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Smarkets raises Series B funding round to supercharge international and domestic growth

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Smarkets, one of the world’s largest betting exchange and prediction market platforms, has announced the closing of a significant minority investment from Susquehanna Growth Equity (SGE).

Having raised just £3.8m ($5.4m) since its inception in 2008, with its Series A round coming back in 2013, Smarkets has built a leading exchange platform that processes billions of pounds in traded volume each year. The company has offices in London, Los Angeles, and Malta, licensed customer-focused operations in five countries, and in 2019 released innovative sportsbook app SBK.

Smarkets is delighted to welcome SGE, which joins existing investors Passion Capital and Deutsche Telekom in supporting the company’s mission to fix betting with the fairest odds in the industry.

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This new investment will allow Smarkets to accelerate its rollout in the US, where it is already live in Colorado with sportsbook app SBK and set to go live in Indiana soon. The funding will also bolster SBK’s position in the UK mainstream betting market after its successful launch in August 2019.

The new investment will contribute to:

Furthering the company’s US presence, including market-access deals in new, regulated states
Capturing an even greater share of the UK betting exchange market and accelerating SBK’s growth in the UK’s mainstream sportsbook market
Expanding Smarkets’ development of new products for customers and focus on industry-leading prices on sports, politics, and current affairs
Continuing to capture the best and brightest worldwide engineering talent with a view to doubling headcount by the end of 2022
Further expansion into new and recently entered markets such as Denmark and Sweden

Jason Trost, founder and CEO of Smarkets, said:

“This is an incredibly exciting day. I’ve always been amazed what the passion and energy of a comparatively small group of committed people can accomplish against much bigger rivals; Smarkets and SBK are the product of exactly that. At Smarkets we have always been guided by our vision of fixing betting with the best prices and products, and SGE is just as excited as us to challenge the status quo. This is a huge endorsement of our technology and will allow us to further upend the industry by offering bets as close to fair value as possible.

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“We are super proud of what we have achieved so far in the UK betting space, and this new investment will help take us to the next level and beyond in the UK, US, and other international markets. I’d like to thank the women and men that work and have worked at Smarkets for getting us to where we are.

“I truly believe the best is yet to come. This investment will allow us to fight with greater resources, move faster, and be bolder in our mission. We’re so excited about the opportunities this investment unlocks.”

Scott Feldman, Managing Director with Susquehanna Growth Equity, said:

“We are delighted to be able to join Smarkets on their upward journey. We immediately identified with their vision of using technology to take on the betting industry’s big operators by providing the fairest odds in the world and maintaining a clear focus on product excellence.

“Smarkets have achieved a huge amount with little investment to date and we can’t wait to see them go from strength to strength as they expand further into both the US and UK mainstream market.”

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Plaza Hotel & Casino Partners with Aristocrat Gaming™ to Debut Downtown’s First Buffalo & Mo’ Friends™ Slot Area

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Ribbon cutting event and launch of player promotion: Thursday, Sept. 4, 11 a.m.

On Thursday, Sept. 4 at 11 a.m., the Plaza Hotel & Casino will hold a ribbon cutting to celebrate the debut of a new dedicated area for fans of the wildly popular Buffalo™ and Mo’ Mummy™ slot game franchises  and other player-favorite Aristocrat Gaming titles. With 63 games, the Buffalo & Mo’ Friends slot area at the Plaza is the only one in downtown Las Vegas.

Located between the casino cage and the Plaza Rewards Players Club, the Buffalo & Mo’ Friends area at the Plaza features numerous fan-favorite Aristocrat Gaming titles, including:

  • Buffalo Ultimate Stampede™,
  • Buffalo Ascension™,
  • Buffalo Power Pays™,
  • Buffalo Triple Power™,
  • Coin Trio Buffalo™,
  • Buffalo and Friends™,
  • Buffalo Diamond Extreme™,
  • Mo’ Mummy,
  • Mo’ Mo’ Mo’ Mummy™,
  • Spooky Link™,
  • Ultimate Fast Cash™,
  • House of the Dragon™,
  • Phoenix Link™,
  • Jackpot Carnival™,
  • Firecracker Fortunes™,
  • Dragon Link™,
  • Lucky Looters™ and more.

The eye-catching wraps, bright lights, and distinct game sounds, Buffalo & Mo’ Friends welcomes players to a dedicated space of entertainment and excitement with their favorite games and ones they have yet to experience.

“Our goal on the casino floor is to offer the newest and most popular games to our guests, and our players are big fans of the various Buffalo and Mo’ Mummy games. So, we are thrilled to partner with Aristocrat Gaming on this dedicated game area that sets the Plaza apart from the rest of downtown Las Vegas,” said Jonathan Jossel, CEO of the Plaza Hotel & Casino.

“We pride ourselves in creating entertaining games that invite players to step into a world of fun with favorite characters, themes and gameplay features,” said Kurt Gissane, Chief Revenue Officer for Aristocrat Gaming. “The creation of the Buffalo & Mo’ Friends gaming area has truly been a collaborative effort with the Plaza team, wanting to give their players Mo’ and the new Buffalo & Mo’ Friends area certainly delivers. We look forward to seeing player excitement when they see all their favorite Aristocrat games in one vibrant area.”

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To celebrate the debut of Buffalo & Mo’ Friends on Thursday, Sept. 4, the Plaza will offer Plaza Rewards players a variety of Buffalo-branded swag items and the chance of larger prizes based on the number of points accumulated daily. The Buffalo-themed promotion will last until Oct. 4 or while supplies last. Full rules available at the Plaza Rewards Players Club.

Trademark HOUSE OF THE DRAGONTM owned by Home Box Office, Inc. Used with Permission. Copyright © Home Box Office, Inc. All Rights Reserved.

