Connect with us

Press Release

Gradual Re-Introduction of Professional Sports is a Boon for the Betting Industry

Published

on

VSiN to Deliver the Industry's Most Comprehensive "Big Game" Sports Betting Programming

 

Casinos and gambling have been large markets for many years, but sports betting has a been a slow growing segment; until recently. The slow growth of sports betting in years past is, in large part, attributable to numerous legal restrictions across most states as well as a lack of access due to insufficient technological infrastructure. Now, the sports betting market is changing and growing rapidly. For example, after an agreement between Caesars Entertainment and Disney-owned ESPN, which made Caesars, through its sports betting partner, William Hill, a co-exclusive partner for gambling link-outs from ESPN, Caesars Entertainment CEO Tom Reeg expressed a positive outlook for the market. “We think there’s a lot of money to be made here over time, and we’re seeing a lot of interest from non-gaming operators… We have not seen a growth opportunity in this space in quite some time, so it’s an adjustment for analysts to look at a hyper-growth piece of a business that has been mature… We’re in the very early stages of legalization of sports betting,” Tom Reeg explained according to CNBC. FansUnite Entertainment Inc., Caesars Entertainment, Inc., MGM Resorts International, Wynn Resorts, Limited, DraftKings Inc.

As the legal system slowly becomes more friendly towards online sports betting, states around the country look towards the young and growing industry to raise tax revenue. Recently, the advancement of sports betting in Illinois took place, vastly expanding the mobile wagering options available to the state’s 12.7 million residents. Furthermore, data from Odds.com and published by Forbes showed that Illinois is 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 levied on gaming revenue could see this number rapidly increase once measures to allow online and mobile offerings are put in place.

FansUnite Entertainment Inc. announced earlier last week that, “McBookie Ltd (“McBookie”) has continued its impressive performance since becoming part of FansUnite.

The Scottish based operator increased its overall year-over-year (“YOY”) turnover for the months of July and August by 108% – from $3M CAD to $6.3M CAD, with 78% of the turnover growth led by the return of sport.

The increase resulted in a YOY increase in Gross Gaming Revenue over the same period of 412%, resulting in gross gaming revenue of $371K for July and August 2020 and a gross margin of $161K. During the same period last year the platform generated $72K in gross gaming revenue resulting in a gross margin loss of $66K.

With the strong results over the last two months, McBookie is preparing to continue the positive trend with the return of the English Premier League and the other major European leagues in the coming weeks.

‘We are very pleased that McBookie has been able to continue its strong 2020 performance despite the slowdown in sports betting from the global pandemic,’ said Scott Burton, CEO of FansUnite. ‘The figures for the past 60 days have been exceptional and continue to validate our belief in this leading B2C betting brand and the management team behind it. For the duration of 2020, major European leagues are set to begin again and present a great opportunity for McBookie to capture the attention of new and existing customers. We will work directly with McBookie in ensuring their presence in the U.K. expands and they are in a position to service this growing user base of bettors.’

‘The team at FansUnite has worked very hard to improve all aspects of our business since joining FansUnite and it is great to see that replicated in the numbers,’ said Paul Petrie, founder and Director of McBookie. ‘With just one month to wait until the whole of Scottish football is back, having the resources and expertise of FansUnite helps puts us in an excellent position to continue building on our recent success.’

While the return of sport has provided an uptick in betting volume, casino turnover during the two-month period was strong as well with $3.1M wagered. McBookie will be looking to build on these numbers with the recent launch of a Live Casino product earlier this month.

‘After launching a successful Virtual Sports betting offering in March, we decided to expand our platform with the addition of a Live Casino,’ continued Paul Petrie. ‘It represents another betting alternative for our loyal customers and helps us diversify our revenue stream.'”

SOURCE FinancialBuzz.com

Central America

NOVOMATIC will lead innovation at the 25th GAT Expo in Cartagena

Published

on

NOVOMATIC will lead innovation at the 25th GAT Expo in Cartagena

 

Hotel Las Americas is preparing to witness one of the most important events in the industry from April 9-11, when the GAT Expo opens its doors in one of the world’s paradisiacal destinations. As a platinum sponsor of the event, NOVOMATIC Gaming Colombia and executives of Group subsidiaries in Ecuador and Peru promise a first-class product portfolio where style, functionality, and design blend seamlessly.

