MERGERS & ACQUISITIONS

The Mergers & acquisitions merry-go-round

This year has seen huge actvity in M&As we take a look at those and what 2022 has in store for the industry

This year has been characterized by a number of lucrative mergers between a range of global betting companies. Indeed, some have been particularly busy, undertaking substantial expansion through the acquisition of several rival firms.

Such activity is perhaps unsurprising in volatile marketplace conditions. The pandemic has hit many hard; changing consumer habits have accelerated, online gaming is increasingly popular and driving muchneeded footfall away from retail units. The threat of future lockdowns looms large across a number of global marketplaces, further consolidating this direction of travel. Many businesses, gambling sector or otherwise, are feeling the pinch from the de-stabilising effects of COVID-19.

However, there’s also plenty of green shoots to consider. The legalization of online sports betting across huge swathes of the U.S has facilitated a rapid rise in the fortunes of many, with American sports betting agents reaping the reward of considerable new freedoms. They too have played an integral role in the acquiring arm of 2021’s merging activity.

This article reviews the biggest movers & shakers in this year’s takeover deals. A widespread of sportsbook, software technology and media stakeholders have found themselves at the centre of varying mergers; both in times of financial size and legal complexity.

Major American Outfits Make their Move

Caesar’s Entertainment have certainly been active in this space. The North American betting company, which boasts over 50 Casino’s and a perpetually growing presence in alternative gambling markets, consolidated its status as one of the U.S biggest firms by acquiring William Hill and its merger with Eldorado Resorts throughout the course of 2021.

William Hill’s notable stamp on Sportsbook markets across the US were of massive appeal to a company looking to step up their competitiveness in the online sports betting market. They staved off Apollo- an Asset Management firm- to acquire WH for a cool $4 billion dollars. Forecasts are good given the prospect of even more states aligning freedoms in their localized gambling activities to the recent Supreme Court Bill.

It was embraced by William Hill executives, who voted unanimously in favour of the takeover; with COVID-19 conditions exacerbating challenges in their Retail arm. Similarly, Eldorado Resorts found themselves in financial vulnerability as a consequence of the pandemic; Caesar’s were on-hand to strike up a $17.3 billion dollar merger deal that secured the newco’s status as the largest Casino business in the United States.

As mentioned, America’s abandonment of its archaic prohibitive practices has jolted sports betting revenues northwards, with players such as DraftKings profiting markedly from the change in legislation.

The leaders in fantasy betting merged with technology software brand, SB Tech. A wise move from DK, with

integration allowing SB Tech’s solutions to be deployed in their operational activities. Via a rather complex acquisition which involved investment firm Diamond Eagle featuring to enable NASDAQ access, DraftKings acquired the tech company for $3.3 billion dollars.

However, the deal was a little overshadowed by a recent investigation conducted by private investment group, ‘Hindenburg Research’; with some rather controversial allegations to pursue. Company share price unsurprisingly plummeted in the wake of a report claiming SB Tech had been embroiled in illegitimate gambling practices in a host of countries. DraftKings, convinced a competitor ploy to drive down business value, assured shareholders that a detailed assessment of SB Tech was executed pre-merger- with no adverse findings. Another North American superpower reaping the benefit of partner offered services are Penn National Gaming. In its acquisition of a 36% stake in Bar Stool Sports, PNG are able to manipulate the considerable expertise of the media group, who use techniques to direct consumer traffic towards PNG assets and away from competitors.

Across the Atlantic

Activity is certainly not limited to American shores. Conversely, a company who specifically cannot leverage its fledgling partnership to probe into the U.S market, is 888 Holdings. Theiracquisition of William Hill UK & Europe business is curtailed by Caesar Entertainment’s exclusivity of its branding use in the U.S.

888 Holdings, who themselves are reeling from recent regulatory changes within their own operational scope, have turned to other markets to protect future profit and pave new commercial opportunity. Their commitment to preserving William Hill retail units is notable; with the group emphasizing, despite the substantial headwinds presented by the COVID pandemic, that betting shops remain profitable and are central to the firms onwards success.

Entain, who control the UK’s two biggest betting companies (Coral & Ladbrokes, who themselves have a huge high-street presence) conspired to exploit opportunities in the Iberian market. Its acquisition of bet.pt, a leading innovator and, despite its tender years (established in 2016), key player in the Portuguese market, grows its estate into the Continent and further strengthens its global market share.

