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Category: News

  • Parisian Gaming Clubs Shut Amid Political Uncertainty, Straining Sector

    Parisian Gaming Clubs Shut Amid Political Uncertainty, Straining Sector

    Parisian gaming clubs, a cornerstone of local entertainment and significant economic contributors, have been shuttered since January 1. The closures stem from political upheaval following the French government’s collapse on December 5 due to a censure motion. This crisis has left 1,500 employees in financial limbo and threatens the stability of the sector.

    Thousands of Jobs and a Sector at Risk

    The gaming club closures have far-reaching consequences. Around 1,500 employees now rely on government-backed partial unemployment benefits, which cover 60% of their salaries. However, these payments fall short of easing the financial burden for workers or the businesses themselves. Fixed expenses like rent, utilities, and maintenance continue to mount, pushing some establishments to the brink of financial collapse.

    Independent gaming clubs are especially vulnerable. With minimal resources and dwindling cash reserves, many small operators are struggling to stay afloat. “This situation is terrible for the 1,500 families who work in the clubs,” said Sébastien Leclercq, General Manager of Circus Casino France, which operates Club Circus Paris.

    Leclercq explained that his company is providing additional unemployment supplements to employees for two months. However, he warned that this level of support cannot be sustained indefinitely. “We will not be able to last several months like this,” he cautioned during an interview with BFM Business.

    Government Support but Limited Action

    Efforts to stabilise the sector have been hindered by the political turmoil. While both the Ministry of the Interior and the Ministry of Labor have expressed support for gaming clubs, meaningful legislative intervention has yet to materialise.

    A government report outlining measures to ensure the long-term sustainability of gaming clubs was completed before the crisis but remains unacted upon. “The Ministry of the Interior and Labor support us: they are receptive and try to help us,” said Leclercq. Yet, the lack of an operational government has stalled progress.

    The clubs’ closure also impacts public finances. Parisian gaming clubs contribute significantly to tax revenues, generating a Gross Gaming Product (GRP) of €120 million in 2022. Of this, €50 million was allocated to public authorities, including €40 million for the State and €10 million for the Paris town hall. Club Circus Paris alone accounted for €20 million in revenue, with €16 million stemming from gross gaming revenue.

    Independent Clubs Face Bleak Prospects

    While major operators like Club Circus Paris have some capacity to weather the storm, smaller clubs are nearing their breaking point. Without swift intervention, these independent establishments could soon shutter permanently, further destabilising the sector.

    Leclercq highlighted the precarious position of smaller clubs: “Some independent clubs no longer have any resources and are in danger.” Fixed costs such as lease agreements and equipment maintenance continue to drain their finances despite the lack of revenue.

    The ripple effects could extend beyond the gaming sector. The closures have disrupted a local entertainment ecosystem that attracts visitors and supports related industries like hospitality and tourism.

    The Need for Urgent Legislative Action

    Industry leaders are urging the French government to prioritise reopening gaming clubs and enacting supportive policies. Without immediate action, the consequences could be dire for businesses, employees, and the broader economy.

    • Employee Well-being: Extended closures could deepen financial hardship for the 1,500 workers dependent on the sector.
    • Economic Losses: The cessation of gaming operations translates to significant losses for both businesses and public revenues.
    • Sector Viability: Independent clubs, which lack the financial buffers of larger operators, are at high risk of permanent closure.

    As the political stalemate drags on, the future of Parisian gaming clubs—and the livelihoods they support—remains uncertain.

  • Bet365 Returns to Profit in Fiscal Year 2023-24 Amid Revenue Growth and US Expansion

    Bet365 Returns to Profit in Fiscal Year 2023-24 Amid Revenue Growth and US Expansion

    Bet365, one of the world’s largest online sports betting companies, has made a strong comeback to profitability for its fiscal year ending March 31, 2024. Boosted by solid revenue growth and a push into the lucrative United States market, the company’s results reflect a blend of strategic investments and innovation in its offerings.

    Revenue Rebounds with 9% Growth

    The latest financial filing by Bet365 with Companies House paints a bright picture for the company’s performance. Group revenue surged to £3.72 billion ($4.65 billion), a notable 9% increase from the prior year’s £3.41 billion ($4.26 billion). The betting and gaming segment alone contributed £3.7 billion ($4.62 billion), matching the overall growth rate.

