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New online casino brand BetCoco launches into crypto betting space across Canada and Brazil after securing licenses

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  • Experienced industry investment vehicle behind land-based casinos in LatAm venture into digital and crypto space for first time with new brand

  • Curacao license secured with India, Malta, Gibraltar, Nigeria and Brazil next territories on the radar

  • Mike Fox, who led an operation to run 30 land-based casinos for a Euronext-listed company, spearheads the launch

  • Group to pride itself on customer satisfaction – offering Las Vegas-style VIP treatment as well as best in class products such as live virtual reality games

  • Brand not deterred by recent crypto market crash, as Mike Fox says “we’ve entered the markets at a perfect time”

BetCoco, a new online casino brand, has launched this month with parent company Crystal Wealth Group (WG) planning to operate across the globe.

The platform offers casino, live casino, sports and esports betting to its customers, as well as incorporating virtual reality rooms for the likes of blackjack, roulette and live sports, so players can immerse themselves in the experience.

The project, led by Mike Fox – former CFO of Thunderbird Resorts, is part of a team who have 15+ years experience in launching Las Vegas-style land-based and online casinos in several emerging markets.

Crystal WG are aiming to create a new user experience offering “more thrill” for customers – something they believe many iGaming operators have lost in their brand promotions in recent years.

They aim to reward customers through various means such as via loyalty points to redeem special rewards, attractive bonuses, and exclusive offers/tournaments.

BetCoco has so far launched its cryptocurrency offering, with fiat to follow, in Canada and much of Latin America before its services will be provided in Brazil and India.

The company currently has a Curacao sub-license as a white label operator and are in the process of procuring their own Curacao license.  They also plan to procure a Malta and Gibraltar license.  They plan to obtain national licenses in Nigeria and Ghana in the short term with long term plans for licensing in certain EU markets, plus identifying parts of Asia and Sub-Saharan Africa as opportunities for the future.

Mike Fox, Chief Financial Officer (CFO) at Crystal WG, said: “BetCoco is a fun brand that offers a fabulous player experience with the leading games and services that the industry has to offer.  Innovation is at the foundation of everything we do through creating the best features to continuously improve our user experience.

“We are launching with crypto, with fiat soon to follow, and are deploying exciting paid media marketing and affiliate campaigns to let the markets know about us.

“The foundation of our vision is a passion for casino wagering and sports betting backed by very strong operational experience in both land-based casinos, sportsbooks, and the iGaming industry.

“Our plan is based on working with the top providers in the industry to build the best core iGaming platform possible that gives us the launching pad to offer multiple brands to multiple markets.

“With the market expected to reach USD 154 billion by 2030, we view BetCoco as our first step into this exploding worldwide market where we hope to earn a meaningful share.”

Crystal Wealth worked in partnership with global marketing and digital specialists Digital Fuel Performance to launch the website of BetCoco.

Following launch, Digital Fuel Performance have been appointed to manage full-service digital marketing and acquisition for BetCoco in both fiat and cryptocurrencies.

Nick McClagish, Group Account Director for Digital Fuel Performance said:

“Crystal Wealth Group appointed Digital Fuel Performance to advise on and execute all aspects of the launch of their flagship casino brand, BetCoco, with a focus on their digital marketing and acquisition objectives, forming a long-term partnership with the joint objective of maximising revenue growth in a range of territories.

“The Crystal Wealth team match our ambition and belief in the potential of cryptocurrency betting and gaming to grow exponentially. Our specialist digital insight matched with their deep understanding of specific LATAM territories and their needs is a perfect match to support our joint bid to make the BetCoco casino brand the best experience possible for customers globally.”

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Canada

SCCG Management Signs Contract with British Columbia Lottery Corporation

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SCCG Management has signed a contract with the British Columbia Lottery Corporation (BCLC), the B.C. Crown corporation which conducts and manages commercial gambling in the province, including lotteries, casinos, and online gaming. This partnership aims to undertake a comprehensive assessment and strategic enhancement of BCLC’s diverse operations.

The work between SCCG and BCLC will involve a thorough review of technological infrastructures, strategic market positioning, and the integration of various gaming modalities. SCCG’s extensive expertise will be pivotal in harmonizing BCLC’s online and physical gaming experiences.

Stephen Crystal, Founder and CEO of SCCG Management, said: “Our collaboration with BCLC represents a remarkable opportunity to push the boundaries of innovation within the gaming industry. We are committed to deploying our resources and expertise to enhance BCLC’s operational efficiencies and customer engagement strategies. It’s an honor to partner with an organization that has a robust impact on the community through its support of public initiatives.”

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AGCO Requires Ontario Gaming Operators to Stop Offering WBA Bets Due to Integrity Concerns

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The Alcohol and Gaming Commission of Ontario (AGCO) has mandated all Ontario-registered sportsbook operators to halt offering and accepting wagers on World Boxing Association (WBA) events immediately. This measure is being taken to protect the Ontario betting public following concerns that WBA-sanctioned boxing matches are not adequately being safeguarded against match-fixing and insider betting.

