Press Releases
Legalization Efforts Prompt the Rise of New Sports Gambling Options
More states are now introducing proposals and bills to further expand sports betting under new regulations, making online sports betting legal or removing certain restrictions. As the legal system slowly becomes more friendly towards online sports betting, states around the country turn towards the young and popular industry as a means for generating stronger tax revenue and improve budgets. For example, last year the progress made in Illinois in regards to online sports betting vastly expanded the mobile wagering options available to the state’s 12.7 million residents, helping the state to generate millions. According to data from Odds.com, which was published by Forbes, Illinois was poised to generate upwards of USD 73 Million in taxable revenue if the estimates of a USD 488 Million annual market come to fruition. The 15% tax imposed on gaming revenue could see this number rapidly increase once measures to allow online and mobile offerings are put in place. FansUnite Entertainment Inc., DraftKings Inc., GAN Limited, Wynn Resorts, Limited (NASDAQ: WYNN), Scientific Games Corporation.
States are now also anticipating a tax revenue bump from the Super Bowl this coming Sunday. According to The American Gaming Association, Americans are estimated to wager a total of USD 4.3 Billion on the highly anticipated matchup between Kansas City Chiefs and the Tampa Bay Buccaneers. Among Super Bowl bettors, a record 7.6 million will bet with online sportsbooks this year, up 63% year-over-year. “This year’s Super Bowl is expected to generate the largest single-event legal handle in American sports betting history,” said AGA President and CEO Bill Miller. “With a robust legal market, Americans are abandoning illegal bookies and taking their action into the regulated marketplace in record numbers.”
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.'”
DraftKings Inc. announced that it had reached an agreement with the National Football League (NFL) to expand their current daily fantasy sports (DFS) and content partnership to Canada. Previously, the landmark marketing and content deal between DraftKings and the NFL was limited to the United States. Today’s announcement of an expanded deal further deepens the relationship between the two organizations and enhances the DFS fan experience in Canada as the NFL season approaches the Super Bowl. “The relationship we share with the NFL is important for DraftKings to provide customers a great experience,” said Ezra Kucharz, Chief Business Officer at DraftKings. “This expanded agreement gives us a unique opportunity in the Canadian market, and we look forward to working with the team at the NFL Canada as we continue to shape the modern fan experience.”
GAN Limited announced last week that it has entered into a definitive agreement with the Seneca Gaming Corporation (“SGC” or “Client”) 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.
Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company’s Wynn Palace segment operates 424,000 sq. ft. of casino space with 323 table games, 1,011 slot machines, private gaming salons, and sky casinos. In recent years the Company also partnered with sports betting operators. For example, earlier in 2018, Wynn announced that it has entered into a strategic partnership with BetBull Limited (“BetBull”), a Europe-based digital sports betting operator, to pursue sports betting opportunities in the emerging U.S. market. The strategic partnership will position both parties to capitalize on the developing U.S. opportunity by combining Wynn Resort’s nationally recognized brand with BetBull’s digital sports betting operations capabilities and technology. In conjunction with the formation of the strategic partnership, Wynn Resorts will make a minority equity investment in BetBull. Wynn Resorts will own 22.5% of BetBull on a fully-diluted basis upon closing of the investment which will occur in due course subject to customary closing conditions. Moelis & Company LLC acted as financial advisor to Wynn Resorts.
Scientific Games Corporation announced back in December that it is partnering with Genius Sports Group, a leading provider of sportsbook management solutions, to provide in-game content to its wagering customers worldwide, excluding U.S. leagues. Sportsbooks operating on Scientific Games’ OpenSportsTM platform will gain access to Genius Sports Group’ LiveData and LiveTrading services, trusted by over 150 of the world’s largest wagering brands and fully customizable for every customer. Genius Sports Group and its sports betting division, Betgenius, created the market for official data across all tiers of sports and today offer partners access to official data for over 170,000 events each year.
SOURCE FinancialBuzz.com
eSports
HAWKS TALON GC SET FOR THE STEAL ON APRIL 19TH FOR CHANCE TO ENTER NBA 2K LEAGUE 3V3 PLAYOFF
Hawks Talon GC, the official NBA 2K League affiliate of the Atlanta Hawks, will begin play in the STEAL on Friday night against No. 14 Blazer5 Gaming at 7:30 p.m.
Talon collected 90 points over the SLAM and SWITCH, earning 60 points in the SLAM and 30 points in the SWITCH to earn the No. 3 seed heading into the STEAL.
Should Talon advance, they would play the winner of No. 6 Cavs Legion GC and No. 11 Hornets Venom GT on Saturday at 3:45 p.m., followed by the semifinals at 5:15 p.m., and the finals at 5:45 p.m. All games can be followed on the NBA 2K Leagueâs Twitch and YouTube channels.
