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DraftKings and Kindbridge expand problem gambling program

DraftKings and Kindbridge Behavioral Health have extended their partnership with the aim of providing more readily accessible treatment for problem gambling to encompass all of the sportsbook’s active markets.

The sportsbook and the mental health service provider originally teamed up back in September to launch a pilot program to deliver personalized support for sports bettors in Colorado. Now, they will provide access to therapy and treatment for problem gaming in every jurisdiction where DraftKings operates its online sportsbook and iGaming products, including Ontario and 25 U.S. states.

Starting from April 1, every DraftKings customer will have access to comprehensive mental health assessments, care providers, and personalized care plans via Kindbridge when they self-exclude within the DraftKings platform.

The two partners have developed a system that they say effectively and accessibly links self-excluded players with numerous support options, including educational content, initial assessment calls, and counseling sessions.

DraftKings Chief Compliance Officer Jennifer Aguiar said the expansion of the initiative will “strengthen our commitment to providing important resources to those experiencing potential indications of problem gaming.”

“We want everyone on our platform to engage in responsible play and we are committed to educating consumers on the multitude of resources offered,” added Aguiar. “For those who recognize signs of problem gaming and decide to utilize our tools to self-exclude, they now have access to therapy and treatment free of cost through Kindbridge Behavioral Health.”

Sportsbooks push for Problem Gambling Awareness Month

The expanded partnership follows Kindbridge’s announcement earlier in March that fellow sportsbook giants BetMGM and FanDuel have joined its pilot program as part of Problem Gambling Awareness Month (PGAM) across the U.S.

The service will be offered to FanDuel customers in New Jersey and Ohio and BetMGM customers in Colorado.

Meanwhile, DraftKings unveiled its My Stats Sheet tool earlier this month, designed to help promote responsible gambling by allowing players to view and track their personal stats through a series of intuitive charts and filtering options with the aim of empowering them to make data-driven decisions on their own play.

XLMedia dumps European and Canadian assets in a bid to focus on the U.S.

Affiliate XLMedia has agreed a deal to sell its European and Canadian sports betting and gaming assets to Gambling.com Group (GAMB).

The deal is worth up to $42.5 million and the company says that it intends to use the proceeds of the transaction to cover a number of costs related to its North American business, including covering asset transition costs and settling outstanding tax provisions..

Assets subject to the transaction include Freebets.com, WhichBingo.co.uk, Nettikasinot.com and Vedonlyonti.com, together with smaller Europe and Canada sites.

“The Board believes the sale of these assets, which is approximately two times the current market capitalization of the whole company, is an excellent outcome for XLMedia and its shareholders.  Importantly, this transaction will allow the Company to clear legacy liabilities, provide working capital and return cash to shareholders,” commented XLMedia chair Marcus Rich.

The deal has a fixed consideration of $37.5 million in addition to an earnout consideration of up to a further $5 million. XLMedia will receive payment from GAMB in three installments, starting on April 1 and then subsequently six months after and one year after closing.

In its latest financial report GAMB predicts that the acquisition of XLMedia’s assets will produce revenue of approximately $10 million and incremental Adjusted EBITDA of approximately $5.0 million during the last nine months of 2024.

“This [latest] acquisition will provide us with another big brand and assets that complement our existing website portfolio in a number of our key-focus markets, enabling us to drive further growth which is both high margin and highly accretive,” said GAMB Chief Executive Officer and Co-Founder Charles Gillespie. “By operating these assets on our technology platform, we expect to unlock their full potential. We are confident that this latest acquisition will create incremental shareholder value in the same way we have done with previous acquisitions.”

XLMedia launched in North America in 2020 with the aim of evolving into a North American sports-led business, however, it has struggled in the region in recent years. During 2023 the company’s revenue fall below its full-year expectations and it cited the reduced level of customer acquisition throughout the year from operators as a reason for the poor performance.

According to the company, the transaction will allow it to focus on delivering value for shareholders from its North American business which it believes remains well positioned to drive revenue in U.S. regulated states and new states when they legalize sports betting.

It is not the only affiliate operator to exit Europe to focus on its North American operation. Catena Media offloaded its European and Australian assets in 2023 in order to concentrate on its growth in North America amid a number of organizational changes.

