Tomorrow is set to see couples around the world celebrating their love via this year’s edition of Valentine’s Day and Czech online casino games developer Endorphina Limited is getting in on the act with the launch of its new Cupid video slot.
The Prague-headquartered firm used an official Wednesday press release published by European Gaming Media and Events to declare that its latest five-reel and 20-payline advance invites aficionados to join a winged cherub as ‘he brings true love to the people who need it’. However, the innovator also stated that this is a ‘secret mission’ so players are almost certain to feel the thrill and excitement of ‘hiding and seeking and shooting arrow after arrow’.
Endorphina Limited detailed that the three-row Cupid video slot is its second release of 2021 following last week’s premiere of its five-reel and 50-payline Golden Ox game and features an eponymous wild symbol as well as a scatter represented as a heart. It furthermore proclaimed that ‘only the highest wins are paid’ in this mobile-friendly love extravaganza while gathering a minimum of three scatters will grant players access to a free spins bonus round where up to 20 extra attempts await.
Kirill Miroshnichenko from Endorphina Limited used the press release to assert that the free spins bonus game in Cupid could reward lucky competitors with lucrative prizes involving their overall stake multiplied by a figure listed on one of the scatters. He moreover pronounced that ‘adventurous love hunters can enjoy a risk game as well’ so as to mimic their aerial iGaming protagonist in awarding ‘more chances for love and happiness’.
Read a statement from Miroshnichenko…
“We decided to make this Valentine’s Day unforgettable. I’m so happy to announce our new title, Cupid. No matter if you are single or in a relationship, our Cupid will be a good companion for you.”
Only three weeks after launching its Mayan Rush video slot, Dutch online casino games developer Stakelogic has now returned to herald the premiere of its new three-reel Mighty Joker Arcade innovation.
The Eindhoven-headquartered firm used an official Thursday press release to describe its latest game as ‘a retro slot machine’ that allows iGaming aficionados to ‘take on the joker’ in an attempt to win prizes that can reach as high as €12,000 ($14,540). It also stated that the three-row title has been designed to recreate ‘the dusky and atmospheric gaming floor of a traditional casino’ and comes complete with a theoretical return to player ratio of 95%.
Stakelogic proclaimed that Mighty Joker Arcade features ‘a base game as well as a top game’ with the former paying out in the customary left to right fashion alongside the latter with a criss-cross method ‘for plenty of big win potential’. It moreover asserted that players can sit down for a session on the mobile-friendly innovation in hopes of taking home ‘a progressive mystery jackpot’ that starts at €500 ($606) before topping out at €5,000 ($6,060) via taking on 0.5% of any wagers placed.
Stephan Van Den Oetelaar serves as Chief Executive Officer Stakelogic and he used the press release to state that Mighty Joker Arcade additionally offers a traditional family of fruit symbols as well as ‘start’, ‘tails’, ‘heads’, ‘collect’ and ‘hold’ buttons that allow competitors ‘to control the game’ and its mystery wins and gamble bonus option.
Read a statement from Van Den Oetelaar…
“Mighty Joker Arcade is a thrilling classic slot that hits the highest possible production value while also providing players with plenty of chances to land big wins in the base game, top game, and via the progressive jackpot. We believe Mighty Joker Arcade will appeal to fans of classic slots in markets around the world and deliver the thrilling and exciting experience they are seeking each time they spin the reels and watch the fruit, bell, and joker symbols tumble.”
The value of individual shares in Maltese online wagering technologies innovator Kambi Group dropped by almost 4.16% earlier today to approximately $54.93 following news that the firm’s founder had offloaded a significant slice of his shareholding.
The Valletta-headquartered firm used an official Thursday press release to declare that the move from Anders Strom (pictured) saw 2.2% of its shareholding offloaded ‘to Swedish and international institutional investors’ courtesy of ‘an accelerated book-building process’. The Nasdaq Stockholm-listed company moreover revealed that these 675,000 stocks had come with an individual price tag of about $55.56 to earn the iGaming pioneer gross proceeds of slightly over $37.53 million.
Kambi Group explained that 50-year-old Strom, who announced late last year that he would not be seeking re-election as its non-executive chairman, had conducted the sale through his Veralda Investment Limited vehicle and now holds roughly 17.5% of its shares. It also proclaimed that this residual shareholding is to become the subject of ‘a customary lock-up’ that is to last for 90 days from the settlement date.
