Latest News

Paysafe to Acquire PagoEfectivo

Published

4 years ago

August 5, 2021

Payment solutions provider Paysafe has signed a definitive agreement to acquire the Peruvian alternative payments (APM) platform PagoEfectivo.

For Paysafe, this latest investment is a strategic foothold in Latin America, one of the world’s fastest-growing online markets where merchants and consumers alike are demonstrating an increased appetite for alternative payment methods and online banking solutions.

PagoEfectivo, a subsidiary of Empresa Editora El Comercio S.A., (Grupo El Comercio), is a market leader in Latin America in the provision of eCash and online banking payments that allow merchants to offer alternative payment methods (APMs) at the check-out, in turn enabling more consumers in the region, many of whom are underbanked, to transact online.

As part of the deal, the PagoEfectivo team, including CEO, Juan Fernando Villena, will join Paysafe and become part of the company’s growing global eCash and online banking solutions team.

“I am thrilled we are announcing this acquisition. The APM market in Latin America is a thriving one and PagoEfectivo is a market leader in eCash and online banking solutions and the team also brings deep banking relationships and 140,000 distributor partnerships across Peru and Ecuador. We continue to see increasing demand from online merchants wanting to integrate the full payments offering into their check-out, be that seamless card, wallet, cash or bank transfer solutions – and to be able to do this internationally across multiple markets. Once integrated, we believe we will have the opportunity to add new revenues as we cross-sell to each other’s international merchant bases,” Udo Mueller, CEO of Paysafe’s eCash division, said.

“This acquisition reinforces our strategy of investing in, and growing our core, specialized offering in payments processing, digital wallets, eCash and online banking solutions and gives us an important, strategic foothold in Latin America; a region which is expanding fast in eCommerce in general and specifically in the specialized vertical industries such as iGaming, travel, entertainment and digital goods which are very much our sweet spot. Our cloud-based technology stack and global enterprise relationships will only help accelerate PagoEfectivo’s very strong growth. We very much look forward to welcoming the PagoEfectivo team onboard,” Philip McHugh, CEO of Paysafe, said.

“The sale of PagoEfectivo has generated high levels of interest because of PagoEfectivo’s excellent performance over recent years as well as its future growth potential. This performance is the result of the continuous growth of eCommerce in this region as well as our Group’s ability to create compelling new digital brands and products. I’m excited for the PagoEfectivo team as they embark on this next stage of their journey, now as part of a specialized payments company that is investing in alternative payments around the world. On behalf of the entire Grupo El Comercio team, we wish the team all the very best for the future; I believe this sale will be a success story for all concerned,” Mariano Nejamkis, Grupo El Comercio’s General Manager of Press and Digital Businesses, said.

Estudio Rodrigo is serving as Paysafe’s legal and regulatory counsel on the acquisition. The transaction is expected to close by the end of August, subject to customary closing conditions. Until then, the two groups will continue to operate as independent organizations. The financial terms of the transaction were not disclosed.

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Industry News

Maryland Casinos Generate $165.7 Million in Gaming Revenue During July

Published

50 minutes ago

August 7, 2025

Niji Narayan

Maryland’s six casinos combined to generate $165,661,894 in revenue from slot machines and table games during July 2025. The statewide total was down $4,159,416 (-2.5%) compared to July 2024.

Casino gaming contributions to the state during July 2025 totaled $71,857,827, a decrease of $305,727 (-0.4%) compared to July 2024. The July 2025 contributions included $51,742,064 to the Education Trust Fund, a decrease of $272,892 (-0.5%) compared to July 2024.

Casino gaming revenues also support the communities and jurisdictions where the casinos are located, Maryland’s horse racing industry, and small, minority- and women-owned businesses.

Maryland’s six privately owned casinos offer both slot machines and table games: MGM National Harbor in Prince George’s County; Live! Casino & Hotel in Anne Arundel County; Horseshoe Casino Baltimore in Baltimore City; Ocean Downs Casino in Worcester County; Hollywood Casino Perryville in Cecil County; and Rocky Gap Casino Resort in Allegany County.

The gaming revenue totals for July 2025 were as follows:

MGM National Harbor (2261 slot machines, 208 table games)

$68,587,339 in July 2025, a decrease of $3,396,384 (-4.7%) from July 2024

Live! Casino & Hotel (3832 slot machines, 179 table games)

$59,702,771 in July 2025, a decrease of $2,860,124 (-4.6%) from July 2024

Horseshoe Casino (1365 slot machines, 115 table games)

$14,415,536 in July 2025, an increase of $1,098,302 (8.2%) from July 2024

Ocean Downs Casino (900 slot machines, 18 table games)

$10,236,754 in July 2025, an increase of $615,672 (6.4%) from July 2024

Hollywood Casino (731 slot machines, 23 table games)

$7,622,642 in July 2025, an increase of $325,372 (4.5%) from July 2024

Rocky Gap Casino (630 slot machines, 12 table games)

$5,096,851 in July 2025, an increase of $57,746 (1.1%) from July 2024.

