The largest casino-entertainment company in the United States and operator with one of the most diversified casino-entertainment providers in the world, Caesars Entertainment, announced the completion of the acquisition of WynnBET’s iGaming business in Michigan. The move represents a major expansion of the company in an important online gambling market.

Besides acquiring WynnBET’s iGaming operations, Caesars also closed a long-term extension of an iGaming market access deal with the Sault Ste. Marie Tribe of Chippewa Indians.

Upon announcing the completion of the acquisition, the company said that existing WynnBET brand users won’t experience any interruptions. Assuming the ownership of the WynnBET iGaming business in the state, Caesars said that it plans to keep the existing platform’s name, at least for the moment.

Eric Hession, Caesars Digital’s President, acknowledged the importance of the latest announcement. He thanked the gambling regulator in the state, the Michigan Gaming Control Board, as well as the Sault Ste. Marie Tribe of Chippewa Indians, for their efforts that ultimately resulted in the closing of this landmark acquisition.

“Caesars Entertainment would like to thank the Sault Ste. Marie Tribe of Chippewa Indians and the Michigan Gaming Control Board for their collaboration through this process.“

Eric Hession, president of Caesars Digital

Transitioning from WynnBET to a New Brand Expected Later This Year

Although initially, Caesars will retain the existing platform by using the WynnBET brand in Michigan, the company hinted at the possibility of introducing a new online casino brand. Once this is completed, the company said it will proceed with the transitioning of the existing WynnBET customers to the new iGaming brand.

Still, Caesars confirmed that such a move remains subject to the relevant regulatory approvals. The company disclosed that it expects to complete the aforementioned processes at some point during the second half of this year.

Still, a solid date or an exact name for the new iGaming brand in Michigan was not disclosed.

Recently, Caesars’ shareholders rejected a proposal to study the benefits of going smoke-free. The announcement came despite the growing opposition from anti-smoke organizations who have repeatedly raised concerns about the negative impact of smoking on casino patrons and employees.

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US hospitality giant Hard Rock International has denied rumors that it is planning to make a bid for the Australian casino giant The Star Entertainment Group. The speculations ran wild after some reports that a consortium of parties including Hard Rock’s Pacific branch had supposedly expressed interest in the embattled Australian company.

Hard Rock International to Take Legal Action Amid Acquisition Speculations

In a recent statement, Hard Rock International noted it is perplexed about these claims. The company emphasized it has not authorized any discussions or negotiations in connection with a potential acquisition of The Star, reported The Australian. 

Hard Rock International further added that it is going to take legal action to protect the reputation of its brand as no third parties have been authorized to associate Hard Rock with a potential bid for The Star. The company also highlighted that only official company communication channels should be utilized for accurate information. 

The Star Entertainment Group announced earlier that external parties have indeed expressed interest in acquiring the company. However, The Star noted that there were no substantive discussions in connection with the proposal. 

Still, The Star provided information that part of the consortium that expressed interest was a local partner affiliated with Hard Rock International.

After the initial announcement from The Star, the company shares surged but following the statement dismissing the association of Hard Rock International with any potential bid drove the share price down again.  

The Star Faces Scrutiny: Second Probe Into Casino License Suitability

The Star has been embroiled in a long-lasting investigation into violations of anti-money laundering rules and ties with Asian junket operators. The company is still under scrutiny from Australian gambling regulators.

The company is currently facing a second investigation into its suitability to hold a New South Wales casino license. This is due to governance and compliance issues, which were uncovered during the first Bell report. The initial investigation into The Star led to many implications for the gambling operator, including a record fine.

Now the company has six months to prove its suitability and prevent permanent license loss. According to plans, The Star will implement remediation measures. The Bell Two inquiry will focus on financial obligations and remediation efforts with hearings held in camera. The results will help the New South Wales Independent Casino Commission (NICC) make a decision regarding the future of the embattled operator.

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Fanatics Betting and Gaming has officially completed its acquisition of PointsBet’s US operations, marking a significant expansion in New Jersey where it has now gone live. This latest development brings Fanatics’ sportsbook services to all 20 states where PointsBet was previously active, covering approximately 95% of the US online betting market.

The acquisition, valued at $225 million, was finalized in April 2024 following an agreement made last year. As part of the transition, all existing PointsBet customers in New Jersey will have their usernames, passwords, account balances, rewards points, and responsible gaming settings seamlessly transferred to the Fanatics Sportsbook platform.

