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BET99 hits ‘significant milestone’ in Canada with Simplebet

BET99 has moved to enhance its offerings in Canada through a new partnership with micro-betting firm Simplebet.

The multi-year deal will see the partners provide ‘innovative and high-quality sports betting options’ to the Canadian market, with the Sports Venture Holdings (SVH) subsidiary leveraging Simplebet’s advanced API odds feed.

This will enable BET99 to provide an extensive range of micro markets, including major sports leagues such as MLB, NBA and NFL.

The multi-year collaboration also covers college football, which Simplebet recently announced would be getting an expansion of its offerings ahead of the new season.

Chris Bevilacqua, CEO of Simplebet, commented: “At Simplebet, we’re dedicated to transforming the sports betting landscape through innovative technology. Partnering with Bet99 aligns perfectly with our mission, and we look forward to delivering unique micro market experiences that will captivate Canadian sports enthusiasts.”

For BET99, meanwhile, the deal marks a ‘significant milestone’ as it relaunches its sportsbook platform in collaboration with Amelco, which also has a micro-betting partnership with Simplebet.

“We’re thrilled to engage with Simplebet to bring a new level of engagement to our customers,” said Jared Beber, CEO of BET99.

“This collaboration will enhance our offerings and provide our users with a more dynamic and interactive sports betting experience.”

Rivalry sets 2024 financial target amid Q2 ‘challenges’

Despite posting a net loss of $6.3m in Q2, Rivalry is looking ahead to the future positively with the expectation of becoming profitable in H1 2024.

Publishing its financial results for the three and six-month periods ended June 30 earlier this week, the Toronto-based esports, sports betting and media firm reported a 1% increase from the net loss of $6.2m it recorded in Q2 2022.

According to Rivalry, this can be attributed to a ‘select number of low probability esports and sports outcomes, alongside unique behavioral betting habits from Gen Z users’, which caused increased margin volatility and negatively impacted revenue, which combined with several one-time expenses expanded the company’s net loss.

On a more positive note, though, betting handle in Q2 was $112.2m, up $73.8m (192%) YoY (Q2 2022: $38.4m), with casino contributing $57.5m of the total in a traditionally slow quarter for esports.

Steven Salz, Co-Founder and CEO of Rivalry, commented: “In Q2 we delivered a nearly three-fold increase in handle year-over-year.

“Increased marketing sophistication and enhancements to our core product have led to operational improvements, increased player wallet share, and a material year-over-year reduction in cost of customer acquisition, positioning us well in the coming quarters.

“The growing strength in these underlying fundamentals continues to validate Rivalry’s global brand leadership in esports betting, and more broadly, in delivering a world class online gambling experience for the next generation of fans.”

Meanwhile, Rivalry reported revenues of $8.5m in Q2, a record result for a second quarter, representing an increase of $3.2m (60%) YoY (Q2 2022: $5.3m).

Furthermore, gross profit of $3.8m in Q2 was up $1.8m (86%) from $2.1m during the same period last year.

The company also continued to drive top-line growth to the business, including acquiring 44% more new customers YoY at a 41% lower cost of customer acquisition.

The betting behavior of Gen Z customers, though – one of the company’s core audiences – presented a problem during the last quarter, with higher margin volatility within sportsbook.

To combat this, Rivalry introduced an increase in higher margin product mix through the release of same-game parlays and upped its marketing efforts through various media channels to create more diversified betting across its product suite.

Salz explained: “Our position among young Millennial and Gen Z customers represents one of our greatest competitive advantages, but has also presented unique learnings regarding betting behaviors. Generally we experience higher margin volatility within the sportsbook among this demographic, which impacted revenue this quarter.

“That said, challenges like this come with our position at the bleeding edge of a demographic shift in online gambling, and it has also allowed Rivalry to learn more than other operators about what is needed to succeed among this coveted cohort. In the immediate term we have been tuning our operational initiatives to address normalizing margin and seeing early results. And to contextualize the upside potential of this work, at consistent industry average margins Rivalry would have been profitable in Q1 and Q2 this year against the betting handle we generated.

“With these ongoing adjustments being made based on our learnings, alongside the general benefits scaling handle through growth provides to margin, we expect to reduce volatility, positively impacting bottom-line results, and propelling us to profitability in the first half of next year.”

