It’s been a busy year for the debt-free, Australian wagering operator BlueBet. Before announcing the launch of its first US-based sportsbook in Iowa at the end of August, the ASX-listed mobile sports betting company sealed a deal with Caesars to mark its entry in Indiana. The company that recorded a fourth-quarter turnover of close to $100 million that signaled a 40% increase compared to previous numbers, has made a new strategic investment. BlueBet has decided to inject half a million into UK-based Low6, a free-to-play sports gamification platform provider.

The $500k Investment Expected to Help BlueBet Grow

Low6 generates fantasy and free-to-play games meant to engage sports audiences for betting operators, franchises, and media companies. The company also operates the UltimateFan fantasy app and Pick ’Em-style games, among others. BlueBet has decided to make the investment in order to expand its offering with free-to-play games while attracting newcomers and engaging current players that are already part of its customer base.

The decision will allow BlueBet to release its products on Low6’s platform for the upcoming five years. At the same time, the newly signed deal has also highlighted the company’s commitment to adding fresh and innovative titles to its portfolio. 

Free-to-Play Games, a “Huge Adjacent Opportunity”

BlueBet’s chief executive officer Bill Richmond expressed the company’s excitement regarding the new strategic investment. He called Low6 “one of the global leaders in sports gamification technology” and further explained that BlueBet envisions free-to-play games as an important “adjacent opportunity” to their core sportsbooks. Richmond also explained the company was well aware of young players’ genuine desire to expand their gameplay and test out fantasy sports with them. Low6’s bespoke iGaming solutions for BlueBet are, therefore, expected to match their “differentiated consumer brands”, further drawing in new customers in Australia and the US via ClutchBet.

BlueBet is currently powered by a scalable and customized platform that relies on cloud technology with a focus on offering customers the best experiences. The operator has created its own customer-focused website, technology platform, and native apps with the purpose of delivering top-tier mobile experiences to players on the go. BlueBet intends to keep growing in Australia and capitalize on the scalability of its technology platform while taking advantage of the green light given to sports betting in the US. With a rich history of partnering with prestigious sports leagues and clubs, Low-6 develops white-labeled gamification solutions including Tribal, Fantasy, Picks, and Brackets, while focusing on customer retention, acquisition, and gaming. Last week, Low-6 partnered with Rivalry to roll out a new Pick’em game.

HappyCasino, a Pay’n’Play casino that is owned and operated by the Malta-based iGaming company, Glitnor Group, announced that it has gone live with a full collection of Swintt’s range of video slot games.

The platform, which was launched in August this year and was specially designed for the Swedish gaming market, will offer more than 40 popular releases from the Malta-based casino games supplier, including titles in the SwinttSelect and Premium slot ranges.

Customers, who enjoy more modern video slot games, will have access to new titles including Candy Gold, The Crown starring Vinnie Jones and Aloha Spirt Xtra Lock. The last one includes a patented XtraLock system that allows customers to use Tiki Spins, which, in turn, might provide access to four local jackpot awards.

In addition, Swedish customers will enjoy other games, such as Extra Win X, Master of Books Unlimited, and Book of Dino Unlimited, combining land-based slots with free spins and expanding wilds.

Swintt to Become a Leading Gaming Provider

With this new cooperation, Swintt aims to establish itself as a leading provider of online gaming products in Sweden by placing its games in front of a wide new audience. The partnership between Glitnor and Swintt promises to be long and profitable.

David Mann, chief executive officer at Swintt, commented that the collaboration between the software provider, who recently received the award in the category “Innovation in Mobile” at the 2022 EGR B2B Awards, and HappyCasino, which is an innovative mobile-first casino, “looks set to be a match made in heaven.” He added that the casino games supplier was excited to share its full suite of Select and Premium slots with Swedish players and hoped that it would help HappyCasino embed in the Swedish gambling market.

Popular Games = Popular Casino

On the other hand, David Schwieler, chief executive officer of Lucky Casino & Happy Casinos stated that the popularity of any new online casino depends on the popularity of the games that it offers to the customers. He also said that by including Swintt games and some other titles of different leading suppliers in their platform, HappyCasino would manage to deliver an unparalleled gaming experience to players in Sweden.

Glitnor Continues Expanding in North America

Earlier in October, David Flynn, chief executive officer of Glitnor Group, commented that the gaming company was going through the Canadian licensing process and its plans include stepping into the North American gaming market. Glitnor Group operates already in 12 US states and recently obtained a license to do business in Michigan.