Strategically located at the main entrance of the exhibition center, NOVOMATIC will be the epicenter of innovation and entertainment with its exclusive BLACK EDITION II series of cabinets combined with the new state-of-the-art Linked Progressive Jackpots: BLACK EDITION II 3.32 with NOVO LINE™ GOLDEN LINK™ Edition 1, the MASTER SL™ 3.32 with Superia GOLDEN LINK™ Volume 1 and the BLACK EDITION II 3.27 with IMPERA LINK™ Series 2.

NOVOMATIC will also be presenting the renowned DIAMOND X™ 2.32 in an elegant Black Metro finish with the Linked Progressive CASH CONNECTION™ Edition 4. Also on display will be the FUNMASTER 2.27 cabinet, known in the region for its exceptional price-performance ratio, showcased in combination with the Linked Progressive Superia GOLDEN LINK™ Volume 1 and the new NOVO LINE™ Interactive Edition X4 multi-game library.

Biometric technology improves the management of gaming arcades

Another highlight will be the innovative NOVOVISION™ management system. Launched with great success at the last event, this solution will once again impress visitors with its state-of-the-art gaming floor management and administration features, as well as its revolutionary biometric access and payment solutions. One more product showcase will be the 5-seat Optimum Roulette, designed with a compact approach to maximize entertainment on any floor without compromising the gaming experience.

“GAT Expo is celebrating its 25th anniversary and the event is a milestone in the Colombian market. We are very proud of the journey we have traveled so far, and we could not miss the opportunity to accompany the GAT team in this special edition,” says Manuel Del Sol, CEO of NOVOMATIC Gaming Colombia. “At NOVOMATIC we believe in building and improving the industry as a whole and that is why we actively participate in the trade shows. I take this opportunity to invite all operators and business partners to visit us at booth #A25!”

Don’t miss this unique experience at GAT Expo at Hotel Las Americas in Cartagena de Indias, where innovation and excitement come together to shape the future of gaming entertainment – book your appointments and join us from April 9-11, 2024!

Continue Reading

Latest News

BETR ADDS $15 MILLION IN STRATEGIC EQUITY FINANCING TO FURTHER ACCELERATE ITS SPORTS GAMING AND MEDIA BUSINESSES

Published

on

BETR ADDS $15 MILLION IN STRATEGIC EQUITY FINANCING TO FURTHER ACCELERATE ITS SPORTS GAMING AND MEDIA BUSINESSES

 

Betr Holdings, Inc. (“Betr”) announced it has closed $15 million in strategic equity financing from a premier group of investors at a $375 million valuation, bringing its total funding to date to $100 million. The round was co-led by Harmony Partners and 10x Capital, with participation from the company’s three largest existing investors: Fuel Venture Capital, Aliya Capital Partners, and Roger Ehrenberg/Eberg Capital, alongside others. This round of financing comes off a highly successful 2023 for Betr, where the company reached a significant level of scale – both with respect to paying users and revenue – while doing so efficiently and profitably.

Betr recently announced market access expansion plans for its Online Sportsbook product, having secured market access in Pennsylvania, Ohio, Virginia, Indiana, Colorado, and Kentucky, as well as the upcoming launch of its Casino product (pending regulatory approval), with the company also securing iGaming market access in Pennsylvania. Betr has also officially received its temporary Indiana sports wagering license from the Indiana Gaming Commission in recent weeks.

