Online Wagering Capabilities Continue to Expand Nationwide

FinancialBuzz.com News Commentary

NEW YORK, May 11, 2021 /PRNewswire/ -- As the legal system slowly becomes more friendly towards online sports betting, states around the country begin to look towards the young and growing industry to raise tax revenue. Recently, the advancement of sports betting in Illinois took place, vastly expanding the mobile wagering options available to the state's 12.7 million residents. Furthermore, data from Odds.com published by Forbes showed that Illinois is poised to generate upwards of USD 73 Million in taxable revenue if the estimates of a USD 488 Million annual market come to fruition. The 15% tax levied on gaming revenue could also see this number rapidly increase once measures to allow online and mobile offerings are put in place. FansUnite Entertainment Inc. (OTC: FUNFF) (CSE: FANS), Boyd Gaming Corporation (NYSE: BYD), Wynn Resorts, Limited (NASDAQ: WYNN), Penn National Gaming, Inc. (NASDAQ: PENN), Scientific Games Corporation (NASDAQ: SGMS)  

The increasing popularity of online gambling is attributed to several factors, such as advancements in the field of digital marketing, wider availability of modern technology as well as easy-to-use systems. In recent years, the global online gaming market has expanded to represent one of the fastest growing segments of the gambling industry. As a result, several important developments related to this field were implemented. For example, late last year, the first college sports deal with a gambling company outside of Nevada was implemented. 

FansUnite Entertainment Inc. (OTCQB: FUNFF) (CSE: FANS) announced breaking news yesterday that, "it has fully integrated CoinsPaid ("CoinsPaid"), a leading provider of cryptocurrency exchange and payment solutions, into the Company's B2B online gambling solutions.

CoinsPaid will enable FansUnite's B2B wagering platforms to process cryptocurrency payments, which provides online bettors with the ability to utilize other virtual currencies in addition to cash. B2B partners that license FansUnite's technology are now equipped with crypto deposit solutions for Bitcoin, Dogecoin, Ethereum, Litecoin, Bitcoin Cash and Tether. As a result, FanUnite's online betting solutions can be monetized via alternative payment methods, increasing the convenience for online gamblers to place bets.

'The integration of CoinsPaid allows us to offer payment solutions for our B2B partners who can now capitalize on the increasing popularity of cryptocurrencies,' said Scott Burton, CEO of FansUnite. 'As more companies begin to recognize the importance and utility of decentralized money, we are delighted to join a growing ecosystem where customers can make purchases with virtual currencies.'

About FansUnite Entertainment Inc. - FansUnite is a sports and entertainment company, focusing on technology related to regulated and lawful online gaming and other related products. The principal business is operating the FansUnite Sportsbook and the website of its wholly owned subsidiary, McBookie Limited, offering online gaming services to the UK market. FansUnite is also a provider of technology solutions, products and services in the gaming and entertainment industry and looks to acquire technology platforms and assets with high-growth potential in new or developing markets."

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=s8366HZ2-R0

Boyd Gaming Corporation (NYSE: BYD) and FanDuel Group announced on March 8th, plans to launch Stardust-branded online casinos in New Jersey and Pennsylvania, marking the iconic gaming brand's return to real-money gaming. Keith Smith, President and Chief Executive Officer of Boyd Gaming, said: "For nearly 50 years, the Stardust was one of the most famous casinos on the Las Vegas Strip. And while the resort has been gone for more than a decade, the Stardust brand is still as well-known and popular as ever. We are excited to work with our partners at FanDuel to launch our first real-money online casinos and are confident this legendary brand will give us a significant advantage in connecting with players looking for a distinctive online gaming experience."

Wynn Resorts, Limited (NASDAQ: WYNN) through their subsidiary WynnBET, the premier casino and sports betting app from the global leader in luxury hospitality, Wynn Resorts, announced recently that it has been issued a permit for the operation of online sports betting in the Commonwealth of Virginia. The WynnBET mobile app will soon be made available to sports betting enthusiasts for registration and use throughout the state. This marks the tenth state to be added to the growing list of jurisdictions where WynnBET plans to launch.

Penn National Gaming, Inc. (NASDAQ: PENN) announced earlier this year that the Michigan Gaming Control Board ("MGCB") has approved the Company's applications to offer online sports wagering and iCasino products in Michigan. Penn National intends to officially launch its Barstool Sportsbook mobile app on iOS and android, as well as desktop at 12:00pm EST on Friday, January 22nd, 2021 and its iCasino products will follow shortly thereafter, subject to final regulatory approvals. This follows the opening of the Company's retail Barstool Sportsbook at Greektown Casino Hotel in downtown Detroit on December 23rd, 2020. "This is an exciting time to be launching our online Barstool Sportsbook in Michigan," said Jay Snowden, President and CEO of Penn National. "We have been incredibly pleased with the success of the mobile app since launching in Pennsylvania in September. Our customers have thoroughly enjoyed engaging with Dave Portnoy, Dan 'Big Cat' Katz and other Barstool fan favorites, and we expect more of the same in Michigan. As the only gaming operator with a fully integrated sports media and entertainment partner, Penn can provide our customers the opportunity to interact with Barstool personalities online and also in-person at our new Barstool Sportsbook at Greektown."

Scientific Games Corporation (NASDAQ: SGMS) announced last year that it is partnering with Genius Sports Group, a leading provider of sportsbook management solutions, to provide in-game content to its wagering customers worldwide, excluding U.S. leagues. Sportsbooks operating on Scientific Games' OpenSportsTM platform will gain access to Genius Sports Group' LiveData and LiveTrading services, trusted by over 150 of the world's largest wagering brands and fully customizable for every customer. Genius Sports Group and its sports betting division, Betgenius, created the market for official data across all tiers of sports and today offer partners access to official data for over 170,000 events each year.

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