Sports Betting Industry is Successfully Adapting to a More Friendly Market

FinancialBuzz.com News Commentary

NEW YORK, Nov. 9, 2021 /PRNewswire/ -- 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. As the result, investors from countries where sports betting is already a mature industry are getting more interested in the future prospects the U.S. has to offer. Last year, the Betfred Group, founded by UK brothers Fred and Peter Done, set up 10 companies in Nevada to operate in states including Louisiana, Ohio and South Dakota, where lawmakers took steps this year to permit sports betting, according to registry filings, Bloomberg reported. FansUnite Entertainment Inc. (OTC: FUNFF) (CSE: FANS), Boyd Gaming Corporation (NYSE: BYD), International Game Technology PLC (NYSE: IGT), Churchill Downs Incorporated (NASDAQ: CHDN), Penn National Gaming, Inc. (NASDAQ: PENN)

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) just announced breaking news that, "its Brazilian esports wagering platform, VamosGG, achieved record registrations and betting activity during the recently completed PGL Major, the world's largest CS:GO championship.

In collaboration with FansUnite partner IMG, VamosGG secured the Exclusive Gaming Partner rights for the Brazilian broadcast of the PGL Major and served as the exclusive broadcast sponsor of the country's most popular streamer Gaules and the Gaules.tv community.

The tournament broadcast set multiple records, including:

• 2.15 million peak viewers in Brazil on Gaules.tv during the opening rounds
• 800,843 unique spectators with 310,994 concurrent viewers at the high point during the championship match
• Most watched GS:GO event in history

Throughout the tournament, VamosGG offered pre-match and in-play wagers, which resulted in the following milestones:

• 6,500+ new players registered
• More than 3,000 concurrent users at its peak
• 100,000+ user sessions
• 4,000 new social media followers

'We are pleased to have received such an overwhelming response from the esports and betting community in Brazil,' said Scott Burton, CEO of FansUnite. 'It was a great way to launch the brand and proved the value of influencer marketing in the esports arena. The fanbase's adoption of the VamosGG betting platform during this PGL Major validated FansUnite's expansion strategy. We will continue to increase our presence in Brazil as we simultaneously continue to identify new markets where our ability to launch and localize sites will be rewarded. FansUnite is in a unique position to do this as we own the technology, hold multiple gaming licenses and have the infrastructure in place to replicate the success of VamosGG.'"

Building on Brazil's response to the PGL Major, FansUnite is pleased to announce the launch of the VamosGG Cup. The tournament will be another opportunity to demonstrate the strength of the VamosGG brand, drive more customer registrations, increase FansUnite's local betting offerings and showcase the breadth of the Company's platform to partners. Full details of the VamosGG cup and future campaigns will be revealed in the near future."

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

Boyd Gaming Corporation (NYSE: BYD) and FanDuel Group announced earlier this year 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."

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."

Churchill Downs Incorporated (NASDAQ: CHDN) announced last month plans to open a new historical racing machine ("HRM") entertainment venue, Derby City Gaming Downtown, in Louisville, Kentucky. The 43,000-square-foot entertainment venue will be located at 140 South 4th Street, at the corner of South 4th and West Market, diagonal to the Kentucky International Convention Center. "CDI is committed to investing in the city of Louisville and today we are particularly excited to announce this new downtown entertainment venue," said Bill Carstanjen, CEO of CDI. "Our HRM expansion will be a win for the entire community in the Louisville area and will create $10 to $12 million per year in additional purse money for Churchill Downs Racetrack. It is important that Louisville is a city that is thriving — a great place to live, work and visit and we are committed to helping create economic vibrancy for every area of our community. The West End Opportunity Partnership and our collaboration with OneWest can help us responsibly and sustainably achieve that vision."

Penn National Gaming, Inc. (NASDAQ: PENN) and Score Media and Gaming, Inc. announced on August 5th, that they have entered into a definitive agreement whereby Penn National will acquire theScore, a leading digital media and sports betting and technology company, for approximately US$2.0 billion in cash and stock.  Jay Snowden, President and Chief Executive Officer of Penn National, commented, "We are thrilled to be acquiring theScore, which is the number one sports app in Canada and the third most popular sports app in all of North America. theScore's unique media platform and modern, state-of-the art technology is a powerful complement to the reach of Barstool Sports and its popular personalities and content."

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