This week’s State of the Union, in partnership with Segev LLP, covers yet more US M&A activity, as Twin River acquires the Bally’s brand from Caesars Entertainment. This week’s edition also covers the latest revenue figures from Iowa, Indiana, Michigan and New York.
Twin River acquires Bally’s brand from Caesars
Twin River Worldwide Holdings is to rename a number of its properties after acquiring the Bally’s brand from Caesars Entertainment.
The brand, described as “iconic” by the operator, will allow it to retain the Bally’s brand at the Atlantic City property it acquired from Caesars and real estate investment trust Vici Properties for $25m in April this year.
Furthermore, the brand and logo will now be rolled out across multiple properties across the US. Exactly which properties will rebrand as Bally’s venues have not been revealed, while the financial terms of the deal have not been disclosed.
Indiana sets records for handle and revenue in September
Indiana set records in betting handle and revenue in September, as the return of the NFL helped sportsbooks in the Hoosier state to their most successful month to date.
Amounts wagered soared almost 500% year-on-year to $207.5m, with adjusted gross revenue growing 66.8% to $14.3m. This in turn led to a record monthly tax take, of $1.4m.
Players staked $173.1m online – another new record – and $34.4m in person.
Rush Street Interactive names Sauers as new finance chief
Rush Street Interactive (RSI), the betting and igaming arm of the land-based operator, has appointed Kyle Sauers as its new chief financial officer, with effect from October 23.
Based in Chicago, Michigan and reporting to RSI’s chief executive Greg Carlin, Sauers will be responsible for all financial and treasury functions, as well as investor relations.
Iowa sportsbooks set handle record, bring in $5.2m in Sept
Iowa sports betting revenue grew to $5.2m in September as the state broke its record for amounts wagered in a month.
The month marked the first time that year-on-year comparisons were available. This revealed that revenue was up 4.8% from September 2019, the first full month of legal sports betting in Iowa, and 72.1% from August this year.
Michigan sports betting revenue reaches $4.4m in September
Revenue for Detroit’s three commercial casinos rose 26.8% month-on-month in September, with retail sports betting’s contribution hitting $4.4m in its first full month of activity.
The Michigan Gaming Control Board also released figures for the first full month of sports betting. While retail betting launched in the state on March 11, properties were forced to close just days later due to the state going into lockdown due to novel coronavirus (Covid-19), and not reopening until August 5.
NY sports betting revenue falls 38.5% following September relaunch
New York’s four commercial casinos generated sports betting revenue of $1.4m after reopening on September 9, once the state’s novel coronavirus (Covid-19) lockdown measures were eased.
The total for the 22 days to 30 September represents a 38.5% decline from the sports betting revenue of $2.3m posted for the full month in 2019.
William Hill opens new retail sportsbook in Pennsylvania
William Hill has further expanded its presence in the state of Pennsylvania by opening a new retail sportsbook at Harrah’s Philadelphia in Chester County.
The full-service sportsbook will feature six ticket windows, 16 self-service betting kiosks and a wagering menu with in-play betting.
IGT customers gain access to NBA IP through new deal
International Game Technology (IGT) has entered into a multi-year partnership with the National Basketball Association (NBA).
Under the agreement, IGT customers in the US using its PlaySports sports betting solution will be permitted to use NBA intellectual property in their sportsbooks through an agreement with IGT.
BetMGM expands igaming offering with SG and BetGenius deals
BetMGM, the betting joint venture between MGM Resorts and GVC Holdings, is to expand its igaming and sports betting offering after extending partnerships with Scientific Games and BetGenius.
Under the agreement with Scientific Games, BetMGM will roll out the supplier’s OpenGaming product suite, including the Open Gaming System (OGS) content aggregator, incorporating in-house content and third-party games.
PointsBet first US sign-up for Betgenius streaming solution
PointsBet has expanded its partnership with Genius Sports Group to take delivery of its streaming service, which will now be rolled out across the states in which its sportsbook is live.
The deal sees PointsBet become the first US operator to sign up for the streaming solution, delivered through the supplier’s Betgenius subsidiary. This will allow local players in New Jersey, Iowa, Indiana, Illinois, Michigan and Colorado to view live streams of sporting events via the PointsBet app and website.
ALC 2019-29 revenue down 5.1% as Covid-19 impacts sales
Canadian lottery operator Atlantic Lottery reported revenue of CAD$725.5m (USD$523.3m), down 5.1%, for the fiscal year ended 31 March, as lower jackpots and the impact of the novel coronavirus (Covid-19) contributed to a decline in revenue and profit.
ALC’s revenue was 5.7% below target for the year, and came on total sales of $1.18bn.
Simplebet agrees Intralot integration to extend reach
Sports betting technology start-up Simplebet has agreed to integrate its proprietary Micro-Markets betting range with Greek lotteries and gaming giant Intralot.
Simplebet’s technology uses machine learning and automation, allowing operators to offer bets on every moment of a sporting event. It is underpinned by a pricing engine that powers the market mechanics of each market and odds for each selection.
