The commission which is meant to keep investors safe while maintaining fairness, order, and efficiency in all markets has received the news of the cybernetic attack on Codere Online along with the reasons that lead to it. 

Hackers Pretended to be Codere Online Agents 

According to the report received by the SEC, a number of internal control weaknesses allowed hackers to access the email systems belonging to the company that offers casino games and sports betting options online and via mobile apps.

Hackers introduced themselves as Codere Online’s agents. They sent invoices that they manipulated beforehand to different suppliers that the company had been working with, demanding the company to immediately send the requested payment.

Codere called the cyberattack an “isolated event” that did not jeopardize the security and integrity of their users’ deposits, passwords, and the rest of their confidential data. 

Additionally, all the banking institutions that processed the respective transactions were informed about the cyberattack. Codere is currently in the process of retrieving its losses evaluated at €744,000 ($805,000).

Ineffective Design and Vulnerabilities of the Payment System Led to the Attack 

The same SEC filing showed Codere admitted to failing to use the proper internal controls in regard to the way its financial information data should have been handled. Among the culprits, the company mentioned the “ineffective design and weaknesses of its payment system”. 

Another element that was mentioned by Codere as a determining element that made them vulnerable in front of the hackers was their cybersecurity systems’ inability to stop the attack.

The detailed assessment of the internal controls helped Codere conclude that there was no evidence that could indicate a company employee had facilitated the cyberattack that was labeled as “technologically sophisticated”.

Codere Has Started to Beef Up Its Internal System Controls and IT Security 

SEC has already been informed that Codere has initiated its procedures to improve its internal system controls and Information Technology security. The measure was deemed necessary in the context of this being the second cyberattack that the company has been subject to as a result of a security breach. 

The first occurrence was recorded in 2020 when the Data Information Agency in Spain received a similar filing regarding a server hacking attack at Codere. 

The respective attack leaked sensitive data belonging to Codere’s customers, including encrypted passwords, residences, IP locations, contact information, and national IDs. 

At that time, the company informed 500,000 of its customers about the potential data breaches tied to their information. At the end of an audit completed with the help of the Data Information Agency, it was shown that the server attack had impacted 64,000 of Codere’s online customers.  
Last December, Codere Online announced it inked a partnership deal with Evolution Group, helping the latter enter Panama’s regulated gambling market. A month before that, Zitro Digital, Zitro’s sealed a similar agreement for Spain with the popular iGaming operator.

The prestigious event was attended by government representatives, charities, regulators and other stakeholders within the industry. Overall, the event attracted approximately 90 guests including members of local authorities and trade associations. Damian Collins MP, the minister responsible for gambling, as well as chair of the DCMS select committee between 2016 and 2019, hosted the reception.

Ygam Outlines New Strategy, Plans Frequent Updates

Ygam’s new strategy ultimately seeks to protect children and young people from gambling and gambling harm via education. The charity will continue its work with age groups between 7 and 25 and provide invaluable education lessons. The new strategy, labeled “Safeguarding Our Digital Generation,” is expected to be executed in the next three years.

Still, it is important to mention that the process isn’t final and Ygam confirmed that on an annual basis, it will review its strategic goals and if necessary, update them. This strategic development plan seeks to help Ygam take its operations to a new level and match the continuously changing market.

Not unexpectedly, the charity said it plans to report regularly its progress and publish an annual report as well. Within its annual report, Ygam will be able to outline changes to its strategic plan.

“The new strategy reiterates Ygam’s focus on educating children and young people aged between 7 and 25.  After appointing an independent facilitator to lead the strategic development process, Ygam has engaged with a diverse range of stakeholders and staff to develop a strategy which brings clarity and purpose to the future direction of the organization,“

explains a statement released by Ygam

The Charity’s Work Seeks to Protect Young Adults

Dr Jane Rigbye, Ygam’s chief executive, said during the reception that it reveals the charity’s ambition and mission for the future. She explained that the exciting opportunities offered by the digital world hide risks, especially for young people. Dr Rigbye added: “We have a clear purpose, we deliver evidence-based programs, and we are focused on understanding and continuously improving our impact.”

“We want to ensure that universal education and prevention is seen as an essential part of the public health response to gambling and gaming, and that it is adequately funded over the long term.“

Dr Jane Rigbye, chief executive at Ygam

Ygam’s chief executive pointed out that it is incredibly important for the public health sector to offer education on gambling harm and help with prevention. Finally, Dr Rigbye said that the charity believes in delivering education for young adults which in turn, saves lives and has a long-term positive impact.

