International Game Technology (IGT) has completed its acquisition of iSoftBet for €160m in cash in a move that will see the company more than double its digital content library.
IGT will take full control of the developer, whose content will expand the IGT PlayDigital catalogue to approximately 225 proprietary games. IGT’s interactive arm will also stretch its online casino inventory through the addition of iSoftBet’s proprietary-built aggregation platform, which will allow the company to distribute third-party games to clients.
iSoftBet’s data-led marketing and user engagement tools will also become accessible to IGT.
At the time of the announcement of the definitive agreement in April, IGT CEO Vince Sadusky said the acquisition of iSoftBet “will provide market-tested proprietary digital content, advanced game aggregation capabilities, scalable promotional tools, analytics, and strong creative talent to IGT’s PlayDigital operations.”
U.S. gaming giant Bally’s has been approved to launch in Ontario’s regulated online market after receiving a license from the Alcohol and Gaming Commission of Ontario (AGCO).
The licence will last for two years, expiring on June 29, 2024. It covers four distinct domain names – ballybet.ca, ballycasino.ca, ballysbet.ca and ballyscasino.ca, as well as the BallyBet mobile app.
Bally’s is not yet live in the province, as it must still executive an operating agreement with iGaming Ontario before it can officially get off the ground.
The company is the latest operator to get the green light from the AGCO, following other recent licensees such as PokerStars, SkillOnNet, and BetVictor.
Bally’s has a widespread land-based and digital gaming footprint in North America, owning and operating 14casinosacross 10 U.S. statesand has access to online sports betting licenses in 18 states. It also launched in the New York market this month.
It also owns Gamesys Group, a leading, global, online gaming operator, after completing an acquisition of the UK-based company in the fall of 2021.
As well as Gamesys, Bally’s owns sports betting platform Bally Interactive; Monkey Knife Fight, the fastest-growing daily fantasy sports site in North America; SportCaller, a leading, global B2B free-to-play game provider; and Telescope Inc., a leading provider of real-time fan engagement solutions.
The agreed sale of Light & Wonder’s OpenBet to Endeavor Group has been revalued at two-thirds of its originally proposed value.
The original terms agreed upon between Endeavor and Light and Wonder valued OpenBet at US$1.2 billion, but the two parties have now agreed to a new price for the sportsbook platform provider of US$800m, a 33 per cent decrease on the original value.
The filing did not provide a reason for the price drop, but deteriorating market conditions and falling stocks have affected valuations. Light & Wonder’s stock value has fallen 45 per cent since the announcement of the deal, while Endeavor has fallen 28 per cent.
Light and Wonder note that the amended fee is a “final step” to a streamlined portfolio, providing “a strong valuation in the current market” while increasing the speed and certainty of closing. The conditions for closing have been modified, with Endeavor agreeing to waive the closing condition requiring regulatory approval by the Nevada Gaming Control Board, if required.
The transaction, which will combine OpenBet with IMG Arena, Endeavor’s existing sports betting unit, is expected to close by the end of Q3 2022.
“Endeavor is the right partner for OpenBet and the amended agreement increases speed and certainty by creating a simplified path to closing the transaction while unlocking substantial benefits for OpenBet and Light & Wonder,” said Barry Cottle, President and CEO of Light & Wonder.
“The significant cash consideration from the OpenBet sale will enable us to further de-lever our balance sheet and achieve our targeted net debt leverage ratio range of 2.5x to 3.5x. This transaction is the final step in our journey to streamline our organization as we deliver on our promises as the leading cross-platform global game company.”
Light & Wonder’s statement added that the recently completed US$5.8 billion sale of its lottery business and the pending sale of OpenBet will cumulatively generate approximately US$5.6 billion of estimated net after-tax proceeds as L&W pursues its strategy of streamlining its business.
OpenBet has more than 75 global customers across markets such as the US, Canada, the UK, and Australia and works with 46 sportsbooks across 12 U.S. states and several Canadian provinces.
Toronto-headquartered Bragg Gaming and Kalamba Games have announced an extension of their existing distribution partnership that will see Kalamba distribute a selection of its games on Bragg’s Remote Game Server (RGS) in regulated North American markets including Ontario and several U.S. states.