Ohtani interpreter accused of stealing millions from MLB star for illegal betting

A major-league star like Shohei Ohtani is used to being headline news. But not like this. Ohtani has been embroiled in an illegal sports betting scandal after his interpreter and friend Ippei Mizuhara was fired by the Los Angeles Dodgers on Wednesday following accusations that he has stolen millions of dollars from the player for the purposes of illegal gambling.

The LA Times reported that Mizuhara allegedly used the stolen money to place bets with sportsbook operation in California, where sporting betting remains illegal.

ESPN suggested that funds totaling at least $4.5 million were sent via wire transfers from Ohtani’s bank account to an associate of L.A. resident Mathew Bowyer, who is being investigated by federal U.S. authorities on suspicion of running a bookmaking operation.

Per ESPN, bank information showed Ohtani’s name on two $500,000 payments marked as loans that were sent in September and October. Despite his name’s alleged presence on the transfers, a statement from MLB given to The Athletic confirmed that Ohtani is not currently facing discipline and he is not believed to be under active investigation by the league.

While Mizuhara maintains Ohtani never placed bets himself, the murky situation is not helped by Mizuhara’s conflicting statements.

In an interview with ESPN on Tuesday night, Mizuhara said that he told Ohtani about his sports betting debts and that the star “wasn’t happy about it and said he would help me out to make sure I never do this again.” The next day, he contradicted himself by insisting that Ohtani had no knowledge of his gambling debts and had not transferred any money to Bowyer’s associate, despite suggestions that Ohtani’s name was on multiple transfers.

Mizuhara claimed that after having placed bets with DraftKings in the past, he assumed that placing wagers through Bowyer’s Southern California operation was legal. He also stressed that he never bet on baseball, which is strictly banned by the MLB. Players are allowed to bet on other sports as long as the sportsbook operation they use is legal in their jurisdiction.

ESPN cites a source as claiming that while Bowyer was aware of the name on the transfers, he turned a blind eye as long as the money arrived. However, Bowyer allegedly allowed people to believe Ohtani was a client in order to boost business. He could now be facing potential felony charges. He previously had his home raided by federal authorities in October, where items such as casino chips, a money-counting machine, cash, and luxury items were seized.

The day Toronto thought they were getting Ohtani

Former LA Angel Ohtani is perhaps the biggest star in all of baseball and is the highest-paid player in the history of North American sports. This isn’t the first time his name has moved a ton of money, although usually it’s sports fans laying it down.

He signed a record 10-year, $700-million contract with the Dodgers in December after a highly publicized saga that had many people believing he might be about to sign for the Toronto Blue Jays. Reports from MLB insider Jon Morosi on December 10 that Ohtani was on a plane to Toronto subsequently turned out to be mistaken and he ultimately stayed in LA, breaking many a Canadian sports fan’s heart.

On that day in December, speculation over Ohtani’s future was a huge driver of baseball betting traffic across numerous sportsbooks, with nearly 85% of money wagered on World Series odds at BetMGM on Dec. 10 placed on the Jays.

The following day, Ohtani announced he was signing for the Dodgers.

You win some, you lose some.

iGaming Ontario hunting for proposals for centralized self-exclusion solution

iGaming Ontario has announced it is now seeking proposals in its ongoing efforts to construct a centralized self-exclusion solution for gaming in the province.

From now until April 24, iGO is accepting bids for a software-as-a-service (SaaS) project that intends to make it as easy as possible for provincial sports bettors to voluntarily ban themselves from any regulated website. The successful bidder will collaborate with iGO on a multi-year project to build the program. The project term is listed on the iGO website as five years.

“Partnering with iGO on this multi-year project offers a unique and exciting opportunity for forward-thinking and innovative organizations prepared to make a lasting positive impact on the igaming landscape in Ontario,” said the agency, which works hand-in-hand with the Alcohol and Gaming Commission of Ontario (AGCO), the Ontario Lottery and Gaming Corporation (OLG), and the Government of Ontario to regulate the private-sector online gaming market.

Ontario‘s online gaming market has been open for business for nearly two years and now boasts around 50 operators and roughly 70 different websites for online casino gambling, sports betting, and poker. For the quarter that ended Dec. 31, iGO reported that $17.2 billion was wagered legally by 1.2 million active player accounts in Ontario.

However, the market still lacks a centralized self-exclusion system for players with problem gambling concerns to mitigate their own risk.

