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State of the Union: Entain, New Jersey, Penn National Gaming and more

Insight | Analysis

This week’s State of the Union, in partnership with Segev LLP, includes developments in DraftKings’ proposed acquisition of Entain, as well as landmark sports betting results in New Jersey.

Entain extends “put up or shut up” deadline for DraftKings talks

The London Stock Exchange’s Panel on Takeovers and Mergers has granted Entain’s request to extend the deadline by which prospective suitor DraftKings must submit a firm bid for Entain following a £16.40bn (€19.23/$22.40bn) takeover proposal last month.

With the deadline on DraftKings’ 2,800-pence-per Entain-share takeover proposal expiring today (19 October), the Takeover Panel has now given the US giant until 16 November to make a follow up proposal. This so-called “put up or shut up” deadline can be extended further by Entain’s board, with the panel’s consent.

New Jersey sets $1.0bn sports betting handle record in September

New Jersey smashed its sports betting handle record in September as consumers wagered more than $1.0bn, while the US state also saw its total gambling revenue for the month jump 40.3% year-on-year.

Overall gambling revenue in September amounted to $453.6m, up from $323.3m in the corresponding month last year and 6.1% higher than $427.7m in August this year.

Penn National Gaming completes theScore acquisition

Penn National Gaming has closed its US$2.0bn cash-and-stock acquisition of Canada-based operator theScore.

Penn announced the deal in August, revealing that it planned to migrate Penn’s betting products to a platform currently being built by theScore.

Foxwoods and DraftKings launch online betting and igaming in Conencticut

Mashantucket Pequot Tribal Nation-operated Foxwoods Resort Casino and DraftKings have officially launched online sports betting an casino in Connecticut.

This comes after a successful soft launch of igaming and sports betting in the state which has been ongoing since last week.

Scopely to acquire GSN Games from Sony for $1bn

Mobile social gaming business Scopely has agreed to acquire GSN Games, a division of the Game Show Network, from Sony Pictures Entertainment for $1bn £728.4m/€860.6m).

Of the $1bn purchase price, half will be paid in cash and the other half in equity of Scopely.

Bet365 partners with NBA’s San Antonio Spurs with new free-to-play game

UK-based operator Bet365 will partner with the NBA’s San Antonio Spurs to create a new free-to-play game for fans.

The game – Call your shot – will launch on October 20, as the NBA season begins, on and the franchise’s social media channels.

Online growth drives Pennsylvania gaming revenue up 45.6% year-on-year

Pennsylvania recorded gaming revenue figures of $415.7m for September, representing a 45.6% increase on the same period last year.

Parx Casino was the best performing casino, generating $57.2m. Penn National’s Hollywood Casino was next with $55.9m, followed by Rivers Casino Philadelphia with $47.9m. Philadelphia’s Live! Casino recorded revenue of $19.6m, after having only opened earlier this year.

Michigan reports record gross gaming receipts in September

Gaming operators in Michigan have reported a record total of $126.1m in internet gaming and sports betting receipts for the month of September.

Online gaming receipts generated $102.4m of the total, up 5.4% from the previous record of $97.2m recorded in August.

RSI launches in Canada with sportsbook and social gaming platform

Rush Street Interactive (RSI) has announced that it is entering Canada by launching its social gaming and sportsbook platform Casino4Fun in the province of Ontario.

Casino4Fun will be available on the site.

Betway receives licenses in Iowa and Poland

Betway operator Super Group has announced the brand has received two new licenses – in the state of Iowa, and in Poland.

The operator has already gone live in Iowa, which joins Colorado, Indiana, New Jersey and Pennsylvania as states in which Betway is active. The brand has also secured market access in six other states.

CT Lottery’s PlaySugarHouse online sportsbook fully launches in Connecticut

The Connecticut Lottery Corporation, in conjunction with US operator Rush Street Interactive (RSI), has announced the launch of the PlaySugarHouse online sportsbook across the entire state today (19 October).

PlaySugarHouse will be the official sportsbook of Connecticut Lottery, boasting 24/7 availability for players aged 21 and over.

Sauk Suiattle Tribe and Washington regulator reach sports betting agreement

The Washington State Gaming Commission has reached a tentative agreement with the Sauk Suiattle Indian Tribe to amend the Tribe’s Cass III gaming compact to allow sports betting.

The Darrington-based tribe joins a long list of tribes that have recently been permitted to offer sports betting, including the Tulalip Tribes, the Skokomish Indian Tribe and the Suquamish Tribe.

NFL partners National Council on Problem Gambling for awareness program

The National Football League (NFL) has made a multi-million-dollar commitment to the National Council on Problem Gambling (NCPG) as part of a new league-wide responsible betting public awareness program.

Designed to educate fans about betting on sports responsibly, the campaign will focus on the tagline ‘Stick to Your Game Plan. Always Bet Responsibly’, encouraging fans to only gamble with licensed operators and make use of after betting tools.

World Poker Tour adds real-money igaming with Game Play Network content

World Poker Tour (WPT) has added real-money gaming to its online offering through a partnership with Game Play Network (GPN).

WPT will see its suite of online poker and social gaming products bolstered by the addition of Los Angeles-headquartered GPN’s real money video poker, casino games and poker tournaments.

FanDuel appoints Hooper as first general manager for Canada

Flutter Entertainment-owned FanDuel Group has appointed Dale Hooper to the newly created position of general manager for Canada.

In the role, Hooper will be responsible for developing and implementing FanDuel’s long-term strategy in Canada, in keeping with the nation’s regulatory and legalization process within each province.

Butler National acquires remainder of Boot Hill Casino Manager for $16.4m

Gaming management service Butler National Corporation has acquired the remaining stake in casino resort company Boot Hill Casino Manager (BHCMC).

This means that Butler is now the sole owner of BHCMC, which manages the Boot Hill Casino and Resort in Kansas.

SIS announces two new board appointments to support US growth

Live betting service and content provider Sports Information Services (SIS) has appointed two new non-executive directors as it prepares to tackle the US market.

The appointments come days after SIS announced the launch of its new subsidiary, SIS Content Services, in the US to target market growth.