EGBA Urges Finland to Fix its Gambling Policy
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The European Gaming and Betting Association (EGBA) has urged the Finnish government to “fix” its gambling policy by bringing an end to Veikkaus’ monopoly in the country.EGBA pointed out Finland is the only European Union member state that still maintains a gambling monopoly.
“Yet these days you are more likely to hear criticisms of Veikkaus and its prevalence across Finnish society,” Maarten Haijer, secretary-general of EGBA, said.
Haijer said its slot network was so large that for every one ATM in the country, there were ten slot machines, something Veikkaus is looking to address by taking 8000 machines out of service by the end of the year.
However, this is accompanied by public opinion shifting in favour of an end to the monopoly, as evidenced by a widely circulated 2019 survey from affiliate Kasino Curt.
This growing demand for alternative forms of gambling, Haijer explained, was largely down to the fact it is simply impossible to enforce a monopoly system online.
“This means that more choice or alternatives to Veikkaus can easily found on the internet with international betting websites.A recent survey showed that last year 16.4% of Finland’s online gambling revenue, equivalent to €105m in taxable revenue, was spent by Finns on international betting websites which pay their taxes elsewhere,” he said.
These sites, he said, offer better returns, higher winnings and a wider selection of products.
“Replacing the monopoly with an open-licensing system is not about getting more people in Finland to gamble, nor is it about killing off Veikkaus,” he said.“Rather, it is the sensible way to meet the demands of those Finnish gamblers who seek an alternative to the monopoly and currently gamble on international gambling websites – and to regulate and tax this activity.
“Introducing open-licensing for online gambling is not revolutionary, it is evolutionary, and will ensure that most Finns gamble in a regulated and protected environment.But adapted to the realities of our times.
“All other EU countries have already done this, it makes sense, and it’s time for Finland to do the same.”
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Source: Latest News on European Gaming Media Network This is a Syndicated News piece.Photo credits or photo sources can be found on the source article: EGBA Urges Finland to Fix its Gambling Policy Share this: George Miller
George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016.George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017.He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.
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Zitro has announced a significant investment in Zitro Interactive, the business unit in charge of the digital distribution of Zitro games, which is renamed Zitro Digital.
Johnny Ortiz, Founder of Zitro, justifies the bet on Zitro Digital saying that “the Covid-19 pandemic has acted as a catalyst for technological change, accelerating the adoption of e-commerce by consumers of all demographics, and therefore, also of online gaming.On the other hand, many land-based gaming operators around the world have discovered in online gaming not only a source of income, complementary to their activity, but also a means of maintaining relationships with their clients during the long and hard months that they have been closed.At Zitro we couldn’t stop meeting this new demand that comes from both end consumers and our traditional clients, the land-based casino operators, who need to offer online gaming to generate resources as well as to stay close to their customers.”
Zitro Digital is going to offer online gaming operators not only the reputed video bingo games that have historically made Zitro great, but it is also going to make Link King, Link Me, 88Link and many more video slot games which are extremely popular and recognized in many casinos, available to them.The favorite games of the customers of the land-based casinos will not only be in the physical casino, but will also be available to the players at any time, accessible through their mobile, tablet or computer.
Sebastián Salat, CEO of Zitro, says that “it has taken us a while to deploy our games, such as Link King, Link Me, or 88 Link at the casinos of the world, but today our games are brands of recognized prestige, true stars, celebrities, in casinos of any geography, with enormous power to drive demand.
Starting in January 2021 we will be able to make our famous progressive games, which are synonymous to success, at the disposal of online casino operators who wish to offer their customers the best”.
But Zitro Digital is also going to expand its offer in the social gaming segment, in which, to date, the company had been operating two applications: World of Bingo, exclusively dedicated to video bingo games, and Let’s Win Up, which offers video bingo games and video slots.
Enric Pedró, Director of Social Gaming at Zitro Digital, affirms that “the unstoppable success of Zitro’s progressive games in the world required an exclusive application in which all of them could meet, surrounded by multiple functionalities that would provide fun content and the emotional, not financial, gratification of winning.All the games in the Link King, Link Me, 88 Link, Bashiba range will be gradually added to this new application that will contain the essence of the games that have triumphed in so many casinos on all continents, but presented in a fun and entertaining environment.At Zitro Digital we are tremendously excited about the launch of this new application, which we plan to make during January”.
Source: Latest News on European Gaming Media Network This is a Syndicated News piece.Photo credits or photo sources can be found on the source article: ZITRO DIGITAL IS BORN Share this: 500.com Limited Announces Private Placement and Appointment of New Officers
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500.com Limited, an online sports lottery service provider in China , today announced that it has entered into a definitive share subscription agreement (the “Agreement”) with Good Luck Information Technology Co., Limited (“Good Luck Information”), a company incorporated in Hong Kong , for the issuance and sale of newly issued Class A ordinary shares of the Company (“Class A Shares”).
Pursuant to the Agreement, Good Luck Information will purchase 85,572,963 newly issued Class A Shares for a total purchase price of approximately US$23 million , to be settled in U.S.dollars or in crypto-currencies, including Bitcoin (BHC), to be determined chosen by the Company within one month of the date of the Agreement.Good Luck Information shall make full payment of the purchase price in currencies determined by the Company within one month of the Company’s determination.The per share purchase price of US$0.269 is the closing trading price of the Company’s ADSs on December 18, 2020, the last trading day immediately preceding the date of the purchase agreement.
as adjusted by a 1-to-10 ADS to ordinary shares ratio.
Good Luck Information has agreed to subject all the shares it or its affiliate will acquire in the transaction to a contractual lock-up restriction for 180 days after the closing.The closing is expected to take place on or before February 20, 2021 , upon satisfaction of customary closing conditions.
Good luck Information is controlled by Mr.Man San Vincent Law , a founder of the Company, who currently holds less than 5% of the Company’s outstanding share capital.
Upon closing, Good Luck Information will hold 16.6% of the Company’s issued and outstanding ordinary shares.
Appointment of New Officers
The Company’s Board of Directors (the “Board”) has proposed the Company to explore business opportunities in the blockchain and cryptocurrency industries based on some success experience of its associate, Loto Interactive Limited.The Board has appointed Mr.Xianfeng Yang as the Chief Executive Officer of the Company, and Mr.Bo Yu as the Chief Operating Officer of the Company, both effective Decembers 21, 2020.
Mr.
Yang has extensive experience in the cryptographic digital virtual currency industry.He has been in charge of the construction and operation of the big data center of Loto Interactive Limited.Mr.Yang also serves as the Chairman of Changhe Hydropower Absorption Blockchain Big Data Industrial Park in Sichuan .
Mr.Yang served as the Company’s senior Vice President from 2018 to 2020.Mr.Yang received a bachelor’s degree in Architecture from Huazhong University of Science and Technology.
Mr.
Yu has served as the Company’s Director since 2017, and served as General Counsel since 2014.Mr.Yu received a master’s degree in law from the University of Iowa , and a master’s degree in law and a bachelor’s degree in science from the Wuhan University.Mr.
Yu has been admitted to the Bar of the State of Michigan .
Source: Latest News on European Gaming Media Network This is a Syndicated News piece.Photo credits or photo sources can be found on the source article: 500.com Limited Announces Private Placement and Appointment of New Officers Share this: Top 5 Online Gaming Apps to look for in 2021
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