Press Releases
Return of Sports Brings a Resurgence of Online Betting
As the legal infrastructure becomes more friendly towards sports betting, specifically in the online space, many companies in the gambling industry are beginning to offer more sports betting options. According to a report by the Associated Press, companies like DraftKings are making serious strides in developing easy to use systems available to the public through partnerships with sports leagues. Now, as the restrictions of social distancing are slowly being scaled back in numerous states, new numbers on gambling and sports betting are being reported. For example, a report by the Chicago Sun-Times indicates that New Jersey gamblers set a nationwide record for the most money bet on sports in a single month, spending almost USD 668 Million in August on events including resurgent baseball, basketball and hockey seasons that had been interrupted by the outbreak. FansUnite Entertainment Inc. (OTC: FUNFF) (CSE: FANS), DraftKings Inc. (NASDAQ: DKNG), International Game Technology PLC (NYSE: IGT), Boyd Gaming Corporation (NYSE: BYD), Penn National Gaming, Inc. (NASDAQ: PENN)
New Jersey has been the first state to make sports betting legal back in 2018. In total, sports betting is legal in some form in 24 states, according to date provided by ESPN. Of course, sports betting legalization in the United States is a complex issue. Nevertheless, despite the legal challenges, interest in the industry is high. According to a report by MarketWatch, many have invested money into a new exchange-traded fund that tracks the sports betting and online gambling industries. This represents a “remarkable vote of confidence for a fund that’s only a few days old,” said Dave Nadig, a longtime industry veteran now at ETF Database. “I am a fan of this fund. If you believe online sports betting is the next big thing, this fund will capture everything from back-office infrastructure to front-facing retail plays.”
FansUnite Entertainment Inc. (OTC: FUNFF) (CSE: FANS) announced earlier last week that,
“McBookie Ltd (“McBookie”) has continued its impressive performance since becoming part of FansUnite.
The Scottish based operator increased its overall year-over-year (“YOY”) turnover for the months of July and August by 108% – from $3M CAD to $6.3M CAD, with 78% of the turnover growth led by the return of sport.
The increase resulted in a YOY increase in Gross Gaming Revenue over the same period of 412%, resulting in gross gaming revenue of $371K for July and August 2020 and a gross margin of $161K. During the same period last year the platform generated $72K in gross gaming revenue resulting in a gross margin loss of $66K.
With the strong results over the last two months, McBookie is preparing to continue the positive trend with the return of the English Premier League and the other major European leagues in the coming weeks.
‘We are very pleased that McBookie has been able to continue its strong 2020 performance despite the slowdown in sports betting from the global pandemic,’ said Scott Burton, CEO of FansUnite. ‘The figures for the past 60 days have been exceptional and continue to validate our belief in this leading B2C betting brand and the management team behind it. For the duration of 2020, major European leagues are set to begin again and present a great opportunity for McBookie to capture the attention of new and existing customers. We will work directly with McBookie in ensuring their presence in the U.K. expands and they are in a position to service this growing user base of bettors.’
‘The team at FansUnite has worked very hard to improve all aspects of our business since joining FansUnite and it is great to see that replicated in the numbers,’ said Paul Petrie, founder and Director of McBookie. ‘With just one month to wait until the whole of Scottish football is back, having the resources and expertise of FansUnite helps puts us in an excellent position to continue building on our recent success.’
While the return of sport has provided an uptick in betting volume, casino turnover during the two-month period was strong as well with $3.1M wagered. McBookie will be looking to build on these numbers with the recent launch of a Live Casino product earlier this month.
‘After launching a successful Virtual Sports betting offering in March, we decided to expand our platform with the addition of a Live Casino,’ continued Paul Petrie. ‘It represents another betting alternative for our loyal customers and helps us diversify our revenue stream.'”
