GIG - Q2 rapport
Gaming Innovation Group Inc. (GiG) reports Q2 2019 revenues of €31.0 million and an EBITDA of €2.5 million.
“With the second quarter behind us, the outlook has improved. I am confident that the recent strategic actions we have taken will lead to revenue growth and an improved bottom line in H2. It has been a quarter with some headwind, primarily due to a tougher Swedish market.
Our global expansion will be driving sequential growth in both B2C and B2B in H2 and we will manage that growth with a strong focus on execution as the Company is heavily focused on improving earnings per share.”, says Robin Reed, CEO of GiG.
Financial highlights
● Revenues for Q2 2019 were €31.0m (36.9), impacted by the Swedish market and termination of a customer contract in Q4 2018
● EBITDA was €2.5m (1.7) in Q2 2019, corresponding to an EBITDA margin of 8.1% (4.6)
● Revenues for the B2B segment in Q2 2019 were €13.1m (15.6). EBITDA was €2.1m (4.4)
● Revenues for the B2C segment in Q2 2019 were €19.6m (24.2), with a positive EBITDA of €0.4m (-2.8)
● Other operating expenses quarter-on-quarter decreased by 2% in Q2 2019 as a result of increased efficiencies and cost-savings across the organisation
● Cash flow from operations in Q2 2019 was €3.2m (8.2)
Operational highlights
● GiG partnered with New Zealand's largest entertainment company SkyCity Entertainment Group on 21 May for a turnkey, fully managed online casino solution, launch date was 8 August
● One new brand was signed to Platform Services in Q2 2019, two customers were launched in April with an additional three brands in the pipeline for launch. The total number of brands on the platform is 35
● Rizk launched a dedicated and branded live casino studio on 11 June and the brand was also launched in India
● In August, GiG divested its brand Highroller to affiliate and operator Ellmount Gaming Ltd. for a total price of €7 million. The acquirer will become a B2B customer of GiG and continue to operate Highroller on GiG’s platform
● GiG was granted B2B and B2C licences for online casino and sports betting in Spain and a Class II licence in Romania, allowing affiliate marketing
● A new SEK400m senior bond was issued on 14 June with a SEK1,000m borrowing limit, refinancing part of the existing bond and credit facilities
Outlook
● The Company is expecting both sequential revenue growth and improved bottom line as its global expansion is driving growth in both B2B and B2C in H2
● Growth will be managed with strong focus on execution and cost control
Investor presentation and webcast:
CEO Robin Reed will present the Q2 results at 10:00 CET at Helio GT 30, Grev Turegatan 30, Stockholm. The presentation will be given in English and available live via webcast and via a telephone link. Questions can be asked via this web link:
https://tv.streamfabriken.com/gig-q2-2019
“With the second quarter behind us, the outlook has improved. I am confident that the recent strategic actions we have taken will lead to revenue growth and an improved bottom line in H2. It has been a quarter with some headwind, primarily due to a tougher Swedish market.
Our global expansion will be driving sequential growth in both B2C and B2B in H2 and we will manage that growth with a strong focus on execution as the Company is heavily focused on improving earnings per share.”, says Robin Reed, CEO of GiG.
