Each week, CasinoBeats breaks down the numbers behind some of the industry’s most interesting stories. Today we take a very global outlook, visiting Japan, Australia, Europe and the USA as we look at integrated resort regulation delays, huge acquisitions and national framework adaption.
Victoria has become the first Australian state to make headway into the National Consumer Protection Framework for Online Wagering, with several new rules set to be put in place to heighten consumer protection.
First established in November of last year, the framework is to see the progressive implementation of a suite of measures over an 18 month period, following uniformed agreements from Australia’s state governments.
Coming under the guidance of Daniel Andrews, the 48th Premier of Victoria, and coming into force in the state next week, online operators will have to adhere to strict requirements for betting account deposit limits, restrictions on direct marketing and a ban on perks that encourage consumers to continue betting.
It is said the new rules are to prohibit awarding vouchers as referral incentives, stop the awarding of free bets if a customer cannot subsequently withdraw the funds and will require customers to opt-in to receive direct marketing.
A blow has been dealt to the progression of Japan’s proposed integrated resort developments, after it was revealed that the initial proposed date for the establishment of the country’s Casino Management Board is to be pushed back, reports Asia Gaming Brief.
The government of Prime Minister Shinzo Abe revealed the delay recently, which could see the ruling party not take up the IR issue once again until early 2020, which also pushes back the issuance of further specific bidding regulations, with only three licenses to be initially up for grabs.
As a number of global casino resort organisations begin to deepen proposals to cement their place within the country, Abe cites concern of the Japanese public, and the still hostile opinions that still exist regarding the legalisation of casino gambling, as the primary reason for the delay.
The Casino Management Board was to be established under the IR Implementation Bill, consisting of five members and operating under the umbrella of the Cabinet Office.
It has previously been stated that they will oversee IR operations, possessing the power to suspend or terminate licenses should violations of law come to the fore.
Agreeing the deal with Amgo Igaming, which counts five fully owned gaming brands as part of its stable, the deal consists of €1m in cash a further €1m in newly issued shares.
Beginning on July 1, 2019, Amgo is to receive the full ownership of Jetbull, with it said that the transition phase to operate and manage the brand has already begun.
Operating on the EveryMatrix white label platform, Jetbull is a brand that offers casino and sportsbook and boasts in excess of 600,000 registered customers.
Enjoying “substantial growth over the last 24 months,” Jetbull is to continue to be operated under EveryMatrix’s Maltese, UK and Danish licenses.
Taking its US footprint to 42 properties in 19 jurisdictions, Penn secured the operating assets for approximately $300m, which coupled with the real estate investment trust’s $700m purchase of the land and real estate assets.
Simultaneous with the closing of this transaction, Penn National entered into a triple-net lease agreement with Vici for an initial 15-year term for approximately $55.6m per annum, with four 5-year tenant renewal options included.