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GVC Holdings cancels judicial review of FOBT decision despite £160m hit

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GVC Holdings cancels judicial review of FOBT decision despite £160m hitReading Time: 2 minutes

GVC, holder of Ladbrokes Coral, has plead for present time for the implementation of the new £2 stake for B2 Gaming Machines, knowing that it will cost the company around £160m as soon as the cut is implemented, and stated that in won’t be on the look for judicial review of the Department for Digital, Culture, Media and Sport’s decision.

In an update to the stock market, the company said: “Whilst we welcome the certainty provided by the announcement, we are disappointed with the outcome, particularly given the previous independent evidence on stake cuts published by both the Gambling Commission and the Responsible Gambling Strategy Board.

It is now important that the industry is given an adequate implementation period to help prepare and plan for the shop closures that will arise, including attempting to mitigate the impact of resultant job losses. Significant re-engineering of the machines and gaming software will also be required to effect these changes.

It added: “Today’s Government announcement marks the end of uncertainty on FOBT staking limits. As a responsible business, we re-iterate our commitment to work closely with the Government and our regulators to ensure that both our retail and online offerings are places where customers can enjoy gambling in a safe and secure environment. In order to achieve a positive and constructive working relationship, GVC confirms that it does not intend to seek a Judicial Review of the Triennial Review decision.

GVC said that their focus in the UK Retail operation over the last two years has been to create a business that is well placed to face these structural and regulatory headwinds. As such the firm expects to be able to reposition the business within two years following implementation, with an anticipated fully mitigated impact of c£120m on Group EBITDA secured by the end of this period. In the first full year the impact on Group EBITDA is anticipated to be in the region of £160m.

Therefore, we expect to retain a profitable and highly cash generative UK Retail estate,” it added. “Furthermore, our proven leading multi-channel expertise presents additional opportunities to drive online growth.

GVC reiterated that its offer for Ladbrokes Coral Group envisaged the possibility of a £2 maximum stake Triennial Review and today’s announcement has no impact on the minimum targeted synergies of at least £100m per annum.

It explained: “As part of the consideration paid for the acquisition of Ladbrokes Coral, GVC issued to each Ladbrokes Coral shareholder a Contingent Value Right (“CVR”) for each Ladbrokes Coral share that they held. The CVRs were constituted under a deed poll made by the Company (“CVR Instrument”), a copy of which can be found at www.gvc-plc.com.The value of each CVR, and therefore the value of any payment ultimately due from GVC to CVR holders, is directly linked to the outcome of the Triennial Review and certain laws enacted pursuant to it.

Whilst there is a formal process and methodology for determining the value of the CVRs, which GVC will adhere to, the CVR Instrument envisages that if legislation is enacted prior to 28 March 2019 reducing maximum stakes to £2, as announced by the Government today, this will result in each CVR having zero value. In such circumstances no payment would be required to be made by GVC to CVR holders and the CVRs would be automatically cancelled.

Source: sbcnews.co.uk


Source: European Gaming Media and Events

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Betsoft Gaming Partners with Casino Superlines

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Betsoft Gaming Partners with Casino SuperlinesReading Time: 2 minutes

Following a new partnership agreement, Betsoft Gaming will provide a selection of slot games to growing brand Casino Superlines.

The agreement covers an extensive range of RNG titles that have been approved for key regulated markets – including many from the perennially popular Slots3TM series.

Launched in April 2017, Superlines is a brand of Equinox Dynamic; its sister casinos Nordicasino, Africasino, and Spintropolis are also Betsoft customers.  Built around a generous bonus structure and access to 24/7 multilingual support, Superlines has, in the space of just twelve months, emerged as a popular destination for players throughout Europe and in the Nordic countries.

With the promise of VIP support, the biggest names in slots, and a strong promotional calendar, Superlines has attracted an extremely loyal and varied audience in a very short time,” explained Miguel Micallef, Account Manager at Betsoft.  “To keep all kinds of players engaged, and to offer something new to everyone, every visit, Superlines now needs to acquire and promote a portfolio of high-quality games from industry-leading brands.  Betsoft are pleased to be able to offer the right mix of quality and variety to meet the needs of their discerning player base.

The partnership arrangement also provides a path for new Betsoft games to be quickly and easily integrated to the Superlines platform.  Key titles will be prominently advertised as part of the brand’s player acquisition strategy, as Chief Marketing Office Arik Weiss explained:

Casino Superlines is a successful new brand: it has achieved wide exposure and attracted a lot of loyal players since its launch.  Those players see the Betsoft logo as a seal of quality, so by promoting Betsoft games in premium positions, we will be able to attract more of them to the best new titles, as well ensuring that we deliver a top-class gaming experience at every turn.

