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Gambling in the USA

CEO claims Paddy Power Betfair is “well positioned” in USA

Niji Narayan

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Peter Jackson, chief executive officer of Paddy Power Betfair, said that the company is “well positioned to achieve scale in the US quickly” after a 20 per cent rise in revenue in the second quarter.

The company’s Q2 results were boosted by the activity around Fifa World Cup, as the sales showed a 13 per cent increase. This is encouraging after a weak first quarter showing for the company.

The highlight of the second quarter, though, was the completion of the deal to acquire US daily fantasy sports operator FanDuel.

Although the takeover was only completed last month, after the end of the second quarter, Jackson said in an earnings call that the operator can be justifiably optimistic about growth opportunities in the US, having already established a presence in the country prior to the FanDuel deal.

Sports revenue spiked by 22 per cent in Q2 in the US, with gaming revenue increasing by 18 per cent.

“Fantasy sports will continue to be an important feature in the US market, especially in states where it could take a while for sports betting to be regulated,” said Jackson, who mentioned the “cross-selling” opportunities.

Jackson added that he envisages a “different market construct” in the US in terms of the balance between free-to-play games and sports betting, given the strength of the DFS market.

“Having 100,000 customers in New Jersey is a good starting point,” he said.

“Our US strategy is to go after the B2C market under the FanDuel brand. We have secured market access agreements covering 15 states and 36 per cent of the US population, including markets where regulation is expected by the end of 2019.

“It’s worth remembering that our US business is not a start-up. We have established brands, with FanDuel in sports and TVG in racing, an extensive product suite, operational expertise and we already operate in 45 states, including real-money wagering in 33.”

“Scale is essential for generating sustainable returns in the long term.”

Jackson, referencing the company’s solid base in the US, added: “The group’s strong balance sheet gives us important firepower and could prove to be a competitive advantage.”

In the trading update, Paddy Power Betfair’s profit before tax edged up by 4 per cent to £106m (€118m/$137m), but underlying earnings slipped by 1 per cent.

Additionally, Paddy Power Betfair also said that full-year earnings before deductions and interest, “pre-US sports betting”, is now expected to be between £460m and £480 – down from the previous expectation outlined in the Q1 trading update of between £470m and £495m.

This was attributed to the introduction of point-of-consumption tax and new product fees in Australia and swallowing up Fanduel’s losses “in the high single digits.”

The company added that, with the “infrastructure” already in place to expand in the US, any expenditure in relation to the market would fall under the marketing column.

Jackson added: “In Europe, product enhancements and improved cross sell rates have led to stronger gaming revenue growth over the past few months for both brands, whilst customer satisfaction with the Paddy Power sports app has stepped up.

“Recent marketing campaigns have also been successful with the Betfair brand increasingly identified as having the best odds. The World Cup was a showcase event for Paddy Power, with a series of successfully executed marketing campaigns leading to it being one of the UK’s most talked about brands in social media conversations around the tournament.”

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.

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Daily Fantasy Sports

New headquarters for DraftKings

Niji Narayan

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New headquarters for DraftKings
Reading Time: 1 minute

 

DraftKings, one of Boston’s largest tech companies, is moving into a new corporate headquarters in downtown Boston, as it planned to grow from 425 employees to more than 700 employees in 2019. About 600 of those workers were expected to be based in Boston.

Company executives are hosting a ribbon cutting and tour of the 105,000-square-foot space near Copley Square in the city’s Back Bay neighbourhood.

DraftKings was founded in 2012 and made its mark as a major force in daily fantasy sports. The company is currently located in an office building near South Station.

 

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Gambling in the USA

AGS Demonstrates Its Obsession With Tribal Gaming At The NIGA Indian Gaming Trade Show April 3-4; New Orion Upright Cabinet Makes NIGA Debut

George Miller

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AGS Demonstrates Its Obsession With Tribal Gaming At The NIGA Indian Gaming Trade Show April 3-4; New Orion Upright Cabinet Makes NIGA Debut
Reading Time: 3 minutes

 

Company’s passion for the game takes center stage as AGS displays full lineup of new slot and table games, and online social and real-money games

 

AGS today announced that it will be exhibiting at NIGA‘s Indian Gaming Trade Show April 3-4 in San Diego, with a spotlight on the Company’s newest core slot cabinet – the Orion Upright℠ – along with a host of new slot titles, table products, and online social and real-money gaming solutions.

AGS will be live in Booth No. 1651 at the San Diego Convention Center. Taking center stage will be AGS’ new Orion Upright, a core cabinet with many of the same features as the Company’s award-winning Orion Portrait℠ and Orion Slant℠ platforms, including the distinctive starwall design featuring 420 game-synchronized full-color LED lights to celebrate gameplay. The Orion Upright is launching with a library of exclusive new titles and greatest hits from AGS’ ICON™ cabinet.

