Connect with us
Prague Gaming & TECH Summit 2024

iGaming Industry

Brazil set to privatize lottery in December

Published

on

Brazil set to privatize lottery in December

Brazil is set to privatize its lottery operations by the end of the year, a move that many analysts see as a significant step toward the commercialization of gambling in Latin America’s largest economy.

 

The country’s Secretary for Economic Monitoring announced that it will be bidding out Brazil’s Exclusive Instant Lottery (LOTEX) concession on December 2017. Public bank Caixa Economica Federal (Caixa) continues to operate the lottery even as instant ticket sales were halted in 2015 ahead of the privatization.

In its Thursday industry update, Union Gaming said that ten of the biggest names in gaming industry are expected to compete for the lottery concession, which will come with an with an initial term of 25 years. The minimum bid for the lottery operation is set at R$916 million (US$290 m based on current exchange rates).

Scientific Games, IGT, Intralot, and Pollard were reportedly among the 10 multinational investors that had expressed interest in the instant ticket concession and had actively participated in the LOTEX roadshows in Las Vegas and London over the past two weeks.

Advertisement

“Though it appears from our discussions that many of the major suppliers are still noncommittal on whether they would participate in the auction given some degree of uncertainty surrounding the regulatory landscape in Brazil and market opportunity,” analyst John DeCree said in a note issued on Thursday.

Brazil, which has over 200 million residents, is considered one of the last major untapped gaming markets in the world. Despite its attractiveness, Brazil’s instant ticket business is still in its infancy.

DeCree cautioned investors to carefully manage the sizeable upfront fee, which he said is more suited to an established market. He also expects the competition to heat up among the ten bidders.

Given the potential for a bidding war and size-able upfront investment, we would not be surprised to see IGT and SGMS or other major suppliers team-up and follow a similar JV structure as Scratch & Win in Italy,” he said.  “We think a JV would make sense here, allowing multiple partners to diversify the risk of entering a new market like Brazil, where it can be difficult to predict how the industry will mature over the duration of the concession. We also suspect a local partner would be valuable asset to include in any prospective consortium to help navigate the local landscape and business environment.”…

The post Brazil set to privatize lottery in December appeared first on Eastern European Gaming – News – Interviews – Legal Market Updates – Premium Reports – Events – Directory.

Advertisement


Source: EEGaming.

Amusnet

Amusnet Gears Up for the Inaugural SBC Rio 2024 in Brazil’s Newly Regulated Market

Published

on

amusnet-gears-up-for-the-inaugural-sbc-rio-2024-in-brazil’s-newly-regulated-market

 

Amusnet, a leading online slots and live casino content provider, announced its participation in the first-ever SBC exhibition in Brazil, SBC Rio 2024. This milestone event marks a significant moment for the iGaming industry in Brazil, following the country’s recent move to embrace regulation, opening new avenues for operators and content providers alike.

“The new regulatory framework in Brazil is a significant opportunity for leading online casino providers like Amusnet, and we are fully committed to becoming a key player in this vibrant market too. Our goal is to collaborate with all licensed operators in Brazil, providing them with high-quality, innovative gaming solutions tailored to meet the preferences of Brazilian players,” said Daniel de los Rios, Commercial Manager LATAM at Amusnet.

At SBC Rio 2024, Amusnet online casino selection will feature slot games, compiling the most-loved and well-performing titles, such as Hot Deco, Diamond Plus, Extra Crown, Phoenix Star, and Cocktail Rush. Among these, the spotlight will be on the exciting and innovative 20 Golden Coins, which stands out with its Bonus Coins and Reel Nudge features. Moreover, the festive reels of Dancing Dead will captivate visitors with its attractive theme and thrilling bonus features.

In the Live Casino vertical, Amusnet will bring its most popular live games, including Vegas Roulette 500x, Dynamic Roulette 120x, and Live European Roulette. Moreover, the company will unveil its upcoming games, Baccarat and Dynamic Sic Bo, designed with Asian elegance and featuring fast-paced gameplay. Both games will be hosted by entertaining live dealers 24/7, guiding players through the immersive gaming experience.

Advertisement

As the iGaming landscape in Brazil evolves, Amusnet is optimistic about its prospects in the market. The company anticipates a significant growth trajectory by the end of the year, driven by strategic collaborations and the introduction of tailored gaming solutions.

