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The company has continued to grow throughout 2023, posting solid performance markers driven by the launch of new products and ambitious strides into new markets

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Soft2Bet was able to notch up a 46% year-over-year growth in group revenue for its full financial year 2023, spurred by the arrival of the Motivation Engineering Gamification Application gamification product.

Gamification Takes the Biscuit for Soft2Bet in 2023

Both the company’s B2B and B2C results stood tall during the surveyed period, with financial results marking record gains for the group as a whole, and even prompting Soft2Bet to adjust KPIs to reflect the strong growth period.

Another milestone to appear on the financial books was the 207% rise in company EBITDA compared to the previous period in 2022. MEGA alone accounted for a 60% contribution to gross gaming revenue and has been a clear winner for the company from the very start, but the product has been similarly good for Soft2Bet’s partners.

The success of the MEGA product was hailed by company CEO Uri Poliavich who said that his company is poised to continue to deliver on this and better results throughout 2024. “We are already developing partnerships with new and old friends, expanding into North America, and delivering more game-changing solutions for our partners this year,” Poliavich explained, setting the objectives for the new year.

According to the company’s financial report, partners similarly reported a 70% jump in average revenue per player, giving them a strong incentive to continue collaborating with Soft2Bet and helping the company step into 2024 on a much stronger foothold.

In light of those results, Soft2Bet will continue to seek to improve and expand on its MEGA product which has proven a raging success both commercially and privately. Yet, Soft2Bet wants to further enhance the core platform and help it secure even stronger positions.

Leveraging Technology, Pushing into New Markets

One of the ideas Soft2Bet is naturally exploring is the further integration of Artificial Intelligence and other technological solutions into the solution’s bedrock.

Although iGaming took the biscuit for the company, it similarly recorded gains in sports betting supply operations, with the company successfully reaping bounty in Italy, Romania, Greece, and Sweden among others. Sports betting operations jumped by 300% for the company.

All the while, the company is preparing for a more serious push into the North American market, especially now that close to 40 states regulate sports betting and iGaming has just become legal in Rhode Island. Yet, the company is preparing to push further, including in places such as Ontario, Canada, and Mexico.

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The decision has ignited a wider community discussion, with critics raising concerns about the social ramifications of introducing video gaming

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In a move that signals a significant departure from tradition, Evanston Human Services Committee voted to greenlight the installation of video gaming terminals in up to nine local restaurants with liquor licenses. This decision, overturning a longstanding ban on such devices, has stirred controversy within the community.

Universal Gaming Group Proposal Sparks Debate in Evanston

The proposal, championed by Rob Bady, a sales representative for Universal Gaming Group, received considerable attention during Monday’s committee meeting, reported Evanston Now. Bady, also a former aldermanic candidate, argued in favor of introducing the machines, citing interest from several local eateries. According to Bady, these terminals, akin to those found in Las Vegas, present a lucrative opportunity for both businesses and the city.

Despite concerns voiced by some members of the committee, including Ald. Eleanor Revelle, who expressed reservations about the city’s reliance on gambling revenue, the motion passed with notable support.

Ald. Devon Reid, while acknowledging personal moral objections to gambling, endorsed the proposal, emphasizing its potential financial benefits for the city. Reid also proposed imposing limits on the share of revenue generated from gambling activities, akin to restrictions imposed on tobacco sales.

Evanston Weighs Pros and Cons of Video Gaming Expansion Amidst Controversy

The decision, however, has sparked a broader debate within the community. Critics, echoing sentiments previously expressed by Ald. Melissa Wynne, questioned the societal implications of introducing video gaming into local establishments. They argue that the potential economic gains may come at the expense of community values and well-being.

On the other hand, proponents highlight the fiscal advantages, pointing to data indicating substantial revenues generated from video gaming across Illinois. With municipalities collectively earning $144 million from such activities last year alone, supporters argue that Evanston stands to benefit financially from embracing this industry.