Expanding Casino and Sportsbook Operations

New Jersey also becomes the fourth state where Fanatics has introduced its online casino, featuring a variety of games including roulette and slots. The Fanatics Sportsbook is already operational in states such as Arizona, Colorado, Connecticut, and many others, while the Fanatics Casino is available in Michigan, Pennsylvania, and West Virginia.

Strategic Acquisition and Market Expansion

The journey to this acquisition began in June 2023 when Fanatics made an initial $225 million bid for PointsBet US, following a competitive bidding process that included a rival offer from DraftKings. Although DraftKings initially proposed a higher bid of $195 million, they later withdrew, allowing Fanatics to proceed with their acquisition plan. The deal was cemented when PointsBet shareholders approved the acquisition at a meeting on June 30.

Over the past year, Fanatics has systematically taken over PointsBet’s operations across various states, with Kansas and North Carolina being recent additions. This strategic expansion not only enhances Fanatics’ footprint in the US market but also strengthens its position as a leading provider in both sports betting and online casino services.

Fanatics now operates 19 retail locations, including exclusive sportsbooks at notable venues like Progressive Field and Nationwide Arena, and the unique distinction of running the only sportsbook inside an NFL stadium at Commanders Field.

This acquisition represents a major milestone in Fanatics’ strategy to dominate the sports betting and gaming industry across the United States, promising greater market reach and enhanced customer experiences across its platforms.

Source: “Fanatics concludes PointsBet takeover with New Jersey launch”. iGaming Business. May 8, 2024.

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Games Global, a leading iGaming supplier, secured a number of awards as ICE 2024 kicked off. In addition, the company has now completed its acquisition of DGC B2B from Super Group.

Games Global Scoops Up Three Prestigious Awards

Games Global was recognized at the International Gaming Awards 2024, securing three prestigious accolades. The company was named Slot Provider of the Year at the event at the Savoy Hotel in London, while its Snowborn Games subsidiary secured the Games Studio of the Year award.

In addition, Just for the Win’s Golden Fields slot game was named Game of the Year. Golden Fields is a critically acclaimed slot that has enjoyed industry recognition ever since its launch in May 2023. This is not the first time the studio has won an award either as it was named RNG Casino Supplier of the Year in 2023. Previously, the studio also grabbed the Game of the Year accolade thanks to its Scarab Kingdom game. Earlier still, the studio was named Rising Star of the Year in 2021.

Walter Bugno, Games Global’s chief executive, commented on the three new awards, saying that he is proud to see his company and its studios recognized.

Last year highlighted our ability to deliver unmatched products and experiences for players, from significantly enhancing our progressive jackpot portfolio to delivering a constant roll-out of diverse content that takes player journeys to a new level, and we are thrilled to be recognized by our industry peers at this prestigious event.

Walter Bugno, CEO, Games Global

For reference, 2023 saw Games Global launch more than 240, solidifying its position as a leading provider.

Super Group Is Happy to Have Completed the Sale of DGC B2B

In the meantime, Games Global just finalized its acquisition of Super Group’s Digital Gaming Corporation (DGC B2B). According to the former company’s announcement, the transaction was finalized on February 1, 2024, and followed the securing of all necessary regulatory approvals.

Games Global said that this acquisition attests to its desire to expand in the lucrative US iGaming market by constantly driving innovation and excellence.

Bugno also commented on this deal, expressing his team’s excitement about the acquisition. He noted that this move aligns with the company’s desire to become a leader in the US market and beyond.

This move not only strengthens our global position, it also allows us to further innovate and deliver incredible experiences to operators and their players.

Walter Bugno, CEO, Games Global

Super Group’s chief executive, Neal Menashe, also shared his thoughts on the deal, saying that he is pleased to have brought the sale to a close.

Going forward, our team can continue focusing on our global B2C growth. Games Global is a valued long-term partner of ours, and DGC’s B2B division is in good hands. We wish them all the best.

Neal Menashe, CEO, Super Group

Games Global boasts some 40 studios under its wing and offers over 1,300 in-house games. In addition to that, the company offers one of the industry’s highest-paying progressive jackpot networks and is poised to capitalize on the acquisition of DGC B2B.

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Better Collective announced that it has completed the acquisition of Playmaker Capital, a Toronto-based digital sports media group. This is notably Better Collective’s second-largest acquisition to date.

The deal saw Better Collective acquire all of Playmaker Capital’s issued shares for a consideration of CAD 0.70 per share. Better Collective covered this deal both in cash and Better Collective shares.

