UPROAR AT CROWN

Uproar At Crown Over Exec Pay-outs

Who would want to be the chairman of Crown Resorts at present? With the company having to fight off multiple enquiries regarding suitability of holding a gaming license in three jurisdictions Jane Halton the acting chairperson is again under fire.

This time it is about payments to departing executives of Crown from shareholders. In the 2021 financial year Crown paid out some A$20 million to former executives which includes A$9.6 million in golden handshakes.

Angered shareholders who have already seen their investment in the embattled company plunge have voted by 31% in proxy votes against the payments but Halton has said the money was contracted on departing executives and there is no way of not paying out.

Halton said that the payouts were under “longstanding contracts” however she said the board was reviewing future agreements such as these. “What I can tell you is that people were looking for an explanation of these termination payments,” said Halton.

Ziggy Switkowski is due to replace Halton as permanent chair however Halton refused to let reporters ask questions of the proposed chairperson who is a former nuclear scientist and veteran non-executive director. The proposed new chairman has to be rubber stamped by regulators, but with the company battling questions over its suitability to operate under allegations in Melbourne and Perth along with Sydney of money laundering and involvement in organised crime.

Crown Resorts recently announced its annual results showing a net loss of A$261.6 million (US$191.3 million), this is compared to a profit of A$79.5 million the year before. The company said that the COVID pandemic and enforced closures seriously affected the companies business to trade.

At the same time with the inability of Crown to secure a casino license with their new Sydney resort because of regulatory failings and its casinos in Perth and Melbourne under scrutiny to retain their licenses for the same reasons.

It also said that the offer to acquire the controlling shares of James Packer by Oaktree Capital worth some $2.3 billion has been rejected by Crown and discussions have ceased.

It has been a very difficult period for the Australian casino operator with enquiries into its business practices across its entire casino estate, the company said it hoped that 2022 would see a turnaround in its fortunes both financially and with the ongoing Royal Commission investigations.

Interview with Ali Atam

Chief Marketing Officer Videoslots

Ali many thanks for speaking to the Infinity Gaming Magazine, you are the Chief Marketing Officer at Videoslots how long have you been with the company and what is it like working for Videoslots?

see. It’s a good company to be part of.

The Company is ten years old this year, what are the major changes the company has seen over that time?

Been working with Videoslots for 5 years now, It’s a great place to work with lots of like-minded people. There’s always good team spirit. Although number of employees grow by the day, I believe we still maintain that ‘’Family’’ feeling in the company which is great to There has been a tremendous amount of growth in those ten years. For a start, the content and product offering has exploded. Today we are offering over 6000 games just on Videoslots and this number is increasing each day. Of course, we have also expanded into more regulated markets including Sweden, United Kingdom, Denmark, and Italy. We’ve also added some great innovative features which have really led the industry, like Battle of Slots and Wheel of Fortune. But there have been brand new sites too, such as ournew Mr Vegas casino, which had an amazing start as well as Sportbook vertical.

In what regions in Europe and elsewhere are Videoslots most popular?

Nordics and the UK are our strongest markets. We are also increasing our popularity in Central Europe and emerging markets in Asia.

Videoslots works in a very competitive marketplace, what sets the company apart from its rivals?

I believe it is the dedication of customer service and the quality of the product and offerings. We’ve worked long and hard to improve not just our customer offering but also our customer service,

Ali Atam - Videoslots

whether that is a comprehensive selection of all the latest games, additional fun features or making sure they’re safe and secure. We believe in our product, and we always wanted to show our players that they don’t really need to go anywhere else.

On a personal level the company is based in Malta, how difficult has the last 18 months been and is life in the office getting back to normal now?

Everyone has been in the same boat and we managed remarkably well as a company. It was hard not seeing friends and colleagues but there were lots of people worse off than us. We managed to maintain excellent levels of service, as well as stick to our road map of releases by and large. It was a real team effort and hopefully we’re emerging on the others side bigger and better than ever.

The company won the Best Slots Operator Award at the recent International Gaming Awards in September, how special is winning the award for the company?

It always great and an honour to win an award at the IGA and it is a real pat on the back for the team who have put in a lot of hard work. To be recognized by your industry peers is very pleasing too. There’s a lot of dedication behind the scenes that people don’t see, so it gives everyone a boost when an award comes along. Hopefully there are more in the pipeline!

As we close in on the end of 2021 how would Videoslots consider the year business wise, has it been a success given the difficulties?

Undoubtedly, we have launched the sportsbooks and sister site Mr Vegas and Videoslots goes from strength to strength. There are many things to forget about the last 12 months or so, but we shouldn’t lose site of the tremendous progress we have made as a company. So in short, I would say ‘’quite’’ a successful year.

For 2022 is there anything you can tell us that the company has planned to offer their customers?

Lots and lots more games, which will come as no surprise but will hopefully still excite our many loyal customers. There will be plenty of innovation too. We are looking forward to launch in the new regulated markets we are working on and push our sportsbook product which we have very high expectations.

Before we leave you Ali, you have been in the industry since 2007 with different companies, how does the way Videoslots work compared to others, what is the work ethic with the company?

Videoslots and the people who work here have a great work ethic.

Every company is different, but I think the balance is right here. We work hard but we also realize that we work in the entertainment industry, so we’re not averse to having a bit of fun now and again. At the risk of sounding like a recruitment consultant, it’s a brilliant place to work and I’d strongly recommend it to anyone who has the chance!

Online Gambling Operator License Suspended Connecticut Launch Online Gambling

BGO Entertainment has had its UK gambling license suspended by the Gambling Commission following a review of the protection offered to customers by the online gaming operator.

The gambling Commission said on its website: The Gambling Commission has suspended the operating licence of BGO Entertainment Limited (operating licence no 039533-R-319369021) as it carries out a review under section 116 of the Gambling Act 2005 (the Act).

The review and consequent suspension follows concerns that activities may have been carried out contrary to the Act, not in accordance with conditions of their licence and that the Licensee may be unsuitable to carry on the licensed activities. Failing to protect consumers was a key consideration in the suspension decision.

Pursuant to section 118 (2) of the Act (opens in a new tab), the Commission has determined to suspend the above operating licence.

We have made it clear to the operator that during the course of the suspension, we expect it to focus on treating consumers fairly and keeping them fully informed of any developments which impact them.

In accordance with the suspension BGO has closed its UK operation and stated on its website: “We’re working with the Gambling Commission to resolve this situation quickly.” Customers in Connecticut will be allowed to play online games as the soft launch to online gambling in the state. From tomorrow 750 lucky gamblers will take part in the 7-day soft launch and will be able to take part in sports betting and over 100 casino style games.

Three operators have been granted licenses to operate in the state which are Mashantucket Pequots Tribe and the Mohegan Tribe along with Rush Street Interactive and their PlaySugarHouse.com brand.

Both tribal operators are using DraftKings and FanDuel operating systems to offer sports betting, on the launch Michelle H. Seagull from the Department of Consumer Protection Commissioner said: “We appreciate the hard work of our licensees and their teams, as well as the team at DCP, for their diligence in ensuring these platforms are compliant with the regulations approved by the legislature,” And went on to say. “As long as no issues arise, we have told the licensees they may move forward with the 7-day soft launch required in the regulations. Once the soft launch is complete, online gaming will open statewide.”