Category archives: Gambling

The prominent online sports betting and gambling platform, Stake.com, which utilizes digital currencies, has resumed operations following a recent theft.

On the 4th of September, malicious actors illicitly withdrew funds from Stake.com’s Ethereum, Polygon, and Binance Smart Chain (BSC) accounts.

Stake.com announced on X (formerly Twitter) that a few of their “hot wallets” were compromised, but reassured users that all funds were secure.

Stake.com further clarified that only the aforementioned wallets were affected, while other wallets, including Bitcoin, Litecoin, and Ripple, remained operational.

After investigating the incident, Stake.com issued another post on X five hours later, declaring that normalcy had been restored. They confirmed that all services were back online and that users could deposit and withdraw funds in all currencies. An apology was extended for any inconvenience caused.

Media reports suggest that Stake.com incurred a loss of approximately $41.3 million. While Stake.com has refrained from providing further details regarding the incident, members of the cryptocurrency community have corroborated this estimated figure.

Established in 2017, Stake.com has become a well-known online gaming site, attracting over half a million players globally. It operates in various nations, including Canada, Brazil, Japan, and the United Kingdom.

The platform has secured significant sponsorship agreements with sports groups, including a jersey sponsorship with the English Premier League team Everton.

Stake.com’s UK website, Stake.uk.com, is managed by TGP Europe and is authorized by the UK Gambling Commission.

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A major player in the online gaming industry, ComeOn Group, has deepened its roots in the lively Sliema, Malta community. The organization recently revealed an extension of its sponsorship deals with two cherished local athletic organizations: Sliema Aquatic Sports Club (ASC) and Sliema Wanderers Football Club.

This choice expands upon a fruitful collaboration that encompassed a joint promotional film launched last year. Daniela Vella, ComeOn Group’s Chief Operations Officer, emphasized the unique bond the company has with Sliema, as it housed their initial office space.

“Sliema holds a dear place in our hearts, as the site of our first office,” Vella stated. “Although we have relocated to the Strand, our alliance with these two clubs remains robust, mirroring our shared dedication to progress.”

She stressed the shared principles, particularly the feeling of ‘unity,’ saying, “Both teams personify values that deeply resonate with us, especially the notion of ‘togetherness.'” Vella also underscored ComeOn Group’s commitment to social responsibility, with an emphasis on staff well-being through programs like their Employee Assistance Program (EAP) which offers yearly health advantages.

Beyond athletics, ComeOn Group has made an impact with groundbreaking ventures like the “Nordic Ruby Lounge,” a distinctive, Scandinavian-inspired live casino studio providing players an exclusive and engaging gaming encounter. They’ve also made strategic decisions within the sector, such as designating Nicolas Jones as their Chief Commercial Officer.

The ComeOn Group is dedicated to elevating its sports wagering endeavors! They’ve recently appointed Nicholas Jones to spearhead this initiative as their Head of Trading.

Furthermore, they’re developing their own casino application programming interface entirely in-house, collaborating with the German gaming experts at Apparat Gaming.

As a final flourish, they’ve joined forces with NowBetNow, the masters of customization, to deliver a truly bespoke betting journey.

Churchill Downs Incorporated (CDI) recently celebrated the grand opening of a new Rosie’s Gaming Emporium in Emporia, Virginia. The Emporia venue features 150 thrilling Historical Horse Racing (HHR) terminals, offering patrons a taste of the track right in their backyard. Naturally, no Rosie’s would be complete without dining and beverage options, which this location provides. To commemorate the occasion, CDI made a substantial $25,000 contribution, divided among five local organizations.

This latest addition brings the total number of Rosie’s establishments in Emporia to a fortunate seven, with the company planning even more launches soon.

CDI has been making significant strides in the industry. In August, they acquired Exacta Systems, a prominent player in HHR technology. This $250 million acquisition is anticipated to bolster CDI’s position in the HHR market and enhance their operational efficiency.

Recall their collaboration with DraftKings in November 2022, which resulted in DK Horse, an independent application dedicated to equine wagering.

CDI’s focus extends beyond expansion to encompass safety. Following a series of equine injuries earlier this year, they temporarily suspended racing at Churchill Downs in June. This decision, made in conjunction with the Kentucky Horse Racing Commission (KHRC) and the Horseracing Integrity and Safety Authority (HISA), prioritized the well-being of the horses.

