline of the leadership role TAB NZ will play.“This process should be considered in conjunction with the development of any options to recapitalise TAB NZ to inform that work as it develops and be completed by 30 June 2021,” Peters said.In terms of more general expectations for 2020-21, Peters said that TAB NZ is expected to continue providing detailed financial and accountability reports to the government on a regular basis, comply with legal requirements, ensure there are no conflicts of interest and work to retain effective working relationships.“I would like to wish TAB NZ all the best for its future work; its role will be instrumental to ensuring New Zealand’s racing industry is world class,” Peters said. 2nd September 2020 | By contenteditor Minister calls on TAB NZ to lead racing’s Covid-19 recovery New Zealand Minister for Racing Winston Peters has set out his expectations for TAB NZ, saying that the new organisation should focus on helping the domestic industry recover from the novel coronavirus (Covid-19) pandemic. Tags: Race Track and Racino Email Addresslast_img read more

Why building from the ground up is so important to the new iGB website

first_imgWe started with a list of priorities that you – our readers – told us you wanted: Then we swapped our hard hats for thinking caps and really got down to work. What’s coming next? What’s changed? And what’s coming next? The process of moving to a modern platform, improving the code, upgrading our hosting platform and creating an iGB-tailored site has allowed us to increase the speed and load times of our site by up to 250%. Strategy A few months ago, we decided to rebuild the iGB site. Since then we’ve been working tirelessly to create something we feel showcases our content better and encourages more of you to become regular readers. iGB used to be broken down into news, analysis, intelligence centre, webinars and a few other content types that were tied to our premium subscription service – Intelligence Centre (IC). That meant it functioned like a kind of igaming Frankenstein. Add in our endless bolt-ons and plug-ins and you had a site that moved at the pace of a pensioner in a world that never stands still.  First things first By always referring back to these key areas as we built, we’ve been able to create something that is truly focused around what our readers want. Design The launch is only the start of this process but it gives us a brand-new platform to build for the future and continually improve the way we showcase our content to you. Topics: Strategy Product Technical UX Starting with a blank canvas and building brick by brick has allowed us to continually test the site and change what hasn’t worked. We’re developing the best possible platform for the evolution of iGB and Clarion Gaming in 2020 and beyond. With the IC now consigned to the bin, the time has come to get rid of those old terms and simplify how you search. No more clunky journeys through ancient search bars. No more infuriating navigation dead ends. Mix this with a few technical priorities – site speed, searchability, information architecture, quality code and flawless UX – and you have a new barometer for quality news and content in igaming. We want you to be able to seamlessly navigate between the wonderful content on iGB and our events – ICE, iGB Live and iGB Affiliate. Our new company hub (directory), events and job pages are up and running but we want to improve them further and have them interconnected with each other and our main content. We’re not finished yet. While the launch of the site is a massive step forward, the project is still a work in progress. Dismantling the old site and starting from scratch has allowed us to focus on what is really important. With our readers’ needs informing all of our decisions, we’ve designed the new iGB site to be fresh, fast and compelling. And now we’re ready to launch. The old iGB site was built in a time before smartphone functionality was a thing. Like any construction project we encountered the odd hiccup but we got the foundations in and the site began to take shape. A better reading experience: One that mirrors the quality of our content and keeps you coming back for more.More related content: Want to delve deeper? On the new site you’ll find the most relevant content at your fingertips.Findable facts and figures: It’s now easier to find the data and analysis that helps inform your big business decisions.Staying in touch: We’ve made it simpler for you to sign up and manage the newsletters you get from us. Plus, we’re rolling out a few more niche ones to fill the gaps. Email Address Stephen Carter, Editorial Director, iGB We worked with a leading agency to create a website that is easier on the eye across desktop, mobile and tablet. And we’re focusing on incorporating visuals – both images and video – into your everyday journey across iGB. Subscribe to the iGaming newsletter Topic: Find content connected to the area that you are interested in. Navigate dedicated topics hubs across casino & games, esports, social responsibility and more.Region: Prefer to follow your news by regions? Then break the content down into continents or into specific markets such as the UK & Ireland or the US.Big picture: Discover what companies are saying with our exclusive Brand View pieces or search through the latest slot releases.In-depth: All the in-depth analysis from our team of reporters and industry experts.Data: Pure data in dashboard and report form from our partnerships across the industry.More from iGB: Webinars, podcasts, reports and digital magazines –right here waiting for you.  You’ll now find our content broken down into the following areas: It’s been a lot of work and there’s more to come. 7th October 2020 | By Stephen Carter We invested time and money to understand how users want to navigate our site. By optimising page layout and understanding the user journey we’ve created a seamless user experience that matches the quality of our content. For now, head to www.igamingbusiness.com to take a fresh look at our brand new website. Why building from the ground up is so important to the new iGB website AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitterlast_img read more

Acroud closes PMG deal to enhance B2B and media capabilities

first_imgThese companies generated net sales of €9.6m in the 2020 calendar year, and earnings before interest, tax, depreciation and amortisation of €900,000.  Subscribe to the iGaming newsletter M&A Furthermore, it aims to become a leading B2B provider of marketing campaigns and software solutions for both igaming and other industries. Tags: Acroud AB “The product portfolio in the group becomes diversified and adapted for fast growth,” Marcussen explained. “Both parties and our teams share a vision that is easy to get behind. We are thrilled to be joining the ride.” It also includes Voonix, a B2B software provider offering solutions to improve information and productivity for affiliates across a range of industries, and Traffic Grid, which delivers marketing campaigns across igaming affiliate networks.  AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter The purchase agreement follows Acroud and PMG signing a letter of intent to complete the deal in November last year.  “This is another important piece of the puzzle in the implementation of Acroud’s strategy to become a fast-growing global challenger in digital comparison and news services,” its president and chief executive Robert Andersson (pictured) said.  However, while that set out a price of €5.5m (£4.9m/$6.7m) before earn-out for the assets, the purchase agreement sees this lowered to €4.8m. Of this total, €2.4m will be paid in cash, with the remaining €2.4m consideration satisfied through 8,000,000 newly issued Acroud shares, priced at SEK2.99 apiece. 20th January 2021 | By Robin Harrisoncenter_img Acroud closes PMG deal to enhance B2B and media capabilities Affiliate business Acroud has completed its acquisition PMG Group’s igaming assets, in a move designed to enhance its news and direct comparison operations, as well as allowing it to offer B2B services. Shares in Acroud were trading up 0.35% at SEK2.88 per share in Stockholm on Wednesday (20 January) afternoon. PMG chief executive Morten Marcussen said the synergies and strategic benefits of the transaction would “push Acroud to the next level and give the company a unique position on the market”.  Acroud added that the deal, and coupled with acquisitions of the US-facing CompareCasino, and for an as-yet unnamed sports betting brand, position the business as “a leading affiliate company in casino, sports betting and poker”. “After the integration of the acquired assets, the focus will be on ‘operational excellence’ and on developing the new Acroud together with our new team and our new partners on an exciting journey forward.” Topics: Marketing & affiliates Strategy Affiliates M&A Email Address The deal will see Acroud take ownership of Matching Visions, described as an igaming network with a leading position in the European casino affiliate market.  The deal also comes with an earn-out consideration, based on the acquired companies hitting certain financial targets in the 2021 fiscal year. This could raise as high as €16m, and will be split equally between cash and shares. last_img read more

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