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GeoComply announces minority investment in Betting Hero

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GeoComply announces minority investment in Betting Hero

 

GeoComply Solutions Inc. today announced it has entered into a definitive agreement with FansUnite Entertainment Inc. (“FansUnite”), FansUnite US Inc. (“FansUS”), and Hero Group Corp. (the “Purchaser”) pursuant to which FansUnite has agreed to sell to the Purchaser all of the issued and outstanding shares of FansUS, which owns and operates the Betting Hero business, for an aggregate purchase price of US$37.5 million, subject to ordinary working capital and cash adjustments (the “Transaction”).

Upon completion of the Transaction, the Purchaser will be controlled 60% by Betting ‎Hero’s co-founders, Jai Maw and Jeremy Jakary (the “Betting Hero Co-Founders”), and ‎‎40% by GeoComply. GeoComply’s investment in the Purchaser will support the Betting Hero Co-Founders to operate and grow the Betting Hero business following the sale of the Betting Hero business to the Purchaser.

“Jai and Jeremy have built a tremendous business with a laser-like vision to support their customers’ mission for the best possible user experience through the sign-up process. At GeoComply we share that vision and are delighted, through this intended investment, to help Betting Hero further their efforts and deploy more resources and focus into serving our customers and their patrons throughout North America,” said Anna Sainsbury, GeoComply’s Co-Founder and CEO.

Betting Hero has operated for six years and is now active in more than 20 regulated gaming states. Its Activation business has converted over 500,000 new users to online sportsbook and iGaming operators, nearly all of whom were betting at a casino, arena, or in the Betting Hero bar network. The Betting Hero Research segment shows that new users activated by ‘Heroes’ are 50% more likely to make a successful first-time deposit, compared to the industry average. Betting Hero and GeoComply intend to work in tandem to develop real-time solutions that will make the online sportsbook and iGaming activation process as seamless as ever.

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Commercial Gaming Revenue Growth Continues in Q3 2024, Driving Industry’s 15th Consecutive Quarter of Growth

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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.

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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.”

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Legendz Social Casino & Sportsbook Officially Launches in 43 States

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Legendz Social Casino & Sportsbook announced its highly anticipated launch, offering players an unparalleled social gaming experience across 43 states in English and Spanish language. With a vast array of games, innovative features, and a player-first philosophy, Legendz is set to redefine the online social and sweepstakes gaming landscape.

Hundreds of Slot Games, Live Table Games, and a Full Sportsbook

Legendz delivers a comprehensive entertainment experience featuring hundreds of fan-favorite slot games and live table games from trusted providers. Sports enthusiasts will be able to make predictions on single teams, totals, player props, parlays, and more —covering over a thousand markets across multiple sports.

“With a full suite of slots, live casino, and sportsbook as well as some unique features that we’ll be rolling out over the next few months, we think our guests will find a social gaming experience they can’t get anywhere else,” said Henrik Persson Ekdahl, Co-founder of Legendz.com.

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Play for Free, Redeem for Real Prizes

At Legendz, anyone over 18 can join the fun and play for free while having the chance to redeem winnings for real prizes. Players receive a free daily reward just for visiting the site each day.

“Legendz is introducing a groundbreaking approach to rewarding loyal users and retaining its players with its unique daily reward slot game. The game will offer a chance to win hundreds of free Sweeps Coins every single day. We’re transforming traditional rewards into an engaging experience, staying true to our core value: delivering entertainment at its finest,” said Managing Director Charlie McMaw.

Highest Return to Player on the Market

With a commitment to a generous, player-first approach, Legendz boasts the highest return to player available in the social gaming industry. Players can enjoy more value for their play ensuring an exciting and rewarding experience every time they use Legendz.

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BetConstruct to Participate at GAT Caribbean Cancún

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BetConstruct has announced their participation at this year’s GAT Caribbean Cancún that takes place in Mexico from November 26-28.

Taking place at the Cancún International Center, the GAT Caribe Cancú is a prestigious event that gathers manufacturers, operators, and marketers to broaden the horizons of the online and land-based markets in Mexico, the Caribbean region, and Central America.

Exhibiting at stand A36, BetConstruct are set to showcase the company’s wide array of Land Based Solutions alongside comprehensive Sports Betting Solutions and Casino Suite. These offerings have the full capabilities and features that are essential for catering to the regional markets and open vast opportunities for both new and entrant operators.

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