Press Releases
XB Net pens multi-year global distribution deal with Hawthorne Race Course in Chicago
XB Net, the leading provider of premium content for North American horse racing, has agreed to a new distribution deal and a multi-year contract renewal option with Hawthorne Race Course in Chicago, Illinois.
The agreement heralds another milestone partnership in XB Net’s progressive portfolio of content rights, data, odds and signals around one of the United States’ most historic racetracks, particularly as it embarks on a $400 million redevelopment to add sports betting, casino-style gaming and other entertainment amenities to the new Hawthorne Casino & Race Course.
Accordingly, Hawthorne Race Course forms part of a wider network of over 60 North American tracks whose steady stream of rapid-cycling content is proven to increase digital dwell-time for XB Net’s clients and their customers. Moreover, the deal helps to immediately leverage the 50 thoroughbred race-days that comprise Hawthorne’s traditional fall/winter meetings and will build momentum for further fan engagement in 2022 when Hawthorne is the only race track in the Chicago area, which is the third-largest media market in the US.
Elsewhere, Hawthorne’s CDT time zone naturally clocks on for core UK and European racing audiences, generating increased fan engagement at peak leisure times. Its daily schedule of compelling coverage, which neatly complements Europe’s domestic racing action, provides operators with a trustworthy source of rapid-settling betting content from 18:00 CET. This engaging action, which also features regular Harness racing meetings, is proven to retain eyeballs and promote betting activity during competitive digital-entertainment cycles, driving new revenue streams for a wide range of international clients.
XB Net’s definitive end-to-end solution, corralling wide-ranging content that covers approximately 75% of all U.S. racing, opens the door to many of the world’s best-quality courses and most prestigious horse races. Other notable highlights include the Pegasus World Cup, two legs of this summer’s recent Triple Crown (comprising the Preakness and Belmont Stakes) and the season’s flagship finale at the Breeders’ Cup World Championships at Del Mar (5-6 November).
John Walsh, Assistant General Manager at Hawthorne Race Course, said: “This close collaboration with XB Net will expand the international reach and appeal of Illinois thoroughbred racing. The distribution of our content to both mature and emerging markets requires strong partnerships that will showcase the very exciting future of Hawthorne and racing at Chicago’s hometown track.”
Simon Fraser, Senior Vice President of International at XB Net, added: “Securing this long-term partnership with Hawthorne emphasizes XB Net’s dedication to racing and our broader status as the leading international provider of North American racing. This deal is another strong endorsement of our business model and the collective power of our multi-faceted betting services.
“As ever, betting increases the entertainment value from the consumer perspective. However, with XB Net’s fair allocation of capital to where the entertainment value is, we’re seeing the whole Illinois ecosystem improve, returning the value to racing stakeholders, the owners and the racetracks themselves. It’s great to see during a very challenging economic period.
“Our underlying resolve is to support Hawthorne Race Course’s efforts to distribute its horse racing content and wagering on a global scale, now encompassing both fixed-odds (in approved markets) and pari-mutuel betting opportunities. We’re confident these milestone developments can further benefit horse racing’s consumer economy, both at home and abroad.”
XB Net remains the pacesetter for live North American horse racing content, providing rights, betting data, live broadcast and video streaming on behalf of its growing global portfolio of partners. Harnessing low-latency feeds from more than 2,500 meetings, showcasing over 25,000 races per year, North American racing is helping global operators seamlessly adapt to a demanding schedule for live sports.
All-Cash Transaction Unlocks Significant, Unrealized Value for Boyd Shareholders
Boyd, FanDuel Extend Market-Access Agreements through 2038
Boyd Gaming Corporation announced it has entered into a definitive agreement to sell the Company’s 5% equity interest in FanDuel Group to Flutter Entertainment plc for cash consideration of $1.755 billion.
The transaction is expected to close in the third quarter of 2025, subject to regulatory approvals. The Company intends to use net proceeds to reduce debt.
Keith Smith, President and Chief Executive Officer of Boyd, said: “This transaction unlocks the tremendous unrealized value that our investment in FanDuel has created for our Company. As a result, we are in a significantly stronger financial position to continue executing our strategy of investing in our properties, pursuing growth opportunities, returning capital to our shareholders, and maintaining a strong balance sheet.”
In addition to purchasing Boyd’s equity interest in FanDuel, Boyd and FanDuel will terminate certain existing market-access agreements between the parties and enter into new agreements to provide, among other things, for an extended term through 2038. The agreements will also provide Boyd with a fixed fee per state from FanDuel’s mobile sports-betting operations in Iowa, Indiana, Kansas, Louisiana and Pennsylvania, as well as FanDuel’s online casino operations in Pennsylvania, upon the close of this transaction. FanDuel will also continue to operate Boyd’s retail sportsbooks outside of Nevada through mid-2026, after which time Boyd will assume responsibility for these operations.
Under terms of the revised market-access agreements with FanDuel, the Company now expects its Online segment will generate $50 million to $55 million in operating income and Adjusted EBITDAR for the full year 2025, and approximately $30 million in 2026.
