Press Releases
Betmakers Technology Group Ltd (BET.AX) Caesars Sportsbook names BET Racing Partner in Nevada
The Board of BetMakers Technology Group Ltd is pleased to announce that the Company has signed a binding Heads of Agreement to become the exclusive provider of Pari-mutuel racing services for Caesars Entertainment Inc’s brick-and-mortar retail sportsbook locations in Nevada (including its properties in Las Vegas) (“Caesars’ Locations”). Caesars Entertainment is the largest casino-entertainment company in the United States and one of the world’s most diversified casino-entertainment providers.
Under the Agreement, the parties have stated a desire for BetMakers to become a racing partner of Caesars in the Americas (i.e. North, Central and South America).
This initial Agreement between BetMakers and William Hill U.S. Holdco Inc; a wholly-owned subsidiary of Caesars, provides the basic commercial principles that will form the basis of the long form agreements that the parties agree to negotiate in good faith over the next 60 days.
Under the long form agreements, BetMakers will provide Caesars with the following services:
– Pari-mutuel tote services: BetMakers’ middleware, to be approved by the applicable gaming regulatory authorities, that enables Caesars’ Locations to connect to the current exclusive pari-mutuel pool operator in the State of Nevada, Las Vegas Dissemination Company, or any other pari-mutuel dissemination company appointed by the State of Nevada to facilitate wagering by customers of Caesars on racing events; and, for States outside of Nevada where BetMakers holds the relevant licence, middleware enabling Caesars’ Locations using the William Hill Liberty platform to connect to BetMakers’ Quantum tote system to facilitate wagering by customers of Caesars on racing events;
and
– Software Services: BetMakers’ pari-mutuel widget and software solutions for embedding into the William Hill Liberty platform and hardware (including terminals) used at Caesars’ Locations to facilitate wagering by customers of Caesars on racing events at its properties in Nevada [and Iowa], (together, Services).
The Agreement allows the parties to commence the integration of BetMakers’ software while long form agreements are negotiated. The parties have agreed that the long form agreements will also provide that:
– BetMakers will provide its Services to Caesars’ Locations for a minimum 5-year term from the earlier of: (i) 31 July 2022 and (ii) the date that the Services to be provided to Caesars’ Locations in Nevada are commercially operational. This initial term will automatically renew for consecutive 2 year periods unless either party provides the other with a minimum of 90 days written notice, before the expiration of the then current term or further term, of its intent not to renew;
– Caesars will pay BetMakers: an initial upfront integration fee; ongoing minimum monthly fees; and a percentage of wagering turnover (net sales) from the Services.
These terms of the Agreement are commercially sensitive and confidential, however, the Board of BetMakers believe the Agreement to be material for the Company;
– in Nevada, BetMakers will provide its Pari-mutuel services exclusively to Caesars until at least December 2022, which may be extended by 6 months if BetMakers is appointed to provide additional totalizator services for a specific location;
– the parties are targeting to submit a proof of concept for certification by mid-February 2022 and to launch the Services in all Caesars locations in Nevada by 30 June 2022; and
– BetMakers is required to get approvals to provide services within each relevant jurisdiction before it can commence providing its Services in that jurisdiction.
David Grolman – SVP Retail at Caesars Digital at Caesars Entertainment, Inc said:
“Caesars is delighted to have reached agreement for BetMakers to be our partner for tote services at our retail sportsbooks in Nevada [and Iowa]. We recently collaborated with BetMakers in providing the technical solution for the NTRA handicapping tournament hosted by Caesars at our Bally’s property in Las Vegas, which was executed seamlessly and delivered perfectly with some challenging timelines.”
BetMakers CEO Todd Buckingham said:
“We look forward to working with Caesars and assisting with the roll-out of BetMakers racing solution on their network of Pari Mutuel locations in [Iowa and] Nevada. BetMakers is especially excited to be in a position to advance the integration of its custom racing wagering technology in the U.S. We strongly believe that racing as a betting product in the U.S. will be a popular part of the total wagering offering, and Caesars are a great brand to be working with to extend this vision. As we have previously indicated to the market, BetMakers sees the U.S. as a sizeable market opportunity to expand our world-leading B2B racing technology products and services, including those that have been highlighted in this announcement. “
Latest News
MAJOR LEAGUE BASEBALL SELECTS SPORTRADAR TO TRANSFORM PLAYER TALENT SCOUTING FOR ALL 30 CLUBS
Sportradar today announced a multiyear agreement with Major League Baseball (MLB) to offer unparalleled sports performance analysis of amateur baseball prospects, through its Synergy Coaching and Scouting solution, to the league and its 30 Clubs. This new partnership will revolutionize player talent scouting through Sportradar’s advanced, proprietary technology and highlights Sportradar’s commitment to delivering innovative and game-changing solutions to the league.
Under the agreement, MLB and its 30 Clubs will gain access to an unprecedented depth of player analysis and insights with event coverage expanding significantly, from 3,300 to more than 20,000 games – an over 600% increase. This includes college, international, professional partner leagues and leading amateur leagues, such as the MLB Draft League, the Appalachian League and MLB Develops events, and, for the first time, top high school events.
The Synergy Coaching and Scouting solution is uniquely positioned to address the player evaluation needs of MLB as it leverages Sportradar’s expertise ingesting and transforming millions of data points from video into detailed metrics, actionable insights and dynamic visualizations. This, combined with Sportradar’s AI-powered sports performance technology, enables Synergy to provide unparalleled, in-depth analysis of every player, play and game situation, and equips MLB and Club scouts with the information and insights they need to streamline the evaluation process, guide draft decisions and support the development of future MLB players.
