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Business
July 2, 2021
DraftKings, FanDuel Continue Connecticut Operations via Provisional Licenses
After Connecticut expanded gambling via a new bill which came into effect on Thursday this week, concerns were raised about how FanDuel and DraftKings may continue their fantasy sports operations. The Department of Consumer Protection issued provisional licenses for the two operators as well as the Connecticut Lottery Corporation, allowing them to continue operating in […]
Business
July 2, 2021
Kindred Group Acquires Outstanding Shares at Relax Gaming
Kindred Group announced today it signed an agreement to buy the outstanding shares of online gaming supplier and third-party aggregator Relax Gaming. Payments Spread over 3 Years Kindred will pay initial cash consideration of €80 million ($95 million), out of a total value of €295 million ($350 million) for the outstanding 66.6% of shares, upon […]
Business
July 2, 2021
Attorneys Tell Virginia Skill Games Operators to Hold off on Pulling the Plug
Many skill games operators in Virginia had their hands on the power cord, ready to yank the machines out and throw them in the dumpster. Lawmakers approved a controversial measure that brought an end to the one-year trial of the slot machine cousins, but now lawyers are telling operators to hold on. Several legal battles […]
Business
July 2, 2021
Donaco International Finds Last-Minute Resolution to Cover Outstanding Debt
When Donaco International Ltd. picked up $100 million from Mega Bank in 2015 to finance its casino expansion plans, it didn’t expect that, right around the corner, was waiting a series of problems that would make it nearly impossible to keep up with the loan’s repayment scheme. Since then, the Australian-listed operator, which is behind […]
Business
July 1, 2021
Bally’s Strikes Groundbreaking Deal with WNBA Phoenix Mercury
Bally’s Corporation, an omnichannel gaming and entertainment services provider, signed a long-term deal with Phoenix Mercury to mark its first market entry via a professional women’s sports team. Exclusive Sports Betting Partner The 15-year agreement between Bally’s and the member of the Women’s National Basketball Association (WNBA) Phoenix Mercury covers team sponsorship and partnership in […]
Business
July 1, 2021
Spotlight Sports Adds Crossword’s Rizikon Pro Management Platform
Crossword Cybersecurity’s risk management platform Rizikon Pro was implemented by Spotlight Sports Group. Thanks to the platform, Spotlight Sports reduced the time spent on supplier onboarding in half, while at the same time ensuring compliance. Spotlight Sports Integrates Rizikon Pro Digital publisher Spotlight Sports Group has implemented Crossword Cybersecurity’s innovative supplier assurance and third-party risk […]
Business
July 1, 2021
Melco Resorts Boss to Launch SPAC-based IPO in the US
The use of a special purpose acquisition company (SPAC) in order to gain access to a public exchange has picked up steam over the past couple years, especially in the gaming industry. It’s how companies like DraftKings, Super Group Holding Co. and others have been able to target a wider pool of investors. A new […]
Business
July 1, 2021
Vegas-Based Union Gaming Purchased by Real Estate Brokerage
Union Gaming has been intrinsically tied to the gaming industry since it was founded 13 years ago. The investment banking firm came about as the so-called Great Recession was taking hold and consumer activity was on the decline, but it proved to be resilient and was able to weather initial challenges. Company analysts have often […]
Business
June 30, 2021
Powerball to Increase Drawings, Monday Draw Starts in August
Drawings of the most popular US lottery – the Powerball – will increase in August. Powerball currently has drawings on Wednesday and Saturday, but starting August 23, a Monday draw will be introduced. Most Popular US Lottery to Increase Drawings America’s favorite lottery game, Powerball, revealed that it will be expanding its drawings this summer. […]
Business
June 30, 2021
End of Wire Act Debate Good News, According to Gaming Industry Lawyers
For almost 50 years, the US federal government applied the Federal Wire Act only to online sports gambling, not to other forms of gambling, in terms of allowing states to establish interstate revenue-sharing agreements. The Department of Justice (DOJ) then decided it wanted to create its own view of the Wire Act, which didn’t go […]