Read a statement from Strom…
“I am very pleased to see the overwhelming interest from both current and new shareholders wanting to invest in the growth of Kambi Group. The company has developed into a leading premium sportsbetting technology company with significant opportunities in new and existing markets. By divesting a small part of my shares in Kambi Group, I have affected an elemental reallocation within my overall portfolio of investments. I remain committed as a long-term major shareholder and intend to continue to support Kambi Group through my representation on its board of directors.”
Strom established Unibet from his London home in 1997 and subsequently led the firm, which rebranded as Kambi Group in 2016, as it became one of the planet’s largest business-to-business sportsbetting service providers and consumer-facing iGaming operators. Despite the impact of the coronavirus pandemic, the company recently saw its aggregated revenues for 2020 rise by 28% year-on-year to $142.63 million as its annual profit surged by 131.7% to $29.21 million.
Despite all of this success and Legal Sports Report nevertheless reported that Kambi Group felt the wrath of several partner operators last Sunday after its turnkey sportsbetting platform was forced to suspend pre-game betting on Super Bowl LV for a full 30 minutes. The source disclosed that this outage was caused by a failure in geolocation compliance technology supplied by an outside vendor and had impacted the American-facing online sportsbook from Penn National Gaming Incorporated, Rush Street Gaming and DraftKings Incorporated.
Kristian Nylen serves as Chief Executive Officer for Kambi Group and he reportedly pronounced that his firm was nevertheless able to permanently fix the offending problem ‘seven to eight minutes’ before the beginning of the gridiron contest from Florida and then went on to process the highest volumes in its history.
Reportedly read a statement from Nylen…
“The issue experienced prior to kick-off was related to one particular bet offer for which we increased the number of possible outcomes especially for the Super Bowl. This bet offer was the third most popular offer on the day and, due to the extended number of outcomes, required extra technical capacities as part of our bet validation process. Unfortunately, this additional capacity caused a backlog and slowed, and eventually stopped, the bet validation process for all bets.”
In the Philippines and a proposal is reportedly making its way through the legislative process that could soon oblige all locally-licensed iGaming operators to pay up to a 5% tax on their gross gaming revenues.
According to a report from the news website at Rappler.com, House Bill 5777 was passed by the Philippines House of Representatives via a 198 to 13 margin on Monday and is soon set to be put before the Philippines Senate. The source detailed that the legislation will now become law if it can survive three readings by this 24-member body and subsequently receive the signature of President Rodrigo Duterte.
Should this measure become the law of the land and the domain reported that iGaming firms with a Philippine Offshore Gaming Operator (POGO) license would escape all existing levies, fees and franchising duties in exchange for agreeing to hand over 5% of their gross gaming revenues in tax. The proposed legislation sponsored by representative Jose ‘Joey’ Salceda (pictured) would moreover purportedly institute a 25% ‘withholding’ levy on all foreign nationals employed by such enterprises earning a salary of more than about $12,400.
The Philippines is reportedly home to 51 firms holding a POGO license although only 34 of these have so far been granted permission to resume operations in the wake of the nation’s coronavirus-induced lockdown. Such iGaming ventures are currently required to pay a 5% tax on their net income with proponents of the new legislation purportedly hopeful that the envisioned change in terms would allow the state to bring in approximately $935 million in annual taxes.
Despite these anticipated financial gains, the Deputy Minority Leader for the Philippines House of Representatives, Carlos Zarate, was reportedly one of those to oppose the passage of House Bill 5777 over concerns that doing so would further legitimize an industry that only entered the country due to its proximity to China, which has outlawed all forms of online gambling.
Reportedly read a statement from Zarate…
“POGOs were created to serve as a ‘legal loophole’ so residents from countries where gambling is illegal, like China, can still engage in such activities. We are against the plan of our government to open our country to gambling activities that are not only illegal in other nations but are often linked to other criminal activities.”
In its report on the matter and Inside Asian Gaming explained that House Bill 5777 would not levy the 5% gross revenues tax on the 131 firm’s currently accredited to offer services to those holding a POGO license. However, this source detailed that such enterprises would remain subject to analogous local and national duties so long as they had first settled any outstanding liabilities, penalties and fees.
Salceda reportedly proclaimed…
“New revenues come primarily from classifying service providers as regular corporations and including their alien employees in the presumed minimum taxable income system and allowing the Philippine Amusement and Gaming Corporation and special economic zones to levy regulatory fees of up to 2%.”
