Month: February 2023

In a trading update, Entain said group NGR was comfortably ahead of the previous year but did not disclose full financial details at this stage.

Entain’s retail business, which includes operations across the UK, Italy, Belgium, Ireland and Croatia, experienced a 66% jump in NGR during 2022. The group said volumes were ahead of pre-pandemic levels while it also reported market share gains and a growing customer base for the segment.

This came after governments across Entain’s active markets removed the restrictions and measures that were placed on land-based venues during the pandemic such as capacity limits and temporary closures. 

In terms of online, NGR for the full year was down 1%, with Entain putting this down to strong pandemic comparators and the impact of regulatory changes, particularly in the UK and Germany.

Online sports betting NGR remained flat, though wagers were down by 1%, while internet gaming NGR declined 1% year-on-year in 2022.

Entain noted that the figures did not include its 50% stake in the BetMGM US-facing joint venture it operates with MGM Resorts International. When accounting for this, NGR was 15% higher year-on-year on a constant currency basis.

Going into more detail on BetMGM, Entain said the venture continued to perform strongly, with NGR up 71% to $1.44bn (£1.17bn/€1.32bn), which was ahead of expectations. Entain also said that the business is on target to be earnings before interest, tax, depreciation and amortisation (EBITDA) positive by the second half of 2023.

BetMGM’s year-on-year growth came partly as the result of the brand launching in a series of new markets including Maryland, Ohio and, as of yesterday (31 January), Massachusetts.

Looking at wider business activity, Entain noted a number of other highlights in 2022, such as its acquisition of SuperSport in November. SuperSport contributed £8.0m to the final NGR total for the full year.

Shortly after the year-end, Entain also completed its purchase of BetCity, in a deal that will grant the business access to the regulated Dutch market.

In addition, Entain relaunched esports betting brand Unikrn. The esports betting and skill-based wagering brand is currently live in Brazil and Canada, with further launches planned for 2023.

“2022 has been another year of strong financial, operational and strategic progress for Entain,” Entain chief executive Jette Nygaard-Andersen said. “We have continued to grow our revenues in a sustainable and diversified way by expanding our global footprint, broadening our customer appeal, entering new areas of entertainment, and providing a safe environment for our customers.”

“All of this has led to a record number of active customers in Q4, as well as a full year EBITDA performance ahead of our previous expectations.”

“We have started 2023 with good momentum across the business and remain confident in our ability to continue delivering on our growth and sustainability strategy in the year ahead.”

Segal takes on the role with immediate effect following a spell as chief financial officer and acting chief operating officer of the business.

Geoff Green, previously finance director at Gaming Realms, will now replace Segal as chief financial officer, with the two having worked together for more than three years.

Gaming Realms said that the management changes will enable the business to continue the progress of the last three years and support its ongoing expansion into more countries and regions around the world.

The new appointments came as Gaming Realms also published a training update for its 2022 financial year, with the online slots developer saying it expects revenue for the 12 months to 31 December to reach £18.7m (€21.2m/$23.0m).

This would represent an increase of 27% on the previous year, while the business also said that adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) is likely to climb 36% to £7.7m.

This performance, Gaming Realms said, was driven by the continued growth of its licensing business that launched in two new North American regulated igaming markets – Connecticut and Ontario – in 2022, and with 58 new partners internationally.

A significant proportion of this activity took place in Q4, including the launch in Connecticut with DraftKings, making the state its fifth in which it is active. Outside of the US during Q4, launches took place in the UK, Italy and Belgium.

In addition, Gaming Realms noted that it repaid its outstanding loan to JPJ Group Holdings, a wholly owned subsidiary of Bally’s Corporation, leaving the business debt free.

“The company has delivered another strong, full-year performance with growth coming from both existing and new markets,” said Michael Buckley, who remains as executive chairman amid the management chinches.

