Canada
Support for Sport Betting Infrastructure Continues to Grow in North America
As the legal infrastructure becomes more friendly towards sports betting, specifically in the online space, many companies in the gambling industry are investing in offering more sports betting options. According to a report by the Associated Press, companies like DraftKings are making serious strides in developing easy to use systems available to the public through partnerships with sports leagues. For example, The National Basketball Association and DraftKings had announced a multiyear partnership that will make DraftKings an authorized sports betting operator of the league. In addition, it was reported that BetIndiana and Sportradar, the provider of sports data and content, inked a partnership to bring Sportradar’s real-time sports data and managed trading services to BetIndiana’s mobile sportsbook. These moves did not go unnoticed by investors, as investment firm Morgan Stanley projected back in 2019 that the U.S. market will reach about USD 7 Billion in revenue by 2025, up from USD 833 Million that year. FansUnite Entertainment Inc. (CSE: FANS), Eldorado Resorts, Inc. (NASDAQ: ERI), Scientific Games Corporation (NASDAQ: SGMS), DraftKings Inc. (NASDAQ: DKNG), Wynn Resorts, Limited (NASDAQ: WYNN)
Of course, sports betting legalization in the United States is a complex issue. It started with New Jersey, which was the first state to make sports betting legal back in 2018. In total, sports betting is legal in some form in 24 states, according to date provided by ESPN. The big prize is, as usual, California, where sports betting in not officially legal yet. Nevertheless, despite the legal challenges, interest in the industry is high. According to a report by MarketWatch, many have invested money into a new exchange-traded fund that tracks the sports betting and online gambling industries. This represents a “remarkable vote of confidence for a fund that’s only a few days old,” said Dave Nadig, a longtime industry veteran now at ETF Database. “I am a fan of this fund. If you believe online sports betting is the next big thing, this fund will capture everything from back-office infrastructure to front-facing retail plays.”
FansUnite Entertainment Inc. (CSE: FANS) just announced breaking news that it is, “pleased to introduce Mr. Harish Narayanan Ramachandran, an experienced gaming executive as a member of the board.
Most recently, Harish spent 4 years at PaddyPower Betfair, one of the world’s largest gaming companies1, as president of their Asia business. He was tasked with expanding their global operations through B2B partnerships with regulated and state owned operators in Asia, establishing government relationships, and attracting licensed B2C operators. As a specialist in strategic M&A, he structured, advised, and facilitated the global strategy and direction on numerous M&A transactions in the online gaming market.
Prior to this, Harish held senior management positions at EdgeMatrix in Singapore, Com2us Corporation in South Korea, Nokia in APAC, Cryptologic in Asia-Pacific and Paddy Power Betfair in Dublin, Ireland.
‘Mr. Ramachandran brings a wealth of experience to our board of directors having assisted one of the worlds largest betting operations enter and scale their international expansion in Asia,’ said Darius Eghdami, Chairman and CEO of FansUnite Entertainment. ‘As we look to enter new markets, Mr. Ramachandran brings decades of experience in global market expansion along with extensive knowledge leading strategic mergers and acquisitions that our team will utilize as we prepare for our international growth strategy.’
‘As a member of the board, It’s an honour to be advising the innovative team where my experience within the global gaming market can be utilized to support FansUnite,’ said Harish. ‘FansUnite has developed strong betting technology and is quickly gaining global recognition through their recent successful M&A transaction with McBookie. I look forward to providing my knowledge and expertise to assist in the growth of FansUnite.’
Harish will advise the company in various matters, including: international mergers and acquisitions strategy, government relations, and establishing and executing on new market expansion and partnership opportunities.”
Eldorado Resorts, Inc. (NASDAQ: ERI) announced last year that it had completed its previously announced transaction with William Hill PLC (LON: WMH) whereby William Hill US will serve as Eldorado’s sports betting operator for a period of 25 years at its properties in jurisdictions where sports betting is legal. Pursuant to the terms of the agreement, Eldorado received a 20% equity stake in William Hill US as well as 13.4 million ordinary shares of William Hill PLC (LON: WMH). Eldorado also secured the right to monetize its equity in William Hill US in the event William Hill US completes a public offering or through a conversion of the 20% equity stake to William Hill PLC shares or cash at William Hill’s discretion after five years. Eldorado Resorts’ Chief Executive Officer, Tom Reeg, commented, “Extending our long-term relationship with William Hill partners Eldorado with the world’s leading provider of in-casino, mobile and online sports wagering to launch sports wagering across our current platform of 26 properties at such time as legislation is enacted and regulatory approvals are obtained. Based on our long-term experience in Reno, we believe that the addition of sports wagering to our entertainment offerings will drive customer visitation and create a new revenue stream at our properties while enhancing our existing gaming and non-gaming revenue.
