Bragg predicts 25% revenue rise in FY 2021 results

The igaming and technology provider expects to report fourth quarter revenue of €15.4m, an increase of 11.5% compared to Bragg’s 2020 results. Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for the quarter is estimated to be €1.3m, level with Q4 2020.

This has contributed to projected full-year revenue of €58.0m (£48.8m/$66.1m) for the business in 2021, with adjusted EBITDA expected to rise 27.7% to €7.0m.

As such Bragg has raised its parameters for full-year 2022 revenue from the range of €59m to €61m, to between €68m and €72m, meaning a potential year-on-year increase of 24.1%.

Adjusted EBITDA for 2022 was also raised, moving from a €6.0m to €7.0m range, to between €9.5m and €10.5m. This could be an increase of up to 50.0%.

Bragg attributed the increases in financial ranges to the momentum from its current operations. Since January 2021, Bragg’s Oryx Gaming subsidiary has gone live in a number of regulated markets, including the Netherlands, Switzerland and Greece.

Yaniv Spielberg, chief strategy officer for Bragg, said the company’s growth was likely to continue throughout 2022 and 2023.

“The ongoing execution of our igaming content and platform expansion and new market initiatives are driving Bragg’s consistent operating momentum leading to near and long-term financial growth,” said Spielberg.

“As such, Bragg is favorably positioned to achieve our increased 2022 financial projections and to then continue to accelerate our growth in 2023.”

Bragg is in the process of completing its $30m acquisition of Spin Games, further strengthening its ability to grow in a total addressable market (TAM) worth an estimated $9.5bn by accelerating its US expansion.

“As we move closer to completing our acquisition of Spin Games, whose existing relationships with leading US igaming operators will significantly accelerate our entry into the market, and continue to make consistent progress with entering new regulated global igaming markets, we remain on track to substantially grow our year-end 2022 TAM approximately six-fold compared to the beginning of 2021 to more than USD$18bn,” Spielberg added.

Last week Bragg appointed Lara Falzon to the position of president and chief operating officer.

South Dakota mobile sports betting bill passes at Senate

Senate Joint Resolution 502 is set to be introduced during South Dakota’s next general election, allowing citizens the chance to vote on whether it should come to pass. The proposal was passed by a slim majority – 18 votes to 17.

Should the proposal be voted in at the general election, players will be able to place mobile wagers on sporting events, provided the platform is partnered with one of the casinos in the city of Deadwood.

The legislation stipulates that any proceeds from games of chance should be used for educational, charitable, patriotic, religious, or other public spirited uses – which include the historic restoration and preservation of Deadwood. The resolution will also allow for a state-run lottery and video games of chance.

Sports betting was legalised in South Dakota back in March 2021 after Governor Kristi Noem signed Senate Bill 44 into law, but restricted to casinos in the city of Deadwood.

A bill to legalise retail outlets to act as affiliates for Deadwood’s casinos has also progressed in the state legislature, and referred to the House State Affairs Committee.

House Bill 1148 defines a licenced affiliate business as “any premises that forms a partnership with a licensed gaming establishment for the purpose of offering customers within the interior of the premises the opportunity to wager on sporting events through the sports wagering system of a licensed gaming establishment”.

The licence fee for an affiliate business licence stands at $2,000, and is renewable on 1 July every year for a fee of $200. Any licenced affiliate businesses perceived to commit violations of the state’s gaming legislation could be fined up to $25,000.

House Bill 1148 was first introduced into the Senate at the end of January, and is scheduled for hearing in the Senate House tomorrow (9 February).

Zitro names Derik Mooberry as US chief executive

He has more than 20 years’ experience in the industry, most recently serving as an advisor to Scientific Games, following a spell as group chief executive for gaming.

He joined the supplier through its acquisition of Bally Technologies, where he served as senior vice president of products and operations.

Derik will be responsible for overseeing the development of Zitro’s US and Canada business, leading the company’s expansion strategy in these regions.

Zitro’s Mike Magrisi will continue to lead all commercial operations and technical service as vice president of sales and service, reporting directly to Mooberry.

“Derik Mooberry brings a skill set that is almost unmatched in today’s gaming industry. With his demonstrated leadership and business acumen, we are confident that his addition will support the company’s continued growth and success in the American and Canadian markets,” commented Johnny Viveiros Ortiz, Founder of Zitro.

Mooberry added: “I have admired Zitro’s global development for many years and I am excited about the opportunity to continue that growth within the United States and Canada.  The future for Zitro is very bright based on the early success we are seeing in the domestic marketplace.”

