Month: August 2021

FanDuel secures extension with WNBA

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter DFS Daily fantasy sports (DFS) operator FanDuel has extended its partnership with the Women’s National Basketball Association (WNBA) Daily fantasy sports (DFS) operator FanDuel has extended its partnership with the Women’s National Basketball Association (WNBA). Last May, the WNBA became the first women’s professional sports league to have a deal with one-day fantasy games under an initial deal with FanDuel. This agreement will now be extended for a further two seasons, with FanDuel to also have the rights to stream select WNBA games and incorporate highlights on its platform. “They were a terrific partner in the inaugural year last year; WNBA games on FanDuel were extraordinary by every measure,” WNBA president Lisa Borders told the Associated Press. “The opportunity to stream on their platform is a new one; they are building out the capabilities as we speak. “We’d be one of the first, if not the first to stream live on the FanDuel platform.” FanDuel chief executive Matt King added: “We’re making FanDuel more fun for more people, including both new and current WNBA fans, and the astounding growth we’ve enjoyed is a direct result of that. “We have seen tremendous enthusiasm from our customers for this product across other sports, especially NBA and expect it to perform equally as well for WNBA.” DraftKings will also offer WNBA fantasy games throughout the coming season.Related article: WNBA agrees fantasy sports partnership with FanDuel Subscribe to the iGaming newsletter Topics: Marketing & affiliates Sports betting Tech & innovation DFS Regions: US FanDuel secures extension with WNBA Tags: Fantasy Sports 21st May 2018 | By contenteditor Email Addresslast_img read more

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Sportech completes acquisition of LOT.TO

first_img Tags: Online Gambling Sportech completes acquisition of LOT.TO Subscribe to the iGaming newsletter Lottery Betting technology business Sportech has finalised its acquisition of UK-based iLottery solutions provider LOT.TO systems. Sportech has completed its acquisition of UK-based iLottery solutions provider LOT.TO Systems.Betting technology business Sportech said the deal will help to solidify its global gaming capabilities and services position.Sportech, which takes a 100% holding in the business, said the purchase will also enable it to expand its suite of gaming services.Financial details of the deal were undisclosed, but Sportech has previously stated that the acquisition will be non-material in the context of the group.“This acquisition will enhance the digital capabilities across all group business lines,” Sportech executive chairman Richard McGuire said.“In addition, it will accelerate a strategy to further develop those growth opportunities, consolidate our sports betting capability, enhance our existing lottery product capabilities and support the digital development of our global pari-mutuel capabilities in an efficient and effective manner.”UK-regulated LOT.TO has worked with gaming companies including Lottoland and CelebPoker, as well as media giants Sky and Virgin. Among its products are lottery and betting games, as well as player management systems delivered on its cloud-based iLottery platform.Sportech first revealed plans to acquire LOT.TO in November last year, just days after the company issued a profit warning and announced the departure of CEO Andrew Gaughan.center_img Topics: Lottery Strategy 4th February 2019 | By contenteditor Email Address AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitterlast_img read more

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Bragg names new CFO as Q3 net loss narrows