As the ordinance progresses to the full City Council for consideration, the discussion surrounding video gaming in Evanston is far from over. The decision to permit these terminals reflects a delicate balance between economic opportunity and ethical considerations, with implications that extend beyond mere revenue generation.

The Evanston debate on video gaming machines comes on the backdrop of another gambling tax change in the state. Illinois’ recently proposed Fiscal Year 2025 budget includes a substantial increase in the tax rate for sports betting, aiming to raise it from 15% to 35%. This change is anticipated to generate around $200 million in revenue for the state, contributing to its economic infrastructure and education initiatives.

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Liu\’s purported method involved covertly attempting to record the card sequence in the baccarat deck using a camera application on his mobile phone

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Authorities in Pennsylvania are on the hunt for a suspected baccarat cheater after an attempted scam at the Mohegan Pennsylvania casino in Wilkes-Barre. The individual in question, Jianchu Liu, a 47-year-old Chinese national, is believed to be part of a professional cheating ring known to have targeted various casinos across the United States.

Surveillance Footage Exposes Baccarat Cheat’s Sophisticated Scam

Liu’s alleged modus operandi involved attempting to surreptitiously record the sequence of cards in the baccarat deck using a camera app on his cellphone. However, his actions did not go unnoticed, as the casino’s surveillance cameras caught him in the act, reported The Citizen’s Voice.

According to state police reports, Liu was identified through his casino rewards card. Investigators suspect that he is affiliated with a group of cheats known for employing sophisticated techniques to gain an advantage at the baccarat table. This group has previously operated at casinos such as the Golden Nugget and the Imperial Palace in Biloxi, Mississippi.

The cheating method employed by Liu and his associates typically involves the use of a cut card to momentarily expose the order of the cards in the deck. This information is then relayed to the cheater, allowing them to make strategic bets with an unfair advantage.

Baccarat Cheater Evades Arrest, Authorities Seek Public Assistance

During the incidents at Mohegan Pennsylvania, Liu’s actions aroused suspicion among casino security personnel. On one occasion, he was observed manipulating the dealer’s hands in an attempt to influence how the cards were handled, leading to a confrontation between Liu and the dealer.

Following a thorough investigation, state police obtained a warrant for Liu’s arrest on two misdemeanor charges related to fraud and trickery. Despite the warrant, Liu has not yet been apprehended or arraigned.

Baccarat is a popular card game where players aim to bet on the hand with the highest value, which is nine. However, Liu’s alleged cheating attempts disrupted the fair play of the game, prompting authorities to take swift action.

As the investigation continues, authorities are urging anyone with information regarding Jianchu Liu’s whereabouts to come forward.This is not the first time baccarat has been the subject of cheating. In January, a Mohegan Sun baccarat dealer, Yu Wen Fu, was accused of rigging games by arranging cards in a specific order, resulting in significant losses for the casino. Despite facing charges of larceny, Fu maintained his innocence, claiming accidental card exposure during shuffling.

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Some customers won not one but two jackpots

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Casinos on the Vegas Strip and beyond have paid out millions of dollars in jackpots to players over the past few days. This has highlighted the gambling industry’s potential to change lives and reward lucky customers.

Lucky Customer Makes It Look Easy, Wins Two Jackpots in a Row

Speaking of luck, one of the aforementioned jackpot winners won not one but two jackpots, hours apart. The fortunate player was firing up the reels of slot machines at Caesars Palace Las Vegas when they won their first prize.

After winning $165,000 at 5 am, the player continued playing for a few more hours. Five hours later, the same player struck another prize, this time winning a staggering $545,000.

Overall, the player’s journey to the casino turned into a $710,000 payday. The lucky Caesars customer preferred to remain anonymous and did not disclose their plans for the money.

Caesars Rewards Member Wins Over a Million

Caesars Palace was not the only Caesars-owned Vegas property to pay out a huge jackpot. A week ago, a Planet Hollywood Resort & Casino visitor won a jackpot of over a million dollars.

