Each week, CasinoBeats breaks down the numbers behind some of the industry’s most interesting stories. Read on to discover significant Swedish certification, a downgraded revenue forecast for Stride Gaming and a further Hard Rock acquisition.
Dutch gaming authority, the Kansspelautoriteit, has issued a €450,000 fine to the Gibraltar-based Onisac Limited, the company behind casino.com.
The penalty has been compiled in numerous parts. Two €200,000 fines have been issued to the operator after it was found to be offering online games of chance.
The operator has previously been sanctioned by the gaming authority in 2013, making the current infraction the second case of breaching gaming legislation.
Dutch law states that online games of chance are only permitted if a licence is granted, however the current Betting and Gaming Act offers no possibility for this.
Swedish casino content developer Quickspin, a Playtech group company, has been given the nod for 35 of its online slots to be offered in its native Sweden.
In a statement, the developer confirmed that it was now all systems go in the recently re-launched regulated Swedish market. “We’re super happy to announce that we have 35 games that are now officially certified for the Swedish market,” the supplier said.
“Our games have been compliant from the 1st of January this year, in line with the regulations set by the Swedish Gambling Authority, but it’s with great pride that we can share the news that our games are now also officially certified.”
Hard Rock International is expanding its global gaming portfolio via a collaboration with Vici Properties to acquire the Jack Cincinnati Casino in Ohio.
The joint purchase sees Hard Rock acquire the operating assets of the casino – rebranding it Hard Rock Casino Cincinnati – while Vici will retain the land and real estate assets.
“Hard Rock has been the number-one operator in Ohio since opening in the greater Cleveland market in 2013,” said Jim Allen, chairman and CEO of Hard Rock International.
“And now, we look forward to introducing our unique brand of casino entertainment to Cincinnati. On behalf of the 40,000 Hard Rock team members worldwide, I am pleased to welcome the more than 1,000 Jack Cincinnati employees into the Hard Rock family.”
Jack Cincinnati offers 100,000 sq ft of gaming space with 1,800 gaming machines and 100 table games. Additionally, the property contains 33,000 sq ft of meeting space, six restaurants and two bars.
The London AIM-listed Stride Gaming, which operates a number of online bingo and casino brands, today warned that net gaming revenue for the six months to February 28 will be around five per cent lower than expected.
In a statement this morning, the company said: “The board expects to report NGR for the six-month period ended February 28, 2019, approximately five per cent lower than expected, reflecting greater disruption arising from fiscal and regulatory changes implemented in the second half of calendar year 2018.
“Positively, the board sees encouraging signs that the impact of these disruptive factors have now been largely absorbed and the business model is adjusting accordingly. Whilst the board does not expect to recover the first half revenue shortfall through trading in the second half, [it] is confident that its strategy of leveraging the group’s infrastructure and proprietary technology to migrate more mass market, recreational bingo and casino customers onto its higher margin proprietary platform is robust and will deliver strong, long-term, cash-backed value for shareholders.”