Belgium’s Casino de Spa secures Dutch igaming licence

The licence will enable Casino de Spa to offer online games of chance over the internet to players in the Netherlands.

The new permit came into effect on 2 February and will be valid for a period of five years, to February 2027.

Casino de Spa will operate in the Netherlands via its Casino777.be online brand.

The operator becomes the 12th business to secure an igaming licence in the Netherlands since the country launched its regulated online gambling market on 1 October last year.

The market went live with an initial 10 operators, with the KSA having issued licences to bet365, UK-based bingo operator Tombola and Malta- and Estonia-licensed Play North Ltd are among the brands cleared to launch, alongside Dutch land-based operator Holland Casino NV and state lottery Nederlandse Loterij with its TOTO Online betting brand.

The Janshen Hahnraths Group with FPO Nederland, Italy-based Betent, Belgian brand Bingoal, NSUS Malta, which runs the GGPoker.eu brand and sports media and betting business LiveScore Malta also held licences on opening day.

JOI Gaming, a division of Dutch land-based casino operator JVH Gaming & Entertainment Group, also secured an online gambling licence in the country in November.

PointsBet soft launches sports betting in Pennsylvania

The operator last month secured online sports wagering and interactive gaming operator licences in the state and yesterday (February 7) accepted its first bet.

Per the terms of its sports betting licence, PointsBet must first undergo a three-day soft launch period before commencing full operations and marketing. As such, the operator expects to be fully live in time for Super Bowl LVI on February 13.

Pennsylvania becomes the 10th state in which PointsBet has rolled out its sports wagering offering, following launches in New Jersey, Iowa, Indiana, Illinois, Colorado, Michigan, West Virginia, Virginia and New York.

“PointsBet launching in our 10th US jurisdiction represents a very proud moment for our company, and I am especially grateful to our technology and compliance teams for their ongoing dedication and commitment,” PointsBet group chief executive and managing director Sam Swanell said.

Now live in Pennsylvania, PointsBet will utilise its partnership with Comcast-owned media group NBC sports to promote its presence in the state.

This will include multi-platform media and marketing opportunities across NBC Sports Philadelphia, the regional broadcast home of Pennsylvania sports teams the Philadelphia Phillies of Major League Baseball, the Philadelphia 76ers from the National Basketball Association and National Hockey league team the Philadelphia Flyers.

PointsBet is now in its third year of being the official sports betting partner of NBC Sports.

Last year, Pennsylvania set a host of new records for  regulated gambling in 2021, with total revenue in the state reaching $4.73bn.

The total across all channels and verticals was 78.5% higher than the $2.65bn generated in 2020 and up 38.7% from the previous full-year record of $3.41bn in 2019.

Sports betting revenue climbed 79.3% year-on-year to $340.1m, while the state’s handle reached $6.55bn, up 83.0% on 2020 and the highest annual total since legal betting went live in 2018.

AEO: “UK exhibitions are safe, secure and open for business”

As ICE London prepares to make its return to ExCeL London from 12-14 April, the UK government is rolling back measures to contain the spread of Covid-19.

From 27 January, the Plan B measures implemented to slow the spread of the Omicron variant were removed, meaning events and venues are no longer legally required to check visitors’ Covid pass. Face coverings and social distancing are no longer required by law in any setting. 

And from Friday (11 February) this week, fully vaccinated travellers will no longer be required to undergo testing upon arrival in the country.

“Thanks to the success of the vaccination programme the UK is leading the world in terms of reopening, and is very much open for business,” Skeith said. 

Chris Skeith, OBE

“Organisers continue to use the All Secure Guidelines, previously approved by government officials, which is a dynamic risk assessed approach to create safe environments for customers.”

Skeith, who represents a membership that stages more than 1,700 trade and consumer events worldwide, added that venue research suggested customers feel safe and secure, especially as initiatives such as improved ventilation and enhanced cleaning are now standard practice.

“Feedback received from members who have run events indicate a great deal of pent-up demand from buyers, and whilst shows are understandably smaller than they were pre pandemic the satisfaction scores and re-booking rates are in many cases higher than they were prior to March 2020,” Skeith added. 

Clarion Gaming managing director Stuart Hunter said those planning to attend ICE London should be encouraged and reassured that so many shows are already running safely and effectively across the country. 

“With AEO research confirming that nearly seven out of ten buyers (69%) will recommend brands that they have engaged with at events there’s no doubt that the return of in-person represents a major opportunity for businesses and industries to bounce-back after a torrid two-years.”

More than 450 brands are scheduled to exhibit at this year’s rescheduled event, with Clarion Gaming research showing there was significant appetite among buyers to get back to the ExCeL. 

