Entain, a global gaming brand, has expanded its presence in Africa by launching its bwin brand in Zambia. Bwin, which is Entain’s sports betting brand, will make a foray into the country and will nurture Zambia’s sports and tourism sectors.

Entain Launches Bwin in Africa

The Zambian venture was announced at the Radisson Blu Hotel in Lusaka. During a press event, the sportsbook’s parent company announced the launch and vowed to use the opportunity to promote sports and tourism in the country. Bwin has already cleared all required integrations with African network and payment providers Airtel and MTN and is ready to accept bets.  

The Entain-owned sportsbook also announced its intentions to promote responsible gambling in the African country. To that end, bwin will recommend BetBlocker, an acclaimed harm prevention and self-exclusion app, to its customers in Zambia. BetBlocker is free for everyone, doesn’t require any registrations and can quickly exclude a customer from all forms of money games.

All and all, Entain aims to continue being a force that impacts society positively. That’s why the company is bullish on boosting tourism rates and supporting the Zambian economy while making sure that gambling harm rates are kept at the absolute minimum. The company’s goal is to run a sustainable business that nurtures the local economy, laying the groundwork for further expansion in the continent.

Zambians Are Going to Love Entain’s Products

Entain first announced its intentions to expand its presence in the continent to its investors. The company informed shareholders that it is eyeing Kenya and Zambia as markets where it may possibly launch its products.

Zambia, where Entain eventually opted to launch, currently allows sports betting, casino gaming and lotteries and has a separate regulatory framework for each of the three verticals. The Zambian Betting Control and Licensing Board is the body responsible for issuing and revoking licenses as per the Betting Control Act.

Spencer Okach, the chief marketing officer for bwin Africa, spoke about the launch. He said that his team is very excited to make a foray into Zambia – a country that is famous for being one of the top regulated gaming jurisdictions in Africa.

Okach said that he is sure customers from the African nation will relish in what the bwin brand has to offer. He said that the brand’s experience paired with a rich selection of betting markets is something that punters in Zambia are sure to love.

Speaking about Entain and sports betting, the company just released data about the most patriotic soccer fans in the world.

3 Oaks Gaming has signed a new important partnership with Hub88, a platform that is a subsidiary of Yolo Investments, and that provides platform solutions for the iGaming sector. 3 Oaks Gaming is a fairly new supplier and developer of casino games and marketing tools, and it has been securing one important commercial milestone after another.

3 Oaks Gaming Joins Hub88 Platform

Hub88 will have access to a range of titles provided by 3 Oaks Gaming, including but hardly limited to Hit the Gold, Green Chili, and Sun of Egypt 3, among others. Hub88’s network of partners has been growing rapidly, and operators will now have the opportunity to also benefit from some of the most worthwhile titles delivered by the up-and-coming developer of titles.

3 Oaks Gaming is happy to have added Hub88 as a partner, following collaborations with prominent iGaming companies such as EveryMatrix, iSoftBet and Parimatch, among others. 3 Oaks Gaming was founded in 2021 and it has been rapidly scaling up its production pace, reach, and presence with leading operators and in important markets.

Commenting on this opportunity, 3 Oaks Gaming managing director Sebastian Damian said that the company was thrilled at the opportunity to further expand its product offer. He added:

We continue to go from strength to strength and this collaboration is yet another example of the impact that our games are making on the industry.

3 Oaks Gaming managing director Sebastian Damian

Hub88 managing director Jose Micallef was similarly excited at the opportunity and said that the company was continuously looking to bring to its network of partners the most promising games and products. 3 Oaks Gaming makes a fantastic fit as part of this mission.

“Our platform now has a top-tier collection of slots available, and we look forward to bringing this impressive content to even more players,” Micallef said. As 3 Oaks Gaming’s clout continues to grow, the company has brought Krasimir Pankovski as its new head of sales. The company also secured a license to expand in Italy.

The leading gambling affiliate operator, Catena Media, released its latest interim report and provided an update on its strategic review Thursday.

Catena Media Posts Q3 Results

The company revealed its revenue for the third quarter hit €32.3 million ($33.4 million). A year-over-year comparison to the same period in 2021 showed that this year, the revenue decreased by 2%. Despite the decrease, the company reported strong performance from its North American operations. The revenue from North American operations was equivalent to 58% of the total revenue or €18.6 million ($19.2 million). Considering that in Q3, 2021, this revenue halted at €16.8 million ($17.4 million), a strong increase of 11% was observed this year.

Catena revealed that its organic growth in Q3 was negative 4%. If the German sports betting market is excluded, the company said that the organic growth is negative 3%. Adjusted EBITDA for the third quarter this year decreased by 29% hitting €11.7 million ($12.1 million). On the other hand, the company has also seen a decrease in new depositing customers (NDCs). In total, NDCs for the period July through September 2022 was 116,746, down 24% when compared to the 153,701 reported for the corresponding period in 2021.

