Aug 29: Exclusive - UKGC makes suicide info request of licensees
Aug 29: Exclusive - UKGC makes suicide info request of licenseesUKGC sends request for information on suicides linked to gambling, TwinSpires moves over in Michigan, BetMakers FY, startup focus - 4casters +More
Good morning. On today’s agenda:
UKGC suicides info request
In the post: Earnings+More has confirmed that a letter from the UK regulator asking for further details about any interactions with a list of 10 recent suicides linked in the press to gambling was sent to multiple licensees the week before last. Press links: According to the contents of the letter seen by E+M, the Commission writes that “following a review of press coverage of possible suicides with links to gambling” it is requesting assistance from operators in “identifying more information” in relation to 10 individuals who took their own lives.
Request for more information: If an operator were to find any evidence of a customer relationship with any of the 10, the Commission then requests that licensees provide:
Backgrounder: The issue of gambling and suicide is hugely contentious. A Public Health England (PHE) study published almost a year ago suggested gambling can “increase the likelihood of some people thinking about, attempting or dying from suicide”.
Controversial: The effort by lobby groups such as Gambling With Lives to link suicides to gambling comes despite guidance from the Samaritans that “speculation about the ‘trigger’ or cause of a suicide can oversimplify the issue and should be avoided”. MI licensing moves
Fare thee well, Miss Carousel: Late last week, TwinSpires announced it will be shuttering its operations in Michigan as of September 6. Churchill Downs ran TwinSpires in Michigan through a market access agreement with the Island Resort & Casino owned by the Hannahville Indian Community.
Enter SI Sportsbook: On Friday, the MIGamingReview website reported that the 888-powered SI Sportsbook offering was now taking customers from Michigan. In its half-year earnings in August 888 said it hoped to be launching in Michigan with the SI Sportsbook in the “coming months”. 888 analyst updateSoft tissue: On Friday, the team at Berenberg reduced its target price suggesting the company’s FY guidance was soft compared with their own estimates. 888’s expectations for H2 to be in line with H1 was disappointing given the second-half tailwinds such as the upcoming World Cup.
** SPONSOR’S MESSAGE: BettingJobs is the global leading recruitment solutions provider to the iGaming, Sports Betting and Lotteries sectors. Boasting a 19-year track record supporting the iGaming industry, and with a team of experts and world-class knowledge, it’s no surprise BettingJobs is experiencing rapid growth with outstanding results. Does your company have plans to expand teams to cope with strong growth and demand? Contact BettingJobs.com today where their dedicated team members will help you find exactly what you are looking for. BetMakers Technology FY
NTD TBD: Alongside the arrangement of powering the NTD operation in Australia, BetMakers launched 12 platform partners in Australia in the past 12 months and has a slate of eight further platform deals set to launch in FY23.
Earnings in briefHolland Casino: Online operations contributed €82.9m to total revenues which rose to €353.4m in H1. EBITDA came in at €40m. Holland Casino made total revenues in 2021 of €304.2m when it was hit by pandemic-related restrictions. Genting Malaysia: Q2 revenue rose 166% to RM2.18bn YoY while adj. EBITDA soared to RM619.5m from RM45.6m the year previously with the results driven by a five-times rise in revenue at the Resorts World Malaysia property to RM459.1m. Sky City: H1 Revenue fell 35.6% YoY to NZ$289.8m while EBITDA dropped 86.4% to NZ$20.4m as the business was hit by continued pandemic-related restrictions. Online revenue rose Macau licensing
Threshold: Under the new licensing regime which comes into force next year the authorities have set minimum income requirements per year of $866k+ per gaming table and $37k+ per gaming machine with operators having to make up for any shortfall.
