Latest News
World leading betting integrity body expands operations in Brazil – move comes in response to impending government regulation
IBIA’s unique monitoring network already covers 60% of the Brazilian market
The International Betting Integrity Association (IBIA), a world leading industry-led sports integrity organisation that represents over 120 licensed sports betting brands globally, will expand its integrity monitoring and wider anti-match-fixing operations in Brazil. The expansion comes in response to upcoming government regulation, the rapid growth of the Brazilian sports-betting market, and IBIA data confirming that Brazilian sport is a regional target for criminal match-fixers.
IBIA is the largest operator-run integrity monitor in Europe and is a leading player across newly opened North American jurisdictions such as Ontario. According to H2 Gambling Capital – the leading independent authority on global gambling market data – IBIA members are estimated to already account for over 60% of the remote gambling market in Brazil. That leading market position will enable IBIA to provide a highly accurate analysis and effective deterrent against match-fixing related betting fraud in Brazil. IBIA is therefore uniquely positioned to support a crack-down on match-fixing in the country.
Speaking in advance of the government’s Provisional Measure on sports betting regulation, Khalid Ali, IBIA CEO, said: “We welcome the Brazilian government’s decision to regulate the sports betting industry as an overwhelmingly positive move. As IBIA’s 2021 optimum betting market study confirms, balanced and efficient sports betting regulation is part of the solution to sports betting related match-fixing. IBIA looks forward to working with policymakers to ensure Brazil enjoys the full benefits of a dynamic and competitive sports betting market, whilst reducing the risks of match-fixing.”
IBIA is committed to sharing data with sports, regulators and law enforcement that enables those bodies to identify, investigate and prosecute match-fixers with a high degree of precision. The association achieves this by cross-referencing alerts raised by the highly sophisticated security systems of its members to identify suspicious betting potentially linked to match-fixing. IBIA’s members can then provide unique account-level data to use as evidence in subsequent investigations.
Khalid Ali adds: “What sets IBIA apart from commercial monitoring systems is the ability to track transactional activity linked to individual consumer accounts rather than analysing simple odds movements. No other sports integrity solution can provide access to this data, which covers over US$137bn in sports betting turnover per annum, making IBIA the largest and most effective integrity network of its nature globally.”
H2 Gambling Capital estimates that the Brazilian sports betting market grew by 44.4% from 2021 to 2022 reaching BRL4,506m (US$940m) in gross gambling revenue (GGR), and is projected to reach BRL9,265m (US$1,860m) in GGR by 2027 (105% increase). Given this rapid growth, IBIA and its members are particularly focussed on utilizing the attributes of its unique global monitoring and alert system to bolster the protection of the regulated betting market and sporting events in Brazil.
IBIA’s recently published Q1 Integrity Report contains a targeted analysis of alerts in the Latin American market, with 105 suspicious alerts across the region during 2018-22. Brazil was the main source of suspicious betting alerts across LatAm (31%), with football accounting for the majority (61%) of those.
Khalid Ali continues: “IBIA is a not-for-profit body that has no competing conflicts from the delivery of commercial services to other sectors; the association is run by operators for operators with a core mission to protect regulated sports betting markets, especially for sports and consumers. Responsible regulated sports betting operators have a significant incentive to help crack-down on match-fixing and IBIA intends to be at the forefront of that preventative action in Brazil.
“IBIA’s advocacy expertise and monitoring and alert network will have a vital role to play in helping Brazil successfully deter, investigate and prosecute match-fixing. As part of our expansion, we aim to utilise data sharing agreements with regulators, sports and law enforcement agencies to ensure the integrity of Brazilian sport and the regulated betting market. Our experience in education and cross-sector programmes such as IBIA’s Data Standards group, involving major global sports betting data companies, can also make a significant contribution to protecting Brazilian sport from the dangers of match-fixing.”
Latest News
Sportradar Names New CFO, Craig Felenstein
Sportradar Group AG today announced that Craig Felenstein has been named Chief Financial Officer of the Company, effective June 1, 2024. Felenstein joins the Company from Lindblad Expeditions where he most recently served as Chief Financial Officer. He will report directly to Sportradar Chief Executive Officer Carsten Koerl.
Felenstein brings nearly 30 years of senior finance and operating experience for US publicly listed companies across the media, entertainment, experiential and digital content industries to his new position at Sportradar. Most recently, Felenstein served as Chief Financial Officer at Lindblad Expeditions, a global leader in expedition cruises and adventure travel, where he oversaw the company’s global finance organization, as well their corporate development, information technology and human resources functions. In his role as Sportradar’s Chief Financial Officer, Felenstein will lead the company’s global finance, accounting and investor relations functions. Felenstein has a unique blend of financial rigor and operational insight and will partner with the rest of the executive leadership team to advance the company’s key strategic initiatives and grow the business while maintaining strong relationships with the investment community. He will be based in New York.