Following the completion, Playmaker Capital’s common shares are set to be delisted from the TSX Venture Exchange. In addition, the acquired company will apply to cease to be a reporting issuer.

Speaking of shares, Better Collective’s board decided to increase the company’s share capital with nominally EUR 17,554.29. As a result, a total of 1,755,429 new ordinary shares with a nominal value of EUR 0.01 have been issued.

Playmaker Capital will be consolidated into Better Collective’s financials as of February 6. Furthermore, Better Collective updated its 2027 long-term financial targets.

Better Collective Updates Financial Targets

The acquisition deal prompted Better Collective to revisit its 2027 long-term financial targets. According to the company’s report, its revised targets include a revenue CAGR of +20% and net debt to EBITDA below 3x.

While the aforementioned metrics remain unchanged, the acquisition of Playmaker Capital increased Better Collective’s confidence in reaching the revenue CAGR target.

In addition, Better Collective updated its EBITDA margin before special items guidance from 30-40% to 35-40%.

Executives Are Excited about the Deal’s Completion

Better Collective’s co-founder and chief executive officer, Jesper Søgaard, commented on the completed deal. He said that this is an important step towards Better Collective’s vision of becoming “the leading digital sports media group.

I look forward to welcoming the entire Playmaker team and its leading sports media brands to the Better Collective group and to realize the many synergies that lie ahead for our business.

Jesper Søgaard, co-founder & CEO, Better Collective

In the meantime, Jordan Gnat, Playmaker Capital’s co-founder and CEO, said that the deal signifies the start of the next phase of his company’s journey. He thanked the Better Collective team for the incredible confidence they have in what Playmaker Capital has to offer.

I would also like to thank all the Playmaker shareholders for their support of Playmaker and look forward to their continued support of Better Collective as together we become the leading digital sports media group.

Jordan Gnat, co-founder & CEO, Playmaker Capital

Better Collective’s business has been going from strength to strength, as demonstrated by the group’s strong financial results. With Playmaker Capital under its wing, the company remains bullish on meeting its long-term targets.

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Bally’s, the Rhode Island-based gambling company, finds itself in the crosshairs of federal and local authorities over the acquisition of the highly sought-after Chicago casino license. The processes leading to Bally’s securing the license have triggered simultaneous investigations by both the US attorney’s office and Chicago Inspector General Deborah Witzburg.

Unsuccessful Bidders Trigger Federal Inquiry into Chicago Casino License

The federal inquiry, reportedly prompted by complaints from unsuccessful bidders in the casino licensing process, has thrust the matter into the spotlight, reported real estate news outlet The Real Deal. 

Alderman Brian Hopkins, known for his consistent criticism of former Mayor Lori Lightfoot‘s management of the casino proceedings, confirmed the existence of the federal investigation. The US attorney’s office, however, has remained tight-lipped on the matter.

Concurrently, Chicago Inspector General Deborah Witzburg is conducting a parallel investigation, adhering to her office’s policy of not commenting on ongoing inquiries. 

Bally’s maintains that it is unaware of any investigation, and the city’s Law Department has clarified that neither they nor the mayor’s office have been subpoenaed or requested to provide information.

The investigations, according to sources, were initiated months ago, suggesting a prolonged and comprehensive examination of the casino licensing process. 

This development follows earlier controversies surrounding Bally’s, including alterations to financial deals with minority investors and discrepancies in fees charged to different bidders. Reports also highlighted potential conflicts of interest with city consultants evaluating financial prospects.

City Council Greenlighted Bally’s Casino Amidst Controversies and High Hopes

Despite these controversies, Bally’s secured City Council approval with a decisive 39-5 vote. The $1.7 billion project is anticipated to alleviate the city’s unfunded public employee pension liabilities. Bally’s opened a temporary casino in September at the former Medinah Temple, with construction on the permanent site expected to commence soon, aiming for an opening in late 2026.

The casino project, viewed by some city leaders as a potential financial savior, has been on Chicago’s agenda for decades, gaining serious traction only in 2020. 

Representing the area designated for the casino, 27th Ward Alderman Walter Burnett praised the accomplishment, expressing that it was significant. He remarked that it had been a pursuit spanning three administrations and emphasized that the current mayor had successfully achieved it.

At the same time, the opening of Bally’s casino in Chicago stirred concerns among addiction treatment experts who anticipate a rise in individuals seeking help for gambling disorders. Although there hasn’t been an immediate surge in cases, experts warn that the expansion of gaming facilities historically correlates with an increase in people seeking treatment for gambling problems. 