Financial highlights
● Revenues for Q2 2019 were €31.0m (36.9), impacted by the Swedish market and termination of a customer contract in Q4 2018
● EBITDA was €2.5m (1.7) in Q2 2019, corresponding to an EBITDA margin of 8.1% (4.6)
● Revenues for the B2B segment in Q2 2019 were €13.1m (15.6). EBITDA was €2.1m (4.4)
● Revenues for the B2C segment in Q2 2019 were €19.6m (24.2), with a positive EBITDA of €0.4m (-2.8)
● Other operating expenses quarter-on-quarter decreased by 2% in Q2 2019 as a result of increased efficiencies and cost-savings across the organisation
● Cash flow from operations in Q2 2019 was €3.2m (8.2)
Operational highlights
● GiG partnered with New Zealand's largest entertainment company SkyCity Entertainment Group on 21 May for a turnkey, fully managed online casino solution, launch date was 8 August
● One new brand was signed to Platform Services in Q2 2019, two customers were launched in April with an additional three brands in the pipeline for launch. The total number of brands on the platform is 35
● Rizk launched a dedicated and branded live casino studio on 11 June and the brand was also launched in India
● In August, GiG divested its brand Highroller to affiliate and operator Ellmount Gaming Ltd. for a total price of €7 million. The acquirer will become a B2B customer of GiG and continue to operate Highroller on GiG’s platform
● GiG was granted B2B and B2C licences for online casino and sports betting in Spain and a Class II licence in Romania, allowing affiliate marketing
● A new SEK400m senior bond was issued on 14 June with a SEK1,000m borrowing limit, refinancing part of the existing bond and credit facilities
Outlook
● The Company is expecting both sequential revenue growth and improved bottom line as its global expansion is driving growth in both B2B and B2C in H2
● Growth will be managed with strong focus on execution and cost control
Investor presentation and webcast:
CEO Robin Reed will present the Q2 results at 10:00 CET at Helio GT 30, Grev Turegatan 30, Stockholm. The presentation will be given in English and available live via webcast and via a telephone link. Questions can be asked via this web link:
https://tv.streamfabriken.com/gig-q2-2019
Redigert 21.01.2021 kl 09:15
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Dealsen
15.08.2019 kl 20:25
7678
Det bør komme flere signeringer. Det har jo ikke akkurat vært mange av dem. HR og SkyCity. Jeg tror også måten å formulere seg på er bevisst, for å gjøre seg mer populære. GIG har altså et luksusproblem med at så mange kommer til dem at de må sile ut klinten fra hveten. Det høres nesten litt for godt ut til å være sant. Og kommer det en signering etter hvert, så betyr det ikke nødvendigvis at det står en haug av flotte kunder i kø og bare håper på et "ja" fra GIG :)
bokaj70
15.08.2019 kl 20:41
7664
Den havde jeg faktisk overhørt. Det er en ret stærk udmelding og giver trods alt noget håb for fremtiden.
Dealsen
15.08.2019 kl 20:46
7655
Jeg håper det kommer mange solide signeringer fremover. Når kursen har rast som den har gjort, så er det lett og kun se det negative. Samtidig så synes jeg kritikken og refleksjonene som har kommet frem er på sin plass. Det er absolutt ikke alt som er så rosenrødt, som man kan få inntrykk av i presentasjonene. Jeg håper selvsagt at GIG lykkes til den store gullmedaljen!
Høres lovende ut spør du meg.
Så lenge etterspørselen er såpass stor at vi kan velge og vrake hvilke vi vil inngå avtaler med, og hvilke vi siler ut, så burde vi jo kunne ta oss godt betalt også 👍
Så lenge etterspørselen er såpass stor at vi kan velge og vrake hvilke vi vil inngå avtaler med, og hvilke vi siler ut, så burde vi jo kunne ta oss godt betalt også 👍
Exp3rten
15.08.2019 kl 22:47
7546
Det tar tid å omstille seg, noe vi har sett klart og tydelig med Gig. Selskapet har vært tvunget til å skifte om kursen ifb med den svenske reguleringen. Både store og små selskaper har blitt tynget av dette, og spesielt de små, som har vært majoriteten av Core-kundene, har hatt en svært vanskelig tid. Et svært kompetent styre så dette tidlig, og har nå klart å legge om kursen. Selv om Core mangler 10-15 mill EUR i forventet omsetning tror jeg det vil komme. Mange har kritisert HR-avtalen, men denne var selve nøkkelen til at de nå har funnet sitt markedet - landbaserte casino. Her tror jeg de har fått et bra fotfeste. Flere avtaler vil også øke populæriteten, og de gjør stadig fremskritt teknologisk. Med Sky City tok det ca 2 mnd fra de signerte til de var online. Det er fantastisk.
HR vil også komme med tiden, og snart kjører de på i en ny stat sammen med GiG. Denne ballen vil etter hvert begynne å rulle svært fort.
I tillegg ryktes det at andre avtaler står for tur....
HR vil også komme med tiden, og snart kjører de på i en ny stat sammen med GiG. Denne ballen vil etter hvert begynne å rulle svært fort.
I tillegg ryktes det at andre avtaler står for tur....
