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Vereeni Investments adds Moneyball stake to fast-growing portfolio

George Miller

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Vereeni Investments adds Moneyball stake to fast-growing portfolio
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Venture capital fund Vereeni Investments had made its latest move with a significant investment into Australia’s leading daily fantasy sports operator Moneyball.

The agreement will see Vereeni acquire a majority stake in Moneyball in return for a seven-figure investment.

Launching in 2015, Moneyball was the first Australia-facing daily and weekly fantasy sports operator and is powered by an innovative proprietary platform.

It holds licences applicable to all Australian states and offers a range of contests across multiple sports, including NRL, AFL, EPL, NFL, NBA, PGA, MLB, horse racing, and cricket.

The operator is also expanding internationally with a growing presence in India since 2016, and expects to be live in the US soon with other markets set to follow.

Timothy John Heath, founder and CEO of Vereeni Investments, said: “Acquiring a stake in Moneyball adds another important and complementary asset to the Vereeni ecosystem.

“Moneyball is already established as Australia’s number one daily fantasy sports platform, and we see huge potential for further growth, both in Australia and internationally.

“As an operator that has innovated from the outset, Moneyball is a perfect fit with Vereeni and we are excited to see what the future holds.”

James Fitzgerald, co-founder and co-CEO of Moneyball, said: “We are absolutely thrilled to have Vereeni Investments onboard.

“Becoming a part of the Vereeni family positions us strongly for further growth, giving us access to unparalleled global reach and expertise within the gaming sector.

“Daily fantasy sports is still a massively underserviced sector with potential to grow much faster than the broader market. We have spent the last three years searching for a partner to help us deliver on this potential, and in Vereeni we have finally found one.”

Moneyball joins Vereeni’s €100million ‘Level Up’ tech fund alongside a range of other promising early-stage ventures across the fintech, online gaming, business intelligence, insuretech and blockchain verticals, including Global Gaming, OneTouch and Singular.

Australia

Jumbo Interactive Extends Partnership with Tabcorp

Niji Narayan

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Jumbo Interactive Extends Partnership with Tabcorp
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Digital lottery company Jumbo Interactive has extended its resale agreement with Tabcorp for a further 10 years.

This extension comes after a binding term sheet was signed on June 28 and will apply to all States and Territories, except Western Australia and Queensland.

“The next 10 years will see a lot of advances in the lottery industry both in Australia and abroad. The new 10-year reseller agreements are the longest ever term in Jumbo’s history and provide a basis for continuing expansion,” Mike Veverka, CEO and Founder of Jumbo Interactive, said.

“In addition, growing the Australian online lotteries business with continued access to Tabcorp’s existing successful portfolio of lottery games, Jumbo will continue to pursue international lottery opportunities, leveraging Jumbo’s lottery software-as-a-service (SaaS),” he added.

For this 10-year extension, Jumbo will pay an upfront fee of $15 million to Tabcorp and a service fee totalling 4.65% of the ticket subscription price. This fee will begin at 1.5% in FY21, 2.5% in FY22, 3.5% in FY23 and 4.65% for every year after that.

From FY21 to FY23, and when the subscriptions exceed $400 million per year, Jumbo will pay an additional 4.65% of the exceed value.

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Australia

NSW to Resume Investigation into Crown Resorts

Niji Narayan

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NSW to Resume Investigation into Crown Resorts
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The NSW Independent Liquor and Gaming Authority (ILGA) has revealed that it will immediately resume its public inquiry into Australian casino operator Crown Resorts following a near three month delay due to COVID-19.

However, the inquiry will shift its focus from the acquisition of a 9.99% stake in Crown by Macau’s Melco Resorts and Entertainment in May 2019 to Crown’s suitability to hold a NSW casino license after Melco recently sold off its entire holding.

ILGA said it has decided that “all work of the casino inquiry will resume immediately” due to the easing of COVID-19 restrictions but that, “Following changes in the ownership of shares in Crown Resorts by Melco Resorts, the inquiry’s Terms of Reference have been updated.”

The inquiry will now focus on a suitability review of Crown to operate its AU$2.2 billion Crown Sydney development at Barangaroo, due to open in early 2021, after certain Australian media outlets published explosive allegations last year that it had engaged in money laundering, breached gambling laws and partnered with junket operators with links to drug traffickers, money launderers, human traffickers and organised crime groups.

According to the ILGA, the Commissioner is to inquire and report on whether Crown is still suitable to hold a license for its Sydney casino and whether the original sale of shares to Melco breached its restricted gaming license, among other related matters.

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Australia

Clubs 4 Fun Play City welcomes END 2 END’s bingo offering

George Miller

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Clubs 4 Fun Play City welcomes END 2 END’s bingo offering
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END 2 END has expanded its global iGaming presence by striking a strategic content partnership with leading Australian operator, Clubs 4 Fun Play City.

This deal allows Clubs 4 Fun Play City members to gain instant access to END 2 END’s Bingo Multiplayer platforms across desktop, tablets, and mobile devices. Clubs 4 Fun Play City is available at iOS and Android stores and is free to download across the Australian territory.

END 2 END’s offering integrates perfectly with the Australian bingo app which excels at providing its community with a truly interactive and social experience.

END 2 END’s innovative platform features state-of-the-art real-time Bingo Multiplayer technology. It includes 90-ball bingos as well as an advanced interface which is seamlessly available across any type of device. Based in Buenos Aires and Miami, END 2 END is one of the world’s leading providers of Bingo Multiplayer solutions.

Alejandro Revich, CEO and founder of END 2 END added: “Clubs 4 Fun Play City really understands what bingo players want and we’re proud to call them a partner. This deal adds momentum to END 2 END’s expansion strategy which is ensuring our proprietary content and technology is embraced worldwide.”

Tim Seager, Clubs 4 Fun Play City Director followed: We needed a flexible solution with a truly compelling user experience that we could integrate and get live quickly, and after investigating what alternatives there were on the market, we quickly decided to work with End 2 End. The integration indeed was achieved in a short space of time and if there were any issues they were dealt with quickly.“

 

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