Canada
Billionaire Betfred Brothers Boost Gambling Empire’s U.S. Wager
The family behind one of the world’s biggest closely held gambling firms is looking to expand its presence in the US as more states legalize sports betting.
Betfred Group, founded by U.K. brothers Fred and Peter Done, set up 10 companies last year in Nevada to operate in states including Louisiana, Ohio, and South Dakota, where lawmakers took steps this year to permit sports betting, according to registry filings. The siblings are worth about $1.3 billion, with their wealth mostly derived from Betfred, according to the Bloomberg Billionaires Index.
The global gambling industry has increased its focus on the U.S. after the Supreme Court allowed states to legalize gambling on individual sporting events in 2018. Colorado, Pennsylvania, and Iowa – where Betfred already has gaming licenses – are among the roughly two-dozen states that have introduced sports betting in the past three years.
Revenue from U.S. sportsbooks totaled $271.9 million in May, an increase of more than 700% from two years earlier, according to the American Gaming Association.
Betfred “plans to be live in additional states in the future,” the Warrington, England-based company said in its 2020 results, which were released this month.
A Betfred spokesman said the company is planning to open in further U.S. locations by early 2022, subject to securing licensing agreements.
Fred, 78, and Peter, 74, grew up in a poor area of England. As children, the brothers helped their father run a betting business before gambling outlets were legalized in the UK. They set up their own firm more than five decades ago with proceeds from a wager on England winning the 1966 soccer World Cup. Betfred now has more than 1500 outlets across the UK, according to its website.
Betfred and the brothers’ other investments have paid dividends of more than 100 million pounds ($138 million) within the past five years, according to the Bloomberg wealth ranking. Those holdings include an e-gaming business and business services company Peninsula, which the Dones founded in 1983 to help small firms.
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Canada
ComeOn Group adds sportsbook to its offering in Ontario
ComeOn Group announced a significant milestone in its sportsbook expansion journey with the addition of sportsbook to their offering in Ontario following the successful acquisition of the required permits. This addition represents a strategic advancement in the Groups sportsbook growth trajectory where they are set to double its sportsbook business in the coming years.
ComeOn Group is one of 51 active operators in Ontario. The Ontario market has experienced robust growth since its launch, reaching C$6.7 billion in revenue in 2023.* By 2029, the market is forecasted to grow by a total of 29%, with 2024 expected to close with a 20% increase.
ComeOn keeps investing in its sportsbook business acceleration that is powered by its proprietary sportsbook platform and in-house risk management and trading team. As a multi product vertical operator, ComeOn is striving to give its customer base a safe and exciting entertainment destination and this approach is now expanded to their Ontario audience.
Juergen Reutter, Chief Executive Officer at ComeOn Group, said: “We are very excited about the opportunities this new milestone opens up for us. As a casino-led operator it represents a key part of our sportsbook strategy to double our business in the coming years. Like in any of our other markets, we are striving for a differentiated sportsbook entertainment experience that is powered by our in-house technology. Our goal is to deliver top-tier entertainment to our players while fostering safe and innovative gaming experiences.”
*Source – H2GC H2 Ontario Data 25.10.2024 (excl. Lottery)
BCLC
INTRALOT Announces New Project with the British Columbia Lottery Corporation for Online Lottery Platform
INTRALOT S.A. has announced the undertaking of a new project between the British Columbia Lottery Corporation (BCLC), the sole lottery operator for the Government of British Columbia in Canada, and INTRALOT Inc., its US subsidiary, for the provision of an online lottery platform. The project also includes the digitalization of the existing land-based network.
The solution will be based on the Player X platform, part of the Lotos X ecosystem, and adds to the company’s overall partnership with BCLC, which has been extended until 2028.
INTRALOT is a leading player in a changing world of gaming. With significant experience in looking forward and anticipating emerging trends, the company provides future-proof solutions to regulated lottery and gaming operators around the world.
Canada
IAGR announces Toronto as host city for 2025 conference
Hot on the heels of its most attended conference in history, the International Association of Gaming Regulators (IAGR) is excited to announce that its 2025 conference will take place in Toronto, Canada, from October 20 to 23, 2025.
The event will be held in partnership with the Alcohol and Gaming Commission of Ontario (AGCO) at the Westin Harbour Castle, offering stunning waterfront views and a premier, downtown Toronto location.
‘Fresh off the success of our Rome conference, we’re thrilled to continue the momentum with next year’s event in Toronto,’ said Ben Haden, IAGR President.
‘The IAGR 2025 conference promises to be another unparalleled opportunity for our global community to come together, collaborate and shape the future of gaming regulation. We’re looking forward to working with AGCO to bring it all together.’
AGCO CEO and Registrar Dr. Karin Schnarr, added, ‘We’re excited to welcome IAGR and its members to Toronto. This partnership provides a great opportunity to share Ontario’s innovative regulatory practices and foster meaningful discussions that drive positive change in the industry.’
Stay tuned for registration details early next year.
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