CasinoBeats delves into the statistics behind the most interesting stories in the gambling industry. The latest headlines include Groupe FDJ‘s plans to buy Sortred and a rising number of UK self-exclusions.
Groupe FDJ announced its plans to create a new European gaming leader when it made an offer for Kindred Group of EUR2.6bn in cash.
The strength of FDJ’s approach has been highlighted as “the offer was unanimously recommended by Kindred’s Board of Directors”, and that “five major shareholders, holding a total of 27.9% of Kindred’s capital support FDJ’s terms and deal”.
Stephane Pallez Chair and CEO, FDJ Group said, “I’m pleased to announce the acquisition proposal of Kindred today. It is fully aligned to our strategy and will provide the Group with a balanced, diverse profile based on multiple pillars.
The combined Group will benefit from the management team of Kindred and its many talented employees.
According to FDJ’s Paris filing of recent, this offer is a 24 percent premium over the 19th January 2024 closing price and a 35 percent premium over the average weighted price over the past 30 trading days.
Nils anden Nils anden is the CEO of Kindred. He said: “I am delighted by today’s announcement, which creates a leading European gambling operator, with financial and strategic abilities to expand their global footprint.
I believe that combining Kindred with FDJ can help accelerate delivery of strategic long-term projects, grow in key markets and offer a reliable source of entertainment for customers.
Scott Sibella pleaded guilty for failing to report suspicious transactions while he worked as the head of the resort.
Sibella’s plea agreement states that despite knowing he worked as a bookie illegally, he allowed the customer to keep gambling large sums of money on MGM properties.
According to reports, the player named Wayne Nix was provided lavish casino weekends and hotel stays by Sibella between August 2017 and February 2019.
The case revolves around the Super Bowl of 2019, where Nix accepted a bet for $5m on that game, something Sibella knew about.
Sibella’s sentencing could be significant, as he is facing up to five-years in prison and five years probation. Sibella will pay an additional fine of $250,000
The Cosmopolitan and the MGM Grand also agree to pay $7.45m additional for their transgression.
The self-exclusion service GAMSTOP reported an increase of 9.5 percent in registrations by 2023. Registrations are expected to exceed 500,000 in this year.
GAMSTOP, since its inception in April 2018, has registered 433 357 users. More than 92,000 of these people have signed up in the last year alone, which is a new record. The most registrations in a month occurred on May 20, 2023, with 8,591.
The House of Lords hosted an event in June to celebrate the fifth anniversary of the Self-Exclusion Scheme.
GAMSTOP allows self-exclusion for up to five years. This is the maximum period that can be self-excluded. Self-exclusion is also possible for six month or one year.
Fiona Palmer Fiona Palmer is the CEO of GAMSTOP. She commented that “we are seeing an increase year on year in registrations, which demonstrates the importance of Self-Exclusion to anyone who struggles with gambling. Alongside other blocking tools, and support, Palmer commented.
We want to raise awareness about GAMSTOP among those who could benefit from self exclusion, as well as their friends and family members.
The Swedish Gambling Authority Spelinspektionen has banned two companies for illegally offering gambling within the country.
The gambling authorities have accused True Polygon Entertainment Limited, and Smein hosting NV of offering gambling services in Sweden without a licence. They have therefore been banned.
According to the investigation, True Polygon Entertainment’s CSGOBIG or its affiliates as well as Smein Hosting’s Gamdom or affiliates had marketing that was in Swedish.
Spelinspektionen reported that it had not been discovered in either case that Swedish users would have to be denied the opportunity to register and create an account at these websites.
It was noted by the authority that True Polygon Entertainment as well as Smein Hosting were given the opportunity to respond, but they have yet to hear back from either.
The Supreme Court of Justice in Mexico has made a significant intervention in an attempt to resolve ongoing disputes between Codere SA and SHCP. Mexico’s Ministry of Finance and Public Funds.
The dispute stems from SHCP’s demand that Codere pays taxes and surcharges in 2008 which, according to the Ministry, amount to MEX 1.2bn (approximately EUR 300m).
Codere, however, claims that it is exempted from taxes in 2008 because of an ‘amparo” granted by Mexico’s Federal Court of Administrative Justice.
After a new determination’ from the Tax Administration Service, the SHCP is once more involved in the dispute.
According to the Ministry, the protection initially provided by Codere is not applicable anymore due to its increased tax obligations. This provides the foundation to require the operator to pay all outstanding debts.
According to the SHCP, “Following SAT’s reassessment Codere’s nullity case upheld SAT resolution and direct protection was denied.”
The SAT reinstated their inspection and calculated a revised ‘tax credit of 1 272,385,927 Pesos. Codere was not satisfied and pursued a second annulment case, in which the SAT upheld its decision. Codere then appealed directly to the Supreme Court.
Codere, a company that has been evading taxes for years by avoiding payment of SHCP tax demands, filed a lawsuit against the Supreme Court challenging the constitutionality of certain sections of Federal Law of Administrative Procedure.
The Supreme Court of Mexico has intervened in the legal dispute over gambling taxes for the first time.
Bet365, an online casino and sportsbook provider in the UK, has increased its jackpot offerings by adding progressive jackpot campaigns developed by Games Global.
In a joint venture between Games Global and bet365, Games Global is integrating 15 exclusive slot games into the online casino lobby of the latter. Each of these titles will offer enhanced prizes derived from Mega Moolah or WowPot, both developed by the Studio. progressive jackpots.
The spokesperson for bet365 said: “The addition of Mega Moolah & WowPot to our jackpot offering significantly enhances the chances that players will win record-breaking wins. Titles such as Mega Moolah and WowPot significantly increase our jackpot offerings, giving our players the chance to win record-breaking prizes.
Our partnership with Games Global continues to grow and we are looking forward to creating memorable gaming experiences together for our customers.
The content offered by the provider includes slots like Mega Moolah (also known as Wheel of Wishes), Immortal Love Mega Moolah as well as Cash N Riches Megaways WowPot, Treasures of Kilaueau Mega Moolah or Wolf Blaze Megaways WowPot.
Mega Moolah by Games Global and WowPot will have paid out over EUR155m in 2023. Jackpot campaigns have paid over EUR155m in prizes, and increased prize amounts are won on average every 10 seconds.
A lucky player won a jackpot of EUR38.4m in December on the Wheel of Wishes game by Alchemy Gaming, a Games Global studio. This multi-million pound jackpot was the biggest ever won on an online game.