Connect with us

Press Releases

Easing Regulations Open the Door for Innovative Betting Solutions

Published

on

Easing Regulations Open the Door for Innovative Betting Solutions

 

The popularity of sports betting and esports had reached new highs last year. As the pandemic prompted millions to begin social distancing and transition to work or study from home, many online services also saw a surge in demand. 2020 was also marked with several important legal and political victories for the sports betting sector. As the legal infrastructure became friendlier towards online gambling, many companies in the gambling industry began to offer additional betting options. In the United States, for example, there are several states that offer online casino gaming services, including New Jersey, Pennsylvania, West Virginia, and Delaware. Michigan had also just recently passed legislation which will allow it to launch similar services, Shared reports. Furthermore, 2021 seems to follow the trend, as Governor Charlie Baker has filed and introduced a bill that would legalize sports betting in Massachusetts. FansUnite Entertainment Inc., GAN Limited, Bally’s Corporation, DraftKings Inc., Boyd Gaming Corporation.

The most significant boost to the sports betting segment is attributed to the usage of smartphones, which allow bettors to bet at anytime and anywhere. In addition, innovative technologies such as Blockchain, Internet of Things (IoT) and VR are changing the intricacies in many fields, including gambling in an online casino. However, technology is also greatly responsible for the exploding popularity of esports. In recent years, major developments in how video games and esports competitions are organized have occurred. As a result, more investors have been attracted towards this young market, and at this point, it is considered a mainstream industry. This segment also includes gambling and the betting features associated with it, thus resembling the online sports betting segment.

FansUnite Entertainment Inc. and Vancouver-based OneComply Inc. announced last month that they have, “entered into a partnership. OneComply, a compliance and licensing solution, will assist FansUnite as they enter additional North American legalized gaming jurisdictions by advising on protocol and strategy.

This move follows the June 2020 announcement by FansUnite of the amalgamation with Vancouver-based Askott Entertainment Inc. to create one of Canada’s leading online gaming companies, focused on sports betting, esports wagering, and casino games.

‘We are pleased to be partnering with OneComply as we look to tackle the North American gaming market,’ said Scott Burton, CEO of FansUnite. ‘As a licensed betting and iGaming company, we understand how difficult and nuanced the licensing process can be. With the help of OneComply, we will be able to streamline the process to enter new North American markets and showcase our suite of gaming solutions to a broader audience.’

The repeal of PASPA, being the Professional and Amateur Sports Protection Act, has created a wave of newly regulated States across the United States’ gaming market. Companies seeking to gain market entry into these States face massive regulatory processes to obtain operational licenses. The United States legalized gaming industry is State-regulated, meaning companies need to file for each jurisdiction independently. These individual disclosure filings can be thousands of pages in size resulting in substantial internal and external expenses.

‘The amount of opportunity in North America for new-to-market companies can be overwhelming given the various licensing processes and jurisdictional requirements, with companies no longer trying to enter one jurisdiction, but multiple jurisdictions simultaneously. This creates a tremendous amount of lag in productivity even with the most seasoned of compliance and legal teams,’ said Cameron Conn, CEO of OneComply Inc. ‘We understand the importance FansUnite places on regulation, and we look forward to supporting them scale in the North American market.'”

For our latest “Buzz on the Street” Show featuring FansUnite Entertainment Inc. recent corporate news, please head over to: https://www.youtube.com/watch?v=QAmL3Nw6ulY

GAN Limited (NASDAQ: GAN) announced yesterday that it had entered into a definitive agreement with the Seneca Gaming Corporation to provide Simulated Gaming solutions to SGC patrons across all properties on both desktop and mobile. The unique solution is powered by GAN’s core Simulated Gaming software and provides meaningful marketing, brand building and revenue opportunities for both operators and GAN. Seneca Gaming Corporation operates three casinos in New York on behalf of the Seneca Nation of Indians: Seneca Niagara Resort & Casino in Niagara Falls, Seneca Buffalo Creek Casino in downtown Buffalo, and Seneca Allegany Resort & Casino in Salamanca. GAN was selected to develop a custom solution to replace SGC’s former simulated gaming solution, in order to bring a more robust experience to their New York players. As a result, GAN will rebrand SGC’s social play-for-fun offering for both desktop and mobile, and supply both marketing and customer services for the platform’s users. GAN will be also providing marketing services which includes acquisition and retention marketing as part of its holistic services and solutions.