For our latest “Buzz on the Street” Show featuring FansUnite Entertainment Inc. recent corporate news, please head over to: https://www.youtube.com/watch?v=SkSk3GQD6GI
DraftKings Inc. (NASDAQ: DKNG) announced yesterday a multi-year agreement with ESPN to become a co-exclusive sportsbook link-out provider and exclusive daily fantasy sports provider of the media giant. Links across ESPN digital platforms will connect fans to DraftKings’ products and services. “ESPN helped revolutionize the 24/7 sports news cycle and continues to be the go-to source for many fans today on the latest and largest sports stories,” said Jason Robins, Co-Founder, Chairman and Chief Executive Officer, DraftKings. “We look forward to this collaboration to exclusively showcase DraftKings’ daily fantasy content and offerings while also advancing further visibility and mainstream adoption of our regulated sports betting products.” Under the agreement, DraftKings will now be able to integrate its products and offerings across ESPN’s digital platforms. DraftKings will also power existing and future ESPN studio shows with dedicated segments for promotion, beginning with daily fantasy sports.
International Game Technology PLC (NYSE: IGT) announced last month that it has expanded its PlaySports offering for the U.S. sports betting market with the formation of its own full-service Trading Team based in Las Vegas, Nev. The diverse and talented team adds another dimension of service to the most widely deployed B2B sports betting solution in the U.S. market and further cements IGT’s market leadership. “IGT’s in-house, U.S.-based Trading Team enhances the appeal of the entire PlaySports offering and enables us to deliver an ‘all-indone’ solution for operators seeking a single sports betting service provider,” said Enrico Drago, IGT PlayDigital Senior Vice President. “IGT PlaySports’ pure B2B focus, the Trading Team’s in-depth knowledge of regional and local betting preferences and trends, and the Company’s favorable regulatory standings in tribal and state-governed jurisdictions across the U.S. continue to create opportunities for our customers and drive our nationwide sports betting leadership.”
Boyd Gaming Corporation (NYSE: BYD) and FanDuel Group just announced the debut of the FanDuel Par-A-Dice Sportsbook in the state of Illinois. Sports bettors across the state of Illinois now have access to FanDuel’s industry-leading online and mobile sports-betting platform, with wagering options available in professional football, basketball, baseball, hockey and more. Additionally, FanDuel will operate a retail sportsbook located at Boyd Gaming’s Par-A-Dice Casino in East Peoria, Illinois, pending regulatory approval. Keith Smith, President and Chief Executive Officer of Boyd Gaming, said: “Given the tremendous success of our existing FanDuel Sportsbooks, we are confident that the FanDuel Par-A-Dice Sportsbook will quickly become Illinois sports bettors’ mobile app of choice. We are excited for the opportunity to offer both mobile and retail sports betting in one of the most populous states in the country, as we continue to expand our strategic partnership with FanDuel Group.”
Penn National Gaming, Inc. (NASDAQ: PENN) announced on July 1st, that it had entered into a partnership with Sportradar, the global provider of sports data and content, to use official National Football League (“NFL”) data on the Company’s sports betting platforms. As part of the partnership, Penn National has the ability to offer a wide array of live, in-game wagering options on NFL games at its retail sports betting locations and on its Barstool Sportsbook app, which is expected to launch in the third quarter of 2020. “We are thrilled to be partnering with Sportradar for NFL data in advance of the upcoming football season,” said Jon Kaplowitz, Senior Vice President of Penn National’s interactive gaming division. “Delivering official NFL data to our growing, loyal audience, including over 66 million Barstool fans and our 20 million casino customers, will provide tremendous wagering opportunities where we operate sports books across the country.”
SOURCE FinancialBuzz.com
eSports
CAPCOM’S STREET FIGHTERTM 6 GOING TO COLLEGE THIS FALL
- CSMG will create and operate College Street FighterTM Tour in North America for the 2024-25 academic year
- College conference Street Fighter 6 champions will punch their ticket to the national Collegiate Esports Commissioner’s Cup (CECC) & May Madness in 2025
Press Releases
Genome and Chilli Partners join forces to revolutionize iGaming affiliate payouts
Leading the charge in the convergence of financial technology and iGaming, Genome, a cutting-edge electronic money institution, is thrilled to announce its strategic partnership with Chilli Partners, a prominent iGaming affiliate program specializing in casino games.