However, CDI’s momentum remains strong. They have ambitious projects underway, including a cutting-edge HHR entertainment facility in Daviess County, Kentucky. Exciting developments are on the horizon for CDI!

This location is poised to be massive! They’re installing those popular HHR devices everyone enjoys, along with a dedicated section for simultaneous broadcast horse racing. Naturally, dining establishments and taverns will be included, essential for maintaining the satisfaction of their patrons! This represents an astute maneuver for CDI, as their brick-and-mortar ventures are yielding substantial returns. In the preceding year alone, they generated nearly $1.6 billion, a significant surge compared to the previous period. And their earnings? Skyrocketing! We’re discussing exceeding $600 million in pure gain. This augmentation is merely the initial stride for them.

Catena Media, a firm specializing in marketing and lead acquisition, witnessed exceptional expansion in the preceding year, achieving a 73% surge in earnings. This remarkable accomplishment can be primarily credited to a sequence of tactical mergers and acquisitions that have enabled Catena to broaden its presence into fresh geographic territories and business segments.

The organization’s latest fiscal statement discloses a particularly robust second quarter, with earnings reaching €26.1 million (roughly $29.9 million). This contributes to an equally notable first-half showing, with earnings attaining €50 million (approximately $57.3 million), signifying a 65% upswing compared to the corresponding timeframe last year.

A principal catalyst for this triumph is the substantial increase in newly depositing clientele, which escalated by 59% to exceed 270,000. Catena’s calculated entry into the Italian marketplace through the incorporation of ASAP ITALIA, and its expansion within France with the procurement of ParisSportifs.com, a prominent French sports wagering platform, have both played a role in this growth.

Moreover, Catena’s venture into novel sectors like financial services is also propelling its achievements. The company’s acquisition of TheHammerstone.com, a US-based private capital services entity, and TheBull.com.au, a premium Australian stock exchange and news analysis portal, illustrates its dedication to diversifying its income channels and reinforcing its standing as a dominant force within the sector.

Caesars Entertainment recently published its final quarter and complete fiscal year 2023 financial results, showcasing a blend of outcomes. Although the overall annual performance remained robust, the true standout was their online division, which proved crucial in shifting the company back to profitability.

Within the fourth quarter, Caesars experienced a minor revenue climb, hitting $2.83 billion, a negligible rise compared to the corresponding period last year. Nevertheless, despite this expansion, they still declared a net deficit of $72 million for the quarter. The bright spot? This signifies a substantial enhancement compared to the $148 million deficit from the prior year.

Examining adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA), Caesars posted $930 million for Q4, marginally lower than the preceding year. However, the digital sector truly excelled, boasting a positive adjusted EBITDA of $29 million, a stark difference from the $5 million shortfall documented in the same timeframe last year.

Broadening the perspective to the entire year, Caesars Entertainment celebrated a 6.48% surge in net revenue, achieving a healthy $11.5 billion. Even more remarkable was their return to profitability, declaring a net income of $786 million, a notable turnaround from the previous year’s deficit. This success narrative was further emphasized by a strong showing in comparable store adjusted EBITDA, which witnessed a considerable year-over-year increase.

The online division of Caesars Entertainment has experienced a positive shift. Their final quarter earnings demonstrate a favorable adjusted EBITDA of $38 million, a substantial recovery from the $666 million deficit during the corresponding timeframe last year. This constitutes a considerable 105.41% rise year-on-year.

Chief Executive Tom Reeg ascribes this triumph to the robust results of Caesar’s online enterprises. He emphasized the company’s comprehensive expansion, with elevated net income, reduced net shortfalls, and consistent consolidated adjusted EBITDA for the concluding quarter. Caesar’s online net income surged by an extraordinary 28% year-on-year, attaining a 10% adjusted EBITDA margin. This digital upswing contributed to a noteworthy enhancement exceeding $700 million in adjusted EBITDA for the complete year, propelled by a 78% surge in Caesar’s online net income, approaching roughly $1 billion.

Solidifying their standing further, Caesar’s recently incorporated WynnBet’s internet gaming operations in Michigan via an accord with the Sault Ste. Marie Tribe of Chippewa Indians. This calculated maneuver permits Caesar’s to penetrate Michigan’s flourishing internet gaming sector and broaden its digital presence.

This alliance also provides Caesar’s enduring internet gaming market entry in conjunction with the Tribe, empowering them to manage a wider array of digital brands within the state.