BetDEX Monaco development
The decentralized sports-betting platform effort launched last year by Nigel Eccles, the former founder of FanDuel, has revealed an open-source technology platform called the Monaco Protocol which it says will power the BetDEX exchange beta and also its “mainnet” exchange. The shares week
Buying spree: MGM Resorts confirmed on Friday that Barry Diller’s IAC had accumulated a further $41.7m of shares, taking its stake to 16.5%. The suggestion is that IAC is taking advantage of the weakness in the MGM share price since the turn of the year, down over 26% YTD. 👀MGM Resorts’ share price since Jan 1 The week aheadGambling.com is the last of the larger affiliates to report quarterly revenues later on Monday. Recall the group reported 544% revenue growth from the region in Q1. Guidance for FY22 is revenue to be between $71-76m while Adj. EBITDA should be in the range of $22-27. PointsBet will hold its Q4 investor call overnight Thursday a month after publishing a Q4 trading update when it said gross win rose 24% YoY to A$122m while US gross win up 30% to A$41.9m What we’re saying: Look out for the E+M podcast on Thursday morning as we return to the airwaves to discuss industry matters. Startup focus - 4castersWho, what, where, when: 4casters is a Chicago-based betting exchange software provider launched by Zack Panos and Adam Winiecke while still studying at the University of Illinois. The exchange was originally designed as a smart contract betting platform on the Ethereum platform but has since pivoted to a B2B exchange software provider in 2020. Funding backgrounder: 4casters was a part of Jump Labs' first crypto incubator at the University of Illinois in 2018. Currently, the company is profitable and not raising outside funding. So what's new: Panos says 4casters’ licensing partners are growing rapidly, with their matched volume growing by three times over the past six months. “Currently, we are expanding the API functionality to give more features to market makers, developing a third-party party seeding tool that can be used on any exchange, and generally preparing for football and the World Cup,” he says.
The longer pitch: 4casters is an OTC betting exchange software provider designed for the peer-to-peer betting industry. Because of low liquidity and high spreads, major players in sports betting bet privately with each other on messengers such as Telegram and Signal, says Panos.
Value add: Panos says the company is working with major liquidity providers and building tools that “provide value to the sharpest bettors”.
Chart of the weekSource: Axios Peak practice: When will the number of big-budget scripted shows hit an all-time high? DatalinesNew York w/e Aug21: GGR was up 15.7% WoW to $24.3m on handle that rose 1.5% to $200.1m. FanDuel continued to lead with 49.4% of GGR followed by DraftKings with 27% and Caesars on 12.3%. Delaware Jul22: Online casino revenue increased 58% YoY and 12% MoM to $1.25m while sports-betting revenue was down 27.5% YoY but up 80% MoM to $383.2K. Handle stood at $2.7m, the state’s lowest monthly total in 2022. **Sponsor’s message ** Would you like to get your brand seen by more than 2,500 decision-making executives in the iGaming sector? How about positioning your business as a thought-leader in your area of expertise? Well, sponsorship opportunities at iGaming NEXT: Valletta ‘22 are still available. Built on three core pillars of content, networking opportunities and VIP hospitality, iGaming NEXT Valletta is rapidly cementing its reputation as the must-attend business event. In order to find out more about the available sponsorship opportunities, please contact iGaming NEXT at sales@igamingnext.com. NewslinesThe Nevada Gaming Commission has voted in favor of FanDuel extending its partnership with Boyd to offer sports betting at the Fremont Hotel & Casino property in Downtown Las Vegas. Kindred Group has been fined C$48k by the Alcohol and Gaming Commission of Ontario for advertising “generous” welcome offers for its Unibet sportsbook. Monetization platform Tallysight has announced a deal with Vox Media’s SB Nation to provide content creation to help service Vox Media’s partnership with DraftKings. Sports Interaction, the online sportsbook acquired by Entain as part of its £174m buyout of Avid Gaming, has been granted a license to operate in Ontario. DraftKings’ Golden Nugget Online Gaming has entered Kansas via a market access agreement with the Boot Hill Casino & Resort. PA Betting Services will distribute horse racing data from the Hong Kong Jockey Club to the Tote UK website. What we’re readingHop on: A brief history of the school bus. Now you see it, now you don’t: USA Today first ignited speculation over an Amazon bid for EA Sports before swiftly taking down the story after rival publications shot it down. Calendar
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