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Companies Strive to Sate the Worldwide Appeal for Creative Sports Betting Options

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Casinos and gambling have been large markets for many years, but sports betting has been a slow-growing segment; until recently. In large part, the slow growth of sports betting in years past is attributed 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. It started with the landmark Supreme Court ruling in 2018, in which the Court struck down the ban on sports betting. As a result, all states got the option to pursue the legalization of sports betting. Overall, as the legal infrastructure becomes more friendly toward sports betting, specifically in the online space, many companies in the gambling industry are beginning to invest in a wider variety of sports betting options.

According to a report by the Associated Press, companies like DraftKings are making serious strides in developing easy-to-use systems available to the public through partnerships with sports leagues.

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, which is 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.

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FansUnite Entertainment announced breaking news that “their acquisition of McBookie Ltd (McBookie) has emerged from the Coronavirus Pandemic with a strong set of results.

The Scottish-based sportsbook operator was purchased by FansUnite in March 2020 and has delivered a Year over Year increase in Gross Gaming Revenue over the Q2 period of 131%. The majority of that has been delivered by the casino where YOY turnover in Q2 was up 59% from $2.4M CAD to $3.9M CAD, resulting in a gross margin increase of 191%.

“Since acquiring McBookie we have been consistently impressed with their ability to navigate uncertain environments and the global pandemic this past few months has been no exception. During Q2, the team showed an impressive 59% increase in casino betting. Further, the launch of a virtual sports offering in March was timely, delivering turnover in excess of $500,000 CAD and, together with the strong performance of the casino, has compensated for the lack of betting opportunities for customers in traditional sports,” Darius Eghdami, Chairman and CEO of FansUnite Entertainment, said.

With the return of some sports such as the English Premier League, McBookie also grew sportsbook turnover in June by 45% YOY.

“Perhaps the most pleasing aspect of the figures was the way the sportsbook bounced back in June. McBookie is now in a very good position to deliver strong growth once the full complement of sports return in the fall,” Eghdami added.

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“We have used the period of the pandemic to work closely with the FansUnite team to improve our operational and marketing techniques and are now in a really good place to drive the business forward when the Scottish football season is set to return on August 1,” Paul Petrie, Founder and Director of McBookie, said.

Century Casinos reported back in April that its Colorado subsidiaries received approval for three Sports Betting Master Licenses. The licenses were awarded during a special meeting of the Colorado Limited Gaming Control Commission held on 2 April 2020. In addition, the Commission awarded Circa Sports Colorado LLC, the Company’s partner for one of its Master Licenses, with a temporary Internet Sports Betting Operator License. The Commission is moving forward with licensing and will meet the May 1, 2020, legislative launch date deadline. Due to the impact of the pandemic on the sports betting industry, the Company is uncertain of the timeline that the Circa | Sports TM mobile sports betting app will launch.

Boyd Gaming Corporation and FanDuel Group announced last year the debut of FanDuel Sportsbooks at four Boyd Gaming properties: Blue Chip Casino Hotel and Spa in Michigan City, Indiana; Diamond Jo Casino in Dubuque, Iowa; Diamond Jo Casino in Northwood, Iowa; and Belterra Casino Resort in Florence, Indiana. The openings follow the successful debut of the FanDuel Sportsbook at Boyd Gaming’s Valley Forge Casino Resort in King of Prussia, Pennsylvania, in March, as well as the companies’ launch of mobile sports betting across the state of Pennsylvania in July. In the coming months, the two companies also plan to introduce mobile sports products under the FanDuel brand in both Iowa and Indiana, pending the receipt of required regulatory approvals.

“Together, Boyd Gaming and FanDuel Group continue to successfully capitalize on the historic opportunity afforded by the legalization and expansion of sports betting in new states across the country. The FanDuel Sportsbook is off to a great start in Pennsylvania, contributing to solid growth in visitation and profitability at our Valley Forge Casino Resort near Philadelphia. We are confident our partners at FanDuel will deliver excellent results in Iowa and Indiana as well, further expanding Boyd Gaming’s customer base and enhancing our long-term competitive appeal,” Keith Smith, President and Chief Executive Officer of Boyd Gaming, said.

Esports Entertainment Group announced last week that it has signed a definitive agreement to acquire LHE Enterprises Ltd, the holding company of online sportsbook and casino operator Argyll Entertainment AG and its operating subsidiaries. Closing of the acquisition is expected to occur on or before July 31, 2020.

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“Reaching a definitive agreement to complete our first acquisition as a NASDAQ company is a major milestone. Argyll CEO Stuart Tilly and CFO Dan Marks already joined our senior leadership team in June as Corporate Secretary and Chief Financial Officer, respectively. They are a great addition to our organization and will help us build on Argyll’s base of more than 100,000 registered users, placing us in a great position to grow revenue moving forward,” Grant Johnson, CEO of Esports Entertainment Group, said.

Scientific Games Corporation and gaming operator Caesars Entertainment have extended their existing digital sports betting partnership in preparation for the relaunch of the 2020/21 major league sports seasons. The move comes following recent mobile sports wagering launches in Pennsylvania and Indiana and the launch of online casino gaming in Pennsylvania.

