Sports Betting News Archives - Page 40 of 67

BetMakers CEO optimistic as revenue rockets after Sportech acquisition

BetMakers chief executive Todd Buckingham said the business is now “unquestionably robust and independent of any single contract or strategy”, following rapid revenue growth in 2021-22, aided by the acquisition of Sportech’s global tote arm.

The business brought in AU$91.7m in revenue during the year ended 30 June, though its losses also increased following the deal.

Global betting services – which previously made up the vast majority of BetMakers’ revenue – brought in AU$19.5m, up by 179.3%.

However, with acquisition-driven growth in other segments, it was no longer the leading revenue generator for the business.
Instead, the global tote arm – acquired from Sportech last year – was the new leader. Tote revenue was AU$46.9m, up from just AU$1.7m a year earlier as the acquisition closed in the final weeks of 2020-21.

The BetMakers global racing network brought in AU$4.1m, up by 28%.

Costs of goods sold also increased, but more slowly, from AU$9.3m to AU$25.4m, resulting in a gross..

August 26, 2022

GNOG secures market access in Kansas with Boot Hill Casino

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DraftKings-owned Golden Nugget Online Gaming (GNOG) has secured market access in the state of Kansas by entering a partnership with Butler National Corporation, operator of the Boot Hill Casino & Resort.

Under the deal, which is subject to the receipt of licenses and regulatory approvals, GNOG will roll out its online sportsbook in Kansas, allowing players across the state to place bets on sports.

New laws in the state will allow land-based casinos each to contract with three sports wagering platform providers, as well as offer sports betting through a retail sportsbook.

Butler National Corporation president and chief executive Clark Stewart said the aim for the operator is to launch sports betting in some form by September 1, the date which licensed casinos can begin accepting wagers.

“GNOG is a recognised and established brand within the gaming industry,” Stewart said. “We’re thrilled our customers may soon experience all the excitement that online sports betting has to offer wit..

August 25, 2022

Delaware sets igaming revenue record in July as sports betting struggles continue

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Online gaming revenue in Delaware reached a record-high in July, though the state’s sports betting market continued to struggle.

Revenue from igaming amounted to $1.25m (£1.06m/€1.25m). narrowly beating the previous monthly high of $1.22m set in April this year.

The July figure was also 58.1% higher than $793,017 in the same month last year, as well as 12.1% ahead of $1.1m in June this year.

Online video lottery accounted for $1.0m of total revenue for the month, with table games at $165,378 and poker rake and fees $43,944.

Players spent $39.4m gambling online, including $26.8m on video lottery and $12.6m on table games.

Delaware Park was the leading operator in the igaming sector with $377,753 in revenue off $16.2m in bets, ahead of Bally’s Dover on $377,753 from $12.9m and Harrington Raceway with $332,904 off $9.8m in wagers.

Turning to sports betting, revenue for the month stood at $383,249, down 27.5% year-on-year, but 80.1% higher than $212,768 in June this year.

Consumers ..

August 25, 2022

USA Today publisher Gannett alters Tipico deal, removing exclusivity

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US media giant Gannett has altered its affiliate partnership with Tipico, removing exclusivity for the operator.

Gannett – which owns the country’s leading newspaper by circulation, USA Today, as well as a large network of local newspapers – had signed a deal with German market leader Tipico last year, as the operator looked set to expand in the US.

The operator committed to $90m in media spend over the five-year agreement, while Gannett would also receive referral fees for customers that place bets after being directed to Tipico from Gannett properties.

That agreement replaced Gannett’s partnership with MGM-Entain joint venture BetMGM, meaning the media business would promote Tipico odds instead of BetMGM’s.

Read the full story on iGB North America

August 24, 2022

BetMGM expands strategic partnership with SportsGrid

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BetMGM has expanded its strategic partnership with US-facing 24-hour sports wagering streaming network SportsGrid.

Under the multi-year agreement, BetMGM’s trading team and experts will provide insight during a number of SportsGrid programs such as including Ferrall Coast to Coast, Pro Football Today and In-Game Live Primetime.

BetMGM’s odds and promotions will feature throughout Ferrall Coast to Coast, while its content will also appear on other shows broadcast by SportsGrid.

In addition, SportsGrid’s lead pro football analyst Warren Sharp will deliver reports from MGM Resorts properties including MGM National Harbor in Maryland.

The reports will be distributed over SportsGrid’s multi-media content platforms including the video streaming network, website, digital syndication publisher network and both BetMGM’s and SportsGrid’s social media properties.

The expanded deal builds on an initial strategic partnership announced in February of this year.

“We are thrilled to be expanding..

