Meta Platforms faces pressure in Italy, Brazil approves gambling tax

This is it! Another year has passed in the world, and the gambling industry, with a lot transpiring. Rather than focusing on the events of the world throughout the entire year, we will bring you the most recent developments from the last week – thereabouts – as is our want in the weekly news roundup.

Brazil is stepping in 2024 on a much firmer footing, as the country has now greenlit a bill that will begin taxing online sports betting and the winnings by players. All that is needed is President Luiz Inacio Lula da Silva's rubber stamp which is undoubtedly coming as it was his government that made a very particular point of finalizing the regulation of Brazilian gambling.

We saw more interesting developments during the week. Miriam Adelson, the widow of Sheldon Adelson, and a prominent casino mogul is striking roots in Texas, where she and Mark Cuban want to see Las Vegas-style casino resorts legalized. Cuban, who owns the Dallas Mavericks, is selling his stake to the Adelsons, following an official approval from the NBA.

Does this bode well for the future of regulated gambling in the Lone Star State? Nobody knows for sure. In any event, Texas may not move forward with any particular plans for the time being as the next legislative session in the state is scheduled for 2025.

Meanwhile, Soft2Bet used the opportunity to close the year by providing a breakdown of what has been achieved, and what technological trends will continue and carry over into 2024, giving fruit for the stakeholders who have been able to harness and implement them.

The company ran a very detailed breakdown of everything from responsible gambling to the role Artificial Intelligence and user expeirence will play in making the difference between success and near-miss in the gambling industry over the coming months.

Meta Platforms, the company behind Facebook and Instagram, was hit with another penalty in Italy, after the Autorità per le Garanzie nelle Comunicazioni (AGCOM), the media regulator, took issue with the company and said that Facebook and Instagram accounts had been allowed to spread gambling messages.

This is not allowed in the market, which is covered by a complete blackout of gambling messaging of any sort, prompting AGCOM to slap the company with a €5.85m ($6.45m), which is very likely going to be challenged by the company. Regardless, it’s indicative of the increasing level of scrutiny regulators are putting on any infringement in the Italian market.

Italy is also planning to re-regulate its market and raise further gambling funds. This, though, is seen as a move that would ultimately stifle the market and undermine its competitiveness, leaving customers as the ones paying the price.

Kambi, in the meanwhile, continued to carry out its share buyback program designed to help the company continue to strengthen its control over its own operations and boost shareholder value. Kambi now has 729,592 shares, out of 31,278,297 issued. The maximum number of stocks that Kambi may buy is 3,127,830.

Round the Industry Partnerships Click in Place

The industry has not really slowed down – well it didn’t slow that much anyway. BetMGM continued to strike partnerships, one of which will see it and Play’n GO work together on a new dedicated hockey slot game, Winged Reels, inspired by the image and likeness of the Detroit Red Wings, a National Hockey League franchise.

Yggdrasil is also continuing with its push as the company is expanding in the Netherlands with Circus.nl, as both companies are keen to grow their local presence and provide players with outstanding products that continue to deliver a strong expeirence for everyone involved.

Speaking of, Realistic Games has teamed up with BetMGM in the United Kingdom to help the operator continue to strengthen its operations locally. A number of excellent games are arriving on BetMGM’s portfolio as a result, including but not limited to Book of Charms, Catch 22, and Destination Atlantis.

NetBet Italy has also expanded with Platipus, a game supplier. The move is designed to continue strengthening the operator’s overall library and provide players with a more ample choice of what to choose from.

Responsible Gambling in the Industry

There were interesting developments with regard to responsible gambling as well. Kentucky, a state that only recently rolled out its commercial and online sports betting, has reported a worrying trend – a triple increase in the number of calls placed to gambling addiction helplines.

This comes at a time when the state only has a handful of certified problem gambling councils which compounds the issue. Meanwhile, Ohio does not really want to end up in a similar situation, and the state has been actively pushing to improve the support for its players.

For one, Ohio rolled out the Gamban self-exclusion software, but it has now also partnered with GamFin to ensure that those who suffer from gambling addiction are also offered financial advice and personalized recovery plans that can help them overcome the hardest part of coming back from addiction – getting your finances in order.

Image credit: Casino Guru News