“We’re delighted with our partnership with Caesars Entertainment. We’re working side by side, supporting their excellent teams and playing an important role in delivering digital casino and sports betting products to their players across multiple states. Caesars has always been a market leader, well known for delivering superior player experiences in the traditional gaming space. Our scalable technology, complemented with a U.S. player centric experience, enables Caesars to deliver on their service legacy by offering exceptional betting and digital gaming experiences that reach new audiences across key markets,” Jordan Levin, Group CEO, Digital for Scientific Games, said.

Source: FinancialBuzz.com

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Bonus Guardian

Pinnacle Ontario live with CasinoEngine in North America debut

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EveryMatrix has expanded its partnership with tier-1 operator Pinnacle powering its new casino in Ontario, Canada, using CasinoEngine platform technology – the first time its platform solution has gone live in North America. 

The latest agreement builds on the two companies’ previous collaboration that saw EveryMatrix’s CasinoEngine productivity platform power the well-known brand’s global casino offering.

The new launch takes the relationship to North America, marking EveryMatrix’s debut CasinoEngine platform integration in that market.

BonusEngine, EveryMatrix’s cross-vertical bonusing tool will be integrated in the second phase of launch. This will equip Pinnacle Ontario with a host of bonus types as well as AI-powered bonus abuse solution Bonus Guardian.

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BonusEngine is the first of multiple engagement tools from EveryMatrix’s EngageSuite that Pinnacle plans to integrate.

With this comprehensive toolkit at its disposal, and the opportunity to add even more casino products in the future, Pinnacle Ontario can tailor campaigns, segment audiences, and reward players more effectively, creating a world-class digital entertainment experience for its customers.

EveryMatrix has more than 300 global customers and holds North American licences in Ontario, New Jersey, Michigan, West Virginia, Connecticut and Pennsylvania.

Stian Enger Petersen, CEO, Casino, EveryMatrix, said: “This launch marks a key milestone for EveryMatrix as we bring our market-leading CasinoEngine platform to Canada for the first time.

“We’re delighted to expand our partnership with Pinnacle and support their ambitions in Ontario with a powerful combination of platform, content, and engagement tools that are proven to drive success.”

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Prime Skill Games Inc. Official Response to AGCO Press Release

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As CEO of Prime Skill Games Inc., I feel compelled to address recent comments made by the Alcohol and Gaming Commission of Ontario regarding so-called unapproved gambling machines in convenience stores across the province.

Let me be perfectly clear

Our machines are not gambling devices. They are entirely skill-based, fully compliant with the law, and built on the fundamental idea that players are in control. The outcome of every session is determined solely by the player’s ability, not by random chance.

Prime Skill Games is proud to be the only true skill game operating in Ontario today.

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We categorically reject any suggestion that our products fall under the definition of unregulated gambling. Such statements are inaccurate, misleading, and fail to recognize the critical distinction between games of skill and games of chance.

We stand firmly behind the legality of our machines and the integrity of our operations. We will demonstrate this through every available means, whether through legal documentation, expert analysis, or, if necessary, before the courts. We are prepared and unafraid to defend the truth.

To our players, partners, and business community, we want to reassure you that our mission has not changed. We are committed to offering a responsible, transparent, and innovative entertainment experience. We will not be intimidated by broad and baseless accusations, and we will continue to move forward with strength and clarity.

 

Sincerely

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Matt Zamroźniak

Chief Executive Officer

Prime Skill Games Inc.

The post Prime Skill Games Inc. Official Response to AGCO Press Release appeared first on Gaming and Gambling Industry in the Americas.

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LuckyStart Casino Adds New Payment Method

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LuckyStart Casino has announced the addition of a new payment method – Interac – available for all players in Canada, in order to make it easier for their customers to fund their account balance and cash out their winnings quickly.

The brand is aware of the popularity of this payment method amongst Canadian players, and hence, it has decided to add it and enable flexible deposit and withdrawal limits, in order to be considered as the best Interac casino in Canada, especially since the brand is also releasing Interac-exclusive bonuses and promotions.

Furthermore, LuckyStart has announced flexible limits for deposits and withdrawals, to make it easier for players to fund their account balance and cash out their winnings, offering instant approval and same-day processing, which are traits that LuckyStart believes are going to position it as the best Interac casino in Canada.

LuckyStart now supports Interac on the desktop and mobile website, offers exclusive bonuses for Interac bonuses, as well as instant withdrawals, and unrestricted access to their catalog of 5000+ real money games.

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LuckyStart believes there is no better way to celebrate an accomplishment in the online gambling world than by launching new bonuses and promotions. That’s why the brand has released a new welcome bonus package for all players who deposit via Interac, as LuckyStart envisions becoming the best Interac casino in Canada.

This new welcome bonus package available for all Interact deposits rewards players with up to $4800 in free bonus money across their first 4 deposits, along with 400 Free Spins. When compared to the welcome packages offered by other Interact casinos, LuckyStart stands out with the biggest offer currently available.

The post LuckyStart Casino Adds New Payment Method appeared first on Gaming and Gambling Industry in the Americas.

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