Vegas Kings positioned for US betting expansion 17th August 2018 | By contenteditor Web design agency looks forward after Resorts Digital extension Vegas Kings believes it is ideally positioned for the projected betting explosion across the US after extending its deal with Resorts Digital in the same week that the Atlantic City casino’s sportsbook went live in New Jersey.The web design agency has renewed its long-standing digital creative retainer with brands ResortsCasino.com and MoheganSun.com, just days after Resorts Casino opened its brick-and-mortar sportsbook and a fortnight after the casino’s licensee DraftKings launched New Jersey’s first legal mobile betting site.South Africa-headquartered Vegas Kings handles all the daily creative and web development requests ranging from online acquisition banner creatives, social media adverts, HTML mailers, video production promoting new games to full HD TV adverts, billboards and website back-end development. Resorts Digital’s two brands have generated internet gaming win of around $26.5m (£20.8m/€23.3m) so far this year, making it the third biggest online gaming platform in New Jersey.While Vegas Kings said it was too soon to discuss any specific plans for Resorts Casino’s digital sports betting strategy, it has many years’ experience in brand development, UI/UX and sportsbook development and integration.“It’s indeed an exciting time in the US regarding regulation and sports betting,” Ashley Adir, Vegas Kings’ CEO, told iGamingBusiness.com.“Over the last few years Vegas Kings has really positioned ourselves well in the US market to take advantage of all the opportunity and work that’s currently opening up state by state.”Vegas Kings has a series of existing partners within the sports sector, including Ladbrokes, Betfair and Betfred.For now, it will continue to assist ResortsCasino.com and MoheganSun.com in their growth plans in New Jersey, with Adir explaining that an effective digital strategy is essential for operators determined to succeed in the US’s most competitive state for gambling outside Nevada.“New Jersey is such a competitive and small market that operators are striving to try and distinguish their offering and stand out from the crowd,” Adir told iGamingBusiness.com.“By having a strong content strategy that crosses over from offline, to online and all the way through to social is extremely important and a necessity.“Vegas Kings helps its clients on a daily basis producing creative to support their constant conversation with new and existing players.”In a statement, Ed Andrewes, Resorts’ CEO of digital, agreed that digital creative output has been key to its progress.He said: “We love working with Vegas Kings and were so excited and thrilled to sign another year with them. Without them, being one of the leading operators in New Jersey would not be possible.”Picture credit: B64 Casino & games Email Address AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Regions: US Subscribe to the iGaming newsletter Topics: Casino & games Tech & innovation
AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 14th January 2019 | By contenteditor Subscribe to the iGaming newsletter DraftKings apologises for betting championship furore Regions: US Topics: Sports betting DraftKings has issued an apology after controversy dogged the finale of its first-ever Sports Betting National Championship on Sunday. The competition’s leader was not able to place bets on the final National Football League (NFL) playoff game of the weekend because his previous wagers had not been processed, causing him to miss out on a chance of winning the $1m first prize. DraftKings has issued an apology after controversy dogged the finale of its first-ever Sports Betting National Championship on Sunday.The leading competitor was not able to place bets on the final National Football League (NFL) playoff game of the weekend after his previous wagers had not been processed, causing him to miss out on a chance of winning the $1m top prize.The Sports Betting National Championship saw 260 entrants, who either won their way into the tournament or put up the $10,000 entry fee, compete to see who could record the greatest winnings from a $5,000 pot. New Jersey-based contestants could make bets via the DraftKings mobile app on any sporting event on Friday (January 11) and Saturday (January 12), but Sunday’s (January 13) action was limited to the two National Football League (NFL) playoff games.While punters could place bets throughout the first of the NFL games, between the New England Patriots and Los Angeles Chargers, all wagers had to be placed before the start of the final game, between the Philadelphia Eagles and New Orleans Saints.The first game finished late, which meant there was only seven minutes for many bets to be processed before the start of the second. The bettor Rufus Peabody, who had topped the leaderboard at the end of the first game, had placed all his money on the Patriots victory, and while successful he did not have access to his pot before the start of the Eagles-Saints game.DraftKings said the competition had been a success but admitted the competition rules were flawed and would be revisited before future events.“The first-ever Sports Betting National Championship was an incredibly thrilling event,” said James Chisholm, director of public affairs for DraftKings, in a statement.“We recognise that in the rules the scheduled end of betting coincided very closely to the finish of the of Patriots-Chargers game,” Chisholm explained. “While we must follow our contest rules, we sincerely apologise for the experience several customers had where their bets were not graded in time to allow wagering on the Saints-Eagles game.“We will learn from this experience and improve upon the rules and experience for future events,” he added.Eventual winner Randy Lee, of New Jersey, finished with winnings of $101,472, having accrued $81,892 of the total in the Patriots-Chargers game. Sports betting Email Address
AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter iGaming Business has partnered with Propus Partners and Clear Concise Media to produce an exclusive 78-page report on the latest developments in the sports betting and data supply chainTo find out more details please fill in your details below, alternatively, please email [email protected] Subscribe to the iGaming newsletter Sports betting 22nd January 2019 | By Louella Hughes Topics: Sports betting Game State 2019 Email Address
AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Address Happy Friday igamers! This week we take a leaf out of William Hill’s books, hear why operators are disgruntled about Sweden and ponder the prospects of another lottery innovator Down Under That’s your lot! See you next week. iGB Diary Tags: Online Gambling OTB and Betting Shops iGB Diary: Rent cuts, Sweden’s challenges and Déjà vu Down Under Regions: Asia Europe 29th March 2019 | By Joanne Christie Topics: Legal & compliance Lottery Marketing & affiliates People Sports betting iGB Diary Happy Friday igamers! This week we take a leaf out of William Hill’s books, hear why operators are disgruntled about Sweden, celebrate some good PR for the industry and ponder the prospects of another lottery innovator Down Under.Please can we just pay half? Diary was inspired by news of William Hill’s rather bold request that landlords across its 2,000 retail shops cut its rent by 50% in a move that pre-empts the huge losses about to come as a result of the FOBT ban. We decided if it’s good enough for Hills to suggest that, “our hope is that for many landlords, a shop paying a lower level rent is better than an empty shop”, maybe it’s good enough for us too. So here goes:Dear mortgage lender,As you may be aware, the UK’s current politicians seem completely incapable of agreeing on any kind of orderly Brexit and it therefore seems likely we’re about to crash out of the EU in two weeks.We therefore expect rampant inflation and are unsure about how we will even afford groceries under such circumstances. As you know from last week’s Diary, we have been diligently stockpiling toilet rolls. We’ve also been stocking up on other tinned goods. However, we still feel that it might be a bit of a stretch to pay our mortgage. Please could we just pay half? We hope you will think that’s better than us moving out, handing you the keys and you getting practically nothing for our property, which is all it will be worth in a few months as London prices apparently are going to nosedive due to a hard Brexit.Yours sincerely, As-yet-unaffected-but-expecting-to-be-hit-hard reporterSweden. Not like Denmark It’s not just in the UK that operators are struggling – market conditions in Sweden inevitably dominated discussion at yesterday’s Nordic Affiliate Conference. The operator consensus is that they are finding the market stricter than anticipated since the transition from grey to white on 1 January, as reflected by the various actions since taken by the Spelinspektionen and the Swedish Consumer Agency. One of the affiliate managers we spoke to was literally bewildered: “A regulated market means the freedom to advertise yet they are telling us not to be too aggressive.” On the day’s first panel, Maria McDonald of Nordic Gambling, formerly of Kindred, said the industry was largely “disappointed” that the situation was not more akin to Denmark, where they could go to the regulator for guidance with regard to the many grey areas that inevitably exist while any new regulatory framework is bedding down. LeoVegas’s general counsel Vala Karimi told the audience, “they have come down on us too soon”. That said, when the Diary flicked on Swedish TV last night, the first ad break it saw consisted entirely of gambling ads. Stakeholders clearly find themselves caught between two competing impulses: on the one hand aware that carpet-bombing all available channels probably isn’t in its collective interest given the political shift against the pervasiveness of its advertising across Europe; but on the other aware that if they fail to cut through the noise of the 60-plus brands in the early days of the market, many will not be there in a year’s time. More action by the Swedish regulator with regards to bonuses also seems inevitable, given their relative tolerance so far of operators trying to circumvent the bonus cap now in place. The letter received by one operator this week informing them that it regards free spins as a bonus and therefore subject to the new restriction of one per player as a welcome incentive will surely be followed by others.Déjà vu Down Under Another company we predict might be getting a letter from authorities soon is The Lottery Office in Australia. Diary was pretty surprised to see write-ups in The Daily