 

The post Plaza Hotel & Casino Partners with Aristocrat Gaming™ to Debut Downtown’s First Buffalo & Mo’ Friends™ Slot Area appeared first on Gaming and Gambling Industry in the Americas.

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INTRALOT, Inc. signs contract with Montana Lottery to deliver next-generation lottery technology

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INTRALOT S.A. is pleased to announce that its U.S. subsidiary, INTRALOT, Inc., has been awarded anew contract to provide the Montana Lottery with a next-generation lottery operating system and related services, including continued support for its Sports Bet Montana wagering product.

The new contract award follows a competitive Request For Proposal procurement process and marks the third contract between INTRALOT and the Montana Lottery, extending a nearly 20-year partnership built on innovation, reliability, and results.

The new agreement spans seven years with three one-year extension options and will ensure a fully modernized solution for nearly 1,300 retailers statewide. Under this new contract, INTRALOT will deploy its industry-leading LotosX Omni™ solution, which delivers a unified, future-ready lottery experience for players across the state using LotosX™, a best-in-class gaming platform engineered for upmost security, scalability, and innovation. INTRALOT will also design and provide an upgraded retail network infrastructure that will include the award-winning PhotonX retailer terminals and peripherals, plus new self-service terminals and multi-product vending machines, making the gaming experience more convenient and entertaining than ever for Montanans.

Bob Brown, Director of the Montana Lottery commented “We are very pleased to extend our business relationship with INTRALOT, a company that has been our partner for nearly two decades. This new contract ensures our lottery system remains modern and secure, allowing us to provide our retailers and players with the best possible experience. The LotosX Omni™ solution and new retail technology will be a game-changer, helping us to deliver an even more engaging experience for our players and continue to generate important revenue for the STEM scholarship program and for the State of Montana.”

Richard Bateson, CEO of INTRALOT, Inc. commented “We are honored to enter our third contract with the Montana Lottery and continue to partner with the Lottery as it embarks on its next phase of growth. With this new agreement, INTRALOT is bringing fresh resources, expanded expertise, andstate-of-the-art technology to reset and strengthen our local presence in Montana. At the heart of this transformation is our LotosXTM platform, a modular, microservices-based system that accelerates time to market, enables player-centric innovation, and delivers enhanced security and player protection through a proven and future-ready architecture.”

Since 2006, INTRALOT has played a pivotal role in Montana’s lottery success, helping to increase sales by an impressive 286% through technology upgrades and operational enhancements. Notably, INTRALOT introduced sports wagering to the state in 2020, uniquely tailored to Montana’s regulatory framework, and powers the Lottery’s wildly successful raffle game

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The post INTRALOT, Inc. signs contract with Montana Lottery to deliver next-generation lottery technology appeared first on Gaming and Gambling Industry in the Americas.

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West Virginia University Announces New Gift to Support the Center for Gaming Research and Development

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West Virginia University’s John Chambers College of Business and Economics is proud to announce the establishment of a new fund for the Center for Gaming Research and Development, generously seeded by gaming industry veterans Chen and Benjamin Truman.

Launched with the mission to promote research on responsible gaming practices and consumer protection in gambling markets, the Center leverages leading-edge expertise — including Chambers College like Professor Brad Humphreys, an internationally recognized researcher in the economics of gaming markets.

This new fund will enable the Center to:

  • Expand its research initiatives into gaming markets, including analysis of transactions level data provided by gaming operators in West Virginia to identify and understand problematic gambling behavior and ensure fair pricing of wagers.
  • Enhance integration of gaming-focused research and analytics into curricular offerings in the Chambers college, including cybersecurity, business data analytics, finance, management information systems, and economics.
  • Develop courses, training, certificates, initiatives and other activities designed to foster innovation in gaming technology development, and prepare students for careers in racing, gaming, gaming operations, hospitality management, guest relations, entertainment, and other amenities typically offered in conjunction with gaming operations.
  • Foster deeper collaboration with policymakers and industry stakeholders to translate research insights into impactful policy and practice.

The Center’s research, education, and outreach will have an important impact on the lives of state residents, college students throughout the state, gaming industry firms operating in the state, and state gaming regulators. This generous gift will allow the Center to fulfill the role envisioned by the state legislature when they passed The Responsible Gaming and Research and Industry Development Act. — Professor Brad Humphreys, Director, Center for Gaming Research and Development

This strategic investment by Chen and Benjamin Truman, a WVU alumni, underscores their commitment to evidence-based research and responsible industry practices. It will help propel the Center’s mission to safeguard consumer interests within evolving gaming markets.

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We’re thrilled to see West Virginia University take a leadership role in shaping the future of iGaming and sports betting policy. As industry veterans, Chen and I are proud to support a mission that will not only advance responsible gaming but also help set the global standard for innovation and consumer protection in this space.”Benjamin Truman, Co-Founder, Absolutebet.

About the Center for Gaming Research and Development

The Center was created by an Act of the West Virginia legislature, the Responsible Gaming and Research and Industry Development Act.  The Center is dedicated to advancing academic research, analyzing gaming data including transactions level data, developing courses and initiatives to prepare WVU students for careers in the gaming industry, and shaping policy and industry standards through collaboration, education, and data-driven insight. It seeks to mitigate inherent risks in gaming—such as problem gambling and pricing opacity—by empowering informed decision-making among consumers, regulators, and industry players.

About the John Chambers College of Business and Economics

Located at West Virginia University, the Chambers College combines rigorous academic programs with an emphasis on cutting-edge research, equipping students to address real-world challenges across business disciplines.

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The post West Virginia University Announces New Gift to Support the Center for Gaming Research and Development appeared first on Gaming and Gambling Industry in the Americas.

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