iGaming Weekly Wrap-Up #49
#Breaking News
1.??????DSWV expands membership with BildBet and sportwetten.de additions
BildBet and sportwetten.de have become the latest online sports betting operators to join the German Sports Betting Association (DSWV), increasing the trade group’s membership to 17 companies.
A co-venture between Gibraltar-based British online provider BetVictor and prominent German media brand Bild, the most widely read tabloid newspaper in Europe and part of the Axel Springer SE publishing group, BildBet was established in October to target the re-regulated German online marketplace under the GlüNeuRStv regulatory regime.
The co-operators of the sports betting site have maintained track for their planned December launch detailed earlier this year, with BetVictor receiving one of the first 15 online licences approved by the Regional Council of Darmstadt – the Hesse-based agency which holds the responsibility for issuing federally approved gaming licences.
2.??????Playtech puts make or break deadline on JKO deal proposal
The board of Playtech Plc has demanded that JKO Play, the consortium led by former F-1 team owner Eddie Jordan and business partner Keith O’Loughlin, submit its acquisition offer by no later than Wednesday 5 January 5:00 PM.
The deadline sees Playtech put forward a ‘put-up or shut-up’ notice to JKO, which had made its initial approach on 17 November, requiring access to due diligence information of the FTSE250 technology group to propose its pending bid.
Yet to disclose its hand, JKO is competing against ASX gambling group Aristocrat Leisure, whose ￡2.7 billion offer was accepted by Playtech governance on 12 November.
As it stands, Aristocrat’s 680 pence per share offer will be put forward to Playtech investors at the firm’s next general meeting.
?3.??????Colossus Bets sues DraftKings of IP infringement of Cash Out product
Colossus Bets has filed a US Patent lawsuit against DraftKings in relation to the infringement of its Cash-Out product.
The lawsuit has been filed with the District Court of Delaware and sees Colossus accuse DraftKings of infringing seven patents across sports betting and gaming products that are incorporated within its Cash-Out feature.
Global law firm DLA Piper will represent Colossus in legal proceedings, in which the sports betting technology firm underlined its full intentions to defend its intellectual property rights.
As a result, Colossus is looking to claim damages equivalent to the gross revenue from those bets. That could be more than $1 billion from DraftKings alone.
?4.??????Indian MP calls on government to bring in nationwide online gaming laws
Indian MP Sushil Kumar Modi has called on the government to create a comprehensive framework of regulation for online gaming, expressing his concerns for its rise in popularity in the country.
Speaking in India’s Council of States the Rajya Sabha, Modi cited a rise in gaming activity among young people as a cause for concern as it was leading to online betting further down the road. The presentation of online gaming as a game of skill was also highlighted as a problem.
Modi claimed that weekly time spent on online gaming increased 60% to four hours when compared to pre-pandemic figures, and that 43 million players in India currently game online.
https://igamingbusiness.com/indian-mp-calls-on-government-to-bring-in-nationwide-online-gaming-laws/
US / Canada
5.??????Oregon sports betting revenue reaches new heights in November
Oregon’s DraftKings-powered sports betting app generated a record total of $4.4m in revenue in November, up 46.5% from October and 7.6% from November 2020.
This is the highest revenue amount since the product launched, breaking a the record set in November 2020, when the app recorded revenue of $4.1m.
Total handle came to $32.6m, down by 13.2% from the $37.6m recorded in October. However, this was an increase of 30.5% on a year-on-year basis.
?6.??????VA surpasses $2.3bn in total wagers after setting new handle record in October
Consumers in Virginia spent a record $427.3m (￡323.4m/€378.4m) betting on sports in October, taking the total amounts wagered since the state’s market launched in January to $2.39bn.
October’s handle was 50.5% higher than the $427.3m spent by players in Septemberand comfortably beat the previous monthly record of $304.1m set in March.
Players won a total of $397.2m from sports betting in October. After subtracting $15.8m in bonuses and promotional bets, and $4.6m in other deductions, this left $9.8m in adjusted gross revenue, down 4.9% from $10.3m in September.
?7.??????Ohio Sports Betting Bill Passed by State Lawmakers, Now Heads to Governor’s Desk
Sports betting in Ohio will start no later than Jan. 1, 2023, after the legislature passed HB 29 December 8th afternoon.
The work went quickly for HB 29 after a nearly four-hour delay. The conference committee favorably reported the bill in under five minutes and it took fewer than 10 minutes to accept the conference report on the Senate floor and the House passed the bill later in the afternoon.