The goal is to establish a system that holds the trust and confidence of the Ontario industry’s range of stakeholders, including players and operators. iGO spent months putting together the regulatory framework before announcing in November that it would soon open the RFP process.

iGO’s must-haves

The proposed system is designed to enable players to self-exclude easily and at any time from all regulated iGaming operators in Ontario, including all private operators and OLG, through a single registration process.

The iGO says the system needs to be “player-focused, supportive, transparent, secure, robust, and viable.”

In its RFP release, the agency is looking for bids that satisfy three key criteria:

  • Integrates seamlessly with all Ontario igaming operators’ systems, including Ontario Lottery and Gaming Corporation (OLG)’s igaming site.
  • Provides anyone 19+ with easy access to create and manage their self-exclusion profile.
  • Implements Know Your Customer (KYC) identity verification, registration, renewal, and reinstatement processes that are intuitive, simple, and offer supporting information.

More details on the Centralized Self-Exclusion (CSE) Solution, along with other iGO current and past bid opportunities, can be found on iGO’s MERX page.

AGS enters Ontario through Caesars Digital partnership

American Gaming Systems (AGS) has announced it is expanding its partnership with Caesars Digital to bring its library of real-money games to Ontario and West Virginia.

After AGS Interactive launched its Rakin’ Bacon Odyssey game in New Jersey last month, that game and the company’s other most popular titles can now be played in the Ontario and West Virginia markets via the Caesars Palace Online Casino app or online at caesarspalaceonline.com.

“We are thrilled to expand our partnership with Caesars Digital as we enter Ontario and West Virginia,” said Zoe Ebling, AGS Vice President of Interactive. “Bringing our top games to a wider audience is a significant milestone for us, and these new states are only the beginning.

AGS, a global gaming company with roots in the Native American gaming market, struck a deal to supply online gaming content to Caesars Sportsbook & Casino back in January 2023. Caesars Digital launched its Caesars Palace Online Casino online casino app and desktop platform in Ontario and four US states last August.

“Collaborating with Caesars has always been about providing a unique experience, and launching in these regions elevates our cooperation to a new level,” added Ebling. “We are eager to introduce exciting experiences to players in these areas and make a positive impact together in fresh territories.”

“AGSi has delivered exceptional experiences to our online casino players ranging from exclusive game launches to the expansion of our gaming catalog,” added Matthew Sunderland, Senior Vice President and Chief iGaming Officer at Caesars Digital. “We look forward to working with them to bring more exciting game titles to our online casino players across our platforms in both West Virginia and Ontario.”

More Canadian inroads for AGS

AGS already has a footprint in Canada.

The Las Vegas-headquartered supplier entered the market north of the border via Loto-Québec through a partnership with Scientific Games’ OpenGaming platform in June 2021. It also struck a similar content deal in Alberta with Pariplay and ilottery provider NeoPollard Interactive in December 2022 to launch its titles on the AGLC‘s PlayAlberta.ca platform.

NorthStar adds new dimension to sports content with Tallysight in time for March Madness

Toronto-based betting company NorthStar Gaming has teamed up with software provider Tallysight Inc. for March Madness.

The partnership, announced on March 20, will see Tallysight provide dynamic betting content such as odds widgets and graphics for NorthStar‘s editorial sports and betting content.

The new visual tools will be used on NorthStar’s in-app Sports Insights content vertical which provides players on the company’s betting platform, NorthStar Bets, with analysis, stats and trends, staff picks, and tips from NorthStar’s Ontario-based staff writer team. Tallysight’s dynamic odds widgets will offer Northstar Bets users the ability to click on latest odds directly within articles and place wagers without leaving the page.

“The enhancement of Sports Insights is an important initiative for us this year, supporting our positioning as a premium brand that offers unique content to our customers,” said Michael Moskowitz, CEO and founding partner of NorthStar. “Tallysight’s tools will help make Sports Insights content more dynamic and even more closely integrated with our sportsbook to improve the overall user experience.”

Matt Peterson, co-founder and CEO of Tallysight, which provides no-code content and wagering platform for its partners, called the union with NorthStar “a significant milestone for our company.”

“NorthStar’s vision for a deeply integrated sports media and betting experience aligns perfectly with our goal of revolutionizing content delivery in the gaming industry,” added Peterson. “We’re excited to bring our technology to the table, enhancing the way NorthStar’s customers engage with its content and place wagers through our innovative, real-time audience engagement solutions.”