“This growth has been supported by the new partnerships signed with igaming operators as well as the extension of our Slingo catalogue, with the release of new Slingo formats during the period, which have proven to be very popular. We are seeing good momentum, and backed by an exciting commercial pipeline and new games, we are confident that we will achieve further progress in 2023.

“We are also delighted to announce that Mark and Geoff have been appointed CEO and CFO respectively. They have developed a strong working partnership in recent years whilst the business has achieved excellent growth. 

“The board is excited to be working with them in their new roles and supporting the company’s ongoing commercial objectives.”

Under the agreement, GiG will provide the casino operator, the identity of which was not disclosed, with its player account management platform (PAM), after striking an initial head of terms agreement last month.

The deal will for an initial period of five years, with the opportunity to be further renewed, and is scheduled to go live in the first quarter of 2024. 

“Given the expanding scope of opportunity for operators in the region, we’re delighted to be entering the Swiss market in partnership with an established land-based brand,” GiG chief executive Richard Brown said.

“Our considerable experience at delivering robust and innovative solutions to retail organisations in highly complex regulated business, continues to help our reputation as a provider of choice.”

GiG has secured a number of partnerships in recent weeks, with the business having struck deals with an unnamed European land-based operator to support its online expansion plans.

The business also agreed a deal to provide its platform solution to Joy Enterprise’s Playr.bet brand in Latin America.

In addition, this week GiG completed its acquisition of affiliate websites Askgamblers.com, Johnslots.com, Newcasinos.com and a number of smaller domains from Catena Media.

Betinia will offer Danish players access to more than 2,000 online casino games including slots and table games, as well as a range of sports betting options.

Consumers will also have access to Betinia’s loyalty program and the Betinia Coins System, which offers users a number of rewards.

The launch will expand Soft2Bet’s and Betinia’s presence in the Nordic region, with the brand already active in the regulated Swedish market.

“We are very pleased to continue expanding our footprint in the European market as the entrance of our brand, Betinia in the Danish market further develops our presence in the rapidly developing Nordic region,” head of country teams at Soft2Bet Peter Christian said.

‍“We now operate the Betinia brand in both the Danish and Swedish market under local licences with cutting edge technology adapted to the specific regulatory requirements and designed to provide an engaging, yet safe gaming experience for our users.”

The launch comes after last week it was revealed that the Denmark gambling market grew in 2022, despite a drop in sports betting.

Total gross gaming revenue for the year to 31 December 2022 came to DKK6.70bn, which was up 7.5% on the DKK6.23bn recorded in the previous year.

A subsidiary of UK based Betfred Group, Las Vegas-based Betfred USA Sports began its operations in 2019. The company has expanded its reach across the US, most recently launching products in Maryland and Arizona.  

As part of the new deal, Betfred is now an official sports betting partner of the team.

“We’re proud to be partnering with Betfred as they make their arrival here in Las Vegas,” said Golden Knights president Kerry Bubolz. “Betfred’s US business is Vegas born just like we are, and we’re excited to help them launch their brand in Nevada.”

The partnership will include interactive contests for fans during intermission at select home games and signage at T-Mobile Arena.  

Additionally, Betfred branding will be incorporated into the NHL’s new digitally enhanced dasherboard (DED) broadcast signage and will feature on the Knight’s official digital channels, email newsletter and radio broadcasts.

“As a Las Vegas-based company preparing to open our first hometown sportsbook in partnership with Mohegan Casino Las Vegas at the Virgin Hotel Las Vegas, we’re very excited to be partnering with the hometown Vegas Golden Knights,” said Bryan Bennett, COO of Betfred Sportsbook. “We look forward to growing our business here and supporting Las Vegas hockey in the process.”

Overall market revenue in the 12 months through to December 31 was 10.5% more than the previous record of $13.40bn in the previous calendar year.

Slots were responsible for $10.00bn of all revenue for the year, including $5.12bn from multi-denomination machines and $3.59bn from penny slots.

Read the full story on iGB North America.

The sportsbook went live yesterday (January 31) and offers players in the state a range of sports betting options across a host of events and competition.