Mail and News.com.au this week about a new entrant to the market, The Lottery Office, that claims it definitely doesn’t operate in a “grey area” and is totally legit as it buys matching tickets in Aus. If asked to pick one type of vertical they’d stay well clear of Down Under we’re guessing the first thought in many industry bods’ heads would be lotteries given the massive storm created by Lottoland, which was ultimately pushed out by monopoly operator Tatts. So we were especially amused by The Lottery Office’s general manager’s comment to News.com.au that, “I’m sure Tatts doesn’t mind”. We think it has been clearly established that Tatts does in fact very much mind if anyone tries to compete with it. Oh, and so do the newsagent bodies, one of which has already complained about the new competition. Granted, “The Lottery Office’s Gotta Go” isn’t quite as catchy as “Lottoland’s Gotta Go” was, so Tatts and the newsagents may not be able to simply cut and paste a new campaign. Still, we’re pretty dubious about this company’s prospects. Who wants to place a bet on how long it will last?Good PR for a change On a brighter note, while social media is awash with stories about pissed off punters complaining about bookies not paying out, cancelling bets and the like, we predict many will be happy with the announcement that BetVictor will be reinstating and paying out all ante post bets placed with BetBright, which closed suddenly earlier this month. It’s especially good to see the resolution was put together by the company’s former executive chairman Rich Ricci. The only downside is that it doesn’t apply to the Cheltenham Festival. Considering obviously it’s only those who would have won their bets that are likely to front up to have their bets reinstated and therefore paid out by opening up an account with BetVictor, we think it’s likely to lead to some pretty happy punters – many of whom will have replaced the bets in the meantime and will therefore end up being paid out twice.Down with this sort of thing Yesterday’s NAC also saw four players involved in a payout dispute with Betsson/Nordicbet stage a mini protest outside the venue. Unfortunately the operator, presumably super busy following the long-awaited opening of the market in its homeland, didn’t actually have anyone in attendance at the event, rather defeating the object of the protestors’ presence there. Without at all wanting to make light of the dispute or either parties’ position in it, the Diary however couldn’t help thinking that they could have made a bit more effort with their signage, which to put it kindly, looked like something of a hasty afterthought mocked up following a visit to the nearest supermarket. And is the protestor on the right really protesting or just waxing their surfboard? The Diary however hopes for a speedy resolution of matters to both parties’ satisfaction. Subscribe to the iGaming newsletter
Subscribe to the iGaming newsletter Topics: Lottery Sports betting 18th April 2019 | By contenteditor Kambi lands sportsbook deal for Moldovan National Lottery Lottery Email Address Bulgaria-based gambling operator National Lottery JSC has selected Kambi to support the launch of a new online and retail sportsbook service with the Moldovan National Lottery.Sports betting is currently prohibited in Moldova, but the country passed new laws in 2016 to regulate the activity under a monopoly framework. National Lottery JSC recently landed the contract after a successful tender process.National Lottery JSC agreed to run both its national lottery product and a brand new online and retail sportsbook for the Moldovan National Lottery, as part of a public-private partnership that will run for 15 years.Kambi already provides its sportsbook and managed services to the National Lottery JSC’s 7777.bg brand in Bulgaria and will now extend this service into the Moldovan market.National Lottery JSC and Kambi plan to roll out the online sportsbook within the next few months, with the retail service to follow shortly after. “When replacing our previous sports betting supplier with Kambi, we did so with the goal of becoming a market leader in Bulgaria, a position we’ve achieved well ahead of time,” National Lottery JSC managing partner Milen Ganev said.“This triumph, coupled with Kambi’s scalable technology, gives us the freedom to expand into new markets, beginning with Moldova and the Moldovan National Lottery monopoly later this year. We therefore decided to extend our contract with Kambi, enabling us to enter the next chapter of our exciting growth story with confidence.”Kambi CEO Kristian Nylén added: “For the 7777.bg brand to be among the market leaders in Bulgaria within 18 months of partnership is testament to the quality of the Kambi sportsbook, as well as the National Lottery’s marketing expertise.“I’m delighted we’ve agreed to take the partnership to Moldova, where I’m confident players will enjoy our exciting sports betting experiences in both the online and retail environments.”The new deal between Kambi and National Lottery JSC replaces the initial partnership that the two parties agreed in July 2017.Image: Aurelian Sandulescu AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Bulgaria-based gambling operator National Lottery JSC has selected Kambi to support the launch of a new online and retail sportsbook service with the Moldovan National Lottery.
