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Improving Legal Infrastructure Helps Expand Online Betting Possibilities

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Improving Legal Infrastructure Helps Expand Online Betting Possibilities

 

As the legal infrastructure becomes friendlier towards online gambling, many companies in the gambling industry are beginning to offer more betting options. In the United States, there are a several of states that offer online casino gaming services, including New Jersey, Pennsylvania, West Virginia, and Delaware. Michigan also just recently passed legislation which will allow it to launch similar services, Shared reports. And while some states lead, others follow. New Jersey proved to be very successful after the first year legalizing online gambling, recording a substantial increase in state revenue. Following New Jersey’s example, “many states have introduced bills that would regulate gambling online, including sports betting and online casino games… Some of these will have their laws approved quickly and may be able to be up and running by the end of 2020 while others will be launching their platforms in 2021,” according to Canyon News.

Two major segments of the online gambling industry are online gaming (i-gaming) and sports betting. Online gaming, in particular, has proved to be a pandemic proof segment. An increasing number of online events with large prize pools are expected to create new opportunities for players and betters alike. As for sports betting, the segment has also benefited from a continuously improving and friendlier legal infrastructure. 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. As a result of the evident spike in demand, Morgan Stanley reported that it now projects that the domestic sports betting industry will reach revenues of about USD 7 Billion by 2025, a major increase from the USD 5 Billion projected in June 2018 and reiterated last December, Casino.org reports.

Bragg Gaming Group Inc. announced news that ORYX Gaming, a Bragg Gaming Group company, “will be sponsoring this year’s virtual edition of the prestigious World Gaming Executive Summit (WGES).

Hosted on December 8-9th, the digital edition of one of Europe’s most exclusive iGaming conferences will see executives from around the world attend two days of live panel debates, roundtables, presentations and networking events.

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In addition to being a Silver sponsor of the event, three senior members of ORYX will join industry colleagues on panels to discuss a number of exciting topics over the two days. ORYX Gaming’s Managing Director, MatevĹľ Mazij, will take part in a panel discussion on how to get to know customers in order to offer what they need. PrimoĹľ Blazinšek, Head of Operational Marketing, will talk about prioritizing the first-time player experience; while Jovana PopoviÄŤ, Director of BU iGaming Platform & Services, will talk about customer profiling and retention.

‘We are proud sponsors of the virtual edition of the WGES, an event well-known in the industry to attract executives from across the sector and for being a focal point for stimulating and interesting conversations about a wide range of topics,’ stated Matevz Mazij, Managing Director of ORYX Gaming. ‘We look forward to playing a major role in the event and to seeing new and familiar faces during the event.’

DraftKings Inc. announced a new deal, making the sports technology and entertainment company the exclusive Official Daily Fantasy Sports Partner, as well as an Official Sports Betting and iGaming Partner of the NBA team. In addition to access to Pistons trademarks and logos, the deal includes DraftKings-branded courtside LED signage and in-game basket pad branding. The agreement comes as DraftKings prepares to launch mobile sports betting and online gaming in the state of Michigan, pending licensure and the receipt of necessary regulatory approvals. “As our first professional team activation in the state of Michigan, we are thrilled to join forces with the Detroit Pistons ahead of our pending market introduction,” said Ezra Kucharz, Chief Business Officer, DraftKings. “This deal deepens our relationship with a prominent local team to facilitate more immersive fan experiences, both for Michiganders familiar with regulated gaming products as well as newcomers to the space.”

Caesars Entertainment, Inc. announced earlier in September that it had entered into a multi-year agreement with ESPN. The new deal includes link integrations from ESPN’s digital platforms to sportsbooks from Caesars Entertainment’s sports betting partner, William Hill. William Hill Sports Book’s odds and markets connect directly to their sports betting apps in legalized states. The deal comes shortly after William Hill became the exclusive sports betting operator for Caesars Entertainment, following the merger with Eldorado Resorts. Link integrations to William Hill’s sports betting apps, geo-targeted to legalized sports betting states, will appear on ESPN.com web and mobile web and the ESPN Fantasy app. As part of the new agreement, Caesars Sportsbook by William Hill will also become a sponsor of ESPN’s Fantasy products, deepening an existing relationship as ESPN’s exclusive odds provider.

