iGaming Industry
Cyprus bets on gaming to boost its tourism
Cyprus is experiencing nothing short of a tourism revolution. And, the gaming industry is leading it. Casinos have become one of the island’s major providers as a part of the new tourism strategy which aims to double visitor arrivals, triple its revenue and attract over €20bn of investment by 2030.
The hospitality sector is undergoing the most comprehensive reformation since it gained independence in 1960. Following the steps of its Mediterranean sister island of Malta, Cyprus has embarked itself on an ambitious policy that targets to place gaming as the flagship of economic growth.
Last autumn, a bill was passed that would allow the construction of the first land-based casino in the island. Giant casino operators Melco and Hard Rock have won the €600m bid for this unique integrated project. The group of investors received the necessary consent earlier this summer and they have already started construction work. However, Hard Rock exited the venture and the local partner CNS Group joined efforts with the Hong Kong-listed firm.
The luxury casino, expected to be operational by 2019, will feature a main resort in the city of Limassol and fours smaller satellites in the Niconisia, Famagusta, Larnaca, and Paphos. Europe’s first integrated project will include 500 guest rooms, 100 gaming tables and at least 1,000 gaming machines
This colossal casino would turn into one of the country’s tourism key players, bringing a rejuvenation of the urban environments. Despite substantial gaming taxes and licensing revenue that casinos generate for governments, it is estimated that individually each casino visitor spend twice as much as those who do not attend casinos. This stress the great aid that such developments would bring to Cyprus’s tourism.
Regarding iGaming, the country has been slowly opening up its borders for online operators. Back in 2012, the government of Cyprus approved a framework that would allow sports betting companies operate in the Cypriot market. However, it was not until 2016 when Cyprus’ National Betting Authority (Εθνική Αρχή Στοιχημάτων) started accepting license applications.
In November 2016, online operator bet365 became the first one to be granted a license. Currently this sector reported revenue of €3,466,230 during the first three months of 2017, according to official sources.
Nevertheless the recent opening, Cyprus still holds a high-regulated market. By August 2017, over 2,500 domains belonging to unlicensed operators were added to the blacklist. In addition to the 10% tax on revenue, the National Betting Authority has not been keen on giving online permissions.…
The post Cyprus bets on gaming to boost its tourism appeared first on Eastern European Gaming – News – Interviews – Legal Market Updates – Premium Reports – Events – Directory.
Source: EEGaming.
Supremeland Gaming, the emerging brand in American iGaming, announced the approval of an interim Supplier License in West Virginia, further solidifying its position as a key player in the rapidly expanding iGaming industry. This milestone marks the company’s third approval following the successful acquisition of the first approvals in Pennsylvania and New Jersey.
Supremeland Gaming is approved to operate under this interim license and is now authorized to offer its cutting-edge innovation to the Mountain State.
Supremeland’s game portfolio has garnered international appeal since its debut in November 2023. The innovative brand promises cutting-edge slot play, combining immersive storytelling, state-of-the-art graphics, and impressive bonuses.
Rickard Öhrn, CEO of Supremeland Gaming, said: “The acquisition of our interim Supplier License in West Virginia is a pivotal step in our journey, reflecting on our dedication to delivering innovative experiences to a broader audience. As we expand our footprint, our commitment to excellence remains unwavering, and we look forward to contributing to the vibrant gaming landscape in the Mountain State.”
Supremeland is gaining traction for its emerging portfolio of top-notch games, including Red Panda Rising and the international debut title, Munition Mine, underscoring its commitment to pushing the boundaries of innovation in the iGaming industry.
Pragmatic Play, a leading content supplier to the iGaming industry, is continuing its momentum in the Latin American market, after signing an agreement to take its three biggest products live with Betsala.
The agreement will see Pragmatic Play’s full portfolio of award-winning Slot content go live, including recently released Slot titles Loki’s Riches and The Big Dawgs in addition to familiar player-favourites such as Sugar Rush and Gates of Olympus.
Betsala customers will soon gain access to Pragmatic Play’s Live Casino products upon integration being completed. The sector has been a focus for the provider over the previous 12 months with releases such as the dynamic Treasure Island game show which complements Pragmatic Play’s comprehensive range of casino classics such as Roulette, Mega Roulette, and Blackjack which are also available on the platform.