Provider of customer relationship management (CRM) solutions to the online gaming industry Fast Track announced its platform has been integrated with Greco’s player risk management engine to improve operational marketing efficiencies for its clients.

Providing Clients with New Capabilities

The integration of Fast Track with the gameplay risk management platform provides partners of the CRM services provider with additional capabilities for segmentation based on behavioral risk and automation for player communications so that players do not deter at the first sign of dubious behavior.

Commenting on the announcement, Greco co-founder and chief executive officer, Ozric Vondervelden, hailed the integration as “an important milestone” of Greco’s “long-term strategic partnership with Fast Track” as the integration would address an issue where “operators make suboptimal decisions all the time … due to poor financial and behavioral analytics.”

“Greco’s goal is to determine the behavioral risk and theoretical value of every player, under every circumstance,” Vondervelden continued, outlining that the metrics used by the gameplay risk management platform “have the power to reshape everything: player segmentation, bonus abuse management, player rewards, affiliate payout calculations, and player lifetime modeling.”

“This integration provides our joint partners with a seamless process for acting on our insights,” he concluded.

Simon Lidzén, chief executive officer and co-founder of Fast Track, outlined that the company has been following the developments around Greco’s gameplay risk management platform before finally deciding to integrate Greco’s Gameplay Risk Engine with its platforms and offer the engine’s functionalities to its clients and allow them to “put gameplay analysis and player risk management on autopilot.”

Deep Insights into Player Behavior

The integration of Greco’s gameplay risk management platform with Fast Track’s platform will allow Fast Track operator clients to benefit from the solution without the need to divert resources for development or further integration as Greco’s Gameplay risk engine powers them with deep insights into player-associated risk and value and enables them to make more informed decisions about their bonus offerings.

Fast Track’s real-time data platform offers business users a comprehensive suite of tools to help them grow their businesses by creating automated one-on-one experiences at scale. Last year, the CRM services provider received Great Place to Work for 2022/23 certification as the company’s employees ranked it as a world-class place to work with an astonishing 93% score on the Trust Index.

Around the same time, London-based Greco registered as a vendor in New Jersey in partnership with Resorts Digital Gaming, the digital gaming arm of Resorts Casino & Hotel, to offer its Gameplay Risk Engine to licensed online operators in the Garden State.

US sports merchandise and commerce brand, Fanatics, is reportedly in discussions to acquire BetParx as it is seeking ways to establish a presence in sports betting.

Discussions Ongoing

According to the information provided by unnamed sources, Fanatics signed a letter of intent to buy the BetParx sportsbook but a price is yet to be determined and discussions may not result in an agreement, reported CNBC. People providing the information have no authorization to speak publicly on the matter and wished to remain anonymous, the reporting media outlined.

A wholly owned subsidiary of Greenwood Gaming & Entertainment, BetParx is live in Maryland, Michigan, New Jersey, Ohio, and Pennsylvania. It is not clear whether the discussions for the acquisition include BetParx online casino.

Establishing a presence in the sports vertical was one of the major goals for Fanatics and the e-commerce giant has been trying to acquire a sportsbook brand in the past 12 months, exploring acquisitions with both US-based and several international brands among which Tipico.

Fanatics’ chief executive officer Michael Rubin made a bold statement during the CAA World Congress of Sports in October last year, saying that by the next NFL season, he hopes to see the company live with sports wagering in at least 15 states.

During a meeting of the Massachusetts Gaming Commission (MGC) earlier this month, Fanatics Holdings, the parent behind Fanatics Betting and Gaming (FBG), re-affirmed plans for its betting business to become operational in multiple states in the first business quarter of the year, outlining Ohio and Maryland as the other states to launch first, besides Massachusetts.

First Retail Sportsbook

And while plans for the company’s mobile sportsbook are still unclear, Fanatics opened its first retail sportsbook inside the stadium of the Washington Commanders, making it the first sportsbook inside an NFL stadium.

Last week, the MGC voted unanimously to grant Fanatics preliminary suitability for a Category 3 license in a state where Fanatics has market access via Penn National’s Plainridge Park Casino.

Fanatics also made some additions to its betting division led by former FanDuel CEO Matt King as part of its preparations to enter the sports betting space such as the appointment of Andrea Ellis as its chief financial officer to bring on board her expertise in technology, products and operations, and former FanDuel senior director Andrew Kleiman as vice president of Retail Operations. Expanding through acquisitions is Fanatics’ signature for growth as in 2021 alone the company acquired Topps to expand in the collectibles business and clothing brand Mitchell & Ness.

