Month: July 2021

Entain said that within a year, headcount will double to around 300 people across its three in-house studios in the UK, Italy and India, in order to create new products across all its markets, including the US.

Entain’s UK-based studio near Oldham, CR Games, will initially create 8 new roles, bringing its headcount to around 50.

The new content will include free-to-play slot tournaments, and following the recent sponsorship between Entain’s PartyCasino and PartyPoker brands and McLaren, the operator will also develop exclusive Formula 1-themed casino content and games later this year.

The operator said it is also developing new experiences for customers using immersive technologies, with its first virtual reality product for customers – a multi-activity sports club – due later in the year.

The game studios are also adapting their content for more international markets, with Win Studios tailoring Entain’s core bingo product to create a sports-themed gaming experience for customers of its Sportingbet brand, for example.

“We love giving our customers great experiences and exciting entertainment as that is the bedrock of what we do,” said Jette Nygaard-Andersen, chief executive of Entain. “Increasing our investment across all three of our in-house games studios will provide more of that for our customers across all our global brands.

“By widening our offer with new and exclusive games, such as free-to-play tournaments, we give existing and new customers more reasons to use our products. This not only helps to grow our business but brings fresh insight, so we can further improve the offer for our customers.”

Colin Cole-Johnson, Entain’s gaming director, added: “Developing more of our own games means we have complete control over what goes into them, not just in giving our customers a great experience, but also keeping them safe.”

A trading update published earlier today (8 July) showed that Entain had upped its earnings forecast for the full year 2021 to between £850m and £900m, after a strong first half of the year saw sports betting and retail revenue grow year-on-year, while online revenue remained stable.

The deal will apply to Colombia’s first and second flights of domestic football, as well as Colombia’s domestic knockout cup competition and the annual Superliga event, all of which carry the name of title sponsor BetPlay.

Data for all of these competitions will be supplied to Genius Sports’ network of more than 150 sportsbook operators.

In addition, Genius will provide DIMAYOR with its bet monitoring system, which allows the competition to be alerted to any potentially suspicious betting activity.

“The partnership between Genius and Colombian Professional Soccer is very important and a reflection of the growing global interest in our product,” DIMAYOR president Fernando Jaramillo said. “It is very rewarding that a multinational company with recognition in the fields of official data for betting and more is interested in our competitions and invites us to seek methods so that we continue to grow. 

“The clubs and DIMAYOR hope to repay Genius’ trust and that this alliance will be renewed and expanded to the extent that we are all pleased with what we can obtain from each other.”

Mark Locke, CEO of Genius Sports, said the deal reinforces the supplier’s commitment to Colombia.

“Colombia has been pivotal to the global success of Genius Sports since we first opened our LATAM headquarters in Medellin in 2016,” he said. “Expanding our partnership with DIMAYOR, one of Colombia’s premier sports organisations, is another major milestone that will help drive the league’s expansion and deliver even more premium content to our sportsbook partners around the world.”

Earlier this year, Genius went public on the New York Stock Exchange, through a combination with special acquisition company (SPAC) dMY Technology Group Inc. II.

PLBY Group has partnered with the software platform provider and owner of the Mexico-based online casino and gaming brand Vale to create a new Playboy-branded, skill-based, real-money Rummy mobile game for release later this year.

PLBY, which has been targeting growth in Asia for some years, cited a Deloitte India study which said forecasts that the online gaming industry in India will grow at a compound annual growth rate of 40% to $2.8bn by 2022, up from $1.1bn in 2019.

“India is an important and growing market for Playboy,” said Reena Patel, international president at PLBY.

“Our partnership with Gametech will cater to the young consumer’s desire for the Playboy brand in India across gaming and other categories including retail, beauty, venues, and hospitality.”

Earlier this year, Playboy expanded its global consumer products business into India in partnership with Jay Jay Iconic Brands, a leading fashion and lifestyle company in India.