Bally’s Corporation (NYSE: BALY) reported last week that it has entered into a definitive agreement to acquire Monkey Knife Fight, the award-winning, fastest-growing gaming platform and third-largest daily fantasy sports (“DFS”) operator in North America. The all-stock transaction makes Bally’s just the third sports betting company in the U.S. to have a fantasy sports segment. In 2020, MKF, which offers its loyal users a dynamic and creative slate of daily sports and e-sports contests, was ranked by SponsorUnited as the sixth most-searched and tenth fastest-growing brand in sports and entertainment. “With this acquisition, we are pleased to enter into the high-growth DFS market. Monkey Knife Fight is a unique asset that we look forward to incorporating into Bally’s constantly growing omnichannel portfolio of land-based casinos and iGaming platforms,” said George Papanier, President and Chief Executive Officer of Bally’s Corporation. “As with all of the properties and services that fall under the iconic Bally’s brand, we are committed to providing a best-in-class DFS platform to sports fans around the country.”

DraftKings Inc. (NASDAQ: DKNG) announced last month that the Charlotte Hornets have named DraftKings as the exclusive Official Daily Fantasy Sports Partner of the franchise. The multi-year agreement will greatly increase DraftKings’ presence in North Carolina. Along with access to Hornets trademarks and logos, the deal provides that DraftKings-branded LED signage will be featured courtside and on the basket stanchion at Spectrum Center, in addition to logo displays on top of the backboards. The two companies will also collaborate on unique social promotions and content that further align the collective brands. “Charlotte Hornets basketball games are must-watch TV for the NBA, and we look forward to providing Hornets fans with a best-in-class gaming experience,” said Ezra Kucharz, chief business officer at DraftKings. “We look forward to deepening our business relationship with the Hornets organization through this new agreement and showcasing DraftKings in North Carolina.”

Boyd Gaming Corporation (NYSE: BYD) and FanDuel Group reported back in August 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

Gambling in the USA

Casino Management Systems Market size worth $ 30.36 Billion, Globally, by 2031 at 15.5% CAGR – Report By Verified Market Research®

Published

on

 

The Global Casino Management Systems Market is projected to grow at a CAGR of 15.5% from 2024 to 2031, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 9.59 Billion in 2024 and is expected to reach USD 30.36 Billion by the end of the forecast period.

Scope Of The Report

REPORT ATTRIBUTES DETAILS
STUDY PERIOD 2021-2031
GROWTH RATE CAGR of ~15.5% from 2024 to 2031
BASE YEAR FOR VALUATION 2024
HISTORICAL PERIOD 2021-2023
FORECAST PERIOD 2024-2031
QUANTITATIVE UNITS Value in USD Billion
REPORT COVERAGE Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis
SEGMENTS COVERED
  • Module
  • Application
REGIONS COVERED
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
KEY PLAYERS International Game Technology, Scientific Games Corporation, Everi Holdings Inc., NCR Corporation, Micros Systems, Konami Gaming, Light & Wonder, Astra Gaming Group, Novomatic AG Group, Gauselmann Group, Gamesys Group plc, BetConstruct, Melco Resorts & Entertainment, Galaxy Entertainment Group, SJM Holdings Limited, Suncity Group, Paradise Entertainment Limited
CUSTOMIZATION Report customization along with purchase available upon request

Casino Management Systems Market Overview

Technological Advancements Propel Growth: Technological advancements play a crucial role in driving the ever-changing Casino Management Systems Market. Advancements like AI-powered analytics, integration with IoT, and mobile compatibility contribute to improved operational efficiency and increased customer engagement. These advancements fuel the need for businesses to improve their operations and provide exceptional customer experiences, leading to the growth of the market.

Rising Demand for Enhanced Security Solutions: Security is a major concern in the Casino Management Systems Market, leading to a high demand for cutting-edge security solutions. Given the rising number of fraudulent activities and data breaches, casinos are actively looking for strong security measures to protect their assets and ensure the safety of customer information. Addressing these concerns, solutions that provide biometric authentication, encryption, and real-time monitoring can foster trust among stakeholders and contribute to market growth.

Increasing Regulatory Compliance Requirements: The Casino Management Systems Market is seeing a notable increase in demand due to the growing importance of regulatory compliance. Comprehensive compliance solutions are required to meet the stringent regulations in the gaming industry. By utilising systems that provide regulatory reporting, audit trails, and age verification capabilities, casinos can ensure compliance with legal requirements and prevent potential penalties. The increasing emphasis on compliance highlights the significance of advanced management systems, driving the growth of the market.

High Initial Investment Costs: One of the main challenges in the Casino Management Systems Market is the significant upfront costs involved in implementing comprehensive management solutions. Acquiring, integrating, and customising these systems can result in significant upfront expenses for casinos. The financial obstacle hinders the expansion of the market, especially for small and medium-sized businesses. Nevertheless, companies that offer adaptable pricing structures and scalable solutions can help alleviate this limitation, thereby expanding the market’s accessibility to a wider array of businesses.

