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Gambling in the USA

SBTech announces partnership with Resorts Casino Hotel for sports betting in New Jersey

Zoltan Tundik

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SBTech announces partnership with Resorts Casino Hotel for sports betting in New Jersey across online and on property channels

Resorts will launch SBTech’s sportsbook solution including a fully integrated on-property and omni-channel offering, backed by fully managed risk management services.

London, UK – 02 July 2018SBTech, the industry-leading sports betting solutions provider to the regulated iGaming sector, has signed an agreement with US land-based casino operator Resorts Casino Hotel (Resorts) to provide its sportsbook solution across on-property, online and mobile channels in New Jersey, subject to the appropriate regulatory approvals.

This marks SBTech’s second major US partnership, following on the heels of SBTech’s recent multi-jurisdictional partnership with Churchill Downs Incorporated. Both partnerships will leverage the SBTech platform for their full omni-channel offering across all channels, with a focus on the on-property solution to provide a land-based solution for the future, leveraging the experience and vision that the partnership has to offer.

Among the factors that led to the Resorts selection of SBTech were the US focus of SBTech’s proprietary market-leading sportsbook, coupled with the company’s proven track record of rapid deployment in newly regulated markets. Recently, SBTech’s leading in-play offering was once again recognised at the annual EGR B2B awards where it won the “In-Play Betting Software” prize for the third year running. SBTech’s range of mobile-first product features, including its patent-pending Pulse Bet as well as YourBet, were also key factors in Resorts selection of SBTech among many contenders.

The partnership will also see Resorts fully outsource its risk management and trading to SBTech. Proprietary trading operations will enable SBTech to implement a bespoke risk management strategy, allowing Resorts to achieve genuine differentiation in a crowded field and be in full control of their liabilities and not be influenced by a wider pool-based risk management.

Commenting on the deal, Richard Carter, CEO of SBTech stated “Our strategic partnership with Resorts represents the next stage of our long-planned penetration of the US market. SBTech’s renowned commitment to delivering leading-edge solutions across all channels and intelligent responsible gaming infrastructure will help us develop a sports betting offering that will benefit our partners and promote best practice and the strongest levels of consumer protection.”

Mark Giannantonio, President & CEO of Resorts Casino Hotel, added: “After conducting a comprehensive selection process to find the right sports betting supplier, we feel that SBTech offers the right combination of deep regulatory expertise in the world’s most dynamic and demanding markets and the scalability to support our ambitious multi-vertical plans.”

For all press enquiries, please contact:
Andrew Cochrane, Chief Commercial Officer
Tel: +44 7957 355344
Email: [email protected]

About SBTech

SBTech is a global leader in omni-channel sports betting and gaming, with over 1,000 employees in 8 offices worldwide. Since 2007, the group has developed the industry’s most powerful online sports betting and casino platform, serving licensees in over 15 regulated markets.

SBTech’s clients include many of the world’s premier betting and gaming operators, state lotteries, landbased casino and horse racing companies, and igaming start-ups. The group supplies superbly flexible betting and gaming solutions to clients looking for speed to market and exceptional configurability, supported by the best business intelligence and reporting capabilities.

The SBTech offering includes its Seamless Sportsbook, the Chameleon360 iGaming Platform, Managed Services, and retail and omni-channel solutions that provide players with constant access to sports and casino products across all touchpoints: online, mobile and retail.

Backed up by unrivalled expertise in trading and risk management, regulatory compliance, AML and KYC procedures, acquisition and CRM, SBTech’s partners consistently achieve rapid growth, enhanced brand loyalty and peak profitability.

For more information, visit: www.sbtech.com

About Resorts Casino Hotel

The resort that brought gaming to Atlantic City in 1978, Resorts Casino Hotel, a Mohegan Gaming & Entertainment Property, is at the top of its game today, offering world-class casino action in a relaxed environment that keeps the focus on fun. Resorts Casino Hotel made history as the first American casino outside of Nevada and recently celebrated a major milestone – their 40th anniversary in May 2018.