Looking ahead, Rivalry expects to reach profitability in the first half of next year – something previously alluded to in its Q1 results – driven through ‘consistent revenue growth, cost efficiencies, ongoing efforts to create a bespoke product, and brand entrenchment within internet culture and gaming’.

The firm also recently launched its new esports same-game parlay product, Same Game Combos, which enables users to combine multiple bets within a single match for a bigger payout.

This ‘groundbreaking’ product, touted as a first for the industry, isn’t the only new offering landing in the current quarter, however.

Salz added: “This feature, and others arriving in the third quarter, strengthens our position at the edge of technical and product innovation, and more broadly, our ability to continue delivering a market-leading betting experience catered to young Millennial and Gen Z consumers.

“We have barely scratched the surface of the feature set on our deep product roadmap, which we are confident will enable us to win this global generational opportunity in betting.”

Playgon Games posts substantial revenue growth in Q2 amid rise in wagers

Vancouver-based games developer Playgon Games has highlighted the upward trajectory of its business after publishing its financial results for the first half of 2023, which reveal substantial revenue growth.

The firm generated revenues of $413,388 from VegasLounge – its live dealer platform – for the three months ended June 30, representing a 90% year over year increase in Q2. That figure rises to 96% for the first six months of the year as Playgon Games generated revenues of $701,397 compared to $357,758 in the first half of 2022.

Wagering turnover for Q2 was $396m compared to $336m during the previous quarter, representing an increase of 18% QoQ. 10.2 million wagers were placed in the quarter, up from eight million in the previous quarter, reflecting a higher wager per bet in the system.

Average daily wagering turnover for the latest quarter was $4.4m compared to $3.71m in Q1, up 19% QoQ.

“We continue to see positive revenue growth in our Q2 supported by momentum in several KPI’s we track,” commented Darcy Krogh, CEO of Playgon Games.

“We expect this to accelerate in the second half of 2023 as we launch new clients in Ontario under our recent licence approval and other new markets globally.”

Playgon Gomes further reported net loss of $4.4m and $8.3m for Q2 and H1 respectively, which the firm maintains is ‘consistent from previous reporting periods’.

The company added that its investment in the live dealer platform and business will continue with a majority of costs associated to its development team and Las Vegas studio casino staff.

Elsewhere this month, Playgon Games was granted a license by the Alcohol and Gaming Commission of Ontario (AGCO) to supply approved igaming and sports betting operators with VegasLounge.

Commenting on its approval from Ontario’s gaming regulator, which arrived on the heels of Pariplay’s Fusion aggregation program integrating its online gaming suite, Krogh hailed the province as a “very attractive market for us to pursue”.

IGT makes multi-million pledge to support gaming’s next gen at UNB

IGT has pledged its commitment to help develop the next generation of talent for the gaming industry by agreeing a five-year partnership with the McKenna Institute at the University of New Brunswick (UNB).

According to McKenna Institute benefactor Frank McKenna, speaking at the announcement of the partnership last week, IGT will invest $3m in funding to fund the expansion of the university’s software curriculum.

This includes contributions towards technology, scholarships and the creation of two new faculty positions, as well as an Innovation Director role.

Furthermore, the three partners will work together to create research and educational opportunities in the subjects of AI, data science and gaming software and hardware platforms and automation

Renato Ascoli, CEO of Global Gaming at IGT, commented: “We’re excited to establish this strategic agreement between IGT, UNB and the McKenna Institute to fortify gaming technology, data science and artificial intelligence platforms at UNB.

“IGT’s strong commitment to New Brunswick takes an important step forward with our establishment of this significant research and educational partnership in the region.

“Our investment can greatly foster the development of a larger and more effectively aligned talent pipeline in gaming-related technologies.”

Dr. Paul Mazerolle, UNB’s President and Vice-Chancellor, added: “IGT’s investment in innovation will help UNB and the McKenna Institute establish New Brunswick as a national center for design in regulated gaming technologies. It will provide our students with increased opportunities to use AI and data science to develop knowledge and skills in a field that is in high demand.

“On behalf of everyone at UNB, I wish to thank IGT for its commitment to developing the next generation of talent for the gaming industry and beyond.”

