Daily news: Key Industry Updates and Regulatory Changes in the Global Gambling Sector

Stay informed about the latest developments in the global gambling industry. Discover why the Italian gambling sector is opposing a dramatic increase in license fees, learn about XLMedia's challenges in North America, and explore the UKGC's efforts to bring transparency to financial penalties. Find out how Australian operators violated live sports betting rules and why Liechtenstein extended its online gambling ban. Discover how Curacao is reducing annual license fees. Stay up-to-date with the ever-evolving world of gambling regulation and business.

The Italian gambling sector has opposed an increase in license fees to €7 million

This is 35 times more than the current value (€200 000). At the same time, each operator will be allowed to manage 5 brands. According to forecasts, the reform will reduce the total number of operators in the market from 91 to 20. Industry representatives are also concerned about the lack of advertising and sponsorship measures that contribute to the development of the illegal gambling market.

As part of the gambling reform carried out by the Ministry of Economy and Finance (MEF), the rules to combat illegal gambling will be changed. The reform will be completed in 2024.

XLMedia shares fall to record low after announcing decrease in revenue in 2023

The reason is the company's problems in North America associated with a decrease in marketing efficiency and the departure of its main partner from the market. The shares are down 23% to their lowest level (5.86p a share) since the moment of listing in 2014. The group's revenue for the year is expected to be around $50-52 million and adjusted EBITDA - $12-14 million. However, XLMedia plans to develop its European brands and strengthen its position in North America.

UKGC launches new consultation on financial penalties in the gambling industry

The consultation will last 13 weeks and will bring "clarity and transparency" to the calculation of fines, as well as financial reporting and globalization of the industry. The issue of calculating fines based on the GGY received during the violation will also be considered. The consultation follows a review of the Gambling Act White Paper. From April 2022 to March 2023, total UK GGY grew by 6.8% to $19 billion. 2/3 of Britons hide problem gambling: GambleAware study.

4 leading online operators violated rules of live sports betting: Australian regulator (ACMA)

These included Entain's Ladbrokes and Neds, as well as Hillside's Bet365 and Sportsbet. The Australian Interactive Gambling Act 2001 prohibits live betting on sports matches with certain exceptions. These include betting using a phone call. The ACMA noted that brands have already taken steps to comply with betting rules. This week, ACMA blocked 11 offshore gambling and affiliate sites in the country. In total, since the introduction of the new rules, ACMA has blocked 893 illegal sites.

The Liechtenstein government has extended the ban on online gambling until 2028

In 2010, gambling was legalized in the country but the inability to obtain a license led to its ban. The government has now extended the deadline for reviewing license applications until 2028. This decision will have a negative impact on those wishing to enter the market of this small but rich country. Liechtenstein also signed an agreement with Switzerland to exchange information on banned players. The goal is to ensure the protection of players in both countries.

Curacao reduces the cost of the annual license fee to €49.2 thousand

The changes in legislation were announced by the Minister of Finance of Curacao, Javier Silvania. There will also be an additional charge of €250 for each operator domain. Legislative changes also include:

• issuance of separate licenses for B2B and B2C;
• enhanced measures against money laundering and illegal gambling;
• requiring operators to provide at least three employees on the island.

The license currently costs €61.7k and includes up to 40 domains, with a €250 fee for additional sites.