Winner of 20 Casino Player Magazine 2017 “Best of Gaming Awards,” Resorts Casino Hotel has undergone over $100 million in renovations, including the all new state-of-the-art Resorts Conference Center, a large $25 million room renovation project and the $35 million Jimmy Buffett’s Margaritaville themed entertainment complex with the only beach bar, Landshark Bar & Grill, on the Atlantic City sand open – year-round.

Mohegan Gaming & Entertainment assumed management of Resorts Casino Hotel in 2012, a move that has set the stage for its return as the most exciting gaming destination in Atlantic City. Boasting a prime location spanning 11 acres at the northern end of the famed Atlantic City Boardwalk, the resort features 942 guest rooms and suites in two hotel towers, an 80,000-square-foot casino, two theaters, 10 restaurants, a food court featuring five eateries, two VIP slot and table player lounges, a casino bar, indoor-outdoor swimming pool, health club and spa, salon, and retail shops. Its 64,000 square feet of technologically advanced meeting space includes 24 meeting and function rooms, most featuring natural light and ocean views, and a 13,000-square-foot ballroom. For more information, visit our
website or call 1.800.334.6378.

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Gambling in the USA

MGM Resorts International And GVC Holdings Commit To Second Round Of Investment In US Sports Betting And Online Gaming Platform BetMGM

George Miller

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MGM Resorts International And GVC Holdings Commit To Second Round Of Investment In US Sports Betting And Online Gaming Platform BetMGM
Reading Time: 5 minutes

 

ROAR Digital, LLC – the US sports betting and online gaming company operating as BetMGM and owned jointly by MGM Resorts International and GVC Holdings – announced that its shareholders have committed to a second round of investment, bringing the total to $450 million. This increase follows MGM Resorts’ and GVC’s total initial commitment of $200 million and underpins their commitment to BetMGM becoming a leading player in the rapidly growing US sports betting and iGaming markets. These two rounds of investment provide the Company with over $370 million of investable capital at present.

Since its launch in 2018, the Company has made significant progress and is on track to operate in 11 states by the end of 2020. In addition to the financial strength of both its shareholders, the Company benefits from MGM Resorts’ leading brand, iconic physical properties, and loyal customer base, along with GVC’s proprietary, globally-proven technology.

“We launched this business to combine the best of MGM Resorts and GVC, and establish BetMGM as a leading brand in the US sports betting and iGaming markets,” said Adam Greenblatt, CEO of ROAR Digital, LLC. “With broad market access secured, our long-term technology foundations now firmly established, and a high performing team in place, this further unequivocal support from our two shareholders will ensure we can achieve leading market positions in this exciting industry that is growing even faster than our initial expectations.”

Greenblatt concluded, “BetMGM is on track to generate over $130 million of net revenues this year predominantly from iGaming in New Jersey given the impact of COVID-19. With the return of sports and our growing operations across the US, we anticipate rapid growth in the coming year.”

The Company’s success will be built on its four core strategic tenets, each of which provide distinct competitive advantages:

1.  Market access:

The Company has already secured market access to 19 states1 which together reach approximately 50% of the US population. It has active operations in seven states with four more expected to launch by year end 2020.

With a best-in-class web, mobile, and desktop sportsbook platform as well as supporting MGM Resorts’ brick and mortar sportsbook destinations, BetMGM’s exclusive betting engine allows sports fans to place bets quickly, safely and easily in every channel. This superior experience, together with the Company’s demonstrated strength in player onboarding and management as well as GVC’s global sportsbook expertise, places BetMGM in a very strong position to achieve a leading share in the US sports betting market, estimated to achieve revenues of approximately $8.5 billion2 by 2025.

In iGaming, the Company has already achieved a leading market position in New Jersey with approximately 18% market share3 and gross gaming revenue growth of 210% in the second quarter of 2020 compared to the prior year quarter. The US iGaming market is estimated to achieve revenues of approximately $6.9 billion2 by 2025, and the Company believes that it can replicate this leading market position in other jurisdictions, as additional states legalize iGaming in the future.

2.  Customer reach:

The Company is uniquely positioned to access a wide range of customers through its partners, affiliates and its omni-channel approach.