The Star Entertainment Group has parted ways with Gerard Bradley, one of its board of directors members. Bradley had previously announced that he may exit the company’s board and has now officially resigned from the position.

Bradley Left as He Had Promised

Bradley first shared that he is considering resigning from the company right before the Bell Inquiry into Star’s business. After the latter uncovered numerous anti-money-laundering protocol breaches Bradley confirmed that he will make leave the company within a few months.

Bradley believes that Star’s board of directors must take some responsibility for the company’s mistakes. The director also believes that the group could have done more and is guilty of not following its own acceptable code of conduct and risk management measures. In an earlier statement, he said:

The board has responsibility for the culture of an organization and the way in which it operates. This was clearly not in accordance with our acceptable code of conduct and our risk management approach.

Gerard Bradley, former director, The Star Entertainment

Bradley noted that the board was not aware of the way in which the aforementioned breaches occurred. Still, according to him, this further emphasizes the board’s shortcomings. He cited accountability responsibility as the reason for his personal leave.

The Star’s Board Wished Bradley All the Best

The Star later confirmed Bradley’s intentions to leave the company. Following the publishing of the Bell Inquiry in September, Bradley has finally decided to hand in his resignation. The director will vacate his seat with immediate effect. This ends his almost decade-long tenure with the Australian casino giant.

Ben Heap, The Star’s chair, thanked Bradley for his “considerable contribution” to the company and said that the entire board was happy to have him around. Heap wished the departing director all the best in his future endeavors.

The Company Is Hellbent on Doing Better

The numerous AML breaches cost The Star its Sydney license. Furthermore, the company was slapped with a $64 million fine, which is the highest fine the NSW Independent Casino Commission (NICC) has ever issued.

Yet, despite its failings, The Star Sydney was allowed to continue its business under the strict administration of a NICC-appointed manager. The casino giant is now seeking to rebuild its business and regain its client’s trust. To that end, The Star Entertainment Group unveiled a remediation program, saying that it is ready to do better. While the company realizes the challenges it is currently facing,  its team is not ready to give up yet.

Canadian iGaming leader Kings Entertainment Group has joined forces with Native Ads for a new marketing campaign. Per the agreement, the New York-based agency will help the operator engage its customers with customized digital advertisements.

Kings Entertainment Hires Native Ads for an Ad Campaign

Native Ads will leverage its capabilities to create a new digital marketing campaign for its new client. Its job will be to promote the operator’s products and spread awareness of its offerings. As announced by the two parties, the new campaign will run for a whole year, thus helping Kings Entertainment’s content reach more bettors.

It was announced that the entire campaign will cost around $146,445 to make and distribute. This cost will include the creation of promotional content, search engine optimization and the distribution of the ads.

The campaign will launch later this quarter and will continue for twelve months. The exact timelines are still being discussed by the operator and Native Ads and will be announced at a later date.

The Campaign’s Timing Is Perfect, Budin Says

Kings Entertainment hopes that the new campaign will help its products gain traction. The company seeks to build familiarity and brand awareness by promoting its products across the digital space. Depending on the program’s success, Kings Entertainment might decide to extend the program. Depending on the performance, the operator might also opt to provide the program with a higher budget.

The chief executive director of Kings Entertainment, Steve Budin, believes that the campaign’s timing could not have been better. He shared that his team is thrilled to join Native Ads, which it considers to be an “international leader in digital marketing.”

Budin explained that Kings Entertainment’s primary goal is to leverage the current momentum of his company’s fan-favorite brands and further bolster it with a comprehensive digital campaign.

Kings Entertainment operates popular gambling brands such as LottoKings and WinTrillions. The Canadian gambling juggernaut is steadily expanding its global business with key strategic moves, such as the recent M&A deal with Sports Venture Holdings. In late September this year, the operator conditional approval from the Canadian Securities Exchange, allowing it to proceed with the monumental deal.

The SVH agreement is several months in the making and was first announced in May when Kings Entertainment unveiled the merger plans. SVH notably operates Bet99, which is one of the largest casino and sports betting brands in Canada. The deal, therefore, means a lot for Kings Entertainment, which will be able to further expand its business.

New Zealand’s only racing and sports betting agency, TAB NZ, released its latest trading update, revealing figures for its performance in September this year.