The customer, who was a Caesars Rewards member, visited the casino to play some Pai Gow Poker. To their surprise, they hit the mega progressive jackpot, receiving a whopping $1,208,521.

For reference, this jackpot was won on February 28.

Casinos Outside the Strip also Made People Rich

Beyond the Vegas Strip, a number of other Vegas casinos also turned their customers’ lives around by paying out huge prizes. These included a $450,600 jackpot from a $10 bet at Red Rock Casino on Friday. The huge prize was won by a lucky Double Double Bonus Poker player.

A day later, Red Rock paid out jackpots to a Super Double Double Bonus Poker player. After winning $200,000, the customer proceeded to play and, mirroring the Caesars Palace player, won a second jackpot, this time scooping up $160,000.

Green Valley Ranch Nevada, on the other hand, paid out $595,800 to a lucky player from Arizona.

Speaking of winners from Arizona, a visitor of the Inn of the Mountain Gods in New Mexico just won a record-breaking award for the casino. After wagering $3.75 on a slot, the woman claimed a huge $1.13 million prize.

On the topic of jackpots, the Powerball jackpot hit $443 million for the recent drawing and, after not getting claimed, no stands at $485 million. The next drawing is scheduled for March 6.

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In a 12-page ruling the Court of Appeals of Virginia affirmed the lower court\’s decision to dismiss Cordish Companies\’ lawsuit against Norfolk

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In a significant legal victory for the city, Norfolk has successfully fended off a $100 million lawsuit filed by Cordish Companies, the developer of Waterside District. The lawsuit claimed that Cordish should have had the first right to develop a casino in Norfolk and sought damages over the city’s casino plans with the Pamunkey Indian Tribe.

Norfolk’s Partnership with Pamunkey Tribe Prevails in Casino Lawsuit Appeal

The Court of Appeals of Virginia, in a 12-page ruling issued on February 27, upheld the lower court’s decision to dismiss Cordish’s lawsuit against Norfolk, Norfolk Redevelopment and Housing Authority (NRHA), and city attorney Bernard Pishko, as reported by The Virginian-Pilot.

Cordish Companies, a Baltimore-based developer that revitalized Waterside in 2013, argued that it should have exclusive rights to develop and operate a casino based on its Waterside development agreement and lease.

Norfolk’s decision to move forward with the Pamunkey Indian Tribe for the HeadWaters Resort and Casino, located less than a mile from Waterside, triggered the legal dispute. Norfolk District Associates, a Cordish-owned LLC, sued in 2021, alleging breach of contract and an active attempt to exclude Waterside from casino site considerations.

The case was initially dismissed by a Richmond Circuit Court judge in 2022, leading Cordish to appeal. In the ruling from February 27, the Court of Appeals affirmed the lower court’s decision, stating that the 2013 lease agreement did not obligate the city and NRHA to use Norfolk District Associates to develop a casino.

Judge AtLee: Casino Deal Unenforceable

Judge Richard Y. AtLee, representing the three-judge panel, explained that they concluded section 10.2.1 of the agreement could not be enforced because it was essentially an agreement to agree, and the agreement did not allow for a casino. This, he said, supported the circuit court’s decision to uphold the demurrers.

Cordish Companies refrained from providing a comment regarding the ruling. In contrast, city attorney Bernard Pishko conveyed satisfaction, expressing that they were pleased with the court’s confirmation that Cordish and John Lynch had filed the lawsuit against the city, city attorney, and NRHA without a basis.

The appeal process included two rounds, with the second round featuring oral arguments in December 2023 after one judge had to recuse themselves due to a conflict of interest.

The judges who participated in the final round of oral arguments and made the ruling were AtLee, Haley, and Dominique A. Callins, with Causey recusing.The legal victory solidifies Norfolk‘s position in moving forward with the HeadWaters Resort and Casino alongside the Pamunkey Indian Tribe.

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The Ocean State has much to be happy about as it became the seventh state to offer online casino products in the US

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This has been made possible through Bally’s, which has been offering interactive casino games of chance since Tuesday, and is the first time the country has seen a new expansion and a subsequent launch of iGaming since Connecticut became the sixth state to do so in October 2021.