    Profit before tax for the betting segment soared to £626.6 million ($782.97 million), marking a significant turnaround. However, Bet365’s Stoke City FC business continued to struggle, reporting a widened loss of £30.3 million ($37.86 million) compared to £12.4 million ($15.49 million) the previous year.

    US Expansion: A Game-Changer

    CEO Denise Coates emphasised the importance of the company’s investments in the US, calling the expansion a “key driver” of the group’s success. Bet365 launched regulated betting operations in seven states, including Arizona, Iowa, Indiana, and Pennsylvania. The platform’s American footprint is seen as a pivotal growth area, with product launches tailored to local markets.

    The addition of new trading weeks and the enhancement of its Bet Builder tool also contributed to the year’s 11% rise in sports betting revenue. The Bet Builder feature now extends to sports such as boxing, cricket, and Formula 1, catering to a broader audience.

    Product Innovation and Challenges

    Bet365 continues to refine its offerings, adding value to both sports betting and gaming segments. Fantasy sports and virtual gaming were upgraded, with new languages like French and Latin American Spanish broadening the appeal to diverse audiences.

    However, the gaming segment’s revenue remained flat. Market challenges in live casino gaming dampened growth despite efforts to create more personalised user experiences. Innovations such as a revamped recommendation engine and exclusive live games, including the company’s proprietary Super Mega Ultra live game show, aim to boost engagement.

    Charity and Executive Pay in Focus

    Bet365 increased its charitable contributions significantly during the year, donating £127 million ($158.69 million), up 20.5% from the previous period. The majority of these funds (£120 million or $149.95 million) went to the Denise Coates Foundation, which focuses on community and health initiatives.

    Interestingly, Denise Coates herself took a major pay cut. Her annual salary dropped to £94.6 million ($118.21 million) from £220.7 million ($275.78 million) the previous year, reflecting the company’s focus on operational efficiencies.

    Stoke City FC and Regulatory Compliance

    A significant development in the year was the demerger of Stoke City FC, a football club historically linked to Bet365. The club, now fully owned by director John Coates, was delisted as a Bet365 asset in July 2024. The move incurred an estimated cost of £118 million ($147.45 million).

    Meanwhile, regulatory compliance remained a top priority for Bet365. The company is actively participating in the UK Gambling Commission’s pilot for financial risk checks, designed to promote responsible gambling. Under the programme, players with monthly net deposits exceeding £500 are flagged, with thresholds set to tighten in 2025.

    Ongoing Challenges and Legal Matters

    Despite its strong performance, Bet365 faced several challenges. The company is cooperating with an anti-money laundering (AML) investigation by Australian regulator AUSTRAC, initiated in March 2024. While enforcement action is uncertain, Bet365 has committed to full cooperation.

    Customer claims amounting to £19.9 million ($24.87 million) primarily stemmed from past activity in Germany and Austria. Bet365 is addressing these claims while maintaining a focus on compliance and growth in regulated markets.

  • EGT Names Christian Graffigna as New Director of Argentina Office

    EGT Names Christian Graffigna as New Director of Argentina Office

    Euro Games Technology (EGT), a leading supplier in the gaming industry, has announced a major leadership change for its Argentina operations. Christian Graffigna, a seasoned professional with decades of experience, has officially taken over as the director of EGT’s Argentina office as of December.

    A Leader With a Stellar Resume

    Christian Graffigna is no stranger to the world of gaming and entertainment. With a degree from the Argentine University of Enterprise (UADE), he further enhanced his leadership skills through programmes at the University of Piura in Peru and the prestigious IESE Business School.

    Graffigna’s career has spanned several prominent roles in the gaming sector. At CIRSA and Luckia, he proved his capabilities, later taking on the role of General Manager at Starbay Casino in Panama, where he led for seven years. His appointment at EGT signals a clear intent to leverage his expertise to strengthen the company’s presence in Argentina.

    Strategic Goals for Argentina

    In his new role, Graffigna is expected to focus on positioning EGT as a top supplier in the Argentinian gaming market. With fierce competition in the industry, Graffigna’s leadership is seen as critical in driving growth and innovation. He has already expressed his ambitions to elevate EGT’s reputation and impact within the region.

