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Sports Betting Continues to Gain Traction in the United States

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After the landmark Supreme Court ruling in 2018, in which the court struck down the ban on sports betting, any state got the option to pursue legalization. The state of New Jersey was the first to make sports betting legal. Yet, the legal infrastructure of sports betting still remains complex. For example, in each state, online betting companies such as FanDuel and DraftKings have to apply for supplier licenses, and the licensing process varies depending on the state. In addition, after the licensed is granted, these companies must reach agreements with existing land-based casinos for what is called “skins,” which is what eventually gives them the right to operate in each state. For instance, DraftKings made a deal with Caesars last year, which gave it market access in 12 states outside New Jersey, and in the meantime, Caesars received DraftKings equity for the skins access. FansUnite Entertainment Inc. (CSE: FANS), DraftKings Inc. (NASDAQ: DKNG), GAN Limited (NASDAQ: GAN), MGM Resorts International (NYSE: MGM), Caesars Entertainment Corporation (NASDAQ: CZR)

The complexity of the legal infrastructure means that states may have different companies competing for market share. According to an article by CNBC, Richard Carter, CEO of SBTech, explained that “there is no doubt both FanDuel and DraftKings will have large market share… But different states will have different market leaders. You need market access. Some states will be lottery-only. Some states will be limited to tribal gaming. Some states won’t allow FanDuel and DraftKings to use their brands. They’ll have to use the casino brand. There are lots of nuances. You have to take each state as it comes.” More recently, sports betting also started to get traction in California, an enormous potential market for this segment. MarketWatch reported that two California lawmakers recently pitched legalized sports betting as a way to help increase the state budget, which is currently devastated by the economic shutdown designed to slow the spread of the pandemic. California trails 22 other states that have already authorized sports betting.

FansUnite Entertainment Inc. (CSE: FANS) just announced breaking news that it is, “pleased to introduce Mr. Saxon Shadforth, a leading gaming executive.

Mr. Shadforth has over 25 years of global leadership expertise and 15 years experience as an online gambling executive. With a background in commercialization, consumer hardware/software, enterprise software, product strategy and delivery; Saxon has extensive experience managing complex ecosystems required to operate and scale gaming brands in many categories and jurisdictions. Saxon has previously worked at Activo in Montevideo, Uruguay, Yew Tree Services in Manila, Philippines, Riplife Gaming Technologies in Barcelona, Spain and Gateway Inc. in both Sydney, Australia and Denver, Colorado.

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‘We are extremely excited to have an individual of Saxon’s caliber join our board of directors,’ said Darius Eghdami, Chairman and CEO of FansUnite Entertainment. ‘As a fast growing company in the gaming sector, Mr. Shadforth is perfectly equipped to provide us with oversight in a number of growth areas. Having spent the majority of his career working abroad in North America, Europe, Asia and Latin America, Saxon will be integral in expanding our footprint and entering international gaming jurisdictions by leveraging his established network.’

As a veteran in the gaming industry, he has structured and advised on the launch of new platforms across the globe, numerous M&A transactions in both start ups and later stage growth companies, and has managed teams of over 300 people in the gaming industry.

‘I am thrilled to be joining such a great team where I will be able to apply my skill set in helping FansUnite build and grow their platform,” said Saxon. “As a online gambling company, FansUnite is uniquely positioned to consolidate gaming assets globally with a key focus on M&A integration and brand awareness. I am eager to provide my insights and I look forward to assisting FansUnite become a leader in the fast growing gaming market.’

FansUnite expects Mr. Shadforth to add expertise in various areas including: product development, acquisition strategy, and commercialization of brands into global markets to support its continued growth as an emerging gaming leader.”

SOURCE FinancialBuzz.com

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Canada

Play’n GO announces partnership with Canadian operator Loto-Québec

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Play’n GO, the world’s leading casino entertainment provider, has today announced a partnership with Canadian operator Loto-Québec, launching the Swedish gaming giant’s games into another Canadian province.

Already active in another Canadian province , this partnership sees Play’n GO’s content available in the province of Québec exclusively with Loto-Québec, a state-owned corporation, where online players now have access to titles such as Tome of Madness. 