Las Vegas Sands Corp. announced last year that five-time Major Champion Phil Mickelson and rising star Li Haotong will be the company’s guests in Macao on October 21. The visit will be highlighted by a youth clinic conducted by the two golfers. The trip will be first visit to Macao for Mickelson, the World Golf Hall of Famer. “We are excited to have Phil and Haotong in Macao and look forward to them interacting with our guests and the local community,” said Rob Goldstein, the company’s president and chief operating officer. “This is yet another opportunity to put a spotlight on Macao as a world-class leisure and business tourism destination. Phil Mickelson has a tremendous international following and Haotong’s popularity is only going to continue to rise, especially as he plays in events like the 2019 President’s Cup later this year. It will be great to have them both in Macao.” This event is just one example of Las Vegas Sands role in bringing world-class sporting events and professional athletes to Macao. Sands has demonstrated its commitment to increasing access to opportunities for young people in Macao through its partnerships with ambassadors like British football icon David Beckham.

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Boyd Gaming Corporation and FanDuel Group announced in September 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.”

SOURCE FinancialBuzz.com

California

Notice and Agenda for California Gambling Control Commission Meeting

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The California Gambling Control Commission will hold a meeting on June 20, 2024, to consider various applications and renewals related to cardroom owner licenses and other gambling-related licenses. The agenda includes significant items such as:

  1. Initial Cardroom Owner License Consideration:
    • Commerce Casino: California Commerce Club, Inc.
      • Recommendation: Approve the initial application through March 31, 2025.
  2. Renewal of Cardroom Owner Licenses:
    • Artichoke Joe’s Casino:
      • Recommendation: Approve a 90-day extension through September 30, 2024, with existing conditions.
    • Capitol Casino:
      • Recommendation: Approve the renewal application through March 31, 2026.
    • Casino 99:
      • Options:
        1. Approve renewal through December 31, 2025.
        2. Approve renewal with additional conditions.
        3. Refer to an evidentiary hearing and issue an interim license.
        4. Deny the renewal application.
      • Recommendation: Option Three.
    • Jalisco Pool Room:
      • Recommendation: Approve renewal through June 30, 2026, with existing conditions.
    • Mike’s Card Casino:
      • Recommendation: Approve a 60-day extension through August 31, 2024, with existing conditions.
  3. Requests and Other Considerations:
    • Bell Jackpot Casino: Request to withdraw application.
      • Recommendation: Approve the request without prejudice.
    • Empire Sportsmen’s Association: Cancellation of Temporary Work Permit.
      • Recommendation: Cancel the permit.
    • Acme Player Services, LLC: Retraction of hearing referral and renewal application.
      • Recommendation: Retract the referral and abandon the renewal application for specified members.
  4. Third-Party Proposition Player Services Employee License Renewals and Approvals:
    • Various applications for initial and renewal licenses were considered with recommendations to approve through specified periods.
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Arizona

Arizona Department of Gaming Reports $43.6 Million in Tribal Gaming Contributions for the Fourth Quarter of Fiscal Year 2024

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Arizona Department of Gaming Reports $43.6 Million in Tribal Gaming Contributions for the Fourth Quarter of Fiscal Year 2024

 

The Arizona Department of Gaming (ADG) announced today $43,586,004 in tribal gaming contributions to the Arizona Benefits Fund for the fourth quarter of Fiscal Year (FY) 2024. This amount represents an approximate 3.3 percent increase when compared to the same quarter of FY 2023.