Of those attending the show in April, 77% were either final decision makers or had a say in purchasing decisions for their business, Explori research shows. The majority of these attendees view ICE as an important event to attend, and 67% of those polled are there to seek out new suppliers or partners.

ICE week 2022 kicks off from 11 April with the start of the ICE VOX conference programme, running until 13 April, with the exhibition open from 12 to 14 April. 

This year’s iGB Affiliate London, which has already seen exhibitor numbers surpass the 2020 edition, will run from 13 to 14 April, also at the ExCeL.

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BetMakers to supply CrossBet brand in Canada

The supplier is to provide its sports betting platform to Cross Bet, with the expansion into the Canadian province complementing BetMakers’ roll-out in the US.

The launch marks CrossBet’s first move outside its native Australia, where it is licensed by the Northern Territory Racing Commission and by the South Australian Gambling Codes of Practice.

Christian Stuart, who was appointed North America CEO of BetMakers last month, commented on how the launch will enhance BetMakers’ presence in North America.

“We are excited to power the CrossBet brand with our proprietary wagering technology,” said Stuart.

“Launching in Ontario will be an exciting achievement for BetMakers as we continue to make inroads into the North American wagering market.”

CrossBet is a licenced bookmaker that implements cloud computing platforms to provide sport and racing betting to customers. It initially launched in Australia, with BetMakers providing the platform.

Jake Henson, COO of BetMakers, spoke of the opportunities available to both BetMakers and CrossBet through the expansion of their partnership.

“Since launching via BetMakers technology into the competitive Australian wagering landscape, CrossBet have quickly grown into a true up-and-comer in the digital space with their brand expanding into national sports league sponsorship in recent months,” said Henson.

“Their entry into Canada would represent BetMakers’ first sports betting platform launch into the North America market, complementing our existing digital racing platforms and demonstrating the depth and breadth of our digital capabilities.”

In August last year, single-event sports betting also became law in Canada after Bill C-218 received royal assent. The Bill was re-introduced to Canadian parliament in November 2020.

Ontario’s igaming market is set to launch on 4 April. The market was brought about by an announcement in April 2019 which saw the province’s Conservative government seek to end the igaming monopoly held by the Ontario Lottery and Gaming Corporation.

This progressed with the introduction and passing of a bill designed to open the market to new, private operators in 2020.

Scott Cross, CEO and founder of CrossBet, praised BetMakers’ platform and spoke about their existing relationship.

“We are very pleased to partner with BetMakers for CrossBet’s first foray into international expansion via the Canadian market,” said Cross.

“BetMakers have been key in our growth strategy in Australia, so it was an easy decision to continue the relationship as we look to expand our fast growth trajectory in Ontario. We know that BetMakers’ market leading technology will give us the tools we need to successfully implement our global growth strategy.”

BetMakers is also preparing to expand significantly in the US, where it will roll out fixed-odds betting on racing in New Jersey.

The role of data collection in the fight for sporting integrity

When it comes to protecting the integrity of sports, the fight is fought on many fronts. There is responsibility on the fans to bet fairly without looking for unscrupulous advantages. There is pressure on the players to stay strong when confronted with easy ways to make quick cash. And the various governing bodies have a duty to remain vigilant as threats to sporting integrity are evolving by the year.

However, the fight always boils down to one key component: data.

The importance of data

Data plays a crucial role in the world of sporting integrity whichever side of the fight you are on, as sports data and AI technology provider Stats Perform knows only too well.

“Live data, when it comes to sporting events, is very valuable and can be used in a wrong way,” says Jake Marsh, global head of integrity at Stats Perform. “It can make people a lot of money and it can lose companies, as in betting operators, lots of money. We are at the forefront of trying to make sure things operate as cleanly as possible in this area.”

Marsh adds that betting operators are reliant on accurate, reliable, transparent, high quality, ultra-fast event data, to ensure that the markets they run are clean and accurate. It’s an intense operation which requires the highest levels of vigilance as many factors come into play: who are the players and who’s regulating which competition, for example. Elsewhere, technology, technological vulnerabilities around speed and latency are some of the other variables that affect the accuracy of the data which is so precious to everyone involved.

“Having a data supply chain that is secure is a key part of supporting the betting industry now. We believe our customers deserve to have their own operations protected by best practice and processes in risk management that is conducted by the suppliers, i.e. companies like Stats Perform,” says Marsh.

“Betting operators rely on us for the veracity of our data to effectively manage their markets – and so they don’t lose money themselves. This is an area that has long been overdue in general within the industry, one that has needed looking at.”

Stats Perform has an array of weapons in its arsenal when it comes to preserving sporting integrity. This is especially important as the company has had to learn how to deal with a wide range of threats, as Marsh explains.

