Gambling in the USA

The Stars Group and Penn National Gaming Enter Agreement for Online Betting and Gaming Market Access

Published

5 years ago

August 2, 2019

The Stars GroupThe Stars Group Agrees to Acquire BetEasy Minority Interest; Settles Performance Paymentand Penn National Gaming Enter Agreement for Online Betting and Gaming Market Access

Reading Time: 3 minutes

The Stars Group Inc. announced that it entered into an agreement with Penn National Gaming that grants it options to operate online betting and gaming in states where Penn currently owns or operates casino properties. The agreement covers nine states, which, when combined with The Stars Group’s existing market access deals, gives The Stars Group access in up to 20 states. Unless otherwise noted, all dollar ($) amounts are in U.S. dollars.

The agreement grants The Stars Group the option to own, operate and brand real-money online sports betting, poker and casino offerings in each of the applicable states subject to license availability, state law and regulatory approvals. As it relates to sports betting, The Stars Group’s options currently provide first skin access in Illinois, Indiana, Ohio and Texas, and second skin access in Kansas, New Mexico, Maine, Massachusetts and Michigan.

“We are excited to announce this agreement with Penn, a respected leader in the gaming and racing industry in the United States,” said Rafi Ashkenazi, Chief Executive Officer of The Stars Group. “This agreement further extends our market access platform, as we work to establish our FOX Bet business as one of the leaders in the emerging U.S. online betting and gaming market.”

Timothy J. Wilmott, Chief Executive Officer of Penn commented, “The Stars Group is one of the world’s largest publicly listed online gaming companies. Its agreement with FOX Sports positions it to become a leader in the U.S. industry, and we are excited to work with The Stars Group to capitalize on its proven ability to leverage its products to gain share in the growing market for online gaming.”

Under the terms of the agreement, Penn will receive a revenue share from the operation of the applicable offerings by The Stars Group, an up-front cash payment of $12.5 million, and potential additional cash payments upon and following The Stars Group’s exercise of each option.

About The Stars Group:
The Stars Group is a provider of technology-based product offerings in the global gaming and interactive entertainment industries. Its brands have millions of registered customers globally and collectively are leaders in online and mobile betting, poker, casino and other gaming-related offerings. The Stars Group owns or licenses gaming and related consumer businesses and brands, including PokerStars, PokerStars Casino, BetStars, Full Tilt, FOX Bet, BetEasy, Sky Bet, Sky Vegas, Sky Casino, Sky Bingo, Sky Poker, and Oddschecker, as well as live poker tour and events brands, including the PokerStars Players No Limit Hold’em Championship, European Poker Tour, PokerStars Caribbean Adventure, Latin American Poker Tour, Asia Pacific Poker Tour, PokerStars Festival and PokerStars MEGASTACK. The Stars Group is one of the world’s most licensed online gaming operators with its subsidiaries collectively holding licenses or approvals in 21 jurisdictions throughout the world, including in Europe, Australia, and the Americas. The Stars Group’s vision is to become the world’s favorite iGaming destination and its mission is to provide its customers with winning moments.

About Penn National Gaming:
Penn National Gaming owns, operates or has ownership interests in gaming and racing facilities and video gaming terminal operations with a focus on slot machine entertainment. The company operates 41 facilities in 19 jurisdictions. In total, Penn National Gaming’s facilities feature approximately 50,500 gaming machines, 1,300 table games and 8,800 hotel rooms. The company also offers social online gaming through its Penn Interactive Ventures division and has leading customer loyalty programs with over five million active customers.

Cautionary Note Regarding Forward Looking Statements and Other Information
This news release may contain forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements can, but may not always, be identified by the use of words such as “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “intend”, “could”, “might”, “would”, “should”, “believe”, and similar references to future periods or the negatives of these words and expressions. These statements are based on management’s current expectations and are subject to a number of risks, uncertainties, and assumptions. Examples of these statements include, but are not limited to, statements regarding the expected benefits to be achieved as a result of the market access agreement referenced in this news release, the passage of applicable legislation related to online betting and gaming, the inclusion of applicable market access or skins in any such legislation and The Stars Group’s ability to operate online betting or gaming profitably in these states, or otherwise. There can be no assurance that actual results will not differ materially from those expressed or implied in forward-looking statements. Undue reliance should not be placed on forward-looking statements. Please refer to The Stars Group’s most recent annual information form and annual and interim financial statements and management’s discussion and analysis for more information about the factors, assumptions and risks that may apply to The Stars Group’s forward-looking statements. Each forward-looking statement speaks only as of the date hereof, and The Stars Group undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law.