August 23, 2022

Kambi pens multi-channel sportsbook deal with Oaklawn Racing Casino Resort

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Kambi Group has entered into a multi-channel sportsbook agreement with Oaklawn Racing Casino Resort in the US state of Arkansas.

Under the deal, Kambi will provide its on-property and online sportsbook solutions direct to the thoroughbred racetrack and casino.

Kambi will support Oaklawn with the launch of its online sportsbook operations under the brand “Oaklawn Sports”, subject to Arkansas passing the relevant laws. Online gambling of any kind is not yet legal in the state.

In addition, Kambi will continue to provide its retail sports betting solution to Oaklawn. The venue has been offering sports wagering through Kambi’s retail sportsbook since last year, with the new, multi-channel deal replacing the existing agreement.

“Oaklawn has been one of the most trusted brands in Arkansas for more than 100 years and we are excited to now offer our loyal customers yet another great amenity with our much-anticipated mobile wagering platform,” Oaklawn general manager Wayne Smith said.

Kamb..

August 22, 2022

Dazn Bet goes live with UK “soft launch”

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Dazn Bet – a new betting venture from streaming giant DAZN – has launched its beta product in the UK, the first market in which it is live.

The streaming business announced the launch of a new betting brand in April, which would be powered by technology from Pragmatic Play and named Dazn Bet.

Later that month, Dazn announced that Mark Kemp, who at the time was chief executive of BoyleSports, would lead the new betting brand.

The operator will do business under a Great Britain Gambling Commission licence held by One Click Limited. One Click had operated a number of B2C brands in Great Britain such as Casinoland and Royal Slots, before withdrawing from the market earlier this year.

Kemp said the the ultimate goal of Dazn Bet was to create a product that fully integrates betting into streaming. The business said it hoped to also integrate news updates, non-fungible tokens, tickets, and merchandise – as well as betting – into its streaming product in the near future.

“The initial laun..

August 22, 2022

How social gaming set Bryan Bennett up to succeed at Betfred

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Bryan Bennett fought “800lb gorillas” working for a challenger brand in the social casino space, and that experience could prove crucial as he works to make Betfred USA Sports a key player in the sports betting sector.

The social casino boom of the early 2010s, sparked by what was then Caesars Interactive’s investment in Playtika in 2009, opened up a new audience to the gaming industry and sparked a wave of M&A. The likes of DoubleDown, Big Fish Games, Product Madness and Buffalo Studios were among those to sell at significant multiples.

The smaller challengers tended to have to fight for market share, which in turn saw the market leaders turn to them as acquisition targets to further shore up their strong positions.

Bryan Bennett entered the fray as vice president of marketing for slot developer Rocketplay, one of these challengers, and one that was ultimately snapped up by slot manufacturer AGS. This saw Bennett, who previously worked for strategy games developer Kabam and casua..

August 19, 2022

WynnBet and MaximBet among latest sports betting licence applicants in Ohio

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A further four operators have submitted applications for mobile management services licences in Ohio, with WynnBet and Maximbet among the brands seeking approval in the state.

As confirmed by the Ohio Casino Control Commission (OCCC), the two operators, along with Digital Gaming Corporation – which has the rights to the Betway brand in the US – and Stake Trade, more commonly known as Prophet Exchange, have has put their names forward for a license

WynnBet, the online gaming division of Wynn Resorts, applied in partnership with Jack Thistledown Racino. WynnBet’s efforts to launch in Ohio date back to January last year when it announced it had secured a market access deal in the state with an unnamed partner.

Carousel Group-operated MaximBet put forward its application with Jack Cleveland Casino, having in September last year revealed it had agreed a market access deal in Ohio, again with an unnamed partner.

Meanwhile, Digital Gaming Corporation sent its application to the OCCC in pa..

August 19, 2022

Mississippi sports betting handle continues to decline in July

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Player spending on sports betting in Mississippi declined for the fourth consecutive month in July, while the state’s handle also fell year-on-year.

Consumers wagered a total of $18.3m (£15.4m/€18.2m) in sports during the month, down 27.1% from $25.1m in June this year and also 40.4% lower than $30.7m in July of 2021.

Revenue improved month-on-month, rising 19.5% from $2.1m in June to $2.5m, though this figure was 13.8% behind the $2.9m reported in July last year.

Coastal casinos were once again the busiest of the state’s sports betting venues drawing a total of $11.4m in bets and turning $1.5m in revenue.

Player spending at central casinos reached $4.1 and revenue amounted to $481,362, while northern casinos took $2.8m in wagers and posted $513,693 in revenue for the month.

Baseball drew the largest portion of bets during July, with consumers wagering $6.5m at coastal casinos, $1.9m and central casinos and $1.6m at northern casinos.

Category: Sports Betting News