Authentic Gaming

Live roulette specialists Authentic Gaming has strengthened its senior management team with the appointment of industry veteran Oliver Reid as chief operating officer.

Boasting over two decades of experience in the gambling sector, working across online, live dealer, land-based operations, business intelligence and product development, the move comes as the firm eyes global expansion.

As operations chief, Reid will be responsible for accelerating and enhancing the customer onboarding process, bolstering the customer operations departments and overseeing studio expansion.

Jonas Delin, CEO of Authentic Gaming, said: ““I’m very pleased to bolster what is already an incredibly strong management team.

“Authentic Gaming has a “player first” mentality and this, coupled with Oliver’s 20 years’ experience in Land Based and Online live table gaming operations, we will be ideally placed to further enhance, and optimise the overall player experience.”

Scientific Games Corporation

Eileen Moore Johnson is to join Scientific Games as executive vice president and chief human resources officer, where she will oversee the company’s global human resources organisation and report directly to president and CEO Barry Cottle.

Moore Johnson joins Scientific Games from Caesars Entertainment where she served as regional president of The Cromwell, Flamingo, Harrah’s and The LINQ resorts, overseeing more than 7,000 employees and operations at four Strip’s properties. During her career with Caesars she also held leadership roles at Horseshoe Southern Indiana and Harrah’s New Orleans.

“We are absolutely thrilled to welcome Eileen to our team. Not only is she a leading advocate for diversity, equity and inclusion in our industry, Eileen also believes in the strategic growth and power of human capital to inspire teams to work together to deliver world-class results. She brings a wealth of knowledge and insight to this role that will elevate our entire team,” said Cottle.

Jamul Casino

California’s Jamul Casino has promoted Benjamin Petell to the role of vice president of non-gaming operations after joining the property a year ago as director of food, beverage and retail.

In his new role at Jamul Casino, Petell will oversee retail, food & beverage, facilities, security, and environmental services. His focus will be on creating alignment across all departments by emphasising teamwork, communication, and consistency.

Mary Cheeks, Jamul Casino president and general manager, stated: “When we recruited Ben a year ago, we knew he had great potential. We’re excited to recognise his drive, creativity, and deep knowledge of the food & beverage and gaming industries, and offer him this well-earned promotion.”

Sportech

Sportech has announced several key changes to its Bump 50:50 team, including the promotion of Dave Kurland to the position of president, as the firm aims to create the charitable raffle industry’s “most experienced and innovative leadership team”.

The company has also announced the elevation of key commercial team members to senior roles to align with Bump’s growth and online raffle expansion strategy.

Dennis Sampier has been named vice president of Bump Nonprofit Division to spearhead the continued growth of non-sports related charity clients.  Jeff Schultz has been named as vice president of Bump Sports Division, where he will focus on delivering platforms and services for in-stadia and web-based 50/50 raffles.

Richard McGuire, CEO of Sportech, explained, “We are delighted to strengthen our Bump 50:50 team with an unmatched group of specialists who, combined, bring decades of direct experience in the sports, raffle and nonprofit fundraising sector. This team have been pivotal to the growth of Bump. Their dedication to client service and product innovation aligned with the highest level of integrity continues to deliver impressive results and stronger relationships.

“Sportech continues to invest in Bump’s talent, technology and infrastructure and as a result the division is recording unparalleled client growth, particularly online and with nonprofit organisations. I can think of no stronger professional than Dave Kurland to lead the division and of no greater commercial and technical team of dedicated professionals to propel Bump 50:50 forward.”

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IGT

Massimiliano Chiara has been appointed executive vice president and chief financial officer of International Game Technology that is to be effective from April 6, 2020.

Furthermore, Chiara has also been appointed to IGT’s board of directors effective as of the first IGT board meeting after April 6, 2020, or as of the 2020 AGM, if earlier and subject to shareholder vote.