Scientific Games Corporation (NASDAQ: SGMS) announced earlier in March that it had partnered with Vaix.ai to offer sports bettors personalized recommendations and tailored betting choices through the OpenMarket product suite. Vaix.ai will offer an Artificial Intelligence (AI) model through OpenSports that enhances the sports betting experience. By providing sports, league, team, event, and market recommendations to bettors in real-time, the companies aim to further personalize sports betting through Scientific Games’ OpenMarket solution. OpenMarket is the industry’s first one-stop content marketplace, giving Scientific Games’ partners access to top-tier sports betting intelligence, data feeds and tools without the need for complex integrations and financial agreements.
DraftKings Inc. (NASDAQ: DKNG) is a digital sports entertainment and gaming company created to fuel the competitive spirits of sports fans with products that range across daily fantasy, regulated gaming and digital media. The Company announced this month that it is partnering with Bay Mills Resort & Casino to enter into a new market access deal, subject to the receipt of all applicable licenses and approvals, that will bring the number one-rated mobile sportsbook to sports fans across the state of Michigan. The DraftKings Sportsbook mobile app is currently available in Colorado, Indiana, Iowa, New Jersey, New Hampshire, Pennsylvania and West Virginia. “Through a commitment to provide customers with a premier sports betting experience, DraftKings is happy to partner with Bay Mills Resort & Casino,” said Ezra Kucharz, DraftKings’ Chief Business Officer. “The Great Lakes State presents a number of gaming opportunities and we look forward to collaborating with Bay Mills to provide residents with the best-in-class experience DraftKings is known for.”
Wynn Resorts, Limited (NASDAQ: WYNN) designs, develops, and operates integrated resorts. The company’s Wynn Palace segment operates 424,000 sq. ft. of casino space with 323 table games, 1,011 slot machines, private gaming salons, and sky casinos. In recent years the Company also partnered with sports betting operators. For example, earlier in 2018, Wynn announced that it has entered into a strategic partnership with BetBull Limited (“BetBull”), a Europe-based digital sports betting operator, to pursue sports betting opportunities in the emerging U.S. market. The strategic partnership will position both parties to capitalize on the developing U.S. opportunity by combining Wynn Resort’s nationally recognized brand with BetBull’s digital sports betting operations capabilities and technology. In conjunction with the formation of the strategic partnership, Wynn Resorts will make a minority equity investment in BetBull. Wynn Resorts will own 22.5% of BetBull on a fully-diluted basis upon closing of the investment which will occur in due course subject to customary closing conditions. Moelis & Company LLC acted as financial advisor to Wynn Resorts.
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GeoLocs by mkodo, proven and trusted provider of geolocation services built exclusively for the iGaming industry, is excited to announce its partnership with casino operator, Casino Time. This collaboration marks a significant milestone in delivering secure and seamless online gaming experiences to Casino Time players in Ontario.
With the legalisation of iGaming in Ontario 2 years ago, regulatory compliance and player safety are top priorities for operators across North America. GeoLocs state-of-the-art geolocation compliance technology, coupled with its dedication to data protection (as seen by the recent ISO certification), provide Casino Time with guaranteed compliance while prioritising player privacy.
Through GeoLocs’ intuitive and easy-to-implement SDK and the highly self-serviceable GeoLocs platform, Casino Time provides its players with a seamless user experience, requiring no additional downloads, resulting in uninterrupted access to their favourite games while maintaining compliance with Ontario’s iGaming regulations.
Jeffrey Holmes, COO at Casino Time said: “Casino Time’s mission is to create the best possible gaming experience for its users and partnering with GeoLocs for our geolocation verification service means that we can provide our players with an online casino experience like no other. An experience that is secure and seamless, whilst also remaining compliant with regulations set out by the province of Ontario. The support provided by the team at GeoLocs has been incredible and their knowledge of geolocation and the Ontario market is second to none. With GeoLocs, we can ensure that our operations meet regulatory requirements while delivering a frictionless experience for our players.”
Stuart Godfree, Managing Director at mkodo, said: “We are excited to partner with Casino Time to support their expansion into the Ontario iGaming market. GeoLocs is designed to prioritise data protection and regulatory compliance while delivering a seamless experience for both operators and players. With GeoLocs technology, Casino Time can operate with confidence, knowing that they are meeting regulatory standards and providing their players with a safe and secure gaming environment.”
The partnership between GeoLocs and Casino Time demonstrates a shared commitment to excellence, compliance, and player experience in the iGaming industry. By leveraging GeoLocs’ advanced geolocation technology, Casino Time aims to enhance its position as a leading provider of online gaming experiences in Ontario.