    • Market Expansion: Graffigna’s deep understanding of Latin American markets will likely help EGT tap into new opportunities across the country.
    • Innovation: Under his leadership, the company is expected to push forward with cutting-edge gaming technology and tailored solutions for Argentinian clients.
    • Collaboration: Building stronger partnerships with local operators is expected to be a cornerstone of EGT’s strategy under Graffigna’s guidance.

    A Boost for EGT’s Regional Presence

    Argentina represents a key market for EGT in Latin America. The country’s gaming industry has been undergoing significant changes in regulation and demand, providing ample opportunities for suppliers to expand their footprint. EGT, known for its innovative gaming equipment, has already established a solid foundation in the region.

    Graffigna’s appointment is seen as a strategic move to accelerate EGT’s growth trajectory in Argentina. His knowledge of the local landscape and his proven ability to lead in competitive environments could give the company an edge over its rivals.

    Industry Reactions and Next Steps

    The news of Graffigna’s appointment has been met with optimism by industry stakeholders. His proven track record in managing complex operations and delivering results is expected to bring renewed energy to EGT’s Argentina operations.

    A spokesperson for EGT said, “Christian Graffigna’s leadership is a game-changer for our company in Argentina. His experience and vision align perfectly with our growth ambitions.”

    What’s Next for EGT?

    With Graffigna at the helm, EGT is expected to:

    1. Enhance its product portfolio to better meet the needs of the Argentinian market.
    2. Focus on operational excellence to improve service delivery and customer satisfaction.
    3. Explore new partnerships and opportunities to strengthen its regional presence.

    Graffigna’s appointment marks a new chapter for EGT in Argentina, one filled with promise and potential.

  • Brazil’s Supreme Court Limits Loterj-Licensed Operators to Rio de Janeiro

    Brazil’s Supreme Court Limits Loterj-Licensed Operators to Rio de Janeiro

    Brazil’s Supreme Federal Court (STF) has imposed a significant restriction on the Rio de Janeiro State Lottery (Loterj), mandating its licensed operators to limit their betting activities strictly within the state. This ruling is set to reshape the regulatory framework for gambling in Brazil and address the ongoing tug-of-war between state and federal authorities.

    STF Orders Geolocation Systems for Compliance

    In a decision handed down on January 2, STF Minister André Mendonça ruled that Loterj-licensed operators must implement geolocation tracking to prevent bets from being placed outside Rio de Janeiro. This injunction responds to Original Civil Action No. 3,696, a case filed by Brazil’s federal attorney general’s office (AGU) last October.

    The ruling grants Loterj a five-day compliance window, effective January 7, to enforce these measures. The court highlighted that previous amendments, which had removed geolocation requirements, undermined the integrity of Brazil’s regulatory structure.

    Minister Mendonça expressed concern over the potential ramifications: “The relaxation of the criteria weakens the supervision and control of lottery activity, potentially harming the federative pact.” While states retain the right to offer lottery services, the minister emphasized the federal government’s overarching regulatory authority.

    The Legal Tussle Between Loterj and the Federal Government

    The legal battle stems from Loterj’s decision in 2023 to issue its own online gambling licenses, which were seen as an alternative to federal licensing. The state regulator positioned these licenses as a cost-effective option, charging BRL 5 million for a five-year term compared to the federal regulator SPA’s fee of BRL 30 million. Additionally, Loterj’s tax rate of 5% on gross gaming revenue (GGR) significantly undercut the federal rate of 12%.

    This disparity attracted operators looking for less stringent and more economical terms. However, the STF’s ruling has effectively nullified this advantage, reinforcing the authority of Brazil’s federal online gambling regulations, which officially came into force on January 1.

    Implications for Loterj-Licensed Operators

    For operators, the court’s decision presents immediate challenges. Those licensed by Loterj must either restrict their activities to Rio de Janeiro or seek federal licenses to continue nationwide operations. The operational and financial impact of this ruling is expected to be substantial:

    • Compliance Costs: Operators will need to invest in geolocation technology to meet the court’s requirements.
    • Strategic Reassessment: Companies must decide whether to align with federal licensing or scale back their ambitions to Rio de Janeiro alone.
    • Tax Implications: Transitioning to federal licenses will increase the tax burden from 5% to 12% on GGR.