“We’ve had fake games, we’ve had organised crime trying to infiltrate data collection networks in Europe, we’ve had a case in two different countries of a group deploying signal jammers to try and disrupt better data distribution, which we identified and mitigated.”

In addition to working with the data supply chain – maintaining the quality of the data available to markets – the company is also involved in anti-match fixing issues.

This includes providing bet monitoring and conducting underground investigations of major sporting events, while the intelligence team shares information with betting operators. Betting analysis, performance analysis and intelligence are combined into one package.

Stats Perform carries out this service on behalf of betting operators and rights holders alike, as betting integrity is a shared interest for both stakeholders.

“On the data integrity side, we’ve got a leading division when it comes to data collection,” Marsh continues. “We’ve really within the business been driving standards around betting data collection and distribution. Not only tangible ways such as policy, but also intangible ways such as processes, and we’ve put in a risk management framework around that whole data supply chain.

“Everything we do on a daily basis is geared towards minimising that risk for betting operators and the market. But of course, sport integrity doesn’t just include match fixing.”

The bigger picture

While acknowledging the significance that sports betting plays in Stats Perform’s output and sporting integrity as a whole, Marsh is keen to emphasise the work that needs doing outside of betting.

“Integrity itself covers a wide range of areas now,” he says.

“It started out that integrity meant match fixing and betting corruption. Then it became that doping was blended in there as well. But it now covers a range of issues: safeguarding, governance, online prevention and tackling online abuse, and all these areas now fit under the integrity umbrella.”

One only needs to remember the fallout from last summer’s Euro 2020 final to realise the significance of what Marsh says.

As the definition of integrity expands, so do the ways in which the issue is tackled.

Stats Perform’s integrity work now includes investigations around investment, due diligence, club ownership, agents and finance to name a few. One aim is to reinforce the internal structures which prop up sports, so as to avoid corruption trickling down to the lowest levels.

Stats Perform also recognises the importance of educating and protecting the athletes themselves, as in an age of social media, they are more susceptible than ever to threats to their integrity.

Marsh adds: “Our players themselves are now coming under more and more abuse, particularly on social media, whether that’s when they’ve played badly, or they’re perceived to have said something wrong in the press and the fans don’t like it. Sports were really unprepared for this kind of issue.

“Similarly to when match fixing really started becoming a problem in terms of leaks, organised crime and groups outside of sport targeting sport, the social media online abuse problem is quite similar –it has been a huge problem.

“But sports don’t necessarily have the technology and the solutions in house, or the budgets as yet to tackle this.”

This has informed Stats Perform’s partnership with data science company Signify, as the pair teamed up to create a new social media abuse monitoring service.

On the collaboration, Marsh says: “It’s all geared towards prevention and investigation of online abuse of athletes across a range of online hate, racism and homophobia and ableist abuse. It covers a real wide range. And that’s now firmly under our umbrella in terms of our integrity remit.

“And of course, it does have links to betting because players can get online abuse if [someone has] lost a bet and starts throwing out match-fixing accusations. There is a link there into our work that we do on a regular basis. It’s all just part of Stats Perform being a responsible partner to both the betting and the sports industries, and just trying to help find solutions to help protect all stakeholders.”

Maintaining standards

Stakeholders come to rely on Stats Perform as it has proven to be a dependable data resource. And to ensure that remains the case in the future, the company does everything within its power to maintain its high standards.

It recently retained its accreditation from the International Betting Integrity Association (IBIA) for a second consecutive year, having become the first sports betting data provider to be awarded accreditation in 2021.

Marsh adds: “We supported IBIA when they came out with the data standards straight away and said, ‘We completely agree with this, this is a fantastic idea for the betting industry and for sport in general’. We believe we can lead by example in this area, we’re confident that our house is in order, and that we can help the industry maintain and develop even higher standards.

“Naturally, we’re pushing ourselves year on year, to come up with new ways of managing risk, identifying new threats and how to mitigate them. To be able to demonstrate that we’ve had an independent assurance quality audit around our data supply chain is fantastic, it’s something that we’re very proud of.

“As a business we go beyond the standards themselves in terms of what we do. That’s not to say that the standards aren’t strong because they are.”

Marsh highlights that the fight to preserve integrity within sports will always be a collaborative effort as each party has a vital stake in the operation.

“It’s really important that we see all stakeholders having a part to play in integrity, betting and sport integrity,” he says. “We see ourselves as service providers for both the betting and sport sectors. It’s not just the betting operator that has financial and reputational incentives or issues on the line, there’s a sport involved as well.”

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