first_img Tags: Mobile Online Gambling Slot Machines Topics: Casino & games Finance Strategy Slots AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 12th November 2019 | By contenteditor Bragg Gaming Group has reported revenue of CAD$10.0m for the third quarter of 2019, while starting tomorrow, the business will have a new finance chief as bwin.party veteran Stephen Prowse takes over the role from Ashkay Kumar. Bragg Gaming Group has reported revenue of CAD$10.0m (£5.9m/€6.9m/US$7.6m) for the third quarter of 2019, while starting tomorrow (November 13), the business will have a new finance chief as bwin.party veteran Stephen Prowse takes over the role from Ashkay Kumar.Revenue for the three months to 30 September would have come in at $10.6m, were it not for the online media division, comprising the GiveMeSport (GMS) assets, being listed as a discontinued operation.Following the publication of Bragg’s first half results in August, it announced that it had initiated a strategic review of the division, with a view to selling it off in order to focus on B2B gaming.This strategic review is expected to be completed in the first quarter of 2020, and in the interim, Bragg said, it would continue to enhance the offering. This has seen the GMS site relaunched in July, which resulted in a 46% increase in site visitors in October, to 23.3m.The B2B gaming division, meanwhile, generated revenue of $10.0m, of which $1.8m came from the US market, with a further $8.2m coming from European markets, excluding the UK. While Bragg did not provide year-on-year comparisons, chief executive Dominic Mansour noted that Oryx’s revenue was up 30% from Q3 2018.Revenue-related costs came in at $5.7m in Q3, leaving a gross profit of $4.3m for the quarter. After general and administrative expenses of $4.2m, and sales and marketing outgoings of $220,832, Bragg posted an operating loss of $117,479 for the period.After income tax, and factoring in a $129,507 loss from GMS, plus a $12,260 foreign exchange gain, Bragg’s net loss for the quarter stood at $316,513 – a marked improvement on the $11.3m loss reported for Q3 2018.“I am extremely pleased with the company’s progression over the past quarter,” Mansour said. “We’ve proven that, with our modern technology and seamless integration process, we are able to expand our operator base at a significantly faster rate than the competition.“I am particularly pleased that the strong momentum of operator launches experienced in the first half of the year continued into Q3 with the successful launch of 10 new operators,” he continued. “We expect this momentum to further accelerate throughout Q4 with more than 14 launches in the pipeline.”Following the end of the quarter, Bragg agreed a partnership with sportsbook technology provider Kambi Group to provide casino services and player account management solution to operators, initially focusing on the US.The partners have already struck a deal with New York’s Seneca Gaming Corporation, a tribal operator with three casinos in the state. This will see Bragg and Kambi provide a combination of products and services to the business.Mansour described the partnership, and the Seneca deal, as “huge stepping stones” for Bragg as it looked to expand its international reach. “Our strategic focus in the US is to partner with tier-1 casinos and operators,” he explained. “I believe that this Seneca deal will be the first of many in the coming years, particularly as the legal landscape continues to mature.”From tomorrow, the company will have a new finance director, with Ashkay Kumar stepping down for personal reasons.“I would like to thank Akshay for his hard work and contributions to Bragg,” Mansour said. “Our team wishes him all the best for the future.”Kumar’s replacement, Stephen Prowse, previously served as group finance director for PartyGaming, and continued in the same position following its merger with bwin in 2011.During his time with PartyGaming, Bragg said, Prowse was “instrumental” in the acquisition of Foxy Bingo and the €2.1bn bwin merger. Mansour noted that his M&A expertise would be “extremely valuable” to the business.Prowse added: “I am delighted to join Bragg at such an early and exciting point in its growth trajectory.  Bragg has market-leading technology, products and people. “As such, I see enormous potential for this business and am very much looking forward to being a part of that growth.”center_img Regions: US New York Email Address Bragg names new CFO as Q3 net loss narrows Casino & games Subscribe to the iGaming newsletterlast_img read more

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GVC appoints new IR and comms director