Smith added: “The partnership between Boyd and FanDuel has been a remarkable success for both companies. FanDuel has emerged as the nation’s clear leader in online sports-betting, while Boyd has been able to leverage this partnership to profitably participate in the rapid growth of sports betting across the country. It has been a privilege to work with the Flutter and FanDuel teams, and we look forward to supporting FanDuel’s continued growth and success through our market-access agreements across the country.”
Moelis & Company LLC served as exclusive financial advisor to Boyd Gaming on the transaction. Morrison & Foerster LLP served as legal advisor to Boyd Gaming on the transaction, with Brownstein Hyatt Farber Schreck, LLP advising on the commercial agreements.
The three Detroit casinos—MGM Grand Detroit, MotorCity Casino, and Hollywood Casino at Greektown—collectively generated $101.04 million in revenue for June 2025.
Table games and slot machines accounted for $100.38 million of the monthly total, while retail sports betting contributed $665,435.
June 2025 Market Share:
• MGM Grand Detroit: 48%
• MotorCity Casino: 31%
• Hollywood Casino at Greektown: 21%
Table Games and Slot Machine Revenue
Revenue from table games and slots decreased by 4.0% compared with June 2024 and dropped 11% from May 2025. For the first half of 2025 (January 1 – June 30), combined table games and slots revenue was down 0.8% year-over-year.
Casino-specific revenues compared to June 2024 were:
• MGM Grand Detroit: $48.43 million, down 0.6%
• MotorCity Casino: $30.63 million, down 2.7%
• Hollywood Casino at Greektown: $21.32 million, down 12.5%
The three casinos paid $8.1 million in state gaming taxes in June 2025, down from $8.5 million in June 2024. They also submitted $11.9 million in wagering taxes and development agreement payments to the City of Detroit.
Retail Sports Betting Revenue
In June 2025, the casinos reported a combined retail sports betting handle of $7.2 million, generating $666,374 in gross receipts. Qualified adjusted gross receipts (QAGR) from retail sports betting fell 25.1% from June 2024 and 48.1% from May 2025.
QAGR by casino:
• MGM Grand Detroit: $275,397
• MotorCity Casino: $242,069
• Hollywood Casino at Greektown: $147,969
The casinos paid $25,153 in state taxes from retail sports betting revenue and submitted $30,743 in wagering taxes to the City of Detroit.
Fantasy Contests
Fantasy contest operators reported $716,927 in adjusted revenues for May 2025 and paid $60,222 in taxes.
In a landmark corporate transformation, Lottery.com Inc. has officially rebranded as SEGG Media Corporation — Sports Entertainment Gaming Global Media — completing one of the most dynamic turnarounds in recent history. Effective immediately, SEGG Media will begin trading under its new ticker symbol: SEGG.
This milestone marks more than a name change. It signals a definitive close to legacy issues, paving the way for a new era of growth across sports, media and ethical gaming. With the support of shareholders, employees, and strategic partners, SEGG Media is now structurally and financially positioned to emerge as a modern-day global sports and entertainment conglomerate.
Strategic Architecture: One Group, Three Pillars
SEGG Media operates through three distinct yet synergistic verticals:
- Sports.com – The global home of sport: Live immersive streaming, sim racing, football, motorsports, eSports, youth driver programs and athlete-driven content. Sports.com Studios, Sports.com Media, and Nook will operate under the sports vertical;
- Entertainment – The live experience layer: AI-driven event streaming, music media, hybrid entertainment, fashion and fan engagement platforms. Upon completion of the acquisition of DotCom Ventures, Inc., Concerts.com and TicketStub.com will operate under this vertical; and
- Lottery.com – The ethical gaming engine: International lotteries, iGaming, instant wins, sports betting and charity-aligned gaming initiatives. Domestic and global lottery operations, Tinbu, and WinTogether will operate under the gaming vertical.
Together, these pillars form a foundation designed for global expansion, fan engagement and long-term shareholder value creation.
A New Generation Sports & Entertainment Conglomerate
SEGG Media is built for the next generation — a fan-first business model designed to combine immersive media, cash-generative assets and technology-forward experiences. The Company will bring all sports under one roof, while expanding into music, lifestyle, and fashion.
With original content, influencer campaigns, and innovative storytelling documentaries and series produced by Sports.com Studios, SEGG Media aims to redefine how audiences connect with clubs, athletes, teams and leagues. This includes the acquisition and revitalization of trophy assets like football clubs and race teams, unlocking their value through smart structuring, media exposure and global fan penetration.
The Turnaround Journey
Over the last 24 months, SEGG Media has:
- Stabilized operations and balance sheet integrity
- Appointed world-class leadership and advisors
- Expanded into new verticals with asset-backed acquisitions
- Secured a $300M equity line of credit
The rebrand and restructure represent the final act of the turnaround — and the opening act of a global growth story.
“This is a generational moment. SEGG Media isn’t just the end of a chapter — it’s the birth of a next-generation business,” said Matthew McGahan, Chairman of SEGG Media Corporation. “We’re ready to compete with giants, with sharper tech, a youthful fan base and ethical values at the core. To every shareholder who stood with us — thank you. The turnaround is complete. The mission begins now.”
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