May 15, 2024
Renzo Escalante on iGaming's Growth and Educational Initiatives in Latam
Interviews
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November 17, 2023
November 17, 2023
Welcome to this week's edition of WA.Technology's iGaming Newsletter, where we delve into the vibrant world of online gaming and its latest advancements. Stay tuned for a captivating journey tailored for enthusiasts and professionals alike.
This week, SiGMA Europe 2023, held in the picturesque Malta Mediterranean Maritime Hub, marked a landmark gathering for the iGaming industry. The event showcased an unprecedented scale and enthusiasm, with over 800 sponsors and exhibitors, including a significant presence from WA.Technology at booth 4028. The expanded venue accommodated a whopping 25,000 delegates and over 250 speakers, underlining the event's status as a must-attend event.
The three-day extravaganza was about more than just business. The event offered a diverse week of activities, from sports side events and cultural tours to exclusive networking dinners and parties. The highlight was the transformation of ten mega yachts into lavish exhibition spaces, a testament to the event's unique flair. The experience provided an exceptional opportunity for learning, networking, and celebrating the industry's achievements. The team at WA.Technology is already looking forward to the next SiGMA event, fueled by the energy and inspiration from this incredible experience.
In a landmark move last week, Brazil's Senate Sports Committee, CEsp, approved PL 3626/23, a bill reshaping the iGaming landscape. Championed by Senator Romário, the legislation extends the licensing period for betting operators to five years with a R$ 30 million fee, allowing up to three commercial brands per operator.
Senator Angelo Coronel's pivotal change centres on the taxation framework. The revised approach focuses solely on taxing bettors' profits, not the total amount wagered, significantly reducing the tax rate from 30% to 15%. This strategy bolsters legal gambling, drawing players to government-endorsed sites and increasing official revenue. The bill maintains the allocation of proceeds: 2% to social security, with additional distributions to sports, tourism, health, and civil society support. This regulatory overhaul promises to align government, operators, and players' interests, potentially elevating Brazil's iGaming domain to unprecedented heights. Source: iGB
It’s all change in Curaçao. The nation has accepted registrations for new gaming operators, heralding a new era in gambling regulation. This move, initiated by the Curaçao Gaming Control Board (GCB), emphasises stringent anti-money laundering measures and responsible gaming practices. Starting November 15, 2023, operators can apply for a new license directly with the GCB under the current law. This pivotal change is part of Curaçao's commitment to elevating its gaming sector's standards.
Interviewed in SiGMA Issue 25, Curaçao's Minister of Finance, the Hon. Dr Javier Silvania, said, “The key driver of any gambling regulation is the gaming operations themselves; however, the generation of economy in the sub-sectors can change not just the revenue to the gaming authority but indeed the overall economy on the island.”
Sticking with news from Curaçao, the iGaming Academy – an award-winning online and land-based gambling training provider – has partnered with a local training institute to establish a specialised academy in Curaçao. This initiative brings added growth to the country and launched alongside the first SiGMA Americas Curaçao event. Here, the focus was on enhancing employment and educational opportunities within the community.
A well-attended masterclass at SiGMA, led by Yuliya Khrenova, marked the academy's launch. The event drew an enthusiastic crowd, predominantly from Curaçao. This response underscores a growing local interest in the iGaming sector. Responding to this enthusiasm, the iGaming Academy is developing Curaçao-focused courses. These offerings equip industry professionals and aspiring newcomers with the skills needed for a thriving career in this dynamic and evolving industry. Source: iGB
October 2023 marked a milestone for Macau's casinos, with gross revenues soaring to US$2.42 billion (R$11.8 billion), a significant recovery to over 73% of pre-pandemic levels in 2019. This surge is a pivotal boost to the year's total revenues, now at approximately US$18.43 billion (R$89.8 billion), signalling a robust 60% of 2019's figures. The upward trend aligns with the ambitious year-end goal of US$21-22.35 billion (R$102-108 billion) set by the Chief Executive of the Macau Special Administrative Region, Ho Iat Seng.
The record-breaking October, surpassing August's US$2.1 billion (R$10.4 billion), owes much to the extended Chinese Golden Week holiday. The period saw a notable increase in tourism, with nearly a million visitors during the first week of October alone. Despite a temporary setback in September due to Super Typhoon Saola, October's performance heralds a resilient comeback for Macau's gaming industry, indicating a strong and promising recovery in the post-pandemic era. Source: Yogonet
Join us again next week for more iGaming info from WA.Technology. If you want to know more about getting your own iGaming business off the ground or expanding your current brand, contact us at [email protected]
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