Another iGaming giant, Flutter presided over the acquisition of The Stars Group, famed for their ‘PokerStars’ subsidiary which dominates the poker room channel. TSG’s presence is further enhanced by Sky Betting & Gaming, a big player in UK sportsbook markets.

Through this merger, Flutter set goals of becoming the biggest global betting firm, with expected revenue projections sitting at $4.82BN. The deal was universally approved by Flutter & TSG shareholders alike, with part of the negotiation stipulating that The Stars Group would attain 45.4% of share capital.

Flutter therefore adds another significant name to its enviable roster of subsidiary operators, with TSG joining the likes of Paddy Power, FanDuel and Sports Bet Australia in its ranks.

Court Wrangling & The Scrap for FanDuel

And finally, the saga of 2021 (a termwhich ironically characterizes the drama that has so far unfolded in what is set to be 2022’s biggest merger event), was Fox Corporation’s legal challenge of Flutter Entertainment’s well-timed deal withFanDuel; who enjoy an extraordinary 40% share of the recently invigorated (and highly lucrative) U.S sports betting market. which rocketed Flutter’s controlling stake from 58% to 95% in 2020 and FanDuel’s value to $18 billion dollars, through the lens of current marketplace conditions. Flutter’s acquisition came post the landmark Supreme Court Ruling, and therefore Fox contest that they should be able to purchase a chunk of the company at a proportionate rate.

Expectedly, Flutter would prefer an ‘IPO’ option, where potential suitors could bid on a fair price set via the initial public offering framework. Ongoing legal proceedings has compromised the chances of an IPO being floated in the near future, and a Flutter dispute with one of Fan Duel’s cofounders certainly doesn’t strengthen its prospects.

Set against a backdrop of incredible social upheaval throughout a chastising year for all, it’s safe to say that the narrative of 2021 mergers &acquisitions is rather indicative of its surrounding context: unpredictable in their pattern and unyielding in their execution. Perhaps a year characterised by polarization; the big got bigger, and the small got smaller……..

2022 - Triangular Tension

The Flutter, FanDuel & Fox Corporation triangle of discontent seems destined to rumble on well into the New Year, but it is a different triumvirate who have pre-empted a potentially major 2022 episode through their inputs in the closing months of the year.

DraftKings, who, as covered earlier, have already successfully absorbed SB Tech into their overall holdings, have been in hot pursuit of Entain and by extension its notable subsidiary brands. DraftKings set their stall out, with an offer valued at an eye-watering $22.4 billion dollars. The approach has left industry analysts scratching their head in efforts to understand the reasons behind such an aggressive mark of intent.

It may give audiences an insight into the next chapter of U.S sports betting; with one theory asserting that DraftKings seek to hastily pull back from an American marketplace rife with fierce competition and often high state taxation. Something which would be unthinkable to many given that many firms are still riding the crest of the initial wave. However, perhaps an early re-think of an increasingly saturating market could be an intelligent ploy; could this trigger a wider movement?

Could it be that DraftKings have resolved to acquire Entains Technology Stack? This would be a not too subtle signal to SB Tech & its associated services.

Perhaps it’s the capability to exploit far-reaching markets? Entains presence extends far outside its UK enterprises (see earlier comments on Portuguese/Spanish markets), its subsidiary arms operate in Australia, across Europe and Latin America. This would offer DraftKings lucrative opportunity in previously untapped markets.

More likely, it’s a combination of all three. Each offers a compelling

theory. Critically however, no deal was struck, and, at best, negotiations remain firmly on ice.

MGM- innocent by-stander or silent assassin?

MGM, who entered a partnership with Entain through its MGM Resorts International group on the BetMGM venture, may look to take action. During negotiations between DK and Entain, there was requirement to consult MGM, who have a joint exclusivity of U.S sports betting clause in their Entain agreement.

Despite the obvious conflict of interest generated by a merger; MGM, initially expressed ‘a congenial tone’ and were happy to support the two parties in arriving at an ‘amicable resolution’. However, it’s been long since rumoured that MGM were plotting an assault of their own, mobilizing quietly whilst Entain & DraftKings were locked in negotiation, a return themselves from a failed bid earlier in the year, unlikely but rumoured by some news services.

