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Las Vegas Sands is not going to open casino in North Korea

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Las Vegas Sands is not going to open casino in North KoreaReading Time: 2 minutes

US casino operator Las Vegas Sands denied the reports that it is going to start a gaming venue in North Korea.

It was reported earlier that the company is planning a North Korean venture. Sheldon Adelson, the company boss, hinted in meeting in Jerusalem, where he was born, that the recent dialogue between the US and North Korean governments could pave the path to open business opportunities in Korea. These are his exact words:

“I wasn’t born here. I wasn’t raised here, I didn’t serve in the army here. I did serve in the United States Army. I’m a veteran of the Korean War. Actually, I hope Trump gets North and South Korea to finish the war. I feel as though I might be called back up. I fight enough. I don’t want to go back to Korea to fight. I want to go back to Korea to open up my business.”

Numerous gaming media outlets have since claimed that Adelson was referencing Sands’ ambition to establish a North Korean casino.

You will notice that Adelson’s comments above do not specify which Korea he’s eyeing for planting his casino flag. And while North Korean leader Kim Jong-un may have toured Sands’ Singapore property Marina Bay Sands ahead of his summit with US President Donald Trump – and Adelson has an on-again/off-again relationship with Trump – Adelson is a savvy businessman whose history offers no evidence of the recklessness that would be required to invest the millions (or billions) in a jurisdiction as volatile as North Korea.

Sands has repeatedly expressed interest in establishing a South Korean casino property, specifically floating plans for resorts in Incheon and Busan. However, Sands stipulated that it would not build in South Korea unless the company relaxed its ban on local residents entering the vast majority of the nation’s existing casinos.

Since North Korea’s alleged casino plans specifically refer to an international tourist zone, it is extremely dubious that Sands would be willing to relax its local’s requirement for the North when it would not do so in the South’s far more stable legal climate.

So, while it makes for a good headline, the idea of Sands establishing a North Korean casino is about as likely as Kim Jong-un and Trump wife-swapping to celebrate the de-nuclearisation of the Korean peninsula.

 

Source: CalvinAyre.com


Source: European Gaming Media Latest News

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Buzz Bingo and Playtech launch groundbreaking platform

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Buzz Bingo and Playtech launch groundbreaking platformReading Time: 4 minutes

 

Leading gambling technology specialist Playtech has partnered with Buzz Bingo to deliver a ground-breaking content delivery and CRM solution across both Bingo and Casino, integrating their award-winning IMS player management platform.

Playtech has collaborated closely with Buzz Bingo since the brand’s high-profile launch earlier this year, offering players a range of Bingo variants and a wide selection of Playtech Casino content. Backed by the industry-leading IMS platform, the solution includes a comprehensive CRM toolset, with Playtech’s new Engagement 360 platform giving Buzz Bingo the power to design and fully optimise end-to-end player journeys.

Additionally, integration with the Playtech Open Platform (POP) gives Buzz Bingo access to an exceptional range of original and third-party game content. With several major content providers on board from day one and many others launching soon, Buzz Bingo players can choose from one of the industry’s widest selections of Bingo variants and Casino slot games.

The next stage of the project is the synchronisation of Buzz Bingo’s retail and online offerings to create a true omni-channel experience, including a full retail player account base migration to IMS. The move will allow players to use their retail accounts to play online, and vice versa, using a single wallet for all channels, whilst also creating a single customer management and CRM activity view for Buzz Bingo.

Shimon Akad, Chief Operating Officer at Playtech, comments: ‘The launch of the Buzz Bingo platform is the most ambitious project our team has delivered to date. A huge amount of work has gone into delivering a comprehensive ‘day one’ experience, including a rich third-party games offering, from both a Bingo and Casino perspective. With further technical enhancements to come and with a series of major third-party content providers already on board, we’re confident that this is the beginning of a long and fruitful relationship with Buzz Bingo’.

Chris Matthews, CEO at Buzz Bingo, adds: ‘It’s fantastic to see all the amazing work that has gone into this project come to fruition. Our collaboration with Playtech allows us to offer one of the widest selections of Bingo games and slots in the market, as well as delivering an enhanced player journey across our physical venues and online.

‘Delivering and implementing the new platform has been a major undertaking, but the commitment and professionalism of the Playtech team has made it a smooth experience – and we’re delighted with the results. The wider Buzz Bingo team and I are looking forward to continuing to work with Playtech as we take the platform to the next stage’.