The collaboration marks a pivotal moment in the iGaming industry, bringing together Genome’s expertise in online financial services and Chilli Partners’ prowess in affiliate marketing. The partnership is set to redefine the landscape of affiliate payouts, offering an array of benefits to both affiliates and the iGaming community at large.
“We are excited to embark on this journey with Chilli Partners. By combining our financial expertise with their influential position in the iGaming affiliate space, we aim to set new standards for efficiency and innovation in affiliate payouts,” – noted Genome’s CEO Daumantas Barauskas.
For one, the partnership offers efficient payouts. Affiliates can now enjoy expedited and secure payouts through Genome’s state-of-the-art financial infrastructure, enhancing their overall experience and satisfaction.
It also provides global reach for Chilli Partners, as it can extend its reach to affiliates worldwide with Genome’s international payment capabilities. This allows Chilli Partners to foster a more diverse and expansive network.
The partnership streamlines financial workflows, ensuring seamless transactions and reducing administrative overhead for Chilli Partners, allowing them to focus on delivering top-notch affiliate services.
Genome is all about innovation in payments and online financial services. This approach brings new possibilities for payment options, providing flexibility and convenience for affiliates participating in the Chilli Partners program.
Lastly, the collaboration prioritizes compliance and risk management, assuring affiliates of secure and compliant transactions in accordance with industry regulations.
“This partnership aligns perfectly with our commitment to providing the best possible experience for our affiliates. Genome’s advanced financial services will play a crucial role in elevating our affiliate program to new heights”, – added Clayton Zammit Cesare, Head of Affiliates at Chilli Partners.
As the iGaming industry continues to evolve, Genome and Chilli Partners stand united in their dedication to driving positive change, innovation, and reliability. The partnership is poised to create a ripple effect, positively impacting the entire iGaming ecosystem.
About Genome
Genome is a leading EMI that provides innovative financial services, including batch payouts, SWIFT, and SEPA transfers. With a focus on efficiency and compliance, Genome empowers businesses across various industries, including iGaming, to streamline financial operations and enhance user experiences.
For more information, please visit https://genome.eu/
About Chilli Partners
Chilli Partners is a prominent iGaming affiliate program specializing in casino games. With a commitment to excellence, Chilli Partners connects affiliates with top-tier iGaming brands, offering a lucrative partnership that includes competitive commission structures and tailored support.
For more information, please visit https://chillipartners.com/
Latest News
Rivalry Announces 2023 Annual Letter to Shareholders and Filing of 2023 Annual Financial Statements
Rivalry Corp. (the “Company” or “Rivalry”) (TSXV: RVLY) (OTCQX: RVLCF) (FSE: 9VK), the leading sportsbook and iGaming operator for Gen Z, is pleased to announce its 2023 annual letter to shareholders and the filing of its financial results for the three (3) and 12-month period ended December 31, 2023. All dollar figures are quoted in Canadian dollars.
2023 Annual Letter to Shareholders
To our Shareholders,
This time last year I spoke about Rivalry’s evolution from a market leader in esports to a diversified Company setting the standard for Gen Z betting entertainment broadly.
Today, we have a business with revenue distribution across casino, sports, and esports betting, growing market share in new geographies, with increased velocity in core regions, and the strongest customer KPIs in Rivalry’s history.
In 2023, Rivalry recorded $423.2 million in betting handle1, up 82% from the previous year. Similarly, gross gaming revenue2Â and net revenue both saw 34% and 66% respective increases, while the introduction of higher margin products released in H2 such as Same Game Combos and Quick Combos are continuing to improve overall sportsbook hold and guide Rivalry closer to profitability.
Our deepened product suite now includes fantasy, additional sports coverage, and new proprietary casino games. All of which are uniquely driving growth among a targeted customer segment and widening our opportunity set in 2024 and beyond – from a 60% increase in traditional sports betting to a burgeoning B2B game vertical. The potential for how far our brand can go is just beginning to unfold.