The key negotiation point that’s dragged this issue on for months centered on mobile sports betting. The original bill had sports leagues and teams only getting one skin each while casinos and racinos could operate two.
Now, those teams, leagues, casinos and racinos can launch one skin each with a chance at a second. A second skin can be launched but the licensee must prove it will have an incremental economic benefit to the state.
There can be more than 25 mobile licensees as long as those applying can demonstrate Ohio needs more online sportsbooks. Any licensee approved after the first 25 will only get one skin each.
Another important note is that taxation did not change. Sports betting revenue will be taxed at 10%.
?8.??????Hard Rock takes sportsbook offline after court ruling
Hard Rock Sportsbook, owned by Florida's Seminole Tribe, has suspended betting on its platform within the state after a court ruled the tribe's compact allowing sports betting was invalid.
The platform has ceased accepting new bets, accounts and deposits, although the app will remain active for customers to withdraw funds.
All active bets for events before 11am on 4 December 2021 will be settled as normal, while all bets concerning events that fall after that cut off will be voided and players will be reimbursed.
?9.??????$3bn casino with crypto trading floor proposed for New York
A pitch for a new $3bn casino in New York has been submitted, with the project backed by a Las Vegas asset manager and Japanese gaming company Universal Entertainment.
The location is planned for Manhattan, though this may change to either Long Island or other neighbouring counties depending on the ruling of local officials, who have previously opposed casinos in the area.?
The planned casino has been given the name ‘Mirai’, which translates to ‘future’ in Japanese. Jason Ader, a former Las Vegas Sands board member, heads up the project in partnership with Universal Entertainment, and with the financial backing of 26 Capital Acquisition Corp.
Ader’s proposal will include plans for a crypto-trading floor, likely the largest in the world, as well as a futuristic flying car landing pad. To ensure that the casino tailors to modern-day trends, the plan will also include an esports arena and separate venue for large events.
#M&A & Finance
10.??GiG secures €45m bond placement to drive media growth
领英推荐
Finansinspektionen, Sweden’s Financial Supervisory Authority, has approved the prospectus of Gaming Innovation Group (GiG) to list SEK 450 million (€45m) of senior corporate bonds on the Stockholm Nasdaq on 8 December.????
Last May, GiG governance disclosed that it would pursue issuing a three-year SEK 450 million senior-secured bond placement with a maximum borrowing capacity of SEK 550 million (€55m).
GiG secured its senior bond placement terms on 11 June, priced at a 3-month floating rate of STIBOR (Stockholm’s Interbank charge) of 8.5% per year, with the bond’s maturity dates commencing in June 2024.
?11.??Parimatch Tech acquires mr.fish and PokerMatch
Parimatch Tech has secured two M&A deals to bring mr.fish and PokerMatch under its umbrella as the European sports betting brand looks to expand its entertainment and marketing portfolio.
Mr.fish is a performance marketing company that provides player recruitment and engagement services for iGaming operators, while PokerMatch is a Ukrainian online poker room and ranks among the world’s top companies in its sector.
By integrating mr.fish, Parimatch hopes to improve its marketing technology as it eyes Eastern Europe, where the performance marketing company retains a leading position. It focuses on a wide range of digital services, including affiliate marketing, SEO and retention.
?12.??Former Barstool Sports and FanDuel Executives Launch $200m SPAC
Raising $200m from its initial public offering, Bullpen Parlay aims to execute a business combination with one or more companies, allowing the business it combines with to go public. While it does not have a specific target in mind, it said it was looking toward sectors including real-money gaming, hospitality and leisure.
Its management team includes executive chairman Paul Martino, who helped lead the FanDuel’s acquisition by Flutter in 2018, David VanEgmond is serving as Bullpen Parlay’s CEO (founder and CEO of Bettor Capital) and Melissa Blau will also join Bullpen parlay’s board as a director.
?13.??STS Holding ownership eyeing up future investments following Warsaw IPO
STS Holding SA‘s owners, the Juroszek family, are reportedly planning on making stock purchases and launching an investment arm, according to Bloomberg.
By selling 30% of shares in STS, Poland’s largest sports betting operator, ownership were able to raise 1.08 billion zloty (€235.5m). STS is currently on track to begin trading on the Warsaw Stock Exchange later this week, with the Friday 10 December marking the opening day.
Bloomberg has now reported that Mateusz Juroszek, STS CEO, now aims to create an ‘investment vehicle’ to purchase stakes in high-dividend paying WSE-listed firms.