    What’s Next?

    The STF’s preliminary injunction is not the final word. A virtual plenary session, scheduled for February 14–21, will scrutinize the decision further. During this session, Loterj will have the opportunity to appeal and present its arguments. Meanwhile, the AGU will respond to the court’s queries, potentially shaping the course of this high-stakes legal dispute.

    Until then, Loterj-licensed operators face uncertainty. The decision has sparked broader debates about the balance of power between state and federal governments in regulating Brazil’s burgeoning online gambling market.

    Federal Gambling Framework Gains Strength

    The federal government’s intervention underscores its intent to assert control over Brazil’s gambling industry. By mandating uniform regulations and enforcing higher licensing fees, the government aims to create a standardized framework that promotes transparency and accountability.

    This shift follows a protracted six-year process to legalize online sports betting in Brazil. As of January 1, the country officially became a regulated national market for fixed-odds betting. Federal regulations now cover various aspects of the industry, from taxation to operational standards, providing a unified approach that contrasts with Loterj’s state-specific model.

    Aspect Loterj Licenses Federal Licenses
    Licensing Fee (5 Years) BRL 5 million BRL 30 million
    Tax Rate on GGR 5% 12%
    Geolocation Requirement Removed (prior to STF ruling) Mandatory

    This table highlights the disparities that have fuelled the ongoing conflict and the STF’s attempt to align state practices with federal standards.

    The outcome of this case could serve as a precedent for other states contemplating independent regulatory frameworks. With the national government’s firm stance, operators and regulators alike must brace for a more centralised and uniform gambling environment.

  • Northern Edge Navajo Casino Celebrates 13th Anniversary with Month-Long Festivities

    Northern Edge Navajo Casino Celebrates 13th Anniversary with Month-Long Festivities

    The Northern Edge Navajo Casino, a cherished destination in the Upper Fruitland Chapter near Farmington, New Mexico, is marking its 13th anniversary with a series of celebrations throughout January. With giveaways, promotions, and tributes to the community, the Navajo Nation Gaming Enterprise (NNGE) is rolling out the red carpet for its loyal patrons and supporters.

    Anniversary Promotions Promise Excitement

    The casino has lined up an exciting array of activities for guests during its anniversary month. Central to the celebrations is the 13th Anniversary Spin and Win Promotion, set to take place on January 16 from noon to 8:00 PM. Visitors who earn 130 points can participate in kiosk games for a chance to win up to $1,300 in cash or $300 in free play.

    This initiative reflects the casino’s commitment to engaging its community and creating memorable experiences. From cash giveaways to special events, there’s something for everyone this January.

    A Decade Plus of Growth and Gratitude

    Since opening its doors on January 16, 2012, Northern Edge Navajo Casino has become a vital part of the Four Corners region, nestled amidst the striking landscapes of Mount Blanca, Mount Taylor, Mount Hesperus, and the San Francisco Peaks. Over the years, the casino has grown to offer:

    • Diverse entertainment: Slots, table games, a poker room, and live entertainment every weekend.
    • Exceptional dining: Options include the recently revamped Cedar Bow Restaurant, known for its inviting atmosphere and locally inspired menu.
    • Cultural architecture: The property’s design incorporates traditional Navajo symbolism while catering to modern aesthetics.

    John James, CEO of Navajo Gaming, expressed pride in the casino’s accomplishments and gratitude to the community. “We are proud that travelers to the Four Corners area continue to seek out our fine gaming and hospitality options at Northern Edge Casino,” he stated. He also highlighted the casino’s role in providing jobs, training, and economic benefits to the Navajo Nation.

    The Larger Impact of Navajo Gaming

    Northern Edge Navajo Casino is one of four casinos and a travel plaza operated by NNGE, a business entity established by the Navajo Nation in 2006. The enterprise has been instrumental in fostering economic growth and cultural representation in the region.