Betr also recently announced that it has fortified its senior leadership team, hiring Dan Maas as Head of Media Revenue, Partnerships, and Strategy and hiring Andrew Winchell as Head of Government Affairs. Dan joins Betr from Wave Sports & Entertainment, where he worked his way up from VP of Partnerships to EVP of Commercial and oversaw the development and monetization of highly successful premium franchises, including New Heights with Travis and Jason Kelce and Podcast P with Paul George, in addition to leading the monetization of their successful original short form video focused social media content strategy, which are both highly synergistic to the core pillars of Betr Media. Dan will lead monetization efforts for Betr Media, positioning Betr’s media arm to become a large bona fide revenue-generating business – in addition to the primary benefit Betr Media serves, which is to create unfair customer acquisition economics for Betr Gaming. Andrew joins Betr from FanDuel, where he served as their Directory of Regulatory Affairs. Andrew brings a breadth of experience working closely with state regulators and political leaders on key issues pertaining to sports gaming and will meaningfully strengthen Betr’s internal government and regulatory affairs capabilities as the company scales in size and launches in new jurisdictions.

“We are thrilled to announce our strategic equity financing, new members of our senior leadership team, and the approval of our temporary Indiana sports wagering license,” said Joey Levy, Founder and CEO of Betr. “Jake (Paul) and I co-founded Betr just over two years ago, so raising capital from leading growth stage investors at a $375 million valuation in the very early days of our business is a testament to the performance of the team and business to date, and the potential we have to build a category defining business with Betr. Finally, I want to thank the Indiana Gaming Commission for the honor and privilege of a sports wagering license in the Hoosier state. We are excited to launch our new V1 Sportsbook product in Indiana over the coming months, while bringing our best-in-class responsible gaming standards to the state.”

Harmony Partners is a leading growth investor funding breakout emerging companies led by Mark Lotke, who led the software group at FTV Capital, led the pre-IPO group at Internet Capital Group, and prior to that was at General Atlantic. 10X Capital is a prolific venture capital firm led by co-founders Hans Thomas and David Weisburd having invested in companies including 23andMe, Palantir, Robinhood, and Udemy. 10X Capital was a significant investor in DraftKings going back to July 2018.

“We believe that Betr has the product, management and market opportunity that we saw in DraftKings in its early days with a significantly larger TAM and room for growth today,” said David Weisburd, Co-Founder and Head of Venture Capital at 10x Capital.

Continue Reading

Gambling in the USA

PlayStar partners with Enteractive for reactivation campaigns

Published

on

PlayStar partners with Enteractive for reactivation campaigns

 

Enteractive, the leader in player conversion and reactivation services, has been engaged by PlayStar, the community-focused online casino that’s currently making waves across the U.S, to support their existing CRM services with bespoke reactivation campaigns aimed at winning back players from lapsed accounts for the sports betting brand.

At the core of the partnership, Enteractive will run activation projects for PlayStar’s brand, focusing on both activation of registered non-funded player accounts and reactivation campaigns to bring back lapsed players.

Jon Bowden, PlayStar CMO, commented, “We are thrilled to partner with Enteractive and their innovative approach to player engagement. The team’s expertise in both conversion and  reactivation campaigns will help us maximise our NGR and enhance the player experience for audiences.”

Enteractive is the industry leader in player conversion and reactivation with 15 years experience talking one-on-one with millions of players around the world, having formed in 2008, and is recognised as one of the top revenue generators globally for the iGaming sector.

Enteractive’s proprietary (Re)Activation Cloud technology platform allows a fast and seamless integration of selected player databases, with native-speaking sales agents able to engage with players in each market with real-human one-to-one outreach by phone.

Andrew Foster, Enteractive CBO, added, “Our primary goal is to facilitate direct communication between iGaming companies and their players using genuine one-on-one interactions. With the aid of our highly skilled team of local U.S. call agents, we are certain that PlayStar can increase their results in player conversions and reactivations.”

Enteractive’s native-speaking call agents support iGaming brands across every time zone. In the last year, Enteractive engaged with over 8.1million players, generating over €59 million for global operators, from almost €263million in deposits.

Foster concluded, “Brands that wish to improve their players’ experience and boost financial gains at the same time will find Enteractive’s sustainable, personalized approach the secret sauce they’ve been looking for!”

With native speaking call agents supporting iGaming brands across the globe, Enteractive converts more than 18,000 players per month for a variety of leading operators.

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.