Month: March 2021

Done founded Betfred in 1967, initially as Done Bookmakers, and along with his brother Peter, owns the operator, which is currently the UK’s largest independent retail bookmaker. His current spell as chief executive started in 2016 when John Haddock departed.

Though Done will no longer be chief executive, he will still serve as chairman, and a Betfred spokesperson confirmed to iGB that he would be “going nowhere”. 

Whittaker had previously worked for Betfred as a manager in the IT department, but left to found childcare voucher business Fideliti, which received funding from Done.

Whittaker went on to found financial advice business Angel Advance and lender Workplace Finance.

Earlier this year, the Done brothers were named the UK’s third-biggest taxpayers. Last year, Done acquired a 3% stake in William Hill for an undisclosed sum.

The revenue sharing agreement will grant Premier Gaming access to a range of games from ORYX’s exclusive RGS providers, including Gamomat, Kalamba Games, Givme Games, Golden Hero, CandleBets, Peter & Sons and Arcadem.

Premier will also utilise the ORYX player engagement platform, which includes tools designed to help increase player engagement.

In addition, content from third-party suppliers such as Greentube, Pragmatic Play and iSoftBet, will be added to Premier’s online casinos via Bragg’s ORYX Hub.

Premier, which counts the likes of Pronto Casino, Slothino, Premier Live Casino and Pronto Live Casino among it casino brands, is active in a number of markets, including Sweden, Finland and Germany.

“We partnered with Bragg Gaming because of their world-class gaming content and their state-of-the-art player engagement platform,” Premier’s marketing manager Michael Deuringer said. “We are already seeing promising interest from our quality-loving player base.”

Bragg’s interim chief executive Adam Arviv added: “A key differentiator between Bragg Gaming and competitors is that we have both the delivery platform and our own proprietary content.

“Licensing agreements like the one with Premier are further evidence of our world-class platform and will solidify Bragg Gaming as a leader in the online gambling industry.”

The new agreement comes after Bragg in January set out plans to rapidly expand throughout the US and Canada in 2021, as well as continue to strengthen its presence in core European markets.

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.

Betway had already agreed partnerships with Bundesliga football clubs SV Werder Bremen, Hertha BSC and VfB Stuttgart prior to gaining approval from RP Darmstadt.

“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.

“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.”

The 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.

The first group included  four licences for GVC Holdings, as well as approvals for Gauselmann Group and Tipico, and Austria’s Novomatic. 

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.

Meanwhile, the brand has launched new US-focused programmes aimed at promoting safer gambling for Problem Gambling Awareness Month.

As part of the Pitching In campaign, the grants will give football teams across England and Wales within the Trident Leagues (The Isthmian, Northern Premier and Southern Leagues) up to £4000 to help offset the financial difficulties caused by the pandemic.

This will be the first wave of grants, with a total of £150,000 earmarked for the foundation.

“This is only the start, and yet already we are inspired and enthused by the variety and nature of the projects that have been proposed by the Trident league clubs,” said Ladbrokes PR director Simon Clare.

“We can’t wait to see these projects land in, and make a difference, to communities across England and Wales in the months ahead, at a time when they are needed most.”

Pitchin In ambassador and former England captain Stuart Pearce added: “These clubs will have a vital role to play in the health and wellbeing of society when restrictions ease.

“Initiatives like this will show the true meaning of Pitching In and strengthen existing bonds within communities across the country.

Entain’s giving mood has reached the US as well as the UK.”

In the US, the operator has also launched a series of initiatives in support of the country’s Problem Gambling Awareness Month, which is running throughout March.

Schemes include promoting the Eighth Annual Gambling Disorder Screening Day in tandem with BetMGM, and partnership with the Nevada council on Problem Gambling as a platinum member.

Entain also plans to work with the National Association of Administrators of Disordered Gambling Services (NAADGS),  EPIC Risk Management and Kindbridge in supporting a national survey aimed to provide a support network for those suffering with gambling-related problems across the US.

“It is our ambition, with our partners and support from BetMGM, to provide the most comprehensive portfolio of responsible gambling initiatives, partnerships and services in the gaming entertainment sector in the United States,” said Martin Lycka, senior vice president for American regulatory affairs and responsible gambling at Entain. 

“We are proud of our commitment and will continue our leadership in serving this vital area.”

Within the gaming segment, revenue from gaming operations were down 17.3% to $156.2m. However, gaming equipment and system sales dropped 51.6% to $44.0m, while other revenue dropped 97.1% to just $96,000.

Revenue from its fintech division also declined, by 26.8% to $183.4m. Most of this came from cash access services, which brought in $112.0m, down 32.0%. Fintech equipment brought in $24.3m, down 35.9%, while information services and other fintech revenue ticked down by 1.1% to $47.0m.

Expenses also declined, by 11.6%, but were higher than revenue at $389.1m.

Read the full story on iGB North America

The company’s 6.3m issued shares are expected to begin trading with an opening price of €6.00 per share.

In the past year, XB Systems has seen a surge of activity in the esports segment of its business, it said, with the Buff.bet wagering brand recording a large increase in terms of player acquisition, retention and activity on its esports betting markets.

Since adding new esports title Valorant to its portfolio last year, it has managed to provide the widest selection of live betting markets on the title available in the industry, it said.

Through its target markets of the CIS, Europe and Asia, XB Systems expects Buff.bet to consolidate esports as a key wagering vertical and expand to new territories in the next few months.

The operator also recently signed a partnership with affiliate network Catena Media, and through its position on Catena’s AskGamblers site increased its traffic in certain markets by over 27%.