The Greentube iGaming subsidiary of Austrian gambling giant Novomatic AG has announced its entry into the eSports sector via the acquisition of blockchain-powered fantasy betting pioneer Hero.
The Vienna-headquartered firm used an official press release to declare that Hero was established in order ‘to disrupt the online betting industry’ with its platform at HeroSphere.gg allowing aficionados to compete against others via their own range of specially-created contests. The Austrian innovator moreover stated that this purchase is set to allow it to ‘significantly diversify’ its offering and ‘venture into the eSports and blockchain sphere for the first time.’
Greentube detailed that the eSports platform run by Hero already has over 300,000 active users while its Heronetwork advance can furthermore be utilized for all types of betting, pooling, poker and fantasy systems. The firm explained that the acquisition also includes the target’s proprietary Herocoin virtual token, which has been designed to ensure all transactions are safe and understandable.
Michael Bauer, Chief Financial Officer for Greentube, used the press release to pronounce that the eSports platform run by Hero ‘cuts out the middleman’ in permitting aficionados from around the globe ‘to challenge other enthusiasts without the interference of bookmakers’ settings the odds.’
Read a statement from Bauer…
“At Greentube we aim to hold a leading position when it comes to adopting new trends and technology. With Hero’s unique products, we have acquired an innovative and exciting business that will see us move into uncharted territory. The eSports and blockchain space offers a lot of possibility for the gaming sector and will open up new doors for us as a company. We are excited to explore the possibilities that lie ahead together with Hero.”
For his part and Paul Polterauer serves as the Chief Executive Officer for Hero and he proclaimed that his firm has always endeavored ‘change the nature of online betting’ by offering technologies and innovations that are ‘completely different.’ He additionally asserted that the company’s eSports products have been formulated to ‘challenge the old concept that the house always wins’ while simultaneously permitting users to ‘build a community that better benefits them.’
Polterauer’s statement read…
“Being acquired by such a renowned company as Greentube is a huge testament to the hard work we have put into developing and evolving our products. Together with Greentube we will be able to reach new heights.”
American land-based casino operator Bally’s Corporation has announced that it has bought prominent online free-play games and software developer SportCaller for an undisclosed amount.
The Providence-headquartered firm used an official press release to detail that the acquisition is destined to complement its pending takeover of daily fantasy sports provider Monkey Knife Fight as well as its recent purchase of digital technology and services enterprise Bet.Works Corporation and help it to further expand its iGaming presence around the world.
Previously known as Twin River Worldwide Holdings Incorporated until undergoing a name-change late last year, the Rhode Island-based company proclaimed that procuring SportCaller will moreover allow it to premiere its own range of free-play games later in the year and utilize its long-term strategic partnership with Sinclair Broadcast Group Incorporated to distribute these ‘in states that currently do not permit sportsbetting.’
George Papanier serves as President and Chief Executive Officer for Bally’s Corporation and he used the press release to explain that SportCaller and its player database are to become a part of his firm’s new Bally’s Interactive division. As such and he declared that this entity will be able to utilize free-play games ‘as an additional player engagement and retention tool’ while expanding the attractiveness of its mobile-friendly sportsbetting app ‘beyond national borders.’
Read a statement from Papanier…
“I am delighted to welcome SportCaller to Bally’s Interactive alongside Bet.Works Corporation and Monkey Knife Fight. Free-play products represent a core component of our interactive strategy to drive user acquisition to our ecosystem. SportCaller offers unique products and I am confident that its pioneering platform and deep international expertise will significantly contribute to our growing interactive platforms.”
For his part and Cillian Barry, Managing Director for SportCaller, pronounced that his Dublin-headquartered firm’s portfolio of over 100 free-play and jackpot games offered in some 20 languages were already being utilized by ‘some of the largest betting and media companies as a key customer acquisition and retention tool’. He furthermore stated that his team will now work with Bally’s Corporation towards improving the ‘development resources’ of Bet.Works Corporation while simultaneously supporting the ‘accelerated innovation and deployment of new products.’
Barry’s statement read…
“Joining Bally’s Corporation is a milestone moment for the SportCaller team. I look forward to working with the talented team at Bally’s Corporation as we continue to create innovative free-play products that engage sports fans on a global scale.”
igamingsportcallercillian barrytwin river worldwide holdings incorporatedgeorge papanierbally’s corporationbally’s interactivemonkey knife fightbet.works corporationsinclair broadcast group incorporated