Wire NORTH AMERICA
Legal Claim hits Evolution Market Value
Evolution lost US$3bn in market value after a US law firm accused it of operating in countries such as Iran in violation of US sanctions.
Reuters and Bloomberg have reported stock falls as a result of the claim, which have affected Evolution to the tune of US$3bn.
US ONLINE GAMING
NEVADA – The Flamingo Las Vegas resort on the Las Vegas Strip is commemorating “75 Years of Fab” with special offers for guests through the end of the year. In 1946, Benjamin “Bugsy” Siegel and business partner Meyer Lansky famously opened the Flamingo Hotel intending to bring Hollywood glam to the desert.
They created the first resort-style hotel on the Strip and forever changed Las Vegas. Flock to Flamingo Las Vegas as the “Forever Fabulous” resort at the heart of the Strip celebrates its milestone 75th anniversary. Now through the end of the year, guests can enjoy anniversary-themed offers at the resort, from a social media sweepstakes to hotel, spa and wedding packages.
“With 75 years of rich history, including some of the biggest names in entertainment on the famed Strip, Flamingo Las Vegas has continued to evolve and thrive, though most of the resorts built around its era are long gone,” said Dan Walsh, Senior Vice President and General Manager of Flamingo Las Vegas. “At the heart of the ongoing success of the resort are our dedicated Team Members, many of whom have called the Flamingo their home for over 30 years.”
US – PlayStar has added another industry heavyweight to its senior management team with the appointment of Gustav Vadenbring as Chief Financial Officer. Vadenbring is a corporate
finance veteran with more than 20 years’ experience that includes M&A, IPOs, developing growth companies and investments.
US – Bragg Gaming Group has entered into an exclusive global content licensing agreement with Bluberi, based in Las Vegas. Content from Bluberi’s portfolio of slot games will be adapted for the online market by a team led by Doug Fallon, Bragg Group Director of Content and founder of Wild Streak Gaming, a studio acquired by Bragg in June 2021.
This agreement allows for dedicated distribution of Bluberi’s portfolio of land-based content via Bragg’s network across Europe and North America. The agreement also allows for omni-channel distribution, whereby the same games can be offered to land- based and online operators.
“Adapting popular land-based titles for distribution in the online space is an initiative we have already seen huge success with via the games developed by our Wild Streak studio,” said Richard Carter, Chief Executive Officer of Bragg. “Bluberi’s slot content portfolio continues to grow in popularity with land- based players, and we are excited to now be able to add their titles to our rapidly growing omni-channel offering.”
P20 WIRE / PULSE / INSIGHT / REPORTS
Evolution has been challenged by a US law firm, acting for an anonymous US competitor, for allegedly operating illegally in countries such as Iran, Hong Kong and Singapore. Te story, originally reported by Bloomberg, details a complaint to the New Jersey Division of Gaming Enforcement on behalf of unnamed private investigators.
Te complaint, which appears to confuse the creation and supply of online gaming content with operating an online casino, states that the investigators played Evolution games at Internet addresses in which online gaming is either illegal or subject to US sanctions. Te complaint also claims that Evolution provides its games to unlicensed and unregulated operators.
In a statement to G3, Evolution commented as follows: “Evolution strictly complies with all applicable laws and regulations. As a B2B- supplier, Evolution has customer relationships with gaming operators, who in turn own the relationships with the end users.
“Evolution does not own or control any of the operators or aggregators it works with. We have no direct relationship with the underlying player
Yggdrasil signs content distribtion deal with IGT for North America
US
Yggdrasil has signed a multi- year iGaming content distribution agreement that grants IGT exclusive access to a number of Yggdrasil’s online slots for distribution to operator partners in the US and Canada.
IGT expects to feature the first Yggdrasil game on its platform in December 2021. Te deal marks Yggdrasil’s entry into the North American market.
Fredrik Elmqvist, CEO of Yggdrasil, said: “Yggdrasil continues to deliver on its growth strategy, and U.S. and Canada are key territories for driving continued sustainable long-term growth, and shareholder value. We are delighted to partner up with IGT, the world’s leading gaming
and no involvement in handling of players’ money. We sell licensed and certified games to licensed operators and aggregators. It is the operator that decides which markets to market themselves, that handle the KYC process and finally decide what players to accept.
“Generally, online gaming operators are licensed in a limited number of jurisdictions while some operate in a global market and allow play from various geographic areas over the internet. We use all tools at our disposal to block play from certain countries, including all countries on sanction lists mentioned in the article.
“In countries where a local license is available to operators we require operators that market themselves directly to that country to have a local license. Evolution holds B2B-supplier licenses in over 40 jurisdictions and we have long history of working with regulators all over the world.”
While at face-value the case appears to have little merit, news agencies such as Reuters and Bloomberg have reported stock falls as a result of the claim have affected Evolution to the tune of US$3bn.
supplier, who will have exclusive territorial distribution rights for a selected number of our best-in-class Yggdrasil game titles. As the online gaming market continues to expand in North America, we look forward to supporting IGT’s PlayCasino customers to realise their goals through our player-centric, highly entertaining and iconic games.”
“Partnering with high- performing game developers such as Yggdrasil Gaming is a pillar of IGT PlayDigital’s growth strategy and an additional differentiator of the IGT PlayCasino value proposition,” said Enrico Drago, IGT CEO Digital & Betting. “Yggdrasil Gaming’s artistic talents, passion for innovation and commitment to quality and performance shine through in all their games and we believe Yggdrasil games will complement our player- favourite IGT PlayCasino games.”
US
Pariplay has signed a distribution deal with BetMGM in the United States. Te agreement enables Pariplay to offer its proprietary games and aggregated third-party content to BetMGM’s players in New Jersey and Michigan, with the potential to expand into other live markets in the future.
Andrew Maclean, VP of Sales, Pariplay, said: “Our momentum in the US market is showing no signs of slowing down and we are thrilled to partner with BetMGM to continue that progress.”
Matthew Sunderland, Vice President of Gaming, BetMGM, said: “Pariplay offers an abundance of well-liked content. Trough this partnership, BetMGM will add to its world-class gaming experience through titles that will engage and entertain our players.”
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