April 2022 - Page 2 of 3

Inside the deal to bring News Corp Australia into sports betting

Following months – if not years – of speculation, News Corp Australia has made its move into sports betting, in partnership with Tekkorp Capital, BetMakers and seasoned industry executive Matt Tripp. Tekkorp president Robin Chhabra talks iGB through the process.

Less than two weeks after it announced a new advisory arm, Tekkorp Capital flexed its muscles by playing a key role in the deal that creates a formidable new competitor for Australia’s sports betting sector.

News Corp Australia has created NTD: a consortium involving Tekkorp Capital and TGW, which was formed by Sportsbet and BetEasy founder Matt Tripp.

This group has struck a ten-year supply deal with BetMakers to power a new sportsbook product. The offering is due to launch in the second half of 2022, in time for the pinnacle of the Australian racing season, the Spring Carnival.

Two of Tekkorp’s senior team, chief executive Matt Davey and president Robin Chhabra, will join NTD’s board. Chhabra explains that while Austra..

April 21, 2022

DC betting revenue down 26.3% in March despite handle increase

Sports Betting News Bookiecity

Sports wagering revenue in Washington DC fell 26.3% year-on-year to $1.4m (£1.1m/€1.3m) in March, despite handle increasing 34.2% year-on-year.

Revenue for the month was down from the $1.9m posted in March 2021, but was 89.1% up from $740,542 in February of this year, which was the lowest monthly revenue total since July 2020.

In contrast, consumer spending increased year-on-year from $15.2m in March last year to $20.4m, with this figure also 6.8% higher than $19.1m in February this year.

Breaking down individual operator performances for the month, Caesars, which runs an online sportsbook and a retail offering at the Capital One Arena, led the way in terms of revenue with $563,801 off a handle of $563,634.

Gambet, operated by the DC Lottery and powered by Intralot, placed second after paying out $5.7m in winnings from $6.2m in player wagers, leaving $511,801 in revenue.

BetMGM, which is active in DC via a partnership with Major League Baseball franchise the Washington Nationals, ..

April 20, 2022

Fanatics denies Amelco sportsbook deal

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US sports apparel business Fanatics has denied a deal is in place with betting supplier Amelco to build a sportsbook for the brand.

Reports last week claimed that Fanatics had agreed a source code deal with Amelco as part of its plans to build a sports betting product.

“There is no deal in place with Amelco,” the spokesperson said, however.

Fanatics, which raised $1.5bn in January this year at a $27bn valuation, has long been credited with an interest in expanding from sports memorabilia into sports betting brand.

Last year, the business was among the bidders to operate sports betting in New York. Fanatics and Penn National Gaming’s Barstool brand were each listed as operators in a bid from Kambi.

This bid was ultimately unsuccessful, however.

Instead, a FanDuel-led consortium comprising DraftKings, BetMGM and Bally Bet was recommended, as was Kambi’s other proposal – involving Caesars Sportsbook, PointsBet, Resorts World, Rush Street Interactive and Wynn Bet.

The business also..

April 20, 2022

Dazn to launch sports betting brand with Pragmatic deal

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Sports streaming business Dazn has partnered with betting and gaming supplier Pragmatic Group in order to launch Dazn Bet – its own sports betting brand, which is set to soft launch in August.

Dazn will launch a new business, headquartered in Gibraltar, to operate sports betting under the new brand, which will do business “in multiple regulated territories”. The platform for this product will be provided by Pragmatic, through an exclusive multi-year deal with the media group.

“It’s an honour for us to partner with DAZN,” Pragmatic Solutions chief executive Ashley Lang said. “We know that fans want more integrated, immersive, and interactive experiences, and through our exclusive partnership with DAZN, we can deliver this.”

Dazn said that the new sports betting business would “develop a fun, convenient, and integrated experience for casual bettors to enjoy alongside DAZN’s live sports streaming”, as part of what it called “the trend towards recreational in-play betting”.

Shay Segev
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April 12, 2022

Indiana sports betting handle rises 50.6% year-on-year in March

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Players in Indiana wagered $476.8m (£365.9m/€438.3m) on sports in March, an increase of 50.6% on the same month last year.

The amount spent by consumers during the month far surpassed the $316.7m bet in March of 2021, while this total was also 16.6% higher than $409.1m in February this year according to the Indiana Gaming Commission.

With the NCAA basketball tournament occurring in March, basketball remained by far the most popular sport to bet on in Indiana, attracting $274.1m in bets. Football wagers reached $2.0m and baseball $1.6m, while parlay betting amounted to $121.3m and other sports drew $76.5m in wagers.