Kalamba and Bragg’s ORYX Gaming originally partnered in 2017 through an agreement which resulted in Kalamba launching its iGaming content on the ORYX RGS in multiple global markets. Kalamba is one of a number of content development studios with whom Bragg has extended its strategic content licensing deal for distribution in the U.S.
Kalamba’s content is now live with over 400 leading operators via its own Bullseye RGS platform as well as via third parties.
“We’ve enjoyed a successful partnership with Kalamba over the last five years as their iGaming content has proven to be in demand with players,” said Bragg Gaming Group president Americas Kent Young. “ We are pleased to now be able to leverage our data-driven insights into player preferences to strategically introduce Kalamba titles to expand the scope of content we offer across North America. These key insights provide us with the confidence that this expanded agreement will be a key driver of our growth strategy to expand our presence with players across the region.”
Kalamba Games chief commercial officer Andrew Crosbyadded: “We are focused on continuing the incredible growth that we have seen this year and our entry into the regulated markets in the U.S. is a landmark in our expansion. The US iGaming market as a whole has been on our radar for some time, as it offers great potential for both ourselves and the industry as a whole. Thanks to our long-standing and successful partnership with Bragg’s ORYX Gaming, we can now bring our premium entertainment and engaging titles to these new audiences for the very first time.”
DraftKings Canada has been issued a fine of $100,000 in monetary penalties by the Alcohol and Gaming Commission of Ontario (AGCO) for alleged advertising and inducement infractions.
The AGCO notes that DraftKings, which was a late arrival to the Ontario regulated market, did not meet the Registrar’s Standards for Internet Gaming and has been issued with the penalty “in order to protect the public interest and ensure Ontario’s iGaming market operates responsibly and with integrity”.
“Contrary to Standard 2.05, between May 19, 2022, and May 31, 2022, Crown DK CAN Ltd posted or aired multiple broad gambling inducements that included inducements of boosted 2:1 odds. The promotion was distributed widely via television and social media channels,” the AGCO said in a statement on their website.
“The Standards were put in place to protect Ontarians. They include clear restrictions on the advertising of inducements, bonuses or credits, except when they are on an operator’s site, or through direct advertising and marketing issued after receiving active player consent (Standard 2.05).”
The broad public advertising of bonuses and other gambling inducements is strictly prohibited in Ontario. Operators served with monetary penalties by the AGCO have the right to appeal the action to the Licence Appeal Tribunal, an adjudicative tribunal independent of the AGCO and part of Tribunals Ontario.
DraftKings is not the first big name to be fined by the AGCO for advertising infractions.
In May, just one month after the launch of Ontario’s market, PointsBet Canada and BetMGM Canada were fined $30,000 and $48,000 respectively for violating Standard 2.05 and also, in BetMGM’s case, Standard 2.04. DraftKings’ fine is significantly higher than either of those punishments.
“The AGCO will continue to monitor the activities of all registered operators and hold them to high standards of responsible gambling, player protection and game integrity,” commented Tom Mungham, Chief Executive Officer and Registrar of the AGCO. “It is in the public interest that we ensure they are meeting their obligations under Ontario’s Gaming Control Act and the Standards.”
FanDuel Group has signed a multi-year partnership with the National Football League (NFL) to become an official sportsbook partner of the league in Canada, expanding the two brands’ existing U.S. partnership across North America.
As part of the expanded North American partnership, FanDuel will have rights to use official NFL and member club IP in a variety of ways to engage fans, and will also have rights to create NFL-themed free-to-play games and run NFL-themed campaigns, including exciting opportunities for FanDuel users to win trips to NFL games—including the Super Bowl.
FanDuel’s advertising will feature prominently on NFL-operated digital platforms, including nfl.com.
“We’re thrilled to extend our partnership with the NFL to Canada,” said Dale Hooper, General Manager, FanDuel Canada. “Ontario sports fans are passionate about American football, and this collaborative effort will bring them more ways to enjoy the sport with friends and family in a fun and responsible way.”
“With the FanDuel partnership in Canada we are able to provide fans with unique and entertaining experiences that will continue to drive high engagement for both organizations,” said Gavin Kemp, Director of Corporate Partnerships, NFL Canada. “FanDuel is an established global leader in the gaming space and we are excited to bring Canadian NFL fans even closer to the game.”
