Earnings+More - CaliPlay legal tussle takes a turn
CaliPlay legal tussle takes a turnCaliente’s CaliPlay complaint, Super Bowl thrills, DraftKings is the standout in the week ahead, startup focus – Deep CI, Iowa’s de facto market exits +MoreGood morning. In today’s edition:
’Cause baby, now we got bad blood, you know it used to be mad love. CaliPlay’s Playtech complaintA legal battle over a seemingly minor contract issue could have wider ramifications. Riddle me this: Late on Friday, the Caliente-owned CaliPlay issued a response to Playtech’s somewhat vanilla statement last week about the 49% ownership option in CaliPlay held by Playtech. But the statement appeared to leave open more questions than it answered.
Ejector seat: A note from the analysts at Peel Hunt late last week, before CaliPlay’s statement was released, speculated that CaliPlay may have found, or had plans to find, a buyer for the whole business and would “prefer to eject Playtech from its interest” before selling it.
The bottom line: Playtech is no stranger to contract disputes, but this one has the potential to be more disruptive than most and hinges on some big unanswered questions around valuation and business continuation. ** SPONSOR’S MESSAGE ** The Fastest Sports Betting Data In The World: OddsJam offers real-time odds from over 150 sportsbooks in the United States, Canada, Europe, Australia, and more. See why tier 1 operators, affiliates, and DFS companies turn to the power of OddsJam sports betting data & screen to work smarter, not harder. Book a demo or drop us an email at enterprise@oddsjam.com. Bowl cutsGeoComply records over 100m bets over the weekend as analysts at Macquarie suggested, ahead of last night’s thriller, that high volatility could have a material impact. Triumph: Geolocation supplier GeoComply said it recorded over 100m geolocation checks across 23 regulated US states and the District of Columbia during Super Bowl LVII weekend. It registered 7.4 million accounts over the weekend, a 32% increase from last year.
Hail to the Chiefs: Ahead of the game, Macquarie noted most operators were more concerned with “taking advantage of customer acquisition and engagement opportunities” leading up to the Super Bowl.
ICE shardsThe feedback from last week’s show at the Excel was that operators were heads down concentrating on the year ahead. Over excited, over optimistic and over here: The team at JMP noted operators were hopeful of “ignoring the macro” and concentrating on the opportunities ahead. But they noted that industry insiders believed there were more redundancies to come.
Building blocks: The team at Jefferies noted that Light & Wonder was keen to talk about its iCasino plans, including Lightning Box, which is generating one game a month in the US; ELK Studios in Europe; Playzido’s RGS, another new studio belong launched in Las Vegas; and advanced plans for Authentic Gaming’s live dealer product. The week aheadDraftKings will be the center of attention when it releases its Q4 earnings later this week. Fragile: The consensus on DraftKings is that it is making headway in its attempts to hit profitability by its self-imposed Q323 deadline, and such would be the conclusion from the recent share price moves.
Betsson will publish its Q4 earnings on Tuesday. Recall, it reported a 19% rise in Q3 EBITDA thanks to Latam and central and eastern European (i.e. Turkey) growth. On Wednesday, GiG takes to the stage with its first earnings since the completion of its €45m acquisition of AskGamblers.
Deal Talk #7: The latest edition will be sent on Tuesday. In this issue, we take a look at whether the sector bounce in January signals that the capital markets will once again be accessible?
Startup focus – DeepCIWho, what, where and when: Deep Competitive Intelligence (DeepCI) is a SaaS platform that detects and monitors commercial brands on affiliate websites. It was founded in 2021 by Riaan de Jager, a 20-year iGaming industry veteran, and Lewis Civin, whose background is in building analytics tools for the retail industry. Funding backgrounder: The company is entirely bootstrapped currently and de Jager says it is seeking a strategic partner. “But we are in no hurry, it is a matter of finding the right partner,” he adds. The pitch: De Jager says DeepCI.com “is completely unique” as the first platform that is custom-built for affiliate managers. It combines traffic and keyword data and creates a brand profile for every affiliate page in 25 countries.
What will success look like? The aim currently is to “consolidate our foothold” in iGaming and expand the product suite in 2023 and, De Jager says, “thinking about an exit at this time is a distraction”. ** SPONSOR’S MESSAGE ** Tried, tested and proven over a decade in the highly-regulated US market, and continuing to expand across Europe, Latin America, Asia and Africa. GeoComply harnesses the power of its market-leading geolocation technology to protect against fraud, including fake account creations, bonus abuse, account takeovers, stolen identities, money laundering, and more. Visit geocomply.com. DatalinesIowa: In sports betting, handle fell 25% YoY but as can be seen from the YoY comparison, there was varied dispersal across operators and also some de facto market exits. Notably, it can be seen that both WynnBet and BallyBet saw their handle fall to near-enough zero. 🔭 Iowa YoY variation in handle Maryland: Sports-betting GGR was down nearly 30% to $59.5m, with handle also down 11.2% to $441.3m in January, while OSB generated $58m of the total GGR figure.
Indiana’s gaming AGR was up 8.2% to $195m, sports-betting AGR was up 3.2% YoY to $36.7m, while handle dropped 14.4% to $427.9m in January.
Missouri casino GGR rose 5.8% to $153.5m in January, while in Iowa casino GGR rose 4.2% YoY to $136.1m with visitation levels up 5.7%. Sports-betting GGR rose 16% to $16.5m, but handle was down 23% to $233.6m. NewslinesSportico is reporting that Diamond Sports Group, which owns the 19 regional sports networks (RSNs) operating as Bally Sports, is set to file for bankruptcy next week. 888’s subsidiary VHL Michigan has been approved by the Michigan Gaming Control Board to operate the OSB and iCasino website of the Hannahville Indian Community. Global Payments is selling its gaming division to Parthenon Capital Partners for $415m. What we’re readingYass man: Susquehanna’s Jeff Yass, the professional oddsmaker. The real super league: the English Premier League’s rise and rise. Calendar
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Weekend Edition #84
Friday, February 10, 2023
DraftKings' Sell note, FanDuel's New York dominance, Super Bowl set to break $1bn, Wynn's new notes +More
MGM: it’s a ‘no’ on Entain
Thursday, February 9, 2023
MGM says it's time to end the Entain M&A speculation, Wynn Resorts says it is seeing a non-junket VIP return +More
Kindred provisions for £7.1m UK fine
Wednesday, February 8, 2023
Kindred sets aside funds for UK regulatory settlement, UK ministerial reshuffle uncertainty, Red Rock looks to Durango completion +More
The Startup Month #7
Tuesday, February 7, 2023
How to do ICE, Lloyd Danzig on sports betting, funding updates +More
DraftKings soars on January optimism wave
Monday, February 6, 2023
January's sector bounce, ICE previews, World Cup differential, the week ahead, startup focus – Virtually Sports +More
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