In terms of revenue, adjusted gross revenue for the month stood at $32.3m, which was up 22.8% from $26.3m in March 2021 and 90.0% higher than $17.0m in February of this year.

Looking at individual operator performance, FanDuel partner Blue Chip Casino led the way in revenue terms, posting $12.2m in revenue off a $143.8m handle.

DraftKings-partnered Ameristar Casino had ..

April 11, 2022

RMG welcomes Fakenham Racecourse to media rights group

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Horse racing media rights-holder Racecourse Media Group (RMG) has announced Fakenham Racecourse as its latest member.

RMG will work with the Norfolk racecourse on the commercialisation and development of its licensed betting shop, streaming, pay-TV and international rights from May 1 this year through to December 31, 2028.

Fakenham Racecourse will also become a shareholder in RMG, which is 100% owned by racecourses and pays all of its profits to its racecourse shareholders. The venue hosts 12 fixtures throughout the year.

“We are excited to be joining RMG and to be in partnership with many other like-minded small independent racecourses, alongside the larger independents and Jockey Club Racecourses,” Fakenham chief executive and clerk of the course, David Hunter, said.

“We have an excellent relationship with The Racing Partnership, At The Races and Sky Sports Racing which goes back many years and we are very grateful to the many successful years we have partnered with them.

“Howe..

April 11, 2022

Hard Rock launches sports betting in AZ with Navajo Nation

Sports Betting News Bookiecity

The Hard Rock Digital arm of Hard Rock International has launched its mobile sportsbook app in Arizona via a partnership with the Navajo Nation Gaming Enterprise (NNGE).

The new Hard Rock Sportsbook will allow players aged 21 or over in the state to place bets across a wide range of sports and competitions.

The app also features a selection of promotions, bet types, reward features and customer support.

The launch was made possible after Hard Rock announced a market access agreement with the NNGE in January this year.

The NNGE, a division of the Navajo Nation, the largest federally recognized Native American Nation in the US, operates five gaming and hospitality facilities across Arizona and New Mexico.

“Arizona has a rich sports culture and we’re proud to enter the state with our great partners at Navajo Gaming,” Hard Rock Digital executive managing director and chief executive Marlon Goldstein said.

‘We’re excited to debut our new platform, which players of all experience level..

April 8, 2022

Dutch withdrawal leads to 30% revenue drop for Kindred in Q1

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Kindred’s revenue has dropped by 30.0% year-on-year to £247.0m in the first quarter of 2022, with the operator putting the vast majority of its £105m drop in revenue down to its decision to withdraw from the Netherlands.

The drop in revenue was mostly due to the fact that Kindred agreed to block all Dutch customers from 1 October, when the country opened its online gaming market, until it receives a licence.

This came in response to a change in enforcement policy towards unlicensed operators in the Netherlands, which led to LeoVegas, Betsson, Entain and Casumo all also taking the same decision.

At the time, Kindred CEO Henrik Tjärnström said the operator believed it did not have to block customers from the Netherlands as long as it did not target them, but said Kindred would not accept Dutch customers until it received clarification. However, Kindred later announced that its sites would continue to be closed to players from the Netherlands until it receives a licence.

This, it sai..

April 8, 2022

FanDuel and Pokerstars strike partnership with Toronto NHL, NBA teams

Sports Betting News Bookiecity

Flutter brands PokerStars and FanDuel have entered into a partnership with Maple Leaf Sports and Entertainment (MLSE), which owns Toronto’s National Basketball Association (NBA) and National Hockey League (NHL) teams.

The deal designates FanDuel’s sportsbook as an official sports betting partner of MLSE, while Pokerstars has been named as its official gaming partner.

Under the deal, both operators will offer players in Ontario entertainment options across sports, poker and casino gaming.

Read the full story on iGB North America.

April 7, 2022

Betfan turns profit in third year of operation

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Polish bookmaker Betfan reported sales of €77m (£64.2m/$83.9m) for 2021, while its profit came to €760,000.

The business – which started taking bets in April 2019 – noted that its sales were up 90% from 2020. This, it said, was due to an 85% year-on-year increase in customers. The number of markets it offered, meanwhile, was up by 20%.
In addition, it said it achieved profitability in “record time” as no previous Polish bookmaker had made a profit within three years.
“When we started our business three years ago, we had very ambitious plans and we have been consistently pursuing our objectives ever since,” Betfan co-owner and chairman Łukasz Łazarewicz said. “We benefit from the fact that the betting market has grown by around 50% last year and this year it is expected to grow by between 15% and 20%.
“However, Betfan has been growing much faster than the industry itself and we will aim to maintain this trend in the coming years as well. At the same time, we have a strong advantage in ..

Month: April 2022