MGM Resorts has an established portfolio of market-leading properties across the US, giving BetMGM access to market to millions of engaged and brand loyal customers. M life Rewards, MGM Resorts’ loyalty program, has over 34 million members, of which approximately 18% are located in states planned to be live on the BetMGM platform by the end of 2020.

The Company is integrating M life Rewards in support of an omni-channel strategy such that BetMGM customers will become M life Members to earn and enjoy Tier status, recognition and rewards based on their sports and iGaming wagers. Likewise, existing M life Rewards members will now have a new way to earn Tier Credits and status based on sports and iGaming wagers placed with BetMGM. This integration is expected to drive new customer acquisition, omni-channel activity, as well as ongoing customer loyalty and engagement for BetMGM.

In addition, the Company has exclusive partnerships with Yahoo Sports and Buffalo Wild Wings. Upon the imminent return of sports, the Company is looking forward to launching BetMGM to Yahoo’s 64 million monthly active users, including one of the largest fantasy sports player bases in the US.

3.  Product and technology:

BetMGM has exclusive access to GVC’s proven, highly flexible, and highly scalable in-house technology platform, which gives it world-class infrastructure, tools and content in both iGaming and sports betting.

Access to proprietary and vertically integrated technology is a key strategic advantage in delivering a leading sports and gaming proposition to customers. Core benefits include speed of development, reducing time to market on innovative new features, platform stability and flexibility, and ease of use.  The technology platform has been fully optimized ahead of the return of US sports, with the Company enjoying support from a team of over 2,000 IT specialists, including a dedicated team servicing the BetMGM product.

The Company also benefits from the maturity and rich features of GVC’s sports product, including an immersive in-play betting experience across an exhaustive range of sports as well as a range of industry leading bet management features such as Bet Rewards, Odds Boosts, Build-A-Bet, Edit-My-Bet and Auto Cash Out features. Combined with state-of-the-art engagement capabilities, best-in-class frictionless customer experience, as well as powerful omni-channel journeys and cross sell capabilities this gives BetMGM significant technological and experiential advantages. Internally developed, exclusive iGaming content has been key to BetMGM’s success in New Jersey. The current strength of product and technology, combined with the pace of improvement and innovation, strongly supports the Company’s leadership ambitions.

4.  People: 

In addition to being able to draw on the outstanding talent within both MGM Resorts and GVC, the Company has built an industry-leading team across a range of functions, including marketing, technology, product development, and customer engagement and retention.

The team has been hand-picked and combines deep industry experience from around the globe with US specialists in areas where local expertise is vital such as VIP, product UI/UX and customer research.

The US-based trading leadership team has a track-record of building trading operations and winning market share from incumbent players in the sports betting market. The approach and techniques further support the Company’s growth agenda.

“Sports betting and iGaming are fundamental to what MGM Resorts does best,” said Bill Hornbuckle, Acting CEO & President of MGM Resorts. “Our investment in ROAR is a demonstration of our continued excitement about the unique benefit of offering unforgettable, premier entertainment experiences to millions of our loyal guests directly through BetMGM. We believe this competitive advantage places BetMGM at the forefront of the most dynamic growth opportunity in all of US gaming and will ultimately deliver meaningful long-term value for our shareholders.”

“These are exciting times for BetMGM, as it continues to expand its iGaming business while also offering customers an outstanding sports betting experience as live sports returns to the US,” said Kenny Alexander, CEO of GVC. “We see enormous potential for the US market and are delighted to have such a strong foothold in it through our partnership with MGM Resorts. Our stake in BetMGM is, by some distance, the most important and exciting investment that GVC has ever made. We are absolutely committed to ensuring that the Company has the funding and technical resources needed to achieve long-term market leadership, whilst delivering significant value for shareholders.”