“SBC Rio 2024 is not just an exhibition for us; it’s a gateway to various opportunities in the Brazilian market. We are here to learn, share, and contribute to the burgeoning iGaming ecosystem in Brazil. See you there,” shared Daniel de los Rios.

Continue Reading

Digicode

Digicode Appoints Itai Zak as Executive Director for iGaming Division

Published

on

digicode-appoints-itai-zak-as-executive-director-for-igaming-division

 

Digicode, a leading provider of innovative software solutions, has appointed Itai Zak as Executive Director for the iGaming division. In this role, Itai will drive the growth and strategic direction.

With over 15 years of experience in the iGaming industry, Zak brings a wealth of knowledge and expertise to Digicode. He has a proven track record of successfully leading and scaling businesses in the online gaming sector, gaining experience as the CEO of SBTech, GoWild Gaming, and Spiral Solutions.

Under Itai’s visionary leadership, GoWild Casino not only seamlessly transitioned to a state-of-the-art iGaming platform but also achieved an astounding 450% increase in profitability, driven by Itai’s strategic expansion into new markets and his ability to build and lead a formidable team of over 300 professionals.

At SBTech, Itai was instrumental in redefining the company’s sales, marketing, and business development approach, transforming SBTech into a leading provider of turnkey sports betting and iGaming solutions. His efforts have helped grow the company from 60 to over 600 employees across multiple global locations, with significant year-on-year growth in net profit.

Advertisement

Itai’s appointment is a testament to the company’s commitment to innovation, excellence, and strategic growth within the iGaming sector. His proven track record in navigating complex regulatory environments, coupled with his forward-thinking approach to product and market strategy, positions Digicode for exciting advancements in its iGaming offerings.

“We are thrilled to have Itai Zak join our team. His deep understanding of the iGaming landscape and leadership skills will be invaluable as we continue to innovate and expand our foothold in this dynamic industry. Also, Itai’s proven track record in navigating complex regulatory environments, coupled with his forward-thinking approach to product and market strategy, positions Digicode for exciting advancements in its iGaming offerings,” Max Maslii, President and global CEO at Digicode, said.

In his new role, Zak will develop and execute Digicode’s iGaming strategy, focusing on driving revenue and growth. He will work closely with the product development and sales teams to deliver cutting-edge solutions tailored to the unique needs of iGaming operators.

“I am excited to join Digicode and lead their iGaming division. Digicode has a proven track record of delivering innovative software solutions, and I am eager to contribute to their continued success in the iGaming market,” Itai Zak said.

Advertisement
Continue Reading

City Center Online

Pragmatic Play Goes Live with City Center Online in Argentina

Published

on

pragmatic-play-goes-live-with-city-center-online-in-argentina

 

Pragmatic Play, a leading content provider to the iGaming industry, is enhancing its standing in Argentina and is now live with City Center Online.

Taking its leading Slots portfolio to the online casino, City Center Online’s players are now set to benefit from leading titles, including award-winning hits like Sugar Rush and Gates of Olympus as well as more recent releases from Pragmatic Play’s ever-expanding portfolio such as Pub Kings and Mustang Trail.

This latest agreement follows a series of partnerships that Pragmatic Play has struck across the regulated LatAm markets, combined with several regional industry awards, further cements its position as the leading supplier in Latin America.

Victor Arias, VP of Latin American Operations at ARRISE powering Pragmatic Play, said: “We are delighted to announce Pragmatic Play’s agreement with City Center Online as the brand continues its upward trajectory and supply even more LatAm operators with its acclaimed, industry-leading titles.

Advertisement

“With Pragmatic Play’s renowned slot library now live on the platform, we are confident they will be a hit with City Center Online’s players, and we look forward to see its content provision expanding even more in the near future.”

Samanta Zio, Online Gaming Manager at City Center Online, said: “The quality and brand recognition that is brought on by Pragmatic Play games cannot be understated and we are delighted to now offer its portfolio to our players.

“Underpinning our commitment to providing premium gaming experiences to audiences in Argentina, we are confident this partnership is a momentous win for City Center Online.”

Continue Reading

Trending