iGaming Industry
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.
“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.”…
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Source: EEGaming.
BetConstruct, a global leader in the iGaming industry, is going to showcase its cutting-edge solutions at the highly anticipated Global Gaming Expo (G2E), taking place from October 7-10.
As the premier event for the global gaming industry, G2E serves as a hub for innovation, driving growth by bringing together industry professionals from around the world to foster business opportunities.
Taking place at The Venetian Expo in Las Vegas, this all-in-one event features both an education program from October 7-10 and an expansive expo hall running from October 8-10.
BetConstruct’s stand is 5230, where the team will showcase an exciting range of products, including the newly launched the Last Battle, a novel loyalty system that is the byproduct of BetConstruct’s commitment to innovation. The company will also demonstrate its comprehensive Sportsbook and Casino Suite, along with DECA, its next-level decentralised casino platform, and Umbrella, an AI-powered risk management solution. These offerings are designed to meet the needs of a diverse range of operators, ensuring seamless and engaging experiences for players across the regulated market.
Amusnet has announced its participation in the 23rd edition of G2E Las Vegas (Global Gaming Expo) at The Venetian Expo from October 7-10. As one of the largest expos globally, G2E provides a platform for the company to showcase products across its Online Casino, Live Casino, and Land-based verticals, positioning Amusnet as a prominent all-casino provider in the competitive iGaming industry.
“We are excited to attend G2E Las Vegas 2024 to present our latest online casino portfolio and Type S slot cabinets: our first-ever product series for Land-based casinos, designed to offer a competitive edge by combining Amusnet’s top-notch game portfolio with an immersive player experience. Our focus is on delivering solutions that maximize performance and cater to the evolving needs for both online and land-based casinos,” said Borislav Marinov, Head of Business Development, Land-based, at Amusnet.
Alongside its technical excellence, the premium Type S series showcases the company’s award-winning titles, including 20 Golden Coins, Extra Crown, Fruits & Gold, and Cocktail Rush. It also features Amusnet’s popular four-level bonus game, Jackpot Cards, along with other exciting features like Free Spins, Buy Bonus, Pick Me Bonus, and Symbol Upgrade.
Amusnet will host an activation featuring its premium slot cabinets at the upcoming expo, offering attendees the opportunity to experience the thrill of Type S in real time and win exciting gifts.
SoftGamings, the market leader in iGaming solutions and services, announced the arrival of the Tobique Gaming License on the market. The move reflects the company’s commitment to enhancing regulatory compliance and expanding its footprint in the competitive iGaming industry.
Tobique Gaming, managed by the Tobique First Nation in western New Brunswick, Canada, oversees the issuance of online gambling licenses through the Tobique Gaming Commission (TGC) — a regulatory body established under the Tobique Gaming Act of 2023. This initiative is known for its stringent standards and emphasis on responsible gaming. Furthermore, it promotes economic development within the Tobique First Nation community.
The Tobique Gaming license provides operators an entry point into the online gaming and gambling industries. With it, businesses and iGaming operators can conduct operations in various global regions and offer multiple services, from betting to casino games and lottery promotions. The best of all is the streamlined application process, which lasts only 4 to 6 weeks.
SoftGamings is fully prepared to support clients and those interested in obtaining this license. Leveraging its innovative technology and diverse game portfolio, SoftGamings is ready to support clients in navigating the application process and leveraging the benefits of the Tobique Gaming License. The company’s comprehensive services include game development, casino management systems, and payment integrations, making SoftGamings a preferred partner for numerous operators and developers worldwide.
Consequently, helping the clients obtain the Tobique Gaming license and being an entry point represents a significant milestone in SoftGamings’ ongoing efforts to refine its service offerings, maintain the highest standards of gaming integrity, and bolster its regulatory standing. As the company moves forward with this licensing process, it anticipates a positive impact on its operations and continued success in delivering exceptional gaming solutions to its global clientele.
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