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PlayUp Launches Online Racebook

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Online betting and gaming operator PlayUp has launched its online Racebook. The app, available on Android and Apple iOS, allows bettors to bet on races from tracks all over the world.

The pari-mutuel-based platform accepts wagers from bettors in key states, including California, Florida, Kentucky, Ohio, and a host of others plus more that will be added soon. Industry data from Equibase in 2021 showed that more than $12 billion of handle was bet on racing, smashing the previous record set in 2009. The record handle is a clear sign that the racing industry is reaching new people.

Rolling out Racebook is the next product expansion from PlayUp, which currently operates sports betting platforms in New Jersey and Colorado. The company also has its Slots+ product which offers slots, scratcher games, and other instant win offerings in more than 20 states. It expects to offer a full-service iGaming platform in New Jersey later this year.

PlayUp’s U.S. Chairman is longtime racing veteran Denis Drazin who also serves as the CEO and Chairman of Monmouth Park racetrack in Oceanport, NJ. Drazin is also a past president of the New Jersey Thoroughbred Horsemen’s Association, and he feels a resurgence for horseracing is already underway.

“As sports bettors get more and more comfortable with betting on their mobile devices it’s only natural that they look at other betting options including horse racing,” Denis Drazin said.

The launch of the app comes after months of work and development from the PlayUp team, led by Horse Racing Product Manager Michael Dempsey. It was important for PlayUp to launch Racebook for the spring and summer racing season and the Triple Crown, Dempsey said.

“I think bettors are going to love what they see on the frontend of the platform. We really wanted to introduce this as a differentiator in the market, and we’re really excited for what’s ahead.”

Dempsey said the app includes content agreements with key tracks including the likes of Keeneland, Belmont Park, Saratoga, Del Mar, and a host of others.

Global CEO of PlayUp, Daniel Simic commented: “The launch of our online Racebook comes at an opportune time where you will see significant growth in the horseracing industry particularly as the U.S fixed odds market opens up. It is also a testament to the team at PlayUp to be able to deliver a product that taps into the US$12 billion a year sector. It’s an exciting time for PlayUp and our shareholders.”

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Caesars Entertainment Closes Sale of the LINQ Promenade

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Caesars Entertainment announced the closing of the previously announced sale of the LINQ Promenade to a joint venture formed between TPG Real Estate (TPG) and the Investment Management Platform of Acadia Realty Trust (Acadia) for $275 million. Concurrent with the closing of the transaction, Caesars made a $275 million voluntary prepayment of the Term Loan B due 2030 with the proceeds from the transaction.

Latham & Watkins LLP and Brownstein Hyatt Farber and Schreck LLP represented Caesars on the transaction. Kirkland & Ellis LLP provided transaction counsel to TPG & Acadia.

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The Stampede Continues with Aristocrat Interactive’s Buffalo Gold Max Power

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Aristocrat Interactive, Aristocrat’s online Real Money Gaming (RMG) division, announced that the stampede continues with the launch of Buffalo Gold Max Power in the US. This marks the fifth online game in the award-winning and iconic Buffalo portfolio, following the success of Buffalo, Buffalo Gold Collection, Buffalo Chief, and Buffalo Gold Revolution.

Buffalo Gold Max Power builds on the legacy and popularity of Buffalo Gold, a fan-favorite in land-based casinos. This online adaptation is born to entertain with new features powered by Aristocrat’s proprietary Max Power mechanic, offering players up to 46,656 ways to win free spins and collect Gold Buffalos. With dynamic reels that vary from 2 to 6 symbols on every spin and a redefined feature, Buffalo Gold Max Power is ready to create a stampede of excitement.

“For more than a decade, our iconic Buffalo games have captivated players as some of the most iconic slot games in land-based casinos. With Buffalo Gold Max Power, we’re bringing this timeless favorite online with enhanced gameplay and features that players will love. The launch in New Jersey is an exciting milestone as we continue to deliver innovative and memorable gaming experiences globally,” said Josh Morris, SVP Content at Aristocrat Interactive Content & Aggregation.

Earlier this year, Buffalo was awarded the winner of the Top Performing Omni-Channel Slot at the EKG Awards. The launch of Buffalo Gold Max Power is the latest step in Aristocrat Interactive’s strategy to expand Aristocrat’s industry-leading content portfolio into the online space. The game is currently available with online operators in New Jersey, Ontario, Canada and the UK, with more markets to follow overtime.

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Compliance Updates

JCM Global Receives Approval to Operate in West Virginia

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JCM Global announced that it has successfully passed regulatory review and received a manufacturer’s license from the West Virginia Lottery Commission. The license enables JCM to directly sell to and service customers in the state.

“At JCM, we are committed to our customers. While attaining licensing was not required, we pursued it because it allows us to directly provide JCM’s leading technology and advanced systems, backed by our world-class service, and support, resulting in faster service times and simplifying the entire relationship between JCM and our customers,” said JCM SVP – Sales, Marketing & Operations Dave Kubajak in a statement.

JCM recently announced it has attained licenses in Colorado and New Mexico, bringing the company’s total number of active gaming licenses to 177.

In West Virginia, JCM will provide technology, including the iVIZION bill validator; ICB Intelligent Cash Box System, which boosts security and efficiencies across the gaming floor; and the GEN5 thermal printer, which delivers TITO, personalized promotions, and rewards directly to the player.

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