Strategic Review near Completion, Layoffs Planned

It was back in May when Catena launched a strategic review for the company. At the time of the announcement, the company said it seeks to identify “potential transactions, structural changes, and other strategic initiatives” that can boost its shareholder value and revenue.

Now, as a part of its latest interim report, the company confirmed a reduction of the workforce within its European teams. Overall, the company unveiled its plans to reduce its European headcount by 25%, a measure pushed by the strategic review. This is expected to save some €5.5 million ($5.7 million). Catena explained that the change is expected to be in effect from the first quarter of 2023.

“The restructuring measures led to a reduction in European headcount of more than 25 percent and generated combined annualized savings of €5.5 million. These savings, which were above our initial target of €5 million, will apply in full from January 2023.“

Michael Daly, CEO at Catena Media

Michael Daly, Catena’s CEO, explained that the strategic review of the company’s operations is approaching its completion. He pointed out that different assets “are currently in a divestment phase” and revealed that an external advisor is managing the process. Daly vowed Catena will share more details regarding the results of the review soon.

At the same time, Daly explained that the strategic review seeks to optimize “the business to capitalize on the growth of online sports betting and casino in North America,” a market that continues to grow. The company’s boss acknowledged that the Latin American markets hold potential for future growth. ” We continue to build for the future, and do so from a position of unprecedented strength,” added Daly. Finally, he predicted strong growth for the company in North America and beyond.

On November 17, US sportsbook MaximBet announced on Twitter it is shutting down its sports betting operations. On November 16, the company sent out an email to its customers about the decision, pointing to macroeconomic conditions as the main reason.

MaximBet Informed Customers It Is Closing Sports Betting Operations

MaximBet will no longer be taking sports bets from customers as it is closing its sports betting operations. Its clients in Colorado and Indiana have until December 15 to withdraw any remaining funds in their accounts. Any remaining funds after that date will be automatically sent by check to the address registered in the account.

In the email MaximBet sent out to its customers on Wednesday, the relatively new company elaborated on the reasons behind the sudden shutdown:

MaximBet launched in 2021 with a desire to bring sports, entertainment, and betting together, all inside a lifestyle brand with a complete focus on the end user. While making great strides in offering customers a completely unique player experience, our ability as an early-stage company to compete in a market where operating costs far exceed revenue, even among the top operators, is not sustainable.

MaximBet statement

MaximBet also highlighted that its top priority at the moment is to help customers in Indiana and Colorado withdraw their funds and close their accounts in the smoothest and quickest possible way. 

Considering the high licensing costs involved in launching a sports betting business and the fact that sports betting is a low-margin operation in principle, it becomes more and more difficult for smaller and start-up companies to compete in an aggressive market dominated by a few major stakeholders.

Therefore, it is expected that more sportsbooks will have the same faith as MaximBet in the upcoming months.

MaximBet Had Big Expansion Plans for the US Market

Less than two months ago MaximBet went live in one more US state, adding Indiana to its Colorado offering. 

The company also had big plans for expansion in other US states including Iowa, New Jersey, and Ohio, among others. These expansion plans were part of a partnership with Caesars involving a total of 10 US states.

Additionally, MaximBet made agreements with major star rapper Nicki Minaj and Colorado Rockies Charlie Blackmon aka “Chuck Nazty” in June and April respectively to become brand ambassadors for the company. 

In 2021, Carousel Group partnered with media company Maxim to create the brand MaximBet with Carousel Group investing $50 million in Series A funding. The brand was targeting the young male demographic and tried to position itself somewhere in the middle of entertainment and sports betting.

Image Source: Shutterstock.com

The leading 24/7 sports betting network, VSiN, announced a new collaboration with Gow Media, the multi-platform media featuring sports radio stations and a national sports talk network. The new groundbreaking content deal was announced Wednesday and will see the creation of one of the largest sports radio networks in the United States.

Gow Media and VSiN Ink New Content Deal

Under the terms of the collaboration, VSiN will significantly expand its reach and more than 300 affiliates will be airing content. Such content will include Brent Musburger’s one minute Action Updates, as well as other sports betting shows. Thanks to the latest collaboration with Gow Media, VSiN is expected to significantly expand its overall terrestrial network. This groundbreaking deal will bring invaluable sports betting data for the continuously growing number of Americans interested in wagering on sports. According to a statement released by VSiN, its content will be featured via all of Gow’s SportsMap stations starting from January 9 next year.

