Apr 12: IGT bolsters igaming with iSoftbet buyout
Apr 12: IGT bolsters igaming with iSoftbet buyoutIGT agrees to by iSoftBet, Sportradar acquires VAIX, ICE day 1, Acroud trading update, YOLO invests in Enteractive +MoreGood morning. On today’s agenda:
Out-bloody-Rageous. Click below. IGT agrees iSoftBet deal
Soft machine: Announcing the deal, IGT noted it was buying a catalog of 125 games, more than doubling its proprietary content library to 225 games, while Deutsche Bank analysts noted the aggregation platform came with a further 4,600+ games.
Slightly all the time: The multiple of 20x FY21 EBITDA shows how much IGT was willing to pay to further its ambitions in digital gaming.
Hope for happiness: Deutsche Bank suggested IGT has enhanced its offer with a “stronger suite of customer experience-orientated titles”, an area where they suggest IGT was “lacking”.
**Sponsor's message: Spotlight Sports Group (owned by Exponent Private Equity) is a leading technology, content and media business specialising in sports betting. Its industry-leading Superfeed is used by the biggest betting brands in the world including bet365, Flutter and Entain. The content engine powers on-site engagement by delivering impartial expert betting insight for 20 sports in 70 languages. For more information visit: spotlightsportsgroup.com Sportradar acquires VaixA personal service: Gaming-related AI-based customer insights provider Vaix has been snapped up by Sportradar for an undisclosed sum.
Backgrounder: Founded by ex-PartyGaming/ex-Bwin-ers John O’Malia and Andreas Hartman, Vaix was founded in 2016 and has to date fed over 60m transactions into its system. Social reaction: On LinkedIn, John O’Malia appeared to indicate he would be leaving the business while Harman remained.
ICE day 1If you come back to California, you should just hit me up: Speaking yesterday, executives from California's Agua Caliente Casinos and Mohegan Entertainment were bullish on the prospects of both online sports-betting and gaming.
On the same panel, Saverio Scheri, COO of Agua Caliente Casinos, said:
The Cooler King: Betsson CEO Pontus Lindwall gave his take on the Netherlands market and the cooling-off period.
Grey matter: For Per Jaldung, chairman of the European Casino Association, there are no grey markets.
Lockdown: Pointing out how lockdowns had had a huge impact on online verticals, Caesars Entertainment board member Jan Jones Blackhurst said:
Acroud Q1 trading update
Driving profits: The gaming affiliate and affiliate network platform provider said the “solid outcome” for the quarter was driven by successfully executed cost synergies and the divestment of its consumer finance-facing assets.
Behind the numbers: Igaming affiliation generated revenue of €3m while the platform business was worth €3.9m. For the affiliate business, Europe provided 69% of revenue with 16% coming from North America and the rest of the world accounting for the remaining 15%. Pay it back: Acroud has also initiated a refinancing process during the quarter on its €16..7m debt and has appointed advisors to secure the refinancing of a bond maturing in Sep22. Yolo funds EnteractiveThe deal details: CRM provider Enteractive has announced it has received an undisclosed “several” million euro sum from Yolo Investments in return for a “non-controlling” equity stake.
What they say: Mikael Hansson, founder and CEO of Enteractive, said the new investment would help the company accelerate its growth including bringing with it a strong network” of industry contacts.
OneComply fundingDriving the news: The Vancouver-based automated compliance business OneComply has announced a Seed funding round led by Warner Investments with participation from Katie Lever, Benjie Cherniak and Quentin Singleton. Financing terms were not disclosed.
New York casinosBudget success: Over the weekend, Gov. Hochul reached an agreement on the state budget meaning that the licensing of up to three downstate casinos would now be fast-tracked. What this means: Analysts at CBRE said the move created “the largest land-based gaming opportunity in years”.
Estimates: CBRE suggests the potential TAM for the NYC area would be a GGR of ~$4.8bn for three casinos.
And the winner is… MGM: CBRE suggest MGM is best placed to win one of the licenses at its existing Empire City property.
New York sports-betting: Online sportsbooks have generated just under $5b in handle since statewide mobile wagering launched Jan 8. Those numbers were bolstered by $312 million in betting handle for the week ending April 3, according to the NYS Gaming Commission. Mobile GGR came in at $15.2m putting 2022 GGR total at $329.7m.
Jefferies digital traffic surveyAs you were: The monthly survey from the analysts at Jefferies looking at traffic data and social media engagement shows the top three remaining static in March led by FanDuel, DraftKings and BetMGM. Barstool and Caesars swapped places in fourth and fourth respectively. The gap between 6th and 12th widened. PartnershipsMaple Leaf Sports & Entertainment has announced its second official sports-betting partnership in a week, this time with PointsBet. MLSE previously announced a deal for the Toronto Maple Leafs, Raptors, Argonauts, Marlies, and FC with Flutter’s FanDuel and PokerStars. DatalinesIndiana: GGR for Mar22 was up 9.9% YoY to $225.6m and a 5.8% increase on Mar19. Sports-betting handle was $476.8m, up 51% YoY and up 17% MoM while AGR was up 24% YoY to $32.6m.
Macau: GGR remains at its lowest levels since October, the last time Macau had a local COVID case. Weekly figures show GGR at US$123m, down 87% on the same week in 2019 and 64% down YoY.
NewslinesThe sign of four: Hard Rock Digital has officially launched its sportsbook app in Arizona, in partnership with the Navajo Nation Gaming Enterprise (NNGE). It brings Hard Rock Digital’s state tally to four alongside New Jersey, Iowa and Virginia. Not interested mate: The expression of interest process for the sports-betting license in Victoria has been suspended due to… a lack of interest. It comes after several potential bidders pulled out of a process that started in Sep20. Tabcorp’s monopoly is set to expire in 2024. Is this safe? Paysafe has expanded its partnership with Betsson to include the operator’s debut in Colorado under its Betsafe brand. What we’re listening toCarsten Koerl from Sportradar speaks to Bloomberg’s Business of Sports podcast. What we’re readingIn the ring: NBA chairman Larry Tanenbaum has joined the consortium being put together by Stephen Pagliuca. Welcome to the funhouse: Magic mushrooms help ease depression. On socialLook who it isn’t: Bet365 tops online Ontario poll. Asked Ontario bettors in our Discord what was their favorite betting app after one week of legalized betting.
These were the results:
Bet365: 36%
FanDuel: 24%
BetRivers: 12%
PointsBet: 12%
BetMGM: 11%
theScore: 5%
Agree or disagree? Who is too high or too low? Calendar
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Apr 11: ICE is back
Monday, April 11, 2022
ICE is back, Kindred issues a profit warning, American Affiliate analyst call, startup focus - quarter 4 +More
Apr 8: Weekend Edition #41
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888 completes cash raise, Entain analyst reaction, MGM Resorts analyst update, WE+M quarterly awards +More
Earnings+More podcast #4
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Thursday, April 7, 2022
888 revises William Hill buyout terms, Entain Q1 trading update, NFL Fanatics investment, affiliates in Ontario, Gaming Society seed finding +More
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Ontario launch, WE+M startup funding quarterly survey, Jefferies digital update, New York and Nevada data, GiG complete Sportnco deal +More
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