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Gambling in the USA

Worldpay and Paysafe Partner to Develop New Solution for U.S. iGaming and Sports Betting Markets

George Miller

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Worldpay and Paysafe Partner to Develop New Solution for U.S. iGaming and Sports Betting Markets
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Renowned payments pioneers strategically collaborate to deliver a seamless, end-to-end payments experience to iGaming operators and consumers

 

Leading global payment technology providers Worldpay, Inc. (NYSE: WP; LSE: WPY) and Paysafe Group (Paysafe) announced today a new strategic partnership, with sights set on establishing an industry-leading standard in iGaming and Sports Betting digital payments acceptance and security in the United States (U.S.).

The partnership will enable seamless transactions, reduce operating costs and allow universal payment acceptance, leveraging Worldpay’s deep sector expertise and optimized credit card processing, fast-fund payouts, and a range of treasury and payment solutions – alongside Paysafe’s proven online gambling and gaming digital payment options, including its popular NETELLER digital wallet and paysafecard, its award-winning online cash solution.

iGaming is in a phase of significant growth after the U.S. Supreme Court put the legislative power to authorize sports gambling in the hands of states earlier this year. The potential market opportunity for iGaming in the U.S. is massive. According to the American Gaming Association the sports betting market in the U.S. is forecast to be worth $150 billion in gross online and offline gaming revenue and could become the largest sports betting market in the world.

“Through this partnership, Worldpay and Paysafe will be able to champion the needs of U.S. iGaming operators and their players by providing a secure, cost-effective and highly configurable payments platform that delivers an unparalleled player experience,” said Joel Leonoff, President and CEO at Paysafe Group. “Our innovative approach means we can support all transactions, no matter how the player wants to pay. We’re very excited to once again get behind a new and growing sector.”

Combining Paysafe’s and Worldpay’s capabilities in the Gaming sector will ultimately help to boost the player’s payment choices leading to better conversion and retention. Through the creation of this breakthrough solution, the two leaders will provide seamless connectivity, via a single point of integration, to wide-ranging payments solutions and services such as credit card processing, digital wallets, cash payment solutions, ACH and near instant push-to-card payouts tailored for the U.S. market.

“As a leading payments provider for iGaming companies, state lotteries and land-based casinos, Worldpay is excited about the enhancements this partnership will bring when it comes to maximizing payment acceptance, enabling new digital wallets, as well as minimizing fraud risk and lowering cost,” said Shane Happach, EVP, Head of Global Enterprise eCommerce  for Worldpay. “Our combined strengths and capabilities will simplify payments for gaming operators, while also continuing to show our attentiveness to responsible gaming and our mission to protect the integrity of every transaction.”

 

About Paysafe
Paysafe Group is a leading global provider of end-to-end payment solutions. Its core purpose is to enable businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallet, card issuing and online cash solutions.

With over 20 years of online payment experience, an annualized transactional volume of over US$80 billion and approximately 3,000 employees located in more than 12 global locations, Paysafe connects businesses and consumers across 200 payment types in over 40 currencies around the world.

Delivered through an integrated platform, Paysafe solutions are geared toward mobile-initiated transactions, real-time analytics and the convergence between brick-and-mortar and online payments.

About Worldpay, Inc.
Worldpay, Inc. (NYSE: WP; LSE: WPY) is a leading payments technology company with unique capability to power global omni-commerce. With an integrated technology platform, Worldpay offers a comprehensive suite of products and services, delivered globally through a single provider. Worldpay processes over 40 billion transactions annually, supporting more than 300 payment types across 146 countries and 126 currencies. The company is focused on expanding into high-growth markets and customer segments including global eCommerce, integrated payments and B2B.

George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Daily Fantasy Sports

DraftKings and Sportradar Announce Long-Term Partnership Extension

George Miller

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DraftKings and Sportradar Announce Long-Term Partnership Extension
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Deal Gives DraftKings Access to Official Sports Data Feeds for Sports Betting and Daily Fantasy Sports

DraftKings Inc. a leader in the sports technology and entertainment space, and Sportradar, the world’s leading global provider of sports data and content, officially announced a long-term partnership extension whereby Sportradar will continue to be DraftKings’ supplier for data feeds and bet stimulation content.

As part of the extension, Sportradar will provide DraftKings with access to a variety of official sports data feeds, including the NFL, MLB, and the NBA for sports betting and daily fantasy sports (DFS).

“We are proud to extend our partnership with DraftKings, one of the most respected gaming companies in the US,” said Neale Deeley, Vice President of US Sales and Gaming, Sportradar. “DraftKings’ journey into sports betting has been a fantastic success, and we have been honored to be on that journey with them. We look forward to continuing that success for many years to come.”

The partnership will bring more instantaneous data feeds to the DraftKings Sportsbook, supplementing live and in-play wagering, these offers becoming more prevalent as legalized sports betting continues to expand across the nation. With the new ability to access official league data and branding, DraftKings is poised to bring fans even closer to the action.

“DraftKings’ goal is to build the best, most trusted and most customer-centric destination for sports fans and our expanded partnership with Sportradar provides us with superior support,” said Ezra Kucharz, chief business officer, DraftKings. “This partnership will enhance customer experience by allowing us to provide faster turnaround time on our products and give us the opportunity to develop new, innovative offerings for our players.”