Over the last two years, the operator has made several acquisitions, including Fusion.bet, X-bet.co and eSportbet.

“Today’s news is more than just the next phase in XB Systems’ evolution,” said the company’s chief executive, Daniel Miller.

“It’s a validation for the entire potential that esports is showing over the last several years. The industry is enjoying phenomenal growth and our company’s listing will allow us to raise the profile of the business on a global scale.”

XB Systems brokered an agreement to merge its X-Bet.co esports betting brand with UltraPlay white label site Buff.bet in April last year, in a deal it said would support the planned initial public offering announced today.

The deal saw XB Systems take over the management, operations, domain and assets of the merged business, while UltraPlay remained the platform provider for the brand.

After appeals against the monopoly system were made by private gaming companies – one by Betfair and another by the Dutch Online Gambling Association (NOGA) – the Administrative Jurisdiction Division has rejected the appeals and ruled that the single-permit system for organising lotteries is justified.

It said that the question of whether a single permit system for state lotteries is allowed had already been raised in a ruling in 2018, which saw the KSA provide reasons that the single-licence system is consistent.

The Administrative Jurisdiction Division today ruled that the KSA was consistent in issuing a single lotto licence to Dutch lottery operator Lotto BV while issuing multiple charity lottery licences.

While there are similarities between the state Lotto and charity lotteries, the Division said, there are also important differences.

A key difference is that because the aim of the Lotto is to have as many people as possible gamble through a legal provider, it is important that the market is not divided among several providers.

Otherwise, it said, there is a risk that none of the providers would be powerful enough to present such a large prize pool that the function of directing as many customers as possible to the legal offering could be fulfilled.

The number of draws for lottos is also much higher than for charity lotteries, it said, and lottos contribute a much lower percentage of their proceeds to charities.

The Division ruled that there was therefore sufficient difference in the permit systems to be consistent, meaning the monopoly for the lottery licence can be maintained.

The offering consisted of a brokered portion and a non-brokered portion, accounting for aggregate gross proceeds of $17.0m and $824,700, respectively.

A total of 14.8m special warrants, including an aggregate of 1.7m special warrants issued as a result of the exercise of the agent’s over-allotment option, were sold at a price of $1.20 each.

Each special warrant entitles the holder to receive one unit of the company, with each unit being comprised of one common share, and half of a common share purchase warrant.

Each warrant will entitle the holder to purchase an additional common share of the company at a price of $1.50 for a period of 36 months from the initial closing date of the offering.

The net proceeds of the offering are expected to be used for working capital and general corporate purposes.

“Luckbox’s strong leadership team paired with the current size and growth potential of esports and sports betting led to the offering being heavily oversubscribed, as investors begin to recognize this attractive sector and opportunity,” Luckbox chairman Drew Green said.

“We are grateful to our investors for their support and this financing puts Luckbox in a strong position to execute on our goals as we strive to further establish the business as a global leader in the esports betting space.”

As consideration for its services in connection with the private placement, Luckbox paid to Gravitas Securities, the lead agent in the deal, cash commission equal to $1.4m, and issued it a further 1.1m non-transferrable agent special warrants.

Each agent special warrant is exercisable for one non-transferrable warrant at no additional cost. Gravitas was also paid a fiscal advisory fee for the provision of its advisory services with respect to the non-brokered private placement. The agency received a fee equal to $65,976 and was issued with a further 54,980 advisor special warrants

Under the agreement, 888sport branding will feature on the front of players’ shirts, as well as on various surfaces in and around the team’s Tallaght Stadium home.

Confirmation of the deal comes ahead of the start of the 2021 League of Ireland Premier Division, which is due to begin on 19 March. Shamrock Rovers finished as champions of the previous campaign, going the entire league season unbeaten.

888 already has a presence in the Irish capital of Dublin, with its office, located eight miles from the Tallaght Stadium, employing 140 people.

“The team at 888sport share our desire for success and we look forward to working with them to build a strong relationship over the next two seasons,” Shamrock Rovers chairman Ciarán Medlar said.

888 vice president and head of 888sport, Kieran Spellman, added: “The club enjoyed a fantastic season last year and is back fighting for a place in the Champions League for the first time in a decade.

“As a sizable employer in Dublin, committed to Dublin and to the Irish market, we are very much looking forward to playing our part in supporting our local team.”

Following the initial launch on Unibet’s UK and .com sites, Playtech Casino will subsequently be rolled out across further regulated markets including Sweden, Belgium and Romania.

Playtech said the two companies share the values of raising standards in safer gambling and responsible business, and that Kindred Group is a leader and innovator within the online gambling industry.

“We are thrilled that Kindred Group has chosen Playtech as its technology partner, highlighting the continued strength of our casino offering,” said Playtech’s chief operating officer Shimon Akad.

“This is a great example of Playtech’s commitment to partnering with the right companies to bring great entertainment to new and growing markets.”

David Robertson, head of casino at Kindred Group, added: “Playtech’s innovative and engaging content will provide a fantastic level of entertainment to our international audiences and we’re delighted to be working with them.

“This will be a very exciting partnership for both companies, and we look forward to developing this partnership further in the months and years to come.”

Results published in February showed that Kindred Group’s full-year revenue surpassed £1bn in 2020, as revenue for the year increase 23.9%. Casino revenue for the year was up 35.0% to £579.0m.

Last week, Playtech announced the appointment of 888 Holdings chairman Brian Mattingley as its new non-executive chairman, effective form 1 June.