Playtech confirms Flutter interest, MGM readies Brazilian offensive

Playtech and MGM are in the focus of news this week, as the two companies have made some pretty important announcements. For starters, Playtech has confirmed that previous rumours about a potential sale of the Snaitech software and gaming division are actually true.

The company confirmed that Flutter Entertainment is considering the deal, with the news having a positive impact on both Flutter and Playtech’s stock movement.

Flutter sees the potential acquisition of Snaitech as an important consolidation move towards the Italian market where the company already owns Sisal, the largest gaming operator locally.

MGM Resorts International will seek to expand and secure a large swathe of the burgeoning sports betting market in Brazil. The company has confirmed as much in a press release outlining a new Brazilian-centric alliance with Grupo Global, Latin America’s largest media group.

The partnership should allow the companies to benefit from and leverage each other’s respective expertise and to quickly secure a market share in the Brazilian inchoate sports betting market as early as 2025.

The gambling industry at a quick glance

DraftKings has had a bit of an embarrassing week after the company stirred the spirits with a proposed sports betting tax on player net winnings, known as a surcharge. The extra tax was supposed to apply to four states only, with the company citing difficulties stemming from local regulatory frameworks.

The measure proved deeply unpopular with players, but DraftKings decided that it would push through with it and plan to introduce it as early as January 2025. However, a pointed statement by rival FanDuel that the company would not follow suit and not apply a surcharge of its own forced DraftKings to backtrack and drop the proposal.

Another news covered ezBTC, a now-defunct Canadian cryptocurrency exchange which stands accused of having siphoned off one-third of player assets, amounting to roughly $9.5m, to fuel its founder’s gambling habits at several websites.

Meanwhile, Italy is putting the final strokes on its long-anticipated gambling market re-regulation. The framework has now been submitted to the European Commission which will examine it for anti-competitive measures. Italy is increasing the licensing fees and limiting the clout of affiliate services in the country.

The market has continued to grow despite a series of hardline measures, but industry types fear that the industry is coming to a breaking point where a lack of competition will push many consumers to the offshore market.

BetMGM has introduced its dedicated Wheel of Fortune Online Casino in a new market in Ontario, Canada. The casino is launched in partnership with IGT and Sony Pictures Television, which hold the IP and licensing rights for Wheel of Fortune.

Hana Financial, a South Korean financial group, has said that it is investing $7.3m to help prevent and educate people about youth gambling. South Koreans are increasingly turning to games of chance, and Hana Financial is hoping to help educate youngsters about the pitfalls of the industry.

As the SBC Summit approaches, there are plenty of reasons to attend. The event promises to put a stronger focus on women leadership through the Women Empowerment Initiative (WE), and nurture and inspire the next generation of women leaders in the industry. SBC Summit has now been working hard to specifically promote this and other initiatives for all of its events.

In the meantime, SBC Summit Latinoamerica will pay attention to how AI tech can further contribute to player acquisitions, part of the Affiliates & Advertising conference track.

The talk of the industry

This week we similarly had the opportunity to interview several interesting people from the gambling industry.

We caught up with Alexandra Breinig, Casino Sales Manager at EveryMatrix, and talked about how player engagement in iGaming is evolving, and how player-focused and tailored propositions are likely to be the future of the industry. EveryMatrix is well-positioned to harness this trend, and Breining explains why in her insightful interview.

Next, we also heard from Famesters CEO & Founder Pavel Beinia who discussed the role of influencers and the impact they can have on branding. In his well-researched opinion piece, Beinia goes on to talk about the changing nature of iGaming advertising, and how influencers are increasingly seen as gateways to wider audiences.

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