    Here’s a timeline of NNGE’s major developments:

    Property Name Location Opening Year
    Fire Rock Navajo Casino Near Gallup, NM 2008
    Flowing Water Navajo Casino Shiprock, NM 2010
    Northern Edge Navajo Casino Farmington, NM 2012
    Twin Arrows Navajo Casino Flagstaff, AZ 2013
    Navajo Blue Travel Plaza Near Gallup, NM 2020

    Today, the enterprise employs over 1,200 people and has contributed significantly to the Navajo Nation’s economy. Northern Edge Casino alone has created hundreds of jobs and distributed millions of dollars in revenue to support local initiatives.

    A Blend of Tradition and Modernity

    What sets Northern Edge apart is its ability to honour Navajo culture while catering to contemporary audiences. Its award-winning architecture, infused with Navajo design elements, tells a story of heritage and resilience. This harmony between tradition and modern appeal makes the casino a standout destination in the region.

    Additionally, its live entertainment offerings and versatile dining options ensure a holistic experience for visitors, from locals seeking a weekend escape to travelers exploring the Four Corners area.

    Community-Centric Success

    The casino’s achievements wouldn’t have been possible without community support. James acknowledged the contributions of the Farmington community, the Upper Fruitland Chapter, the Navajo Nation President and Council, and the dedicated employees who have made the past 13 years a success.

    This deep connection to its roots underpins the casino’s philosophy, where business success translates into cultural preservation, job creation, and community upliftment.

  • Advocates Push for Smoke-Free Policies in New Jersey Casinos

    Advocates Push for Smoke-Free Policies in New Jersey Casinos

  • Codere Online Faces Nasdaq Delisting as Auditor Change, Securities Fraud Allegations Cloud Outlook

    Codere Online Faces Nasdaq Delisting as Auditor Change, Securities Fraud Allegations Cloud Outlook

    Codere Online, a key player in the online gaming sector, finds itself at the centre of a storm. The company is facing serious challenges that include an auditor switch, allegations of securities fraud, and the looming threat of being delisted from Nasdaq. As the January 16 appeal hearing approaches, the stakes couldn’t be higher.

    Auditor Resignation Sparks Turmoil

    Marcum LLP, Codere Online’s auditor, stepped down on December 20, citing insurmountable challenges in completing necessary audit procedures. The crux of the issue? Deficiencies in IT general controls across third-party platforms and a lack of internal financial reporting controls. This resignation underscores long-standing structural problems at Codere Online, which had already disclosed weaknesses in internal controls during 2021 and 2022.

    In response, Codere moved quickly, appointing MaloneBailey, LLP as its independent auditor on December 31. MaloneBailey is now tasked with handling audits for fiscal years 2023 and 2024, a crucial step as the company works to restore investor confidence.

    Internal Weaknesses Fuel Ongoing Struggles

    Codere’s internal control problems are not new. The company has admitted to lacking technical accounting expertise and robust oversight of outsourced processes, including cybersecurity measures managed by its parent company, the Codere Group. These systemic issues have cast a long shadow over its financial integrity and operational reliability.

    The company’s troubles have been compounded by its failure to file its Form 20-F for 2023, which led to a delisting notice from Nasdaq. Codere’s survival on the exchange now depends on the outcome of its January 16 appeal. Should the extension be granted, the company would have until May 12, 2025, to file its overdue reports for fiscal years 2023 and 2024. The clock is ticking.

    Stock Price Takes a Hit Amid Investor Anxiety

    Investor confidence in Codere has wavered. Over the past month, its stock price has fallen 20%, trading at $6.38 as of the latest session. The decline adds to the company’s challenges, though it’s worth noting that Codere had an impressive run in 2024, with shares climbing 113.95% by the end of the year. This sharp contrast reflects the volatility and uncertainty surrounding its current predicament.

    Law firm Pomerantz LLP has further shaken investor confidence by launching an investigation into potential securities fraud and unlawful business practices at Codere Online. The investigation was announced following Marcum’s resignation, which led to a 3.84% drop in Codere’s share price on the same day.

    Can Codere Weather the Delisting Threat?

    A potential Nasdaq delisting looms large over Codere’s future. Analysts like Jeffrey Stantial from Stifel remain cautiously optimistic, expressing hope that the company could meet its May 2025 deadline for filing the overdue reports. However, the timeline is tight, and the challenges are significant.

    A delisting would push Codere’s stock to over-the-counter markets, which are less appealing to institutional investors. This move would likely reduce the company’s valuation and damage its reputation in the highly competitive gaming sector. Codere’s current market capitalization stands at $306.67 million, but the loss of its Nasdaq listing could trigger a sharp decline.