AGCO makes athletes & celebrities call after Ontario igaming ads review

The Alcohol and Gaming Commission of Ontario (AGCO) has delivered its final verdict on the use of athletes in igaming adverts, revealing there will be an outright ban on the practice from next year.

In a significant reform of online gambling advertising standards, registered Ontario igaming operators will be prohibited from using athletes, whether active or retired, in igaming marketing and advertising, except for the exclusive purpose of advocating for responsible gambling practices.

The new restrictions will come into effect on Feb. 24, 2024, with further restrictions also placed on the use of celebrities, role models, social media influencers, entertainers, cartoon figures, and symbols that ‘would likely be expected to appeal to minors’.

This upgrades the previous threshold which merely prohibited the use of advertising and marketing content with a ‘primary appeal to minors’

The AGCO first announced its proposal to ban sports stars across online gambling ads in April, which was followed by months of speculation and consultations with various stakeholders including mental health and public health organizations, responsible gambling experts, gaming operators, broadcast and marketing groups, and the public.

OLG CEO Duncan Hannay, meanwhile, was a public proponent of the Commission’s review of online gambling advertising standards when speaking in June.

Addressing the update to the Registrar’s Standards for Internet Gaming, Tom Mungham, AGCO Registrar and CEO, explained: “Children and youth are heavily influenced by the athletes and celebrities they look up to.

“We’re therefore increasing measures to protect Ontario’s youth by disallowing the use of these influential figures to promote online betting in Ontario.”

The additions to the AGCO Standards for Internet Gaming are bolded below:

2.03 – Advertising, marketing materials and communications shall not target high-risk, underage or self-excluded persons to participate in lottery schemes, shall not include underage individuals, and shall not knowingly be communicated or sent to high-risk players. (Also applicable to Gaming-Related Suppliers)

Requirements – At a minimum, materials and communications shall not:

  1. Be based on themes, or use language, intended to appeal primarily to minors.
  2. Appear on billboards or other outdoor displays that are directly adjacent to schools or other primarily youth-oriented locations.
  3. Use or contain cartoon figures, symbols, role models, social media influencers, celebrities, or entertainers who would likely be expected to appeal to minors. [This requirement has been changed]
  4. Use active or retired athletes, who have an agreement or arrangement made directly or indirectly between an athlete and an operator or gaming-related supplier, in advertising and marketing except for the exclusive purpose of advocating for responsible gambling practices. [This requirement is new]
  5. Use individuals who are, or appear to be, minors to promote gaming.
  6. Appear in media and venues, including on websites, and in digital or online media, directed primarily to minors, or where most of the audience is reasonably expected to be minors.
  7. Exploit the susceptibilities, aspirations, credulity, inexperience or lack of knowledge of all potentially high-risk persons, or otherwise extoll the virtues of gaming.
  8. Entice or attract potentially high-risk players. Instead, measures shall be in place to limit marketing communications to all known high-risk players. [This requirement has been changed]

Elsewhere, it was recently announced that Dr. Karin Schnarr will take over as CEO and Registrar next month, following Mungham’s announcement earlier this year.

Matevž Mazij takes the helm as new Bragg Gaming Group CEO

There is a changing of the guard at Toronto-based Bragg Gaming Group despite a recent Q2 report with record positive results.

CEO Yaniv Sherman is stepping down effective immediately and Bragg’s Chairman of the Board, Matevž Mazij will assume the role.

“On behalf of the Board of Directors and the entire Bragg team, I would like to thank Yaniv for his leadership, commitment, and contributions to the Company,” said Holly Gagnon, Lead Independent Director of the Board. “The Board remains focused on supporting the Company’s senior management team as they continue to execute on initiatives that drive profitable growth and the creation of new, sustainable shareholder value. We are confident that as the founder and visionary of Oryx Gaming, the combination of Matevž’ signficant industry experience and deep knowledge of Bragg with the Company’s experienced senior leadership team favorably positions Bragg to continue successfully executing on our key strategic objectives and serve our valued customers and partners with excellence.”

Mazij owns 21% of all Bragg Gaming Group shares, which came in part from the company’s acquisition of his company, Oryx Gaming, in 2018.