Rhode Island Lifts the Curtain on Online Casino Gaming

The key event here is not so much the arrival of interactive gambling, as online sports betting has been available in Rhode Island since late 2019. Last year, the state gave its go-ahead to Bally’s to operate an exclusive live casino with Stakelogic, a supplier with a global reach and a unique blend of live dealer games.

Rather, it’s a matter of introducing online casino games. Bally’s features 170 slot games and it also offers live dealer tables for blackjack and roulette, both of which are popular segments.

However, the online casino does come with some conditions. For one, to play online, players would have to be 21 years of age, as opposed to 18 years for the commercial casino. There are also a host of responsible gambling measures designed to ensure that online players are protected and have access to all they need to engage responsibly with gambling.

That includes session limits, spending and betting restrictions, cool-off periods, and of course self-exclusion. Rhode Island, a small state by any meaningful measure in the United States, has decided to pursue growth in yet another important gambling vertical.

Bally’s is hoping to continue adding to its online casino offer, although there may be a fast-reached ceiling for the actual growth with not that many players to go around. The Ocean State and the latest introduction of online casino games, though, begs the question of how soon before we see others follow suit. The gambling bill that made online casino gambling in Rhode Island is far from ideal, though.

Who May Be Next in the Race for iCasinos?

It only allows Bally’s to offer such products, and this is understandable as Rhode Island operates an exclusive based on an exclusivity model with the brand. Other states though are bigger, and there are already several potential targets for further expansion. Among the names that have openly discussed the idea are both Indian and Illinois.

Florida, which managed to push online sports betting through a tribal compact, has been openly tinkering with the idea of using the same arrangement and introducing online casinos, although all of these are rather far-fetched.

There is a compelling case to pursue growth in Indiana, too, as according to a recent study, the state stands to rake in millions worth of tax windfall, not to mention the added value to the economy. Anything new coming out of Illinois this year, though, is more likely to do with a proposed tax increase, however.

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Maryland Lottery and Gaming also published individual data about the performance of its six commercial casinos

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Maryland Lottery and Gaming published information about the financial performance of the state’s six casinos in February 2024. According to the regulator, revenue remained more or less stable.

The authority said that the six casinos have reported a total gaming revenue of $159.22 million for February. This figure represents a modest 1.4% year-on-year increase from February 2023, when the casinos declared revenue of $157 million.

However, fiscal year to date revenue, representing the period from July through February experienced a slight decline. Whereas Maryland’s casinos reported revenue of $1.37 billion for the previous year to date period, they now reported revenue of $1.28 billion.

In February 2024, The Free State’s casino contributed $67.79 million to the state, representing an increase of 1.3% year-on-year. Contributions to the Education Trust Fund stood at $48.9 million, an increase of 0.5% from February 2023. The casinos also contributed money to the local horse racing industry, as well as to small, minority- and women-owned businesses. 

The Casinos’ Performances Varied

Maryland Lottery and Gaming also published data about the performance of its six commercial casinos.

MGM National Harbor, a Prince George’s County-based property, reported revenue of $66.83 million in February. This represents an increase of $1,234,645 (1.9%) from February 2023. The casino sports 2,276 slots and 207 gaming tables.

Live! Casino & Hotel, meanwhile, posted revenue of $59.34 million, representing an increase of 6.5% from February 2023. The venue is located in Anne Arundel County and has some 3,860 slot machines and 179 table games.

The Horseshoe Casino in Baltimore City, on the other hand, reported February revenue of $14.95 million, highlighting a year-on-year decline of 8.2%. The casino has 1,371 slots and 115 table games.

Hollywood Casino Perryville, a property boasting 689 slot machines and 23 table games, reported revenue of $7.4 million for February, marking a year-on-year increase of 1.4%.

The Ocean Downs Casino in Worcester County disclosed revenue of $6.35 million, a decrease of 7% year-on-year. For reference, the casino has 859 slots and 19 gaming tables.