Comments from Entain CEO NygaardAndersen rather dispel the myth of MGM deploying an open stance towards proceedings. In an interview with Reuters, she states the contractual obligations between MGM & Entain ‘played a role’ in the eventual cancellation of takeover talks last month. Furthermore, MGM showed their cards earlier this year, with a $11.1 billion dollar bid rejected, its currently unclear as to whether they’ll return with a grossly improved offer in 2022.

Stepping into 2022- More of the same?

range of stakeholders and complicated legal dynamics, may suggest a potentially protracted start to merger & acquisition activity in 2022. However, if struck, each could have a colossal impact on which players will dominate global markets in the medium-term.

True, it seems next year promises to be another bumper year for merging activity. With the prospect of further lockdowns looming large for a host of nations (and some ongoing), financial fickleness & vulnerability seem to be an enduring feature of the contemporary marketplace.

Conclusion - don’t be surprised if the industry see’s significant further activity as we head into a New Year, and a new way of living.

More Asian Countries Push For Legalising Online Gambling

Malaysia could consider legalising online gambling within the country to be able then to tax the industry. Deputy Communications and Multimedia Minister Datuk Zahidi Zainul Abidin wants the government to consider the option so they can tax an industry that operates in the country from overseas operators in India and Philippines.

The iGaming Post reported last week that the ministry were considering mobile gambling and now understands from sources close to the regional industry this could happen within the next 6 months.

China still opposes its neighbours to open up to legalised gambling but more and more countries in Asia are considering the option in a way to raise more taxes following the devastation of the COVID-19 has had on economies. considering the option of legalising online gambling to raise government taxes. Asia has been the most resistant to online gambling with the influence of China who wants to protect its Macau gambling hub and able to control gambling but it seems 2022 could see more regions in Asia turn to the legalisation of online gambling instead of trying to stamp out the activity which is only growing in popularity.

Show me the way to the next whiskey bar

By Tim Cullimore

Irecently had a very enjoyable catch up with an old friend who is undoubtedly London’s most experienced high volume casino venue director, and for my money one of the best.

After chatting about family, friends and our days working as dealers together in the old dinosaur era we got to talking about food, certainly one of my favourite subjects, and specifically what type of F&B is right for each specific casino.

Going back some years the restaurant in a casino was often the best place to eat in town, and at a late hour. This is still the case in many countries and jurisdictions. Unless things have changed dramatically in Divonne, France, I couldn’t think of a better place to have dinner than the casino restaurant. Situated next to the beautiful traditional live gaming floor this dining room has a welldeserved reputation for high quality traditional French cuisine.

There is though a limit to how many times a week one can eat this superb but rich food. Another old friend, who was gaming manager of the Casino de Divonne, could no longer face eating Foie Gras or Steak Tartar every day, so would most nights ask for a spaghetti Bolognese or similar plate of pasta. Equally when I was part of the management team at the Ritz Club in London’s Mayfair, despite having one of the most diverse and sumptuous menus in the city the gaming managers could be found more often than not eating fish and chips.

Now, the purpose of a restaurant, café or other eating establishment in a casino has 3 main objectives. The first of course is to enable the players to eat during their visit. This may be at the beginning of the evening before playing or late at night when they are deeply involved in their session. What the casino management would like is for the player to have all the amenities they require so that their visit is an enjoyable one. Although many players are “comped” or eat for free this should not be conflated with any inducements to gamble. In previous times players would “game” the system, asking exactly how much was the minimum they had to gamble to earn a free dinner or cocktail. In today’s more enlightened times we recognise that encouraging players to bet more is unethical. But rewarding clients for their loyalty, as in many retail and leisure activities, should not be considered an encouragement to gamble. Secondly the restaurant may be a way for new clients to experience the atmosphere of the casino without having to play. Many birthdays, anniversaries and other milestone events are celebrated in the casino. Equally, especially in the resort towns and spas throughout Europe, the casino may be the main focus of the community, so events at Christmas and New Year take on a great importance, for playing and non-playing guests alike.

Lastly the food and beverage outlets should be a place where guests can go when they want a break from playing, an oasis away from the slots and tables where they can perhaps watch sport or talk with friends, and to simply take a break from playing. Relatively new to the U.K., sports bars where live action sport is shown on big screens have become hugely popular in some clubs, to the point where operational managers complain that “real” players are not able to navigate the gaming floor in comfort due to the volume of sports fans thronging the bar areas. Well, that casino has to decide which type of leisure it wishes to offer and should factor these scenarios in when designing the venue.