Find out more about Buzz Bingo at www.buzzbingo.co

 

About Playtech:

Founded in 1999 and premium listed on the Main Market of the London Stock Exchange, Playtech is a technology leader in the gambling and financial trading industries.

Playtech is the gambling industry’s leading technology company, delivering business intelligence-driven gambling software, services, content and platform technology across the industry’s most popular product verticals, including casino, live casino, sports betting, virtual sports, bingo and poker. It is the pioneer of omni-channel gambling technology through its integrated platform technology, Playtech ONE. Playtech ONE delivers data-driven marketing expertise, single wallet functionality, CRM and responsible gambling solutions across one single platform across product verticals and across retail and online.

Playtech’s partners with and invests in the leading brands in regulated and newly regulated markets to deliver its data-driven gambling technology across the retail and online value chain. Playtech provides its technology on a B2B basis to the industry’s leading retail and online operators, land-based casino groups and government sponsored entities such as lotteries. As of June 2018, through the acquisition of Snaitech, Playtech directly owns and operates the leading sports betting and gaming brand in online and retail in Italy, Snai. Snaitech operates a B2B2C model as a service provider, allowing franchisees to utilise the Playtech technology stack in in the retail environment while operating the leading brand, Snai, directly online as a B2C business.

Playtech’s Financials Division, named TradeTech Group, is a technology leader in the CFD and financial trading industry and operates both on a B2C and B2B basis.

Playtech has in total c.5,800 employees across 17 countries and is headquartered in the Isle of Man.

 

About Buzz Bingo:

Buzz Bingo is the largest retail bingo operator in Britain and launched buzzbingo.com in September 2018. Backed by Caledonia Investments plc, Buzz Bingo runs its clubs and website from its Nottingham and London headquarters.

From brand name research through to market intelligence and the best way to build online communities, Buzz Bingo was developed with customer needs guiding every decision made. This approach has resulted in new, exciting, accessible ways for customers of all ages to play and engage with each other both on and offline.

Buzz Bingo’s community is home to over 1.1 million active club members and every week, 103 clubs welcome 200,000 players through their doors.

buzzbingo.com is an omni-channel platform delivering gaming and player engagement capabilities on mobile, tablet, desktop and on Touchpads in all clubs. There are no wagering requirements at buzzbingo.com so players can withdraw their winnings instantly.

Buzz Bingo began a rebrand from Gala Leisure Ltd in May 2018 following the sale of Ladbrokes Coral Group Plc’s retail clubs to Caledonia Investments plc in December 2015. Since then 103 clubs have been rebranded, including 98 in September alone. 19 remaining clubs will reopen in February 2019 under the new name, completing the rebrand.

Galabingo.com and its associated Gala Bingo online brands remains the property of GVC Holdings PLC.


Source: European Gaming Media

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iSoftbet challenges players to master the mystical ways of The Dalai Panda

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iSoftbet challenges players to master the mystical ways of The Dalai PandaReading Time: 2 minutes

 

Latest creation from premium provider contains innovative multi-reel play with central character guiding players along their journey

 

iSoftBet, the market-leading online and mobile casino software provider, has unveiled its most innovative video slot creation to date, The Dalai Panda.

The highly original game is centred around the infinitely wise Dalai Panda, who uses his mystical powers to magically manipulate the reels if he senses bigger wins are possible, leading to a paw-dropping 729 ways to win.

The Dalai Panda comprises two separate reels that spin simultaneously giving players double the chance to win. The game’s central character is an able ally, guiding players along their spiritual slot journey, regularly filling the Free Spins Bank at the centre of the screen, and producing a series of game-enhancing bonus features including Extra Wilds, Extended Wins, Wild Reels and Win Multipliers.

If three or more Bonus symbols hit the reels, the Free Spins feature triggers, causing the reels to come together to form an enlarged single reel-set with hundreds of pay-ways.

The Dalai Panda sits in the middle-to-high range of the volatility scale and delivers a payout of 95.81% for normal spins, with a hit rate of 27.9%. The game is available on all devices.

iSoftBet has been shortlisted for the Game Developer of the Year award at this year’s SBC/Casino Beats Awards that take place in London on 4th December 2018.

Michael Probert, Chief Commercial Officer at iSoftBet, said: “The Dalai Panda is one of our most innovative developments to date, and offers a unique and highly enjoyable experience.