He joins the firm from CNH Industrial NV, where he most recently served as CFO and chief sustainability officer, as well as also holding various financial and operational roles at Fiat Chrysler.

“We are excited to have Max join the IGT team, both as a member of my senior leadership team and as a board member,” stated Marco Sala, IGT CEO. “His broad and deep background in all facets of global finance and operations, in addition to his high standards of excellence, will be tremendous assets to our organisation.” 

Furthermore, the company has also appointed Beatrice Bassey as an independent director effective March 20, 2020. Bassey is currently group general counsel, chief compliance officer and corporate secretary of Atlas Mara. 

W2

Regulatory compliance solutions provider W2 has announced the appointment of Peter Murray to head up their global sales teams, as the industry enters “a challenging period for regulated markets”.

Murray, who was previously head of gaming at GBG and director at Alexem Services, the identity consultancy, comes in to support and drive business across core regulated markets with a focus on the gambling and financial services sectors.

Warren Russell, W2 CEO, explained: “Peter’s experience with operators, regulators and industry stakeholders globally will be invaluable to us as we look to ensure the services we provide evolve to meet the needs of our clients in a rapidly changing world. 

“Identity is no longer static and time stamped but dynamic and ever changing and I believe Peter will provide not only guidance and support as our teams collaborate on our existing solutions, but also help deliver on our ambitious product roadmap and growth plans.

Sportech

International betting technology firm Sportech has revealed that latest strengthening of its ranks after appointing Ben Warn to its board as a non-executive director.

Warn boasts more than 20 years’ experience in senior positions in the betting and gaming industries including UKbetting PLC, Sky Betting and Gaming, and the Perform Group, where he was chief executive of the gaming division. He will join the board on June 1, 2020.

Giles Vardey, non-executive chairman of Sportech, said: “Given the many challenges all businesses in our sector are facing, we are pleased to have Ben Warn joining our board with his broad gambling experience and his online product development and technology expertise.”

William Hill

William Hill has confirmed that Adrian Marsh, the group finance director of DS Smith has informed the company that, given the current unprecedented circumstances, he intends to remain as DS Smith’s GFD and will not now be joining William Hill. 

Ruth Prior, who is currently serving out her notice period, will continue in her role as William Hill’s chief financial officer. The Company has immediately recommenced the search for a new CFO.

Roger Devlin, chairman of the board, commented: “Whilst we note the reasons for Adrian’s decision, William Hill is focussed on taking the necessary steps required in these unprecedented times to protect the interests of its stakeholders. We will provide an update in due course.”

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This comes after Connecticut Governor Ned Lamont last week officially authorised the full launch of online sports betting and igaming within the region

This permitted the CLC, Mohegan Tribe and the Mashantucket Pequot Tribe to commence with sports wagering, with each tribe also able to facilitate the offer of online casino.

The trifecta are the only permitted entrants to the state’s online sports betting ecosystem, after teaming-up with Rush Street Interactive, FanDuel, and DraftKings, respectively.

“This has been a long time coming for Connecticut players, and we’re honoured to be the only state-wide retail operator,” said Greg Smith, president and CEO of CLC.

“Together with our partners Rush Street Interactive and Sportech Venues, we can offer bettors world-class, in-person sportsbooks at accessible locations throughout the state and mobile sports betting under the PlaySugarHouse brand.”

Sports Haven in New Haven has become the first venue to welcome players, with further retail sportsbooks at Bobby V’s Restaurant & Sports Bar locations in Stamford and Windsor Locks to commence operations in the coming days.

These will offer a full suite of entertainment options, including wall-to-wall TV monitors, odds boards, food and beverage menus, as well as the opportunity for fans to wager on their favorite sports, leagues and players.

The PlaySugarHouse retail sportsbooks will expand to seven additional Sportech locations in Hartford, Manchester, Waterbury, Torrington, New Britain, Milford, and Norwalk throughout the coming weeks. The Connecticut Lottery and RSI are authorised to operate up to 15 branded retail sports wagering locations.