Since December 2023, the AGCO has been conducting a comprehensive review of suspicious wagering activity on a WBA-sanctioned title fight between Yoenis Tellez and Livan Navarro that was held in Orlando, Florida. Suspicious betting patterns on the bout lasting over 5.5 rounds were reported to the AGCO by two registered independent integrity monitors and detected in Ontario by a registered igaming operator. Media reports also alleged that Tellez’s Manager placed $110,000 on the match lasting longer than 5.5 rounds at a Florida casino. The bout ended with Tellez knocking out Navarro in the 10th round.

Following an intensive review that included outreach to the WBA, Ontario-registered gaming operators, independent integrity monitors, and regulators in other jurisdictions, the AGCO has concluded that bets related to WBA events do not currently meet the Registrar’s Standards for Internet Gaming.

The AGCO requires all Ontario-registered gaming operators to ensure the sport betting products they offer are on events that are effectively supervised by a sport governing body. At a minimum, the sport governing body must have and enforce codes of conduct that prohibit betting by insiders.

Registered gaming operators were unable to demonstrate to the AGCO that the WBA prohibits betting from insiders, which could include an athlete’s coaches, managers, handlers, athletic trainers, medical professionals, or others with access to non-public information. Further, registered gaming operators were unable to demonstrate that the WBA took any action to investigate or enforce the allegations of potential match-fixing and insider wagering.

The AGCO has indicated to registered operators that in order for WBA betting products to be reinstated in Ontario, operators must demonstrate that the WBA effectively supervises its events, thus bringing them into compliance with the Registrar’s Standards. In December 2022, the AGCO required gaming operators to stop offering bets on UFC events for similar issues related to insider betting safeguards. Within a month, UFC amended its policies and implemented new protocols that allowed the AGCO to reinstate betting on UFC events in the province.

“Ontarians who wish to bet on sporting events need to be confident that those events are fairly run, and that clear integrity safeguards are in place and enforced by an effective sport governing body. Knowing the popularity of boxing in Ontario, we look forward to reinstating betting on WBA events once appropriate safeguards against possible match-fixing and insider betting have been confirmed,” Dr. Karin Schnarr, Registrar and CEO of AGCO, said.

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Canada

GiG increases Ontario market presence, powering the launch of Casino Time

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GiG increases Ontario market presence, powering the launch of Casino Time

 

Gaming Innovation Group Inc. (GiG), has announced the launch of Casino Time, powered by its award winning iGaming platform and pioneering real-time rules engine LogicX, with revolutionary sportsbook, SportX soon to follow, to further extend its footprint in the regulated Canadian province of Ontario.

The launch of Casino Time carries extra significance, marking only the second time that on-demand, regulated online Bingo has been made available in Ontario. The new Bingo product vertical, launched alongside a strong Casino offering, will be boosted by GiG’s new sportsbook, SportX, as part of a planned release later this year.

GiG has focused its solutions on driving exponential growth in revenue for operators with its highly scalable iGaming platform, offering localised third party content and leading suppliers for the Ontarian market. GiGs peerless gamification layer creates an optimised and immersive casino experience tailored to regional preferences, swelling client retention and player engagement.

Canadian owned and operated, Casino Time is a joint venture amongst leading retail operators in Ontario’s Charitable Gaming sector, delivering Bingo, Slots and Live Dealer Casino Games. Promising a personalised service and community experience, Casino Time is continuing its long-standing partnership with local charities, introducing its joint fundraising model into the iGaming space for the first time.

Now coming towards the end of its second year of licensed operations, Ontario has emerged as one of the largest iGaming markets in North America, second only to New Jersey according to data supplied by Vixio. The first and as yet only Canadian province to launch a regulated market, Ontario boasts more than 1.6 million active player accounts spread over 40 plus operators, generating €1.3 billion in Gross Gaming Revenue (GGR) in its first year of trading, with this data supplied by iGaming Ontario.

Andrew Cochrane, Chief Business Officer of GiG, said: “GiG continues to set the pace with a strong cadence of brand launches in 2024, and I’m pleased that when operators are seeking platform solutions in regulated markets, GiG is leading the pack. Our partnership with Casino Time, will help deliver something new and exciting to the Ontarian market, and further helps to demonstrate the flexibility of our solutions, adapting to match the regional aspirations of our partners to deliver growth.”

D’Arcy Stuart, CEO of Casino Time, said: “We are thrilled to partner with GiG as the core technology provider of our iGaming platform. Their powerful suite of player engagement tools, as well as diverse content and regulatory integrations, underpin our ability to serve and delight our player community. Our hybrid online and offline customer network, as well as unique bingo offerings, will drive exciting opportunities as the platform and the marketplace continues to grow.”

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