Earnings+More - Was Playtech prepared to jettison B2B?
Was Playtech prepared to jettison B2B?Playtech/888 bid rumor, Fanatics in Connecticut, UK stats, startup focus – BettorOff +More
You're moving too fast and I don't think it's right. M&A rumorFailed 888 bid suggests a Playtech B2B/B2C split was on the cards. B2B hive: Playtech was prepared to hive off its B2B operations and bolster its B2C operation via a £700m bid for 888, according to a report in the The Sunday Times. The summer bid was ultimately rejected as undervaluing the operator behind the 888 and William Hill brands.
🛒 Bargain basement: 888 is revisiting its spring lows Deal talk instantFeeling the heat: The report quoted an insider as suggesting Playtech was ready to “hive off” its B2B operation while merging its consumer-facing Snai business in Italy, and sources suggested that such a proposal would be “very credible” and accretive for Playtech shareholders given the company is trading at a discount to its sum of the parts.
Sportsbooks! Checkout some of Matchbook’s latest quotes across NFL, NCAAF, MLB & NBA: NFL: NY Giants/LV Raiders O37.5; $107k @1.95 NCAAF: Marshall +3.5 (vs Appalachian State); $34k @ 1.83 MLB: ARI Diamondbacks ML (vs TEX Rangers); $36k @ 1.99 NBA: NO Hornets +12.5 (vs DAL Mavericks); $170k @ 1.90 Matchbook pricing and brokerage service is your connection to the sharpest pricing and global liquidity, helping you to manage risk and fortify your margins. Stop being forced to limit customer stakes due to market liability. Stop being caught out by stale prices and one sided markets. Matchbook B2B, because the best price is for everyone. Find out more at http://www.matchbook.com/promo/b2b or email b2b@matchbook.com +MoreFanatics has been selected by the Connecticut Lottery as its new sports-betting partner, replacing Rush Street, which opted to bring an end to its deal in March this year. The partnership will launch in mid-December in 10 retail locations as well as online.
Opening of a fridge: The Seminole Hard Rock Hotel in Hollywood Florida will host celebrities and influencers on the red carpet for the debut of craps, roulette and retail sports betting on Dec. 7. By the numbersThe ESPN Bet app has been downloaded 1.7m times in its first 16 days of operation, grabbing a 65% share of downloads, followed by FanDuel (14%) and DraftKings (11%). The team at Jefferies noted the daily download total in the last three days was down to 35k from 200k in its initial launch period. The week aheadBetMGM will be hosting a business update later today, including presentations from CEO Adam Greenblatt and CFO Gary Deutsch, plus an analyst Q&A. Also this week, the details of Entain’s settlement with HMRC over the deferred prosecution agreement (DPA) in relation to the Bribery Act charges and its previous activities in Turkey are set to be made public. Career pathsNorsk Tipping has appointed Tonje Sagstuen as managing director. The long-time Norsk executive has served as acting CEO since September. Tabcorp has named Mark Howell as CFO. Howell, who joins from Coles, will transition into the role by Jun24. Sönke Martens has stepped down as CCO of Zeal Network, but will remain with the German online lottery products provider until February to assist with transition. Sean Hurley has joined Catena Media‘s board as a non-executive director, replacing Per Widerström, who left for 888 in August. UK by the numbersToughing it out: The latest figures from the UK Gambling Commission for the year to March 2023 show the online sector was resilient even in the face of the uncertainties caused by the tougher regulatory backdrop and the then-upcoming White Paper.
Not the script: The team at Regulus pointed out this overall rise goes against what has been said by some of the major operators about the overall market. Indeed, the data suggested the belief on the part of market observers that regulatory changes, self-imposed social responsibility changes and the cost-of-living crisis were affecting the overall market was “not correct”.
Total gambling revenue rose 6.8% to £15.1bn, while revenue excluding the lottery was up 9.3% to £10.9bn. Land-based gaming rose nearly 21% to £4.5bn as it continued its post-pandemic revival.
Analyst takesLas Vegas Sands and Texas: The investment in the Dallas Mavericks on the part of Miriam Adelson and her family strengthens the position of Las Vegas Sands in Texas, according to Jefferies. Last week, Adelson sold $2bn of shares to fund the purchase of a majority share in the NBA franchise.
Venture capital firm Yolo Investments manages in excess of €500m in capital across 100 exciting fintech, gaming and blockchain companies. The Yolo Investments' Gaming fund, regulated by the Guernsey Financial Services Commission, has taken positions in fast-growth suppliers and operators, including Dabble and Enteractive. Yolo Investments (yolo.io) wants to hear from readers of this newsletter. Get in touch with your pitch, or for a chat about innovative products which can plug into our investment ecosystem. Startup focus – BettorOffYou Bettor, you bet: BettorOff is a mobile technology platform that combines generative AI, natural language processing (NLP) and large language model (LLM) technologies with robust data and crowdsourcing “to build, foster and grow the world’s most verifiable, trustworthy and expansive wagering information community”, says Alex Dubin, co-founder and CEO.
Money talk: The company is in the middle of a $2.5m funding round, of which $1.5m has already been secured. The previous funding round closed around 10 months ago, raising $1.1m from angels, private investors and family offices. Take your pick: “The opportunity that led us to build BettorOff was simply to address the glaring inequity within the sports-wagering information community caused by a lack of transparency and accountability by those selling picks,” explains Dubin.
The reaction to the model has been “overwhelmingly” positive, says Dubin. “The necessity of bringing transparency to online sports-betting pick sales as well as providing a place for the betting community to virtually gather is unquestioned.” It’s good to chatbot: In the medium-term, the company plans to launch the BettorOff AI chatbot interface, which will “allow our community to query our database for everything from arbitrage opportunities to high payout parlay bets”.
Growth company newsSports-betting marketing and technology platform BettorView will provide its plug-and-play solution to NorthStar Gaming. Betting exchange Novig has partnered with Intelitics to help drive user acquisition in Colorado. ALT Sports Data is to be the sole distributor of sport-betting data for MotoAmerica’s race events, including the AMA Superbike Championship. Former NBA champion Metta World Peace has made an undisclosed strategic investment in social parimutuel betting system Sparket through his Artest Management Group. BettingJobs is the global leading recruitment solution provider for the iGaming, Sports Betting, and Lottery sectors. Backed by a 20-year track record of successfully supporting the iGaming industry, it's no surprise BettingJobs is experiencing rapid growth and outstanding results. Does your company plan to expand its teams to cope with strong demand and growth? Contact BettingJobs today where their dedicated team members will help you find exactly what you are looking for. Calendar
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