Now, as on-line operators wish to replicate the live gaming experience as much as possible especially with live gaming studios, I am surprised that no operator has begun to offer food as a reward to regular players. Now that 80% of the population seems to have access to fast food deliveries at home I would think that offering free pizza or burgers whilst playing would be far more attractive and arguably less contentious than giving free spins or games. How about a button offering to order a thin crust pepperoni if the player takes a 15-minute break to eat it?

We all recognise the difference between a medium sized casino in Europe, such as those we find in Holland, and the mega casinos in Macau or Vegas, where one food outlet will never be enough. But what is inescapable is that if the food and beverage offering is not suited to the player profile, or multiple player profiles of the casino, it will never be successful. With new casinos there always seems to be a tendency to over supply the bar and restaurant product. Over the years I have seen many such projects, almost always led by the architects or marketing departments, with little or no input from the management who will have to ultimately run the venue, and who have the experience of players preferences.

(PTO)

How about an iced-cream bar? Not such an excellent idea for an English casino and not what a player will need in November. A specially imported tandoori oven? Maybe but make sure you can find a chef who knows how to use it first. A futuristic system for allowing over 30 types of wine to be served by the glass? Perhaps, but all the guests wanted was a decently priced good red or white, and the profit margin collapsed in direct relation to the volume of wasted wine.

As experience tells us, it is so important to learn from our own mistakes, and those of others. So, when advising operators on new projects I always advise an organic approach to F&B, allowing for new products to be rolled out as and when the time is right. Over the first couple of years of a new casino reasons to continually promote the business are always in demand, and what better way to do that than the roll out of an exciting fresh food outlet. Rather than go for the big bang theory of throwing everything into the mix at the opening, it is far better I find to allow the customer experience to develop organically. Gradual enlargement keeps the loyal customer far more engaged than seeing areas of the casino going dark.

So to the relationship between betting and alcohol. We are now very sensitive to the effects alcohol can have on the judgement of a player. It is clear that impaired decision-making abilities can have disastrous consequences for a gambler, and the practise of denying gambling activities to those who have consumed too much alcohol is now the norm in most regulated gaming jurisdictions. Numerous court cases where a player has been offered unlimited alcoholic drinks whilst playing, leading to excessive losses has made us all aware of our responsibilities. I certainly wouldn’t recommend the old rules of no drinks on the gaming floor and bars closing at 10:30 pm but being vigilant to the vulnerability of drunk players must be a part of the whole social responsibility programme.

Over the years I have been privileged to sample some amazing food in casinos all around the world, and I must admit to having enjoyed wonderful wine, sometimes a little too much, and I cannot imagine not wanting to eat in a casino, but what I really love is to eat in a casino where the concept has been really thought through and the bars and restaurants feel to be an integrated part of the whole experience.Then you can really relax and enjoy the experience. “Bon Appetit!”

Entain Secures Continued Membership of DJS Index

Entain has secured membership of the Dow Jones Sustainability Index for Europe (DJSI) for the fourth consecutive year, following the results of the DJSI’s annual review. The award further endorses the Group’s approach to ESG and sustainability as presented at the Group’s inaugural Entain Sustain ESG conference held on 10 November.

Entain is the only global sports betting and gaming group within the DJSI, which was launched in 1999 and has become the gold standard for corporate sustainability. The DJSI tracks leading sustainability-driven companies based on analysis of Environmental, Social, and Governance (ESG) factors as well as S&P DJSI’s robust index methodology. Through a consistent, rules-based methodology, the analysis looks at an average of 600 data points per company into one overall score to determine index inclusion. At the Entain Sustain event, the Group highlighted its leadership across ESG issues, including on safer betting and gaming. The event detailed Entain’s industry-leading approach to environmental management, social investment and best practice governance as well as an update on the results of trials of its ARC™ (Advance Responsibility & Care™) programme.

In addition to Entain’s continued membership of the DJSI, it is also constituent member of the FTSE4Good Index and has an AA rating from MSCI. The Group is also the only betting and gaming operator to have received internationally recognised standards (ISOs) for its environmental management as well as independent verification of its emissions disclosure from the Carbon Trust. Entain’s commitment to safer betting and gaming has also been recognised with the Group holding the title of EGR’s Safer Gambling Operator of the Year.

Barry Gibson, Entain’s Chairman

said: “As we set out at last week’s Entain Sustain event, we have proudly put sustainability on an equal footing to our growth strategy. We want to take a lead on the issues that matter to us – sustainability, diversity, and responsibility and as such we are delighted to once again have been recognised by the DJSI following their comprehensive assessment of how we deliver against ESG factors throughout our operations.”