Magnus Olsson, Chief Commercial Officer, Play’n GO said: “At Play’n GO, we have always been clear in our vision to be active in every regulated market in the world, and this partnership with Loto-Québec is the next step on that journey.

“Our past success in Canada gives us confidence that players in Québec will enjoy the best Play’n GO content, and we look forward to many years of success with Loto-Québec in the province.”

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Stéphane Martel, Head of Product and Innovation at Loto-Québec added: “As the sole iGaming operator in Québec, we pride ourselves on offering titles that truly add value to our platform, lotoquebec.com. We are happy to bring Play’n GO games to our players.”

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Canada

Court Decision Upholds iGaming Ontario’s Model

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iGaming Ontario has welcomed the decision of the Ontario Superior Court, which found that iGaming Ontario’s model is consistent with the Criminal Code and that iGaming Ontario is conducting and managing igaming in the province.

“We have always been confident in our model and are pleased that the court has ruled in our favour, and that Ontarians can continue to play with confidence in our regulated igaming market,” said Martha Otton, Executive Director of iGaming Ontario.

“Ontario’s model meets the requirements and contributes to the public good by protecting players, their data and their funds, while helping to fund priority public services in Ontario, and bringing well-paid, high-tech jobs and economic development to Ontario,” Otton added.

In dismissing the application brought forward by the Mohawk Council of Kahnawà:ke (MCK), the Superior Court found that iGaming Ontario is the “operating mind” behind Ontario’s competitive igaming market in accordance with the conduct and manage requirements of the Criminal Code.

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iGaming Ontario will continue to conduct and manage igaming as it has since the launch of the regulated market on April 4, 2022.

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Bragg Gaming Group

Bragg Gaming Appoints Renowned iGaming Executive Neill Whyte as Chief Commercial Officer

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Bragg Gaming Group, a global iGaming technology and content provider, announced that Neill Whyte has been appointed as Chief Commercial Officer (CCO), effective 1st May 2024, establishing a new global commercial structure at the Company and bolstering its leadership team.

Whyte brings over 18 years of experience in the iGaming sector, most recently in the role of Chief Commercial Officer at Digital Gaming Corporation’s (DGC), B2B iGaming Division. After joining DGC in early 2020, he was responsible for the commercially successful launch and growth of its content distribution business in the US.

Prior to joining DGC, Whyte held multiple positions in the gaming industry including as Head of Business Development at Isle of Man-based iGaming specialist Apricot Investments, as Board Member at Swedish iGaming product and Lottery content distributor Genera Networks, and in various senior roles over eleven years at leading iGaming content supplier Microgaming, including as Head of Product Channels.

In his new role with Bragg, Whyte will be tasked with leading the Company’s global commercial teams to drive growth across all of the Company’s product verticals which include proprietary online casino content from its Atomic Slot Lab, Indigo Magic and Wild Streak Gaming studios, exclusive content from content partners, HUB a leading casino content aggregation platform, Fuze player engagement, as well as its award-winning player account management (PAM) platform and turnkey solutions.

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Matevž Mazij, Chief Executive Officer at Bragg, said: “I am very pleased to be announcing today the appointment of Neill Whyte as Chief Commercial Officer at Bragg. His iGaming product and market knowledge, together with his record in driving growth from developing successful and mutually beneficial commercial partnerships are exceptional.

“As we leverage our broad content and product portfolio to grow in existing and new markets, including in the United States, Canada, Latin America and Europe, Neill’s unique combination of knowledge, skills and experience in this sector are a perfect fit for our ambitions at Bragg.”

Neill Whyte, Chief Commercial Officer at Bragg, said: “It’s an honor to join Matevž and the wider teams at Bragg already in place across North America, Europe and in India. I have been impressed with the depth and quality of the content, product and technology offerings at Bragg, and its ability to rapidly adapt, certify and deploy this content and technology in newly regulated markets is a distinct advantage.

“We also have a huge opportunity to grow our footprint with our existing customers in markets in which we are already established. Our content and product roadmaps are second to none, and I’m planning to get on the road in the coming weeks and months to meet the team and our customers and to start building for the next stage of mutual growth. I can’t wait to get going.”

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