Canada

The US continues to sweeten the pot

Published

4 years ago

May 24, 2021

Dmitry Starostenkov, CEO at EvenBet Gaming examines online poker’s prospects stateside

The US has always been associated with manifest destiny, embarking on new regions and making the most of what is there. It seems fitting then that legalised online poker is finding its way across the country, adjusting to different forms of regulation in various states.

Poker is deeply entrenched within American culture, being as symbolic to the country as Mah-jong is for China or Rummy in India. Even so, the US has been without any legitimate means to enjoy the game online for 10 years and there is a real hunger for it now. Despite all this, the estimated number of Americans regularly playing poker in all its forms still reaches 10 million.

As different states become regulated in one guise or another, the game is finally beginning to find its place on people’s computer and smartphone screens. New Jersey, Nevada and Delaware are the most obvious states for an operator to approach from a regulatory point of view. There is also West Virginia, Michigan and Pennsylvania, which are regulating online poker and are likely to join the Multi-State Internet Gaming Agreement.

European Gaming Congress 2024 (Warsaw, Poland)

Unfortunately, high liquidity is always crucial for the game to be interesting for players and with such prohibitive legislation in the majority of states, the game is not going to be as strong as it could be. This is possibly the biggest obstacle operators will face. However, even in these circumstances major operators like PokerStars are already able to get as much as 500 daily active players in one state, and this number is extremely promising.

That being said, differentiation can always help in standing out from the crowd and that is more important than ever when competing against the industry’s big brands. With poker being synonymous with US gambling, differentiating an offering should not be too great of a challenge. Building a strong and reputable offering, including a balanced tournament schedule are key factors for acquiring players and keeping them engaged.

Obviously, many of these issues could be solved with national gambling regulation, but that is unlikely to be a possibility, certainly not in the next two or three years. In fact, the US is so diverse with respect to state legislation that a national gambling regulation of any kind may simply not be feasible on any timeline.

The current federal government policy is to keep online gaming regulation at the states’ level, so the best outcome we can hope for now is that more states will introduce poker regulation and join the multi-state agreement. However, operators should keep in mind that they will still need to go through licensing in each state separately.

These issues pale in comparison to the sheer potential of the states, however. There is not a country in the world that can compete with the US for the technological infrastructure needed to roll out online poker at scale. The vast majority of US citizens own some form of smartphone. As well as that, for various reasons, desktop gaming is still hugely appealing to customers in the states. As a result of this, I expect that the mobile share will grow, but at a much slower pace than in Asia or South America.

Of course, all this development is promising, but player safety still needs to be a priority. With the current compliance and regulation policies, poker customers in the US are going to be well protected if they play at the legal operators’ websites. The main risk factor that we can foresee is the growth of scam websites passing themselves off as licensed operators. As online gaming gains momentum, monitoring all such activity becomes far more difficult, so players should be careful.

Responsibly enjoying poker, whether offline or online, has always been a special pastime in the US. That explains the initial online poker boom that started in the US and why operators flourish in every state where online poker becomes regulated. Without wanting to sound too optimistic, I hope to see this happening a lot more.

British Columbia Lottery Corporation

BCLC to Open Retail PROLINE Sportsbook Lounges at Two Casinos

Published

1 day ago

February 3, 2025

GamingAmericas.com

bclc-to-open-retail-proline-sportsbook-lounges-at-two-casinos

The British Columbia Lottery Corporation (BCLC) is expanding its retail sportsbook offerings by opening two new PROLINE sportsbook lounges in the coming weeks.

Chances Casino Kelowna will host B.C.’s first in-person sportsbook lounge when the Chances Kelowna PROLINE Sportsbook Lounge opens for a sneak peek on Super Bowl Sunday before opening to the public the next day, on Monday, Feb. 10. The lounge will feature a massive 25-foot screen as well as food and drink and PROLINE betting.

BCLC will then open the province’s second in-person sportsbook lounge at Parq Casino in Vancouver in March.

A spokesperson from the crown corporation said that “the lounges offer something for sports lovers and sports bettors alike, including a best-in-class sports viewing experience and sports-betting terminals offering a full suite of competitive and live odds.”

“The sportsbook lounge is not just for sports betting, it is a go-to viewing destination for both regular gamedays and, for the biggest sporting events of the year, where B.C. sports fans and sports bettors can watch their favourite teams together, the home of the home team.”