All mobile DraftKings Sportsbook and DFS offerings are available for downloaded on both iOS and Android apps.

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Canada

Bragg Gaming Group Reports Third Quarter 2019 Results

George Miller

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Bragg Gaming Group Reports Third Quarter 2019 Results
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Enters the lucrative U.S. gaming market through recently announced partnership with Kambi Group and Seneca Gaming Corporation

Bragg Gaming Group has released its results for the third quarter ended September 30, 2019, achieving strong sequential revenue growth of 13 per cent over Q2 2019.

Third Quarter 2019 Results

In the third quarter, the Company delivered continued growth with revenue of CDN $10.0M, gross profit of CDN $4.3M, EBITDA of CDN $0.2M, and net loss from continuing operations of CDN $0.2M. These results culminated in strong performance for the first nine months of 2019 with revenue of CDN $28.0M, gross profit of CDN $12.6M, EBITDA of CDN $0.6M and net loss from continuing operations of CDN $7.6M.

Dominic Mansour, Bragg’s CEO, said: “We’ve made significant progress this quarter, with our focus on B2B with ORYX driving 30 per cent revenue growth compared to Q3 2018. This resulted in a significant improvement in ORYX’s gross profit and in-turn drove ORYX EBITDA to grow by over 300 per cent to CDN $1.2M.

“I am extremely pleased with the Company’s progression over the past quarter. We’ve proven that, with our modern technology and seamless integration process, we are able to expand our operator base at a significantly faster rate than the competition. I am particularly pleased that the strong momentum of operator launches experienced in the first half of the year continued into Q3 with the successful launch of 10 new operators. We expect this momentum to further accelerate throughout Q4 with more than 14 launches in the pipeline.”

US Market Entry

Bragg recently entered into a partnership with Kambi Group, a well-established provider of premium sports betting services with an extensive client base. Bragg will provide their casino services and unique player account management (PAM) along with Kambi’s sports betting services to operators worldwide, with an initial focus on the burgeoning US market.

This newly created partnership recently signed a deal with New York’s Seneca Gaming Corporation (SGC), which operates all of the Seneca Nation’s Class III gaming operations in western New York. The Bragg and Kambi teams will collaborate to provide SGC with a combination of their services and products across SGC’s three New York casinos.

“Our partnership with Kambi and the initial deal with Seneca are both huge stepping stones for Bragg as we commence operations in the U.S. and continue to expand our global reach,” noted Mansour.  “Our strategic focus in the U.S. is to partner with tier-1 casinos and operators. I believe that this Seneca deal will be the first of many in the coming years, particularly as the legal landscape continues to mature.”

Strategic Review of Online Media Division

The strategic review of the online media divisions consisting of the GiveMeSport asset has continued through the second half of 2019, and the Board expects this to be completed in Q1 2020.

In the interim, Bragg continues to enhance the GMS platform in order to drive more volume. The relaunch of the GMS website was completed in July, and the site is now quicker, slicker, more intuitive, and has a lighter ad load. These improvements culminated in peak site traffic in October 2019, which were 46 per cent greater than October 2018, growing from 15.9M visitors to 23.3M organic visitors.

Directorate Changes

Bragg’s CFO, Akshay Kumar, has announced his intent to step down as Chief Financial Officer of the Company for personal reasons. Effective November 13, 2019, Steven Prowse will assume the role of Chief Financial Officer. Mr. Kumar will assist Mr. Prowse, ensuring a seamless transition.

Prowse is an industry veteran with over 10 years’ experience in the betting and gaming sector. He served as Group Finance Director for PartyGaming plc (later bwin.party), a gaming business listed on the London Stock Exchange, and was instrumental in M&A, including the acquisition of Foxy Bingo and the €2.1bn merger with bwin in 2011 where he continued as Group Finance Director.

Dominic Mansour said: “I would like to thank Akshay for his hard work and contributions to Bragg. Our team wishes him all the best for the future. We also look forward to welcoming Steven to the Bragg team and believe his expertise with M&A in the sector will be extremely valuable during this pivotal time for the Company.”

Steven Prowse said: “I am delighted to join Bragg at such an early and exciting point in its growth trajectory.  Bragg has market-leading technology, products and people.  As such, I see enormous potential for this business and am very much looking forward to being a part of that growth.”

 

 

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Compliance Updates

Illinois Gaming Board Grants First Land-Based Casino License to Rivers Casino

Niji Narayan

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Illinois Gaming Board Grants First Land-Based Casino License to Rivers Casino
Photo Source: fadmagazine.com
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The Illinois Gaming Board has granted the state’s first land-based casino license to Rivers Casino.

Granted under the sweeping expansion of the state’s gaming sector that was signed into law in June, the new license enables operator Rush Street Gaming to move its gambling operation beyond the shallow pool of water it built to qualify as a riverboat. Rivers Casino opened in 2011 under the provisions of the Riverboat Gambling Act of 1990.

Rush Street plans to invest $150 million to expand the casino and increase the number of gaming positions to 2000.

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