The link-up builds upon FanDuel’s partnership with TSN, the exclusive television broadcast partner of the NFL in Canada. FanDuel’s sports betting experience will be seamlessly integrated within TSN to provide viewers with a new perspective on the leading NFL stories of each week.
FanDuel, which also has ties to Maple Leaf Sports & Entertainment (MLSE) through a Flutter partnership that encompasses both FanDuel and PokerStars, becomes the latest partner of a major sports league in Canada.
Ontario Lottery and Gaming Corporation (OLG) also has a partnership with the NFL, as well as the NHL, the NBA, and the MLB.
RBC and Enthusiast Gaming have announced a joint program to empower young Canadians in their pursuit of a career within the video gaming industry by providing financial support and mentorship to enter the industry.
The RBC Gaming Grant will provide 150 young people with access to mentorship in the gaming industry, and award 50 qualifying participants with grants of $1,500 each to help them advance in their gaming careers. A select number of participants who progress through the program will also have the unique opportunity to intern with Enthusiast Gaming or other leading gaming industry companies in careers including game development, marketing and promotions, and more.
A press release notes that according to the Government of Ontario, the gaming industry contributed $5.5 billion to Canada’s economy in 2021. More than 54 per cent of Canadian teens believe esports is a legitimate career opportunity.
The RBC Gaming Grant is designed to help young Canadians enter the industry by offering mentorship, networking, and practical work experience.
“We understand that many of Canada’s most talented young people are passionate about gaming and see its potential beyond recreation,” said Shannon Cole, Vice-President, Brand Marketing, RBC. “We are thrilled to partner with Enthusiast Gaming to identify these young people and support them in their pursuits of a career within this evolving industry.”
“We’re proud to work together with Royal Bank of Canada to help gamers advance in their careers,” said Enthusiast Gaming SVP of Global Sales Bill Drolet. “Through Enthusiast Gaming, we’ve helped a lot of talented gamers make a living doing what they love — and we know they can thrive in many other fields as well. We look forward to learning more about the young people who answer this opportunity.”
The RBC Gaming Grant is open to young people in Canada ages 18-29. Recruitment began on June 29 and will run for three weeks.
SBC Summit North America, the leading sports betting and iGaming event that spans the whole of North America, is returning in person at Meadowlands Exposition Center in New Jersey from July 12-14, 2022.
The third edition of this industry-leading event will give attendees an excellent chance to explore the opportunities in the U.S. & Canada’s sports betting and iGaming industry, market trends, and product innovation.
SBC Summit North America is the largest dedicated event for iGaming and sports betting in the Americas. The conference and exhibition provide a vast network of world-class senior executives and major players thanks to SBC’s long-lasting history of cultivating and retaining life-long relationships and partnerships with big names in the industry.
Taking place in New Jersey, home to one of the largest sports betting and iGaming markets in North America, the 2022 edition will see executives from every major operator in the region gather to exchange ideas about emerging opportunities and how to handle the inevitable growing pains that will accompany the industry’s expansion.
The audience can look forward to a speaker lineup packed with members of the leadership teams of those operators, together with product and technology specialists, representatives of tribal and commercial casinos, investors, regulators, legal experts, professional sports leagues and teams, and marketing strategists.
More than 250 of the industry’s brightest minds will gather at the Summit to discuss the main challenges in the North American region, the lessons learned during the previous years, and the rising importance of emerging tech and regulatory compliance.
The “Sports Betting Leaders” track will dive into issues such as the need for US-centric innovation in sports betting, the impact of disruptive technologies, and player protection solutions. Meanwhile, the “iGaming Americas” track will give the floor to industry professionals to discuss the opening of more iGaming markets in North America, the Ontario gambling regulation, and the increasing need to build solid relationships with players, among other topics.
Other key topics that will be discussed and spotlighted include a regulatory round-up, payments, “Converging Worlds”, “Sports Betting Product”, “Engagement/Marketing”, “Capital & Growth”, as well as the Player Protection Symposium and many more. Canadian Gaming Association President & CEO Paul Burns will also be one of several industry leaders inducted into the Sports Betting Hall of Fame as part of a special ceremony.