About Betsoft Gaming:
Betsoft Gaming develops innovative casino games for desktop and mobile.  Its portfolio of more than 190 RNG titles reaches players through partnerships with many of the iGaming industry’s leading operators.  Under the SLOTS3TM banner, Betsoft is elevating players’ expectations; these cinematic, true-3D slots blend rapid, gratifying gameplay with an audio-visual excellence more typical of movies and videogames.

An early entrant to mobile gaming, Betsoft launched the ToGoTM collection in 2012.  More recently, Betsoft revealed the ShiftTM environment, which supports truly cross-platform development at the same time as increasing performance, drastically reducing file size and streamlining integration.

Casino Manager, Betsoft’s comprehensive back-office platform, rolls reporting, management, marketing, promotion, and administration into a single compelling package.
Betsoft is headquartered and licensed to operate in Malta, and holds an additional license in Curacao.  Contact sales@betsoft.com or visit www.betsoft.com for general information and enquiries.

 

Source: Betsoft


Source: European Gaming Media and Events

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New Video Slot Red Rake Gaming: JUDGES RULE THE SHOW!

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New Video Slot Red Rake Gaming: JUDGES RULE THE SHOWReading Time: 2 minutes

The Valencian gaming company Red Rake Gaming surprises everyone with the launch of a new video slot machine with 3D graphics

 

“Judges rule the Show!” is coming to Red Rake Gaming. 3,2,1…Let the show begin!
Very special judges take control in this fun and lively video slot with 5×3 reels based on the programs with the highest audiences of all time where music and talent take centre stage. ‘Let’s go!!!

A microphone, a statuette, “Seven” symbols that shine like diamonds and 4 spectacular judges with their 4 buzzers form an explosive cocktail of prizes in every spin. And as if that wasn´t enough, through its “Judges rule the Show!” mechanics, each of the judges surprises the player with an incredible animation in 3D that leads to the function “ Sticky Wilds Judge Respin ”, thus offering more and more prizes. OhYeahhh!

Once again we can see in this new video slot that the work of the team of developers, illustrators and animators at the company Red Rake Gaming has really paid close attention to each and every detail in order to reflect realism and perfection in each symbol and animation. The result is truly marvellous. This is quality work at the highest level that has been the hallmark of this young and outstanding Valencian company since the outset.

 

About Red Rake Gaming:
Red Rake Gaming is a premium casino games developer which supplies its games to social and real money operators. Red Rake current portfolio contains +60 slots and +10 videobingos of top graphical and sound quality with unique and well balanced mathematics. Its content is certified for the Spanish and Italian regulated markets and the company plans to expand to several other jurisdictions during 2018. Red Rake’s games and RNG have been audited by several prestigious independent testing houses and are featured by a number of licensed operators.
For further information on the company, please visit: www.redrakegaming.com


Source: European Gaming Media and Events

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LeoVegas concludes partnership with Frank Andersson

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LeoVegas concludes partnership with Frank AnderssonReading Time: 1 minute

22, May, 2018 – LeoVegas has decided to conclude its partnership with brand ambassador Frank Andersson.

The partnership is being concluded in connection with the recent launch by LeoVegas of a new communication concept that is based on several brand ambassadors.

“We thank Frank for the years he has helped profile LeoVegas in Sweden. He has been a contributing factor behind LeoVegas’ strong growth in the Swedish market. LeoVegas has entered a new phase with several brands and greater breadth with more product categories. After a long and successful cooperation with Frank, it is now time to take the next step,” comments Gustaf Hagman, CEO of LeoVegas.

“I have concepts and ideas for developing my own games and want to focus more on this, so that will be the next step for me,” says Frank Andersson. “I had some great years with LeoVegas and want to thank LeoVegas for believing in me. We had a great time working together!”

 

About the LeoVegas mobile gaming group:

LeoVegas’ passion is “Leading the way into the mobile future”. LeoVegas is Sweden’s premier GameTech company and is at the forefront of using state-of-the-art technology for mobile gaming. In 2017 the company passed the threshold for being classified as a unicorn, i.e., a start-up valued at more than USD 1 billion. A large part of this success can be credited to an extreme product and technology focus coupled with effective and data-driven marketing. Technology development is conducted in Sweden, while operations are based in Malta. LeoVegas offers casino, live casino and sports betting, and operates two global and scalable brands – LeoVegas and Royal Panda – as well as a local, multibrand operator collectively referred to as Rocket X. The company’s shares are listed on Nasdaq Stockholm. For more about LeoVegas, visit www.leovegasgroup.com.


Source: European Gaming Media and Events

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