Finally, the Rocky Gap Casino in Allegany Country reported revenue of $4.34 million in February. This translates into a decline of 18.6%. The casino has 620 slot machines and 16 table games.

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Following Rhode Island\’s recent inclusion among US states offering internet gambling, the momentum for expansion seems unstoppable, indicating a likelihood of more states following suit in the foreseeable future

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In an era marked by the convergence of technology and entertainment, the gambling industry is undergoing a digital transformation, with more US states considering the legalization of online casino games.

Industry Experts Forecast Expansion of iGaming to New York, Maryland, and California

Panelists at the Next.io forum on internet gambling and sports betting projected that New York, Maryland, and potentially California could soon join the ranks of states offering internet gambling.

Despite the challenges, including legislative hurdles and concerns about the impact on traditional brick-and-mortar casinos, the allure of tapping into a lucrative market is undeniable.

Rob Heller, CEO of Spectrum Gaming Capital, noted that while certain dreams in the industry remain unfulfilled, they also present opportunities for expansion, reported the Associated Press.

Shawn Fluharty, a West Virginia state delegate, highlighted New York and Maryland as probable candidates for embracing internet gambling in the near future.

Brandt Iden, vice president of government affairs for Fanatics Betting and Gaming, echoed this sentiment, recognizing the complexities of passing online casino legislation and the need for lawmakers to better understand the industry.

Legislators Debate Impact of Online Gambling on Traditional Casinos Amid Industry Shift

The debate surrounding the potential cannibalization of revenue from physical casinos persists among legislators. However, industry executives argue that online gambling can complement traditional gambling establishments. Fluharty pointed out that Pennsylvania experienced an increase in casino openings after introducing internet casino gambling.

Maryland‘s prospective move towards legalizing internet gambling is accompanied by considerations of tax revenue and job creation.

Meanwhile, New York lawmakers have advocated for internet gambling, although it was not included in Gov. Kathy Hochul’s budget proposal.

At the same time, a recent study conducted by Eilers & Krejcik Gaming (EKG) and commissioned by the iDevelopment and Economic Association (iDEA Growth) reveals that introducing online gaming in the six regulated US states boosts traditional casino revenue by an average of 2.44% quarterly.

Edward King, co-founding partner of Acies Investments, expressed confidence in California eventually embracing online gambling due to its sheer market size.

However, Adam Greenblatt, CEO of BetMGM, offered a differing perspective, suggesting that California may not approve online gambling soon, citing the state’s historical resistance.

Similarly, Texas, another potentially lucrative market, has remained steadfast against online gambling for two decades.However, with Rhode Island recently joining the ranks of states offering internet gambling, the momentum for expansion appears unstoppable, with more states likely to follow suit in the coming years.

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The Sault Ste. Marie Tribe of Chippewa Indians\’ efforts toward the development of two new casinos in Michigan\’s lower peninsula continue

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For more than a decade, the Sault Ste. Marie Tribe of Chippewa Indians (SSM Tribe) has been making efforts to expand its land-based presence with the development of two new casinos. While the Tribe currently operates five Kewadin Casinos around Michigan’s upper peninsula, it has been pursuing expansion to Lansing and New Boston.

The efforts of the SSM Tribe included purchasing land at the two aforementioned locations back in 2012. At the time, the Tribe purchased 2.3 acres of land in Lansing, as well as 71 acres in New Boston. Ultimately, the land was expected to be used by the Tribe for its new casinos which are expected to bring economic stimulus.

According to the SSM Tribe, the land for the two sites was purchased via its Self-Sufficiency Fund. While the Tribe asked the US Department of Interior (DOI), to take the land into trust, which is required for the building of casinos, the agency refused to do so. Citing the Michigan Indian Land Claims Settlement Act (MILCSA), the DOI rejected the request of the Tribe to take the land into trust in 2017. At the time, the agency explained that per MILCSA, the tribe cannot use the Self-Sufficiency Fund for gambling activities.