Compliance Updates

Illinois Gaming Board Announces Enhanced, Uniformed Advertising Rules for Casinos, Video Gaming and Sports Wagering

Published

56 minutes ago

August 7, 2025

Niji Narayan

The Illinois Gaming Board (IGB) adopted new rules that expand existing restrictions on advertising, marketing and promotions for licensed casino, video gaming, and sports wagering operators including a ban on advertising on college campuses and new requirements to protect the public, especially young people and problem gamblers.

“By adopting these measures, the IGB is building upon existing regulations to implement additional safeguards and standards that further protect the public and encourage responsible gambling habits. These regulations provide for clear, consistent, ethical, and transparent advertising and marketing guidelines for all casino, video gaming, and sports wagering operations under IGB jurisdiction,” said IGB Administrator Marcus D. Fruchter.

While previous IGB rules placed restrictions on advertising and promotional content which included prohibitions against false or misleading claims and other restrictions, the new rules go farther to ensure advertisements are not placed in locations where they are likely to be seen by underage or vulnerable populations. The expanded rules also require operators to maintain advertising records and include prominent, responsible gaming messages in advertising, marketing and promotions.

After assessing the advertising and marketing rules for sports wagering adopted in 2020, the IGB determined that those limitations apply equally to video gaming and casinos. The IGB further determined to enhance the existing rules to best assure an ethical advertising environment that restricts enticements to minors and those with gambling problems.

The revised advertising and marketing rules which expanded and codified practices for all gambling segments under IGB jurisdiction are now effective, following a public notice and comment period, the May 13, 2025 approval from the Illinois General Assembly’s Joint Committee on Administrative Rules (JCAR), and publication by the Secretary of State in the Illinois Register Issue 31 on August 1, 2025.

The rules feature requirements for Illinois operators including:

• Prohibition from having advertisements or promotions published, aired, broadcast, displayed, or distributed on any college or university campus, or college or university media outlets such as college or university newspapers and radio or television broadcasts, or any sports venues used primarily for college and university events.

• Prohibition from depicting college or university students, colleges or universities, or college or university settings.

• Retention of copies of all advertising and marketing materials including a log of when and how those materials have been published, aired, displayed, or distributed.

• Allowing patrons the option to unsubscribe or opt out of advertising, marketing or promotional materials. Additionally, operators should comply with any patron request to unsubscribe or opt out of receiving materials as soon as practicable.

• Prohibition on entering into agreements with third parties to conduct advertising or marketing on behalf of, or to the benefit of, the Illinois operator when compensation is dependent upon, or related to, the volume or outcome of wagers.

• Include problem gambling text as determined by the Illinois Department of Human Services in all advertising and marketing materials.

Latest News

VIP Play and Decentral AI Announce Strategic Partnership to Shape the Future of AI-Powered Sports Entertainment

Published

58 minutes ago

August 7, 2025

Niji Narayan

VIP Play Inc., a leader in immersive sports entertainment technology, and Decentral AI, the universal AI orchestration platform, have announced a groundbreaking partnership designed to redefine the future of entertainment through responsible, scalable, compliant, and intelligent AI deployment. Together, they are not just implementing technology – they are defining how the entire sports industry will leverage AI for the next decade.

This collaboration is unlocking transformative capabilities:

• Data analytics that create more engaging, hyper-personalized experiences

• Predictive insights that anticipate needs before they’re expressed.

Through the partnership, VIP Play is:

• Setting the gold standard for AI governance and player data protection globally

• Building AI systems that optimize operations while maintaining strict compliance

• Creating a competitive advantage of compliant AI that will compound over the coming years

• Establishing a model that other entertainment companies will aspire to follow.

“We’re not just deploying AI—we’re defining how the industry will responsibly evolve with AI over the next decade. Decentral AI provides the flexibility, compliance, and intelligence that allows us to personalize and elevate player experiences at scale. This partnership gives us a strategic edge while ensuring we lead with integrity. All of our innovation with AI will be designed in a Compliance First approach and technical methodology,” said Les Ottolenghi, CEO of VIP Play.

This partnership opens doors to:

• Experience Expansion: Focus AI on the entertainment aspects of the fan experience for Sports and Sporting Events

• Innovation Leadership: Joint development of AI capabilities that don’t exist anywhere else in the industry

• Industry Transformation: Setting new benchmarks for what’s possible when AI meets entertainment

• Strategic Advantage: Creating barriers to entry that protect market position while driving industry-wide innovation.

Partnering with VIP Play unlocks AI’s full potential in sports entertainment. Our platform ensures their models run securely across any infrastructure, while maintaining complete data sovereignty and compliance. Together, we’re building the backbone for an intelligent, ethical, and scalable future in entertainment,” said Marouen Helali, Founder of Decentral AI.

As the entertainment industry continues to evolve, the partnership between VIP Play and Decentral AI positions both companies at the forefront of innovation. This collaboration goes beyond technology—it’s a shared commitment to shaping the future of entertainment through responsible AI deployment.