TAB NZ Reveals Data for Performance in September

The agency revealed that the trading update for September 2022 is the second monthly trading update as a part of the 2022/2023 financial year. Judging by the recent figures, TAB NZ’s reported profit in September hit NZ$11.3 million ($6.6 million) or NZ$1.2 million ($697,000) below budget. Additionally, TAB NZ released details regarding its operating expenses that in September were NZ$0.1 million ($58,000) above budget, hitting NZ$10.5 million ($6.1 million).

More details released by TAB NZ reveal the year-to-date profit for the agency. According to the latest figures, the year-to-date reported profit hit NZ$21.7 million ($12.6 million), making it NZ$2.5 million ($1.5 million) below budget. On the other hand, TAB NZ’s year-to-date operating expenses increased to NZ$21.0 million ($12.2 million). This marked NZ$0.5 million ($290,000) above budget.

The agency’s latest report also unveiled data regarding its gross betting revenue (GBR) and gross betting margin (GBM). TAB NZ revealed that its turnover was NZ$212.7 million ($123.6 million), down NZ$4.4 million ($2.6 million) or 2.0% below budget. What’s more, GBR hit NZ$33.6 million ($19.5 million), down by 3.4% or NZ$1.2 million ($698,000 million) on budget, while GBM was 15.8% or 0.2% below budget.

“In September, the second month of the 2022/23 financial year, key performance results for TAB NZ were slightly down on the overall positive trends of the previous financial year. Turnover of $212.7m was 2.0% ($4.4m) below budget. GBR of $33.6m was down on budget by 3.4% ($1.2m) and GBM of 15.8% was 0.2 percentage points below budget,“

explains a statement released by TAB NZ

The recent results aren’t what was expected, considering the disappearance of COVID-19 restrictions. It was on September 13 when the New Zealand Government eased all restrictions related to retail and hospitality. This resulted in an increase in traffic for TAB NZ’s retail locations.

“While the easing of mask restrictions had a positive impact on retail traffic, other factors – including the continuing soft economic conditions, abandoned race meetings, and another month of a drop in starters across all three racing codes – contributed to the above results,“

added TAB NZ

However, the company said that the financial results were still impacted by other factors such as abandoned race meetings and economic conditions. Last but not least, TAB NZ revealed that its board will “continue to factor in the current domestic and global financial climate, and the potential impact of any further ongoing trend of a drop in starter numbers as it assesses future distributions in the 2022-23 financial year.”

UK and Irish horse racing fans can rest easy, as UK Tote recently announced that it would extend its agreement with North American content provider XB Net. The pool betting operator has secured broadcasting and betting rights for nearly all high-profile stateside races to continue providing its clients with excellent, engaging content.

UK Tote Invests in Innovation

UK Tote Group owns and manages the Tote, UK’s most prominent pool betting operator since its inception in 1928. It maintains a presence at nearly all racecourses in the UK and successfully branched out online. 

The company has recently begun investing heavily in innovation, partnering with technology providers to bring horseracing into the digital era. To that end, the operator also made some key appointments in 2022, hoping to expand its product offerings and improve its betting platform. UK Tote has realized that it needs to diversify its offers and add more traditional sports to attract a broader audience. However, horse racing remains a clear priority, as demonstrated by the recent deal with XB Net.

Fans Will Enjoy Thrilling US Races

Thanks to the newly resecured North American racing content, UK Tote will be able to fill out its daily offerings with high-quality US races. XB Net has an extensive network covering more than 60 North American tracks and provides live feeds, data, and betting services. The time zone difference means that UK and Irish bettors can naturally transition between local and overseas content and enjoy the authentic US racing experience. As an immediate benefit, fans will be able to enjoy The Breeders’ Cup World Championships in Keenland, running on November 4-5.

XB Net senior VP Simon Fraser stated it was a privilege to continue partnering with a distinguished operator like UK Tote. He lauded the British company’s efforts to reach a contemporary audience and expressed confidence that XB Net’s quality content would continue to be well-received.

We can’t wait to see how our comprehensive package continues to perform for the Tote over a range of coming attractions this winter. 

Simon Fraser, senior vice-president at XB Net

Fraser also used the opportunity to highlight XB Net’s ability to boost audience engagement with live, premium daily sport, advancing the company’s mission to safeguard the future and relevance of horse racing during a challenging economic period.

