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Canada

Gradual Re-Introduction of Professional Sports is a Boon for the Betting Industry

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Casinos and gambling have been large markets for many years, but sports betting has a been a slow growing segment; until recently. The slow growth of sports betting in years past is, in large part, attributable to numerous legal restrictions across most states as well as a lack of access due to insufficient technological infrastructure. Now, the sports betting market is changing and growing rapidly. For example, after an agreement between Caesars Entertainment and Disney-owned ESPN, which made Caesars, through its sports betting partner, William Hill, a co-exclusive partner for gambling link-outs from ESPN, Caesars Entertainment CEO Tom Reeg expressed a positive outlook for the market. “We think there’s a lot of money to be made here over time, and we’re seeing a lot of interest from non-gaming operators… We have not seen a growth opportunity in this space in quite some time, so it’s an adjustment for analysts to look at a hyper-growth piece of a business that has been mature… We’re in the very early stages of legalization of sports betting,” Tom Reeg explained according to CNBC. FansUnite Entertainment Inc., Caesars Entertainment, Inc., MGM Resorts International, Wynn Resorts, Limited, DraftKings Inc.

As the legal system slowly becomes more friendly towards online sports betting, states around the country 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 and 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 see this number rapidly increase once measures to allow online and mobile offerings are put in place.

FansUnite Entertainment Inc. announced earlier last week that, “McBookie Ltd (“McBookie”) has continued its impressive performance since becoming part of FansUnite.

The Scottish based operator increased its overall year-over-year (“YOY”) turnover for the months of July and August by 108% – from $3M CAD to $6.3M CAD, with 78% of the turnover growth led by the return of sport.

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The increase resulted in a YOY increase in Gross Gaming Revenue over the same period of 412%, resulting in gross gaming revenue of $371K for July and August 2020 and a gross margin of $161K. During the same period last year the platform generated $72K in gross gaming revenue resulting in a gross margin loss of $66K.

With the strong results over the last two months, McBookie is preparing to continue the positive trend with the return of the English Premier League and the other major European leagues in the coming weeks.

‘We are very pleased that McBookie has been able to continue its strong 2020 performance despite the slowdown in sports betting from the global pandemic,’ said Scott Burton, CEO of FansUnite. ‘The figures for the past 60 days have been exceptional and continue to validate our belief in this leading B2C betting brand and the management team behind it. For the duration of 2020, major European leagues are set to begin again and present a great opportunity for McBookie to capture the attention of new and existing customers. We will work directly with McBookie in ensuring their presence in the U.K. expands and they are in a position to service this growing user base of bettors.’

‘The team at FansUnite has worked very hard to improve all aspects of our business since joining FansUnite and it is great to see that replicated in the numbers,’ said Paul Petrie, founder and Director of McBookie. ‘With just one month to wait until the whole of Scottish football is back, having the resources and expertise of FansUnite helps puts us in an excellent position to continue building on our recent success.’

While the return of sport has provided an uptick in betting volume, casino turnover during the two-month period was strong as well with $3.1M wagered. McBookie will be looking to build on these numbers with the recent launch of a Live Casino product earlier this month.

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‘After launching a successful Virtual Sports betting offering in March, we decided to expand our platform with the addition of a Live Casino,’ continued Paul Petrie. ‘It represents another betting alternative for our loyal customers and helps us diversify our revenue stream.’”

SOURCE FinancialBuzz.com

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Canada

Casino Time Elevates Social Gaming in Ontario with Launch of iGaming Website

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Casino Time, a full-service online casino for Ontario residents, proudly announces the highly anticipated launch of its iGaming website, CasinoTime.ca. Affiliated with 10 Charitable Gaming entertainment venues across the province, Casino Time extends its legacy fundraising model and beloved social gaming experience to the digital realm.

At the time of launch, Casino Time features a premium selection of games in each of its core product verticals including Slots, Live Dealer Casino Games, and Bingo. Adding to its diverse portfolio, Casino Time is also set to introduce a Sportsbook in late 2024. With a robust suite of features including interactive chat, local customer service, 24/7 accessibility, loyalty rewards, and rapid payment solutions, the online platform provides a powerful casino experience that is community-oriented.

Casino Time is committed to meeting the expectations of players who value the superior gaming experience associated with its charitable gaming affiliates. The iGaming website harnesses industry-leading technology from Gaming Innovation Group (GiG) to deliver an intuitive user experience and offers progressive jackpots and full-service game offerings from Pragmatic Play, Evolution, IGT, and Blueprint Gaming, including mega hits like Lightning Roulette, Gonzo’s Quest, and Cleopatra.

Pragmatic Play will also be the driving force behind Casino Time’s Bingo offering, handpicked by the operator for its best-in-class user experience, comprehensive promotional suite, live chat functionality, and exclusive play-on-demand feature. Casino Time is the first Canadian iGaming operator to offer regulated access to the globally renowned bingo product, Bingo Blast, cherished by players everywhere.

