Canada

CEO’s of GAN Limited, FansUnite, ESE Entertainment and Penn National Gaming – Leading Global Boom in Online Betting Markets, and Interactive Entertainment

Published

3 years ago

April 15, 2021

Wall Street Reporter, the trusted name in financial news since 1843, has published reports on the latest comments and insights from leaders at: GAN Limited, FansUnite, ESE Entertainment, and Penn National Gaming.

Wall Street Reporter highlights the latest comments from industry thought leaders:

GAN Limited (NASDAQ: GAN) CEO Dermot Smurfit: “On Path To $100 Million Revenue with Online Sports Betting and Casinos”

“..While both the consumer attention and client demand remains focused on sports betting, the real core of the U.S. internet gambling profit opportunity lies inherently within the online casino, which is only unlocked by the mass market appeal of sports betting being a technical and operational capability, we will shortly possess…”

“When you combine online casino gaming with internet poker, and of course, internet sports betting, New Jersey generated in excess of $132 million of gross operating revenue in that single state in the single month of October. This amount would have seemed implausible just two years ago. New Jersey is now on a path where internet gambling revenues could be on a monthly run rate to exceed pre-COVID retail gaming revenues by the end of 2022. I’ll state this again, because it is incredibly important for everyone to understand the magnitude of the structural shift in the retail casino industry. New Jersey’s internet gambling market is on a growth path to exceed pre-COVID monthly retail casino gaming revenues within 18 months, possibly less. This all points to bright line a truth that COVID combined with the advent of internet sports betting and the associated strong cross-sell of sports gamblers into online casino gaming has manifestly altered expected future growth opportunities in this industry for decades to come…Our continuing mission is to bring retail casinos online with our technology platform focused principally on delivering all forms of internet gambling content, including casino gaming and sports betting.”

FansUnite (OTC: FUNFF) (CSE: FANS) “Positioned for Exponential Revenue Growth in iGaming, E-Sports, Online Sports Betting”

In their latest presentation at Wall Street Reporter’s NEXT SUPER STOCK livestream, FansUnite (OTC: FUNFF) (CSE: FANS) CEO Scott Burton, and President Darius Eghdami explained how FUNFF’s latest distribution deal with an online casino games aggregator, sets the stage for exponential revenue growth opportunities. In the next 12 months, FUNFF plans to expand its current line from three games to twelve – while adding multiple aggregators for each game – reaching millions of new online casino customers worldwide. With each game generating as much as $500,000 in revenue per month for FUNFF – per online casino – and the potential to be in hundreds of online casinos – these numbers can quickly add up.

April 14 – FUNNF reports record $28.3M in betting volume and a 136% increase in revenue for its McBookie subsidiary in Q1 2021, compared to same period last year.

March 17 – FUNFF enters into a strategic partnership with TGS Esports Inc. (TGS), a leading esports solutions provider, to launch live esports tournament prediction games. TGS partners with organizations and brands to build and grow their esports communities via tournaments, broadcast production and events.

March 4 – FUNFF applies for UK Gambling licenses, which will unlock its suite of betting products to operators in the U.K. online gambling market and deploy its B2C wagering platforms in the United Kingdom. These applications represent a critical step for FansUnite to expand its operations to the U.K., a jurisdiction that is considered to be one of the largest gambling markets in the world.

February 10 – FUNFF engages the services of Ifrah Law PLLC, a prominent U.S. gaming law firm to collaborate with OneComply Inc. in assisting FansUnite with their U.S. licensing strategy. In response to the interest that FansUnite has received from U.S. gambling and casino operators for their sports betting and iGaming solutions, a founding member of Ifrah Law, Jeff Ifrah, will provide counsel to FansUnite on their rapid expansion strategy across the different U.S. jurisdictions beginning with New Jersey.

ESE Entertainment (TSX.V: ESE) (OTC: ENTEF) CEO Konrad Wasiela: ”E-Sports M&A Pipeline With Over $100 million Annual Revenues”

ESE Entertainment (TSX.V: ESE) (OTC: ENTEF) CEO Konrad Wasiela, a featured presenter at Wall Street Reporter’s NEXT SUPER STOCK investors livestream conference, recently updated investors on his goal of building ESE into a billions dollar global enterprise. Wasiela shared that “ESE now has a growing M&A pipeline with over $100 million annual revenues” and expected to close a significant number of these potential transactions in the coming months. ESE’s stated goal is to build a global E-Sports business with a valuation of $1 Billion+.