The new collaboration will further solidify the position of VSiN as one of the largest producers of sports betting-focused content including live sports betting content and podcasts. In fact, the network currently boasts a huge catalog with more than 15 podcasts. What’s more, VSiN’s latest deal with Gow Media will further cement the network’s position as the largest sports betting network in the US, offering a variety of sports-focused content.

VSiN Significantly Expands Its Reach via the New Deal

Brian Musburger, VSiN’s founder and CEO, said that the CEO of Gow Media, David Gow, established a “powerhouse in the US radio industry.” The company’s CEO and founder added that VSiN is delighted to join forces with Gow Media and bring unique sports betting news, insights and analysis to the growing sports betting audiences.

“Over the past five years, VSiN has established itself as a leading voice in this space, and now as the largest national sports betting network, we will bring our unique brand of sports wagering content to more fans than ever before.“

Brian Musburger, founder and CEO at VSiN

Additionally, Musburger pointed out that the new collaboration with Gow Media is in line with the company’s commitment to offering quality sports betting-related content for sports fans. At the same time, he acknowledged that the company has grown significantly in the last few years and solidified its place as a leading sports betting network in the US. Finally, Musburger predicted that the new content deal will help deliver sports wagering content to a bigger audience than ever before.

“We are thrilled to be working with VSiN.“

David Gow, CEO of Gow Media

Sharing his excitement, David Gow added that the company is delighted to team up with VSiN. He pointed out that the new deal will bring unique content to a growing audience of sports fans and bettors.

A couple of weeks ago, Wales captain Gareth Bale got into the spotlight of American sports fans by scoring the decisive goal for LAFC in the 8^th minute of the stoppage time in the 2022 MLS Cup Final.

Fast-forward to Monday, November 21, and the Welshman is going to be on the radar of American soccer fans once again. This time, it’s because his national team will lock horns with the USMNT in the first round of the 2022 World Cup.

You can think of the USMNT vs Wales game as a crucial battle for the no.2 spot in the World Cup Group B (it’s very likely England will finish in the no.1 place). The winner of this game would make one giant leap toward the World Cup knockouts, so you can be 100% sure all the players on the pitch will give their utmost on Monday.

But who’s going to win? To see what we think about the USMNT vs Wales game, just keep on reading!

USMNT vs Wales Odds

Match-Winner

Goals Over/Under

*Odds taken from bet365 on Wednesday, November 16.

When, Where, and How to Watch?

• Place: Ahmad bin Ali Stadium in Al Rayyan, Qatar
• Date: Monday, November 21, 2022
• Time: 2:00 PM ET
• How to Watch: FOX/Telemundo

The United States Roster Has Never Been This Strong

Team USA is the third-most bet-on World Cup team with 11% of all the wagers. Even though the odds are pretty long (+13000), no one can say that bettors are crazy to back this team. The thing is that the roster of the USMNT hasn’t been this strong in a while. In fact, one may argue that this is the strongest squad in the history of Team US.

The sports betting, media and technology company, Rivalry Corp, announced the launch of a new interactive casino platform. On Wednesday, the company unveiled the launch of its proprietary interactive platform called Casino.exe.

Rivalry Launches New Interactive Gaming Platform

The unique platform initially offers a handful of games such as Bomb Squad, Penalty Shootout, Courier Sweeper and Wheel of Time. In addition, Rivalry explained that Casino.exe features popular titles such as Rushlane and Aviator. Rivalry’s new platform is presented as a virtual space where the customers can power a vintage PC. The platform seeks to engage with consumers by offering a retro-like operating system featuring a computer desktop that offers a functioning MP3 player. What’s more, the users can personalize the system and change the wallpaper. The games are presented as traditional icons which online users can click and play.

The interactive online platform complements Rivalry’s ongoing expansion into iGaming. Additionally, the company explained that Casino.exe will “house current and future games on the website.” At the same time, the new platform creates new and engaging experiences for online customers.

The recent announcement comes on the heels of the release of Rivalry’s first-ever casino game. Back in July this year, the company soft-launched its first casino game called Aviator. The title brought groundbreaking success for the company considering that it generated more than 10% of its revenue for the third quarter without the company spending any money on marketing since its launch.

The Company Enjoys the Attention of Young Gamblers

David King, Rivalry’s senior manager of product design, revealed that a key to the company’s success is getting the attention of young adults at an average age of 25. Focusing on the new solution, he added: “Casino.exe completely redefines the traditional casino experience and puts a thoughtful and entertaining spin on it using a visual expression that our community has a shared reverence for.”