NorthStar Bets, a made-in-Ontario casino and sportsbook gaming platform, focuses on local content and odds within the regulated Ontario sports betting market, providing real-time news and analysis as well as real-time betting content.

NorthStar continues to push after US listing

It’s the latest move from NorthStar in the brand’s continued push forward in the Canadian market.

The company launched its NorthStar Bets platform in Ontario in May 2022, soon after the province’s regulated online gaming and betting market opened, and has since extended to other regions of Canada.

Northstar’s common shares have traded on the TSX Venture Exchange since March last year and it was approved to commence trading in the U.S. on the OTCQB Venture Market earlier this month.

It holds partnerships with the likes of Playtech and Kambi in the Canadian market, as well as innovative deals such as a union with BettorView, which works with bars and restaurants to provide customizable sports and sports betting advertisements.

Great Canadian Entertainment to use Everi AML tools in Atlantic provinces

Great Canadian Entertainment is extending its partnership with Everi by implementing the solutions provider’s Everi Compliance Anti-Money Laundering toolkit at its Casino New Brunswick and Casino Nova Scotia properties.

The Canadian gaming giant selected Everi’s solutions, which the provider calls the most widely used and sophisticated AML software available for the industry, from a range of contenders.

“We evaluated various AML solutions in our selection process and determined that the Everi Compliance solution best fits our needs,” said Sukvinder Singh, Chief Compliance Officer, Great Canadian Entertainment, in a joint release. “We are looking forward to working with the Everi team to enhance our AML program in our Atlantic properties.”

Everi Compliance is already used in over 600 gaming properties across North America, with a Canadian footprint that also includes the likes of the British Columbia Lottery Corporation.

“Everi is delighted to be selected by Great Canadian, Canada’s premier gaming and hospitality company, as their AML Solution provider,” said Darren Simmons, Everi’s Executive Vice President and FinTech Business Leader. “We have made significant investments in our RegTech business and are proud to work with multiple Canadian operators to achieve higher levels of compliance. Our robust solutions have been built to support the ever-changing regulatory landscape in Canada.”

It’s been a big few weeks of news for both Everi and Great Canadian.

The casino operator, which runs more than two dozen entertainment locations throughout Ontario, British Columbia, New Brunswick, and Nova Scotia, announced late last month the appointment of Pauline Alimchandani as its new Chief Financial Officer effective March 31.

A week later, Everi confirmed it is merging with gaming technology giant IGT in a deal valued at $6.5 billion.

CFO Jason Park named new Chief Transformation officer in DraftKings reshuffle

DraftKings is moving its Chief Financial Officer Jason Park into the role of Chief Transformation Officer amid a reshuffle at the C-suite for the betting and gaming giant.

In his new role, Park will be tasked with deploying “cutting edge technologies” to aid operating efficiencies as well as overseeing the planned acquisition of Jackpocket.

“I am thrilled to take on this new role which tackles several significant opportunities to improve how we operate and taps into my passion for building great and highly efficient companies,” said Park in a statement.

Park has been with DraftKings since joining as CFO in 2019. In that position, he oversaw the company’s transition to the public markets and oversaw exponential increases in revenue and stock price. His move to Chief Transformation Officer is at the request of DraftKings CEO and co-founder Jason Robins.

“I have asked Jason Park to take on a new role at DraftKings to address and capture large efficiency opportunities that I expect will generate significant incremental profitability over the coming years,” said Robins. “Jason’s unique skill set will allow us to further improve how we operate. In addition, I’m confident he will unlock the benefits of our proposed acquisition of Jackpocket following its closing to strengthen DraftKings’ position in U.S. online gaming.”

Park will be replaced as CFO by Alan Ellingson, who is being promoted from Senior Vice President of Finance and Analytics and has worked closely with Park to develop what the company calls a world-class finance and accounting department.

“I am very excited to elevate Alan Ellingson to Chief Financial Officer and have him continue to lead the company on the very clear path that we have laid out,” added Robins. “Alan has been with DraftKings for more than four years, has extensive experience across our finance and analytics teams, and most importantly, deeply understands our core value drivers and focus on maximizing shareholder value.”

Both personnel moves will be effective from May 1, 2024.

A bet on Jackpocket’s future?