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“We have been leading the revival of community gaming in Ontario for 20 years with cutting-edge gambling entertainment at the local level. Now through an exclusive partnership with iGO, we’re bringing our offerings online across Ontario, providing more access to the social gaming revolution that has won us a legion of fans,” says D’Arcy Stuart, CEO of Casino Time.

Rooted in legacy, Casino Time’s team is dedicated to delivering an unparalleled online and offline gaming experience with over 50 years of serving the gambling community in Ontario. Committed to VIP loyalty, high-touch customer care, responsible gaming practices, and safety and security, Casino Time provides community and peace of mind to its players.

“In our physical locations, our gambling product is, of course, second to none, but the special sauce is the social experience, which we’re replicating with the iGaming platform,” adds George Prue, General Manager of Jackpot Time Sarnia. “We know our customers personally and we love being part of their recreation and banter. Plus, proceeds get invested straight back into the community. That’s a gambling model we can proudly stand behind.”

Casino Time is not merely an online entity; it is an extension of the vibrant Ontario gambling community. Casino Time’s iGaming website goes beyond the ordinary, fostering a community-oriented gaming experience that is both social and inclusive.

 

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Alcohol and Gaming Commission of Ontario (AGCO)

Soft2Bet strengthens integrity monitoring with IBIA membership in Ontario

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Soft2Bet, a leading casino and sportsbook platform provider, has joined the International Betting Integrity Association (IBIA) and activated its membership in Ontario, Canada, following its licensing in the Canadian province.

Soft2bet obtained its Certificate of Registration from the Alcohol and Gaming Commission of Ontario (AGCO) at the end of March, where the company’s Ontario-focused brand Tooniebet.com will now feed into IBIA’s world-leading sports betting integrity monitoring platform before worldwide implementation in the coming months.

IBIA includes over 50 of the world’s leading sports betting and gaming companies, who operate over 125 sports betting brands. Soft2Bet’s decision to join the association further strengthens its own internal betting integrity protocols and IBIA’s position as the world’s leading sports betting integrity monitoring body.

David Yatom Hay, General Counsel at Soft2Bet, commented: “Soft2Bet is delighted to be joining the IBIA as we strengthen our own betting integrity monitoring processes and play our part in furthering the IBIA’s long-standing work on this key issue. Ontario is a world class iGaming jurisdiction; it will be the first market where we will implement our IBIA membership and we look forward to deploying the monitoring infrastructure worldwide in all the other markets in which we operate.

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Khalid Ali, CEO of IBIA, said: “Soft2Bet is a very welcome addition to IBIA, further strengthening our position in the Ontario market. The operator’s decision to join IBIA demonstrates its desire to utilise the best integrity protection available for its sportsbook product. The association is delighted to be able to integrate Tooniebet within our integrity monitoring system and looks forward to working closely with Soft2Bet to maintain the high integrity of its sportsbook.”

IBIA is a not-for-profit body that has no competing conflicts with the delivery of commercial services to other sectors and is run by operators and for operators to protect regulated sports betting markets from match-fixing. IBIA’s global monitoring network is a highly effective anti-corruption tool, detecting and reporting suspicious activity in regulated betting markets.

Through the IBIA monitoring network it is possible to track transactional activities linked to individual customer accounts. IBIA members generate more than $300bn in annual betting turnover (handle), accounting for approximately 50% of the global commercial regulated land-based and online sports betting sector, and in excess of 50% for online alone.

IBIA recently released a report on the Availability of Sports Betting Products which highlighted Ontario as a leading regulated gambling jurisdiction, with an expected onshore channelisation for sports betting of 92% in 2024 forecast to rise to 97% in2028. IBIA currently represents over 60% of the private sports betting operators licensed in the province. All online sportsbetting operators licensed in Ontario are required to be part of a betting integrity monitoring body.

IBIA’s Q1 2024 report detailed 56 alerts during the quarter. IBIA alerts contributed to the investigations and subsequent successful sanctioning of 21 clubs, players and officials in 2023, an increase on the 15 sanctioned in 2022.

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British Columbia Lottery Corporation

SCCG Management Signs Contract with British Columbia Lottery Corporation

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SCCG Management has signed a contract with the British Columbia Lottery Corporation (BCLC), the B.C. Crown corporation which conducts and manages commercial gambling in the province, including lotteries, casinos, and online gaming. This partnership aims to undertake a comprehensive assessment and strategic enhancement of BCLC’s diverse operations.

The work between SCCG and BCLC will involve a thorough review of technological infrastructures, strategic market positioning, and the integration of various gaming modalities. SCCG’s extensive expertise will be pivotal in harmonizing BCLC’s online and physical gaming experiences.

Stephen Crystal, Founder and CEO of SCCG Management, said: “Our collaboration with BCLC represents a remarkable opportunity to push the boundaries of innovation within the gaming industry. We are committed to deploying our resources and expertise to enhance BCLC’s operational efficiencies and customer engagement strategies. It’s an honor to partner with an organization that has a robust impact on the community through its support of public initiatives.”

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