The year ahead is rife with new, innovative product releases arriving in Q2 and continuing throughout 2024. We are doubling down on core growth opportunities in sports that resonate with our audience, such as basketball and soccer. Further, we are building on a successful casino segment which already represents 50% of our business, enhancing variety, depth, and accessibility, as well as developing new original games which blur the lines between betting and entertainment. We are in the process of additional geographic expansion, and pursuing new licenses to broaden our total addressable market, positioning Rivalry to own the Gen Z gambling opportunity globally.
While Rivalry’s operations have expanded into new high-growth verticals, our north star has remained the same: to define the future of online gambling for a generation born on the internet.
Online gambling in 2024 is radically different than it was just six years ago when Rivalry launched. In that time we’ve seen gaming and internet culture reshape how consumers engage with technology. That shift is broadening the definition of gambling, where product design is influenced by video games, or it exists fully embedded within social apps like Telegram, where content creators are the new affiliates, and much more.
Over the same period, the rise of cryptocurrency and blockchain technology has introduced a new level of speed, access, and security to web-based consumer experiences. Industry estimates now put crypto wagers at up to one quarter of global betting handle3, with 30% year-over-year growth in 20244, and showing no signs of slowing down.
The development of this ecosystem has commercially unlocked online gambling unlike anything since its first transition from land to online many years ago. It has brought in a new global audience, and enriched the customer experience from end-to-end.
Alongside the growth of this technology has emerged new methods of gambling, taking wallet share from more traditional forms at an accelerated rate. The shift in consumer behavior and the signal from our users is clear – interactive, volatile, and crypto-infused product experiences will set the precedent for how the next generation gambles online.
Rivalry, with a brand steeped in internet culture and living at the intersection of this digital economic renaissance, is well-positioned to access this growth opportunity. There is high overlap between Gen Z, gamers, gamblers, and a fast-growing audience of over 420 million crypto users worldwide5Â organically aligned with our audience and brand. And we believe that more than half of this audience globally is already wagering with crypto.
It will be Rivalry’s ability to understand, implement, and adapt to this shift more rapidly than our peers that we expect to create first-mover advantages for us. It is for that reason that our vision is now bolder than ever for what’s possible in the online gambling category.
Soon, we will reveal plans for a crypto-enabled product set to enhance alignment between Rivalry and its users, increase network effects, and generally deliver a consumer experience that lives on the internet of 2024.
To that effect, the success of our first-party games and their ability to acquire and engage a captive audience of Gen Z bettors online has validated our original game development strategy amongst industry peers. This has unlocked a new commercial opportunity for Rivalry to license its IP, opening up another line of revenue for the business that has great potential for global scale.
The year ahead is poised to be one of our most ground-breaking, with a myriad of innovative product releases across all of Rivalry’s verticals, adding more dimension to our business, operations, and addressable audience, and building on our competitive moat as the market leader in Gen Z betting entertainment.
We look forward to sharing more details about these upcoming initiatives, the opportunities they will unlock for our Company, and delivering on our promise to create long-term shareholder value and reach profitability. Thank you all for your continued support.
-
Interviews5 days ago
Women in iGaming Interview: White Hat Studios’ Holly Fairweather
-
Gambling in the USA3 days ago
Kambi Group plc extends Mohegan partnership with on-property sports betting agreement in Pennsylvania
-
Latest News5 days ago
White Hat Gaming strengthens executive team with Justin Psaila announced as new Chief Financial Officer
-
Compliance Updates3 days ago
OpenBet bolsters compliance technologies with the launch of geolocation product, OpenBet Locator™, powered by Amazon Web Services (AWS)
-
Gambling in the USA2 days ago
Clark County residents can bring a friend for free to next week’s Super Bingo $160,000 tournament at the Plaza Hotel & Casino, May 6-8
-
Compliance Updates5 days ago
Reputation matters – the importance of supplier licensing
-
Compliance Updates5 days ago
North Carolina Lawmaker to Introduce Bill to End College Player Prop Bets
-
Latin America5 days ago
Sportingtech Places New Local Talent Front and Center at BiS SiGMA Americas