Reviewing the third quarter of 2023, Caesars Entertainment declared $3 billion in earnings, a 3.4% uptick compared to the $2.9 billion produced during the parallel timeframe in the preceding year.

Brazils upper legislative body has approved regulations governing wagering on athletic events, setting the stage for a more regulated and potentially profitable sector. This action is anticipated to generate roughly R$1.65 billion (equivalent to US$332.3 million) in government revenue by the following year.

However, the measure still requires endorsement from the Chamber of Deputies before becoming law. If enacted, digital gambling platforms would face a 12% levy on their earnings, while fortunate bettors would see 15% of their gains claimed for taxes. Additionally, companies would need to obtain a license costing a hefty R$3 million to conduct business in Brazil.

Although sports betting itself received legal authorization in 2018, it has functioned in a somewhat ambiguous zone without official rules. This has resulted in a surge of betting firms keen to capitalize on the Brazilian market. This new legislation seeks to alter that by establishing a defined structure for internet-based gaming and wagering activities.

This is not the initial endeavor to impose order on the expanding industry. The Brazilian administration has been preparing the foundation with various regulations and stipulations for operators. For example, Decree No. 13,300, released by the Ministry of Finance, outlines the fundamental guidelines for operators aiming to provide sports betting services within the nation.

Brazil is taking concrete steps to oversee sports wagering, implementing strict regulations. The new laws outline the requirements for companies to operate within legal boundaries, including legal and financial obligations, technological infrastructure, and operational procedures. Safeguarding players and preventing money laundering are paramount concerns.

Beyond mere administrative procedures, Brazil is setting a high bar. Betting platforms must obtain certification from accredited laboratories and offer continuous customer assistance in the local language.

This initiative is not isolated but rather part of a broader effort to regulate the gambling sector. This includes the designation of Senator Angelo Coronel as rapporteur for Bill 3626/23, which seeks to establish a comprehensive regulatory structure for sports betting and internet-based gaming.

Boldplay has received the go-ahead to introduce its gaming portfolio to Peru! This exciting development follows the Peruvian government’s official implementation of online gaming regulations earlier this year.

This is a significant stride for Boldplay, enabling them to broaden their footprint in Latin America and connect with a brand new player base. Peruvian enthusiasts will soon have access to Boldplay’s varied catalog of over 100 games, encompassing slots, table games, and even scratch-off tickets.

Valli Fragoso, Boldplay’s CEO, expressed his excitement, stating that the company is delighted to be among the initial recipients of this license. He highlighted Boldplay’s dedication to delivering a premium and ethical gaming environment for the Peruvian market.

This announcement comes on the heels of another recent triumph for Boldplay: a collaboration with Novibet, further cementing the company’s upward path.

The collaboration between Boldplays and NuxGame is a significant event for both entities. It provides operators and users access to the complete collection of Boldplays games through a single integration process. This is substantial because it simplifies the acquisition of Boldplays games for operators. Moreover, the certification of Boldplays games in numerous European jurisdictions assures operators of receiving a superior product.

Regarding quality, Ecogra, a prominent regulatory compliance authority, has received authorization to function as an accredited testing facility in Peru. This marks a pivotal advancement for the iGaming sector in Peru, as it grants operators access to Ecogra’s comprehensive range of testing, auditing, and certification offerings. This will contribute to guaranteeing that the games provided in Peru are equitable and secure for players.

BGaming returns with an enhanced version of their popular game, introducing Lucky 8 Fusion™. This cluster-paying slot game elevates the original’s beloved elements with dazzling new scatters, free spins, multipliers, and the sought-after Buy Bonus and Chance 2x features.

Lucky 8 Fusion™ is rapidly gaining popularity due to its straightforward gameplay, engaging reward systems, and the possibility of substantial winnings. Central to the game is the Fusion™ mechanic, where aligning symbols merge to form higher-value symbols and activate bonus features.

The Fusion™ mechanic activates when four or more identical symbols appear adjacently, either vertically or horizontally, creating a cluster. A portion of the clustered symbols vanish, while the remaining symbols transform into an upgraded symbol. With nine symbol levels, the final payout depends on the level and quantity of merged symbols.

The highest-level symbol, attained at level nine, is the Scatter symbol, depicted as a shimmering number 8. This symbol pays in any position, and landing four or more on the reels initiates the Free Spins round. Scatter symbols can also materialize on the reels when a cluster of level eight symbols forms, resulting in a paid win and the generation of a Scatter symbol.