Topics: Casino & games People Strategy Tech & innovation Bingo Bingo Email Address Microgaming names Leon Thomas managing director of bingo 3rd June 2019 | By contenteditor Isle of Man based igaming software supplier Microgaming has appointed Leon Thomas as its new managing director of bingo.Thomas has more than 10 years’ industry experience, and joins from games developer Instant Win Gaming (IWG), where he served as chief commercial officer.In his new role, he has been tasked with maximising the success of the bingo vertical, developing a long-term business strategy and capitalising on commercial opportunities.Thomas has a particularly strong grounding in online bingo, having served as managing director of Tombola, where he launched the brand in Italy and Spain, as well as consolidating its leading position in the UK.He has also held senior roles for the Rank Group’s Mecca Digital division, Caesars Entertainment and NYX Gaming Group.“We are pleased to welcome Leon to the Microgaming family,” Microgaming chief executive John Coleman said. “With his immense experience in online gaming and knowledge of both B2B and B2C industries, Leon will play a leading role as we continue to maximise the value, success and growth of our bingo vertical.”Thomas added: “I am delighted to be appointed Managing Director of Bingo for one of the gaming industry’s foremost entertainment providers.“Microgaming has a fantastic platform, and given its scale and reach, it is set to substantially grow the bingo side of its business.” Regions: UK & Ireland Subscribe to the iGaming newsletter Tags: Mobile Online Gambling Isle of Man based igaming software supplier Microgaming has appointed Leon Thomas as its new managing director of bingo. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter
Legal & compliance Topics: Legal & compliance Sports betting The Swedish Football Association (SvFF) has hit out at the country’s gambling regulatory body Spelinspektionen for not prohibiting licenced operators from offering betting on a domestic club football competition, despite its warning of suspected match-fixing.Last month, the SvFF revealed that it had received reports of match-fixing in 13 games in Division 2 Södra Svealand and advised Spelinspektionen to implement a prohibitive ban on operators allowing betting on the competition.However, Spelinspektionen declined this request, saying that the Swedish Gaming Act does not support prohibitions or other such measures to combat the manipulation of sporting results. The regulator also said it is working to develop regulations that will address the SvFF’s concerns.The SvFF has now hit back, with its general secretary, Håkan Sjöstrand, saying the organisation does not agree with the regulator’s “narrow interpretation” of the Gaming Act.“It must be possible for the responsible authority to make quick decisions in more urgent situations of this kind, otherwise, this must be clarified in the legislation,” Sjöstrand said.The SvFF also wrote to a number of gambling operators in Sweden, requesting that they halt any betting on the division. Svenska Spel has already confirmed it is no longer allowing betting, while Bethard, 888 and Unibet have also indicated they will follow suit.“We hope that all serious companies will follow, despite the Spelinspektionen’s negative position,” Sjöstrand said. “We cannot wait for the authority to finalise its regulations or to change the law.”As a result, the SvFF has committed to adopting enhanced measures to safeguard Division 2 Södra Svealand from manipulation for the rest of the season. This will include increased monitoring of matches and intensified monitoring of the gaming market to detect any deviations.“We are forced to devote considerable resources to monitoring and other measures,” said Sjöstrand, who also urged authorities to join the organisation in the “fight” against corruption in sport. Email Address 5th August 2019 | By contenteditor AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Tags: Online Gambling Regions: Europe Nordics Sweden Swedish FA blasts regulator in football betting suspension row The Swedish Football Association (SvFF) has hit out at the country’s gambling regulatory body Spelinspektionen for not prohibiting licenced operators from offering betting on a domestic club football competition, despite its warning of suspected match-fixing. Subscribe to the iGaming newsletter
8th January 2020 | By Daniel O’Boyle Subscribe to the iGaming newsletter DraftKings reveals $114.1m loss in SBTech merger statement Regions: US AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Diamond Eagle Acquisition Corp – the special purpose acquisition company formed as part of DraftKings and SBTech’s merger – has filed a registration document revealing DraftKings made a loss of $114.1m (£87.1m/€102.7m) in the first nine months of 2019. Tags: Online Gambling Email Address Topics: Finance Strategy Finance Diamond Eagle Acquisition Corp – the special purpose acquisition company formed as part of DraftKings and SBTech’s merger – has filed a registration document revealing DraftKings made a loss of $114.1m (£87.1m/€102.7m) in the first nine months of 2019.The document also confirms that DraftKings will – eventually – migrate from its current sportsbook technology partner Kambi to SBTech’s solution.In the prospectus, filed with the United States Securities and Exchange Commission (SEC), the acquisition company revealed that DraftKings’ revenue for the nine-month period came to $192.0m, a 44.3% year-on-year increase.DraftKings’ direct costs of revenue, however, were up to $64.7m, a 143.5% increase. The business said that product taxes, platform costs, and payment processing fees and chargebacks contributed $13.1 million, $12.4 million and $6.4 million, respectively, to the $38.2m increase in costs of revenue from 2018.Read more on iGB North America.