BCLC has plans to introduce future sportsbook lounges at other casinos around the province.

Lounges will showcase BCLC’s modernized sportsbook

The two sportsbook lounges will be major showcases for BCLC’s expanded and revamped PROLINE, which it unveiled last fall on the eve of the NFL season. PROLINE replaced the Sports Action sportsbook that BCLC shut down last May after 33 years.

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Blanka Homor

Playson Signs Agreement with Light & Wonder in Global Distribution Deal

Published

4 days ago

January 31, 2025

GamingAmericas.com

playson-signs-agreement-with-light-&-wonder-in-global-distribution-deal

Playson, the accomplished digital entertainment supplier, has forged a major global content deal with Light & Wonder to significantly enhance the reach of its extensive games portfolio.

This landmark agreement will enable Light & Wonder’s expansive operator network across the UK, Canada, and Latin America to gain access to Playson’s engaging offering.

UK-based operator Dazzletag Entertainment Ltd was the first to go live with the studio’s creative releases last month, with SUPERCHARGED CLOVERS: HOLD AND WIN and 3 POTS RICHES: HOLD AND WIN launched across its online casino brands.

Light & Wonder’s content marketplace is utilised by some of the biggest operator brands from across the globe, providing them with access to more than 3500 games from a host of third-party studios to allow them to build personalised, mobile-ready player experiences and stay ahead of regulatory changes.

The partnership signifies the strength of Playson’s reputation as a respected and highly sought-after provider to operators globally, as the rising demand for its games looks set to take the studio to new heights for 2025.

Blanka Homor, Sales Director at Playson, said: “Our deal with Light & Wonder is a major milestone in our strategic roadmap, as we embark on the next chapter of our global growth. This agreement expands our reach and allows us to deliver our appealing titles to new operators and players.

“The launch of our titles across Dazzletag’s two brands is a great start, and we are confident this relationship will further elevate our presence in the ever-evolving online casino space.”

Steve Mayes, Senior Director of Partnerships at Light & Wonder, said: “We are delighted to be working with such a highly respected digital entertainment provider and deliver their portfolio to our network. This strengthens our commitment to offering operators the best game releases available.

“We look forward to other successful launches in 2025, as we continue to support our operators with diverse content.”

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Bragg Gaming Group

Bragg Gaming Announces Preliminary Unaudited Results for the Year Ended December 31, 2024 and 2025 Strategic Initiatives and Guidance

Published

4 days ago

January 31, 2025

GamingAmericas.com

bragg-gaming-announces-preliminary-unaudited-results-for-the-year-ended-december-31,-2024-and-2025-strategic-initiatives-and-guidance

Bragg Gaming Group announced its preliminary unaudited results for the year ended December 31, 2024 based on information currently available to management and certain strategic initiatives and issued financial guidance for 2025, highlighting anticipated double-digit growth in Revenue and Adjusted EBITDA driven by a strategic focus on proprietary and exclusive content.

Anticipated Full Year 2024 Results Highlights

The Company expects the financial results for full year 2024 to include the following highlights: Revenue not less than EUR 102 million, an increase of 9% from EUR 93.5 million for 2023, Adjusted EBITDA of not less than EUR 15.4 million, an increase of 1% from EUR 15.2 million for 2023.

Anticipated Financial Highlights for 2025

Revenue Guidance: Revenue for the year ended December 31, 2025, is expected to reach between EUR 117.5 million and EUR 123.0 million, representing double digit growth compared to the Company’s anticipated 2024 revenue.

Adjusted EBITDA Guidance: Adjusted EBITDA is forecasted to range between EUR 19.0 million and EUR 21.5 million, supported by a shift toward higher-margin product offerings.

Strategic Business Drivers

The Company is expecting to realize its anticipated 2025 results in part, as a result of certain strategic initiatives, including:

• Shift in Revenue Concentration: The percentage of revenue from the Company’s proprietary and exclusive content business is expected to increase providing a more margin-accretive mix and improving profitability with reduced reliance on third party content revenue by year end.

• Growth in Key Markets: Content-focused products, including proprietary, exclusive and aggregated content are projected to drive significant revenue growth in North America and Brazil, which are expected to contribute up to 10% and 15% of revenue, respectively by year-end.