Bobby Dobolina
16.08.2019 kl 16:29
7174
Positiv utviklingen i volumet i dag, ender flatt, men positiv sluttauksjon. Blir spennende å følge denne utover neste uke, tror det er gode sjanser for en rekyl tilbake til 11-12 i første omgang.
Dealsen
16.08.2019 kl 16:42
7158
Det hadde vært flott hvis vi kommer oss over kr. 10 igjen - og holder oss over det til neste kvartalspresentasjon.
Warom
16.08.2019 kl 16:49
7150
Greit å få også dagens insidekjøp med.
"Henrik Persson Ekdahl, board member and primary insider of Gaming Innovation Group Inc. (“GiG”) has today purchased 26,800 GiG shares at an average share price of NOK 9,29. After this transaction, Henrik Persson Ekdahl owns 4,641,125 shares in GiG."
Nå har han kjøpt nesten 120k aksjer på to dager. Det siste er jo ikke ett "enormt" kjøp(sett mot hans beholdning), men det er ikke lett å kjøpe GIG nå uten å drive prisen oppover. Håper på enda flere insidekjøp fremover nå 🙂
"Henrik Persson Ekdahl, board member and primary insider of Gaming Innovation Group Inc. (“GiG”) has today purchased 26,800 GiG shares at an average share price of NOK 9,29. After this transaction, Henrik Persson Ekdahl owns 4,641,125 shares in GiG."
Nå har han kjøpt nesten 120k aksjer på to dager. Det siste er jo ikke ett "enormt" kjøp(sett mot hans beholdning), men det er ikke lett å kjøpe GIG nå uten å drive prisen oppover. Håper på enda flere insidekjøp fremover nå 🙂
Dealsen
19.08.2019 kl 11:09
6888
Ett par saftige avtaler med landbased casinos, i løpet av året, hadde gjort seg! Det er ingenting som hadde vært bedre enn om GIG hadde blitt den foretrukne partner når cssino går online :)
Warom
19.08.2019 kl 14:30
6773
Jeg vet ikke hvor mange som legger merke til det(nå når de fleste er kommet ut med Q2 tallene) men se litt på GIG Media satt opp mot feks Catena Media og Netgaming(som er rene affiliates) siste halvår og år.
Jeg mener det er en imponerende jobb GIG Media her gjør og det er stort sett "all time high" på det meste, noe en vel kanskje ikke kan si det er for "de andre"
Jeg mener det er en imponerende jobb GIG Media her gjør og det er stort sett "all time high" på det meste, noe en vel kanskje ikke kan si det er for "de andre"
Dealsen
19.08.2019 kl 14:55
6748
Vi får bare satse på at 2020, er året det snur i regnskapet. Og at vi starter himmelferden! :)
Warom
19.08.2019 kl 16:58
6675
Det er jo gjerne slik at det som for noen er en "himmelferd" for andre er en "skikkelig nedtur".
Siden jeg har vært med fra starten har jeg jo vært med på begge deler. Jeg mener jo oppriktig at de grepene de har tatt så lang(etter det som har vært en skikkelig nedtur) er mer enn spennende nok for at det kan være "en god grunn" for å begynne å titte på selskapet igjen(da tenker jeg kursmessig herfra). Selskapet i seg selv har jobbet som "business as usual". De har gjort noen valg(som har vært meldt lenge) og jeg tror de valgene er riktige.
Det har nå snart 50% av revenues i regulerte eller nær regulerte markeder.
"44% (45%) of revenues were generated fromregulated and near-regulated markets"
....dette medfører jo gjerne(som vi vet) litt andre betingelser enn man var vant med. Dette er likevel ikke en strategi som er uventet(meldt lenge at det var veien for GIG). Dette gjorde vel også at man mistet en "god bidragsyter" til inntektene, men det var likeså ett valg som nok var både veloverveid og fornuftig sett fremover. Jeg må innrømme at jeg er positiv sett fremover, men samtidig veldig skuffet mtp hva jeg trodde jeg så for halvannet år siden. Dette viste seg å ikke holde stikk(må man kunne si).