SBC Summit North America also represents one of the year’s best business opportunities, with a host of new sportsbook and iGaming technology and content showcased in the expo hall, and major suppliers using the event to launch new products for the region.
Rounding out the Summit experience is a series of evening networking parties in upscale New York City and New Jersey venues, which provide the ideal setting to connect with stakeholders from across the industry.
AGEM members discount
SBC is pleased to be able to offer an exclusive $250 discount on their Full Access Pass to the event, granting access to all of the following:
Access to an extensive conference program comprising more than 250 world-class speakers, including names such as Amy Howe (CEO, FanDuel), Scott Vanderwel, (CEO, PointsBet Canada), Jeff Yabuki (Chairman of the Board, Sportradar), Bobby Soper (CEO, Sun Gaming & Hospitality), and many, many more!
Access to a trade show marketplace with 50+ leading suppliers providing a great opportunity to do business in person.
Complimentary delicious breakfast, lunch, and drinks.
Access to networking parties in some of the best spots in New York and New Jersey, such as Bar Moxy and Pier Sixty in Manhattan as well as the Meadowlands Racing & Entertainment.
A few of the major operators already registered to attend include PointsBet Canada, Ontario Lottery and Gaming Corporation (OLG), FanDuel’s full c-suite staff, DraftKings, BetMGB, Caesar’s, Foxwoods, Mohegan Sun, Chicksaw, and 30+ other Tribal Operators.
All you need to do to secure your pass is use the promo code: CGSNA22
theScore Chief Operating Officer Benjie Levy will replace Jon Kaplowitz as head of Penn Interactive after the latter stepped down following nearly four years in the job.
Kaplowitz joined Penn in 2019 and oversaw the growth of the Penn Interactive business from 40 to 500 staff. He is leaving his role to spend more time with his family.
He told Legal Sports Reporthe had achieved “everything he set out to do” at Penn. “I couldn’t be more happy with the decision. But, obviously, I’m going to miss it because I love this stuff.”
His replacement, Levy, is currently COO at theScore, which Penn acquired in August 2021. Levy will continue to help run theScore, splitting his time between the company’s headquarters in Toronto and Penn Interactive’s HQ in Philadelphia. In his Penn Interactive role, he will report to Penn’s EVP of operations Todd George.
“Fortunately, we didn’t have to look too far to find the perfect individual to fill the role,” Penn National CEO Jay Snowden told staff in a note. “With our acquisition of theScore last year, we inherited one of the digital sports media and gaming industry’s brightest stars in Benjie Levy. I know Benjie is excited to pick up the baton and continue to build upon Jon’s legacy at Penn Interactive.”
Penn Interactive is running a dual-brand strategy, with Barstool Sportsbook in US sports betting and theScore Bet the go-to brand in Canada. theScore shut down its US operations on July 1 as part of that strategy. Meanwhile, Penn is in the process of facilitating the migration of theScore Bet from a Bet.Works trading engine to its own risk and trading platform.
Sports betting technology provider Sportradar has announced the launch of a new all-in-one sportsbook solution.
ORAKO is intended for operators that are looking to introduce the activity or enhance their existing offer and includes the technology, products, and tools that those operators need to quickly launch and establish an omni-channel sports betting service for customers.
Sportradar added that it is also a tool for casino operators looking to generate new revenue by adding a sportsbook to work alongside their existing products. Operators can choose from a service fully managed by Sportradar or a self-managed service that uses the solution’s advanced tools and technologies. Partners can choose how they build out their sportsbook and tailor their content in line with the interests and preferences of their customer base.
Jacob Lopez Curciel, Managing Director for Managed Sportsbook Services at Sportradar, said: “The sports betting industry is hyper-competitive, growing at pace and offering more opportunities than ever to operators. With ORAKO, we can manage up to 100 per cent of a sportsbook’s operation and alleviate their need to invest in additional technology and innovation, freeing the operator up to squarely focus on scaling their business and achieving growth.”
Compatible with existing player account management systems and pre-loaded with Sportradar’s third-party PAM partners, ORAKO is compliant in all major jurisdictions including North America.
Sportradar is licensed by the Alcohol and Gaming Commission of Ontario and is a major partner of organizations including the NHL, with which it holds nine years left on a 10-year deal as the official betting data rights, official betting streaming rights, and official media data rights partner.