Source: The Stars Group

Gambling in the USA

Gaming Americas Weekly Roundup – November 4-10

Published

5 days ago

November 12, 2024

Niji Narayan

Reading Time: 2 minutes

Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

Latest News

PENN Entertainment and ESPN announced that account linking between ESPN BET and ESPN is now available for customers, creating an even more deeply integrated media and betting experience. By linking accounts, fans now have the ability to seamlessly track upcoming, live and settled bets within the ESPN app and on ESPN.com. With this product enhancement, ESPN BET will soon bring fans more personalised bets and timely promotions based on their favourite sports, teams, players and fantasy rosters.

Accel Entertainment Inc. has announced that it has completed the acquisition of 85% of the ownership interests of Toucan Gaming LLC and LSM Gaming LLC, two Louisiana-based route operators and owners of multiple licensed video poker establishments (collectively, “Toucan”), for approximately $40 million. The combined business will operate as Toucan Gaming throughout Louisiana and will be led by Stan Guidroz, an industry-leading gaming executive and current CEO of Toucan Gaming. Mr. Guidroz owns the remaining 15% of Toucan’s ownership interests and will lead the Accel team supporting Toucan’s continued growth.

INTRALOT S.A. has announced the undertaking of a new project between the British Columbia Lottery Corporation (BCLC), the sole lottery operator for the Government of British Columbia in Canada, and INTRALOT, its US subsidiary, for the provision of an online lottery platform. The project also includes the digitalisation of the existing land-based network. The solution will be based on the Player X platform, part of the Lotos X ecosystem, and adds to the company’s overall partnership with BCLC, which has been extended until 2028.

BetMGM Poker has become the third US operator to offer multi-state online poker. The company has merged its player pools in Michigan and New Jersey. Both states are a part of the Multi-State Internet Gaming Agreement, which allows online poker networks to share liquidity and players in participating markets. The two-state network went live Wednesday afternoon after morning maintenance.

Betsson Group has celebrated its success at the SBC Awards Latinoamérica 2024, winning two prestigious awards: Sportsbook Operator of the Year and Leader of the Year, which was awarded to Kevin Saliba, Commercial Director (Business Development) for Latin America. This marks the second consecutive year Betsson has earned the Leader of the Year accolade, following Andrea Rossi’s win in 2023 – an achievement that underscores Betsson’s consistent leadership in the region.

Partnerships

Play’n GO has announced a new operator partnership with renowned gaming brand Hard Rock Digital for their top-rated Hard Rock Bet online casino platform in New Jersey. The Hard Rock brand is synonymous with entertainment worldwide, and this partnership will see Hard Rock Bet players in New Jersey gain access to hit Play’n GO titles such as Piggy Blitz, Book of Dead and Rise of Olympus 100.

SCCG Management, a global leader in gaming innovation and advisory, has announced a strategic partnership with Chata.AI, a technology provider specialising in self-service, proactive analytics that enables businesses to access real-time insights without requiring extensive technical expertise. This partnership introduces Chata.AI’s technology to the gaming industry, providing operators with powerful tools to streamline decision-making and increase operational efficiency.

Gambling in the USA

Gaming Americas Weekly Roundup – October 28-November 3

Published

2 weeks ago

November 4, 2024

Niji Narayan

Reading Time: 2 minutes

Latest News

Elray Resources Inc. has announced a significant milestone in the company’s growth strategy. The company has completed the sale of proprietary technology to 180 Life Sciences Corp. (NASDAQ:ATNF), a NASDAQ-listed company in exchange for preferred stock convertible into a 40% stake in ATNF and warrants to purchase 3 million shares of ATNF common stock, the conversion/exercise of which is subject to stockholder approval. The technology stack contained within Elray’s technology package will assist ATNF in launching an iGaming Blockchain casino.

PrizePicks, the largest daily fantasy sports operator in North America, has announced that it has been awarded Daily Fantasy Sports Operator Licenses in Delaware and Missouri. The company will launch Arena, its innovative peer-to-peer fantasy sports contest, in both states. With these new state launches, Arena will now be available in 15 states across the US.

The Pennsylvania Gaming Control Board (Board) unanimously voted to renew the Category 2 stand-alone casino license of Wind Creek Bethlehem LLC, operator of Wind Creek Bethlehem casino in Northampton County. In making the decision, the Board determined that Wind Creek Bethlehem LLC had fulfilled the obligations under its previously approved casino operator’s license and therefore qualified to have its license renewed for an additional five-year period.