Completing the product offering is Pragmatic Play’s cutting-edge 3D renderings of popular sports such as horse and greyhound racing, football, and motorsports.
The latest LatAm development for Pragmatic Play sees it further boost its profile across the region where it has cemented its status as a leading supplier of casino experiences.
Victor Arias, Vice President of Latin American Operations at ARRISE powering Pragmatic Play, said: “Proving LatAm is still a key source of growth, Pragmatic Play is delighted to now count Betsala as another valued partner in the region.
“Pragmatic Play’s three leading products will soon be on the platform, and we look forward to even more players discovering its robust and engaging offering.”
Albert Bellavista, CEO at Betsala, said: “Pragmatic Play has built a stellar reputation across Latin America for its high-quality experiences, and we welcome them as our latest partner to bolster our offering and provide more thrills than ever.
“Most iGaming enthusiasts worldwide are already familiar with Pragmatic Play’s titles and we know the upcoming addition of its content will come with a great response from our players.”
Pragmatic Play, a leading content supplier to the iGaming industry, is set to make another appearance at a Latin American summit, at SAGSE LATAM in Buenos Aires.
Taking place across two days from March 20th-21st, the event sees iGaming professionals gather at Buenos Aires’ Hilton Hotel for the 32nd edition of the iconic exhibition.
SAGSE LATAM marks the second summit attended by Pragmatic Play in Latin America in 2024, with its new immersive proposal Pragmatic Play Experience, after an extremely successful exhibition tour in 2023, which saw the provider make inroads across the continent and impress industry representatives.
The gaming provider will be at Stand 120 to showcase its diverse portfolio, including Slots, Live Casino, Virtual Sports and Bingo content, alongside its brand-new Sportsbook solution.
In addition, Pragmatic Play will be a platinum sponsor of the event, highlighting the importance of such industry exhibitions and the vital role the leading provider plays in them.
Victor Arias, VP of Latin American Operations at ARRISE powering Pragmatic Play, said: “Pragmatic Play is proud to be a platinum sponsor of SAGSE LATAM and to be influential in shaping the future of the Latin American iGaming market. With a comprehensive multi-product offerings and solutions, it is poised to capitalise on the immense opportunities that the region presents.
“With an exciting range of panel discussions and interactivities that the conference brings, it is set to be yet another momentous date in the LATAM gaming calendar.”
Endorphina releases its newest title – Jolly Queen!
Kambi Group’s AI-powered trading division Tzeract enters into Bet Builder partnership with European operator kwiff
Exclusive Q&A w/ Steven Paton, Commercial Director at Wise Gaming
Xpoint Launches Groundbreaking New Product to Reduce Geolocation Costs for Operators
ITL Spain head to Madrid for the largest gaming exhibition in the Spanish calendar
Week 14/2024 slot games releases
Bragg Gaming Announces Resignation of Chief Financial Officer
Paddy Power launches new innovative Checkd Dev betting tool Mix ‘N Match
PRAGMATIC PLAY SLOTS LIVE VIA FEG IN CZECH REPUBLIC AND SLOVAKIA
Wazdan coronates energy efficiency in Hot Slot™: 777 Crown Extremely Light
-
gaming2 years agoODIN by 4Players: Immersive, state-of-the-art in-game audio launches into the next generation of gaming
-
EEG iGaming Directory7 years ago
iSoftBet continues to grow with new release Forest Mania
-
News6 years ago
Softbroke collaborates with Asia Live Tech for the expansion of the service line in the igaming market
-
News5 years ago
Super Bowl LIII: NFL Fans Can Bet on the #1 Sportsbook Review Site Betting-Super-Bowl.com, Providing Free Unbiased and Trusted News, Picks and Predictions
-
iGaming Industry6 years ago
Rick Meitzler appointed to the Indian Gaming Magazine Advisory Board for 2018
-
News5 years ago
REVEALED: Top eSports players set to earn $3.2 million in 2019
-
iGaming Industry6 years ago
French Senator raises Loot Boxes to France’s Gambling Regulator
-
News6 years ago
Exclusive Interview with Miklos Handa (Founder of the email marketing solutions, “MailMike.net”), speaker at Vienna International Gaming Expo 2018