MGM offers $750m in unsecured notes to help refinance debts
Land-based giant MGM Resorts will offer $750m in unsecured senior notes to be repaid in 2028 to help it refinance its existing debts.
The operator announced a $500m notes offering yesterday (8 October), before today announcing the offering had been upsized to $750m.
BetMGM expands igaming offering with SG and BetGenius deals
BetMGM, the betting joint venture between MGM Resorts and GVC Holdings, is to expand its igaming and sports betting offering after extending partnerships with Scientific Games and BetGenius.
Under the agreement with Scientific Games, BetMGM will roll out the supplier’s OpenGaming product suite, including the Open Gaming System (OGS) content aggregator, incorporating in-house content and third-party games.
Loto-Québec suspends further land-based activities
Canadian provincial lottery operator Loto Québec has suspended gaming activities at more of its land-based venues, including the Casino du Lac-Leamy and the Casino Charlevoix, in response to rising levels of novel coronavirus (Covid-19) in the region.
On Sunday October 11, the Casino du Lac-Leamy closed, along with its restaurants, and was followed by the closures of video lottery machines (VLTs) in the city of Gatineau and in the municipalité régionale de comté (MRC) des Collines-de-l’Outaouais.
Evolution announces US-wide partnership with William Hill
Live casino supplier Evolution has entered into a partnership with William Hill for the supply of live casino content and services across the US.
The deal covers the whole nation and will begin with the rollout of live casino for the operator in New Jersey, streamed from Evolution’s Atlantic City studio. Additional states will be added in the future.
DraftKings expands NetEnt partnership into PA and WV
NetEnt is to expand its partnership with DraftKings to cover the operator’s online casinos in Pennsylvania and West Virginia.
The two will now collaborate in at least two more states following the success of their initial link-up in New Jersey, which went live in August 2019.
Aristocrat partners Las Vegas Raiders NFL franchise
Gaming group Aristocrat Technologies has become an official partner of the NFL’s Las Vegas Raiders and its Allegiant Stadium, the new 65,000-capacity arena in Nevada.
The US-facing gaming machine supplier and digital content provider will have prominent signage throughout Allegiant Stadium year-round, including in-stadium and in-game branding and naming rights to the Owners East Club.
Esports Entertainment partners LA sports franchises
Esports betting operator Esports Entertainment Group has entered into a new partnership with AEG, the sports and entertainment business that owns major league sports franchises the LA Kings and LA Galaxy.
Under the agreement, Esports Entertainment will become the official esports tournament provider for National Hockey League (NHL) team the LA Kings and Major League Soccer (MLS) club LA Galaxy.
Tipico partners Century for Colorado launch
German sports betting operator Tipico will launch sports betting in Colorado, after striking a ten-year partnership with Century Casinos.
Tipico will follow Circa Sports and Bet365 as the third partner of Century, which has already obtained a master license to operate in the state. It will now need to obtain a licence of its own before it can launch in Colorado.
GAN rolls out simulated sports betting with Jack Entertainment
GAN has launched a simulated internet sports betting experience for Jack Entertainment in Ohio, in anticipation of the state legalizing real-money sports wagering.
The new free-to-play offering would be available via PlayJACK.com, the site powered by the supplier’s free-play Simulated Gaming solution. This was facilitated through a partnership agreed in September last year, which will see GAN power the operator’s expansion into real-money online verticals as regulation permits.
Hawthorne Race Course partners with Virtual Live Racing
Chicago’s Hawthorne Race Course has introduced a new pari-mutuel based product line through a partnership with virtual sports software developer Virtual Live Racing (VLR).
The deal has seen VLR create a virtual version of the race course, for inclusion in its virtual racing products. The games allow customers to bet on virtual races based on past data recorded at the track, rather than using random number generators to determine results.
NetEnt grows Pennsylvania presence with Cordish launch
NetEnt has expanded its presence in the Pennsylvania market by rolling out its content with PlayLive!, the new online casino run by Cordish Gaming Group, the global gaming arm of real estate and entertainment business Cordish Company.
Under the agreement, PlayLive! customers will have access to NetEnt’s online casino and table games, including slot titles Starburst, Gonzo’s Quest and Divine Fortune.
Planet Hollywood reopens in Las Vegas
Caesars Entertainment has reopened its Planet Hollywood Resort & Casino, in accordance with directives from state governor Steve Sisolak and the Nevada Gaming Control Board.
Daily gaming operations and hospitality operations for weekend stays have resumed, as Planet Hollywood becomes Caesars’ latest property to reopen, following Caesars Palace, the Flamingo , Harrah’s, Paris , Bally’s and The LINQ Hotel + Experience.
PGA Tour to integrate BetMGM odds into telecast
Golf’s PGA Tour is to integrate live betting odds from BetMGM into a television broadcast of one of its events for the first time.
The PGA Tour, the organizer of the leading men’s golf tournaments in North America, will feature the odds during all four rounds of The CJ Cup @ Shadow Creek in Las Vegas, Nevada, October 15-18 on the Golf Channel.