It’s showtime! Fanatics launches in four states
It’s showtime! Fanatics launches in four statesFanatics launch, AGA quarterly review, Rank’s rise, GiG split +MoreGood morning. On today’s agenda:
Work it harder, make it better, do it faster, makes us stronger. ‘Redefining’ OSBFanatics Sportsbook is now live in four states. Harder, better, faster, stronger: The betting public in Massachusetts, Ohio, Tennessee and Maryland got their first real sight of the Fanatics Sportsbook after the company announced its official launch yesterday.
Currency movements: The much-trailed FanCash rewards program will allow consumers to earn anything between 1% and 5% of any wager in the Fanatics store. It can be converted either dollar-for-dollar into free bets or can be used to purchase team merchandise.
Crossing the RubiconTaking the laurels: Meanwhile, the dedicated Caesars Palace iCasino app has also been officially unveiled. It is now available in Michigan, New Jersey, Pennsylvania, West Virginia and Ontario in Canada.
** SPONSOR’S MESSAGE ** BettingJobs is the global leading recruitment solutions provider to the iGaming, Sports Betting and Lotteries sectors. Boasting a 20-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. Online Q2 surgeOnline revenue worth 23% of total gaming revenue in Q2. By the numbers: The latest data from the AGA showed revenue from online gaming rose 43% YoY in Q2 to $3.68bn versus a near 1% increase for commercial land-based gaming to $12.4bn, leaving the quarterly total up 8% to $16.1bn. For the first six months of the year, commercial gaming rose 12% to $32.7bn.
New Jersey and MassachusettsNew Jersey: Atlantic City’s casinos suffered a 3% YoY drop in revenue in July to $290m while iCasino rose 13.5% to $155m. Sports betting was also on the up with GGR rising 34% to $57.6m. Massachusetts: DraftKings maintained its dominance on sports betting with 50% share of the total GGR of $30m. FanDuel was a distant second with 34% followed by BetMGM with 8.6%. Massachusetts land-based GGR was down 0.1% YoY to $98.6m. Rank on the upCEO John O’Reilly says the UK bingo to casino group has “turned a corner”. Rolling with the punches: After listing a litany of challenges faced by the company in recent years, from the pandemic to the cost-of-living crisis, O’Reilly said Rank was on its way back despite like-for-like operating profits falling more than 50% YoY to £20.3m. “We’ve had a lot thrown at us and we’re on our way up,” he said. Revenues rose 7% to £680m.
Cull before the storm: For bingo, he said that coming out of the pandemic there were “simply too many bingo halls”. He said Rank had closed 15 of the weaker venues and now had a 56-strong estate.
Split endsGiG’s media and platform OSB split on course for H124. Record breakers: Current CEO Richard Brown said GiG’s decision to split the sportsbook backend business from the affiliate arm was being done for “no other reason than to drive success for the group and shareholders”.
Don’t ask, don’t get: GiG’s casino affiliate AskGamblers enjoyed a 40% rise in FTDs in Q2. He said he “didn’t exaggerate” the extent to which the GiG team had gone through the AskGamblers sites root and branch to optimize the product,
Earnings in briefRaketech: The gaming affiliate provider saw revenue rise 56% YoY to €17.6m, with EBITDA up 45% to €5.5m. The company said the growth was driven by its sub-affiliate network and the continued growth at its Casumba operation.
SharpLink Gaming: Revenue rose 86% YoY to $3.3m helped by the Dec22 acquisition of SportsHub. Affiliate marketing revenue rose 182% to $306k. ** SPONSOR’S MESSAGE ** What would you do with $100k in cash? Are you game…? Call recallFansUnite: CEO Scott Burton said FansUnite anticipated its affiliate live activation business betting hero to be cash flow positive in Q4 with three full months of College and NFL football ahead.
Playmaker: Brazil is “five years away from being awesome”, CEO Jordan Gnat told analysts, adding that he was “incredibly bullish” on the market given the company’s presence in the country’s sports media market.
NewslinesMystery buyer: Esports Entertainment Group said an institutional investor has agreed to buy a million shares of the company’s stock for ~$1m as well as pre-funded warrants to purchase an additional 4m shares for 19.35¢ per share. Proceeds will be used to “execute its turnaround and growth strategy”. NeoGames is to provide content to the Pennsylvania Lottery under an agreement with Brookfield Business Partners’ Scientific Games. Calendar
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