Playtech, the world’s leading gambling technology company, today announces it has launched its award-winning Casino content with long-term strategic partner, bet365, in New Jersey.

The launch sees bet365 go live with a selection of Playtech’s best-performing games including Playtech classics like White King, Great Blue, and Frankie Dettori’s™ Magic Seven.

The partnership marks the first step for Playtech into the US market, with plans to partner with more New Jersey operators in the coming months. This follows Playtech securing regulatory approval for the market just last month. Playtech has also started the licensing process in other US jurisdictions.

bet365 entered the New Jersey market in 2019 and has since been providing its sportsbook and online casino to customers in the state.

A bet365 spokesperson, said: “We’re excited to partner with Playtech in order to expand our content offering to the US market. Given the range and caliber of Playtech’s content, being first to market it is a real differentiator for our platform. We look forward to developing upon our already solid partnership as we continue to grow our Casino offering.”

Shimon Akad, Playtech Chief Operating Officer, said: “This is a significant moment for Playtech and our development in the US. Launching Playtech’s software in the US is a landmark, and we are very pleased to be taking this step with one of our most trusted partners in bet365. With more titles and content launching in the coming weeks and months, there are exciting times ahead. This launch also serves as a prime example of our commitment to partnering with leading operators to bring leading software services and great content to new and growing markets.”

Sports betting and online casinos could produce as much as $93 million in first-year tax revenue in Michigan, according to projections from MichiganSharp.com.

The first of Michigan‘s online sports betting and casino platforms might launch by the end of 2020. This sets the stage for Michigan to become one of the top online gambling states in the U.S.

Competitive State Tax Rates Make for an Online Betting Hub

Gross revenue from sports betting, both online and retail, will be taxed at 8.4% from the state. Detroit‘s three commercial casinos pay an additional 1.25% city tax.

Michigan hosts 26 land-based casinos, all of which can be expected to offer sports betting and online gaming to the state’s 10-million population at some point.

“All of the pieces are in place for Michigan to become a major hub for sports betting and online gambling,” said Geoff Fisk, analyst for MichiganSharp.com. “Virtually all of the state’s casinos should want a piece of the new market, especially with the attractive tax rates.”

By comparison, New Jersey taxes land-based sports betting at 9.75% and online sportsbooks at 13%. Indiana‘s online sports betting tax is levied at 9.5%, while Pennsylvania taxes sports betting at 36%.

State lawmakers passed House Bill 4916 in December 2019, which legalized both retail and online sports betting. The bill also brings online casinos and online poker to the state, setting the stage for Michigan to become one of the biggest legal online gambling markets in the US.

All 26 of Michigan‘s retail casinos can apply for sports betting and internet gaming licenses through the Michigan Gaming Control Board. In a situation unique to Michigan, the state’s three commercial casinos, as well as the 23 tribal casinos, are eligible to offer internet gaming.

Online sports betting has proven massively successful in Pennsylvania and New Jersey. In both states, online wagering accounts for more than 80 percent of total sports betting revenue.

First-Year Revenue Projections of $650M, According to MichiganSharp.com

MichiganSharp.com projects that the state could bring in as much as $400 million in total first-year sports betting revenue, producing $33.6 million in tax revenue for the state.

“Mobile wagering should be the major revenue driver for Michigan‘s sports betting market,” Fisk said. “The convenience and ease of access of online sports betting opens up a whole new world of opportunities for both bettors and sportsbook operators.”

Online casino and poker revenue will be taxed at 20-28% from the state, using a tier system dependent on earnings. MichiganSharp.com projects that online casinos and poker could earn as much as $250 million in first-year operations, bringing in a possible $60 million in tax revenue.

MichiganSharp.com projects that total revenue from sports betting, online casinos, and online poker, could earn $650 million in year one of operations, resulting in $93.6 million in tax revenue for the state.

For more analysis and news on the latest developments in Michigan‘s legal gambling industry, visit MichiganSharp.com.

SOURCE MichiganSharp.com

Technology provider EveryMatrix recruits iGaming executive Erik Nyman to join its Leadership Team and lead the opening of the company’s first US office.

Erik Nyman will lead EveryMatrix’s expansion in the US market by building the organization as President Americas. With over 10 years of experience in the online gaming business, Erik is specialized in new market entries and strategic deals. His leadership and business acumen played a pivotal role in establishing NetEnt in the US.

CasinoEngine, the company’s iGaming and Integration Platform, will be the leading product for the expansion, following its massive success in several European markets.

Ebbe Groes, Group CEO of EveryMatrix, comments: “Expanding into the US is the next step for the organization. We have a strong European presence, very experienced teams, premium products on both casino and sports, so tackling more regulated markets is a logical strategic move for us.

“I welcome Erik to our team, and I personally admire his skills, experience, and determination. I am delighted that we can attract such talent in our Leadership Team. Erik will make our entry considerably more effective and successful.”

Erik Nyman, President Americas at EveryMatrix, says: “EveryMatrix offers the largest variety of products and functionality in the online gaming business. Their platform, entrepreneurial spirit and people have enabled their success, which has accelerated over the last years.

“Today EveryMatrix is among the leading turnkey suppliers in our industry. Success in the US requires great product, dedication and the ability to establish strong beneficial partnerships. The organization possesses all of those qualities, and I am very honoured to lead their expansion into the US and Americas.”