Industry News Round-Up as Entain Agrees Mega Settlement
As we move into the final month of the calendar year, it appears that the gambling industry still continues to thrive, with next year unlikely to slow down.
The latest development and biggest, latest story though, features the fallout between UK gambling conglomerate Entain (previously GVC Holdings), with the company agreeing to a £585 million settlement following a HMRC investigation into bribery.
This dates back to 2017 when it agreed to sell its Turkish business, Headlong, which roused suspicions of illicit activity.
With the case now settled, board members are keen to put this chapter behind them as it continues to perform in the UK market. Arguably one of the biggest online gambling entities in the world, Entain owns mega brands, Coral, Ladbrokes and Bwin.
Atlantic City continues upward trajectory
The highly popular gambling resort of Atlantic City in New Jersey, second only to Las Vegas in the US, has witnessed a strong third quarter, with revenue continuing to rise, specifically courtesy of two casinos.
Both Hard Rock Casino and Ocean Casino Resort have been fundamental drivers in the performance of the East Coast resort, with the former reporting profits of $44.3 million.
Meanwhile, the latter was a shade under this with figures of $43 million - an increase of 13 per cent. This comes a year after key investment in the resort which added new hotel rooms, as well as undergoing a somewhat of a makeover.
It will be interesting to see how Atlantic City performs heading into the new year, and no doubt, there will be key plans from the resorts to continue to attract new and repeat customers.
Swintt Inks Betsson Deal
Emerging software provider Swintt has continued to bolster its presence across Europe following a content deal with Betsson’s Gutts Casino in Malta.
It is a deal which will see the operator onboard a significant percentage of Swintt’s hugely impressive portfolio of games, as it continues to increase its growing reputation in the industry.
The news has been greeted with enthusiasm by both parties as they seek to focus on developing a symbiotic partnership that can be beneficial for both entities in the long term.
NetWin and Wazdan join forces
Leading casino game developer Wazdan has penned a deal with NetWin casino for the Italian market as both look to expand their authority in this growing market.
Under the terms of the deal, it means the Wazdan will roll out its increasingly growing portfolio of casino content, with the games that it has developed being hailed as cutting edge by industry commentators.
Over the last year, the Italian market has grown at a rapid pace and it appears that Wazdan may just have timed this move right.
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