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OKTO and Light & Wonder drive cashless across the UK

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OKTO has agreed an exclusive partnership with leading cross-platform global games company Light & Wonder, Inc., to enable cashless payments on Light & Wonder Gaming Machines across the Bingo, AGC, LBO and Casino sectors.

Simon Dorsen, OKTO’s CCO stated: “This is another major success for OKTO and represents a ringing endorsement of both the performance and integrity which underpin the OKTO payment platform and its unlimited capabilities.

Light & Wonder is a hugely respected innovator and a leading player in the industry, and we are excited about our new partnership that empowers operators to introduce cashless payments on the Light & Wonder gaming machines across the different gaming and betting sectors.”

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He added: “Another important feature and a talking point in every customer meeting and conversation is the contribution OKTO makes to responsible gambling. OKTO payment platform is fully equipped with a safer gambling toolkit as well as a powerful RegTech API that manages all KYC, AML, and fraud queries, providing all the features that enable operators to remain compliant and uphold the highest standards of social responsibility.”

Wayne Ellard, VP Product Management at Light and Wonder added: “At Light & Wonder we are constantly looking at how we innovate and deliver added value for our customers and their players. We are delighted to partner with OKTO, integrating with their platform to enable our customers to take advantage of their cashless payment solution. We particularly support the focus on player protection, which builds upon our industry leading tools that are already available to our UK customers. We look forward to enabling this innovative cashless capability for our UK customers by the end of this year.”

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Compliance Updates

NJDGE Closes its Investigation of Evolution AB with No Further Action

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Evolution AB has been informed by the New Jersey Division of Gaming Enforcement (NJDGE) that it has conducted an investigation into allegations of misconduct by Evolution AB and that its investigation has been closed with no further action taken.

In November 2021 the NJDGE received a report prepared by an unidentified firm alleging misconduct by Evolution AB. Following receipt of the report, the NJDGE commenced a thorough investigation into the allegations to determine their validity.

The NJDGE found no evidence that Evolution sanctioned, promoted, permitted, or otherwise materially benefitted from its content offered by operators in any market that the NJDGE considers a prohibited jurisdiction.

Evolution also conducted an internal review, while concluding that its due diligence and compliance processes were sufficient, Evolution took the opportunity to enhance its processes. The NJDGE supports the enhancements that Evolution has made. The enhancements did not relate to any jurisdictional violations.

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The NJDGE’s investigation into this matter is closed requiring no further action.

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Industry News

Betsson Acquires Gaming Operator and Game Developer in the Netherlands

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Betsson announced that the Group has acquired Holland Gaming Technology Ltd, a gaming operator with a license in the Netherlands, and Holland Power Gaming B.V., a game studio that develops casino games for Holland Gaming Technology Ltd. The total consideration amounts to EUR 27.5 million on a cash- and debt-free basis and is financed with own liquid assets.

Holland Gaming Technology Ltd is a gaming operator, which holds a gaming license for casino games in the Netherlands and offers games through the websites www.goldruncasino.nl and www.goldruncasino .com.

Holland Power Gaming B.V. is a game development company in the Netherlands that supplies casino games exclusively for Holland Gaming Technology Ltd.

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The total consideration amounts to EUR 27.5 million, out of which EUR 16 million is paid upfront at closing, and deferred payments of EUR 9 million and EUR 2.5 million will be paid in six months and twelve months respectively.

The acquisition will over time contribute to a higher share of revenue from locally regulated markets and is in line with Betsson’s strategic ambition to deliver profitable growth through geographic expansion.

The acquisition is subject to post-closing approval by the Dutch gambling regulator KSA.

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eSports

Abios scales up esoccer offering through new data deal with Betinvest

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Through a new data partnership with Betinvest, Kambi subsidiary Abios gets access to an additional 4,650 matches of esoccer from the tournaments CyberLive!Arena (CLA) and Esport Pro Club (EPC). This allows Abios to power its partners with fast and engaging betting experiences, perfect for sportsbooks looking to capitalise on the combination of digital esports and analogue sports.

Last year, Abios released its esoccer offering featuring an odds feed, widgets and accompanying streams, creating an all-in-one betting experience. It proved to be a popular product for sportsbooks looking to increase live content after big events or during season downtime.

To increase coverage, create a more consistent offering and enable larger customer differentiation, Abios has partnered with sportsbook solutions provider Betinvest. Through the deal, Abios gets access to over 4,650 monthly events across CyberLive!Arena (CLA) and Esport Pro Club (EPC) tournaments.

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This allows Abios to price and provide data and streams for an increased number of events, making sure there is live content available in the sportsbook, even during breaks in the seasonal football season.

The events are played in EA Sports’ FC game, formerly known as FIFA, which allows two players to control teams of players on a high-tech, simulated football field. In its simplicity and likeness to football, the game and its esports segment cater to fans of both football and esports, making it a bridge connecting both worlds.

Dariia Petrus, Business Development Team Lead at Betinvest, says: “Looking forward, our partnership is poised for significant growth and innovation. We’ve established a solid base for collaboration, opening up a range of exciting opportunities for us to explore together. The synergy of our shared expertise and efforts sets this venture apart, making it a noteworthy endeavor. This collaboration goes beyond achieving shared goals; it’s about the enriching experiences and mutual growth we’ll achieve along the way. We’re genuinely excited about what lies ahead and eagerly anticipate the start of our joint efforts.”

Oskar Bonnevier Fröberg, Managing Director and Founder of Abios, comments: Abios has recently taken significant strides to facilitate our esoccer product reaching new heights. With proprietary modelling, access to best-in-class data sources and a team of esports experts, we’ve been able to build a reliable odds feed coupled with exciting bet offers.

To help us provide 24/7 content to partners across the globe, we’re thrilled to have Betinvest onboard. With the content they provide, we can ensure even higher flexibility and availability for our partners, ultimately leading to more differentiated and optimised sports betting offerings.”

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