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ESPN Bet App Takes in More Money Since Dropping Barstool Brand

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Penn Entertainment Inc. is taking in more wagers from its new ESPN Bet sports-betting app than it did under the jettisoned Barstool brand, according to analysts and data from several states.

In Maryland, mobile wagers on ESPN Bet jumped to $42.4 million in December from $16.4 million under the Barstool name a year ago, according to state results reported last week. That placed Penn third behind industry leaders FanDuel and DraftKings Inc., and ahead of rivals BetMGM and Caesars Entertainment Inc.

In Iowa, Penn generated mobile sports wagers of $18.8 million in December, more than double the $7.2 million in the year-ago period, according to data released by the state last week.

“Preliminary data suggest the book improved on its predecessor’s small market share — and did so during a key seasonal period,” Brian Egger, a senior analyst with Bloomberg Intelligence, said.

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While the ESPN Bet app is off to a fast start, Penn is confronting high costs and entrenched rivals in its quest for a bigger foothold in online gaming.

The casino operator based in Wyomissing, Pennsylvania, originally launched its sports-betting business under the Barstool name, after acquiring the online video and podcast company from sports commentator David Portnoy. After challenges associated with the controversial founder, Penn gave Barstool back to Portnoy and signed a $2 billion deal last year to license Walt Disney Co.’s ESPN brand.

The December numbers follow the strong launch for ESPN Bet on Nov. 14. Penn’s share of sports-betting revenue in November in six states was about 12%, according to Macquarie Group analyst Chad Beynon. That’s up from about 2% for Penn when it used the Barstool name.

“Though still early,” the reports for ESPN Bet are “positive,” Beynon wrote in a Jan. 3 research note. The brand will likely increase betting revenue because it appeals to a wider range of potential customers, including women, he said.

ESPN has been promoting the app on its TV shows, website and other outlets, using the site’s betting odds in stories, for example, rather than other brands.

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BetMGM

Play’n GO announces expansion of BetMGM partnership with Pennsylvania launch

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Swedish gaming giants’ games now live with leading US operator in Michigan, West Virginia, New Jersey, and the Keystone State

Play’n GO, the world’s leading casino entertainment provider, has today announced further expansion of its partnership with leading US operator BetMGM,with the Swedish gaming giant’s content now available with the group in Pennsylvania.

Play’n GO and BetMGM’s US partnership has already proven stunningly successful in Michigan, New Jersey, and West Virginia, and this expansion sees the partnership extend to a fourth US state. Having secured its Pennsylvanian gaming license in March, Play’n GO is now live with two operators in this key state. BetMGM players in Pennsylvania now have access to classic Play’n GO titles, such as Reactoonz.

Play’n GO is now licensed in six US states and is aiming to be active in every regulated market, in the US and around the world.

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Magnus Olsson, Chief Commercial Officer at Play’n GO said: “We’re pleased to expand our partnership with BetMGM into a fourth US state, and look forward to continued success together. We have always been committed to a safe, regulation-led industry to secure a sustainable future for us all. BetMGM share our vision, and so are a perfect partner for us. We will continue our mission of being active in every regulated market around the world, and we’re excited for further growth opportunities well into the future, in the US and beyond.”

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BetMGM

BetMGM Partners with GameCode

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BetMGM has announced a partnership with GameCode, a distinguished iGaming company focused on the North American market. The partnership includes the launch of Boom Boom Boom, HammerCash, Gold Gold Gold and Super3 series which are now live at BetMGM in Michigan and New Jersey through direct integration. BetMGM plans to offer GameCode’s full portfolio of games in all jurisdictions where the operator’s iGaming platform is live pending regulatory approvals.

GameCode’s portfolio of slot titles are built on innovative and one-of-a-kind mechanics. They develop a deep understanding of players’ tastes, and it enables them to develop games that deliver a unique and immersive experience. The initial lineup of titles includes Gold Gold Gold Miners Way, Gold Gold Gold Lions Way, HammerCash, CashPile, Triplestones, and the top performing Boom Boom Boom. Boom Boom Boom is an American-themed 5-reel, 3-row video slot featuring Wild Multipliers and the hold and respin feature on multiple reel sets.

“Boom Boom Boom and other GameCode titles have already proven to be strong performers in their first few weeks of launch at BetMGM. Our mission is to always innovate with in-house, exclusive content with Entain and partners like GameCode to provide our players with an iGaming experience that rises above the rest. This will continue to position us as a destination for players and first choice for suppliers of premium content,” Oliver Bartlett, Vice President of Gaming Product & Content at BetMGM, said.

“At GameCode, we focus on creating good games rather than disposable online gaming content. With experience gained in North American land-based casino, we provide a unique understanding of the market and player needs. We aim to make an impact with each title we release and so far we do so. We innovate at a pace that is difficult to catch up with, providing something new every time we launch a title that players have not seen before. So far, in the states we are live, GameCode’s titles are at the top of the rankings. More is coming,” Matt Hanski, Chief Executive Officer at GameCode, said.

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“I’m excited to announce our launch with BetMGM, introducing advanced online slot games powered by our robust in-house technology. These games are hosted on our state-of-the-art Remote Gaming Server (RGS) which is the backbone of its performance and security. It is a long-term play to develop and maintain a RGS that is designed with multiple layers of protection, ensuring the highest standard of data security and integrity in compliance with U.S. regulations. This launch is a testament to our dedication to providing secure, reliable, and immersive gaming experiences,” Wojciech Ziniewicz, Chief Technology Officer at GameCode, said.

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Adam Greenblatt

Prove Identity Partners with BetMGM

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Prove Identity Inc., the global leader in digital identity, announced a strategic partnership with BetMGM, a sports betting and iGaming leader, to enhance the security and user experience for BetMGM customers through the cutting-edge Prove Pre-Fill identity solution.

Prove Pre-Fill accelerates digital consumer onboarding by up to 79% and is used by more than 1000 businesses globally across diversified industries, including 9 of the top 10 banks. This collaboration marks a significant milestone in Prove’s journey toward providing seamless and secure digital sports betting and casino services in the U.S. states where BetMGM operates, pending regulatory approval.

“BetMGM is an innovator in the space, always looking to find new and compelling ways to improve the online gaming experience. Prove Pre-Fill is the latest example of that and allows customers to get access to the content they desire faster than ever before through the identity verification process, enabling them to take full advantage of BetMGM’s vast product offerings,” Tom Hill, Director of Digital Identity and Head of Sports Betting and iGaming at Prove, said.

“We’re committed to providing customers with a seamless and secure sports betting experience, and our partnership with Prove is a testament to that safe bet. Prove Pre-Fill adds an extra layer of security, reduces sign-up abandonment, and improves the overall user experience by streamlining the identity verification and authentication processes. Users can now enjoy the BetMGM sports betting and casino experience faster and with greater peace of mind,” Adam Greenblatt, CEO of BetMGM, said.

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Key Highlights of the Partnership:

  1. Streamlining User Onboarding: Prove Pre-Fill technology will revolutionize the onboarding process for BetMGM users, minimizing sign-up abandonment rates. By simplifying and expediting account creation, BetMGM aims to provide a frictionless experience from the start.
  2. Preventing Bonus and Promotion Abuse: Prove’s solutions will be crucial in preventing rampant bonus and promotion abuse – for example, using the same bonus code multiple times normally intended for only first-time users – within the BetMGM digital sports betting and casino platforms. This ensures a fair and secure user environment, fostering a trustworthy and enjoyable gaming experience.
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