 

SOURCE MGM Resorts International

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Gambling in the USA

Global Gaming Expo Announces Las Vegas Event Cancellation

George Miller

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Global Gaming Expo Announces Las Vegas Event Cancellation
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Global Travel Restrictions, Uncertain Guidance Prompt Show Organizers to Eliminate All In-Person Elements

The American Gaming Association (AGA), with partner Reed Exhibitions, formally announced the cancellation of the Global Gaming Expo (G2E), the gaming industry’s top global event. The show’s organizers are committed to facilitating economic, education, and networking opportunities for the global gaming industry through a series of virtual G2E events throughout the rest of the year to better reflect the current environment. G2E was scheduled to take place October 5-8, 2020; the next in-person edition of the Global Gaming Expo (G2E) will take place October 4-7, 2021 at the Sands Expo and Convention Center.

“In light of continued uncertainty around a viable marketplace at a physical G2E show, global travel restrictions, and currently unknown guidance on large public gatherings this fall, we have come to the unfortunate conclusion that we simply cannot hold an in-person G2E this year,” said AGA President and CEO Bill Miller. “Health and safety have always been our top priority and the uncertainty created by the ongoing pandemic makes this the prudent decision ahead of critical deadlines for exhibitors planning to participate.”

For 20 years, G2E has welcomed nearly 30,000 attendees annually from across the globe, including executives representing key industry partners such as the Association of Gaming Equipment Manufacturers, as well as the world’s top casino operators, sports betting companies, and FinTech and digital payments facilitators, among others.

“We arrived at this decision after thoughtfully engaging with national, state, and local public health authorities, as well as exhibitors and buyers who have shared industry observations and priorities. Ultimately, it became clear that proceeding with an in-person gathering simply was not feasible,” said Hervé Sedky, Reed Exhibitions Americas President.

“It is our commitment to use G2E’s platform, as the leading convener of the global gaming community, to continue to deliver unparalleled education content, inspiring collaboration, and innovative ideas as the industry readies for continued growth,” added Sedky.

“As the country works to reopen, the American gaming industry continues to adapt and provide the safest possible experience for our employees and customers while continuing to support the communities in which we operate. We look forward to the moment when we can convene together again with our colleagues from across the world and celebrate the resilience that our industry is known for,” concluded Miller.

The event organizers will announce plans for virtual events and education in the near future.

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Gambling in the USA

FlowPlay Crosses $250,000 Milestone in Funds Raised for American Cancer Society

George Miller

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FlowPlay Crosses $250,000 Milestone in Funds Raised for American Cancer Society
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FlowPlay, creator of one of the most powerful immersive gaming platforms, announced that its Vegas World in-game fundraisers have surpassed $250,000 raised for the American Cancer Society (ACS). This news comes on the heels of FlowPlay’s most recent campaign, which generated $55,000 for ACS Hope Lodge facilities. This year’s momentum has built upon FlowPlay’s record fundraising year in 2019, when its players helped raise upwards of $100,000 for ACS’s Road To Recovery and Reach To Recovery programs and also extended support to local organizations Crooked Trails and the Seattle Theatre Group.

During the month of May, 2020, FlowPlay offered a virtual ACS Hope Lodge-branded charm in the company’s flagship connected game, Vegas World, which was available for players to purchase. The funds raised helped ACS open the doors of Hope Lodge facilities which had been temporarily closed due to COVID-19 to frontline health care workers. As Hope Lodge communities prepare for reopening to cancer patients and caregivers, additional safety precautions must be instituted. Building modifications, increased cleaning processes, and new necessary supplies such as PPE are adding one-time costs of approximately $350,000 making funding for these facilities especially critical during this unprecedented time.

“I’m always blown away by the ongoing generosity and support our Vegas World community has for the American Cancer Society,” said Derrick Morton, CEO, FlowPlay. “Today marks a major milestone for FlowPlay and ACS, but the needs continue to grow. As our players keep showing up to help those who need it most, I’m hopeful we can continue to make a major impact both in our own backyard and beyond.”

“We are extremely grateful to Vegas World players and FlowPlay for their generosity helping the American Cancer Society to continue to save lives,” said Howard Heino, American Cancer Society Vice President, Hope Lodge Operations & Facilities Management. “Like many organizations, the Society is facing unimaginable challenges to its fundraising. Without companies and individuals stepping forward to help, more lives will be lost to this disease that one in three people will face throughout their lives. Thank you for your critical support.”

To donate to the American Cancer Society, please visit: http://cancer.org/donatelocal.

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