“Sportradar’s cutting-edge technology, alongside our reputation as a trusted partner to leading US sports leagues, is driving the transformation of sports performance analysis,” said Eduard Blonk, Chief Commercial Officer, Sportradar. “Through Synergy we are pleased that we are expanding our relationship with MLB, equipping them with the deep data and insights they need to identify the next generation of players. We are eager to continue bringing innovative solutions to MLB.”
“We are excited to expand our relationship with Sportradar and ensure equal access to the Synergy video and data services for all 30 MLB Clubs. This platform has become a key resource for Clubs in the domestic and international scouting process and we look forward to continuing our work with Sportradar in the coming years,” said John D’Angelo, MLB’s Sr. Vice President of Amateur and Medical Operations.
Financial reports
Commercial Gaming Revenue Growth Continues in Q3 2024, Driving Industry’s 15th Consecutive Quarter of Growth
U.S. commercial gaming revenue reached $17.71 billion in Q3 2024, the industry’s highest-grossing Q3 on record, according to the American Gaming Association’s (AGA) Commercial Gaming Revenue Tracker. This makes Q3 2024 the industry’s 15th consecutive quarter of annual revenue growth, with September marking the 43rd straight month of rising year-over-year commercial gaming revenue.
Through the first nine months of the year, nationwide commercial gaming revenue stands at $53.24 billion, pacing 8.0 percent ahead of 2023 and putting the industry on track for a fourth straight record revenue year.
In Q3 2024, 29 of the 35 commercial gaming jurisdictions operational last year saw increased year-over-year revenue. This growth resulted in an 8.9 percent year-over-year increase in state and local taxes tied directly to gaming revenue, with commercial gaming operators contributing $3.79 billion in taxes across the quarter.
Quarterly revenue from land-based gaming – encompassing casino slots, table games and retail sports betting – totaled $12.56 billion, 0.62 percent lower than Q3 2023. Meanwhile, combined revenue from online sports betting and iGaming totaled $5.14 billion in Q3 2024 as online gaming made up 29.0 percent of commercial gaming revenue, a significantly higher share than in Q3 2023.
Looking at each sector in Q3 2024:
- Traditional Gaming: Traditional brick-and-mortar casino gaming generated quarterly revenue of $12.38 billion, a contraction of 0.9 percent year-over-year.
- Legal Sports Betting: Americans legally wagered $30.3 billion on sports, generating $3.24 billion in quarterly revenue (+42.4% YoY). Recent market launches in Kentucky, Maine, North Carolina and Vermont contributed to this growth.
- iGaming: iGaming generated $2.08 billion in revenue, marking a 30.3 percent year-over-year increase.
“Q3 2024 continued gaming’s momentum from the first half of the year, with online casino and sports betting driving strong growth. At the same time, new brick-and-mortar casino openings bolstered traditional gaming, which still accounts for the bulk of industry revenue,” said AGA Vice President of Research David Forman. “More than a quarter of commercial revenue now regularly comes from online sources, raising the importance of continued sustainable growth with consumers in those states.”
Popular iGaming content provider BGaming has solidified its market position in Brazil by securing an aggregation deal with Cometa Gaming.
Cometa Gaming is an online casino and sportsbook aggregator with several brands in Brazilian market, all in the regulatory process. The group handpicks the best slot studios in the industry to meet the high standards of its passionate players.
BGaming has initially launched its entire portfolio with Cometa Gaming’s iGaming and sports betting brand Br4bet, including popular titles such as Fruit Million, Burning Chilli X and Space XY. The provider will continue to roll out its games across several of the platform’s other brands over the coming months.
This latest partnership demonstrates BGaming’s growing demand in LatAm ahead of the Brazil’s regulated market launching in January, where it remains committed to delivering a safe, fair and entertaining experience for players.
Gian Carlo Ferrini, Sales Manager at BGaming, said: “Partnering with Cometa Gaming is a major move for BGaming, enabling us to broaden the reach of our award-winning content to LatAm players across its multiple brands. So far, we have enjoyed early success with Br4bet and look forward to launching with Cometa Gaming’s other casino sites in the future.”
Thomaz Campos, COO at Cometa Gaming, said: “BGaming continues to break new ground in Brazil and we are delighted to have them live on Br4bet. Their games will help us achieve our goal of delivering the most appealing and forward-thinking content to players, as we both work towards a shared commitment to excellence.”
BGaming is a fast-growing iGaming content provider converting gambling into gaming. Thanks to an expert team and a player-driven approach, the studio creates innovative and engaging products featured on reputable platforms and 1,600+ online casinos worldwide. BGaming is the world’s first to support cryptocurrencies and offer Provably Fair games. Today the brand’s portfolio includes 150+ products with HD graphics and a clear user interface for every device. The studio is also known for its brand exclusives created in partnerships with leading operators in the industry.
-
Latest News7 days agoBragg Gaming Group Announces Record Third Quarter 2024 Revenue of Eur 26.2 Million (USD 29.3 Million)
-
Latest News3 days agoFull House Resorts Announces New Leadership for Rising Star Casino Resort
-
Latest News3 days agoArizona Department of Gaming Investigation into Illegal Gambling Leads to Record-Breaking Firearms Seizure
-
Latest News7 days agoEvolution Group Announces Partnership Extension with FanDuel Casino
-
eSports4 days agoInfluencers, Content and eSports: Unleashing the Power of Dynamic Strategies in the eSports Ecosystem
-
Latest News7 days agoEVERI STOCKHOLDERS APPROVE ACQUISITION BY APOLLO FUNDS
-
Compliance Updates7 days agoMassachusetts Gaming Commission Launches Official Seal of Approval
-
Latest News4 days agoAmusnet Expands Latin American Presence Through Strategic Partnership with bet365 in Peru