Betsson, an international iGaming and online sports betting operator, has formed a strategic partnership with the National Association of Professional Football (ANFP) in Chile. As per the agreement, the operator will become the official naming sponsor of Chile’s top soccer division.

Betsson Continues to Support Soccer in Chile

The deal will see the Chilean First Division soccer league renamed Campeonato Betsson. This notable deal attests to the seasoned operator’s commitment to supporting professional sports in the LATAM region and beyond.

The agreement comes just ahead of the Campeonato Nacional and will see Betsson work to nurture Chilean pro soccer. As an experienced sports betting company, Betsson recognizes the importance of supporting the development of elite sports.

This isn’t the first time the operator has worked together with the ANFP. An earlier agreement between the two parties saw Betsson sponsor the Ascenso Betsson tournament in 2022. Prior to that, the gambling company also supported events such as the women’s championship in 2022 and the men’s Copa America in 2021.

The ANFP Welcomed Betsson

Pablo Milad, the president of the ANFP, said that his team is glad to have Betsson’s support and is sure that the agreement will help the development of the first soccer division and Chilean soccer as a whole. Milad revealed that he cannot wait for the beginning of the championship.

We look forward to the 2023 competition, set to commence this Friday, which we are sure will be a highly engaging and captivating experience for the fans, as a result of the high stakes and the clubs’ efforts to be the leading contenders.

Pablo Milad, president, ANFP

Meanwhile, Ronni Hartvig, Betsson Group’s chief commercial officer, said that this agreement will provide notable advantages to all involved parties. Hartvig pointed out that such agreements allow sporting events to flourish while strengthening Betsson’s brand locally.

Hartvig also teased that the partnership with the ANFP will see the two parties work on various integrity-oriented initiatives, promoting safer gambling and discouraging match-fixing and fraud. The goal of these activities will be to teach people that online sports betting is a form of entertainment to be enjoyed responsibly and safely.

Betsson has long had a presence in Chile. The operator sponsored the Colo-Colo during the entire 2022 season and served as the official betting partner of the Chilean National Team during the FIFA World Cup 2022 qualifiers. The operator also used to sponsor the Campeonato Ascenso.

Latin America remains a core market for the betting operator. A few days ago, the company minted a similar agreement in Peru, securing naming rights for the Peruvian Liga 1.

Internet Vikings, a global iGaming hosting provider, has inked a Pennsylvania-facing agreement with the US-based games provider ODDSworks. As announced on LinkedIn, Internet Vikings is ready to support any company seeking to capitalize on the opportunities in the iGaming and sports betting markets.

Internet Vikings and ODDSworks Ink a New Agreement

The current agreement expands Internet Vikings’ presence in Pennsylvania, providing the company with yet another client in the state. ODDSworks is a fairly young iGaming provider, having been founded in 2020, but is also a company that fields an experienced and knowledgeable team.

Collectively, ODDSworks’ members have more than 100 years of experience in retail and online gambling, helping the company roll out content of superior quality. The company also boasts a robust Remote Gaming Server, which helps it provide games to many regulated gambling jurisdictions.

In just two years since its creation, ODDSworks has expanded its presence drastically. The current agreement will allow the company to further expand its footprint in the country thanks to Internet Vikings’ reliable turnkey solutions.

Under the deal, Internet Vikings will provide ODDSworks with its specialized cloud hosting services.

Internet Vikings Is Happy to Support ODDSworks’ Growth Journey

Spokespeople from the two companies addressed the new partnerships, sharing more about their delight to be working with one another. Rickard Vikström, Internet Vikings’ founder and chief executive officer, said that he is happy that ODDSworks continues to trust his company. He noted that it is “extremely rewarding” to be able to be a part of the provider’s growth story.

Kristoffer Ottosson, the company’s chief operating officer added that Pennsylvania is a very special state when it comes to online gambling and sports betting. Furthermore, Internet Vikings already has agreements with many companies in the Keystone State and has the expertise needed to help ODDSworks grow.

Lastly, Steven DeMar, ODDSworks’ executive vice president, voiced his thoughts. DeMar emphasized his delight in the opportunity to work with Internet Vikings and hopes to mint agreements with the hosting provider in other states as well.

It is of great value to us that Internet Vikings offers a reliable total turnkey solution for each new market we enter.

Steven DeMar, EVP, ODDSworks

Internet Vikings is one of the most distinguished companies when it comes to iGaming hosting. The company was founded in 2008 and works with some of the best iGaming companies in the world. Last month, the provider expanded its deal with GAN to cover a whopping 15 extra states. A few months earlier, the company penned a West Virginia-oriented hosting deal with EveryMatrix.