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AC Milan and TG.Casino have joined forces in a new partnership, solidifying the online casino platform as the Official Regional iGaming Partner of the Rossoneri across Europe. The collaboration aims to revolutionize the iGaming industry landscape and enhance fan engagement for football enthusiasts.
By aligning with TG.Casino, a pioneering Telegram-based crypto casino, AC Milan opens up a realm of exclusive opportunities for fans and $TGC token holders. From visits to the Milanello training centre to winning official AC Milan jerseys and enjoying VIP access at the iconic San Siro stadium, supporters can look forward to immersive experiences like never before.
Dean Akinjobi, CEO of Football Media, lauded the partnership as a crucial move for TG.Casino’s growth trajectory. Through innovative activation strategies, the alliance seeks to bridge the worlds of Web 3.0, igaming, and tokenisation, offering a unique convergence of technology and sports entertainment.
This collaboration underscores the rising trend of crypto and football partnerships, with AC Milan and TG.Casino setting a new standard in engaging diverse audiences. Capitalising on Telegram’s expansive reach and tailored marketing endeavours, the duo aims to drive the igaming sector to unprecedented heights while enriching the fan experience. The fusion of crypto and football has grown steadily in recent years, with clubs like Manchester City and Borussia Dortmund leading the way with partnerships in the field of cryptocurrency.
In other recent news, AC Milan midfielder Sandro Tonali, currently on loan to Newcastle United, received a suspended two-month ban and a £20,000 fine from the English Football Association for breaching betting regulations. This penalty comes in addition to a 10-month suspension imposed by the Italian Football Federation for similar offenses. Tonali, known for his talent and troubled by a gambling addiction, bet on multiple football matches, including games involving his own team. Despite facing setbacks, he has actively sought help for his addiction.
The Swedish government has recently proposed to discontinue the Casino Cosmopol land-based casino business of state-owned operator Svenska Spel. In a memorandum filed on 7th May 2024, the government stated that Casino Cosmopol “no longer fulfils its purpose” and highlighted the ongoing challenges for the business to reach profitability.
The government does not anticipate the proposed closure to have any “major impact” on illegal gambling in Sweden. If the measure passes, a condition in Svenska Spel’s licence for the right to operate land-based casinos would be removed. Consequently, Svenska Spel would need to shut down its only remaining casino venue, located in Stockholm. The closure, expected to occur on or before 1 January 2026, would impact approximately 200 jobs.
Svenska Spel has acknowledged the struggles of Casino Cosmopol. The company shares the government’s assessment of reasons for closure, noting the lack of opportunity to reach profitability as visitor numbers fall with more people opting to gamble online.
Svenska Spel once operated four casino locations in Sweden. The first to close was the casino in Sundsvall in 2020. More recently, the company announced the permanent closure of its casinos in Gothenburg and Malmö due to limited profitability. The decision was announced in January of this year.
Svenska Spel CEO Erik Strand stated, “The movement from gambling in land-based casinos to gambling online accelerated after the reregulation of the gambling market in 2019 and the subsequent pandemic, when Casino Cosmopol remained closed.” He added, “We share the assessment that it is no longer possible to run Casino Cosmopol profitably.”
CEO Ola Enquist also accepted the news but described the move as an “end of an era”. He said, “Although we share the government’s assessment, it is emotional to take part in the bill. If it is adopted, it means that our last casino is closing and that an era is over.”
Recent financial results published by Svenska Spel show where Casino Cosmopol sits compared to its other businesses. In 2023, the Casino Cosmopol and Vegas arm posted a 12.0 percent drop in revenue to SEK942m (£69.3m/€80.7 million/$86.9 million). This decline was attributed to a decrease in casino visitors in response to the rising popularity of online casino gaming.
Regulatory challengesIn contrast, Svenska Spel reported growth elsewhere. Revenue from the Tur lottery division climbed 0.6% higher at SEK4.92bn, while revenue from Sport & Casino was up 4.6 percent to SEK2.17 billion. Looking at net gaming revenue per sales channel, casino revenue fell 11.4 percent to SEK473million, while the online sector saw revenue grow 7.2 percent to SEK4.20 billion.
As for the most recent quarter, the closure of the two casino sites hit the Casino Cosmopol & Vegas segment, with revenue down 31.6 percent to SEK169 million. In addition to the closures, the group also reduced the operating hours of its remaining Stockholm venue.
In addition to these challenges, Casino Cosmopol has faced regulatory issues in recent months. In December, the casino was fined SEK2m for anti-money laundering failings after a probe by Swedish regulator Spelinspektionen. Svenska Spel was also warned over the matter.
The World Series of Poker (WSOP), a prestigious event that has been the pinnacle of the poker world for decades, is set to make a grand return to Northern Europe. This July, the Estonian capital, Tallinn, will play host to this much-anticipated event.
