Earnings+More - Patience pending
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The waiting gameGo big: The opening of the regulated market in Brazil has caused much excitement particularly for the 67 recipients of definitive and provisional licenses.
The prize: The promise of the Brazilian online market is clear: the analysts at Vixio suggested on the cusp of the market opening that it could be worth $2.9bn in annual GGR this year rising to $6.8bn by 2028.
The NSX factor: Ahead of the market launch, the most significant piece of Brazilian-related M&A came with Flutter’s $350m purchase of a controlling stake in NSX, the owner of the aforementioned Betnacional.
“Flutter’s was a ballsy move,” suggested one M&A consultant, who spoke to E+M on condition of anonymity. “Others are sitting on their hands to see what happens,” said another industry consultant source, who also opted for anonymity.
Compass points: Paul Leyland from Regulus Partners pointed out the first few months will be difficult to navigate for every participant. A lot of this is around the level of initial marketing spend, with some very big sums likely to be deployed in the initial months.
The name most often mentioned as being interested in buying its way into Brazil is DraftKings. While the company has consistently said it is concentrating on the US opportunity, the potential in Latin American is thought to entice.
Cautionary tale: Sources suggested the focus on its home market means DraftKings is necessarily more cautious about international M&A than Flutter. But the worry for DraftKings or any other company taking the wait-and-see approach is that the market will likely develop very quickly.
Buying the title: The dilemma, then, for companies still on the sidelines is whether to buy now with all the attendant risk of not picking a winner – or wait until the market has found a settled shape and then pay the premium needed to buy one of the winners.
Most operators can't afford to invest endless resources into fraud prevention while remaining competitive. Luckily, sophisticated fraud protection is accessible with the right payments partner through a single integration.
Start fighting fraud a smarter way while reducing the cost of accepting payments with PayNearMe’s all-in-one payments platform built for the iGaming industry. +MoreWho wears the crown? Wynn Resorts has bought London casino operator Crown London, which operates Aspinalls, from Australia’s troubled Crown Resorts for an undisclosed sum. The deal is expected to close in the second half of this year.
Star Entertainment: In a brief statement to the ASX, the even more troubled Australian casino group said its cash reserves had nearly halved since the end of September to A$79m ($49m).
Delaware North has selected Playtech to power its Betly OSB and iCasino operation. The partnership will launch first with Betly Ohio, with operations in Arkansas, Tennessee and West Virginia to be migrated in the coming months. Penn Entertainment has announced a further 10 sportsbooks across its casino estate will become ESPN Bet books, subject to regulatory approvals.
Read acrossExit stage left: In Compliance+More, the outgoing chair of the US derivatives regulator, Rostin Behnam, said he was concerned about the legality and social impact of political and event betting, which became an issue in the recent US election campaign. +More careersThe big move: Evolution has this week announced the imminent replacement of its CFO, with previous incumbent Jacob Kaplan to step down and be replaced by Joakim Andersson next month.
Simon Johnson is the new CEO of the Light & Wonder’s iCasino business. Johnson has been with Light & Wonder since 2017 and was most recently SVP and international MD. Separately, the company has promoted Glenn Huybrecht to VP and managing director of its Asia division. Imagine Live has appointed Martin Martirosyan as CEO, He will continue to retain his position of deputy CEO of parent company Digitain. BlueBet has confirmed the previously announced appointment of Matthew Tripp as chair following its merger with Betr is now completed. Tripp succeeds Michael Sullivan, who will remain on the board as a non-executive director. Ernesto Perez has been appointed director of technology at Pragmatic Play. Perez was most recently CTO at Boldplay. The latter firm has also confirmed that Valli Fragoso has stepped down from his role of director and CEO following the acquisition by Openbox.
Profit and schlossViennese twirl: Tipico has moved to broaden its footprint in German-speaking countries via the acquisition of Austrian sports-betting and retail gaming operator Admiral from Novomatic for an undisclosed sum.
Tipico is the acknowledged sports-betting market leader in Germany with an online operation and a 1,300 strong retail betting estate. It has been owned by private equity group CVC since 2016.
Grün and bear it: For its part, Novomatic said the sale would allow the business to concentrate on its international growth markets. Under the Admiral brand it operates sports-betting and iCasino in Germany, the UK and Spain and now ex-Austria.
Join 100s of operators automating their trading with OpticOdds. Real-time data. Proven trading tools. Built by experts. Unlock complimentary access until year-end at www.opticodds.com. By the numbers – Las VegasCatching a flat: The Las Vegas Strip suffered a 4% reverse in November with baccarat GGR down 18%, as this year’s F1 race failed to ignite in the same fashion as 2023’s inaugural event. Locals were also down 5% YoY.
Getting worse before it gets better: The analysts at Deutsche Bank noted December is up against a tough comp from 2023. The team is anticipating a high single-digital YoY GGR decline.
Plain sailing: But the JMP team noted February would be the last of the tough comps – up against the Super Bowl this time last year – “setting up the remainder of the year to face more traditional comps on the Strip.” ConnectionsThe big deal: Inspired Entertainment has announced that bet365 is to become the first customer to offer hybrid dealer roulette in the UK later this quarter.
QTech Games will carry online slot games from Clawbuster under a content partnership. Revolver Gaming’s online slot games are now available on Regal Technologies’ Sweepslots brand. ThrillTech can now distribute its jackpot product in the Netherlands after receiving certification from the KSA. Play’N GO has launched 50 of its iCasino games in Brazil. Meanwhile, Paysafe’s payment services are live in Brazil after the company received a payment institution license from the country’s central bank to operate in the newly regulated iGaming market. Does your Bet Builder supplier or in-house Same Game Multi solution support 13 sports, including all of the main global betting sports, plus local variants and even eSports? Does your product allow your end-users to place both Pre-Match and In:Play Bet Builders across multiple sports? Can you offer cashout across all Bet Builder transactions? Does your solution use your own odds rather than another opinion of the market? If the answer to any of these is ‘no’ then come and find out why over 170 operators are using the Algosport Bet Builder solution today. Algosport will be at ICE in Barcelona in January, so to book a no-nonsense conversation about improving your product or increasing your revenue, please drop us a line at ICE2025@algosport.co.uk or visit www.algosport.co.uk Earnings calendar
EveryMatrix delivers iGaming software, solutions, content and services for casino, sports betting, payments, and affiliate/agent management to 300+ global Tier-1 operators and newer brands. The platform is modular, scalable, and compliant, allowing operators to choose the optimal solution depending on their needs. EveryMatrix empowers clients to unleash bold ideas and deliver outstanding player experiences in regulated markets. An +More Media publication. For sponsorship inquiries email scott@andmore.media. |
Older messages
Fourth down
Wednesday, January 8, 2025
Flutter warns after 'historically bad' NFL season ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Luxury tax
Monday, January 6, 2025
DraftKings adds 'subscription' option in New York ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Out of left field
Friday, January 3, 2025
Crypto.com's further threat to OSB status quo ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Last chance saloon
Friday, December 20, 2024
Can Hollywood save Penn's online business? ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Jam today
Thursday, December 19, 2024
Gambling.com buys OddsJam for up to $160m ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
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