Category: Online Casino News

Another major acquisition deal in the online gambling industry was announced this week. Boyd Gaming, the US-facing igaming software supplier, confirmed that it plans to acquire Pala Interactive for $170 million in a deal struck between the two companies. The all-cash deal includes the acquisition of all the group’s subsidiaries and is expected to close by the first quarter of next year.

Pala Interactive is the majority owned brand of the Pala Band of Mission Indians.  It is active in the North American market in eight US states, as well as Canada.

Most importantly, Pala Interactive recently acquired a Gaming Related Supplier Manufacturer License from Ontario’s gambling authority, which allows it to enter the fledgling igaming market in the Canadian province.

As per the president and chief executive of Boyd Gaming, Keith Smith:

“The acquisition of Pala Interactive marks the next phase in the ongoing execution of our igaming strategy, providing us full control over the technology, development and customer experience.”

“By integrating online casinos with our existing land-based operations, we will be able to further leverage and monetise our expansive customer database and the amenities of our nationwide portfolio of properties, driving growth in both our land-based and igaming operations.”

Smith said that it made sense for Boyd to pursue a direct approach with its igaming operations, given the company’s nationwide geographic distribution, significant database and established loyalty program.

Entain, one of the world’s largest sports betting and gaming groups, has published its report on Gender Pay Gap covering last year, where it detailed its diversion and inclusion policies.

Entain was proud to announce that the median hourly pay gap between male and female workers dropped from 7.1% to 5.3%.

The chief executive officer of Entain, Jette Nygaard-Anderson said that over 50% of retail employees are female.

She said that Entain’s vision is to create ‘a best place to work’ platform, where employees feel valued, respected and engaged. She said that it was important to reflect these values in the way employees are rewarded.

“We are pleased to report that our median hourly pay gap has reduced to 5.3% from 7.1% – substantially lower than the national average of 15.4%,” she said. “This reflects the gender parity in our retail business where 54% of our colleagues are female.”

Other interesting facts in the Entain report:

  • In the upper tier of the company, 39.1% were female.
  • In the upper mid-section, 52.3% were female.
  • Women made up the majority of the lower-mid and lower quartile of the workforce.

More studies are in the pipeline to understand how the pay gap can be reduced further.  A Women@Entain network has been launched for female employees to share their experiences and give feedback.

There is a buzz of excitement around one of Microgaming’s highest paying progressive slot jackpots. The prize on the WowPot jackpot game is a cool $9.365 million (at last count).  This is causing a flood of players to try their luck on the four-tiered game which can be found in the lobbies of multiple Microgaming-powered online casinos.

WowPot’s top jackpot seeds at $2 million and there is no limit on how big the prize can grow. The other jackpots are: Major (seeds at $100,000), Minor (seeds at $50,000) and Mini (seeds at $10,000).

The WowPot jackpot is linked to a number of Microgaming slots, namely:

  • African Legends slot
  • Queen Alexandria slot
  • Sisters of Oz slot
  • Book of Atem slot
  • Wheel of Wishes slot
  • Poseidon Ancient Fortunes WowPot Megaways slot
  • Blazing Diamonds slot

Play any of these above games and you’ll be in the running to hit one of the four jackpots in each game!

WowPot launched in February 2020 and has fast grown into one of Microgaming’s most popular games. Since the game dropped, WowPot has paid out over $90 million to lucky players. The largest WowPot jackpot made one player extremely happy with a €17,529,047.11 prize. In total, nearly 2,500 WowPot jackpot winners have been clocked by the iconic software provider.

Gan Ltd, the B2B supplier of internet gambling software, published its full-year 2021 financial results recently, showing a slight drop in sports margin.  As a result, the group’s revenue fell just over 5.5% in the fourth quarter of 2021, compared to the same period one year before. Profits also dropped 11.6% year on year.

According to GAN’S CEO, Dermot Smurfit, the fourth quarter financial results were adversely affected by the volatile sports market in the company’s B2C segment, consistent with other international operators. This was partially offset by continued strong new customer growth.

Other Key Features of GAN’s 2021 Report:

  • GAN’s B2C revenue dipped during the fourth quarter to $19.2 million – a 9% drop year on year.
  • B2B revenue improved year on year to $11.3 million, driven by improvements made to this division.
  • Overall, in 2021, net revenues jumped to $125.4 million.
  • GAN purchased Coolbet during the year, which also contributed to overall revenue growth.

Commenting on the 2021 report, Smurfit said that the group has not lost sight of the fact that GAN delivered “incredibly strong revenue growth” in 2021. He said that GAN made numerous strategic steps towards solidifying its future and projected another year of very strong revenue growth, as well as improved profitability as it achieves better scale.

The chief product officer for Evolution Gaming, Todd Haushalter commented on the taxation framework across the US in relation to the growing igaming market.

According to the CPO, there is a need for regulators and gaming authorities to implement fair taxes on the industry. The intention, he said was that these levels did not become prohibitive and would therefore allow the market to reach its maximum potential.

A fair taxation level, said Haushalter, would allow operators and suppliers to innovate and create more igaming products, ultimately benefitting the players.

He compared Nevada’s tax rates of 6.75% of gross gaming revenue to New York’s exorbitant tax rate of 51% placed on its sports betting market.

“’Feverish’ or ‘frenzy’ are the first words that come to mind when it comes to describing the market as things stand,” Haushalter said. “The excitement around the business is incredibly high and it reminds me of the early days of the .com boom.”

“Everyone knows that online gaming will be massive in America, since this is the world’s largest gaming market already. As a result of this, we are seeing many companies investing heavily today to secure their place in the future of online gaming.”

Haushalter called for low gaming taxes so that the market could flourish across the US, and not only in very specific states.