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MGM Resorts has reached definitive terms to acquire the technology platform of Tipico US, a deal managed by LeoVegas AB. As announced this morning, Tipico US technology platform will be merged with LeoVegas, advancing MGM’s plans to operate a “purpose-built proprietary sportsbook across all international markets and brands.” The acquisition marks LeoVegas’ second strategic investment to develop MGM’s new online …

New mandatory playing limit safeguards will be applied to the Dutch KOA market from 1 October 2024. The announcement sees the Dutch government conclude its consultation, initiated in December 2023 by outgoing Legal Protections Minister Franc Weerwind on new safeguards and preventative measures of the Remote Gambling Act (KOA Act).  The safeguards form part of a ‘new protective scheme’, in …

Tipico Sportwetten has announced that Axel Hefer will succeed Joachim Baca as Chief Executive of the DACH markets gambling group. The promotion follows Baca’s decision to end his eight-year tenure as Group CEO of Tipico, who will now serve as Chairman of the company. Baca was praised for his transformative tenure, maintaining Tipico as Germany’s biggest sportsbook, steering the company …

The Senate of Brazil has advanced plans to modernise laws governing the gambling disciplines of land-based casinos, bingo, horseracing, and the sale of jogo do bicho (instant win games). On Wednesday, the much-delayed Bill No. 2,234/2022 was approved by the Senate’s Constitution and Justice Committee (CCJ), securing 14 votes in favour and 12 against, advancing a federal project to modernise …

Gaming Innovation Group (GiG) has announced the spin-off of its Media unit, which will now operate under the standalone identity of ‘Gentoo Media’. This morning’s announcement sees GiG complete its corporate directive to split its Tech and Media units into separate businesses, as GiG Media becomes Gentoo. Investors were informed: “The rebrand marks a significant milestone in the company’s history …

Sports Media Entertainment BV has filed a further counterclaim against Entain Plc, stating that technical arrangements related to bonus costs and VAT exemptions had been infringed upon, negatively impacting the performance and valuation of BetCity.nl. The counterclaim is the latest development in the High Court of England & Wales dispute between Entain Plc and Sports Media BV and related associates …

Goldman Sachs has acquired 5.4% of Kindred Group, becoming the Stockholm-listed firm’s third largest shareholder as of 31 May. The trade bodes well for Française des Jeux’s (FDJ) M&A of Kindred, but Netherlands regulatory risks are real threat to how the deal will be finalised.  While all eyes this week were on French politics, Goldman Sachs acquired a 5.4% stake …

Armenia continues to modify its gambling regime, as Parliament has approved a package of new amendments to rectify existing laws related to gambling. Approved on Wednesday, 12 June, legislative changes will introduce new tax charges on ‘gambling winnings’, categorised as “large win” and “regular win” for customers. A “large win” is defined as any single win exceeding 5 million drams …

The formation of a new four-party coalition government in the Netherlands has brought sweeping changes across government departments.   As expected the change sees Franc Weerwind removed from his position as Minister of Legal Protections, overseeing the regulatory reform of Dutch gambling under the laws of the Remote Gambling Act (KOA).  Engaged in six months of negotiations, the Party for Freedom …

Entain Plc faces a pending lawsuit aimed at compensating institutional investors stung by the FTSE100 firm’s £585m penalty related to a bribery investigation of its former Turkish business by HMRC. Andrew Hill and Matthew Reach, the litigation team of London law firm Fox Williams, are preparing the claim against Entain “on behalf of institutional investors, targeting autumn 2024.” Fox Williams …