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In turnaroundRelief rally: New CEO at Entain, Gavin Isaacs, has displayed impeccable timing, joining the company a week before it released a trading update that caused its shares to spike 10% at one point on Monday, as he began a week of investor meetings.
Vacuum cleaner: Isaacs’s appointment was announced in July, more than six months after former CEO Jette Nygaard-Andersen left under something of a cloud. In the intervening period the company was led by interim CEO Stella David, who now fulfills the role of company chair.
Gavin and hasty: CBRE noted the lack of detail on any specific strategic direction from the gaming industry veteran now in the top seat at Entain.
Shoulder to the wheel: Looking at the news about BetMGM and the utilization of Angstrom’s odds and trading capability, the CBRE team suggested the new features “should” allow BetMGM to improve its margin through more efficient pricing and increasing the mix of higher-margin bets.
🎉 A warm welcome for Isaacs at Entain Join 100s of operators automating their trading with OpticOdds. Real-time data. Proven trading tools. Built by experts. Meet us at SBC Lisbon & G2E Vegas. Join top operators at www.opticodds.com. +MoreSitting on the sidelines: ESPN Bet’s launch in New York has been held up by regulatory delays, according to a report from Covers, which suggested the company may not receive the green light from the New York State Gaming Commission until after a meeting scheduled for late September. Wynn Resorts has announced an $800m offering of new debt. It will be used in part to pay off the $130m forfeiture to the DoJ in the recently settled unlicensed money transfer case, with the remainder going towards retiring debt due in 2025. IGT has also tapped up the money markets, saying it will be offering euro-denominated notes which will go towards the repayment of $499m of old debt. The exact amount for the raise is yet to be announced. MGM Resorts’ Osaka, Japan casino will see construction delayed for two months with work pushed back until after the World Expo 2025, which takes place in the city between April and October next year. Playtech and Rush Street Interactive have entered into a strategic collaboration with the release of slots and live dealer content across RSI’s operations in New Jersey, Michigan, Pennsylvania, Ontario and Mexico. Pop-up casino: Fifth Street Gaming has received approval for a two-day non-restricted gaming license from the Las Vegas City Council for use at the for sale Gold Spike and Oasis Hotel. The two days of gaming will take place on September 30 and October 1. NFL week wonFirst down(load): FanDuel led the first week of the NFL download chart with a 34% YoY gain, as total downloads rose 17% YoY to 1.2m. The 426k of downloads represented 36% market share, in data provided by JMP.
Switch on: Nielsen ratings showed viewership across the opening weekend up 14% over the first five TV windows of the NFL season. Hold off: The team at Macquarie estimated that week 1 hold was down to 7% compared to the long-term average of 9%. Early hits: The early data from the first weekend of the new NFL season suggested operators would be pleased, with total transactions up 73% YoY, according to data from geolocation provider GeoComply.
PointsBet HG Vora salePointing the right way: PointsBet’s shares rose nearly 11% on Wednesday and are up over 25% so far this week after news emerged that hedge fund HG Vora appears to be selling down its holding in the company.
Earnings in briefGaming Realms: The licensed game provider of Slingo and its variants said H1 revenue rose 18% to £13.6m, helped by a 28% rise in content licensing to £11.2m. Adj. EBITDA was up 21% to £5.8m.
Seamless Onboarding, Happy Players. It's That Simple. Experience the perfect balance between stringent identity verification and effortless onboarding with IDComply, a groundbreaking solution from GeoComply. Take your pass rates to new heights and shield your business from fraudulent activities. Venture playgroundLearn first-hand experiences from gaming founders on high-growth tips and network with the most influential investors, founders and leaders. Click here to register. Challenger eventGeoComply has released some details of the participants at its Challenger event being held on the Monday of G2E at the Fontainebleau, with Bill Foley, the legend behind the Golden Knights, set to provide the keynote.
Line up: Foley joins a top-notch list of speakers, including Gustaf Hagman, co-founder and CEO at LeoVegas; Adam Wexler, founder and executive chair at PrizePicks; Omer Sattar, co-founder and CEO at Sightline Payments; Ishan Haque, executive and head of business at Shuffle; and Nicky Senyard, founder of Income Access.
Growth company investingDubClub: The new platform that aims to connect regular punters with handicappers and betting experts has raised $7.5m in a Series A funding round led by Renegade Partners. The platform was founded by CEO Ryan Gaertner and fellow co-founders Andrew Daschbach and Lewis Burik. Profluencer: David Sargeant has announced he is joining sports investment fund Profluence Capital as an investor/advisor. Profluence Capital was founded by Andrew Petcash and Mitch Baruchowitz.
Startup focus – StatX SportsWho are you? Founded in Atlanta in 2022, StatX Sports is led by Shawn Tucker, CEO, and David Lu, CTO, who both previously worked for a $2bn hedge fund specializing in casino and sports-betting investments. What’s the big idea? StatX was created to “fix the problem” of expensive, low-quality odds and data products for sports outside of the Big 5, such as cricket, women’s sports, combat sports and motorsports.
What they say: “We’ve built a platform from scratch using machine learning and AI to create pricing models. Our tech stack is modern and we’re using software to replace labor-intensive roles, so our cost to build is much lower than incumbents,” says Tucker.
Funding backgrounder: StatX raised $600k in a pre-seed round in 2022, with backers including Parvinder Thiara, Ike Greenstein and David Grice. Growth company newsBetting exchange Sporttrade has received its Virginia sports-betting license ahead of a planned October launch. Omnigame has announced that former Playmaker Capital CEO and founder Jordan Gnat has joined the company’s board. Algosport are regarded as one of the ‘best-kept secrets’ in the gambling industry, currently supporting hundreds of Tier 1 and challenger operators with our proprietary Algosport Blackbox – a powerful engine capable of supercharging your sportsbook. We are best known for our next generation Bet Builder/Same Game Multiples product that offers the widest range of sports with unrivalled coverage, markets and features, both pre-match and in-play. To understand how we could help create more revenue get in touch at www.algosport.co.uk Events calendar
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Older messages
Watered down
Monday, September 9, 2024
Penn bid would be dilutive unless it monetizes Flutter stake, say analysts ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Back to the drawing board
Friday, September 6, 2024
DraftKings will seek 'other solutions' after player surcharge retreat ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Kissing frogs
Wednesday, September 4, 2024
Supply side M&A chatter gets louder ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Selective amnesia
Friday, August 30, 2024
DraftKings surcharge reversal 'forgotten' with Simplebet M&A ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Bun fight
Wednesday, August 28, 2024
Brazil could be be a market opening like no other ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
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