first_img Email Address Subscribe to the iGaming newsletter Topics: People AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter GVC Holdings has brought in David Lloyd-Seed from its strategic communications advisors Powerscourt to serve as the operator’s new director of investor relations and external communications. 28th January 2020 | By contenteditorcenter_img GVC Holdings has brought in David Lloyd-Seed from its strategic communications advisors Powerscourt to serve as the operator’s new director of investor relations and external communications.Lloyd-Seed will report directly to GVC finance chief Rob Wood in his role, with responsibility for leading communication with investors, the City and a range of key stakeholders. He will begin his work with the company from March 2020, ahead of the publication of the operator’s full-year results for 2019.At Powerscourt he served as head of capital markets, and GVC described him as “one of the UK’s most experienced IR and capital markets practitioners”. He has more than 15 experiences working in investor relations for companies such as telecommunications giant Telefonica UK, electronics retailer Dixons and water company Severn Trent.
This followed an 18-year career in corporate brokerage, in which the advised multiple sectors in IR, fundraising, mergers and public offerings.As a result of his appointment, Nick Batram, who has been acting as GVC’s investor relations lead, will return to group director of corporate strategy and development. Batram joined GVC as director of IR in 2016, before being moved to his current role in January last year.
“David brings a huge wealth of experience and expertise to the Group from the City and as a strategic advisor and communicator,” GVC CFO Wood said. “His appointment adds further strength and depth to our management team and I am delighted to welcome him on board.”Lloyd-Seed added he was delighted to be joining GVC, to work with “the most dynamic management team in the sector”.“This is a hugely exciting time for GVC as it consolidates its position as a global industry leader, continues to expand into newly regulating markets, and leads the industry in responsible gambling.” People Tags: Mobile Online Gambling GVC appoints new IR and comms directorlast_img read more

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Maine Senate overrides Governor veto on sports betting bill

first_imgLegal & compliance Email Address Maine’s Senate has voted to override Governor Janet Mills’ veto of a bill that would legalise sports betting in the state, with the legislation now set to move forward and become law. 7th February 2020 | By contenteditor AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Regions: US Mainecenter_img Topics: Legal & compliance Sports betting Maine Senate overrides Governor veto on sports betting bill Subscribe to the iGaming newsletter Maine’s Senate has voted to override Governor Janet Mills’ veto of a bill that would legalise sports betting in the state, with the legislation now set to move forward and become law.The Senate voted 20-10 in favour of the measure when asked the question: “Shall this Bill become a law notwithstanding the objections of the Governor?” The bill will now be put to a vote in Maine’s House, where it is expected to pass.Mills vetoed Legislative Document 553 last month, arguing that the people of Maine are not ready for sports betting. Though she praised the bill’s intention in bringing sports betting away from the black market, she did not believe such a bill at this time was the will of the people of her state.Speaking last month, Mills added that she would rather see Maine examine the successes and failings of legal sports betting elsewhere in the US before a bill is passed in Maine.Mills also said she was concerned the bill would not do enough to prevent young people being exposed to gambling through advertising. She acknowledged that mobile sportsbook operators were able to employ sophisticated mechanisms to detect problem gamblers and underage play.Read the full story on iGB North America.last_img read more

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Could Covid-19 present an opportunity for Zeal?