Manjit Jus, Global Head of ESG

Research, S&P Global: “We congratulate Entain for being included in the Dow Jones Sustainability Index (DJSI) for Europe. A DJSI distinction is a reflection of being a sustainability leader in your industry. The record number of companies participating in the 2021 S&P Global Corporate Sustainability Assessment is testament to the growing movement for ESG disclosure and transparency.”

Slot Management 101:

Managing Product Delivery

You got your project approved and started your first stage of work. Progress is good but you need to manage how each product is delivered before your roulette wheel ends up spinning like a flat tire and transforms the roulette ball into a deadly weapon! Welcome to managing product delivery.

By Andy Cosgrove

After receiving project approval, you made it to the first stage and are already looking forward to your first stage boundary. After all, it took a lot of work to reach this stage, and you view this as a good opportunity to reflect on the success you’ve achieved so far. You know what needs to be done when the project reaches the stage boundary which includes planning the next management stage, updating the project plan and reporting management stage end. Then you realize that despite your best intentions, the stage hasn’t ended and there’s a lot of work that you, as the project manager, have to do to get there. Your team managers are the product specialists that get the work done but you can’t relax because it’s your job to issue the work and ensure that it’s done within the boundaries for cost, time and quality. Managing product delivery views the project from the team managers perspective whereas controlling a stage views it from the project manager’s perspective, so it’s important that they work together to produces the necessary results.

The objectives of managing product delivery are simple enough but to overlook them could mean certain disaster. Work on products allocated to the team needs to be authorized and agreed. Team managers, suppliers and team members need to be clear on what is to be produced. The products need to be delivered to expectations and tolerances, and accurate progress reports need to be delivered to the project manager to ensure expectations are managed. Following is a detailed description of the forms and activities involved.

The work Package –The work package is a set of information about one or more required products collated by the project manager to pass responsibility for work or delivery to a team manager. The main contents are as follows:

• Date, Team manager and work package description • Techniques, processes, procedures and development interfaces • Operational maintenance interfaces • Change control requirements • Joint agreements, product constraints and tolerances • Reporting arrangements and problem handling •Extracts or references and approval methods

Accept a work Package – Before a work package can be delivered to a team there has to be an agreement between the project manager and the team manager as to what is to be delivered. The contents of which are covered above in the work package description. In order for the team manager to accept and agree to deliver the work packagethey have to ensure thatthe following happens:

• Review the work package to obtain referenced documentation. Clarify with the project manager what is to be delivered. Negotiate constraints and agree tolerances. Understand reporting requirements and approval methods and confirm how the project manager is to be informed about the completion of the work package.

• Produce a team plan showing which products can be completed. Consult with project assurance to make sure the team plan is viable and in accordance with the required standards, and then seek approval for the team plan.

• Undertake a review of the risks and inform the project manager of any additional ones and consult with project assurance as to whether any further quality reviews are required.

Execute a work Package –The work has to be executed and monitored according to the requirements listed in the work package so it’s important for the team manager to ensure that the work doesn’t exceed the agreed tolerances. Work can only continue while forecasts remain within the tolerances listed in the work packages

and if they are likely to exceed those tolerances the team manager should raise an issue with the project manager who will decide upon a course of action. Use the following as a guide to executing a work package:

• Develop products according to quality criteria. Ensure the work is conducted using the specified techniques, processes and procedures. Develop and maintain operational and support interfaces. Monitor and control issues and risks.

• Notify the project manager of any new issues and risks and take action as required

• Review and the report the status of each product in the work package, ensure the project plan is updated and feed progress information back to the project manager in the manner and frequency agreed.

• If agreed tolerances are forecast to be exceeded, notify the project manager via am issue report.

Deliver a work package – Just as the work package was accepted for delivery by the team manager, notification must be given to the project manager when the work package is ready for delivery. Once complete, the team manager should verify the following:

• Review the quality register to ensure all related quality activities have been completed

• Review approval records to ensure products ready for delivery have been approved

• Update the team plan to show the work package has been completed

• Follow the work package procedures to deliver products

• Notify the project manager that the work is complete.