Customer Engagement Remains a Core Value

UK Tote expressed a similar sentiment to XB Net, reaffirming its continued efforts to elevate the experience for its customers. UK Tote Group CCO Jon Knapman noted that home audiences were already starting to see the value in US content, which was enjoying rising popularity.

As a leading player in pool betting, we want to provide our customers with the biggest global pools and for them to be able to bet on the best racing in the world.

Jon Knapman, chief commercial officer at UK Tote Group

Knapman lauded the quality of XB Net’s content and promised thrilling new experiences. The agreement signals the continuation of UK Tote’s modernization efforts. Despite being a historic and well-liked institution, failure to keep up with the ongoing shift towards online services could quickly alienate even its core audience. However, the company appears to be in capable hands as it tries to capture the success and reach of modern sportsbooks.

Owner, operator, and developer of integrated entertainment reports and casinos in Macau SJM Holdings Ltd has published the financial results for the third quarter of 2022 along with a series of selected unaudited key performance indicators for the nine months that ended 30 September. The parent company of concession holder SJM Resorts has reported a significant 60% drop in its net gaming revenue on a year-on-year basis, from HK$2,276 million in Q3 2021 to HK$913 million in Q3 2022. The company also marked a net loss of HK$1.90 billion ($242.0 million) for the same quarter, mainly caused by China’s ongoing and strict zero-COVID policy.

Travel Restrictions & Quarantine: Culprits for the Revenue Fall

In July, a local outbreak of COVID-19 forced all gaming venues and casinos in Macau to shut down their activities for 12 days. At the moment, travelers to Macau are gradually allowed to re-enter the premises. Nonetheless, the heavy restrictions have taken a toll on many gaming companies in the first nine months of the year. SJM Holdings’ chief executive officer and chairman Dr. Ambrose So considered the decrease in net gaming to be a direct result of the current restrictions on travel along with the ongoing Covid-19 quarantine requirements imposed by mainland China. The figures for this year’s third quarter have shown a sharp contrast compared to 2021’s figures of HKD2,276 million ($289.940) in relation to the same net gaming loss. 

SJM’s adjusted EBITDA also suffered a HK$968 million ($123.3 million) drop, which represented more than double the EBITDA amount of HK$460 million ($58.6 million) that was recorded by the company in the third quarter of 2021. 

Integrated Resort Figures 

The group’s integrated resort Grand Lisboa Palace became accessible to the public in July 2021. The resort reported gross revenue of HK$115 million ($14.7 million) which incorporated a gross gaming revenue of HK$46 million ($5.9 million) and revenue from non-gaming activities of HK$69 million ($8.8 million). When compared with last year’s third quarter numbers of HK$69 million ($8.8 million) for gross gaming revenue and HK$59 million ($7.5 million) for non-gaming revenue, growth is visible. As for the adjusted property EBITDA for the same integrated resort, the group has reported a loss of HK$227 million ($28.9 million), as compared to last year’s Q3 adjusted property EBITDA of HK$176 million.

Peninsula property Grand Lisboa reported gross gaming revenue of HK$101 million ($12.9 million), signaling a drop from last year’s Q3 figures of HK$607 million ($77.3 million). At the same time, Grand Lisboa reported HK$25 million ($3.2 million) in non-gaming revenue compared to HK$44 million ($5.6 million) obtained last year, and an adjusted property EBITDA loss of HK$223 million ($28.4 million).SJM reported HK$4.54 billion ($578.4 million) in cash and bank balances, as well as short-term and pledged bank deposits, along with a debt of HK$26.8 billion ($3.41 billion) in debt at the end of the third quarter.

At the end of September, SJM appointed Daisy Ho as managing director of SJM Resorts.

The sports betting handle and revenue in Rhode Island continued to climb up last month, data released by the gambling regulator reveals.

Sports Betting Revenue Soars, Handle Increases Slightly

The gambling regulator in the state, the Rhode Island Lottery, has announced the latest data for the performance of mobile and land-based licensed sports betting operators in September. The revenue reported by sportsbook operators in August surpassed $3 million for the first time since March. Now, in September, the combined revenue reported by the land-based sportsbooks and mobile operations hit $6,361,823, more than double what was reported a month earlier, in August. A year-over-year comparison shows that revenue this September soared considering that in September last year, it halted at $4 million.  What’s more, the $6.4 million result this September marked the second-highest revenue reported in Rhode Island, surpassed only by the $6.7 million result from November 2021.