Integration Challenges and Legacy Systems: The Casino Management Systems Market faces significant challenges due to the complexities of integration and the presence of legacy systems. It is common for casinos to have a wide range of IT infrastructures, some of which may be outdated and incompatible with modern management solutions. Implementing new systems and ensuring smooth compatibility with current infrastructure demands significant time, resources, and specialised knowledge. The integration challenges mentioned can impede market growth as they result in longer implementation timelines and higher deployment costs.

Concerns Regarding Data Privacy and Security: In the ever-growing landscape of data breaches and privacy scandals, the Casino Management Systems Market faces significant challenges when it comes to data privacy and security. Casinos are responsible for managing extensive amounts of sensitive customer data, which includes personal and financial information. This makes them highly attractive to cyber threats. With increasing regulatory scrutiny, casinos are under growing pressure to maintain data protection standards and ensure the privacy of their customers. Tackling these concerns necessitates strong security measures and adherence to data privacy regulations, which introduces additional complexity and expenses to system implementations, thereby limiting market expansion.

Geographic Dominance:
The forecast period is expected to see the Asia Pacific region experiencing the most significant growth. Several countries in the Asia Pacific region, such as Macau, Singapore, the Philippines, and South Korea, have experienced significant expansion in their casino industry. Emerging markets are actively expanding their gaming sectors in order to attract more tourists and boost revenue. This expansion requires sophisticated management systems to optimise operations, enhance visitor experiences, and ensure compliance with regulations.

In addition, the Asia-Pacific region has experienced a notable rise in middle-class populations and disposable incomes. As a result, there has been a growing trend of increased leisure spending, with a particular focus on gaming and entertainment. With the increasing number of casino visitors, there is a growing need for cutting-edge casino management systems. This has led to the creation of innovative technologies that enhance customer service, marketing strategies, and overall operational efficiency.

Casino Management Systems Market Key Players Shaping the Future

Major players, including International Game Technology, Scientific Games Corporation, Everi Holdings Inc., NCR Corporation, Micros Systems, Konami Gaming, Light & Wonder, Astra Gaming Group, Novomatic AG Group, Gauselmann Group, Gamesys Group plc, BetConstruct, Melco Resorts & Entertainment, Galaxy Entertainment Group, SJM Holdings Limited, Suncity Group, Paradise Entertainment Limited. and more, play a pivotal role in shaping the future of the Casino Management Systems Market. Financial statements, product benchmarking, and SWOT analysis provide valuable insights into the industry’s key players.

Casino Management Systems Market Segment Analysis

Based on the research, Verified Market Research® has segmented the global Casino Management Systems Market into Module, Application, And Geography.

  • Casino Management Systems Market, by Module
    • Slot Games
    • Table Games
  • Casino Management Systems Market, by Application
    • Accounting
    • Security & Surveillance
    • Players Tracking
    • Marketing & Promotions
    • Gaming Analytics
    • Others
  • Casino Management Systems Market, by Geography
    • North America
      • U.S
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • U.K
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Rest of Asia Pacific
    • ROW
      • Middle East & Africa
      • Latin America

Leading Casino Management Systems taking gambling to new heights

Visualize Casino Management Systems Market using Verified Market Intelligence -:

Verified Market Intelligence is our BI Enabled Platform for narrative storytelling in this market. VMI offers in-depth forecasted trends and accurate Insights on over 20,000+ emerging & niche markets, helping you make critical revenue-impacting decisions for a brilliant future.

VMI provides a holistic overview and global competitive landscape with respect to Region, Country, Segment, and Key players of your market. Present your Market Report & findings with an inbuilt presentation feature saving over 70% of your time and resources for Investor, Sales & Marketing, R&D, and Product Development pitches. VMI enables data delivery In Excel and Interactive PDF formats with over 15+ Key Market Indicators for your market.

 

Continue Reading

Latest News

UNLV International Gaming Institute Announces Inaugural ESPN Research Fellows

Published

on

 

The resulting research will provide insights into the impact of responsible gambling messages used by media in covering the global sports wagering and gaming industry

The University of Nevada, Las Vegas (UNLV) International Gaming Institute (IGI) is excited to announce the recipients of the 2024 ESPN Research Fellowships. This year’s selection showcases a diverse group of scholars whose innovative project proposals will be pivotal in advancing knowledge on responsible gambling messaging in sports media.

Fellowships have been awarded to:

  • Dr Hannah Borenstein, Harper-Schmidt Postdoctoral Fellow and Collegiate Assistant Teaching Professor at The University of Chicago
  • Chance Dow, a Master’s student at the University of Memphis’ Tennessee Institute of Gambling Education and Research
  • Dr Eric R Louderback, Research and Evaluation Scientist in the Division on Addiction at Harvard Medical School
  • Dr Brian Petrotta, Assistant Professor of Sport Media and Communication at the University of Nebraska-Lincoln, and Dr Travis Bell, Associate Professor of Digital and Sports Media at the University of South Florida

Each of the Fellowship proposals address unique facets of responsible gambling messaging in sports media. As the intersection between sports and gambling continues to evolve, the work of these scholars is essential in promoting healthy gambling practices and awareness.