Debuting for the first time at NIGA, gaming operators will experience AGS’ Orion Upright with the new Fortune Blast™ family featuring four brand-new titles — Luck and Luxury™, Imperial Luck®, Goddess Treasures®, and Blazing Luck™. This new series offers ways or line-pay evaluation for more winning opportunities, and a symbol-locking feature to keep players on the edge of their seats.

AGS President and Chief Executive Officer David Lopez said, “NIGA is a show we look forward to every year because it gives us a chance to meet with our tribal operator-partners in an intimate setting and highlight our newest and most exciting products that are launching over the year. This year we are very excited about our new Orion Upright because it fills a need on many casino floors for a differentiated, attractive, and sophisticated core cabinet with great content.”

The Company will also showcase its hottest new Class II and Class III titles for the Orion Portrait platform, including Crystal Magic®, Hearts and Horns™, Enchanted Pearl™, and the popular Rakin’ Bacon!™ with its cherubic pig that gets fatter and fatter as the wins add up. Hailing from the Company’s Australia game-development studio, the title Red Silk™ showcases a fresh new family on Orion Portrait featuring a three-level linked progressive, a wild reel feature, and up to 10 free games. For the Orion Slant, AGS will spotlight the Fa Cai Shu™ and Kingdom Ca$h® families, which offer themed banking, linked progressive jackpots, and a variety of math models for a diverse and exciting gaming experience.

AGS continues to propel its table products business with a host of new proprietary table games and table solutions. NIGA attendees will get to experience Super Start Hold’em™, a poker-style game whereby the players always start with the better two-card hand than the dealer; the popular Criss Cross Poker™ with Bonus Spin™; Blackjack Match Progressive™ featuring the popular must-hit-by jackpot level; and Three Card Blitz, an exciting new flush-based game featuring player vs. dealer excitement to achieve the highest-scoring hand using up to three suited cards.

AGS will demonstrate its two table-game progressive platforms – STAX™ and Bonus Spin – which just reached a milestone of more than 1,000 units installed across the U.S. with a healthy backlog of orders planned throughout 2019. The award-winning STAX has a must-hit-by option that is driving demand and excitement on games like Super 4®, Blackjack Match™, and Royal 9™ as players anticipate the chance to win one of the five progressive jackpots. And Bonus Spin offers an eye-catching and anticipatory experience with its virtual prize wheel.

From its table equipment lineup, AGS will showcase the Dex S™ single-deck poker shuffler, featuring a streamlined design that is economical, durable, reliable, and exceptionally functional.

In the Company’s Interactive display, AGS will showcase its ConnexSys™ Social White-Label Casino solution, a turnkey, free-to-play mobile casino app that integrates the casino brand with AGS’ proven and player-favorite land-based titles to keep players engaged at home, work, and on-the-go.

And with real-money gaming at the forefront of many tribal gaming operators’ agendas, AGS will also be on hand to provide live demonstrations of its AxSys Games Marketplace™ and large library of titles, featuring AGS top-performing games as well as a host of entertaining games from third-party developers.

 

About AGS:
AGS is a global company focused on creating a diverse mix of entertaining gaming experiences for every kind of player. Our roots are firmly planted in the Class II Native American gaming market, but our customer-centric culture and growth have helped us branch out to become a leading all-inclusive commercial gaming supplier. Powered by high-performing Class II and Class III slot products, an expansive table products portfolio, real-money gaming platforms and content, highly rated social casino solutions for operators and players, and best-in-class service, we offer an unmatched value proposition for our casino partners. Learn more at www.playags.com.

 

©2019 PlayAGS, Inc. All® notices signify marks registered in the United States.  All ™ and ℠ notices signify unregistered trademarks. Products referenced herein are sold by AGS LLC or other subsidiaries of PlayAGS, Inc.

Source: AGS

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Gambling in the USA

Caesars Palace casino dealers join with UAW Labour Union

Niji Narayan

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Caesars Palace casino dealers join with UAW Labour Union
Photo Source: agoda.com
Reading Time: 1 minute

 

Caesars Palace is one of the largest properties in that part of Las Vegas with a variety of spacious facilities, including its nearly 125,000-square-foot casino floor.

Caesars Palace table game dealers now move to unite with the UAW, the major Detroit-based labour union representing workers from different industries across the United States and Canada. Nearly 550 casino dealers at Caesars Palace voted to unite with the UAW.

The Caesars Palace unionisation decision was made after a 371-12 vote in favour of the move. More than 1,470 dealers at Caesars-owned Bally’s Harrah’s, Paris, and Wynn Resorts’ Las Vegas casinos voted last week to join the union that represents around 400,000 active workers in different industries.

Union President Gary Jones said that they were thrilled to have Caesars Palace “vote to be allowed to join what are now over 10,000 casino workers in the UAW.”

Vance Pearson, Director of UAW Region 5, said in a release that they welcome the new union members and “look forward to getting down to business and bargaining great contracts.”

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