The increase in revenue was positively impacted by a higher betting handle. Overall, the combined betting handle by sportsbooks in Rhode Island in September hit $41,670,257. This marked a significant increase when compared to the $27.7 million result reported a month earlier, in August. However, the $41.7 million in betting handle reported this September marked a slight increase when compared to the $41.2 million reported during the same period last year.

Mobile Betting Gets Lion’s Cut of Revenue

The gambling regulator in the state unveiled a breakdown of the $6.4 million in betting revenue reported this September. Not unexpectedly, the bigger part of the revenue was reported by mobile sports wagering operations. In total, mobile betting revenue last month hit $3.6 million. When compared to the $1.6 million in mobile betting revenue reported in August, the result from September marked an increase of nearly 124%.

Despite mobile betting reporting most of the revenue last month, the two retail locations, Twin River and Tiverton Casino also saw an increase in revenue. The Twin River venue reported $9.9 million in betting handle last month, which translated to $1,597,193 in revenue. When compared to the $866,413 in revenue reported a month earlier, in August, the result from September marked an increase of 84.3%. Additionally, the result from September slightly surpassed the $1,349,600 in revenue reported in September last year.

Similarly, Tiverton Casino’s sports betting handle increased in September to $4,943,538. This brought $1,117,254 in revenue for September for the gambling venue. This result completely surpassed the $504,225 reported in revenue a month earlier, in August. A year-over-year comparison also showed that Tiverton Casino’s sports betting revenue increased by nearly 89%, considering that in September 2021, it halted at $591,239.

Carsten Koerl, founder and CEO of global sports technology company Sportradar, was named Entrepreneur Of The Year at a gala event in Dübendorf, Switzerland. The high-profile award recognizes Koerl’s long-lasting achievements and history of success, elevating him among the best Swiss entrepreneurs.

Entrepreneur Of The Year is a yearly award by auditing and consulting company EY meant to honor the best among innovative and committed Swiss entrepreneurial personalities. The ceremony’s 25th edition saw around 400 guests and enjoyed extensive attention from viewers and employees on live streams.

According to the event’s organizers, the Entrepreneur Of The Year is about more than bragging rights. Winners enter a prestigious multi-industry community and receive lifetime access to the other members’ combined wisdom and experience, backed by EY’s substantial resources.

The CEO Is Already Looking toward the Future

2022’s winners were distributed in four categories. Carsten Koerl won the “Services & Commerce” award thanks to his efforts in elevating Sportradar into an industry giant that employs more than 3,500 people in over 20 countries.

Carsten Koer… has created a business empire out of a niche that has received far too little attention for a long time.”

Sascha Stahl, EY Program Partner

The event organizers lauded Koerl’s passion and tenacity as he managed to find an untapped market and build upon it with astounding success. The CEO remains committed to Sportradar’s continued growth and customer-centric approach. With a continued focus on innovation, he remains instrumental in developing new products and nurturing growth opportunities.

Commenting on the prestigious award, Koerl remarked that it honored the entire Sportradar team as much as himself.

I am proud that we are recognized for the impact that our innovative and visionary technology products have on the sports ecosystem.

Carsten Koerl, Sportradar founder and CEO

Koerl added that despite its rich history, his company was only beginning its journey. According to the industry veteran, the convergence of the sports, media, and betting industries would bring significant growth opportunities, placing Sportradar in the perfect position to capture the newly emerging opportunities.

A History of Success and Innovation

The Entrepreneur Of The Year is yet another significant achievement in Koerl’s career. After graduating with a Master’s Degree in Electronic and Microprocessor Engineering from the University for Applied Sciences in Konstanz (Germany), he honed his management skills in the software development and gaming industry. In 1997, he made his first break in the sports data space and founded Bwin, which enjoyed an extremely positive launch on the Vienna stock market.

The most defining moment of Koerl’s career undoubtedly has to be the founding of Sportradar in 2001. Over the next 21 years, he grew the company from another start-up to a global sports data and technology leader. The company now services over 1,700 clients worldwide, partnering with major leagues and organizations to cover 92 sports. Its investors include high-profile names like Michael Jordan, Todd Boehly, Ted Leonsis, and Mark Cuban.

Image Source: Blueprint Gaming