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Bet365 to Go Live with Fixed Odds Horse Racing in New Jersey and Colorado Through BetMakers

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Bet365 to Go Live with Fixed Odds Horse Racing in New Jersey and Colorado Through BetMakers

 

BetMakers Technology Group Ltd announced that it has signed two-year market access and content agreements with bet365 relating to New Jersey and Colorado.

Under the agreements, bet365 will be licensed by BetMakers to offer fixed odds bets on thoroughbred horse racing to bet365 customers within New Jersey. Bet365 will also be licensed to distribute BetMakers’ thoroughbred racing content to bet365 customers in New Jersey and both thoroughbred and harness racing in Colorado. Bet365 will pay BetMakers a “Market Access Fee” based on a percentage of all fixed odds bets placed in New Jersey on all thoroughbred racing events it offers to its customers and a “Content Fee” based on a percentage of all fixed odds bets placed in New Jersey and Colorado on applicable BetMakers Global Racing Network content. The contracts will run for two years.

The structure of the market access agreement allows bet365 to seek BetMakers’ approval to offer fixed odds wagering on third party global thoroughbred racing content to its New Jersey customers from the many rights holders globally. Bet365 will be required to pay BetMakers the Market Access Fee in respect of online fixed odds wagering in New Jersey on all thoroughbred racing content, regardless of whether that content is provided by BetMakers or a third party.

Jake Henson, Chief Executive Officer of BetMakers, said: “We are very excited to be launching fixed odds betting on thoroughbreds in partnership with a leading sportsbook in the US. This is a significant milestone for BetMakers and aligns with our strategy for fixed odds betting on thoroughbreds in the US.

“The sports betting market in the US is starting to mature and the interest from operators in horse racing as a product is expected to become even stronger. The high frequency of horse racing can deliver high engagement and high margin returns to operators. We believe the opportunity for both BetMakers and the racing industry more broadly to be significant in the long term.

“We are always actively working with rights holders to deliver opportunities for sustainable industry returns and open new opportunities in expanding growth markets. This opportunity in the US ticks both of those boxes and we look forward to helping our partners build out a global race book.”

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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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Latest News

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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