Subscribe to the iGaming newsletter Regions: US 29th January 2020 | By contenteditor Penn National Gaming (PNG) has entered into an exclusive sports wagering and online casino partnership with Barstool Sports, in a deal that will also see the operator acquire a 36% stake in the digital sports media company.Under the arrangement, PNG will pay $163m (£125.3m/€148.2m) for the stake, securing its position as Barstool’s exclusive gaming partner for up to 40 years.PNG will fund the purchase with $135m in cash and $28m in share of non-voting convertible preferred stock. After three years, PNG will increase its ownership to approximately 50% with an incremental investment of approximately $62m.The deal will also give PNG the sole rights to use the Barstool brand for all of its online and retail sports betting and online casino products. The operator has already begun taking over operation of its bricks-and-mortar sportsbooks, and is in the process of developing a mobile product, in partnership with Kambi. This is likely to launch in the third quarter of 2020.“With its leading digital content, well-known brand and deep roots in sports betting, Barstool Sports is the ideal partner for Penn National and will enable us to attract a new, younger demographic, which will nicely complement our existing customer database,” PNG president and chief executive Jay Snowden said.Read the full story on iGB North America. Topics: Casino & games Finance Sports betting Penn National seals Barstool Sports partnership Tags: Online Gambling Penn National Gaming (PNG) has entered into an exclusive sports wagering and online casino partnership with Barstool Sports, in a deal that will also see the operator acquire a 36% stake in the digital sports media company. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Casino & games Email Address
AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter This came despite a $39.0m loss from the provision of gaming-related services, again due to the impact of Covid-19 on the operator. With the exception of mall activities, where revenue was up 88.5% to $14.7m, all other areas of the business saw revenue fall in the first three quarters of 2020. Regions: Macau It was not until late September that restrictions on entry from China’s mainland, Hong Kong and other locations to the Special Administrative Region were eased and visas once again issued. Limited transport to Macau and Covid-19 quarantine requirements, which are again only recently being eased, also hit visitation. Macau integrated resort operator Studio City International posted $98.2m (£75.0m/€82.9m) net loss for the third quarter, as performance continues to be hurt by continuing restrictions related to the novel coronavirus (Covid-19) pandemic Finance Total non-operating expenses reached $103.1m, leaving a $331.7m loss before tax, down from a $16.9m profit last year. Studio City received $106,000 in tax credits in the, and also saw a $71.4m profit from participation interest, but this still left a net loss of $260.1m, compared to $12.8m in profit last year. Looking at Studio City’s year-to-date performance, total operating revenue for the nine months to 30 September was $25.5m, down 94.4% on last year. 5th November 2020 | By Robert Fletcher Studio City also reported $48.5m in non-operating expenses, including $30.0m in interest costs and an $18.5m loss on extinguishment of debt, which in turn led to a $121.1m loss before tax, compared to an $18.7m profit last year. Total operating revenue in the three months to 30 September amounted to just $900,000, a drop of 94.3% from $158.1m in the corresponding period last year. Rooms revenue plummeted 88.1% to $2.6m, food and beverage revenue slipped 73.1% to $4.6m and entertainment revenue 97.5% to $134,000. Revenue from service fees more than halved from $10.5m to $4.6m, while mall revenue to $5.2m, and retail and other revenue to $319,000. Subscribe to the iGaming newsletter Despite making savings across the business, the sharp drop in revenue led to an operating loss of $72.5m, compared to a $47.6m profit in Q3 last year. Adjusted loss before interest, tax, depreciation and amortisation (EBITDA) stood at $30.2m, down from a positive result of $90.9m in 2019. General and administrative costs were reduced by 56.8% to $15.2m, while food and beverage spending was also cut by 68.3% to $4.5m. The operator did receive $36,000 in income tax credit in Q3, and also benefitted from $22.9m worth of profit from participation interest, but it still posted a net loss of $98.2, in contrast to a $14.3m profit in the same period in 2019. Looking at costs for the quarter, total operating expenses stood at $73.5m, down 33.5% year-on-year. Tags: Finance Studio City Both gaming revenue and non-gaming income was all but wiped out by the Covid-19 crisis, which has caused tourism to Macau to largely dry up. Operating costs were down 26.0% to $254.1m, but lower revenue meant Studio City posted an operating loss of $228.6m for the period, compared to a $115.8m profit in 2019. Topics: Casino & games Finance Q3 results 2020 Gaming-related service costs climbed 29.8% to $7.4m, while savings were also made across rooms, entertainment, mall and retail. Depreciation and amortisation charges, meanwhile, were marginally up to $41.5m. Covid-19 restrictions lead to further losses at Studio City in Q3 Email Address As such, the provision of gaming-related services in Q3 generated a loss $16.5m, compared to $96.7m in revenue during Q3 last year.