Jeg tror som sagt at vi er på rett vei igjen og jeg har også full tillit til at det nye styret(som jeg anser som ett svært kompetent styre) har kontroll på hva selskapet gjør(og hvorfor de gjør hva de gjør). At mange ser ut til å ha mistet tilliten til RR er greit for meg. Jeg er av en annen oppfatning og regner med det er greit for andre :)
Siden jeg har vært med fra starten har jeg jo vært med på begge deler. Jeg mener jo oppriktig at de grepene de har tatt så lang(etter det som har vært en skikkelig nedtur) er mer enn spennende nok for at det kan være "en god grunn" for å begynne å titte på selskapet igjen(da tenker jeg kursmessig herfra). Selskapet i seg selv har jobbet som "business as usual". De har gjort noen valg(som har vært meldt lenge) og jeg tror de valgene er riktige.
Det har nå snart 50% av revenues i regulerte eller nær regulerte markeder.
"44% (45%) of revenues were generated fromregulated and near-regulated markets"
....dette medfører jo gjerne(som vi vet) litt andre betingelser enn man var vant med. Dette er likevel ikke en strategi som er uventet(meldt lenge at det var veien for GIG). Dette gjorde vel også at man mistet en "god bidragsyter" til inntektene, men det var likeså ett valg som nok var både veloverveid og fornuftig sett fremover. Jeg må innrømme at jeg er positiv sett fremover, men samtidig veldig skuffet mtp hva jeg trodde jeg så for halvannet år siden. Dette viste seg å ikke holde stikk(må man kunne si).
Jeg tror som sagt at vi er på rett vei igjen og jeg har også full tillit til at det nye styret(som jeg anser som ett svært kompetent styre) har kontroll på hva selskapet gjør(og hvorfor de gjør hva de gjør). At mange ser ut til å ha mistet tilliten til RR er greit for meg. Jeg er av en annen oppfatning og regner med det er greit for andre :)
Som vi ser, ikke bare GIG som får bøter, selv de største kan gå på en smell 😉
https://mobile.twitter.com/EGRIntel/status/1163375154921115649
https://mobile.twitter.com/EGRIntel/status/1163375154921115649
Redigert 19.08.2019 kl 21:29
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Dealsen
20.08.2019 kl 16:30
6311
Sånn! La oss holde oss over dette runde tallet fremover!
Edit: Stabiliserer vi oss over kr. 10,-, så kan det tyde på at 10-12 kroner er en gunstig inngang. Vi lå i dette området lenge, før den nylige Q-rapporten ble fremlagt.
Edit: Stabiliserer vi oss over kr. 10,-, så kan det tyde på at 10-12 kroner er en gunstig inngang. Vi lå i dette området lenge, før den nylige Q-rapporten ble fremlagt.
Redigert 20.08.2019 kl 16:38
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Tenk hvor vi kunne vært om vi ikke hadde lagt frem Q-rapporter 🤣
Dealsen
21.08.2019 kl 16:45
5864
Hehe, de fleste av oss hadde nok trodd det ble den "gamle" tikroningen. Altså kr. 100,- i dagsns kurs.
Vi får ta en krone av gangen 😀
Burde vel i første omgang kunne oppnå 12 kr innen kort tid, om vi får litt mer volum.
Virker i alle fall som det er liten interesse for salg på dagens nivåer, naturlig nok.
Burde vel i første omgang kunne oppnå 12 kr innen kort tid, om vi får litt mer volum.
Virker i alle fall som det er liten interesse for salg på dagens nivåer, naturlig nok.
GiG maintains global plans despite difficult H1
Wojtek Malinowski 20.08.2019 Business News, News Leave a comment 8 Views
Gaming Innovation Group (GiG) is targeting expansion across regulated and soon to be regulated markets, as Swedish troubles and a customer contract termination impacted H1 revenues.
Publishing its first interim results as a Stockholm-listed enterprise, GiG records H1 2019 group revenues of €63 million, down 14 per cent on corresponding H1 2018’s €74 million.
GiG governance cites Swedish regulated market adjustments and the loss of a B2B contract during Q4 2018 trading as the main contributing factors for the firm’s period revenue declines.