Aristocrat announced that the company was the first international slot and online technology company to be granted a Gaming-Related Vendor license by The General Commercial Gaming Regulatory Authority (GCGRA), the federal entity overseeing commercial gaming activities in the United Arab Emirates (UAE). This announcement grants Aristocrat the ability to provide the company’s land-based electronic gaming machines (EGMs) and online games and technology solutions to commercial gaming operators licensed by the GCGRA.

Partnerships

SCCG Management, a leading global advisory and consulting firm in the gambling industry, has entered into a strategic partnership with Slot Machines Unlimited, a premier provider of refurbished slot machines and gaming equipment. The partnership between SCCG Management and Slot Machines Unlimited leverages both companies’ strengths: Slot Machines Unlimited’s expertise in refurbished gaming equipment and SCCG’s deep industry insight, global network and strategic growth capabilities. The collaboration will enhance Slot Machines Unlimited’s international sales and service operations, ensuring gaming establishments worldwide have access to high-quality slot machines and support.

Galaxy Gaming Inc. has announced that the Galaxy Operating System (GOS) is now live on over 50 ships worldwide with Carnival Corporation & PLC, the world’s largest leisure travel company. Since the installation, tables powered by GOS have awarded over $5 million in jackpot payouts to players. GOS is the jackpot progressive system for all Carnival Corporation ships, including Carnival Cruise Line, Holland America Line and Princess Cruises. Launched in 2024, GOS is the next-generation game management system developed by the industry’s leading table game experts.

The hottest new game from Aristocrat Gaming, Phoenix Link, is now live on casino floors, with Yaamava’ Resort & Casino being the first in North America to offer the highly-anticipated game. As the next evolution of the international hit game, Dragon Link, Phoenix Link features player-favourite mechanics from top games with all-new themes, features and bonuses.

Gambling in the USA

Gaming Americas Weekly Roundup – October 21-27

Published

3 weeks ago

October 28, 2024

Niji Narayan

Reading Time: 2 minutes

Latest News

Bally’s Interactive, the digital and sports betting division of Bally’s Corporation, announced the official launch of the Bally Bet Sportsbook app in Tennessee, marking its expansion into the tenth state. This milestone comes on the heels of recent successful Bally Bet launches in Massachusetts and Maryland. Sports enthusiasts across the Volunteer State can now revel in the comprehensive offerings of the Bally Bet sportsbook app. With a wide array of betting options, including spread, money line and total bets, as well as in-game betting and same game parlays, Tennessee sports fans will have an unparalleled wagering experience.

ESE Entertainment Inc., a gaming company that provides a range of services to leading video game developers and publishers, has announced that it has acquired Bombee Global Entertainment (Bombee Americas), the North American arm of Bombee Event Production AB, (Bombee), a global production company specialised in live production, special effects, broadcast and event management for the gaming sector. Bombee has successfully collaborated with ESE to bring its premier event production services and world class customer service to North America and beyond. The North American arm of Bombee, Bombee Americas, will continue to grow and scale in this new organisational structure under ESE, while maintaining its entire team and global support.

Matthew Wantman has become the overall champion of the PokerGO Tour PLO Series II presented by PLO Mastermind. Wantman secured the prestigious honor after an impressive showing at PokerGO Studio in Las Vegas, outperforming a talented field of the best PLO players in the world to earn the $10,000 PGT Passport bonus. The PGT PLO Series II featured a series of high-stakes pot-limit Omaha tournaments. Wantman’s consistent performance set him apart from the competition and solidified his spot atop the leaderboard.

Partnerships

SYNOT Games has announced its further expansion into the Colombian market through a partnership with BetPlay. This alliance highlights SYNOT Games’ commitment to increasing its presence in Latin America and providing its engaging and innovative games to a wider audience. Through this partnership, BetPlay’s online platform will feature a curated selection of SYNOTGames’ top-performing titles, including fan favourites like Aztec Jaguar, Diamond Fever, Realm of Lions.

Internet Sports International, a global provider of turnkey race and sportsbook software solutions, announced its partnership with the We-Ko-Pa Casino Resort in Fort McDowell, Arizona. Through this consultancy, ISI is powering the casino’s sportsbook and retail sports wagering operations on its gaming floor with its award-winning system. WKP Sportsbook is currently operating, allowing patrons to elevate their excitement by wagering on their preferred sporting events with up-to-the-minute odds and live action. The automated sportsbook kiosks provide access to a wide range of sports propositions for both the beginner and expert bettor.

Aristocrat Gaming, a leading designer, manufacturer and distributor of regulated slot games, announced it is now a promotional partner for Princess Cruises, one of the world’s most iconic cruise lines. Through this exciting collaboration, Aristocrat Gaming will design innovative gaming experiences for guests onboard Princess ships as well as create promotions with land-based casinos that offer Princess cruises as rewards.