FinancialBuzz.com News Commentary
NEW YORK, Oct. 29, 2021 /PRNewswire/ -- The U.S sports betting market continues to grow at a rapid pace in large part thanks to a friendlier legal infrastructure that is still developing. The new wave of states passing friendlier legislation towards sports betting is the direct result of the U.S. Supreme Court decision to overturn PASPA (Professional and Amateur Sports Protection Act) of 1992 back in May 2018. In addition, due to the pandemic, this market has attracted further attention, as online gambling started to rise in popularity and the sports betting segment is a major segment in that industry. And, according to data provided by Zion Market Research, the sports betting market gathered revenues of about USD 131.1 Billion during 2020 and is slated to earn revenue of approximately USD 179.3 Billion during 2028. FansUnite Entertainment Inc. (OTCQX: FUNFF) (CSE: FANS), International Game Technology PLC (NYSE: IGT), Endeavor Group Holdings, Inc. (NYSE: EDR), Caesars Entertainment, Inc. (NASDAQ: CZR), Las Vegas Sands (NYSE: LVS)
The shift to a more favorable attitude towards online gambling services is visible across the board. According to data published AGC, nearly 7 in 10 (69%) Americans say that gaming provides a positive benefit to the U.S. economy and 63% agree that the industry provides high-quality jobs. Moving forward, as the legal infrastructure continues to become friendlier towards online gambling and sports betting in particular, the trend of partnerships with various leagues and teams across the country is expected to accelerate. "When legislatures return in earnest, we firmly believe the number of states ready to consider accelerating mobile sports betting and online gaming legislation to drive tax revenue will expand substantially," said Matt King, CEO of FanDuel, according to ESPN.
FansUnite Entertainment Inc. (OTCQX: FUNFF) (CSE: FANS) announced yesterday breaking news that, "the PGL Major 2021 in Stockholm, Sweden commenced on October 26, 2021 and FansUnite's Brazilian brand, Vamosgg.com ("VamosGG") is offering pre-match and in-play wagers for the tournament in Brazil on its betting platform.
On the event's first day, VamosGG experienced a massive surge in site traffic, stemming from the promotion of the betting platform on the Twitch streams and chatbox of VamosGG's partner, Gaules, the top Portuguese-speaking Twitch streamer.1 In the first two days of the Major, VamosGG recorded more than 1,300 new registrants.
As previously announced, FansUnite, in partnership with Gaules, secured the Exclusive Gaming Partner rights for the Brazilian broadcast of this tournament. As a result, the Company will be able to leverage CS:GO's massive fanbase in the country and provide wagering services to Brazilian esports fans, all while gaining brand visibility through advertisements and promotions throughout the event. In addition, VamosGG will be sponsoring the exclusive Brazilian broadcast of the event for the Gaules.tv community.
'The PGL Major in Stockholm is the largest CS:GO tournament of the year and will be hugely popular, especially in Brazil where we have secured Exclusive Gaming Partner rights for the event,' said Scott Burton, CEO of FansUnite. 'Brazil has a massive population and a large gaming community that is passionate about esports, resulting in lucrative opportunities that we can capitalize on among Brazilian esports bettors through VamosGG. Having over 1,300 new users register on VamosGG in the first two days is an outstanding return on our investment in the event.'"
For our latest "Buzz on the Street" Show featuring FansUnite Entertainment Inc., recent corporate news, please head over to: https://www.youtube.com/watch?v=vRIdiIi0Pd0&ab_channel=FinancialBuzzMedia
International Game Technology PLC (NYSE: IGT) reported last month that its U.S. market-leading PlaySports platform will power sports betting at Angel Of The Winds Casino Resort in Arlington, Wash. Operated by the Stillaguamish Tribe of Indians, the casino will leverage IGT's PlaySports turnkey solution for retail and on-premise mobile sports betting. "Angel Of The Winds Casino Resort patrons will be able to experience this new and exciting form of gaming from anywhere on our property, thanks to IGT's omnichannel PlaySports platform," said Travis O'Neil, Angel Of The Winds Casino Resort CEO. "IGT's comprehensive PlaySports solution, paired with the company's extensive experience and expertise, will enable us to offer a world-class sports betting operation for many years to come."
Endeavor Group Holdings, Inc. (NYSE: EDR) announced back in September that it has entered into an agreement to acquire OpenBet, a leading content, platform and service provider to the sports betting industry, from Scientific Games Corporation (NASDAQ: SGMS) for $1.2 billion paid through a combination of cash ($1 billion) and Endeavor's Class A common stock ($200 million). The acquisition will complement Endeavor's position within the sports betting ecosystem, currently anchored by IMG ARENA, which works with more than 470 leading sportsbook brands worldwide to deliver official live streaming video and data feeds for more than 45,000 sports events annually. "OpenBet marks a strategic addition to our sports betting portfolio as we look to round out our technology and product offering for sportsbook operators and sports brands worldwide," remarked Ariel Emanuel, CEO, Endeavor. "The combination of OpenBet and our IMG ARENA business will enable us to expand our footprint across the entire sports betting value chain and further capitalize on the tremendous upside we see coming from this fast-growing global industry."
Caesars Entertainment, Inc. (NASDAQ: CZR) reported last week that its Caesars Sportsbook app is officially available for download and sign-up by eligible sports fans in Louisiana. In celebration of its longstanding presence in Louisiana, and in advance of the launch of mobile sports betting in the state, Caesars is excited to offer local sports fans an early chance to download the Caesars Sportsbook app, register, deposit funds, and explore a deep array of pre-match and live markets and odds – including for every local team. "Louisiana and the entire Gulf Coast region are a special part of the Caesars family. We couldn't be more excited to build on our longstanding commitments in the state with the launch of legal sports betting," said Eric Hession, Co-President of Caesars Digital. "We know how passionate Bayou State sports fans are about their teams and we're confident our brand-new Caesars Sportsbook app and the exciting offers we have for launch can offer them a sports experience that can't be matched."
Las Vegas Sands (NYSE: LVS) ventured into sports entertainment when it has announced in 2019 that five-time Major Champion Phil Mickelson and rising star Li Haotong will be the company's guests in Macao on October 21st. The visit will be highlighted by a youth clinic conducted by the two golfers. The trip will be first visit to Macao for Mickelson, the World Golf Hall of Famer. "We are excited to have Phil and Haotong in Macao and look forward to them interacting with our guests and the local community," said Rob Goldstein, the company's president and chief operating officer. "This is yet another opportunity to put a spotlight on Macao as a world-class leisure and business tourism destination. Phil Mickelson has a tremendous international following and Haotong's popularity is only going to continue to rise, especially as he plays in events like the 2019 President's Cup later this year. It will be great to have them both in Macao." This event is just one example of Las Vegas Sands role in bringing world-class sporting events and professional athletes to Macao. Sands has demonstrated its commitment to increasing access to opportunities for young people in Macao through its partnerships with ambassadors like British football icon David Beckham.
Subscribe Now! Watch us report LIVE https://www.youtube.com/FinancialBuzzMedia
Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz
Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz
Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/
FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.