FinancialBuzz.com News Commentary
NEW YORK, April 5, 2021 /PRNewswire/ -- The online gambling industry has seen steady growth in its popularity for several years. However, the pandemic and its consequences have pushed the demand even further. Two major segments of the online gambling industry are online gaming (i-gaming) and sports betting. Both have proved to be pandemic proof segments. The sports betting segment in particular has benefited from a continuously improving and friendlier legal infrastructure. As a result of the evident spike in demand, Morgan Stanley reported that it now projects that the domestic sports betting industry will reach revenues of about USD 7 Billion by 2025, a major increase from the USD 5 Billion projected in June 2018 and reiterated last December, Casino.org reports. Trident Acquisitions Corp. (NASDAQ: TDAC), DraftKings Inc. (NASDAQ: DKNG), Roundhill Sports Betting & iGaming ETF (NYSE: BETZ), fuboTV Inc. (NYSE: FUBO), Skillz Inc. (NYSE: SKLZ)
As the legal infrastructure becomes more and more friendly towards sports betting across the country, announcements regarding investments in this sector have accelerated. For example, earlier in October, WynnBET, the digital gaming division of Wynn Resorts Ltd. that is responsible for Wynn's mobile sportsbook and casino app, announced a multi-year national sports betting partnership. As an Authorized Gaming Operator of NASCAR, WynnBET will collaborate with NASCAR to create and promote engaging sports betting experiences for racing fans across the United States.
Trident Acquisitions Corp. (NASDAQ: TDAC) and Lottery.com, which entered into a definitive agreement with Trident Acquisitions Corp. on February 22, 2021, announced breaking news last week that, "Katie Lever has been appointed the Company's first chief legal officer, who will be further supported by gaming compliance experts on the board of advisors, Mark Lipparelli and Ron Hopkinson. The Company is seeking to continue its expansion efforts and will leverage the combined legal and compliance expertise of these industry professionals to build the future of digital gaming.
Lever previously served as General Counsel to some of the gaming industry's largest global suppliers, including through the mergers of SHFL entertainment, Inc., Bally Technologies, Inc., Scientific Games Corp. and, most recently, as Chief Legal Counsel to Drew Las Vegas, a planned $4 billion integrated resort and casino on the Las Vegas Strip. She is a recognized gaming law specialist and an expert in compliance and government relations. Lever is a board member of Global Gaming Women and a Director and Audit Chair of Bank of George. Her track record also includes serving as the first Executive Vice President and General Counsel for Everi Holdings Inc.
"Katie is a seasoned expert in our highly regulated field and brings broad strategic leadership and experience to our team," said Lottery.com CEO Tony DiMatteo. "We look forward to Katie's guidance as we begin a new chapter as a public company and expand both domestically and internationally. I speak for the whole team when I say that we are thrilled to have her setting the course for the regulatory future of our industry."
Through her 25 years of legal experience and demonstrated successes, Lever has been recognized as one of the "Great Women of Gaming, Proven Leader," by Casino Enterprise Magazine, listed on the "25 People to Watch" and "Top Ten Women in Gaming" by Global Gaming Business Magazine, a "Woman to Watch," by Vegas, Inc., and inducted into the Nevada Women's Hall of Fame.
As CLO, Lever will navigate Lottery.com's expansion as a public company in the gaming industry, leading the charge on the Company's legal, compliance, and regulatory requirements.
"I am very excited to join the Lottery.com team at this exciting phase of the Company's growth," said Lever. "I am looking forward to leading our legal and compliance efforts as the Company continues to build on its success in a variety of new and innovative ways."
Alongside Katie, Lottery.com has a deep bench of legal acumen and advisory board members, including Ron Hopkinson and Sen. Mark Lipparelli.
Prior to joining Cooley LLP as a senior partner in the Private Equity group, Hopkinson was Global Head of Private Equity for both Latham & Watkins and Cadwalader. He has played a significant role in some of the largest leveraged buyouts and high-profile private equity transactions consummated in the marketplace on behalf of some of the world's largest private equity firms and private equity consortiums.
