BetMGM signs Michigan basketball great Rose as brand ambassador

The arrangement will see Rose feature in BetMGM’s marketing campaigns and take part in a range of BetMGM fan events.

Rose will engage with BetMGM customers and MGM Resorts’ M life Rewards loyalty members, as well as appear in BetMGM social media content and make guest appearances on radio and television programs.

Born in Detroit, Michigan, Rose spent 13 years playing in the NBA, turning out for the Denver Nuggets, Indiana Pacers, Chicago Bulls, Toronto Raptors, New York Knicks and Phoenix Suns.

“The excitement around sports and the growth of sports betting, and BetMGM in particular, this year has been special to witness,” Rose said. “I’m beyond excited to go from a spectator to a player joining the BetMGM team, continuing to defy industry expectations.”

BetMGM chief revenue officer Matt Prevost added: “Jalen Rose is an All-Star addition to the BetMGM team. The impact he has had on the game of basketball is surpassed only by the exceptional analysis he provides fans daily.”

Read the full story on iGB North America.

Camelot partners Team GB and ParalympicsGB

Under the agreement, Camelot will become an official partner of ParalympicsGB and an official supporter of Team GB, with the aim of supporting team members at this summer’s rearranged Olympic Games and Paralympic Games.

The Games were originally due to take place in Tokyo, Japan last summer, but were postponed due to the novel coronavirus (Covid-19) pandemic. Organisers plan to run both events this summer.

Camelot will provide funding from National Lottery ticket sales to help finance Covid-19 safety measures required in order for athletes and Paralympians to take part in the Games.

These include hygiene technologies and a comprehensive testing programme for Team GB members, as well as lateral flow testing and Covid-secure transport for the ParalympicsGB team.

In addition, Camelot, Team GB and ParalympicsGB will help deliver an ‘Everyday Wellness’ programme for Camelot’s 1,000 employees, encouraging them to be happier, healthier and more balanced.

The new partnerships build on the National Lottery’s historic relationship with British Olympic and Paralympic sport, with the organisation having provided more than £2.8bn in funding since its launched in 1996.

“The support of Camelot is timely in ensuring that we’re able to maintain the world class environment for our athletes in Tokyo whilst incorporating the vital additional infrastructure to make sure our facilities are Covid-secure for our athletes and to allow them to reach the ‘start line’ in the best possible condition,” British Olympic Association chief executive Andy Anson said.

British Paralympic Association chief executive Mike Sharrock added: “Like so many organisations the Covid-19 pandemic has had a major impact on the British Paralympic Association and this partnership with Camelot will help ensure we can deliver world class preparation and Games time environments to empower our athletes to achieve their goals this summer.”

Camelot chief executive Nigel Railton also said: “Throughout the pandemic, the safety and wellbeing of our employees has been our number one priority – so it seems fitting that this partnership will not only help ensure that the nation’s athletes are met with Covid-secure environments as they prepare for the Games, but will also give our employees further opportunity to be at their best every day.”

Last year, the British Gambling Commission opened the tender process for the UK’s National Lottery licence. Camelot has confirmed to iGB that it has completed the Gambling Commission’s Selection Questionnaire, but has not revealed whether it will commit to bidding. It has held the licence since the lottery was created in 1994.

Kansas sports betting bill referred to House committee

Senate Bill 84, designed to authorize sports wagering under the Kansas expanded lottery act, was introduced in January and passed the Senate with a vote of 26-12.

This sent the bill to the House, which must also pass it before it becomes law. The bill was introduced by the Senate Federal and State Affairs Committee.

Read the full story on iGB North America.

Kindred repurchases 138,000 shares as buy-back programme continues

Announced in February, the initiative will see the operator repurchase up to 2,000,000 of its own shares for as much as SEK190m (£16.0m/€18.7m/$22.3m).

In its latest round of repurchasing, which ran from 8-12 March, Kindred bought back 138,000 shares fro SEK18.6m.

Since the programme launched in 1 March, Kindred has repurchased a total of 842,000.

Share repurchases as part of the initiative are being made on Sweden’s Nasdaq Stockholm, with the operator permitted to spend up to SEK190m.

Following the programme, Kindred said it intends to cancel the repurchased shares, subject to approval at its annual general meeting in May.

Play’n Go licensed in city of Buenos Aires

The supplier already held accreditation in the province of Buenos Aires, and is therefore now certified to provide products across the whole of Argentina’s largest and most populous province, home to around 17m people.

Play’n Go said its new accreditation ensures that any operators currently partnered with the supplier can expand into Buenos Aires, safe in the knowledge they can continue to offer Play’n Go content in the market.

Sissel Weitzhandler, chief risk and compliance officer for the supplier, said: “Our strategy remains to engage in every regulated jurisdiction with diligence and care.

“The speed at which Argentina is re-regulating is very positive and we are looking forward to supporting our partners as they enter this newly regulated and exciting marketplace.”

Cristian Acuna, head of sales in Latin America, added: “We know that the eyes of the LATAM region will be watching Buenos Aires closely, but we are confident that our wide and varied portfolio of content with resonate strongly with players.”

“Thanks to our experience in Latin America, we know that what players in Argentina enjoy will be different from players in Colombia, Peru or Mexico. Operators can’t take a ‘one-size fits all’ approach to Latin America, and we don’t either.”