In his interview with Wall Street Reporter, ESE CEO Konrad Wasiela, says the company is now ready to scale – expanding its global footprint, with new partnerships with global brands like Porsche, driving revenue growth with aggressive focus on top line sales and margin expansion, and M&A opportunities. ESE is now rapidly expanding, with multiple revenue streams including, E-Sports infrastructure software powering global tournaments, exclusive digital media distribution, broadcast rights, and owning world-class leagues and teams, including it’s K1CK global E-Sports franchise.

April 14 – ENTEF closes acquisition of Esports and gaming infrastructure company, WPG. In 2020, WPG’s assets generated revenue in excess of C$14,000,000. This transaction is anticipated to make ENTEF one of the largest esports infrastructure companies in the world, bridging esports companies with their fans and customers.

March 17 – ENTEF announces launch of Virtual Pitstop, a new business unit dedicated to simulation racing (“sim racing”). Virtual Pitstop will provide technology for video game developers, racing fans, and gamers to engage in motorsport related esports across the globe. ENTEF CEO Konrad Wasiela, commented, “We are excited to announce the expansion of our digital Motorsport business with the launch of the Virtual Pitstop brand. Our past successful partnerships and business collaborations with Porsche, Kia, and Orlen are just the beginning. We see a significant opportunity to implement fast growing technology and monetization via AR/VR, NFTs, skins, and more.”

Penn National Gaming (NASDAQ: PENN) CEO Jay Snowden “Incredibly Optimistic About Barstool Sportsbooks Upside”

“…Highlights from the fourth quarter include the continued momentum we’re seeing for our Barstool Sports book app in Pennsylvania, strong retention, CRM efforts and creative promotions.. have led to an increased handle and market share. And most importantly, highlight our unique and unmatched approach to efficient customer acquisition…On January 22nd, we introduced our Barstool Sportsbook Mobile app in Michigan to very strong demand…Our next launch state will be in Illinois, where we plan to go live prior to March madness, pending regulatory approval. From there, we’ll continue to roll out in new states every three to five weeks or so until we’re operational in 10 or more states by the end of 2021….”

“…Looking forward, we’re anticipating an exciting new year as we continue to introduce Barstool-branded retail and mobile sports books across our portfolio, including brand-new builds at our two properties opening in Pennsylvania during the second half of ’21…We have already seen very strong results from our retail sportsbooks, with our Indiana properties seeing meaningful increases in both gaming and non-gaming revenues following their rebranding at Barstool Sportsbooks. We are incredibly optimistic about the opportunities to unlock further upside as we introduce additional Barstool Sportsbook and sportsbars across the portfolio.”

AGCO

AGCO Requires Ontario Gaming Operators to Stop Offering WBA Bets Due to Integrity Concerns

Published

2 days ago

April 22, 2024

GamingAmericas.com

agco-requires-ontario-gaming-operators-to-stop-offering-wba-bets-due-to-integrity-concerns

The Alcohol and Gaming Commission of Ontario (AGCO) has mandated all Ontario-registered sportsbook operators to halt offering and accepting wagers on World Boxing Association (WBA) events immediately. This measure is being taken to protect the Ontario betting public following concerns that WBA-sanctioned boxing matches are not adequately being safeguarded against match-fixing and insider betting.

Since December 2023, the AGCO has been conducting a comprehensive review of suspicious wagering activity on a WBA-sanctioned title fight between Yoenis Tellez and Livan Navarro that was held in Orlando, Florida. Suspicious betting patterns on the bout lasting over 5.5 rounds were reported to the AGCO by two registered independent integrity monitors and detected in Ontario by a registered igaming operator. Media reports also alleged that Tellez’s Manager placed $110,000 on the match lasting longer than 5.5 rounds at a Florida casino. The bout ended with Tellez knocking out Navarro in the 10th round.

Following an intensive review that included outreach to the WBA, Ontario-registered gaming operators, independent integrity monitors, and regulators in other jurisdictions, the AGCO has concluded that bets related to WBA events do not currently meet the Registrar’s Standards for Internet Gaming.

The AGCO requires all Ontario-registered gaming operators to ensure the sport betting products they offer are on events that are effectively supervised by a sport governing body. At a minimum, the sport governing body must have and enforce codes of conduct that prohibit betting by insiders.

Registered gaming operators were unable to demonstrate to the AGCO that the WBA prohibits betting from insiders, which could include an athlete’s coaches, managers, handlers, athletic trainers, medical professionals, or others with access to non-public information. Further, registered gaming operators were unable to demonstrate that the WBA took any action to investigate or enforce the allegations of potential match-fixing and insider wagering.

The AGCO has indicated to registered operators that in order for WBA betting products to be reinstated in Ontario, operators must demonstrate that the WBA effectively supervises its events, thus bringing them into compliance with the Registrar’s Standards. In December 2022, the AGCO required gaming operators to stop offering bets on UFC events for similar issues related to insider betting safeguards. Within a month, UFC amended its policies and implemented new protocols that allowed the AGCO to reinstate betting on UFC events in the province.

