FinancialBuzz.com News Commentary
NEW YORK, Nov. 2, 2021 /PRNewswire/ -- As the legal infrastructure becomes increasingly favorable towards sports betting solutions across the country, announcements regarding investments in this sector have accelerated. In fact, 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. (OTC: FUNFF) (CSE: FANS), Caesars Entertainment, Inc. (NASDAQ: CZR), DraftKings Inc. (NASDAQ: DKNG), MGM Resorts International (NYSE: MGM), Bally's Corporation (NYSE: BALY)
As the sports betting market continues to grow in the United States, more and more companies are transitioning from the traditional gambling & casino business model to one that includes sports betting. In addition to advances in technology, which now allow easy access to various betting services, more states are adopting a friendlier legal approach to the market. As a result of these recent developments, the sports betting market has significantly grown in popularity over the last couple of years, igniting a series of mergers and acquisitions in the industry. For example, earlier this summer, DraftKings agreed to acquire Golden Nugget Online Gaming for USD 1.56 Billion in stock. Golden Nugget Online shareholders will receive 0.365 shares of DraftKings stock, according to a report by CNBC. Golden Nugget Online shares surged nearly 48% on the news, while DraftKings stock remained relatively flat after the deal's announcement.
FansUnite Entertainment Inc. (OTCQX: FUNFF) (CSE: FANS) announced yesterday breaking news that, "it has formally submitted its application to the Alcohol and Gaming Commission of Ontario (the "AGCO") to become a fully registered Gaming Related Supplier - Manufacturer.
As the holder of a Gaming Related Supplier - Manufacturer license, FansUnite would be able to provide Chameleon, its full service, proprietary sports, esports and casino white label gaming platform, to other AGCO approved operators.
This past August, the Canadian government approved Bill C-218, paving the way for provincial and territorial governments to manage single-event sports betting and licensing in their respective jurisdictions. Ontario, Canada's largest province, is the first to move forward with accepting applications from external iGaming operators.
'As a Canadian grown company, we've been looking forward to the day where we can operate in our home country,' said Scott Burton, CEO of FansUnite. 'Ontario's success will set the framework and serve as the blueprint for how the rest of the provinces could approach regulated gaming. That said, we are eager to be a part of that success.'
FansUnite currently holds B2B and B2C licenses from numerous gaming commissions, including top tier jurisdictions such as the United Kingdom and Malta."
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=dujI6MfSAC
Caesars Entertainment, Inc. (NASDAQ: CZR) reported last month 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."
DraftKings Inc. (NASDAQ: DKNG), The New Hampshire Lottery and Filotimo Casino & Restaurant announced on October 18th, they are teaming up again to expand retail sports betting in New Hampshire. Manchester-based Filotimo Casino & Restaurant, which houses DraftKings Sportsbook at Filotimo, today opened a sister retail sports betting establishment in Dover under the same name located at 887 Central Avenue in Rollinsford. The Filotimo property is shared between the city of Dover and the town of Rollinsford, with the building located in Rollinsford. DraftKings Sportsbook at Filotimo in Dover marks New Hampshire's third retail sportsbook; DraftKings Sportsbook at The Brook in Seabrook opened in August 2020 and DraftKings Sportsbook at Filotimo in Manchester opened in September 2020. "Sports betting has been a success in New Hampshire since launching nearly two years ago and we are pleased to continue working with DraftKings and Filotimo Casino & Restaurant to expand sports betting opportunities for our players," said Charlie McIntyre, Executive Director, New Hampshire Lottery. "The new DraftKings Sportsbook at Filotimo in Dover will further cement New Hampshire as the premier sports betting destination in the northeast, and we know this location will continue to make a major positive impact on our ongoing efforts to maximize revenue for our schools here in New Hampshire."
MGM Resorts International (NYSE: MGM) subsidiary, BetMGM announced on October 4th, an exclusive market access partnership with the Puyallup Tribe of Indians to operate retail sports betting at the Emerald Queen Casino (EQC) in Washington state. "Today's announcement marks another key moment in the expansion of BetMGM as we extend our western footprint into Washington," said BetMGM CEO Adam Greenblatt. "The Puyallup Tribe and Emerald Queen Casino are ideal partners for us as they represent the same high-level of service, amenities and experiences that is built into our DNA at BetMGM.
Bally's Corporation (NYSE: BALY) and Sportradar announced earlier this summer a five-year sports betting partnership. Under the terms of the deal, Sportradar will provide Bally's Interactive with access to its complete pre-match betting services, live betting services, and content solutions portfolio. Bally's Interactive will incorporate that data portfolio as part of its ambitious expansion plans to become a leader in the North American sports betting markets. "Sportradar is proud to be working with Bally's Interactive," said Neale Deeley, Managing Director, US Betting, Sportradar. "Given their vision and commitment to innovation, we are confident that Bally's Interactive will continue to expand and deliver an engaging, dynamic sports betting experience to their customers."
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.