“Following several years of serving on the Board, I am excited to return to an operational role to lead the Company towards continued top-line and cash flow growth,” said Mazij. “Bragg possesses many opportunities to further grow our scale of operations across North America, Europe and evolving global regulated iGaming markets. I look forward to working with senior management and all of our team members to bring fresh perspectives that can amplify our ability to continue our successful execution of the growth strategies that we established following the acquisitions of Wild Streak Gaming and Spin Games in 2021 and 2022, respectively.”

Per the release, the board opted for the change, “to ensure the optimal alignment of the best interests of the company and its stakeholders.”

Sherman assumed the post as Bragg Gaming Group CEO on July 1, 2022 after a long tenure at 888 Holdings.

Over the past year, Bragg has announced a long list of North American partnerships including a transatlantic deal with PokerStars and an Ontario partnership with bet365, both of which were announced this month.

 

Pickleball arrives on Ontario sports betting scene via PPA & FanDuel

The Pickleball revolution has now reached the Ontario sports betting market following an agreement between the Professional Pickleball Association (PPA) and FanDuel Sportsbook.

The sport – a cross between tennis, badminton and ping pong – has surged in popularity over recent years, with English Premier League powerhouse Liverpool FC even installing a specialised court at their training centre to entertain global superstars such as Mohamed Salah and Virgil van Dijk.

Now, fans across 11 US states and the Canadian province of Ontario have been given the opportunity to place wagers on PPA Tour events, which has become the first-ever pickleball organization available on the sports betting market.

“This is a monumental moment for the PPA Tour and the game of Pickleball as a whole,” said PPA Tour Founder and CEO Connor Pardoe. “We are excited to be paving the way in the Pickleball sports betting space, and we couldn’t be prouder to lead the sport’s leap into such an innovative industry.

“The immense growth of pickleball over the past few years has driven widespread interest in all aspects of the game, including playing as amateurs and watching the professionals in person at events and from home.

“Our venture into sports betting will bring a whole new level of engagement from current and new fans, and we continue to be excited for what the future holds for our sport.”

Pickleball’s first steps into the sports betting scene, meanwhile, came in 2021 via a partnership between the PPA and Genius Sports.

The data, technology and broadcast partner provides data and live video feeds to all participating sportsbooks and other online vendors, allowing bettors to engage with events in real time.

“Creating an official data-powered betting product for Pickleball, the fastest-growing sport in America, is a crucial platform for the PPA Tour to engage new and existing fans,” said Sean Conroy, Executive Vice President, North America at Genius Sports.

“We’re excited to offer sportsbooks with valuable new content including low latency video feeds on PPA Tour events, starting with this weekend’s Vulcan Kansas City Open.”

FansUnite CTO Hutchings to exit amid recent affiliate pivot

Jeremy Hutchings will leave his role as Chief Technology Officer (CTO) of FansUnite next month as the Vancouver-based betting and gaming firm switches focus to its ‘more profitable’ affiliate segment.

It’s been a busy first half of the year for FansUnite, which completed its multi-million non-brokered private placement in March before announcing two months later that it was focusing on ‘high growth opportunities’, following the $5m sale of sportsbook and online casino McBookie.

May also saw the sale of its Chameleon igaming platform, which was acquired by Betr for $7.45m, as CEO Scott Burton announced additional resources were being focused towards its highest revenue and margin business, such as Betting Hero and the affiliate business.

This week saw the completion of the company’s transition away from B2B platform licensing as it reached an agreement with DragonBet, a Welsh-based UK sportsbook, to migrate off the Chameleon gaming platform ‘on or about’ Sept. 3.

“We are pleased to have reached an agreement with DragonBet, which allows them to grow, and will enable us to achieve roughly $7.1m in cost-savings,” said Burton.

“These transactions advance our efforts of streamlining our business operations and put us in a position where we can expect to generate positive cash flow in Q4 2023.”

However, an increased focus on its affiliate segment, which contributed $23m of its $27.3m in revenue during FY2022, has led to the departure of CTO Hutchings.

Hutchings will step down from his role on Sept. 30 ‘to pursue other opportunities in response to the company’s new strategic focus on the more profitable affiliate segment’.

Burton added: “I would like to thank my co-founder Jeremy Hutchings for his contribution to FansUnite as he played an integral role during the early stages of the company and we look forward to watching his future success.”