“The launch of Casino.exe will allow us to further diversify our offering in a way that stays true to our brand and separates our product from others.“

Steven Salz, CEO and co-founder of Rivalry

According to Steven Salz, Rivalry’s co-founder and CEO, the company leverages technology and capabilities that help deliver unique betting experiences for the younger audiences that seek interactive entertainment. He added that with the launch of Casino.exe, the company expands its offering further. Finally, Salz said: “As we scale thoughtfully into the casino segment, we’ll reduce the impact of seasonality in esports, increase customer value, and offer more stable margin profiles.”

iGaming content distributor QTech announced a new strategic collaboration with Anguilla-based casino game developer Manna Play. QTech gains access to a substantial portfolio of successful games, boosting its status as one of Asia’s leading partners for gambling operators. Meanwhile, Manna Play will be able to substantially broaden its geographic footprint, introducing its content to previously inaccessible areas.

Manna Play Will Reach Untapped Markets

Manna Play’s content should be a natural fit for QTech, as it boasts many state-of-the-art offerings developed by a talented and multi-faceted team. The company’s most popular games include titles like Double Dragons, Bikini Queens Dating, and Gem Princess. The studio is adept at combining the traditional slot experience with quality narratives, great gameplay, and varied, engaging art styles, appealing to a diverse audience.

Monica Chang, Manna Play’s COO, commented that the new partnership would bolster the company’s global impact, allowing more players to enjoy its quality content.

This QTech deal embodies our cornerstone strategy to maximize our reach, and we look forward to seeing how new audiences embrace our games.

Monica Chang, Manna Plays COO

Chang lauded QTech’s market-leading platform and expressed hope that the distributor would fully utilize Manna Play’s quality casino games and player-engagement tools.

QTech’s new COO delivers on his promises

QTech should also greatly benefit from the new collaboration, as new and engaging titles are the lifeblood of any gaming content distributor. The company primarily services the Asia area, but its diverse selection of gaming solutions has allowed it to quickly expand across developing territories in Eastern Europe to Latin America. QTech’s platform gives operators access to a vast library of localized content boosted by reliable reporting and marketing tools.

Daniel Long, QTech Games’ CCO, stated that integrating Manna Play’s growing content library would be a great boon for the platform, thanks to the developer’s commitment to delivering a premium experience.

Together, we will continue to raise the bar… We can’t wait to witness how these games perform across a range of untapped markets.

Daniel Long, QTech Games CCO

The Manna Play deal marks one of Long’s first high-profile achievements as QTech COO. He only recently joined the company at the beginning of November, and his substantial industry experience is already paying dividends. Long expressed his commitment to boosting QTech’s global presence and fostering growth. A partnership with a proven and capable content developer seems to be a decisive first step toward that goal.

Online gaming operator with a focus on Spain and Latin America Codere Online published its financial results for the third quarter of 2022, posting €28.9 million ($30 million) in total revenue and €11.6 million ($12 million) net loss.

Total Revenue Growth

Nasdaq-listed Codere Online posted for the three months ended September 30, 2022, a 51% increase in total revenue year-over-year and a 5.5% increase to the €27.4 million ($28.5 million) registered in Q2 2022.

Commenting on the results, Codere Online chief executive officer Moshe Edree outlined that growth was mainly due to the “stronger than expected results” in the company’s casino business. He also pointed the market in Mexico performed “particularly strong,” while Spain also exceeded the company’s expectations “despite the marketing restrictions currently in place.”

Revenue in Mexico reached €11.4 million ($11.9 million) and exceeded the Q3 2021 figure by 80%. In Spain, Codere Online achieved a result only 29% above the respective quarter in 2021, €14.9 million ($15.5 million) mainly due to the marketing restrictions. On a sequential basis, revenue in Mexico grew by 7.5% while in Spain, growth was 5.7%.

Operations in Colombia generated €1.8 million ($1.88 million) revenue, while operations in other markets added €0.7 million ($0.73 million). Compared to the previous quarter of 2022, Colombia posted an increase of 80% while other markets decreased by 30%.

Net Loss Increased

Codere Online does not provide any details related to the company’s expense structure during the quarter but the bottom line was a net loss of €11.6 million ($12 million). The figure cannot be compared year-over-year as in its Q3 2021 report the company did not provide a figure for its net income.

Net loss in Q1 2022 was €10.1 million ($10.5 million) with 82,800 average monthly active players, it fell to €6.7 million ($6.97 million) in Q2 when revenue was up 14% quarter-over-quarter and average monthly active players were 104,700 and went up 73% in Q3 when revenue was up 5.5% quarter-over-quarter with average active monthly players slightly decreasing to 104,300.

Codere Online chief financial officer Oscar Iglesias commented on the results, stressing the acceleration in revenue growth, confident that with the upcoming FIFA World Cup 2022, the business will be able to reach the high end of its full-year net gaming revenue outlook.

Iglesias also mentioned the opportunity in Argentina where Codere Online is pursuing an online gaming license in the Province of Buenos Aires and planning to bid for a license in the Province of Mendoza.