âThe STEAL is probably the toughest tournament in the 2K League, but the guys are locked in and ready to fight for their season,â said Hawks Talon head coach Ismael âMAELOâ Diaz Tolentino. âWe are looking forward to going out there and proving that we belong amongst the best teams in the league. We were only a game away from clinching a playoff berth and we honestly think we are one of the teams to beat in this tournament.â
Talon owns a 4-4 record in bracket play thus far during the 2024 season over the SLAM and SWITCH opens, going 3-2 over the SLAM and 1-2 over the SWITCH.
The single elimination 3v3 tournament includes all 15 NBA 2K League teams that have not clinched a spot in the 3v3 playoffs, plus one community team from an open qualifier. The final two teams in the STEAL will earn a spot in the 3v3 playoffs beginning next week, with the winner receiving a winner-take-all cash prize.
Latest News
Plaza Hotel & Casino to celebrate summer with Friday night fireworks
The Plaza Hotel & Casino will celebrate the start of every weekend this summer with a live fireworks show Friday nights at 9:15 p.m., beginning May 24 for Memorial Day weekend through Aug. 30 for Labor Day weekend.
Inspired by the fireworks shows at Disneyland, the Plazaâs Welcome to the Weekend Summer Friday Fireworks will light up the sky above downtown Las Vegas and be part of a festive summer block party atmosphere at the propertyâs Carousel Bar and rooftop pool deck.
âThe Plaza is known for its great fireworks on New Yearâs Eve and July 4th, but who says fireworks are only for those holidays?â said Jonathan Jossel, CEO of the Plaza Hotel & Casino. âThis summer, we wanted to celebrate and give a gift to everyone downtown by sharing the excitement and fun of our fireworks shows with them every Friday night.â
âLas Vegas is the worldâs destination because of all the spectacular attractions that are available here,â City of Las Vegas Mayor Carolyn Goodman said. âThe Plaza is adding a new weekly fireworks extravaganza this summer, and everyone is invited to visit downtown Las Vegas and enjoy the show!â
Derek Stevens, CEO and Owner of Circa Resort & Casino said âThe weekly fireworks show will amp up Fremont Streetâs high-energy atmosphere to a new level. Itâs a terrific addition for the entire neighborhood, providing another exciting reason for visitors to come downtown. Huge thanks to Jonathan and the Plaza team for bringing this idea to life. Weâll definitely be enjoying the show every week from Circaâs rooftop lounge, Legacy Club.â
The fireworks shot from the Plazaâs towers will be visible to the thousands of tourists and locals in downtown Las Vegas as well as for miles beyond. Plaza hotel guests will be able to enjoy the fireworks from an exclusive viewing party on its rooftop pool deck where the fireworks will be âignitedâ by a special guest pushing a detonator button on an oversized TNT box.
To attract even more people to stay downtown, the Plaza introduced the only all-inclusive hotel room package starting at $125 per person per night. The package includes bottomless drinks, breakfast and dinner, a free bingo session, waived resort fees, and more. Rooms must be booked online by June 30 for a stay June 1 through July 1.
The Friday night rooftop pool party for hotel guests will feature the Frozen Firecracker, a special red, white, and blue cocktail made with strawberry daiquiri, pina colada, and blue lemonade spiked with Don Q Rum. At Carousel Bar the summer party vibe continues every Friday night with a DJ and the specialty cocktail Watermelon Agua Fresca made with Mi Campo tequila, JĂ€germeister, rose aperitivo, watermelon juice, chamoy, and aloe leaves as a garnish.
âDowntown Las Vegas is already a vibrant, unique, and exciting destination. Our Summer Friday Fireworks paired with our all-inclusive room package and great summertime block party atmosphere at Carousel Bar and the rooftop pool deck will be even more reasons to come downtown this summer,â added Jossel.
The Plazaâs fireworks will be dependent on weather conditions and are subject to change or cancellation.
Latest News
Aviatrix and Vibra Solutions Agree Partnership with Focus on Latin America
Aviatrix, the crash game thatâs changing the way online casinos engage their players, has partnered with platform provider Vibra Solutions in yet another move that expands its reach in Latin America.
Aviatrixâs push into Latin America has really picked up pace over recent months and that continues with this deal.
Vibra Gaming has established itself as a major player in the region since it was founded in 2020 and later with the launch of Vibra Solutions in 2022, its platforms and content aggregation division. Now operators using its platform will be able to offer customers Aviatrix.
âWeâve long admired the fantastic work Vibra Solutions is doing in growing our industry across Latin America via innovative product development,â the Latin America Head of Business Development for Aviatrix, Gabriela Novello, said. âBy working alongside it, weâre able to bring Aviatrix to more players in the region and together write a new chapter in this ongoing growth story.â
âOur commitment to our operator partners is to provide the very best portfolio of games available,â the Chief Commercial Officer for Vibra Solutions, Federico Saini, said. âSome of those we build ourselves but others we onboard via partnerships like this. Aviatrix is one of the most talked about games in the industry at the moment and we couldnât be happier to be able to offer it to online brands via our platform.â
Aviatrixâs has enjoyed considerable success in Latin America since it was launched a little over a year ago including being named Rising Star in Casino at the SBC Awards LatinoAmerica.
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