The Legal Fight Continues

Disagreeing with the DOI, the SSM Tribe launched a lawsuit in 2018. It said that the agency’s decision was in breach of the MILCSA and may stifle its further growth and welfare. However, the DOI’s decision was later reaffirmed by US District Judge Trevor N. McFadden.

However, as announced by PlayMichigan, the SSM Tribe hasn’t given up on the legal fight. The latest episode of the legal saga saw the Tribe raise the matter with the DC Circuit Court. In its legal claim, the SSM Tribe asked the Circuit Court to overturn McFadden’s ruling that reaffirmed the DOI was correct to reject taking the lands into trust under MILCSA.

If the DC Circuit Court overturns the ruling, the Tribe may finally achieve an important milestone in the planned expansion of its land-based portfolio. In case this happens, the land must be taken into trust, paving the way for the development of the Tribe’s two new venues planned in Lansing and New Detroit.

Elsewhere in Michigan, last month, Fanatics Betting and Gaming rolled out its iGaming and sports betting application. The launch made Michigan the thirteenth state where Fanatics has established its sports betting operations and the third state where Fanatics Casino is available.

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The festivities of the grand opening displayed the blending of Mohegan heritage with South Korean culture

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Mohegan INSPIRE, a sprawling integrated resort casino nestled adjacent to South Korea‘s bustling Incheon International Airport, unveiled the grand opening of its first phase on March 5, 2024. This inaugural phase, a testament to Mohegan‘s global expansion, has been in the works for years and comes with a hefty price tag of $1.6 billion.

Mohegan INSPIRE’s Grand Opening: Bridging Heritage with South Korean Culture

The ribbon-cutting ceremony, attended by over 500 distinguished guests, marked a significant milestone not only for Mohegan but also for South Korea’s entertainment and tourism landscape. Among the attendees were leaders and cultural representatives of the Mohegan Tribe, emphasizing the historic partnership forged between the Tribe and the vibrant country of South Korea.

James Gessner Jr., chairman of the Mohegan Tribal Council, expressed his excitement during the ceremony: “The grand opening of INSPIRE is a momentous occasion for Mohegan, making both a historic partnership for our Tribe and elevating our global network of resorts to unprecedented heights. I would like to extend my deepest appreciation to South Korean government for the opportunity to bring our vision to life in such a vibrant country.”

The grand opening festivities showcased the fusion of Mohegan heritage and South Korean culture, offering guests a glimpse into the rich tapestry of experiences awaiting at INSPIRE. From traditional Mohegan smudge ceremonies to captivating performances by Unity of Nations, a Mohegan drum group, and enchanting acts by Korean artists, the event left an indelible impression on all attendees.

Mohegan INSPIRE’s Phase One Sets New Standards in Entertainment

Ray Pineault, president and CEO of Mohegan, highlighted the ethos underlying INSPIRE’s development, emphasizing principles of hospitality, collaboration, and sustainability.

Pineault further emphasized that Mohegan INSPIRE was poised to become a landmark destination and a catalyst for tourism, economic growth, and cultural exchanges, enhancing the region’s allure to visitors from across the globe.

Phase one of INSPIRE boasts a plethora of amenities designed to cater to diverse tastes and preferences. From a sprawling five-star hotel with over 1,200 rooms to the INSPIRE Arena, capable of hosting up to 15,000 guests, the resort offers a multifaceted experience.

Guests can immerse themselves in the surreal ambiance of Aurora, an indoor street enveloped in high-resolution LED displays, or indulge in culinary delights at renowned establishments like Michael Jordan’s Steak House.

Looking ahead, INSPIRE is poised to introduce additional attractions, including an on-site mall with branded shops and restaurants, an indoor food court, and Discovery Park, an outdoor entertainment space.Plans for future expansion phases include an indoor walkway to Incheon International Airport and the addition of a Paramount Studios amusement park, solidifying INSPIRE’s status as a premier destination for entertainment and leisure.

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