Carsten Koerl, CEO, Sportradar said: “With Craig’s deep international experience and successful track record building finance organizations as a CFO at US listed public companies, I am confident that he will be a strong addition to our team. His track record of helping drive financial strategy and building shareholder value will be instrumental to our continued success. We want to express our deep gratitude to Ger Griffin for his meaningful contributions to Sportradar during a transformational growth period for our Company.”
Prior to his tenure at Lindblad, Felenstein served as Senior Vice President of Investor Relations and Strategic Finance at Shutterstock where he oversaw all interaction with the investment community while leading the financial planning and analysis and corporate development functions. Prior to Shutterstock, he served in various management roles at Discovery Communications, LLC, including Executive Vice President of Investor Relations. At the same time, he was a member of the executive team for several of Discovery’s businesses including serving as the Chief Financial Officer of Digital, Chief Financial Officer of US Network Revenue and Chief Financial Officer of Animal Planet. Prior to Discovery Communications, he held senior positions at News Corporation, Viacom Inc., and Arthur Andersen & Co.
Felenstein said: “Sportradar has built an impressive leadership position in the rapidly growing global sports technology market and the Company is ideally situated to deliver sustained growth given their strong content portfolio, unmatched product offerings and commitment to industry innovation. I am excited to work with Carsten and the entire Sportradar team, as well as the Board of Directors, to capitalize on the significant growth opportunities ahead and deliver additional value to our clients, partners and shareholders.”
Compliance Updates
Brazil’s Ministry of Finance Appoints Régis Dudena as Secretary of Prizes and Betting
Regis Dudena, a seasoned lawyer with expertise in Public and Regulatory Law, has been appointed as the new Secretary of Prizes and Betting at the Ministry of Finance in Brazil. Dudena’s appointment ordinance is signed by Rui Costa, Minister of the Civil House.
The new secretary had already been visiting the Ministry of Finance and getting closer to the entire group at the Secretariat of Prizes and Betting, until then led by Simone Vicentini, deputy secretary.
The appointment of the lawyer is attributed to the Executive Secretary of Finance, Dario Durigan. Dario and Dudena worked together at Palácio do Planalto during Dilma Rousseff’s government.
Both worked in the Legal Affairs secretariat of the Civil House. Dudena’s name is linked to other names on the left. He has good relations with Edinho Silva (PT), mayor of Araraquara (SP).
The SPA started operating two months ago. Since then, it had been without a permanent boss. Lawyer José Francisco Manssur, special advisor to the Ministry of Finance who coordinated the regulation of sports betting from the beginning, was the most likely to take on the position. But he was exonerated under pressure from Centrão politicians.
Bets representatives welcomed the name Régis Dudena.
From the beginning, the SPA was under the responsibility of Simone Vicentini, appointed as deputy secretary. Since then, it has edited the ordinances that defined requirements for laboratory accreditation and the sector’s regulatory policy.
Under her supervision, three laboratories have already been approved, GLI, eCogra, and BMM. Last week, the ordinance establishing the rules for payment transactions to be complied with by sports betting and online gaming operators was also published.
Industry News
Gaming and Leisure Properties Appoints Debra Martin Chase to Board of Directors
Gaming and Leisure Properties Inc. announced that Debra Martin Chase has been appointed to the Board of Directors as a new independent director, effective immediately, to fill the vacancy created by the previously disclosed passing of JoAnne A. Epps.
The appointment of Ms. Chase to the Board of Directors brings the total number of directors to eight, seven of whom are considered independent according to the listing standards of the Nasdaq Stock Exchange. Ms. Chase has also been appointed as a member of the Nominating and Corporate Governance Committee of the Board of Directors, effective immediately. Ms. Chase will hold her directorship until the Company’s next annual meeting of shareholders or until her successor is duly elected and qualified or until her earlier death, disqualification, resignation, or removal.
Ms. Chase is the founder and Chief Executive Officer of an entertainment production company doing business as Martin Chase Productions. She is a two-time Tony Award winning, a Peabody Award winning, and three-time Emmy nominated television, motion picture, and Broadway producer. Ms. Chase is an entertainment industry trailblazer, being the first female African American producer to have a deal with a major motion picture studio. Her films have grossed over $500 million at the box office. She brings to the Company over 30 years of experience in motion picture and television production as well as a corporate legal background.
Peter Carlino, Chairman and Chief Executive Officer of GLPI, said: “I am delighted to welcome Debra to our Board as we believe her extensive entertainment industry experience, impressive legal background and broad board experience across public companies and the arts will serve GLPI well as we continue to drive growth in shareholder value. She brings a wealth of knowledge to GLPI, which we believe is a perfect complement to the existing strengths of the Board. I am confident that she will help expand the diverse set of viewpoints that ultimately shape our mission.”
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