The multi-year deal with the Commanders, based in neighboring Maryland, establishes Bet365 as the team’s official sports betting partner.

Read the full story on iGB North America.

Consumers bet a total of $518.1m on sports during the month, up 12.3% from $461.4m in December 2021 but down 6.3% from $552.6m in November 2022.

Online betting accounted for $514.3m of all wagers in December, with just $3.8m being bet at retail sportsbook in Colorado.

Read the full story on iGB North America.

This compares with an average of 230 alerts announced between 2019 and 2021.

The association stated this increase can be largely put down to a widening of its monitoring network due to membership growth.

During the year, the IBIA added 16 new members to its ranks, meaning that 45 businesses representing 125 betting brands are now count themselves as members.

“The addition of 16 new members in 2022 has undoubtedly strengthened our monitoring and alert network and our ambition is to see all responsible regulated sports betting operators collaborating through IBIA,” said Khalid Ali, CEO of the IBIA. “Proactive and collaborative action by our sector is an essential component in the fight against match-fixing, and to enhancing the overall reputation of the sector in general.” 

Divided by quarter, there were 48 alerts in Q1, rising to 80 in Q2. Q3 experienced the largest number at 90, compared to 50 in Q4. According to the integrity body, the alerts spanned 14 sports and 61 countries – with the largest number coming from tennis and football.

Geographically, Europe stood as the largest single region with close to 50% of the annual total. Overall, there were only 22 alerts reported in North America, accounting for less than 10% of the amount.

Sporting sanctions

In total, sporting or criminal sanctions were applied against 15 teams, officials or players where the association reported suspicious betting activity. The IBIA said that in many cases, data from the body or its members helped contribute to cases in which significant sanctions such as life bans were issued.  

“The protective shield provided by IBIA is a vital tool in identifying and sanctioning attempted corruption on regulated betting markets,” said Ali. “That has been underlined by welcome successful prosecutions during 2022 based on IBIA data, and we expect further corroboration of the association’s important positive impact and collaborative approach to be evident throughout 2023.”

In the last five years, the IBIA has reported 1224 alerts across 21 sports and 102 countries. Include in this number is 559 cases in tennis and 295 in football – together accounting for 70% of all alerts.

The alerts are generated through customer account transactional data only available to the IBIA or its members. The organisation stated that the alerts often resulted in the launching of investigative action by law enforcement, sporting bodies or regulators.  

Fanatics became the latest member to join the IBIA, announcing its membership yesterday (31 January).

Under the agreement, Aspire Global will provide its full suite of solutions to Metropolitan to help power the operator’s new digital offering.

The deal will include incorporating the Aspire Global player account management platform, managed services and casino aggregation solution.

Metropolitan operates eight premium, land-based casino across the UK including the Empire Casino in Leicester Square in London.

“We see great opportunities within multi-channel solutions and the superior, additional entertainment options this approach presents to players,” Metropolitan’s chief executive Michael Silberling said.

“Aspire Global’s track record as a platform provider in the UK, covering all verticals with class leading content, was impressive and we are delighted to have partnered with them to make this important step.

Aspire Global’s managing director Antoine Bonello added: “In regulated markets across the world, land-based operators are exploring options to present their customers with a fully rounded, all-encompassing entertainment experience. 

“As a leading UK brand, Metropolitan Gaming sought a partner that was able to offer an advanced technology-based solution that included all gaming verticals, along with Managed Services, and we are delighted to have been selected. 

“It is an important deal for us and one that speaks of our strength in successfully delivering everything operators need to branch out into the online universe.”

The deal comes after NeoGames earlier this month entered into a joint venture operating agreement with lottery solutions specialist Pollard Banknote with respect to NeoPollard Interactive (NPI).

NeoGames and Pollard Banknote have been running NPI as an online lottery solutions provider joint venture for some time, but the new deal and subsequent amendment to the parties’ Michigan Joint Venture Agreement will formalised this arrangement.