Conclusion – Part of successfully managing a project is managing the work in progress and ensuring that all products are produced to the specified criteria listed in the work packages. By working together the team manager, the product team and the project manager ensure less delays, risks and issues and a greater project success rate. Planning and writing product descriptions may take time but do you really want a lawsuit that may arise from a flat tire roulette wheel and missile like roulette balls?What do you prefer, the boss complimenting you on a job well done, or a boss telling you that you’re done working for him because of the job that wasn’t done despite your best intentions? Contact me if you need more clarity.

MY MINI-BLOG - Andrew Cosgrove is a seasoned slot operations veteran and certified project manager with over 24 years of hands on experience in Latin America and the Caribbean. Andrew has worked on both the operator and supplier side of casino slots and continues to help clients succeed and exceed customer expectations. Andrew can be reached at andy.cosgrove@henimgwaycasinoconsulting. com or seehttps://hemingwaycasinoconsulting.com/

Christmas is coming

By Teresa Tunstall

Green Jade Games, chairman and former Mr Green CEO Jesper Kärrbrink admits the gambling industry went overboard with aggressive advertising in Sweden which has led to an inevitable backlash. Gambling marketing in Sweden is a hot and divisive topic. The prevalence and tone of the sector’s past advertising practices has led to legislative ramifications.

Work has already begun on the location that will be in the New Mersey Retail Park, which will open next summer.

The location already houses a cinema and six new restaurants, as a result of redevelopment.

The mini-golf will be one of the Puttstars chain of locations, part of the Hollywood Bowl Group, and the group is quoted as saying there will also be an FEC on-site.

Introducing an 18-month programme Gamble-Aware is taking a mixed-methods, multidisciplinary and multi-sector approach including roundtables, depth interviews and community committees for women who lived and experienced gambling harm.

The research has been commissioned as part of Gamble-Aware wider fiveyear organisational strategy, guided by an overarching vision of a society free from gambling harms.

Alison Clare, research director at Gamble-Aware, said: “Women’s experiences of gambling harms are under-researched, often presented as homogenous and in terms of how they differ to men’s experiences.

Pleased to have been awarded this grant in strong multi-agency, multi-disciplinary team which will be drilling down into the experiences and needs of different communities of women.

This is an important step towards en-

-suring Gamble-Aware and others are commissioning the range of treatment and support services women want and will use.

Gamble-Aware is committed to delivering a whole-system public health approach to gambling harms and understanding the wider determinants that drive these - including gender, health, race, ethnicity and inequalities - is fundamental to achieving this...

I was very interested particularly with the times we now live in, to read of the two most common terrorism charges of the 2006 Act. These offences are clearly and simply drafted and juries have not had difficulties understanding what elements are required to be proved to established the offences in question. The offender must be shown to have the requisite intent, which involves an inquiry into the “mindset” of the defendant.

The Home Secretary has the power to list proscribed organisations, which currently include the IRA, Islamic State5 and National Action.

Investigators commonly encounter encryption and the use of encrypted technology is standard in most terrorist organisations! Social media apps and specialist private encryption apps are popularforsuspects who are generally reluctant to volunteer their passwords. A key question in this process for investigating offers is when to seek the advice of specialist counsel.

They are often required to advise at very short notice in fast-moving investigations. Recent years have shown an increase in ‘lone-wolf,’ attacks by self-radicalised individuals acting outside conventional organisations and a growing number of younger terrorist offenders. A 13-year-old boy from Cornwall became the UK’s youngest terrorist offender in February 2021. He was convicted of disseminating terrorist documents and possession of terrorist material.

A key challenge for the authorities and investigating officers is timing: whether and if so, when to make the call to intervene and arrest someone identify as a potential terrorist offender. Intervening too soon may result in a lack of evidence for example, acts preparatory to an act of terrorism. Intervening too late may result in a terrorist attack taking place and innocent lives imperilled. Sometimes suspects are charged with lower-level crimes to disrupt them in their radical path. Fortunately, most terrorist acts are foiled by the authorities during the planning stage before an actual attack has taken place.

Legal action could be taken in the UK against online casino Sky Vegas after promotional emails were sent to recovering gambling addicts.Sky Vegas apologised last week after promotional emails were mistakenly sent to those who had opted out of betting correspondence. Proceedings on behalf of up to 120,000 people who are believed to have been sent the promotional emails offering “free online spins” despite asking not to receive betting correspondence.These emails have already caused harm and distress to those who opted out of receiving gambling promotions for very good reason,said the director of Clean Up Gambling, there is already too much temptation driven by the volume of advertising, so, when someone takes steps to keep themselves away from promotions like this, they should not be force-fed to them again.It is inexcusable of Sky Bet and we would encourage anyone who has been sent these emails to alert the relevant authorities and seek out the support they need.