“Celebrating yet another remarkable milestone in tribal gaming, we are thrilled to announce that Arizona has witnessed yet another record-breaking year,” said Jackie Johnson, Cabinet Executive Officer, ADG. “With a record contribution of $157.2 million to the Arizona Benefits Fund, our tribal partners have once again demonstrated their unwavering commitment to the prosperity of our state and local communities. We extend our heartfelt gratitude to our tribal partners for their continued dedication and collaboration.”

The Arizona Benefits Fund receives 88 percent of tribal gaming contributions, providing significant dollars to support instructional improvement in schools, trauma and emergency care, tourism, and wildlife conservation throughout the state.

Tribal gaming contributions to the Arizona Benefits Fund for the 4th quarter of the State’s FY 2024 are as follows:

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Instructional Improvement Fund/Education ………………………………………………….. $22,474,451
Trauma and Emergency Services Fund ………………………………………………………….. $10,861,632
Arizona Department of Gaming operating costs ………………………………………………. $3,308,133
Arizona Wildlife Conservation Fund ……………………………………………………………….. $3,103,324
Tourism Fund ………………………………………………………………………………………………. $3,103,324
Problem Gambling Education, Treatment and Prevention …………………………………… $735,140

FY 2024 Qtr 4 Total: Tribal Gaming Contributions to the Arizona Benefits Fund….. $43,586,004

 

Per the Arizona Tribal-State Gaming Compacts, tribes with casinos also contribute a percentage of their Class III gross gaming revenue to cities, towns, and counties. Total tribal contributions to the Arizona Benefits Fund in addition to cities, towns, and counties in the state has amounted to over $2.2 billion since FY 2004. Currently, there are 25 Class III casinos in Arizona, which ADG regulates in partnership with Arizona tribes.

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Canada

GiG signs iGaming platform agreement to expand Ontario market footprint

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GiG signs iGaming platform agreement to expand Ontario market footprint

 

Gaming Innovation Group (GiG) has announced the signing of a Head of Terms with Ventures Lab, for the provision of its award winning iGaming platform, and AI tools DataX and LogicX, marking the fourth partner for GiG in the Canadian province and supporting GiG’s global strategy for regulated market growth.

The agreement with Ventures Lab in Ontario will fully utilise the capability of the platform and the ability to support speed to market. GiG’s experience in Ontario and in global regulated markets, and as exclusive regulated markets provider for the brand, the deal includes scope to leverage the possibility to expand into a multi-jurisdictional partnership in the future.

GiG has focused its suite of pioneering solutions on driving exponential growth in revenue for operators with its highly scalable iGaming platform, offering localised third party content and leading suppliers for the Ontarian market. GiGs peerless gamification layer creates an optimised and immersive casino experience tailored to regional preferences, powering increases in both client retention and player engagement.

As part of the deal, Ventures Lab will benefit from the full power of dynamic AI tools DataX and LogicX. With a growing emphasis on cutting-edge artificial intelligence and automation, the incorporation of the advanced machine learning models into it’s toolkit, with enhancing decision-making processes and rule building will help deliver significant increases in player acquisition and customer retention.

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With the reporting year starting April 1st, iGaming in Ontario has published that the 2023-24 year ended with online gaming revenue topping at €3.8 billion, an 88% increase over the previous year, representing the opportunity for significant growth throughout the province.

Andrew Cochrane, Chief Business Officer at GiG, commented, “GiG is continuing to attract experienced partners who trust in our ability as the technology partner to drive efficiency and profitability in their operations. This agreement further underpins our powerful strategy to capitalise on the overwhelming potential within our market leading solutions, forming strong new partnerships in core regulated markets, with the intention of reaching and exceeding our ambitious growth targets for the business.”

Carlos Strazzer, Chief Executive Officer at Ventures Lab added: “This collaboration will enable us to drive substantial growth and expansion leveraging GiGs vast experience in regulated markets and their leading technology. We’re very much looking forward to delivering an unparalleled betting experience for the Ontarian market and seizing the opportunities this region holds.”

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