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“Are we remaining passive while society drowns in debt? Are we remaining passive while society is driven to madness – because this is an illness? People lose their minds; they contemplate suicide or abandoning their homes. So, we are going to take serious action.”
During the livestream, the president stated that he had spoken with a woman who said her 26-year-old son had taken his own life because of online betting. He also mentioned hearing from a bettor who had racked up BRL2 million ($388,410) in debt in just three months of wagering.
Lula said he intends to discuss the matter with his team and analyse potential measures to consider the social impact of online betting.
What is Aztec Smash?
Cirsa CEO Antonio Hostench added: “I am delighted to embark on this exciting journey together. The combination of Cirsa and Lottomatica creates a world-class diversified gaming leader with leading positions across its core markets and significant opportunities to accelerate profitable growth.”
Lottomatica will absorb Cirsa though an EU cross-border statutory merger, with Lottomatica continuing as the surviving entity.
Once the deal is completed, current Lottomatica shareholders are expected to own around 67.5% of the share capital, with Cirsa’s shareholders owning the remaining 32.5%.
What is Aztec Smash?
Skillz has challenged Papaya Gaming’s Chapter 15 petition in Delaware bankruptcy court, arguing the Israeli mobile game developer lacks standing because its operations and primary creditor base are anchored almost exclusively in the United States.
In April, a federal jury sided with Skillz (now operating as Firy Inc.) on its claims that Papaya deceived consumers by utilizing computer bots in its head-to-head mobile games.
Three months later, Judge Denise Cote ordered Papaya to pay Skillz $719 million in damages for poaching players from its skill gaming platform on the belief that Papaya had more players and therefore facilitated considerably faster peer-to-peer pairing times.