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“He steps into the interim role supported by an experienced finance organisation and I am confident that our reporting, controls and capital markets work will continue without disruption.”
Bally’s shares plunged 26% on 17 August despite a solid Q2 in which group revenue rose by 20% year-on-year to €792.2 million.
The share price came under pressure following debt disclosures in Bally’s Q2 10-Q filing, which was submitted to the Securities and Exchange Commission on 14 August.
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It has addressed ongoing questions faced by operators regarding when it is reasonable to close accounts, withhold or return player balances, cancel bets, or redistribute tournament prizes deemed fraudulently obtained.
Notably, it has also provided insight into the evidentiary standards French courts expect operators to meet before taking corrective actions that could be subject to legal challenge.
The regulator identified six key categories of fraud frequently encountered in online gambling. These included identity fraud, payment fraud and abusive chargebacks. It also covered in-game cheating, money-dumping and sporting event manipulation
About 20 Power Hot
Nikos Konstakis (pictured above), president of OpenBet, described the acquisition as “a natural extension” of the company’s ongoing strategy to serve operators in the most regulated and demanding markets.
He emphasised lotteries were a pivotal focus area for future growth, saying they “remain the core focus of our growth strategy, and OmniLogic has built a strong reputation in this sector through long‑standing customer partnerships and a deep understanding of their requirements”.
Founded by Vicente Torrejón and Dávid Márk Gábor, OmniLogic has developed a reputation over more than a decade by delivering sportsbook technology to regulated lottery operators and members of the World Lottery Association (WLA).