Jason Drummond, founder and chief executive of Gametech, said: “We are thrilled to partner with Playboy to launch real money, mobile, skill-based games in India.

The potential market for online games of skill in India is still developing, and we believe that through this partnership with such an iconic brand, Gametech and Playboy can create a substantial presence in the Indian market and provide consumers fun and authentic games unlike no other partners in the territory.”

In his new role, Brees will feature in PointsBet’s original content, lead promotional concepts and partake in providing sports education and commentary.

Brees – who was selected as Super Bowl XLIV MVP during his career with the New Orleans Saints – is currently transitioning to a broadcasting role with PointsBet’s official sports betting partner, NBC Sports.

Read the full story on iGB North America.

Around 400 police forces, including special forces and tax investigators, were involved in the large-scale raid near the French border, which Interior Minister Klaus Bouillon said was a blow against illegal gambling in the region.

Those arrested, according to the SR.de website, are under suspicion of commercial fraud and illegal gambling. The accused are said to have manipulated the software of gaming machines to distribute fewer winnings.

Documents, cell phones and gaming machines were seized in relation to the arrests. The police also confirmed to the SR.de website that a police officer was one of the suspects and had been detained prior to the raid.

Sottosanti joined Penn National Gaming from 2003 as vice president of legal & business affairs and deputy general counsel, and was promoted to general counsel in 2014, where he worked until leaving his post in 2020.

The operator at the time said he helped to “drive the company’s growth and evolution from a small regional gaming operator into the nation’s leading omnichannel provider of retail and interactive gaming”.

Compliable was formerly known as Rebric and is working on a platform to help sportsbook operators secure licenses for their employees in the US.

Read the full story on iGB North America

Balchin joined the affiliate marketing group just 17 months ago and during that time has assisted the operator in its acquisitions of CBWG Sports and Sports Betting Dime, worth more than a combined $45.0m.

Ellis, who has been working as a financial consultant to XLMedia since last April, will assume the new position when Balchin departs on 22 July, but will not join the board at this time.

Ellis has provided support across XLMedia’s business, including its broader M&A strategy and the CBWG Sports Betting Dime deals. He has held senior positions at a number of leading finance institutions including Co-operative Bank, RBS and WorldPay Group.

Chris Bell, non-executive chair of XLMedia, said: “On behalf of the board, I would like to thank Iain for his contribution to the business and wish him every success for the future.

“We have now commenced the search for Iain’s long-term successor, but believe that, in Rowan, we have someone who already has a good understanding of our business and the finance function and has been central to a number of key initiatives already implemented.”

Balchin’s departure comes just over a week after XLMedia announced Nigel Leigh as its new chief information officer with immediate effect.

In May, XLMedia forecast a year-on-year revenue growth for its 2021 financial year, despite expecting “ongoing weakness” in its European casino business.

Revenue is likely to reach between $65m (£47m/€55m) and $70m, with the lower end of this estimation representing an 18.2% year-on-year increase on the $55m posted in 2020, and the upper end of the forecast a 27.3% rise.

XLMedia completed the acquisition of sports gaming and sports betting business CBWG Sports in December 2020. XLMedia announced it would pay an initial $12.0m in cash and issue 7,954,546 new shares – at an aggregate value of $3.5m – to take ownership of CBWG.

In March 2021, XLMedia completed its acquisition US-focused sportsbook review website Sports Betting Dime for £26.0m.

Speaking at a PDP–Laban party conference, Duterte suggested that the country’s efforts to contain Covid-19 depleted its cash reserves. He also stressed that the scientists fighting against the virus need as much financial support as possible.

After being hesitant to support gambling in the Philippines in the past, Duterte suggests that such activities should be allowed now with the country in need of tax revenue. He cited his previous opposition to the construction of new casino resorts as proof of his prior stance.

“Go ahead and gamble,” Duterte said.

