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US Investment Firm Dodge & Cox Doubles Stake in Entain to 10%

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UK-listed gambling company Entain has revealed that US fund management group Dodge & Cox last week doubled its stake.

The investment, which took its shareholding from 5.01% to 10.33%, took place on the same day Entain reported an update for the third quarter, during which group net gaming revenues rose 7% year-on-year.

As of the Ladbrokes owner’s closing share price on 1 November, the day before the investment, a 5.22% stake would have been worth around £310m.

Entain said on 2 November that it was on track to meet the upper end of its net gaming revenue guidance of $1.8bn to $2.0bn for the full year.

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Dodge & Cox is a San Francisco-based investment manager with $323bn in assets under management as of the end of 2022.

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Funds Advised by Apax Partners LLP Fully Exit their Equity Position in Genius Sports

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Genius Sports Limited announced that Funds advised by Apax Partners LLP (Apax Funds) have fully monetized their equity interest in Genius Sports and no longer holds any shares in the Company. The Apax Funds first acquired a majority interest in Genius Sports in September 2018 and have supported the Company through a period of transformational growth over the last six years.

“Apax has been a tremendous partner to Genius Sports, and we are grateful for their valuable insight and expertise over the last six years. Today marks the conclusion of a very successful partnership, and we look forward to welcoming this next chapter with the ongoing support of our high-quality institutional shareholders,” Mark Locke, Co-Founder and CEO of Genius Sports, said.

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Google Updates its Gambling and Games Policy for the US

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Google will update its Gambling and Games policy for the US on July 15, 2024. The update will allow ads for lottery couriers in specific states, here are the areas:

Arizona, Arkansas, Colorado, District of Columbia, Idaho, Illinois, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Minnesota, Missouri, Montana, Nebraska, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Vermont, West Virginia, and Wyoming.

Advertisers must be licensed in at least one state that requires a license if they target states that do not require one. Certification is mandatory for advertisers. The policy page will reflect these changes when they take effect.

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Ocean Casino Resort Launches Cardless Gaming Feature

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Guests at Ocean Casino Resort, a premier luxury casino destination known for state-of-the-art gaming, now have an easier and more convenient way to play. The resort launched Cardless Gaming, an all-new, fully integrated mobile experience, available via the Ocean Casino Resort Mobile App. Debuting as a first for New Jersey, this feature is designed to put the entire resort’s experience at guests’ fingertips as a one-stop-shop.

“The Ocean Casino Resort Mobile App takes our gaming experience to a new convenient level for avid gamers and fun-goers by providing a cardless option directly to the palm of their hands. By continuously adapting to evolving player preferences and utilizing advancing technology, Ocean solidifies its reputation as the premier gaming experience on the East Coast,” John Forelli, SVP and Chief Information Officer for Ocean Casino Resort, said.

The elevated player experience begins by logging into the Ocean Casino Resort Mobile App. Under “Account,” guests can scroll down to the “Cardless Gaming” section to select play slots or play table games. For table games, the final step is to simply present the QR Code to the dealer or Pit Boss. For slots, players have to select “Cardless Login” on the machine’s display and scan a QR Code to connect and card-in. Physical cards will continue to be accepted for those who prefer it, and in the near future players will also have a Cashless option to utilize. Ocean Casino Resort’s mobile app can be downloaded via the Apple App Store or Google Play Store.

Ocean presents an unparalleled gaming experience, complete with three high-limit slot (The Cove) and table games venues (The Loft and High Limit Table Games), two guest lounges for Ocean Rewards cardmembers, as well as pathways and wayfinders throughout the casino floor for guests to easily navigate between games. Ocean’s high-energy casino features exclusive ocean views, 1750 of the most exciting slot machines and 125 action-packed table games across 135,000 square feet of gaming space.

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