Sky must do more to protect vulnerable customers, regard to this incident specifically, it is important that Sky are transparent and disclose how many people were sent the promotional material and the reasons for it.

The family members of those with gambling-associated issues will be at home worried if their loved one has been sent this offer despite having done everything they can to try to stay away from these kinds of triggers. UK of Sky Vegas continued, “I would like to sincerely apologise to all those who have been affected by the recent issue at Sky Vegas, whereby a number of people were mistakenly sent promotional communications.I want to assure you that we are doing everything we can to get to the bottom of how this happened. We are conducting a full investigation into what went wrong, in particular so that we can ensure that it doesn’t happen again.As soon as the error was identified it was notified to the UK’s Gambling Commission and we will keep them informed as our investigations progress.Sky Vegas, and indeed all our brands, take their responsibility to protect customers extremely seriously.

Safer gambling is our number one focus and while we haven’t always got everything right, we are determined to do as much as we can to protect those who may be at risk,I recognise that on this occasion we have let many people down, and for that I am truly sorry.”

Evolution Accused Of Working In Illegal Markets

Evolution the online gambling giant is accused of offering online gambling to restricted countries and also regions that are under US sanctions according to a report by Bloomberg.

In the damaging news article it is claimed that senior counsel Ralph Marra who works at Calcagni & Kanefsky LLP, sent a complaint letter to the New Jersey Division of Gaming Enforcement which Bloomberg claim have seen a copy that the Swedish based gambling firm allow gamblers in Iran to gamble on their platforms along with Sudan, Syria where even it is claimed that Syrian President Bashar al-Assad’s family were among the players on the site. Other regions apparently Evolution offer gambling is Singapore and even Hong Kong.

The accusations from Marra are said to have been carried out by investigators working for an un-named investor that is believed to be a US competitor of Evolution. The company is valued at $33 billion and are one of the largest online gambling companies in the world, however news of the breaches have seen some 8% fall in share value but Evolution has enjoyed a 64% rise in its valuation this year.

In response Carl Linton head of investor relations at Evolution said: “Evolution strictly complies with all applicable laws and regulations,” however Linton did acknowledge he has not seen the complaint but went on to say, “Evolution strictly complies with all applicable laws and regulations.”

Marra says his investigators have recorded proof of them being able to gamble through an Iranian IP address.

It is not the first time a large gambling firm has been accused of working in illegal regions, DraftKings owned SBTech were accused by Hindenburg Research of working in illegal markets earlier this year.

Blackstone Makes Third Bid For Crown Resorts IGT Considers Separate Listing

Troubled Australian casino company Crown Resorts has said in a filing to the Australian stock exchange that private equity firm Blackstone Group has made “an unsolicited and nonbinding proposal” to acquire all of the shares in Crown Resorts.

The offer if accepted by Crown values the company at AUD8.46 billion (US$6.16 billion), offering AUD12.50 per share which at close of trading on Thursday was valued at AUD9.90.

Crown said it was assessing the offer from its largest independent shareholder which Blackstone holds almost 10% of Crown shares already. Blackstone has now made its third bid for Crown Resorts as it offered AUD11.85 per share in March of this year and then came back in May with an increased offer of AUD12.35 but was rejected.

In a statement from the casino operator it said: “The Crown board has not yet formed a view on the merits of the proposal,” but it would “now assess the proposal, having regard to the value and terms of the proposal and other considerations.” and would also “engage with relevant stakeholders including regulatory authorities.” Casino manufacturer and online gaming company IGT says it is looking into the possibility of separating its business and re-listing on a public offering.

At present the company runs its entire business under one listing but the company said in an investor update that over the next 12 months it will consider the options for this.

Currently IGT runs its online and betting services separately to its manufacturing of slot machines and lottery, however with the sale of its lottery business the company is now considering listing its betting and online business into a single public offering away from its traditional casino arm.

This month IGT brought in Gil Rotem an industry veteran of the online gambling business to run its online and sports betting business and points towards that strategy and in its investor update the company said it would “further enhance its strategic flexibility.”

Chief Executive Marco Sala, said on the companies future performance “Over the next four years, we are confident we can deliver accelerating organic growth, significant margin