FansUnite’s statement on Thursday added that Hutchings will be available to provide consulting on the company’s plans to monetize the source code of the Chameleon gaming platform through potential further sales of said code.

Hard Rock Hotel & Casino Ottawa calls on Jakob Chychrun to connect with Canadians

The future Hard Rock Hotel & Casino Ottawa has signed up Jakob Chychrun as its newest Community Ambassador ahead of an expected launch in 2025.

The NHL star, who was traded to the Ottawa Senators in March, will work with the Hard Rock team to promote local initiatives, including mental health programs.

It’s the latest milestone achieved by the company as it undergoes its two-year expansion of Rideau Carleton Casino into the Hard Rock Hotel & Casino Ottawa.

Construction on the $467m project began in June and is expected to finish in Spring 2025 with Rideau Carleton Casino – the site of the new facility – continuing to operate until the renovation and rebranding of the property is complete.

The new casino will include 1,500 slot machines, 40 live-action table games, a Hard Rock Sportsbook, high-limit gaming and a Baccarat room, while the tradition of horse racing at the site will also live on.

Helen MacMillan, General Manager, Rideau Carleton Casino, Future Hard Rock, commented: “We are excited to welcome Jakob to the Hard Rock family, especially now as momentum builds towards the opening of Hard Rock Hotel & Casino Ottawa in early 2025.

“Being from Boca Raton, Jakob really understands the Hard Rock brand, and looks forward to helping us introduce this world-class hospitality brand experience to more Canadians.”

Chychrun grew up in South Florida where Hard Rock International has its global headquarters, and his father, former NHLer Jeff Chychrun, was born near Ottawa in LaSalle, Quebec.

As ambassador, the defenseman will also support ‘money can’t buy experiences’, including appearances and participation in select VIP member experiences, such as dinners, golf games and other exclusive events.

“I am thrilled to partner with Hard Rock, a globally recognized entertainment brand, as they continue to shape the future of entertainment,” said Chychrun. “It’s a real privilege to join the Hard Rock International team of star athlete partnerships.

“The mutual work we are planning to undertake towards raising awareness of mental health initiatives is in perfect alignment with Hard Rock’s All is One and Love All-Serve All philosophies.

“It really is a win-win for the community.”

As his first act as Community Ambassador, Chychrun joined the Rideau Carleton Casino team last Saturday at a team member and VIP event, where he helped present a $10,000 cheque to the Alzheimer Society.

“As a new member of the Ottawa Senators organization, and someone with deep ties in the region, it is very important for me to build my local relationships with the community,” concluded Chychrun.

“I’m happy to have it start with Hard Rock.”

Rivalry breaks new ground with new esports offering

Esports betting platform Rivalry has announced the launch of Same Game Combos, its new esports same-game parlay product, marking a first for the industry.

Same Game Combos enables users to combine multiple bets within a single esports match for a higher potential payout, and features custom branding and animations including ‘unique’ visuals and interactive elements tailored to Millennial and Gen Z entertainment preferences.

The Toronto-based firm has found success in catering its products to Millennials and Gen Z’s, such as the eight casino games it launched in Ontario in March, and its latest offering is once again targeted at both groups, which represent 97% of its active users.

“Finding success among Millennial and Gen Z customers means being first to introduce new sports wagering experiences at the edge of technical and product innovation where this audience lives,” said Steven Salz, Co-Founder and CEO, Rivalry.

“Same Game Combos brings one of the most popular bets on the board to an audience of deeply engaged esports fans while extending Rivalry’s position at the vanguard of betting entertainment.”

Same Game Combos is available immediately to all Rivalry users globally, and for top League of Legends, Counter-Strike, and Dota 2 esports matches.

The product feature, made capable through data feeds provided by PandaScore, also lends itself to improved player acquisition and hold across Rivalry’s core esports betting offering, which accounted for over 90% of sportsbook handle in 2022.

“It’s important to add depth to our products and more options for our users,” added David King, Director of Product Design, Rivalry.

“We are building for an under-30 demographic that have high expectations for the entertainment products they consume.

“Delivering on that level of entertainment, while creating a meaningful user experience, adds material value to the Rivalry platform.”

Elsewhere, Rivalry debuted its new mobile betting app in Ontario in June off the back of a Q1 that saw significant growth for its revenue, betting handle and gross profit.