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State of the Union: theScore, Las Vegas Sands, Caesars and more

Insight | Analysis

This week’s State of the Union, in partnership with Segev LLP, includes a market exit from one sports betting brand, as well as Las Vegas Sands’ continued investment in the online sector and monthly results from Virginia and Arizona.

theScore to exit US market

Canada-based online betting brand theScore Bet will exit the US market on July 1 in order to focus only on Canada while Penn National Gaming will lead with the Barstool brand in the country.

Benjie Levy, president and chief executive of theScore, said that parent company Penn National Gaming – which acquired theScore last year – planned to focus on the Barstool brand in the US and theScore in Canada, where its brand is stronger.

Las Vegas Sands commits to Huddle Tech investment

Integrated resort developer Las Vegas Sands has made a strategic investment in Huddle Tech Inc., the technology provider formed by the recent merger of Huddle Gaming and DeckPrism Sports.

The legacy Huddle Gaming business offered automated solutions for trading, odds feeds and risk management to igaming operators, while DeckPrism provided in-play odds for markets covering major competitions such as the National Football League, National Basketball Association, Major League Soccer and the National Hockey League.

Caesars launches new horse racing betting app in Florida and Ohio

The Caesars Sportsbook division of Caesars Entertainment and NYRA Bets, the official online wagering platform of the New York Racing Association (NYRA), have launched a new horse racing account wagering mobile app in Florida and Ohio.

Caesars Racebook will use the NYRA Bets platform to provide customers with pari-mutuel wagering on horse racing content from more than 250 tracks around the world.

GiG signs first US deal since Sportnco merger with Maryland’s Crab Sports

Sports betting and igaming provider Gaming Innovation Group (GiG) has announced a head-of-terms agreement with US sports betting brand Crab Sports.

The deal with Crab Sports – which will focus on the state of Maryland – marks a major milestone since GiG acquired Sportnco in April, being the first US-facing deal for the business post-merger.

BCLC expands into Saskatchewan

The British Colombia Lottery Corporation (BCLC) is to expand the reach of its online gambling platform into the Saskatchewan province.

Under a deal with both the Saskatchewan Indian Gaming Authority (SIGA) and SaskGaming, will offer players in Saskatchewan access to over 400 casino, live casino, poker and sports betting products.

Virginia sports betting revenue and handle up year-on-year in April

The Virginia Lottery reported a year-on-year increase across both sports betting revenue and handle in the state during April.

Player spending for the month amounted to $399.5m (£320.4m/€374.2m), up 65.0% from $236.4m in April of last year, but down 14.9% from $469.5m in March this year.

Churchill Downs Incorporated names Katherine Armstrong SVP of HR

Churchill Downs Incorporated (CDI) announced today that Katherine Armstrong has been chosen as its new senior vice president of human resources after the previous holder of the role, Chuck Kenyon, announced his retirement.

Armstrong’s promotion is the latest in a string of recent personnel changes for the Louisville-based gaming company, following the recent ascension of Nate Simon to chief technology officer.

Arizona smashes sports betting handle record in March

Consumers in Arizona wagered a record $691.0m (£552.2m/€647.1m) on sports in March, while gross revenue climbed 52.5% month-on-month.

The state’s monthly handle surpassed the previous record of $563.7m set in January of this year, while the March total was also 41.5% more than $488.3m in February.

Sportradar appoints Conrad to new senior North American role

Sportradar has appointed Eric Conrad to the newly created role of managing director of strategic partnerships and content for North America.

Reporting directly to chief commercial officer Eduard Blonk, Conrad will build upon the foundation established by the US Sports Content and Partnerships (SCP) team.

Allwyn SPAC merger pushed back to Q3

The planned merger between lottery operator Allwyn and special purpose acquisition company (SPAC) Cohn Robbins – which would take Allwyn public on the New York Stock Exchange – has been pushed back from the second quarter of this year to the third.

Allwyn announced the deal in January, and said that the listing would result in a total enterprise value of approximately $9.3bn (£6.9bn/€8.2bn). At the time, it expected the merger to be complete in the second quarter of 2022.

Three sentenced for illegal gambling operation in Michigan

Three people have been sentenced for their role in running Spin City, an illegal gambling operation, in Flint Township Michigan.

Three people have been sentenced for their role in running Spin City, an illegal gambling operation, in Flint Township Michigan.

BetVictor secures Ontario licence

BetVictor has become the latest online gaming operator to secure a licence in the Canadian province of Ontario.

Issued to BV Gaming, the parent company of BetVictor, the licence will enable the operator to offer online sports betting and casino games to consumers.