Canada
Improving Accessibility Helps Grow the Sports Betting Market
The legal battle for online sports betting has been a subject of debate for many years. But, in 2008, the online betting enthusiasts received positive news. New Jersey won a landmark ruling from the Supreme Court that potentially opened the door to multiple states being able to legalize betting on college and professional sports. Justice Samuel Alito, a New Jersey native, wrote the court’s opinion in the case. “Congress can regulate sports gambling directly, but if it elects not to do so, each state is free to act on its own,” Alito said according to an article by USA Today. “Our job is to interpret the law Congress has enacted and decide whether it is consistent with the Constitution.” Even though strict regulations by various governments are still an obstacle for the online market, according to a Zion Market Research report, the global sports betting market was valued at around USD 104.31 Billion in 2017 and is expected to reach approximately USD 155.49 Billion by 2024 while growing at a healthy CAGR of 8.83% between 2018 to 2024. FansUnite Entertainment Inc. (OTC: FUNFF) (CSE: FANS), Century Casinos, Inc. (NASDAQ: CNTY), Esports Entertainment Group, Inc. (NASDAQ: GMBL), International Game Technology PLC (NYSE: IGT), Boyd Gaming Corporation (NYSE: BYD)
As the legal infrastructure becomes more friendly towards sports betting, specifically in the online space, many companies in the gambling industry are investing in offering more 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. For example, The National Basketball Association and DraftKings had announced a multiyear partnership that will make DraftKings an authorized sports betting operator of the league. And, according to a report by MarketWatch, many have invested money into a new exchange-traded fund that tracks the sports betting and online gambling industries. This represents a “remarkable vote of confidence for a fund that’s only a few days old,” said Dave Nadig, a longtime industry veteran now at ETF Database. “I am a fan of this fund. If you believe online sports betting is the next big thing, this fund will capture everything from back-office infrastructure to front-facing retail plays.”
FansUnite Entertainment Inc. (OTC: FUNFF) (CSE: FANS) announced yesterday the, “acquisition target Askott Entertainment Inc. (“Askott”) has completed its second video game themed casino game ‘Crash Heist’. After the successful launch of ‘Loothunter’, Askott is ready to offer its second game in what will be a series of video game and esports themed casino games for online sportsbooks and casinos to offer.
RNG/casino games represent a large piece of the online real money gaming industry. Many sportsbooks offer casino games and with the recent COVID-19 pandemic, the importance of having such games has been magnified. Askott is developing games that will appeal to a broader target market that includes a growing younger demographic along with traditional gamers.
‘We currently offer a betting solution for esports books and wanted to add RNG casino games to round out our partners’ betting offering to their customers,’ said Scott Burton, CEO of Askott Entertainment. ‘These additional offerings will result in more engagement from bettors and higher retention on our platforms. Without the need for live esports events, these games can be played 24/7 by our players allowing for more consistent betting and predictable revenue.’
‘As a leading developer of casino style games, we have now developed two games that can be leveraged on various platforms. Our partners will now be able to access our full suite of games, and other operators can license these games as stand alone products for their customers.’
The Askott suite of games will be a mix of pure chance games in addition to games that will combine some skill elements. ‘Loothunter’ was modeled on the popular loot case concept used in video games whereby you buy a key for a case and hope to get an item/reward greater than the price of the key. The game also allows you to earn key fragments for free to build out a key.
The Crash Heist concept has the users breaking into a bank vault for an entry fee of their choice. Once in the vault, their money rises steadily until they exit. If they get out of the vault before the police arrive, the money is theirs, if not they crash out.
‘We look forward to our stage of growth with Askott games where we will target casino aggregator partners that serve as an additional channel to leverage and distribute our games to a much broader audience,’ continued Scott Burton.
All of the games are built on our own certified and tested random number generator with provably fair elements built in and adhering to the gaming jurisdictions where our partners have licenses.”
Century Casinos, Inc. (NASDAQ: CNTY) 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 April 2nd, 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 1st, 2020 legislative launch date deadline. Due to 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.
Esports Entertainment Group, Inc. (NASDAQ: GMBL) announced earlier this month 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 31st, 2020. “Reaching a definitive agreement to complete our first acquisition as a NASDAQ company is a major milestone,” commented Grant Johnson, CEO of Esports Entertainment Group. “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.”
International Game Technology PLC (NYSE: IGT) announced last month that its PlaySports platform will power retail and mobile sports betting at Wild Card Saloon and Sasquatch Casino in Black Hawk, Colo. Owned and operated by privately held gaming company, Ed & Shirley’s Inc., both casinos will leverage IGT PlaySports kiosks, platform and mobile technologies to give their patrons choice and convenience for how, when and where they place sports bets. “Offering omni-channel sports betting via the IGT PlaySports solution will introduce an exciting new dimension of gaming to Wild Card Saloon and Sasquatch Casino that sports fans throughout Colorado are ready to embrace,” said Ed Smith, Ed & Shirley’s Inc. President.
Boyd Gaming Corporation (NYSE: BYD) 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,” said Keith Smith, President and Chief Executive Officer of Boyd Gaming.
SOURCE FinancialBuzz.com
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Calgary Sports and Entertainment Corporation
Play Alberta, CSEC Extend Partnership
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Teams under the Calgary Sports and Entertainment Corporation (CSEC) banner have expanded their long-term partnership with Play Alberta, the provinceâs premier iGaming destination. As part of the agreement, the Flames will feature AGLCâs responsible gambling program, GameSense, on their home helmets and a Play Alberta insignia displayed on their home jerseys. The Stampeders, Wranglers, and Roughnecks will integrate the Play Alberta logo onto their uniforms.
