Press Releases
Sports Betting Continues to Gain Traction in the United States
After the landmark Supreme Court ruling in 2018, in which the court struck down the ban on sports betting, any state got the option to pursue legalization. The state of New Jersey was the first to make sports betting legal. Yet, the legal infrastructure of sports betting still remains complex. For example, in each state, online betting companies such as FanDuel and DraftKings have to apply for supplier licenses, and the licensing process varies depending on the state. In addition, after the licensed is granted, these companies must reach agreements with existing land-based casinos for what is called “skins,” which is what eventually gives them the right to operate in each state. For instance, DraftKings made a deal with Caesars last year, which gave it market access in 12 states outside New Jersey, and in the meantime, Caesars received DraftKings equity for the skins access. FansUnite Entertainment Inc. (CSE: FANS), DraftKings Inc. (NASDAQ: DKNG), GAN Limited (NASDAQ: GAN), MGM Resorts International (NYSE: MGM), Caesars Entertainment Corporation (NASDAQ: CZR)
The complexity of the legal infrastructure means that states may have different companies competing for market share. According to an article by CNBC, Richard Carter, CEO of SBTech, explained that “there is no doubt both FanDuel and DraftKings will have large market share… But different states will have different market leaders. You need market access. Some states will be lottery-only. Some states will be limited to tribal gaming. Some states won’t allow FanDuel and DraftKings to use their brands. They’ll have to use the casino brand. There are lots of nuances. You have to take each state as it comes.” More recently, sports betting also started to get traction in California, an enormous potential market for this segment. MarketWatch reported that two California lawmakers recently pitched legalized sports betting as a way to help increase the state budget, which is currently devastated by the economic shutdown designed to slow the spread of the pandemic. California trails 22 other states that have already authorized sports betting.
FansUnite Entertainment Inc. (CSE: FANS) just announced breaking news that it is, “pleased to introduce Mr. Saxon Shadforth, a leading gaming executive.
Mr. Shadforth has over 25 years of global leadership expertise and 15 years experience as an online gambling executive. With a background in commercialization, consumer hardware/software, enterprise software, product strategy and delivery; Saxon has extensive experience managing complex ecosystems required to operate and scale gaming brands in many categories and jurisdictions. Saxon has previously worked at Activo in Montevideo, Uruguay, Yew Tree Services in Manila, Philippines, Riplife Gaming Technologies in Barcelona, Spain and Gateway Inc. in both Sydney, Australia and Denver, Colorado.
‘We are extremely excited to have an individual of Saxon’s caliber join our board of directors,’ said Darius Eghdami, Chairman and CEO of FansUnite Entertainment. ‘As a fast growing company in the gaming sector, Mr. Shadforth is perfectly equipped to provide us with oversight in a number of growth areas. Having spent the majority of his career working abroad in North America, Europe, Asia and Latin America, Saxon will be integral in expanding our footprint and entering international gaming jurisdictions by leveraging his established network.’
As a veteran in the gaming industry, he has structured and advised on the launch of new platforms across the globe, numerous M&A transactions in both start ups and later stage growth companies, and has managed teams of over 300 people in the gaming industry.
‘I am thrilled to be joining such a great team where I will be able to apply my skill set in helping FansUnite build and grow their platform,” said Saxon. “As a online gambling company, FansUnite is uniquely positioned to consolidate gaming assets globally with a key focus on M&A integration and brand awareness. I am eager to provide my insights and I look forward to assisting FansUnite become a leader in the fast growing gaming market.’
FansUnite expects Mr. Shadforth to add expertise in various areas including: product development, acquisition strategy, and commercialization of brands into global markets to support its continued growth as an emerging gaming leader.”
SOURCE FinancialBuzz.com
Approval from the Nevada Gaming Commission paves the way for Kambi to provide its premium sports betting solutions in Las Vegas and across the Silver State
Kambi Group plc (“Kambiâ€), the home of premium sports betting solutions, has received approval for its Nevada gaming licence applications, marking a significant step towards launching in one of the world’s most iconic betting markets. The Nevada Gaming Commission approved Kambi’s application for Manufacturer & Distributor Licenses and an Information Services License, following a unanimous recommendation by the Nevada Gaming Control Board (“NGCBâ€) earlier this month.
The licences will enable Kambi to provide its industry-leading sportsbook technology and services to nonrestricted gaming establishments in Las Vegas and across the state of Nevada for the first time. With limited B2B competition in the state due to the high regulatory requirements, Nevada presents Kambi with future growth opportunities in line with its strategy to expand its footprint across the Americas.
Kambi has been at the forefront of the regulated US sports betting industry since 2018, processing the first legal online wager outside of Nevada following the repeal of PASPA. This latest achievement underscores the company’s dedication to delivering world-class sportsbook solutions while adhering to the highest standards of regulatory compliance and corporate probity.
Werner Becher, CEO of Kambi, said: “Securing approval for our licences in Nevada is an important milestone for Kambi and a testament to our market-leading technology, regulatory expertise and corporate integrity. Nevada is widely known as the gold standard for betting and gaming regulation, insisting on a standard that few companies can meet, and is therefore recognition of Kambi’s unwavering commitment to excellence. We would like to thank both the Commission and NGCB for their thorough review and approval of our applications.”
