Let’s look at what is happening in the iGaming industry globally. The sector has been growing rapidly for the last couple of years, so let’s catch up together. Are you operating in Europe, America, or Asia? Changes are happening everywhere. Check if your businesses are ready for them and if you will be the first to harness the potential they bring .
Below you can find the most important news and changes happening across the globe.
Europe – Slovenia: Changes in iGaming
The Financial Administration of the Republic of Slovenia (FURS) has warned that there are more breaches of online gambling regulations in the country than previously thought. FURS reported 115 violations by unlicensed online operators in 2023 and acted against 34 operators who failed to respond to warnings. Despite receiving cease and desist orders, 28 operators continued to offer gambling illegally. Slovenia’s Gambling Act restricts online gambling licenses to locally domiciled businesses with licenses for land-based gambling. FURS stated that those without a valid local license may face fines, but its ability to act is restricted by individual court orders to implement website blockings. The Slovenian Ministry of Finance has announced plans to review gambling legislation to make systemic changes, including evaluating responsible gambling requirements and the granting of concessions. The ministry intends to hire an independent consultant to analyze the sector and develop proposals, considering the regulatory approaches of other EU states and EU Court of Justice case law.
LATAM – Mexico: Gaming reform
Mexico’s gaming industry is experiencing major changes due to President Andrés Manuel López Obrador’s regulatory reform. The reform restricts land-based casinos while providing a positive outlook for online gaming, with a projected 70% growth in the coming years. These changes may lead players to shift to the virtual world, contributing to the online gaming industry’s expected revenue of around $4,063 million, surpassing initial projections. Online casinos are also favored by factors like accessibility, game variety, and post-pandemic trends. The reform’s reduction in permit terms and fiscal contributions is expected to lead to gaming hall closures. Nonetheless, online casinos are expected to thrive, with revenue growth of up to 70% anticipated over the next three years.
USA – Florida: Seminole Tribe agreement
Florida is set to gain $4.4 billion over the next six years from its gambling agreement with the Seminole Tribe, provided ongoing legal support for the Seminole Gaming Compact continues. The Seminole Tribe has already begun paying revenue related to the compact, totaling $120 million so far this year. State economists estimate that Florida will receive approximately $344 million from the tribe by the end of the fiscal year on June 30, with the amount increasing to $889.6 million by the 2028-29 year. However, the reliability of this revenue stream is uncertain due to legal challenges alleging violations of state and federal law within the compact. In the meantime, lawmakers are proposing legislation to allocate a significant portion of the compact revenues towards environmental initiatives, including wildlife preservation, state parks, and water quality enhancement. The plan includes the establishment of a fund to protect against climate change and sea-level rise. While the legal challenges remain unresolved, economists consider the funds to be non-recurring in the state budget. Governor Ron DeSantis negotiated the compact with the tribe, allowing them to offer online sports betting statewide and introduce craps and roulette at tribal casinos in exchange for a share of revenues.
Asia – Indonesia: Removes gambling Ads from X
The Indonesian government has urged the social media platform X, formerly known as Twitter, to remove gambling advertisements from its platform. Representatives from X were summoned by the Indonesian Ministry of Communication and Information Technology to address the issue of illegal gambling advertisements. The government aims to streamline the process of identifying and removing gambling content and has requested that X develop an automated system for dealing with such tasks. Concerns were raised by Indonesian internet users about the prevalence of online gambling advertisements and the involvement of public figures. A recent survey conducted by Populix found that 82% of Indonesian internet users have been exposed to online gambling content, with 63% encountering online ads regularly.
As iGaming Agency we track all changes in the industry and follow with all latest news and trends. If you are looking for any services related to iGaming industry please feel free to contact us.
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