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La Française des Jeux (FDJ) has completed its acquisition of Premier Lotteries Ireland (PLI). Valued at over $400 million, the deal will expand FDJ’s presence in Europe and turn it into a major international company.

The deal was originally announced this summer when FDJ unveiled its plans to acquire PLI’s entire share capital.

PLI is the exclusive operator of Ireland’s National Lottery. The gambling company is set to operate the lottery for at least the next eleven years, with its current deal set to expire in 2034. For reference, the operator acquired the 20-year National Lottery license in 2014.

PLI also recorded a GGR of $427.6 million (current conversion rates) in 2022, donating approximately $279 million to over 4,000 deserving causes. FDJ, on the other hand, recently posted its latest report, highlighting Q3 revenue of $620.5 million and year-to-date revenue of $1.99 billion.

PLI Is Looking Forward to Enhancing the Irish National Lottery

FDJ’s chair & chief executive officer, Stéphane Pallez, commented on the agreement, saying that it marks an exciting new chapter for the French company, allowing it to step into the international spotlight. FDJ is ambitious to become an international powerhouse and cement its position as a leading gambling and lottery company.

According to Pallez, FDJ and Premier Lotteries Ireland share the same vision as they both want to provide players with recreational and responsible gaming offer to players in Ireland.

PLI’s chief executive officer, Andrew Algeo, also shared his thoughts, saying that this deal is a monumental moment for his company. He believes that the current acquisition will prove beneficial to both companies and the Irish lottery sector.

Algeo thanked PLI’s shareholders whose support has allowed the company to flourish and grow steadily and sustainably. He said that he is looking forward with FDJ on creating an Irish National Lottery that is better than it has ever been.

Speaking of M&A activity, FDJ recently confirmed the finalization of its acquisition of the leading online horse racing and sports betting operator, ZEturf Group. The acquisition of a horse racing company also highlights FDJ’s desire to diversify its product offering and revenue streams.

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Jelly Entertainment, the fast-growing UK-based iGaming developer, has announced the completion of the acquisition of Wundermachine, a leading provider of technology and social gaming content. The acquisition represents an important part of Jelly’s plan for growth and expansion on a global scale.

By acquiring Wundermachine, the company anticipates strengthening some of its strategic operations, including distribution, delivery, as well as engaging with fresh talent. Ultimately, the acquisition of the social gaming business-to-business (B2B) provider is expected to propel Jelly’s growth, allowing the company to solidify its position as a B2B supplier for the online gambling vertical.

Currently, Jelly’s content is renowned for its quality, engaging features and unique mechanics. An ongoing goal for the company is to deliver omnichannel entertainment with its creative and cutting-edge games. Thanks to the new acquisition, Jelly will boost its distribution capabilities, enabling it to reach customers across the globe via different channels.

Moreover, the takeover enables talent from Wundermachine to engage with Jelly’s dedicated and experienced employees. The acquisition will see Wundermachine’s employees retain their current office. With that in mind, the company’s real-money gambling and social gaming teams are going to actively collaborate with Jelly, helping it improve its growth strategies.

The latest announcement comes after this autumn, Jelly joined forces with Yggdrasil for the release of Beasty Blox GigaBlox, a new jungle adventure-themed slot with an RTP of 95% and 4,096 paylines. The engaging high-volatility slot, offering €250,000 max win invites the players on a thrilling adventure.

The Acquisition Brings Excitement to the Duo

Bjorn Kaufmann, Wundermachine’s CEO, explained that the company was created with the goal of developing unique products for the real-money gambling and social gaming vertical. Finally, he pointed out: “We’re passionate people, about what we do and how we deliver it. Together; we are certain that, as part of Jelly Entertainment, our teams will flourish.”

The acquisition of Wundermachine by Jelly comes at a time when the company continues to grow its portfolio of games. Jelly anticipates releasing Wicked Riches of Oz and Midas Riches, among other thrilling and engaging titles very soon.

“We are delighted to welcome the Wundermachine team into the Jelly Entertainment family.“

David Newstead, managing director for Jelly Entertainment

David Newstead, Jelly’s managing director, was excited about the latest acquisition. He predicted that Wundermachine would play a key role in Jelly’s growth across markets such as North and Latin America, as well as Europe. What’s more, Newstead said that the company is positioned well to grow exponentially in the next 12 months. Finally, he said that Jelly is looking forward to the benefits the new acquisition would bring.