first_img Subscribe to the iGaming newsletter Regions: Europe Central and Eastern Europe Germany Could Covid-19 present an opportunity for Zeal? Having shifted its focus to Germany, a market where online lottery penetration is particularly low, the lottery brokerage business could potentially benefit from the crisis, reports Joanne Christie.Zeal Network is not only well positioned to weather the coronavirus (Covid-19) outbreak, but early signs show the pandemic could even propel the company closer towards its goal of reaching a 50% online market share in Germany.In a conference call on Thursday to discuss the company’s annual report for 2019, CEO Helmut Becker and CFO Jonas Mattsson were cautiously optimistic about the company’s ability to navigate a path through the crisis.“Fortunately, it has so far not had a measurable negative impact on us,” said Becker.Though in Spain Zeal subsidiary Venture24’s partner ONCE and also state lottery operator Sociedad Estatal Loterías y Apuestas del Estadostate have stopped selling lottery tickets due to the outbreak, Becker said he thought the risk of this happening in Germany was “very small”.When pressed to explain this optimism, Mattsson said: “What gives us confidence is that we are in touch with the operators of these lotteries and we know that they are determined to keep operating these lotteries. They are setting up the draws with multiple redundancies, so that is redundant locations, redundant teams, redundant machines. That is true for the German state lotteries, it is also true for EuroJackpot.”In fact, the crisis could see more German players migrate online. At present, online penetration in the lottery market is very low in Germany at just 14% in 2019, compared with 26% in the UK and 41% in Sweden in 2018.But with the lockdown and store closures, more players could move online as retail sales fall.“What we see is that there is a decrease of around 10-20% in billings sold offline in Germany and in other countries that have implemented similar anti-corona measures as Germany,” said Becker. “We see a risk that the lottery product may be less top of mind for our customers than in usual times. On the other hand, the online channel is even more attractive these days.”Indeed, on March 20 in a statement on the impact of Covid-19 on its business, French lottery operator Française des Jeux (FDJ) flagged the possibility of a 50% reduction in retail sales, which it said could impact revenues by €55m per month. However, it said it continued to “post good results for its online lottery game”.Becker said Zeal was currently seeing strong acquisition numbers at its Lotto24 and Tipp24 brands, but added that it was difficult to ascertain if these were related to the coronavirus or the high EuroJackpot – the jackpot was at almost €90m at the time of the results announcement.Ramping up marketing In any case, the company has been adjusting its marketing to take advantage of the situation, particularly by advertising on online news sites“We are present in the relevant channels, for example, in the news sites where people inform themselves about the corona crisis, so we are visible there; basically they can see that they can continue to play the lottery from the comfort of home by using our brands,” said Mattsson. “We have always been flexible in terms of ramping up our marketing spend, taking advantage of these kinds of situations, and that is already what we are doing.”And that increased marketing spend – a key plank of Zeal’s strategy going forward – is easier to justify under its new business model, said Becker. The company abandoned its lottery betting business last year to focus solely on brokerage after the acquisition of its former subsidiary Lotto24, moving its office to Germany at the same time.“In a business where you spend once for customer acquisition and then monetise those customer cohorts for many years, the sustainability of that business model is critically important. We concluded that the future of the lottery betting business and therefore the future growth and monetisation opportunity was very much in doubt.“Now we are in a stable environment and can safely harvest the value of the customers that we acquire. Our aim is to earn back the upfront customer acquisition cost within the first two years or less of a customer lifetime, thus creating a strong customer lifetime value,” said Becker.Since switching its business model, Mattsson said its cost per lead has already been reduced by 7% due to it having access to more efficient marketing channels, social media and Google in particular.He said marketing was an area where brokerage has a clear advantage over lottery betting. “The key issues that they have is that Lottoland and secondary lotteries have lost most of their marketing channels, almost all of their marketing channels, and that enforcement is even increasing and has increased over the last months and years. And that is enforcement on the secondary lottery providers but also on the marketing channels, the marketing companies themselves.”The bottom line Of course, while marketing may be more efficient under the new strategy, the switch to brokerage has impacted Zeal’s bottom line significantly. The company largely confirmed the numbers released in its interim results last month, reporting revenue of €113.5m in 2019, which was down 26.7% on the previous year.EBITDA was increased slightly from the interim figures, to €29.4m, though this was still a 38.5% drop on 2018.It also released details of its dividend policy for 2019, with a total payout of €17.6m proposed for 2019, equating to €0.80 per share. By 2022, it aims to increase this to €1.00 per share.Zeal’s guidance for this year confirms the huge margin disparity between its old business model and its new one. Despite expecting billings to rise to between €550-570m this year, from €466.7m in 2019, it anticipates revenues will fall to €70-73m, from €113.5m in 2019.Further, EBITDA is expected to fall to between €5-8m (from €29.4m) and its gross margin is expected to more than halve to 12% from 24.3%.Despite this, Mattsson said. “I’ve never been so convinced that switching business model was the right decision for Zeal and for our shareholders. By leaving the legal uncertainties behind us we can now instead focus on building and growing a sustainable business in Germany.”One way it plans to do this is simply by increasing its customer numbers and therefore its revenues – it currently has a 35% share of the online lottery market. “We want to take advantage of the rising online penetration in the Germany lottery market. The total size of that market is €7.3bn for just the state lottery products, or €9bn if we include other lottery products,” said Becker.“Long term, that means we are looking at a €9bn market that is moving towards 50% online penetration and we want to own 50% of that online market.”But Zeal also sees opportunities to move back into higher margin products. Although the company has taken a hit after discontinuing sales of the high-margin instant win games offered in the old betting on lottery business, Becker sees potential to re-enter this area.“What we have as an opportunity right now is instant win games and the first type of instant win game that comes to mind are scratchcards that we can offer now in more and more states in Germany and that have a higher margin. I believe that we can go beyond scratchcards in certain states going forward but that is something that we are working on right now,” he said.He added that the recently agreed gambling treaty in Germany could also open up new products for the company, though also acknowledged that competition in the market may increase. “We see some opportunities in improved marketing regulations and the potential to add other gambling products to our portfolio, however, likewise, other gambling companies could also add lottery to their business model. To do so that would require a broker licence, of course.“There are some risks and some opportunities in the law but overall it gives us a very stable environment to operate in with no major changes to our business model or market environment.” 30th March 2020 | By contenteditor Having shifted its focus to Germany, a market where online lottery penetration is particularly low, the lottery brokerage business could potentially benefit from the crisis, reports Joanne Christie.center_img Lottery Topics: Lottery AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Addresslast_img read more