“Focussing our game around the wisdom of the Dalai Panda, and having a title character that actively helps players along their user journey, we are sure that this will be one of our biggest hits.”

 

About iSoftBet

iSoftBet is a premium online and mobile casino software and games supplier, providing leading gaming products to some of the world’s largest and most successful brands. With extensive experience and a comprehensive selection of best-performing games, iSoftBet is at the forefront of innovation and our tailor-made solutions are designed to meet our operator partners’ every need.

Our games suite includes a wide range of unparalleled proprietary video slots, table games, exclusive branded games from some of the world’s largest TV and movie production companies such as 24 and Paranormal Activity, and an advanced Game Aggregation Platform (GAP), allowing iSoftBet to offer online casinos rapid, one-time integration to more than 30 of the industry’s leading online and mobile game software providers. iSoftBet games are built with using the latest technology including HTML5 desktop and mobile compatible software.

The iSoftBet offering includes a comprehensive back office system allowing operators to create bespoke promotions, offer a wide range of player bonuses and rewards, as well as harvest and track real-time game performance data. iSoftbet is committed to responsible gaming and complies with the most stringent global regulatory bodies. We are licensed in the UK and Alderney and are approved to distribute content in multiple regulated markets including Belgium, Italy, Spain, Portugal and Romania.


Source: European Gaming Media

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Cherry acquires remaining shares in Game Lounge

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Cherry acquires remaining shares in Game LoungeReading Time: 2 minutes

 

Cherry AB (publ) (“Cherry”) – STO: CHER-B.ST – has signed an agreement to acquire the remaining shares in leading affiliate company Game Lounge Sweden AB (“Game Lounge”), thus gaining 100-percent ownership.

 

Cherry currently owns 95 percent of Game Lounge, which in turn owns 100 percent of Game Lounge Ltd. Cherry has signed an agreement to acquire the remaining 5 percent of Game Lounge. The purchase consideration consists of three parts and can amount to a maximum SEK 260 million.

The first part of the purchase consideration is fixed and amounts to SEK 100 million to be paid in cash when Cherry gains control of the shares. The second part of the purchase considerations amounts to SEK 60 million and is conditional on Game Lounge’s consolidated EBITDA for the period 1 January 2019 to 30 June 2019 exceeding SEK 90 million. In the event that the target of SEK 90 million is not reached as per 30 June 2019, the measurement period will be extended until 30 September 2019, at which time, Game Lounge’s consolidated EBITDA shall amount to at least SEK 150 million. The third part of the purchase consideration amounts to SEK 100 million and requires Game Lounge’s consolidated EBITDA to exceed SEK 300 million for any consecutive four calendar quarter period between 1 July 2019 and 31 December 2021, or between 1 October 2019 and 31 December 2021 in the event that the measurement period for the second part of the purchase consideration is extended in accordance with the above. Cherry is entitled to pay all or part of the second and third parts of the purchase consideration in Class B shares in Cherry.

The sellers are employees of Game Lounge. Against this background, the acquisition constitutes a so-called related-party transaction and must therefore be approved by a general meeting in Cherry. Cherry’s Board of Directors will prepare a written account of the acquisition and obtain an independent valuation statement (fairness opinion) regarding Game Lounge.

The operations in Game Lounge have developed well and Cherry’s Board of Directors makes the assessment that the company will continue to enjoy favourable market conditions into the future and that it is therefore desirable to increase Cherry’s holding to 100 percent. The sellers will remain in their senior positions, are shareholders in Cherry and also participate in incentive program within the Cherry Group. Accordingly, the Board of Directors assesses that the terms of the acquisition, including the purchase consideration, are in line with the market and will therefore recommend that Cherry’s Annual General Meeting approve the acquisition in accordance with the principal terms above.

 


CHERRY IN BRIEF:

Cherry is an innovative and fast-growing gaming company with operations in gaming, media and entertainment.
The company was founded in 1963 and today, Cherry operates through five diversified business areas: Online Gaming, Game Development, Online Marketing, Gaming Technology, and Restaurant Casino. The Group’s objective is to grow organically in combination with strategic acquisitions of fast-growing companies. Cherry employs some 1,400 people and has about 9,250 shareholders. The company’s class B share is listed on the Nasdaq Stockholm exchange, Mid Cap segment. More information is available at www.cherry.se.


Source: European Gaming Media

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