The Swedish adjustments combined with increased betting duties see GiG report a lower period operating margins across its B2C (business-to-consumer) and B2B (business-to-business) assets, as group H1 2019 gross profits decline to €50 million (H1 2018: €61 million).
However, the company states that investments are being made to also pursue expansion in strategic target markets which it believes demonstrate high potential, such as Spain, Latin America, Canada and certain Asian regions, throughout 2019 and 2020.
“Our global expansion will be driving sequential growth in both B2C and B2B in H2 and we will manage that growth with a strong focus on execution as the Company is heavily focused on improving earnings per share,” explained Gaming Innovation Group CEO Robin Reed.
GiG also continues its strategy to focus on its flagship B2C brands. Recently, the company has decided to sell it’s B2C brand Highroller to online gaming operator Ellmount Gaming Ltd. in a €7 million deal paid in monthly instalments over the contract period of 48 months starting seven months after the announcement of the deal.
After this divestment, the gambling group will run four iGaming brands – Rizk, Guts, Kaboo, and Thrills, with Rizk being its best performing one. In the first half of 2019, Rizk represented 71 per cent of GiG’s B2C revenue. The second-largest brand, Guts, is being further developed as sports betting brand
Kilde : https://www.gamblerspost.com/gig-maintains-global-plans-despite-difficult-h1/
Liker spes denne ..... pursue expansion in strategic target markets which it believes demonstrate high potential, such as Spain, Latin America, Canada and certain Asian regions, throughout 2019 and 2020 😀
Exp3rten
22.08.2019 kl 09:08
5636
Kambi får en utvidet avtale med Draftkings om å levere tjenestene sin i ytterligere 8 delstater i USA.
Etter hvert som Hard Rock kommer i gang vil dette forhåpentligvis også være et scenario for GiG.
Etter hvert som Hard Rock kommer i gang vil dette forhåpentligvis også være et scenario for GiG.
anderix
22.08.2019 kl 16:50
5475
God ettermiddag;-) Pussig å se hvordan det pusles med GIG aksjen om dagen, med fraværende omsetning og helt tydelig en som har fått i oppgave å ikke slippe den under 10 i sluttaksjonen. Har vært samme mønster flere dager på rad nå. I dag ble det gjort med hele 50 aksjer i sluttauksjonen😉
Krilan
22.08.2019 kl 16:59
5471
Ja, jeg syntes du klarer deg fint :) Tiden jobber for oss, selv om det går noe tregt.
Jeg kjøpte med snitt 9,85 i dag.
Mange bekler små...
Mange bekler små...
Dr. Goodhead
22.08.2019 kl 19:45
5397
Ser ut som at lanseringen av Rizk i India har resultert i en krafting økning i antall treff. Hvis tallene fra alexa.com stemmer så kommer nå over 80% av trafikken derfra!
https://www.alexa.com/siteinfo/rizk.com
Gjenstår å se i hvilken grad det vil påvirke omsetningen.
https://www.alexa.com/siteinfo/rizk.com
Gjenstår å se i hvilken grad det vil påvirke omsetningen.
Krilan
22.08.2019 kl 20:33
5365
Trenger ikke så stor markedsandel i India, før man ser en betydelig økning på oms.
Litt om markedet i Asia generelt, hva gjelder reguleringer osv:
"Akkurat som i Europa, er landene i Asia individuelle ansvarlig for å gi ut deres egne nett gambling lovgivning. Det er ingen fast fremgangsmåte over kontinentet i det hele tatt og lovene kan være veldig forskjellig fra et land til et annet. Alle typer av land baserte gambling er fullstendig lovlig i noen områder mens de er alle sammen ulovlige i andre. Det er til og med noen land som bare tillater spesifikke typer av land-baserte gambling.
Det er like mye variasjon når det gjelder nett gambling lover også."
Litt om markedet i Asia generelt, hva gjelder reguleringer osv:
"Akkurat som i Europa, er landene i Asia individuelle ansvarlig for å gi ut deres egne nett gambling lovgivning. Det er ingen fast fremgangsmåte over kontinentet i det hele tatt og lovene kan være veldig forskjellig fra et land til et annet. Alle typer av land baserte gambling er fullstendig lovlig i noen områder mens de er alle sammen ulovlige i andre. Det er til og med noen land som bare tillater spesifikke typer av land-baserte gambling.