    Key Issues at a Glance

    Here’s a snapshot of Codere Online’s pressing issues:

    • Auditor resignation: Marcum LLP cited deficiencies in IT and internal controls.
    • New auditor: MaloneBailey, LLP has been appointed for fiscal years 2023 and 2024.
    • Nasdaq compliance: Failure to file Form 20-F has led to a delisting notice, with a crucial hearing set for January 16.
    • Stock performance: Shares have dropped 20% in a month but remain significantly up year-over-year.
    • Legal troubles: A class-action investigation is underway, further complicating the company’s outlook.

    What’s Next for Codere?

    Codere Online’s ability to navigate this challenging period will likely determine its future in the online gaming industry. The Nasdaq hearing on January 16 is pivotal. If Codere secures an extension, it must move swiftly to address its internal weaknesses and complete its financial filings. If not, the fallout from a delisting could be severe, both financially and reputationally.

    For now, analysts and investors alike are watching closely, hoping for signs that Codere can turn its fortunes around. The company’s ability to implement stronger controls, rebuild trust, and meet regulatory requirements will define its next chapter.

  • Ukraine Shakes Up Gambling Industry, Axes Regulatory Body Amid Corruption Claims

    Ukraine Shakes Up Gambling Industry, Axes Regulatory Body Amid Corruption Claims

  • DraftKings Rolls Out Sportsbook+ Subscription in New York

    DraftKings Rolls Out Sportsbook+ Subscription in New York

    DraftKings has unveiled its latest offering, Sportsbook+, a subscription service tailored for bettors in New York. Priced at $20 per month, this service promises enhanced odds on parlay bets, aiming to amplify the betting experience for users while boosting profitability for the company.

    What Sportsbook+ Brings to the Table

    Subscribers to Sportsbook+ receive stepped-up odds boosts for parlays, creating the potential for significantly higher payouts. For parlays with individual legs of -500 odds or narrower, the profit boost starts at 10% for two-leg parlays and scales up to a remarkable 100% for those with 11 or more legs. This effectively doubles the potential payout, which is an enticing prospect for seasoned bettors.

    But the real draw? Unlimited boosts. Unlike traditional promotions in the U.S. sports betting market, where limits are often imposed, this service provides bettors with a unique edge—an appealing factor for regular users.

    DraftKings explained, “The subscription service was designed to offer our customers an enhanced fan experience, creating more excitement and value to our extensive parlay offering.”

    A Strategic Move Towards Parlay Dominance

    DraftKings’ focus on parlays is no accident. Parlays, which require all legs to hit for a payout, offer sportsbooks higher profit margins compared to single bets. CEO Jason Robins has repeatedly emphasized this as a cornerstone of the company’s strategy.

    During a Q2 earnings call, Robins stated, “Certainly, we feel like there’s a ton of room to increase our parlay mix and increase our average leg count still. The team is very focused on that.”

    This focus has already shown results. The company’s December 2023 launch of a progressive parlay product, which offers partial payouts for near-misses, saw notable success. Customers appreciated the balance of risk and reward, driving engagement and boosting structural hold percentages year over year.

    CFO Alan Ellingson reinforced this during the Q3 earnings call, noting, “Structural sportsbook hold percentages increased year-over-year as customers continued to enjoy our parlay offerings.”

    Odds Boosts: A Key to Retention

    Odds boosts are not just about attracting bettors; they play a vital role in retaining them. Offering consistent, enhanced returns keeps users engaged and reduces churn in a market where competitors vie for attention.

    Sportsbook+ goes further by eliminating caps on boosts, a move that positions DraftKings to stand out. This approach not only appeals to heavy users but also builds long-term loyalty in an increasingly crowded industry.

    A Calculated Bet on High-Margin Customers

    The introduction of Sportsbook+ aligns with DraftKings’ broader vision of fostering loyalty while generating higher-margin wagers. By targeting a specific customer base—those who frequently bet on parlays—the service is tailored to drive maximum value for both users and the company.

