Latest News
Brazil President Bolsonaro Signs Decree that Privatizes Sports Betting
Jair Bolsonaro, the President of Brazil, has signed a decree formally adding sports betting to the country’s Investment Partnership Program (PPI) portfolio and national privatization program.
The decree also hands state-owned bank Banco Nacional de Desenvolvimento Econômico e Social (BNDES) and the Ministry of the Economy control of developing and running a process to select sports betting operators.
BNDES and the Ministry will begin work on developing the bidding process, which is likely to be similar to that used to facilitate the sale of instant win lottery business Loteria Exclusiva Instantânea (Lotex) in October 2019.
Waldir Marques, undersecretary for prizes and sweepstakes at the Secretariat of Evaluation, Planning, Energy, and Lottery (SECAP) within the Ministry, said multiple operators would be allowed to enter the market, and talked up the benefits of legalization.
“According to industry press, it is estimated that Brazilians send BRL2bn to BRL8bn abroad via international [gambling] sites, as the vertical is not regulated in the country,” Marques said.
“This indicates that the legalisation of sports betting in Brazil will provide greater security for bettors, new jobs and more income, in addition to preserving sporting integrity, which is a key condition of regulation.”
Marques added that legal wagering would also boost federal coffers through the 3% turnover tax on sports betting, included in the legislation signed into law by then-President Michel Temer in December 2018.
The country’s sports betting market was originally expected to launch before the end of 2020, though the late shift away from the qualitative model is expected to see the legal wagering go live next year.
Latest News
Caesars Entertainment Closes Sale of the LINQ Promenade
Caesars Entertainment announced the closing of the previously announced sale of the LINQ Promenade to a joint venture formed between TPG Real Estate (TPG) and the Investment Management Platform of Acadia Realty Trust (Acadia) for $275 million. Concurrent with the closing of the transaction, Caesars made a $275 million voluntary prepayment of the Term Loan B due 2030 with the proceeds from the transaction.
Latham & Watkins LLP and Brownstein Hyatt Farber and Schreck LLP represented Caesars on the transaction. Kirkland & Ellis LLP provided transaction counsel to TPG & Acadia.
Latest News
The Stampede Continues with Aristocrat Interactive’s Buffalo Gold Max Power
Aristocrat Interactive, Aristocrat’s online Real Money Gaming (RMG) division, announced that the stampede continues with the launch of Buffalo Gold Max Power in the US. This marks the fifth online game in the award-winning and iconic Buffalo portfolio, following the success of Buffalo, Buffalo Gold Collection, Buffalo Chief, and Buffalo Gold Revolution.
Buffalo Gold Max Power builds on the legacy and popularity of Buffalo Gold, a fan-favorite in land-based casinos. This online adaptation is born to entertain with new features powered by Aristocrat’s proprietary Max Power mechanic, offering players up to 46,656 ways to win free spins and collect Gold Buffalos. With dynamic reels that vary from 2 to 6 symbols on every spin and a redefined feature, Buffalo Gold Max Power is ready to create a stampede of excitement.
“For more than a decade, our iconic Buffalo games have captivated players as some of the most iconic slot games in land-based casinos. With Buffalo Gold Max Power, we’re bringing this timeless favorite online with enhanced gameplay and features that players will love. The launch in New Jersey is an exciting milestone as we continue to deliver innovative and memorable gaming experiences globally,” said Josh Morris, SVP Content at Aristocrat Interactive Content & Aggregation.
Earlier this year, Buffalo was awarded the winner of the Top Performing Omni-Channel Slot at the EKG Awards. The launch of Buffalo Gold Max Power is the latest step in Aristocrat Interactive’s strategy to expand Aristocrat’s industry-leading content portfolio into the online space. The game is currently available with online operators in New Jersey, Ontario, Canada and the UK, with more markets to follow overtime.
Compliance Updates
JCM Global Receives Approval to Operate in West Virginia
JCM Global announced that it has successfully passed regulatory review and received a manufacturer’s license from the West Virginia Lottery Commission. The license enables JCM to directly sell to and service customers in the state.
“At JCM, we are committed to our customers. While attaining licensing was not required, we pursued it because it allows us to directly provide JCM’s leading technology and advanced systems, backed by our world-class service, and support, resulting in faster service times and simplifying the entire relationship between JCM and our customers,” said JCM SVP – Sales, Marketing & Operations Dave Kubajak in a statement.
JCM recently announced it has attained licenses in Colorado and New Mexico, bringing the company’s total number of active gaming licenses to 177.
In West Virginia, JCM will provide technology, including the iVIZION bill validator; ICB Intelligent Cash Box System, which boosts security and efficiencies across the gaming floor; and the GEN5 thermal printer, which delivers TITO, personalized promotions, and rewards directly to the player.
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