Every week, CasinoBeats breaks down the numbers behind some of the industry’s most fascinating stories. Our latest headline reflection features Kindred, William Hill and BetMGM
£424m
Publishing its trading update for Q4, 888 detailed revenue of £424m, a five per cent increase on the previous quarter (Q3: £405m), but down seven per cent year-over-year (Q4 2022: £457m).
CEO Per Widerström highlighted that the business – which operates several brands including William Hill, 888 and Mr Green – has laid its foundation for growth by “significantly strengthening compliance, refining its approach to marketing investment, and increasing its focus on recreational customers”.
£8.7m
Odd Molly Fashion entrepreneur, Per Holknekt claimed he had lost a total of SEK 100m (£8.7m) on 30 different online gambling companies”, as he began legal proceedings against Kindred.
The case comes off the back of accusations that Kindred Group “fed his gambling addiction, which spiralled out of control”.
Kindred brands were revealed as Holknekt’s preferred choice, in which he claims to have “lost over SEK 26m (€2.3m) on Unibet alone”.
Last summer, Holknekt commenced legal proceedings against Kindred in which he sought SEK 10m (€1m) in damages.
A campaigner for Swedish gambling reforms, Holknekt told the media that he had worked with data experts to provide the court with a lengthy list of control deficiencies and irregularities in how he believes Kindred exploits gambling addiction and its shortcomings on money laundering duties.
3
Genesis Global Limited became the third operator in recent times to have its licence suspended by the Malta Gaming Authority.
The group has been ordered by the Maltese gambling regulator to halt all operations in the region over undeclared breaches of the Gaming Compliance and Enforcement Regulations.
The operator held management over a number of websites under its licence, including Vegasoo.com, Sloty.com, Casinojoy.com, Spinit.com and Genesiscasino.com.
All outstanding payments to the MGA and players must be refunded within seven days of the cease order’s issue date (11 January), with the provision of evidence that the above has been complied with.
Genesis initially had its licence temporarily suspended back in January 2023, distributing letters to its employees informing of insolvency a month prior.
The MGA also ordered Rush Gaming, operator of Fansbet.com and Onebet.com, to cease all B2C operations in Malta, following up with the cancellation of its business relationship with Betago – all part of MGA’s wider strategy to meet international gambling standards by nurturing a safer gambling environment.
£297,900
After granting £297,900 in funds over 18 months, GambleAware has announced that it is looking to fund a research project to better understand gambling harms in the LGBTQ+ community.
The gambling charity’s research will build upon findings from the publication ‘LGBTQ+ people and gambling harms: a scoping review’- set to be published in the upcoming months – which discovered the need for stronger literature regarding LGBTQ+ experiences of gambling harms.
In addition, GambleAware noted that further research is needed “to explore the lived experience, drivers, and burden of gambling harms within the LGBTQ+ community”.
1
As BetMGM continues its marketing drive, the firm revealed it will make its Super Bowl debut this year through a star-studded new advert.
The teasers feature actor Vince Vaughn, NFL icon Tom Brady and NHL legend Wayne Gretzky building up to the big game, created in partnership with advertising agency Highdive.
“This year’s Big Game is our moment to put BetMGM front and centre of the largest audience in sports,” commented Matt Prevost, Chief Revenue Officer at BetMGM.
“Our first-ever Big Game commercial showcases Las Vegas as the home for the game as well as what we consider to be BetMGM’s home. We couldn’t be happier with the talent we have assembled for the ad, and the connection they have to our brand.”
BetMGM’s Super Bowl teaser campaign and commercial are just two components of the operator’s strategy for the big game on 11 February.