Det er like mye variasjon når det gjelder nett gambling lover også."
Ikke helt ferskvare, men like fullt interessant vedr Igaming i India :
India - the recipe for igaming success
31 May 2019
India has been a region of great interest to the igaming industry for a number of years, and now more than ever shows significant promise.
We spoke to Susan O’Leary, CEO at Alderney eGambling following her recent appearances delivering the international address at SPICE India and discussing emerging market trends at the International Association of Gaming Advisors Gaming Summit in San Francisco, to understand her perspective on the opportunities there.
O’Leary explains that 50% of India’s 1.3bn population is under the age of 25, and over 65% is under the age of 35: “This growing young population is a major contributing factor to the recent unprecedented growth of the online gaming industry in India.”
Additionally, she says, data is becoming increasingly affordable, smartphones more accessible, and the population is obsessed with its national sports and already has a great propensity to wager
O’Leary says India is “on the cusp of a widespread regulatory overhaul, with steps already taken by some States to address the rapid growth. However there’s still a way to go before the country achieves a harmonised, central regulatory framework.”
A question of skill
While ‘gambling’, the act of betting or wagering for money or money’s worth is currently illegal in India, there are three categories excluded from the prohibition laws - horse racing, lotteries (which are regulated separately) and games of ‘mere skill.’
This idea of ‘mere skill’ generates a high level of uncertainty for the online gaming sector, says O’Leary: “In 2012, the Supreme Court cleared the guidelines for skill based online gaming declaring that playing skill games for stakes does not amount to gambling. So technically, games which satisfy the preponderence test of ‘skill versus chance’ are not regulated under the current legislations.
She continues, explaining that the Supreme Court of India interprets ‘mere skill’ to include games driven by skill, ruling that:
(i) the competitions where success depends on substantial degree of skill will not fall into category of ‘gambling’; and
(ii) despite there being an element of chance, if a game is preponderantly a game of skill,
it would nevertheless be a game of “mere skill”.
“India is a federal system, much like the US and States can adopt their own policies within the overall parameters of the law. Businesses operating games of skill are already thriving in the Indian market. However, many have elected to self-regulate and adopt codes of conduct in line with those recommended by industry federations such as the All Indian Gaming Federation, the Rummy Federation and the Indian Sports Gaming Federation who, addressing the growing need for player protection, recently introduced their own guidelines for members.”
Developing the space
Considering the rapid pace of technological development and the continual development of new game formats, O’Leary says that both operators and players are becoming more and more uncertain about what does and does not constitute as legal in India. She says, “with the line between skill and chance increasingly blurred, all parties are somewhat exposed.”
She continues “Unfortunately, whether a game is skill or chance is a question to be decided based on the facts and circumstances of each case, and what determines a game of skill in India is still largely inconsistent.”
Regulating accordingly
Without this clarity and uniformity, regulations are not only barriers to development, but also harder to enforce. O’Leary also cites a report published in July 2018 by the Law Commission of India, which advised sports betting should be regulated, but there remains ambiguity on whether the State or central government will manage this regulation.
India’s online gaming market, which includes approx. 700m mobile users, is currently estimated to be worth $360m, with forecasts expecting this to rise to $1bn by 2021 - a conservative estimate, says O’Leary. She feels there’s no doubt that the need for proportionate regulation is more important than ever: “Aside from the critical protection and security it would provide to players, the revenues that could be raised by the country’s government would be substantial. The importance of regulation that is pitched appropriately in such a huge market with differing considerations cannot be overlooked, and will be a defining factor in developing India’s own framework.”
“What is enormously encouraging is the desire and enthusiasm of the skill game operators electing to self-regulate and to demonstrate they are adopting global best practice despite the lack of governmental framework.”
O’Leary says that while commentators are certain that widespread regulation is coming, a collaborative approach between regulators, operators and key stakeholders will be critical to its success.
Kilde : https://www.igamingbusiness.com/india-recipe-igaming-success
India - the recipe for igaming success
31 May 2019
India has been a region of great interest to the igaming industry for a number of years, and now more than ever shows significant promise.