    Key features of Sportsbook+:

    • Stepped-Up Odds Boosts: Start at 10% for two-leg parlays, rising to 100% for parlays with 11+ legs.
    • Unlimited Usage: No caps on the number of boosts, an uncommon feature in the U.S. market.
    • Exclusive Access: Available to select eligible customers in New York for $20 per month.

    The Bigger Picture

    DraftKings’ move to launch Sportsbook+ demonstrates a keen understanding of market dynamics. As sportsbooks compete to retain and grow their user base, innovative offerings like this one help differentiate brands and provide added value.

    The focus on parlay bets highlights an industry-wide shift towards products that enhance engagement while maintaining profitability. With Sportsbook+, DraftKings is banking on the appeal of bigger payouts, unlimited boosts, and exclusive perks to stay ahead in the competitive betting market.

    As the company continues to refine its offerings, Sportsbook+ could serve as a blueprint for subscription-based services in other states, marking another step in DraftKings’ expansion strategy.

  • ASEAN Gaming Summit Set to Make a Grand Return in Manila

    ASEAN Gaming Summit Set to Make a Grand Return in Manila

    The ASEAN Gaming Summit is back for its 7th edition, with registrations now open for the March 2025 event at Shangri-La The Fort, Manila.

    A Global Gathering for the Gaming Industry

    The ASEAN Gaming Summit, organized by Asia Gaming Brief, has firmly established itself as one of the premier events in the international gaming calendar. Scheduled for 17-19 March 2025, the three-day conference will take place at the prestigious Shangri-La The Fort in Manila, Philippines.

    The event builds on the success of its 2024 edition, which saw a record turnout of nearly 1,600 participants representing diverse countries, including the Philippines, Australia, Macau, Germany, and beyond. With this year’s focus on innovation and adapting to shifting regulatory landscapes, the summit is expected to draw an even broader audience of gaming professionals, policymakers, and industry leaders.

    Spotlight on Changing Regulations and Emerging Markets

    Regulatory changes across ASEAN countries will be front and centre at this year’s summit. The conference will provide a platform for stakeholders to explore the challenges and opportunities presented by the region’s evolving legal frameworks. As consumer trends shift and new gaming technologies emerge, industry leaders will share insights into navigating these changes across both remote and in-property gaming sectors.

    Discussions will focus on diverse topics such as:

    • The implications of regulatory updates across key ASEAN markets.
    • Emerging technologies in gaming, including remote gaming innovations.
    • The evolving preferences of Asia’s gaming consumers and their global impact.

    The summit offers a rare opportunity for stakeholders from various disciplines to exchange ideas and collaborate on shaping the future of the gaming industry.

    Asia Gaming Awards: Celebrating Excellence

    A key highlight of the conference will be the Asia Gaming Awards 2025, scheduled for Tuesday, 18 March. This glamorous ceremony celebrates outstanding achievements within the gaming sector, recognizing excellence among industry peers.

    The awards bring together some of the most prominent names in gaming, fostering a sense of community and inspiring innovation among participants. With categories ranging from operational excellence to groundbreaking technology, the awards are highly anticipated by attendees.

    Strong Support from Industry Leaders

    Asia Gaming Brief has expressed gratitude to DST Gaming, the lead sponsor for this year’s summit, along with other longstanding sponsors who have supported the event over the years. Their contributions reflect the industry’s commitment to driving innovation and collaboration in the gaming space.

    Organizers have also announced that Early Bird tickets are now available for a limited time, allowing participants to secure their spots at a discounted rate. Given the summit’s reputation and last year’s overwhelming attendance, these tickets are expected to sell out quickly.

    A Glimpse of What to Expect

    For those looking to join, here’s what the ASEAN Gaming Summit promises to deliver:

    • Networking opportunities: Meet policymakers, regulators, and industry peers from over 20 countries.
    • Engaging panels and keynotes: Learn from experts about the latest trends and strategies in gaming.
    • Exclusive industry insights: Stay ahead of the curve with actionable takeaways on regulatory and market trends.
    • Celebratory moments: Be part of the Asia Gaming Awards ceremony, a night dedicated to industry achievements.

    The ASEAN Gaming Summit continues to be a beacon for innovation and collaboration within the gaming industry. As it returns for its 7th edition, it offers an unmatched platform for participants to exchange ideas, foster connections, and shape the future of gaming across the ASEAN region and beyond.