The WSOP event, scheduled to take place from 19 to 28 July, is a collaboration between the OlyBet Group and GGPoker. The venue for this grand event is the Olympic Park Casino and Hilton Hotel, a location that promises to offer an unforgettable experience to all attendees.
The event is expected to draw thousands of poker enthusiasts from across the globe, all vying for the coveted WSOP gold ring. The main event tournament boasts a guaranteed prize pool of €1m ($1.07m), making it one of the most lucrative poker tournaments in the world.
In addition to the main event, the WSOP festival will feature 12 ‘ring events.’ Winners of these ring events will not only receive a cash prize but also a guaranteed entry to next year’s tournament and a World Series of Poker gold ring. The festival will also host over 40 side events and round-the-clock Cash Games, ensuring non-stop action for the entire duration of the event.
Return to Northern EuropeOlyBet, part of the Olympic Entertainment Group, is a renowned sports and gaming entertainment brand with partners across Europe. It is also a member of the International Betting Integrity Association (IBIA) and an official sponsor of Spain’s top football league, LaLiga. OlyBet’s commitment to integrity and fair play makes it an ideal host for the WSOP event.
The city of Tallinn is no stranger to hosting major poker events. Earlier this year, it hosted the 10th edition of the Kings of Tallinn poker festival, which featured over 50 tournaments, including the main event. The success of this event has undoubtedly set the stage for the upcoming WSOP event. The upcoming WSOP event in Tallinn promises to be a thrilling experience for poker enthusiasts worldwide. With its rich history, beautiful architecture, and vibrant nightlife, Tallinn is all set to become the new poker capital of Northern Europe. So, mark your calendars and get ready for an unforgettable poker experience this July!
In South Korea a stern battle is being waged against the rising tide of gambling. The country’s strict regulations cast a wide net, capturing all forms of gambling activities within their grasp.
Imagine a lone casino, Kangwon Land Casino, nestled on the outskirts of Seoul. This is the only place where South Koreans can legally gamble, a privilege protected under the Special Act on the Assistance to Development of Abandoned Mines.
Yet, the allure of online gambling beckons, with overseas sportsbooks offering a forbidden fruit. But the authorities are vigilant, their watchful eyes ever on the lookout for violations. Recent cases involving online sports gambling rings have led to arrests, a stark reminder of the consequences.
The reach of Korean law is extensive, covering all forms of gambling by South Koreans, both domestically and overseas. However, there’s a twist. Tourists and expats can legally gamble at all casinos in the country, and Korean Law does not apply to non-Koreans while they are abroad, except in the most exceptional of crimes.
The definition of “gambling” might seem elusive, but the Korean Supreme Court has provided clarity. It defines “gambling” as an act of achieving monetary gain or loss through the wager of property on a game or activity based on chance.
At the helm of this regulatory landscape is the National Gambling Control Commission (NGCC), the watchdog that oversees the gambling industry in South Korea.
Despite these stringent measures aimed at controlling the prevalence of gambling and mitigating its potential negative impacts such as addiction and associated crimes, a concern lingers. Illegal gambling activities, particularly among the youth, persist, casting a shadow over these efforts.
Increase in underage gamblersAs reported by SiGMA News recently, South Korea is witnessing a concerning pattern as the age of underage gamblers is decreasing, while their numbers are on the rise. The South Korea National Police Agency (KNPA) has recently reported a significant increase in the number of Korean juveniles involved in illicit gambling activities. This alarming trend has prompted law enforcement to devise comprehensive preventive measures.
In the past five years, the average age of teenagers caught gambling has consistently decreased, reaching a low of 16.1 years old in 2023. In the same year, a total of 171 teenagers, aged between 14 and 19, were apprehended under suspicion of participating in illegal gambling. This marked a 2.3-fold increase from the previous year’s figure of 74. Boys constituted a staggering 92.4 percent of these individuals.
The KNPA also revealed that a significant 84.8 percent of the suspects were engaged in online gambling activities, such as baccarat and sports betting. Each game typically lasted only about 10 seconds. Furthermore, 56.7 percent of these individuals accessed gambling platforms at internet cafes, predominantly utilizing computers and smartphones.
Law enforcement authorities anticipate a continued rise in juvenile gambling through smartphones, owing to their easy accessibility and the perception among youth that mobile gambling is merely a casual pastime. However, the police have cautioned that underage participation in illegal gambling could lead to various associated crimes, including instances of school violence and fraudulent activities aimed at securing funds for gambling purposes.
National Police Agency Commissioner Yoon Hee-keun has emphasized the serious threat posed by illegal smartphone gambling to the youth. He pledged to combat youth gambling addiction through intensified guidance and efforts to prevent relapses.
In response to this trend, law enforcement agencies plan to launch awareness programs targeting middle and high school students and their parents. These programs aim to educate them about the hazards of gambling. Additionally, collaborative rehabilitation programs with local counselling centres for teenagers will be established. These programs will provide counselling, medical assistance, and legal support to offenders, offering a holistic approach to tackling this growing issue.