These projects will provide insights into practical strategies that policy-makers and the industry can adopt to help safeguard the wellbeing of sports enthusiasts and the public at large.

Dr Borenstein will explore the relatively untapped domain of track and field and marathon running. Dr Borenstein’s investigation focuses on the implications of integrating gambling into mainstream broadcasting and spectating of these sports.

Dow will investigate the nuances of gendered gambling and responsible gambling. Dow’s study examines how to enhance the effectiveness of responsible gambling messages, particularly among college student populations.

Dr Louderback will analyze video-based sports gambling advertisements on social media. Dr Louderback’s research looks at how responsible gambling messages influence advertisement effectiveness and demonstrates the use of publicly available social media data in advancing knowledge in responsible gambling.

Dr Petrotta and Dr Bell will analyze actual gambling broadcasts during ‘March Madness’ competitions. The study explores how responsible gambling messages are conveyed and will provide crucial insights into real-world practices during live sports broadcasts.

“The IGI is tremendously excited about these projects,” the Executive Director for the IGI, Dr Brett Abarbanel, said. “A key goal of this initiative is to support innovative and impactful research to better understand the rapidly changing global sports and betting environment. This research represents a broad range of perspectives on how gambling is represented in sports media and holds important implications for all gambling stakeholders.”

“ESPN is proud to work with IGI to advance responsible gaming standards through this comprehensive research,” ESPN Corporate Citizenship Vice-President Kevin Martinez said. “These diverse research projects will help to inform how the industry can continue to respond to and improve upon responsible gaming practices in the sports entertainment ecosystem.”

Each research fellowship lasts for a duration of six (6) months. The results of the research will be featured in an IGI webinar in early 2025.

Continue Reading

Latin America

CGS Events Revolutionizes the Chilean Gaming Scene with the Launch of CGS Santiago in its Fourth Edition

Published

on

 

CGS Events, an American company with over 20 years of experience and a history of collaboration with governments across various territories in Latin America and the Caribbean, known for its distinguished track record in organizing events within the gaming industry, has recently announced a complete overhaul of its image and structure. This marks a milestone in the provision of professional sector meetings with innovations like Gaming Insights, XPO 360 and CGS Xperience at various convention centers across Latin America, thereby paving the way for new participants and expanding the market offering.

It announces its next event, CGS Santiago, which will be held on May 29 and 30 at Espacio Riesco, a renowned convention center in the capital of the country. This fourth edition in the southern country promises to be broader and more inclusive than ever, positioning itself as a crucial forum for discussing the imminent regulation of the sector in Chile.

CGS Santiago will offer two days filled with knowledge, with more hours dedicated to conferences, discussion panels and parallel activities. Participants will enjoy the experience of a space dedicated to the presentation of new products, services and solutions for the gaming industry.

The event will also provide excellent networking opportunities including a welcome cocktail, a gala dinner and the CGS Awards ceremony where the outstanding achievements of key market players will be recognized. The guest list includes regulators, tax experts, cybersecurity specialists, FinTechs, marketing agencies, representatives from casinos, lotteries, iGaming and certification laboratories among others.

This year, the event will also include the Chat and Wine segment, sponsored by the prestigious Brazilian company Pay4Fun, designed to foster dialogue while attendees enjoy an excellent selection of national wines.

With these new proposals, CGS Events positions itself as a benchmark in creating meeting and dialogue platforms in the gaming industry in Latin America and the Caribbean as well as redefining the way professionals and companies in the sector connect and explore future opportunities in an evolving market.

For more information about CGS Santiago and other events, visit the website: www. CGSEvents. io and access details about the CGS Santiago event.

Continue Reading

Trending

GamingAmericas.com (part of HIPTHER) is your one-stop portal for the latest news, insights, and analyses in the gaming industry across the Americas. From legislative updates and market trends to interviews with industry leaders, we provide a comprehensive look at the dynamic landscape of both online and land-based gaming. Whether you're a stakeholder looking to stay ahead of the curve or a gaming enthusiast eager for reliable updates, GamingAmericas.com has got you covered. Follow us on social media and subscribe to our newsletter for real-time updates and exclusive content. Make informed decisions and stay ahead in the game with GamingAmericas.com.

Disclaimer: All the information provided is for educational and entertainment purposes only. Always check your local laws before participating in any gaming activities.

Copyright © 2018 – 2024, HIPTHER. All Rights Reserved.