“When I was President before, I said ‘I don’t want to gamble’ and I never allowed it. But when the pandemic came, we ran out of money. We have a reserve which we have used to contain the virus from rampaging all throughout the country.

He added that while there may be moral objections, these are outweighed by the impact that extra tax revenue would provide.

“But now because we need money, the most sensible thing is really just to encourage those activities, though it may sound repugnant to some. We really need the money.”

Duterte has shown support for the country’s offshore gambling industry in the past, after ignoring calls from China to ban online offshore gaming within the country. This came at a time when the Philippine Amusement and Gaming Corporation (PAGCOR) stopped granting licences to offshore operators temporarily. However, there was greater opposition to allowing gambling within the country.

More recently, however, the country has taken steps to allow domestic online gambling. Earlier this year, regulator PAGCOR gave its approval for operator Tiger Resort, Leisure and Entertainment approval to enter the online gaming market.

Playtech’s board had agreed in May to sell the division to a consortium led by Barinboim Group and backed by Leumi Partners and Menora Mivtachim Insurance. The deal would be worth up to $210m, with an initial up-front payment of $170m, a deferred but guaranteed $15m payment and the remaining $25m paid based on performance.

However, last week, Playtech minority shareholder Gopher Investments produced its own $250m all-cash offer. It then encouraged Playtech to delay its general meeting – in which shareholders would vote on the Barinboim bid – in order to agree terms on the new offer.

While advisory body Institutional Shareholder Services backed the Gopher bid, Barinboim warned that the deal would create uncertainty and destabilisation for Playtech, as it did not have the certainty of the break clause agreed in the consortium offer.

In response, Gopher has now improved its bid, adding a $10m break fee. Gopher must pay the fee to Playtech if it does not enter into an official sale and purchase agreement on terms “materially equivalent” to the consortium bid within three weeks of the start of the due diligence process. The fee must also be paid by Gopher if the deal fails to receive regulatory approval.

“The break fee is also subject to Playtech engaging properly with Gopher and acting reasonably and in good faith, and would not be payable if Playtech subsequently enters into a transaction for Finalto with a third party,” Gopher added.

Gopher also pointed out that the break fee is 13.6% higher than the $8.8m break fee agreed with Barinboim. If Playtech was to accept the Gopher deal, it would be forced to pay this $8.8m fee to Barinboim for breaking its agreement.

“Gopher is the second largest shareholder in Playtech, with approximately USD 100 million of capital invested, and is therefore fully aligned with all other shareholders in supporting the Board to deliver maximum value for all shareholders,” Gopher added.

The investment group also again urged the supplier’s board to postpone its 15 July general meeting, and said that if it does go ahead, shareholders should vote against the consortium’s bid.

The tool was developed in conjunction with Pariplay, and Aspire said it offers better returns for casino players in the German market, while effectively lowering the tax burden for operators.

BuyWin is now live with Aspire’s leading operator partners, alongside a number of operators on Pariplay’s Fusion platform.

It was developed in response to the 5.3% turnover tax on casino games in Germany, which was approved in June and introduced as part of the country’s State Treaty on Gambling (GlüNeuRStv) in July.

Aspire said the tax structure has resulted in many operators lowering their return-to-player (RTP) to compensate, resulting in fewer games on offer and a worse casino experience.

It said that BuyWin works by making a unique bet contribution on transactions, which enables operators to offer all the games German players are used to at the usual RTP of 95-96%.

Aspire Global’s chief executive, Tsachi Maimon, said: “We are delighted to have developed an innovative new feature which turns a potential barrier into an opportunity for operators navigating the German regulating market.

“Thanks to the work of our in-house development team, BuyWin is a one-of-a-kind solution that is a must for all operators who want to offer the best casino experience for their players in the German market.

“In offering Germany’s best RTP as well as the largest games portfolio on the market through Pariplay, we see the development of BuyWin as a further statement of intent as we continue to grow our presence in regulated markets worldwide.”