Red Desert Games content developed by leading industry veterans set to further add to Light & Wonder’s innovative offering.
Red Desert Games launches its new and innovative slot content via the Light & Wonder content marketplace, through the Light & Wonderâ„¢ Spark studio partner program.
Red Desert Games is an emerging slot studio founded by land-based and iGaming industry veterans. The young studio team members have over 100 years combined experience in the global slot industry and are now applying their substantial knowledge, experience, and deep passion for slots to create innovative and engaging content to delight and excite.
As part of this new agreement, iGaming content developed by Red Desert Games will be distributed exclusively across Canada and the USA to Light & Wonder’s extensive operator network and elsewhere around in other key regulated markets via Light & Wonder’s Infinity aggregation platform.
The addition of Red Desert Games to the Light & Wonder™ Spark studio partner program’s roster of premium game studios further cements Light & Wonder as one of the world’s leading content marketplaces. It demonstrates once again Light & Wonder’s ongoing commitment to diversifying its content offering, as well as providing an opportunity for independent studios to significantly boost their international reach.
Edgar Pau, Co-Founder of Red Desert Games said: “We are extremely excited to be selected by Light & Wonder to join their partnership program. Light & Wonder has an unrivalled footprint and is the perfect fit to distribute our range of innovative and engaging games to its global network.â€
“We have been extremely impressed by the whole Light & Wonder team and our interactions to-date. Their product feedback, enthusiasm to work with us and recognition of the uniqueness of our content has given us encouragement that they are the right partner to launch us into the global market.â€
Steve Mayes, Senior Director of Partners at Light & Wonder, added: We are delighted to welcome Red Desert to the Light & Wonder™ Spark studio partner program. Our program is committed to collaborating with the most forward-thinking and innovative new studios, and Red Desert’s distinctive game concepts, inventive mechanics, and meticulously crafted, visually captivating titles truly embody these values. We are excited to support their global expansion and look forward to a promising and successful journey together.
Fourth Star, the cutting-edge virtual reality immersive media streaming platform, is officially available to the public. This innovative platform transforms traditional entertainment by enabling users to seamlessly watch standard 2D, 180 and 360 immersive media content and movies. Fourth Star redefines how audiences engage with immersive storytelling, offering an unparalleled first-person centric perspective on entertainment.
“Fourth Star is more than just a platform – it’s a revolution in entertainment,” said Greg Simon, Co-Founder & CEO of Fourth Star. “We’ve created an immersive experience where users can not only consume content but also actively participate in it. Our vision is to transform how people experience media content and movies in a way that has never been done before.”
A New Era of Interactive Entertainment
The largest immersive media streaming platform available on Sidequest, users can explore nearly forty unique environments, interact with AI-driven crew, and experience entertainment in an entirely new way. Fourth Star offers a groundbreaking approach to digital engagement, whether socializing in the Cafe, customizing avatars in private Apartments or Ships, or stepping directly into a movie’s storyline.
“The combination of VR, AI, and blockchain in Fourth Star sets a new standard for immersive entertainment,” said Craig Wiltshire, CTO of Fourth Star. “Our vision is to seamlessly integrate all three technologies into the user experience. We are redefining the entertainment experience from passive observation to active creation.”
Built for Content Partners
Fourth Star is a self-serve platform designed for content partners of all sizes, from individual creators to blockbuster studios. Content partners can set up an account, create content channels, and begin monetizing their work immediately. No integration is required, allowing for seamless onboarding and instant access to a global audience. The Creator Portal empowers partners to distribute and profit from their immersive media with ease, making Fourth Star a truly open and accessible metaverse for digital entertainment.
Key Features of Fourth Star
- VR Streaming Platform – Users can access nearly forty environments and own their own luxury apartments and ships all equipped with an immersive media streaming entertainment hub.
- Social & Customization – Connect with others in dynamic social hubs, personalize your avatar, and invite your friends to your own luxury apartment and ship.
- Player Portal – Users can access the web-based marketplace to explore content, invite friends,
- Creator Portal – Set up an account, create content channels, and begin monetizing your work immediately. No integration is required, allowing for seamless onboarding and instant access to a global audience.
- Blockchain Integration – The FSTR token, built on the Polygon blockchain, powers the ecosystem, providing secure transactions and exclusive rewards.
- AI-Powered Companions – Coming soon
FSTR: The Utility Token Powering Fourth Star
FSTR serves as the primary ecosystem currency within the Fourth Star platform, enabling users to purchase Apartments, Ships, AI Companions, and exclusive content. Token holders benefit from:
- VIP Access – Exclusive events, early screenings, and red carpet experiences.
- Discounts – 25% savings on in-app purchases (IAPs) and entertainment content.
A New Paradigm in Entertainment
Fourth Star is designed to deliver the future of entertainment through merging cinematic storytelling with interactive gaming, offering:
- A seamless transition from passive to interactive experiences.
- A thriving community for players, creators, and investors.
- Advanced AI integration for interactive AI characters.
- Don’t just watch the star in the movie, become the star.
Availability and Access
Fourth Star is now live and available for users worldwide on Sidequest. Whether you’re an explorer, content creator large to small, storyteller, or entertainment enthusiast, Fourth Star provides an immersive space to experience digital entertainment like never before.
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