“Ontarians who wish to bet on sporting events need to be confident that those events are fairly run, and that clear integrity safeguards are in place and enforced by an effective sport governing body. Knowing the popularity of boxing in Ontario, we look forward to reinstating betting on WBA events once appropriate safeguards against possible match-fixing and insider betting have been confirmed,” Dr. Karin Schnarr, Registrar and CEO of AGCO, said.

Andrew Cochrane Chief Business Officer of GiG

GiG increases Ontario market presence, powering the launch of Casino Time

Published

6 days ago

April 18, 2024

GamingAmericas.com

gig-increases-ontario-market-presence,-powering-the-launch-of-casino-time

Gaming Innovation Group Inc. (GiG), has announced the launch of Casino Time, powered by its award winning iGaming platform and pioneering real-time rules engine LogicX, with revolutionary sportsbook, SportX soon to follow, to further extend its footprint in the regulated Canadian province of Ontario.

The launch of Casino Time carries extra significance, marking only the second time that on-demand, regulated online Bingo has been made available in Ontario. The new Bingo product vertical, launched alongside a strong Casino offering, will be boosted by GiG’s new sportsbook, SportX, as part of a planned release later this year.

GiG has focused its solutions on driving exponential growth in revenue for operators with its highly scalable iGaming platform, offering localised third party content and leading suppliers for the Ontarian market. GiGs peerless gamification layer creates an optimised and immersive casino experience tailored to regional preferences, swelling client retention and player engagement.

Canadian owned and operated, Casino Time is a joint venture amongst leading retail operators in Ontario’s Charitable Gaming sector, delivering Bingo, Slots and Live Dealer Casino Games. Promising a personalised service and community experience, Casino Time is continuing its long-standing partnership with local charities, introducing its joint fundraising model into the iGaming space for the first time.

Now coming towards the end of its second year of licensed operations, Ontario has emerged as one of the largest iGaming markets in North America, second only to New Jersey according to data supplied by Vixio. The first and as yet only Canadian province to launch a regulated market, Ontario boasts more than 1.6 million active player accounts spread over 40 plus operators, generating €1.3 billion in Gross Gaming Revenue (GGR) in its first year of trading, with this data supplied by iGaming Ontario.

Andrew Cochrane, Chief Business Officer of GiG, said: “GiG continues to set the pace with a strong cadence of brand launches in 2024, and I’m pleased that when operators are seeking platform solutions in regulated markets, GiG is leading the pack. Our partnership with Casino Time, will help deliver something new and exciting to the Ontarian market, and further helps to demonstrate the flexibility of our solutions, adapting to match the regional aspirations of our partners to deliver growth.”

D’Arcy Stuart, CEO of Casino Time, said: “We are thrilled to partner with GiG as the core technology provider of our iGaming platform. Their powerful suite of player engagement tools, as well as diverse content and regulatory integrations, underpin our ability to serve and delight our player community. Our hybrid online and offline customer network, as well as unique bingo offerings, will drive exciting opportunities as the platform and the marketplace continues to grow.”

Bragg Gaming Group

Bragg Gaming Announces Resignation of Chief Financial Officer

Published

2 weeks ago

April 9, 2024

GamingAmericas.com

bragg-gaming-announces-resignation-of-chief-financial-officer

Bragg Gaming Group Inc., a global B2B gaming technology and content provider, announced that Chief Financial Officer (CFO), Ronen Kannor, has notified Bragg’s board of directors (Board) that he will resign from his position to pursue other career opportunities, effective June 3, 2024. The Company confirms that the search for a replacement CFO has commenced.

Matevž Mazij, Chief Executive Officer and Chair of the Board, commented: “We thank Ronen for his dedication and commitment to Bragg over the past four years and for his unwavering service as a pivotal member of the leadership team.

“During his tenure as CFO, the Company has undergone huge positive transformation including being uplisted to the Toronto Stock Exchange, dual listed on the NASDAQ and successfully completing two acquisitions, all while reporting consecutive years of revenue, gross profit and adjusted EBITDA growth. We wish Ronen all the very best in his future endeavors.”

Ronen Kannor commented: “It has been an honor to be part of the Bragg team which has successfully navigated many challenges and continued to deliver consistent growth over the past four years. I thank the Board for their support throughout my time with Bragg, and I am now fully focused on ensuring a smooth handover to my successor.

“Special thanks goes to my finance team, who work tirelessly to deliver the positive change and financial growth that the Company continues to achieve. I wish them and all of my colleagues continued success with Bragg now and in the future.”