Ron earned his JD from Harvard Law School (Cum Laude) and BA in Economics from Harvard College (Phi Beta Kappa, Magna Cum Laude). He was selected by The American Lawyer as "Dealmaker of the Year" (2003).
Lipparelli is the founder of Gioco Ventures, LLC, a strategic advisor to clients worldwide in the gaming, entertainment, investment and sports industries. With over 25 years of gaming and entertainment industry experience in various senior level capacities, he is frequently engaged in projects and advocacy on a wide range of gaming, technology, and public policy.
Lipparelli currently serves as the Chairman of the Board of Directors of Galaxy Gaming, Inc. and serves on the Board of Directors of Golden Entertainment, in addition to serving as a member of the Board of Directors of the National Center for Responsible Gaming, a Co-Moderator of the Executive Development Program and is a co-founder of the International Center for Gaming Regulation at UNLV. He has also completed a four-year term on the Nevada State Gaming Control Board, including his final two years as Chairman, and was named as Regulator of the Year for the Americas by the International Masters of Gaming Law.
Lipparelli graduated from the University of Nevada, Reno with an undergraduate degree in Finance, Master of Science degree in Economics, and is a graduate of the Executive Development Program sponsored by the Institute for the Study of Gambling and Commercial Gaming.
On February 22, 2021, the Company entered into a definitive agreement with Trident Acquisitions Corp. (Nasdaq: TDACU, TDAC, TDACW) to become a publicly-traded company on The Nasdaq Stock Market. Trident and the Company intend to publish an investor presentation relating to the proposed business combination in the coming weeks."
For our latest "Buzz on the Street" Show featuring Lottery.com recent corporate news, please head over to: https://www.youtube.com/watch?v=IAhnDoKadfM&ab_channel=FinancialBuzzMedia
DraftKings Inc. (NASDAQ: DKNG) announced last week that it had acquired Vegas Sports Information Network, Inc. (VSiN), a multi-platform broadcast and content company delivering trusted sports betting news, analysis, and data to U.S. sports bettors since 2017. The acquisition will enable DraftKings, which is live with mobile and/or retail sports betting in 14 states, to further build out its content capabilities and will augment VSiN's ability to broaden their audience alongside the expansion of legal sports betting in the U.S. "VSiN creates authentic and credible content that resonates with sports bettors at every level, whether they're experienced or new to sports betting," said Jason Robins, DraftKings' co-founder, CEO and Chairman of the Board. "In addition to its brand equity among sports bettors and engaging talent roster, VSiN also has an established infrastructure that DraftKings can immediately help expand, in the hopes of adding value to consumers who are looking to become more knowledgeable about sports betting."
Roundhill Sports Betting & iGaming ETF (NYSE: BETZ) is designed to offer investors exposure to sports betting and iGaming industries by providing investment results that closely correspond, before fees and expenses, to the performance of the Roundhill Sports Betting & iGaming Index. The Roundhill Sports Betting & iGaming Index is the first index globally designed to track the performance of the sports betting and iGaming industry. The Index consists of a tiered weight portfolio of globally-listed companies who are actively involved in the sports betting & iGaming industry.
fuboTV Inc. (NYSE: FUBO) announced on March 3rd, it has secured market access agreements for its forthcoming fubo Sportsbook in Indiana and New Jersey through Caesars Entertainment Inc. "We could not be more excited to bring fubo Sportsbook to market in the fourth quarter, and today's market access licenses for Indiana and New Jersey will help us reach even more consumers at launch," said David Gandler, co-founder and CEO, fuboTV.
Skillz Inc. (NYSE: SKLZ) reported earlier this year that it is teaming up with the National Football League (NFL). As part of the agreement, the two sports organizations will host a global game developer challenge. Competing developers will have the opportunity to develop an NFL-themed mobile game. The game will be powered by the Skillz esports platform and will have joint marketing support from both the NFL and Skillz. The combination of the NFL brand and the Skillz platform will set the stage for the future of electronic sports competition. "The NFL is an iconic brand that is synonymous with American sports, and Skillz is thrilled to help power their esports competitions on mobile," said Andrew Paradise, CEO and founder of Skillz.
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