Canada
Great Canadian Entertainment and Petroglyph Development Group Announce Historic Transaction of Casino Nanaimo
Great Canadian Entertainment, Canada’s leading gaming and hospitality company, announced that it has signed a definitive agreement to sell its landmark Vancouver Island property, Casino Nanaimo, to Petroglyph Development Group Ltd (Petroglyph) in a historic transaction for both parties. Petroglyph is a wholly owned corporation of the Snuneymuxw First Nation dedicated to realizing the economic potential of the Nation.
Great Canadian’s Board of Directors unanimously approved the transaction, which remains subject to customary closing conditions as well as customary approvals by the regulatory authorities. Under the terms of the definitive agreement, the Company will provide transition services to Petroglyph for up to two years post-closing.
“We are very pleased to have executed this agreement. As the operator of Casino Nanaimo since its inception in 1986, we believe that under Petroglyph’s steady management, this transaction will provide Casino Nanaimo, its guests and team members with an exciting new chapter. We look forward to the closing and then working with the Petroglyph team during the transition period to ensure an outstanding outcome for all parties,” said Matt Anfinson, Chief Executive Officer of the Company.
“We celebrate our partnership with Great Canadian and our entry into B.C.’s casino industry. We are committed to bringing Snuneymuxw’s local expertise to an established tradition of outstanding guest service and meaningful community contributions. Honouring the decades of work by past Snuneymuxw Chiefs and Councils, we look forward to closing the definitive agreement and realizing our collective vision with the Great Canadian team. This collaboration promises to bring significant benefits and substantial economic growth to our Nation and the local community,” said Snuneymuxw Chief Mike Wyse.
Erralyn Joseph, President of Petroglyph Development Group (PDG), said: “The Snuneymuxw group of companies are profoundly honoured to support Snuneymuxw economic growth in significant and meaningful ways. In addition to our pending acquisition of the business, we are honoured to announce the return of the associated land once closing is completed, a part of the Snuneymuxw xwsol’lexwel village. On behalf of the Board of Directors, we are pleased to share this news and remain committed to advancing the region’s economic growth in support of all its residents.”
Ian Simpson, Chief Executive Officer of PDG, said: “Acquiring this significant asset will unlock unprecedented economic potential for Snuneymuxw and PDG, paving the way for transformative growth in Snuneymuxw’s economy and the profits that PDG returns to our Nation.”
McMillan is serving as legal counsel to Great Canadian. McCarthy Tétrault is acting as legal counsel and KPMG Corporate Finance Inc. is acting as financial advisor to Petroglyph.
Canada
Canada set to host the next BLAST R6 Major with world’s best Rainbow Six esports players to compete in Montreal in November
World’s best Rainbow Six Siege esports teams from 9 regions will compete in Montreal, Canada. $750,000 in total prize pool up for grabs at final Major of 2024.
Today, Ubisoft and BLAST have released details for the final BLAST Rainbow Six Major of Season 2024, which is due to take place in Montreal, Canada from 7 to 17 of November.
Rainbow Six Esports is back in Canada for the first time since 2023, with Montreal’s Verdun Auditorium set to welcome 20 of the world’s best teams over two weeks in November. The BLAST R6 Major Montreal will feature a three-phase format with the final weekend playing out in front of a live audience with thousands of fans expected to pack out the Verdun Arena.
Tickets are available here: eventim.ca
Dates & location:
- Phase 1: 7 – 8 November – not open to public
- Phase 2: 10 – 13 November – not open to public
- Phase 3: 15 – 17 November – open to the public at the Verdun Auditorium, Montreal
Venue: Verdun Auditorium
Address: 4110 Bd LaSalle, Verdun, QC H4G 2A5, Canada
With Stage 2 of the Regional Leagues is set to get underway from September, teams across the nine different regions of BLAST R6 will be looking to become one of the 20 teams to qualify for the Montreal Major. These teams will compete for the lion’s share of the USD $750,000 prize pool, as well as points to qualify for the Six Invitational 2025.
Montreal and Rainbow Six have a long history together since the teams behind the development of Rainbow Six Siege are based in Ubisoft offices in Montreal. The city had previously hosted international Rainbow Six Esports tournaments such as the 2018, 2019, 2020, and 2023 editions of Rainbow Six’s SIX Invitational where Brazilian team w7m had been crowned World Champions.
Additional details on the venue, ticketing, and more are available via Eventim here: eventim.ca
For more information about BLAST R6, please visit rainbow6.com and follow us on social media.
Week 26/2024 slot games releases
Rolling in for Rank! Hacksaw Gaming and Rank UK Join Forces for an Exciting Future
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Bragg Gaming Expands in Pennsylvania with BetMGM
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Digitain Appoints LatAm Sales Director
Yggdrasil and ReelPlay unleash hell on earth in Armageddon 10K WAYS™
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