âThereâs significant importance now to showcase meaningful responsible gambling efforts in the iGaming industry. Iâm proud of our initiatives to provide GameSense with such a visible platform. GameSense promotes healthy gambling habits online and in person and including AGLCâs responsible gambling platform over the course of this partnership is a huge accomplishment,â Kandice Machado, Chief Executive Officer at AGLC.
The agreement makes Play Alberta the exclusive sports betting and online gaming partner of the Flames, Wranglers, Stampeders, and Roughnecks. Through the partnership, Play Alberta and CSEC will develop unique partnerships and in-arena giveaways during the season.
âThrough GameSense, our partnership with Play Alberta equips our fans with the knowledge required if they wish to participate in gaming while they support their home team. We are both proud and excited to extend our relationship with Play Alberta that makes cheering for our teams that much more fun while also generating revenue to support the quality of life for Albertans,â said CSEC President and CEO Robert Hayes.
Alberta is the first jurisdiction in North America to partner with professional sports franchises and integrate PlayAlberta.ca and social responsibility branding onto uniforms. It upholds AGLCâs commitment to responsible play, raising awareness of GameSense and Self-Exclusion, resources that give bettors the tools they need to make healthy gambling choices.
In addition, proceeds generated through the website go toward the provinceâs General Revenue Fund. In 2023â24, $235 million was generated for programs and services that Albertans rely on every day through Play Alberta, an increase of more than $42 million from the previous year.
BCLC
BCLC Partners with CFL as Official Sports Betting Partner in British Columbia
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The Canadian Football League (CFL) and British Columbia Lottery Corporation (BCLC) have partnered to make BCLCâs online sportsbook â PlayNow Sports â the official sports betting partner of the 111th Grey Cup. BCLC, the only legal gaming operator in the province, is the newest Authorized Gaming Operator to partner with the league. The partnership builds upon BCLCâs commitment to football in the province â as both a longstanding supporter of the BC Lions and as an enthusiastic proponent of bringing the Grey Cup to Vancouver.
âBCLC is immensely proud to have PlayNow Sports as the official sports betting partner for the 111th Grey Cup. As a social-purpose company, BCLC works every day to generate win-wins for the greater good and serve in the best interests of the communities we call home. Weâre thrilled to help bring together BC Lions and CFL fans from across the country in the spirit of celebration and community at this yearâs Grey Cup Festival,â said Dan Beebe, BCLCâs Chief Operations Officer.
In celebration of Canadaâs largest single-day sporting event returning to B.C. for the first time since 2014, the CFL and BCLC are holding a special contest for fans in B.C., Saskatchewan and Manitoba. The Grand Prize consists of two tickets to the championship game, two Grey Cup Festival passes, travel, accommodation, $500 in PlayNow Sports free bets and more.
âResponsible sports wagering, and the entertainment it provides, is an important part of the future of CFL fandom. Our work with BCLC allows fans to deepen their connection to the league, but more importantly, it strengthens our efforts to support British Columbians and the community through the valued programs and services they rely on every day,â said Tyler Keenan, the CFLâs Chief Revenue Officer.
The CFLâs province-specific Authorized Gaming Operator program works with partners to authenticate and regulate the leagueâs sports betting landscape. In 2023, the league complemented its existing wagering policies and by-laws with an enhanced Match Manipulation Policy. It is highlighted by an annual education component for all full- and part-time CFL personnel, including players, regarding their individual roles and responsibilities in supporting the leagueâs high standards for integrity and responsible gaming practices. All CFL personnel are strictly prohibited from wagering on league activities.
Canada
Goldrush Expands to Ontario with Delasportâs Turnkey Solution
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South Africaâs premium online gaming and entertainment provider, Goldrush Gaming, is expanding to Ontario, Canada, powered by Delasportâs full turnkey solution and managed services. The partnership is another key step in both Delasportâs steady positioning in the key Canadian jurisdiction and Goldrushâs streak of cross-vertical success in iGaming.
The award-winning supplierâs solution is designed to accommodate all Online Sportsbook and Casino needs, and Goldrushâs players in Ontario will soon enjoy the most innovative Casino and Sportsbook features in the industry. These features include player engagement tools such as SuperPot, missions and tournaments, unmatched personalization capabilities with My Sportsbook, My Casino, My Combo, and My Event Builder, Booster Panel for mobile devices, and Hot & Cold Casino game categories, and much more.
âPartnering with established brands such as Goldrush in Ontario is an honor and confirms that weâre on the right track with a third partner in this market, in turn validating our global expansion strategyâ, comments Delasportâs Global Sales Director Reece Calderbank. âIn the hands of partners like Goldrush, the quality and innovation our products provide to customers will enable Goldrushâs talented team to offer the best betting experience in the market to their players.â
Goldrush Online Director Dwain Powell shares this sentiment. âGoldrushâs legacy of premier gaming will offer Canadian players a diverse, rewarding entertainment experience. We are excited to extend our product and services to the Canadian market and believe that Delasport is the perfect partner to achieve our goals â all while bringing customers a unique and memorable gaming productââ.
Goldrush Group Canada is a branch of the esteemed Goldrush Gaming Group, which was established in South Africa over 25 years ago.
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