• Brazil’s Growth Potential: The Company believes that its proprietary and exclusive content and aggregation businesses are strategically positioned to capture a significant share of Brazil’s $1.5 billion iGaming market, projected to more than double to over $3.3 billion by 2029, according to H2 Gambling Capital.

• US Market Penetration: The Company believes that it is strategically positioned for significant growth in the US market by leveraging its proprietary and exclusive content portfolio. Through integration with top-tier operators such as DraftKings, FanDuel, Rush Street, Caesars and BetMGM, and licenses in all key iGaming states, the Company’s content is accessible to over 90% of the US iGaming market, valued at over $9.5 billion, according to H2 Gambling Capital. Under the leadership of Neill Whyte, Chief Commercial Officer, and Garrick Morris, SVP (Commercial, US & Canada), veterans of the iGaming industry with multi-decade successful market penetration experience under their belt, the Company has strong leadership to garner enhanced market share. It is expected that proprietary and exclusive content growth in the US will be further driven by the recently announced technology and content partnership with Caesars Entertainment Inc. This partnership, which leverages the Company’s cutting-edge technology and innovative development strengthens the Company’s profile in a competitive and dynamic market.

• Stronger Penetration in Major European Markets: Bragg aims to expand content distribution in key Western European markets, including Italy, UK, Spain, and Sweden, by leveraging existing integrations with top operators and implementing targeted sales strategies.

• Expand Exclusive Partnerships: The Company plans to increase its roster of partner studios to enhance the release cadence of titles in North America. Additionally, Bragg aims to grow exclusive content distribution in Central European markets, including the Czech Republic and Germany, through strategic partnerships with studios such as Gamomat and King Show Games.

• Stability in PAM Business: The Company’s PAM business is expected to remain flat year-over-year, an overall positive, despite the anticipated contraction of the Netherlands market in 2025 due to regulatory changes made in the fourth quarter of 2024.

• Enhanced Technology Profile: The Company continues to innovate with technologies such as FUZE, which provides bonuses, free rounds, tournaments, jackpots, recommendation engine and other engagement and promotional tools seamlessly across all iGaming, Sportbetting and iLottery products, requiring no additional integration. These advanced features enhance player experience and contribute to the growth of the Company’s product portfolio revenue.

• Data and AI Enhancements: By leveraging extensive gaming data, the Company generates actionable insights and employs AI-driven optimizations to elevate player experiences and enhance operator profitability, thereby accelerating profitable growth in proprietary and exclusive content verticals. Opportunities to leverage AI to reduce costs and enhance product margins are also being actively explored.

• Pipeline Opportunities: A robust pipeline of opportunities is under development, which, if realized, could further enhance 2025 performance but are not yet reflected in the current guidance.

• Stock Appreciation Rights Plan: Bragg has also introduced a new Stock Appreciation Rights (SAR) plan for its executive management team, further aligning management interests with those of shareholders. The SAR plan has been implemented under the Company’s Amended and Restated Omnibus Equity Incentive Plan and pays out only if the Company’s share price increases over a three-year period, with a full payout contingent on achieving a four-fold increase from a base price of $5 CAD. This structure ensures that executive compensation is firmly tied to delivering significant shareholder value. Additionally, the plan includes accelerated vesting provisions in the event of a change of control, preserving alignment with shareholder interests in all value-creation scenarios. SAR award payouts may be settled through the payment of cash, the issuance of shares, or through a combination of both, subject to the discretion of the Company’s Board and availability of shares under the Company’s equity incentive plan at the time.

“I am pleased with where we believe 2024 results will land and very excited about the strong growth trajectory outlined in our 2025 guidance. Our strategic investments in proprietary and exclusive content as well as various Data, Player journey and AI enhanced engagement features, are expected to drive our growth in 2025. By focusing on margin-accretive products, we are well-positioned to boost both revenue and profitability while pursuing opportunities in key markets such as Brazil and the United States. Our PAM product remains a top-tier performer, and while our 2025 growth will largely come from the content side of the business, we have exciting prospects to expand our PAM offering. Additionally, I’m particularly proud of the strong executive team that we have assembled at Bragg this past year. The recently announced Caesars deal highlights their impressive capabilities,” said Matevž Mazij, CEO of Bragg.

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