Argentina’s provinces are currently in the process of regulating online gambling on an individual basis.

Licensing criteria for the city of Beunos Aires were set out in February last year, with a view to the market launching in Q4 2020.

Last week, Gaming Innovation Group (GiG) and Argentinean gaming and entertainment operator Grupo Slot received approval to launch a new gaming platform in the city, the companies’ new online casino and sports betting brand, Jugadon.bet.

March Madness online wagering set to surge as tournament betting evolves

The survey by Morning Consult, conducted across 2,200 adults, also revealed that more than 47 million Americans will place bets on the National Collegiate Athletic Association (NCAA) men’s basketball tournament overall.

In total, 30.6 million Americans will place more conventional bets this year, up from 17.8 million in 2019. It is the first tournament held since 2019, after the 2020 edition was cancelled as a result of the novel coronavirus (Covid-19) pandemic.

Although the number of betting Americans has remained stable from 2019, there have been adjustments in how people will bet on the tournament this year.

Read the full story on iGB North America.

DraftKings proposes $1bn senior notes offering

Due in 2028, the notes will be made available to qualified institutional buyers, with DraftKings also set grant initial purchasers a 13-day option to purchase up to an additional $150m aggregate principal amount of notes.

Upon conversion of the notes, DraftKings will settle its obligation in cash, shares of its Class A common stock or a combination of cash and shares.

Interest rates, initial conversion rate and other terms and conditions will be determined by negotiations between DraftKings and purchasers.

DraftKings said that it intends to use any proceeds from the offering for working capital and general corporate purposes, such as mergers and acquisitions and products or technology investments.

The operator also said funds would go towards the cost of privately negotiated transactions with one or more notes purchasers, their affiliates and other financial institutions.

Read the full story on iGB North America.

Greentube strengthens Dutch presence with Eurocoin acquisition

The deal will see Eurocoin Interactive rebranded as Greentube Netherlands. Its catalogue of games will be coupled with Greentube’s existing content, and offered to Dutch operators ahead of the country’s igaming market opening on 1 October.

The acquisition, agreed for an undisclosed sum, will come into effect later this month, and the newly minted Greentube Netherlands’ content will be fully integrated by the October launch.

“We are very happy to welcome Eurocoin Interactive in the Greentube Group as we always aim to have a strong portfolio of games that are known to the local players – titles such as Random Runner, Simply Wild and several more have been smash hits in the land-based market for years,” Greentube’s finance chief and chief games officer Michael Bauer said.

“Greentube Netherlands will be our competence centre for this very specific market and we’ll use their vast know-how and unrivalled experience to further enhance our portfolio.”

Greentube’s expansion has been in the works for quite some time, and it is one of many companies looking to take advantage of a fresh market once online gaming launches in the Netherlands.

“When entering this new market, it is key to hit the ground running by providing high-quality, locally tailored games,” added Eurocoin Interactive director Reg Das.

“Our acquisition by Greentube further enhances its impressive portfolio, which is one I am confident will be unsurpassed in the Netherlands when the regulated market opens for business later this year.”

Flutter Entertainment to consider FanDuel IPO in US

The operator issued a statement today (15 March) in response to media reports that emerged over the weekend, suggesting it was looking into a spinoff and share sale of FanDuel from some investors.

Citing sources close to the discussions, CNBC reported that while a separation of FanDuel is not assured or imminent, Flutter has been considering spinning out FanDuel as a separately traded business to trade on a US exchange.

Flutter said commencing an IPO of FanDuel was one of a number of options that it had been looking at, but no decision has been made yet.

Ireland-based Flutter currently owns 95% of the total shares in FanDuel, having purchased an additional 37.2% of the business in December from Fastball.

“Flutter regularly evaluates its organisational and capital structure to assess how best to position itself to deliver upon the group’s strategy,” Flutter said.

“Options including the listing in the US of a small shareholding in FanDuel are being considered but no decision has been made at this time.

“Should a decision be made to proceed with a listing in due course, an announcement will be made as appropriate.”

Media giant Fox Corporation owns 2.5% of Flutter and has an option to buy an additional 18.5% stake in Flutter in July.

LeoVegas acquires Expekt from Betclic Group

Under the agreement, LeoVegas will take ownership of all assets of the Nordic-focused brand.

LeoVegas said the acquisition strengthens its brand portfolio with an established position in sports betting, as well as expands its strategic growth opportunities within this segment.

LeoVegas chief executive Gustaf Hagman (pictured) added that the purchase represents a “milestone” for the operator, with plans in place to make Expekt a leading sports wagering brand in Sweden and other Nordic countries.

Gustaf Hagman

“For those of us who grew up with online gambling in Sweden, Expekt is undeniably one of the pioneers in sports betting,” Hagman said. “After a few years on the sidelines, we will now restore Expekt to its former glory as the leading sports betting brand.

“We are working resolutely to offer the ultimate mobile sports betting experience, which will entail a number of new innovations and new thinking with a starting point from what a mobile experience can entail for the big years of sport in 2021 and 2022.”

The acquisition comes after LeoVegas last month reported a 103.2% year-on-year increase in comprehensive profit in 2020, after its strongest-ever fourth-quarter performance helped it post record results for the year.

Revenue for the 12 months through to 31 December stood at €387.5m, up 8.9% from €356.0m in the previous year.