FinancialBuzz.com News Commentary
NEW YORK, March 8, 2021 /PRNewswire/ -- Last year has shaped up to be crucial for the sports betting industry in the United States, as the U.S. gambling industry won big in the election. Three states had measures on the ballot to legalize sports betting: Maryland, Louisiana and South Dakota. All voted yes. Before the election, Tennessee became the 19th state where sports betting became effective. However, the law stipulates that 80% of the tax revenue raised from sports betting in Tennessee will go to help fund education; 15% will be allotted for local government infrastructure projects, and 5% will go towards improving mental health in the state, according to a report by the Martinsville Bulletin. Besides the election results, another factor most significant to the boost of the sports betting segment is attributed to the usage of smartphones, which have easy user interfaces and can be used at anytime and anywhere. According to a report by the Associated Press, companies like DraftKings are making serious strides in developing easy-to-use systems available to the public through partnerships with sports leagues. Bragg Gaming Group Inc. (OTC: BRGGF) (TSX-V: BRAG), Wynn Resorts, Limited (NASDAQ: WYNN), Alphabet Inc. (NASDAQ: GOOG), 888 Holdings plc. (OTC: EIHDF), International Game Technology PLC (NYSE: IGT)
Recently, the first college sports deal with a gambling company outside of Nevada was implemented. According to a report by Bloomberg Tax, the deal between the University of Colorado and PointsBet—an Australian based bookmaker launching its U.S. headquarters in Denver, is worth USD 1.625 Million, and includes tax-write offs. It is "the latest in an explosion of ad-deals between sportsbooks and teams or leagues, although it's the first collegiate pact of its kind," the report explains.
Bragg Gaming Group Inc. (OTCQX: BRGGF) (TSX-V: BRAG) announced yesterday that, "wholly-owned subsidiary ORYX Gaming is taking Croatian land-based operator Senator online with a complete turnkey solution.
The ORYX solution includes the ORYX iGaming Platform, ORYX Hub and a wide selection of ORYX RGS and third-party aggregated content. Senator, which operates 17 casinos in Croatia, will leverage ORYX's proprietary set of tools including player and payments management, CRM and promotions, bonuses and rewards, fraud, rules engine, compliance, analytics and reporting, and CMS.
Senator also now has full access to ORYX Hub, which hosts an extensive library of more than 10,000 casino games from more than 100 providers, including ORYX's proprietary RGS content and a variety of third-party suppliers such as NetEnt, Greentube, EGT and Play'n'Go. Senator will utilize ORYX's real time data and player engagement platforms, including tools such as Real Time campaign management, Leaderboards and Tournaments, Achievements, Jackpots and more.
Senator also operates casinos in several other territories, including Macedonia, Kenya, Mauritius, Central and South America. The online launch in Croatia marks the company's first venture away from its traditional land-based interests.
Following a recently signed deal to move into the Netherlands, ORYX's Croatian partnership heralds its latest expansion in Europe, where it is licensed by the Malta Gaming Authority (MGA) and the Romanian National Gambling Office (ONJN). Its content is certified or approved in 18 other major jurisdictions. Underpinning its commitment to information security, ORYX was recently awarded an ISO/IEC 27001 certificate.
'The regulated market in Croatia is enjoying great growth and we have had great success in this jurisdiction so far,' said Matevž Mazij, Managing Director of ORYX Gaming. 'Our turnkey solution provides our partners with everything they need for a successful casino, sportsbook and lottery operation. Senator is an established and respected local operator, so to have been chosen by them to facilitate their entry into the online space is an honour. Our high-quality products and diverse content will allow them to hit the ground running with a premium online offering.'
'As the popularity of online gaming goes from strength to strength in Croatia, we are excited about taking our knowledge and expertise to launch an online offering for our existing customer base as well as a completely new audience,' said Dimitar Deskoski, CEO of Senator."
Wynn Resorts, Limited (NASDAQ: WYNN) announced earlier this week that WynnBET, the premier casino and sports betting app from the global leader in luxury hospitality, Wynn Resorts, is now a proud partner of the Detroit Pistons. As part of the multi-year deal, several new co-branded marketing efforts will be introduced that enhance the fan experience, providing fresh ways for the devoted base to interact with their favorite team beyond just game day – both online and off. Anchoring the partnership is a new initiative called Wynn Wednesdays, a direct-to-consumer promotion that is exclusive to the WynnBET mobile app and website. Every Wednesday during the Pistons regular season, Wynn Wednesdays will feature rotating opportunities to enter and win one of several prizes, including team and player memorabilia, tickets, and unique VIP experiences.
Alphabet Inc. (NASDAQ: GOOG) Play Store policies will allow gambling and betting Android apps that use real money in 15 more countries, including the U.S. The Google Play Store indicated on March 1st that, "Subject to restrictions and compliance with all Google Play policies, we allow apps that enable or facilitate online gambling in the following countries in the table below as long as the Developer completes the application process for gambling apps being distributed on Play, is an approved governmental operator and/or is registered as a licensed operator with the appropriate governmental gambling authority in the specified country, and provides a valid operating license in the specified country for the type of online gambling product they want to offer."
888 Holdings plc. (OTC: EIHDF) reported last year its partnership with Darren Rovell and The Action Network, a sports analysis and media company that provides premium real-time odds and in-depth data and tools, to host a poker tournament for players in New Jersey. The tournament will consist of a series of four weekly games played against Darren Rovell on the 888Poker platform with a USD 10,000 grand prize finale on July 5th.
International Game Technology PLC (NYSE: IGT) announced last year that its leading PlaySports platform will power world-class retail sports betting at Maverick Gaming's three Colorado-based casinos as well as interactive sports betting throughout Colorado via Play Maverick Sports. Through a multi-year agreement with Maverick Gaming, IGT will provide its proven PlaySports turnkey solution including user-friendly self-service PlaySports kiosks, to Grand Z Casino and Johnny Z's Casino in Central City, Colo. and Z Casino in Black Hawk, Colo. The IGT PlaySports platform, complete with a fully integrated Player Account Management (PAM) solution, will also power Maverick Gaming's "Play Maverick Sports" mobile sports wagering app.
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