“We are thrilled to roll out the PlaySugarHouse retail sportsbooks in the state of Connecticut alongside the Connecticut Lottery and Sportech,” added Richard Schwartz, chief executive officer of RSI. 

“By combining the Connecticut Lottery’s brand recognition and retail presence throughout Connecticut, Sportech’s easy-to-access venues, and RSI’s market proven products and services, we look forward to delivering convenient and exciting sports betting options to PlaySugarHouse players across the state.”

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98.6

Gaming giant Evolution has taken its total holding in NetEnt to approximately 96.8 per cent of the outstanding shares and 98.6 per cent of votes, confirmed the group upon expiry of the extended acceptance period for the offer.

The new company will operate as a single organisation under the Evolution banner, following its corporate brand change in early October, and will continue to offer products under the four brands of Evolution, Ezugi, NetEnt and Red Tiger.

Evolution confirms that it has ‘initiated a compulsory buy-out procedure in accordance with the Swedish Companies Act for the purpose of acquiring those shares not submitted in the offer’.

Furthermore, NetEnt has also applied for the delisting of its shares from Nasdaq Stockholm, with the last day for trading to be published when the stock exchange has made a decision.

Documenting the make-up of the enlarged company further still, Evolution has initiated ‘a total reorganisation and integration’ of NetEnt. This restructuring has also led to a ‘streamlining of the business’ within the development of slots games, as well as the NetEnt Live business proposition closing down.

95

Flutter Entertainment is to take its stake in FanDuel to 95 per cent, after announcing a $4.175bn (£3.131bn) conditional agreement to acquire the 37.2 per cent interest in the group that is currently held by Fastball. The remaining five per cent will continue to be held by Boyd Gaming.

The global gaming and sports betting group, which is increasing its ownership in FanDuel from 57.8 per cent, is to fund the deal with a combination of $2.088bn in cash and the issuance of 11.7 million ordinary shares. Flutter has also announced its intention to conduct a £1.1bn equity placing.

Flutter, which says that the deal is conditional on shareholder approval, comments that the translation materially increases its exposure to a US market that it asserts is ‘the most attractive sector opportunity today’. The deal terminates Fastball’s economic interest in Fox Bet.

2,000

Norsk Tipping has introduced a raft of temporary measures across its ‘high-risk’ games, including a 25 per cent reduction in the maximum monthly loss limit.

Introduced to ‘curb risky gaming activity in the short term,’ this move will see customers accessing KongKasino, eFlax, Bingoria and Yezz be permitted to lose up to NOK 7,000 (£592) per month.

Furthermore, the maximum daily loss limit on these games has also been reduced by 50 per cent to NOK 2,000 (£170), with the length of mandatory break after one hour of continuous play increasing from 90 seconds to 15 minutes.

The ‘popular’ label on selected online casino games will also be removed, with marketing by text message and email to customers in the 18-25 years age bracket to cease.

3

888 Holdings has unveiled three multi-year market access agreements in the US, as the group raises full-year expectations due to a continued strong operational performance throughout the second half of the year.

Representing the latest milestone’s in the group’s strategic US growth strategy, launches across Colorado, Indiana and Iowa, initially via the 888Sport brand, will commence during 2021.

In the former of those 888sport will debut under the licence of the Colorado Grande Casino based in Cripple Creek, the Hoosier State sees an agreement secured alongside Harrah’s Hoosier Park, which is owned by Caesars Entertainment, while an Iowan debut will take place under the licence of Catfish Bend Casinos.

As well as unveiling plans to increase its US presence to six states, 888’s board anticipates that full-year revenue will finish 45 per cent ahead of 2019’s $560.3m.

56.2

BetMakers has entered into binding agreements to acquire global assets of international online sports betting company Sportech for AU$56.2m, in a move which is designed to ‘supercharge’ its entry into the US.