Robins’ focus on Jackpocket in explaining Park’s shift seems to suggest that DraftKings have high hopes for the digital lottery supplier they are acquiring for a projected $750 million USD ($1 billion CAD).

DK said at the time of that announcement in February that it expects the purchase to result in between $260m to $340m USD ($353m to $462m CAD) in incremental revenue in the 2026 fiscal year as it enters the U.S. digital lottery vertical. That projected journey is one for which Robins wants Park to be in the driving seat.

DraftKings level new accusations at former employee

Park and Ellingson aren’t the only DraftKings employees in the news right now.

In a new filing, DraftKings said new information has come to light that proved former staffer Mike Hermalyn, who left for Fanatics days before the 2024 Super Bowl, stole company documents and attempted to persuade employees of the company join him at Fanatics.

DraftKings launches new responsible gambling tool

Last week, DraftKings launched a new responsible gambling tool, My Stats Sheet, which allows players to view and track their personal stats through a series of “intuitive” charts and filtering options.

The tool is intended to empower players to make data-driven decisions on their own play and is now available on all DraftKings and Golden Nugget Products.

Payment technology provider Nuvei forms special committee to consider potential buyout

Canadian fintech firm Nuvei has confirmed it has set up a “special committee” to consider expressions of interest for the payment technology – including a potential go-private transaction.

The company, which is backed by Deadpool star Ryan Reynolds, made the comments following reports by multiple sources that private equity firm Advent International is in talks to buy Nuvei, which has a market capitalization of $3 billion.

“The Company cautions readers that it has not entered into any agreements or understandings to effect a privatization or similar transaction,” said Nuvei in a press release. “The Special Committee is continuing its evaluation of the proposals received to date and the strategic alternatives available to the Company, and no decision has been made at this time whether to pursue a transaction or maintain the status quo.”

Nuvei provides payment technology to a large array of companies globally including betting operators GAN and 888 in Ontario.

It raised $700 million when it went public in September 2020 and its stocks reached a peak of C$170 ($125.54) in 2021. On Friday stocks closed at C$29 while New York-listed shares closed at $21.76.

This month also saw Nuvei release a full-year 2024 revenue outlook of $1.34 billion to $1.37 billion, compared with the $1.19 billion it recorded last year. In the last quarter of 2023 the company’s per-share adjusted earnings remained flat at $0.47, while revenue increased 46% to $321.5.

Last year the company acquired commerce solutions company Paya Holdings for $1.3 billion which drew criticism from Spruce Point Capital Management who held a short position in the company.

As well as the offer from Advent, Nuvei also confirmed it has engaged in discussions regarding a potential transaction that would involve continued significant ownership by current shareholders, including Chief Executive and founder Phil Fayer.

Given the nature of the process, Nuvei says that it does not intend to make any further comments unless otherwise required to do so.

Online gaming coalition seeks open market in Québec as province reports $11B deficit

The Québec Online Gaming Coalition (QOGC) believes the province is missing out on a promising opportunity.

The coalition has voiced its displeasure with the Québec government for not reaping the benefits of an open online gaming market as the province reported a record $11 billion deficit in its 2024-25 budget. The group believes Québec is missing out on substantial tax revenue from open gaming, which is projected to reach at least $230 million annually.

The tax revenue could then be allocated toward the economy, health, and education.

“The Minister [of Finance] missed an opportunity to send a clear signal in his budget, following Alberta’s example last week, to take action towards implementing regulations that would protect Québecers while boosting government revenues,” said spokesperson Nathalie Bergeron. “Instead of listening to the experts, who have been calling for regulation of the online gaming market for over 10 years, Québec prefers to protect Loto-Québec’s monopoly, to the detriment of public services and the Quebec society that receives them.”

The QOGC has taken this stance as Ontario drives profits from regulated open gaming.

Canada’s most populous province launched an open market in 2022. In its first year of operation, Ontario’s open gaming market generated $523 million in revenue for provincial and municipal governments. It also added $1.6 billion to Ontario’s GDP.

As a result, the coalition has demanded that Québec’s Minister of Finance review Loto-Québec’s mandate, which makes the crown corporation the province’s online wagering platform. The QOGC is asking the Québec government to establish a regulatory body for private operators in the province to ensure that wagering has proper oversight.

The coalition stands to be heard, with members from some of the world’s largest gambling operators, including DraftKings, Entain, Flutter Entertainment and Rush Street Gaming.