We spoke to Susan O’Leary, CEO at Alderney eGambling following her recent appearances delivering the international address at SPICE India and discussing emerging market trends at the International Association of Gaming Advisors Gaming Summit in San Francisco, to understand her perspective on the opportunities there.
O’Leary explains that 50% of India’s 1.3bn population is under the age of 25, and over 65% is under the age of 35: “This growing young population is a major contributing factor to the recent unprecedented growth of the online gaming industry in India.”
Additionally, she says, data is becoming increasingly affordable, smartphones more accessible, and the population is obsessed with its national sports and already has a great propensity to wager
O’Leary says India is “on the cusp of a widespread regulatory overhaul, with steps already taken by some States to address the rapid growth. However there’s still a way to go before the country achieves a harmonised, central regulatory framework.”
A question of skill
While ‘gambling’, the act of betting or wagering for money or money’s worth is currently illegal in India, there are three categories excluded from the prohibition laws - horse racing, lotteries (which are regulated separately) and games of ‘mere skill.’
This idea of ‘mere skill’ generates a high level of uncertainty for the online gaming sector, says O’Leary: “In 2012, the Supreme Court cleared the guidelines for skill based online gaming declaring that playing skill games for stakes does not amount to gambling. So technically, games which satisfy the preponderence test of ‘skill versus chance’ are not regulated under the current legislations.
She continues, explaining that the Supreme Court of India interprets ‘mere skill’ to include games driven by skill, ruling that:
(i) the competitions where success depends on substantial degree of skill will not fall into category of ‘gambling’; and
(ii) despite there being an element of chance, if a game is preponderantly a game of skill,
it would nevertheless be a game of “mere skill”.
“India is a federal system, much like the US and States can adopt their own policies within the overall parameters of the law. Businesses operating games of skill are already thriving in the Indian market. However, many have elected to self-regulate and adopt codes of conduct in line with those recommended by industry federations such as the All Indian Gaming Federation, the Rummy Federation and the Indian Sports Gaming Federation who, addressing the growing need for player protection, recently introduced their own guidelines for members.”
Developing the space
Considering the rapid pace of technological development and the continual development of new game formats, O’Leary says that both operators and players are becoming more and more uncertain about what does and does not constitute as legal in India. She says, “with the line between skill and chance increasingly blurred, all parties are somewhat exposed.”
She continues “Unfortunately, whether a game is skill or chance is a question to be decided based on the facts and circumstances of each case, and what determines a game of skill in India is still largely inconsistent.”
Regulating accordingly
Without this clarity and uniformity, regulations are not only barriers to development, but also harder to enforce. O’Leary also cites a report published in July 2018 by the Law Commission of India, which advised sports betting should be regulated, but there remains ambiguity on whether the State or central government will manage this regulation.
India’s online gaming market, which includes approx. 700m mobile users, is currently estimated to be worth $360m, with forecasts expecting this to rise to $1bn by 2021 - a conservative estimate, says O’Leary. She feels there’s no doubt that the need for proportionate regulation is more important than ever: “Aside from the critical protection and security it would provide to players, the revenues that could be raised by the country’s government would be substantial. The importance of regulation that is pitched appropriately in such a huge market with differing considerations cannot be overlooked, and will be a defining factor in developing India’s own framework.”
“What is enormously encouraging is the desire and enthusiasm of the skill game operators electing to self-regulate and to demonstrate they are adopting global best practice despite the lack of governmental framework.”
O’Leary says that while commentators are certain that widespread regulation is coming, a collaborative approach between regulators, operators and key stakeholders will be critical to its success.
Kilde : https://www.igamingbusiness.com/india-recipe-igaming-success
Dealsen
23.08.2019 kl 09:28
5180
I tillegg til å fatte interesse for Rizk, så må inderne gjerne begyne å kjøpe aksjer i GIG også :)
Redigert 23.08.2019 kl 09:29
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Fredpåjord
26.08.2019 kl 21:36
4624
Så lenge rr er sjef så vil ikke folk være med. Rett ned, hver dag..
barts
26.08.2019 kl 22:16
4602
Nogen handler den jo aktivt ned. De må have et formål med dette... vi får se.