Players receive 15, 18, or 20 free spins when four, five, or six Scatter symbols land on the screen, respectively.

If four, five, or six dispersed icons appear on the spinning wheels during a complimentary spin round, they activate an exciting perk: five, eight, or ten gratis spins accordingly. However, here’s the captivating twist – throughout these complimentary spins, triumphant sequences do more than simply award prizes. They produce “grid multipliers” capable of doubling, achieving an astounding 128x multiplier, and these are employed to ensuing victories, potentially resulting in colossal payouts.

This high-variance game flaunts a maximum win of a remarkable €250,000 and a bountiful 97.25% return to player (RTP). It also integrates BGaming’s well-received “Purchase Bonus” and “Opportunity x2” features, providing players eager for substantial wins a shortcut to the eagerly awaited complimentary spins round.

Yulia Aliakseyeva, BGaming’s co-CPO, conveyed her enthusiasm about the game:

“We are delighted that the Merge Up™ mechanic is driving the newest addition to this collection. Lucky 8 Merge Up™ is crafted to provide an engaging gaming encounter that caters to both recreational players and live streamers alike. The merging mechanic underpinning this slot series draws inspiration from the latest trends in mobile gaming, and we trust the sense of advancement through various symbol tiers will resonate with players.”

Enhanced Collective concludes 2022 with impressive achievements! Their financial projections for the year have been revised upward due to an exceptional final quarter.

Recall their third-quarter earnings of €59.7 million (approximately $61.9 million)? Prepare yourself, because they are forecasting a remarkable €86.1 million for Q4 – a significant 63% surge! Their EBITDA is also soaring, estimated to reach €35.2 million, representing a 115% increase.

This exceptional performance translates to an anticipated total annual revenue of €2.69 billion for Enhanced Collective, a 52% rise. Their EBITDA is not far behind, projected to be around €85.1 million, a 53% climb. Initially, they predicted organic revenue growth between 20-30%, but they are now on track for an astounding 34%.

Several key elements contribute to this success story. Primarily, the US market is rapidly adopting revenue-sharing models, significantly benefiting Enhanced Collective. This is evident in their unprecedented Q4 revenue share income of €25 million, a 73% increase.

Jesper Søgaard, CEO and co-founder, aptly stated that despite the volatile global economy, they have sustained robust growth and are undoubtedly moving in the right direction.

Furthermore, just prior to this remarkable news, Enhanced Collective made a strategic move by acquiring over 5% of their rival, Catena Media. What a way to close out the year!

These industry giants have solidified their positions as dominant forces in the online gaming realm. Through numerous acquisitions, they have absorbed a significant portion of their rivals and are now asserting their dominance in the flourishing US digital gambling sector.

Despite the circumstances, Better Collective remains tight-lipped, content with the current state of affairs and hesitant to disrupt the equilibrium.

Sports wagering platform, BetParx, has partnered with the International Betting Integrity Association (IBIA). This collaboration integrates them into an extensive network encompassing over 45 organizations and an impressive 125 sports wagering operators.

A senior executive at BetParx, Matthew Cullen, stressed their commitment to ethical practices, stating that aligning with IBIA demonstrates their seriousness in maintaining the highest benchmarks within the sports betting industry. Their objective is to cooperate with other prominent stakeholders to guarantee a safe and transparent wagering atmosphere for all participants.

IBIA plays a vital part in preserving integrity. They employ mechanisms to detect any suspicious activities occurring within the betting markets of their members and promptly raise concerns. They collaborate closely with sports and wagering regulatory bodies, exchanging information to ensure that any unethical actors face consequences.

The CEO of IBIA, Khalid Ali, welcomed BetParx, emphasizing that their selection of IBIA as a guardian underscores their dedication to safeguarding their platform and the broader sports betting landscape from manipulation. He views BetParx as a significant addition, bolstering their presence within the rapidly expanding North American sports wagering sector.

Delighted to collaborate with BetParx and include them in our worldwide sports wagering honesty alliance.”

The Global Betting Integrity Organization (IBIA) published its yearly probity assessment for 2022, disclosing it effectively identified 268 questionable wagering actions to pertinent regulators. These endeavors yielded athletic or legal penalties against 15 athletes and administrators, with reprimands varying from temporary prohibitions to permanent exclusions.