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Enlabs turns to arbitration to acquire remaining Global shares

first_img Optibet operator Enlabs is to bring in arbitrators as it looks to exercise its right to purchase all outstanding shares in Global Gaming. Topics: Strategy Management Enlabs turns to arbitration to acquire remaining Global shares Other shareholders in Global can notify their arbitrators within two weeks from the date of the redemption announcement, which was made on 13 November. 16th November 2020 | By Robert Fletcher Management Tags: Global Gaming Enlabs The Swedish Companies Act states that if a business owns more than 90% of the total shares in another company, it may request redemption of remaining shares to allow it to assume full control. Email Addresscenter_img Baltics-facing operator Enlabs in September put forward an offer to acquire all of the remaining shares in Global, in a deal that valued the business at SEK450m (£39.4m/€43.9m/$52.0m). Should the full acquisition go ahead as expected, Christian Rasmussen, who was appointed by Enlabs to the Global board in August, will serve as Global’s acting chief executive, after Tobias Fagerlund agreed to step down from the position. The deal has already secured approval from the Estonian Competition Authority, the only authority that was looking into the acquisition, announced its approval for the transaction last month. At the time, Enlabs held a 66.7% stake in Global, and earlier this month increased this to 95.8% through the shareholder offer. According to Global, as an agreement on redemption could not be reached with all other shareholders in the operator, Enlabs requested the dispute be decided by arbitrators Anders Norman. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletterlast_img read more

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Mkodo appoints Haselhurst to new digital delivery role

first_img Regions: Canada UK & Ireland People moves “The market is still ripe for innovation and mkodo is in a great place to offer operators and their players that.”   “The Mkodo executive team is delighted to welcome Ross to the company,” it said. “His industry expertise and experience will play an important role in taking Mkodo to its next level of growth.  Topics: People People moves Mobile gaming app developer Mkodo has appointed Ross Haselhurst to the new role of digital delivery director. He previously worked at Bede Gaming, in which Gauselmann Group took a controlling stake in March last year, as commercial director, previously serving as head of platform. “It is a fantastic opportunity for me to join mkodo and the Pollard family and to be working across several key projects to help grow and mature the business,” Haselhurst said. The new role is part of Mkodo’s expansion strategy, following its acquisition in February 2020 by Pollard Banknote, a Canadian lottery solutions provider, for £7.8m plus performance-based earn-out payments. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter “Mkodo has a fantastic client base and I look forward to bringing premium digital products and player engagement solutions to our partners. center_img Mkodo appoints Haselhurst to new digital delivery role Tags: Pollard Banknote Mkodo In this role Haselhurst will oversee product delivery, quality assurance and the project management team. “The industry’s focus on offering premium digital products to its players is stronger than ever and this, coupled with the significant projects in the pipeline, make it an exciting time to join the mkodo team.” 29th January 2021 | By Daniel O’Boyle Before this, he was head of software delivery at Insure the Box, which insures telecommunications devices. Mkodo said Haselhurst’s experience meant he should be able to help the business continue to grow. Subscribe to the iGaming newsletter Email Addresslast_img read more