Considering the acquisition to be transformational for the firm’s financial and growth prospects, the purchase includes an Americas tote business that provides betting solutions, hardware and operational services to over 200 racetrack, casino and betting venues to more than 50 customers in the United States, Canada and Latin America.

The deal also includes a digital business that provides white-label betting solutions to more than 25 customers in North America; a UK and European tote business that serves more than 35 customers across the UK, Ireland, Europe and Asia; and Quantum tote technology.

250

Resorts World Casino New York City has announced that it has generated in excess of $3bn for New York’s Lottery education fund since opening its doors in October 2011.

During its nine-year existence the property has generated enough revenue to fund 12 million laptops for students (based on $250 cost), or 37,500 public school teacher salaries for a year (based on New York average of $80K), or fully fund public education for 150,000 students for one school year (based on $20,000 average cost per year), or supply 6,082,725 students with school lunch for an entire school year (based on $2.74 average cost nationwide).

The New York Lottery contributed $3.38bn in the 2019/20 fiscal year to help support education in the state, of which RWNY generated $348m, a figure it says represents a ‘greater share than any of the other video gaming operators’ in the jurisdiction.

This revenue is used to support education across more than 700 school districts in New York State, distributed via a statutory formula that provides larger shares of funding to lower-income school districts.

2.5

The government of Gibraltar has imposed multiple fines totalling £2.5m across its gambling sector following a ‘thematic review’ by the country’s Gambling Division.

Having identified weak processes and controls related to ensuring AML protections, the Gambling Division noted within its assessment that operators had ‘worked collaboratively’ with its investigation to rectify ‘generic system weaknesses that are common to more than one operator’.

The Gibraltar government confirmed that fine proceeds totalling £2.5m would be distributed to the ‘Gibraltar Gambling Care Foundation’ – to support the use of training initiatives at the Gibraltar University in AML and social responsibility by their employees.

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Considering the acquisition to be transformational for the firm’s financial and growth prospects, the purchase includes an Americas tote business that provides betting solutions, hardware and operational services to over 200 racetrack, casino and betting venues to more than 50 customers in the United States, Canada and Latin America. 

The deal also includes a digital business that provides white-label betting solutions to more than 25 customers in North America; a UK and European tote business that serves more than 35 customers across the UK, Ireland, Europe and Asia; and Quantum tote technology.

“This acquisition will supercharge our entry into the US and position the company for substantial growth on the back of the emerging wagering opportunities in US racing, including fixed odds, where we believe we are well placed,” explained Todd Buckingham, BetMakers’ managing director. 

“The acquisition would give us a meaningful presence in the US, including in 36 of the States and across more than 200 venues, 25 digital outlets and 9,000 betting terminals. 

“It will also greatly expand our global customer base across the UK, Europe and Asia and provides us with an opportunity to expand our product offering at scale in these and other regions. 

“The acquisition of Sportech assets and the momentum we are seeing in the BetMakers’ business during this current financial year places the company in an extremely strong growth position.”

The proposed purchase of Sportech’s racing and digital assets in the US, UK and Europe is intended to accelerate BetMakers’ international growth plans, via a significantly expanded global customer base and strategic position to fully capitalise on emerging opportunities in the US.

BetMakers asserts that the deal will deliver substantial revenue and EBITDA, stating that, on a pro-forma basis for FY20, the tote and digital business, combined with with existing operations, would have delivered AU$56.1M revenue and AU$7.7M EBITDA (compared with BetMakers’ stand-alone of AU$9.2M revenue and AU$800,000 EBITDA).

Buckingham added: “BetMakers believes its approach to technology innovation, integrity and servicing customers with wagering solutions can help grow racing globally for everyone in the ecosystem.

“This includes racing bodies, participants and wagering operators as well as power the excitement of racing as the leading option in a competitive sports betting market. 

“Whilst the acquisition is subject to approval by Sportech’s shareholders and other customary conditions, we are pleased that the board of Sportech has indicated it will recommend its approval.”

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