?14.??Golden Nugget owner seeks to drop merger deal to go public; SPAC threatens legal action
Billionaire businessman Tilman Fertitta is attempting to pull out of an $8.6 billion blank-check deal to take Fertitta Entertainment, his restaurant and casino company, public. The move, highly criticized by special purpose acquisition company (SPAC) Fast Acquisition Corp., could lead to legal action. Fertitta Entertainment owns the Golden Nugget casinos brand, as well as Landry’s seafood chain and Morton’s steakhouses, among others.
Fertitta’s hospitality and entertainment empire’s planned merger with the SPAC has been in development since February. In a letter on Wednesday to Fast, Fertitta Entertainment said that it was now choosing to terminate the agreement after the parties failed to close the deal by the termination date, reports Houston Chronicle.
#Legal:
15.??BtoBet enters highly regulated Polish market with multi-channel BestBet24 launch
Aspire Global’s BtoBet sportsbook platform has made its debut in the Polish regulated betting market, launching via a partnership with local operator BestBet24.
The partnership will see BtoBet provide the Warsaw-based retail and online sportsbook with its Neuron 3 sportsbook platform across both verticals, in addition to a dedicated risk management service.
BestBet24 is a prominent operator in Poland, managing an ‘extensive network’ of 80 retail betting outlets, as well as online and mobile-based wagering services.
https://focusgn.com/btobet-enters-highly-regulated-polish-market-with-multi-channel-bestbet24-launch
?16.??Malta Gaming Authority confirms exit of general counsel Sant
The Malta Gaming Authority (MGA) has announced that Yanica Sant has resigned from her role as general counsel with the national regulator.
Sant will leave the MGA to take up a new role in the private sector but remain in office until February 2022.
However, the MGA said that Sant will no longer perform any regulatory, inspectorate or enforcement duties, nor will she sit on any internal committees.
?17.??Argentinian province of Córdoba introduces online gambling legislation
Lawmakers in the Argentinian province of Córdoba have put forward a bill which would legalise online gaming in the region.
The bill will establish online gaming in Córdoba, defined as “carried out by electronic, computerized, telecommunication means or through other interactive procedures”. The bill currently waits for committee approval after having been introduced on 1 December.
The legislature is designed to eradicate illegal gambling while safeguarding the rights of customers in accordance with the constitution of the province of Córdoba.
?18.??BGaming granted Type A1 Supplier Greek licence
BGaming has received a Type A1 supplier licence from the Hellenic Gaming Commission, which will allow it to supply its games to operators in Greece.
Greek operators can now offer games from BGaming’s portfolio, which includes Fruit Million, Aloha King Elvis and Elvis Frog in Vegas.
“We’re delighted to be awarded a licence by the Hellenic Gaming Commission and be able to provide our content to this regulated market,” said Marina Ostrovtsova, executive director at BGaming.
?19.??KSA targets 15 affiliates for gambling advertising violations
The Kansspelautoriteit (KSA), the Dutch Gambling Authority, has taken action against 15 advertisers, labelling the firms as ‘so-called affiliates’, for marketing illegal gambling products.
A total of 22 investigations were conducted by the authority, which found that 15 websites had been advertising unlicensed online games of chance in violation of the terms of the KOA Gambling Act.
Of the 15 advertisers, 13 have been subjected to a penalty by Dutch authorities, or will be in the near future, whilst an additional two are still under investigation.
The penalty imposed initially takes the form of a cease and desist order, after which the KSA conducts subsequent follow up inspections to ensure that the order is being followed. If the violation has been found to have repeatedly occurred then the ‘imposed penalty will be forfeited’ and ‘must be paid’.
?20.??UKGC orders Greentube to pay ￡685,000 AML settlement
The UK Gambling Commission (UKGC) has taken regulatory action against Greentube Alderney, demanding the operator pay a ￡685,000 penalty in relation to social responsibility and money laundering failures.
An investigation launched by the Commission on 16 December 2020 found that Greentube subsidiaries Admiralcasino.co.uk and Bellfruitcasino.com had failings in money laundering and player protection safeguards.
The Commission’s report stated that between December 2019 and November 2020, Greentube had failed to comply with numerous LCCP requirements in relation to its compliance with money laundering procedures, transfer of funds, record keeping and ensuring safe interaction with customers.
14+ Years in Online Gambling ?? Marketing Director at Vegas Kings ?? Public Speaker on iGaming & Sports Betting in the USA, Responsible Gaming, Cannibalization, Marketing, Affiliation ??
3 年Always super interesting, thanks for taking the time to summarize and sharing! ????