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Betway and Betsson latest to earn German sports betting licences

first_imgThe first 15 operators to receive licences under the new German state treaty did so in October 2020, after  a legal challenge by Austrian bookmaker Vierklee that had previously derailed efforts was withdrawn. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter “We are thrilled to announce that Betway has received a sports betting licence from the Regional Council in Darmstadt,” Betway group chief executive Anthony Werkman said. “As a leading regulated online betting and gaming company this gives us the transparency and security to cement our position as a responsible gaming provider in the German market. Subscribe to the iGaming newsletter The Regional Council of Darmstadt (RP Darmstadt) has granted online sports betting licences to Betsafe, under the trading name Wegame, and Betway, allowing these operators to offer online sports betting to customers across Germany. The operators were both added to the list of licensees, as were three new divisions of Tipico, bringing the total number of licensees to 27. Wegame’s licence will cover the Betsson brand, as well as Betsafe, Casinowinner, Guts, Rizk Sport, Nordicbet and Schnellwetten. Tags: Glücksspielstaatsvertrag Betsson Betway Email Address Interwetten, Bet3000 and Betclic Everest’s Bet-at-home brand followed in November, while Stoiximan-owned Austrian operator Betkick Sportwettenservice and Malta-licensed Betago both received licences last month.center_img Online sports betting The first group included  four licences for GVC Holdings, as well as approvals for Gauselmann Group and Tipico, and Austria’s Novomatic.  “We look forward to delivering on our commitment to our German customers, offering them an unrivalled online sports betting experience in a safe, fair and responsible environment.” Topics: Legal & compliance Sports betting Licensing Regulation Online sports betting 10th March 2021 | By Daniel O’Boyle Regions: Europe Central and Eastern Europe Germany Betway had already agreed partnerships with Bundesliga football clubs SV Werder Bremen, Hertha BSC and VfB Stuttgart prior to gaining approval from RP Darmstadt. Betway and Betsson latest to earn German sports betting licenceslast_img read more

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Mixed February sees MI sports betting revenue fall as igaming increases

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Tags: Revenue Handle Mixed February sees MI sports betting revenue fall as igaming increases However, as Michigan only opened its online gambling market on January 22, operators were only able to offer such services for the last 10 days of January. MGM Grand Detroit and its BetMGM sportsbook claimed top spot in this market, posting $5.3m in revenue off of $75.7m in total wagers, while Greektown Casino, with its Barstool Sportsbook product, ranked second with $1.9m in revenue and a handle of $40.2m. The Michigan Gaming Control Board has reported a 171.8% month-on-month increase in igaming revenue in February, though revenue from sports betting in the US state slipped 28.6%. Total gross receipts from online gambling for the month amounted to $89.2m (£64.2m/€75.0m), more than double the $42.7m reported in January. Regions: Michigan 16th March 2021 | By Robert Fletchercenter_img Finance Revenue from online sports betting dropped from $13.3m in January to $9.5m in February. Players staked a total of $301.9m on sports wagering in February, an increase of 162.1% on the $115.2m bet in January, but as players won more, this pushed revenue down month-on-month. Read the full story on iGB North America. Topics: Finance Sports betting Online casino Online sports betting Subscribe to the iGaming newsletter Email Addresslast_img read more

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