Single-Event Sports Betting Bill Could Make Way for More Global Markets

FN Media Group Presents Microsmallcap.com Market Commentary

NEW YORK, Feb. 26, 2021 /PRNewswire/ -- Sports fans across the nation in Canada rang out with joy at the announcement of the House of Commons passing of Bill C-218, potentially putting an end to a decades-long prohibition on single-event sports betting. With just a few more hurdles left in the way before moving to the senate and then the Governor-General for Royal Assent, should the bill pass, it will allow provinces and territories to each be given responsibility of regulating single-event sports gambling. The addition of Canada only helps to bolster the North American sports betting market, in which Morgan Stanley predicts the US market will generate $7 billion in revenue by 2025. Many gaming developers stand to benefit from the expansion, including Bragg Gaming Group (TSX:BRAG) (OTCQX:BRGGF), Elvs Game Technology Corp. (NASDAQ:ELYS), Caesars Entertainment (NASDAQ:CZR), Melco Resorts & Entertainment (NASDAQ:MLCO), and Golden Nugget Gaming (NASDAQ:GNOG).

"We're very pleased with the successful outcome of the [303-15] vote," said Paul Godfrey, Bragg Gaming Board Member. "The overwhelming backing for the Bill is a strong indication of Canadians' overall support of the move to legalize single-event betting, and a very positive step for both the legal gambling market in Canada and the overall economy. Not only will this Bill ensure that profits from sports wagering go back into Canadian communities, rather than illegal black-market channels, but it will also secure Canadian jobs and create a safer, more regulated environment for Canadians."

As it gears up for the potential breakthroughs in Canada, Bragg is coming off of a series of wins in the sports betting arena in markets around the world, including the previous announcement of its subsidiary ORYX Hub platform's launch of Remote Gaming Server (RGS) services for European sports betting and casino operator Betway.

"Our RGS content has already been proven strong in Germany and beyond, and this partnership will further strengthen the reach and reputation for both our companies," said Managing Director of ORYX Gaming, Matevz Mazij. "We're delighted to see our partnership with Betway go live and our titles are going to offer a new dimension of content to their player."

Bragg Gaming had also struck a deal to enter the Netherlands prior to the Betway agreement, this time with Dutch land-based operators JVH Gaming & Entertainment Group. As per the deal, it also included an integration with leading global sports betting provider Kambi Group.

All in all, Bragg has been on a roll over the last 12 months, and seeing legalization on the horizon in its home country of Canada is altogether a sweet experience for the company that's already seen exceptional revenue growth of 72% from Q3 2020, and its graduation to the country's most prominent board, the Toronto Stock Exchange.

South of the Canadian/US border, Elvs Game Technology Corp. (NASDAQ:ELYS) (FRA: 3UW) recently announced an expansion in its partnership with Sportradar to provide Live US sports data on its betting platform.

"We believe that Sportradar's cutting edge technology, superior data and analytics will enable us to execute our vision of building a premier, end-to-end sports betting solution for European and North American gaming operators," said Matteo Monteverdi, CEO and President of Elys Game Technology.

Back in January, Caesars Entertainment (NASDAQ:CZR) announced its investment in SuperDraft, which operates across seven professional sports in more than 35 states, for daily fantasy sports playing.

"The addition of daily fantasy sports fits seamlessly with our strategic vision for mobile and online sports," said Caesars Entertainment CEO, Tom Reeg. "SuperDraft's innovative multiplier game mode is unique in the marketplace, and we believe it offers a tremendous opportunity to strengthen our position in the sports gaming landscape."

The move towards iGaming has been crucial for the industry over the past year. Traditional brick-and-mortar-based casino companies like Melco Resorts & Entertainment (NASDAQ:MLCO) were especially hit hard in 2020. However, as casinos reopen around the world, Melco has the most to gain in Macau. The company is controlled by Lawrence Ho, a son of Macau's gambling magnate Stanley Ho. Macau's sports betting scene is vastly different from what we see in North America. Especially given that not a single casino in Macau actually offers a sportsbook to draw in customers. Instead, they're all relegated to dedicated betting shops, all of which are owned by Stanley Ho's Macau Slot. So the connection is there, should Ho the younger want to take his casino company down that road. For now, online sportsbooks are doing massive business in Macau; however, the region's gambling laws still forbid their citizens from using these online sites. Seeing a shift in a country like Canada could have an impact on Macau down the road.

One famous gaming brand that's known for its online presence is Golden Nugget Gaming (NASDAQ:GNOG). Despite some difficulty on the market after it completed its reverse merger with Landcadia Holdings, Golden Nugget is undeterred, having recently entered a definitive agreement with Tioga Downs Race Track for future online gaming market access in the state of New York, subject to legislation, regulatory approval, license eligibility, and availability.

As Canada begins to take steps to opening up its sports betting market, companies like Bragg Gaming Group (TSX:BRAG) (OTCQX:BRGGF) are in a good position to become first-movers in what could become a newly invigorated marketplace.

Disclaimer: Microsmallcap.com (MSC) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM) is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with MSC or any company mentioned herein. The commentary, views and opinions expressed in this release by MSC are solely those of MSC and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable MSC and FNM for any investment decisions by their readers or subscribers. MSC and FNM and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.

The Article and content related to the profiled company represent the personal and subjective views of the Author (MSC), and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author (MSC) has not independently verified or otherwise investigated all such information. None of the Author, MSC, FNM, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer's filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer's securities, including, but not limited to, the complete loss of your investment. FNM was not compensated by any public company mentioned herein to disseminate this press release but was compensated twenty five hundred dollars by MSC, a non-affiliated third party to distribute this release on behalf of Bragg Gaming Group

FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MSC and FNM undertake no obligation to update such statements.

Media Contact: 
FN Media Group, LLC 
info@financialnewsmedia.com 
+1(561)325-8757