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In a strategic move to bolster its presence in North America, OKTO, the Greece-based payments group, has announced the successful acquisition of Flexia Payments, a specialized fintech company headquartered in the United States. 

OKTO and Flexia Pioneer Digital Payments in North American Casinos

Flexia Payments, renowned for its innovative cashless system, is seamlessly integrated with key partners including WinSystems, Axes Information Management Systems, and CasinoTrac. The collaboration between OKTO and Flexia aims to accelerate the digital transformation of customer experiences in both gaming and non-gaming activities across various casinos and gaming venues in North America.

OKTO’s vice president of North America, Theo Engelis, expressed his enthusiasm about the partnership, stating: “This acquisition aims to place OKTO at the forefront of digital payment services provision in the North American land-based and online gaming markets via its omnichannel offering. We’re excited about this partnership, which marks a significant enhancement for both companies, and aligns with our ongoing cashless strategy in Europe and Latin America.”

The synergy between OKTO and Flexia will empower North American casinos and gaming venues to seamlessly transition towards full digitalization of customer interactions. Flexia’s expertise lies in merging casino and online wagering accounts, along with casino loyalty programs, all integrated into a unified digital payment solution – the Flexia Prepaid Mastercard.

Flexia Payments CEO Hails Game-Changing Partnership with OKTO

Craig Libson, the CEO and co-founder of Flexia Payments, emphasized the transformative potential of the partnership, stating that their collaboration with OKTO has granted them access to significant resources and capabilities. He mentioned that it would expedite the deployment of advanced cashless and omnichannel payment services to the growing gaming market.

Libson further added: “With the amalgamation of our strengths and OKTO’s powerful payment technology, we are well-positioned not only in the North American market but also beyond, creating one of the most extensive international footprints in cashless gaming fintech.”

This strategic alignment allows Flexia Payments to realize its mission of driving digital payment innovation in both online and land-based casino gaming, while OKTO establishes itself as a key player in the North American gaming landscape, revolutionizing the way customers experience gaming and paving the way for a cashless future in the industry.

In June, OKTO announced another strategic partnership with Europe’s leading open banking payments network, Truelayer. Through this collaboration, OKTO enhanced its Cashless Solutions by incorporating Truelayer’s instant bank payment capabilities. OKTO’s products, including OKTO.WALLET and OKTO.DIRECT, now offers customers instant bank payments for both withdrawals and deposits, enhancing the overall user experience.

This collaboration aimed to accelerate OKTO’s expansion efforts in Europe and enhance its presence in the entertainment and retail gaming verticals. Additionally, Macao Win, an Italian online casino operator, partnered with Okto to offer players a seamless and efficient top-up experience through Okto’s e-Voucher cash payment solution.

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SKS365 Malta Holdings has officially engaged in dialogue with Playtech as the major player in the global iGaming industry confirmed its interest in pursuing an acquisition. A successful deal would significantly strengthen Playtech’s presence in the lucrative Italian iGaming market, but interest from competitors Flutter Entertainment and Lottomatica may mean a harsh negotiation process.

Playtech Can Expand Its Existing Regional Presence

SKS365 Malta Holdings, the operator behind the successful PlanetWin brand, is a prominent player in Italy’s online and land-based gambling sectors. The company’s success makes it a prime acquisition target for Playtech, which has been actively involved in the region through its subsidiary, Snaitech. An SKS365 acquisition should be a significant strategic win, solidifying Playtech’s Italian operations.

Playtech released an official statement confirming it had begun preliminary acquisition talks. The company was adamant that it had not progressed beyond initial negotiations, adding that a future deal remained uncertain. However, Snaitech’s consistently strong performance highlights the Italian market’s significant untapped potential, giving Playtech a heavy incentive to pursue an acquisition.

There can be no certainty that Playtech will be successful in the process nor that any transaction regarding the potential acquisition of SKS will be agreed.

Playtech statement

This potential acquisition aligns with Playtech’s broader expansion plans, which include a minority equity ownership stake in Hard Rock Digital (HRD). Investing in the Italian market should provide significant long-term benefits for the operator, capitalizing on lucrative opportunities and streamlining its regional operations to create new synergies. 

The Other Competitors Also Have Distinct Advantages

Despite Playtech’s swift actions, two other high-profile operators have also expressed interest in a potential SKS365 acquisition. Flutter Entertainment, the parent company of well-known brands like Paddy Power and Betfair, has not officially confirmed its bid. However, industry insiders suggest it has also engaged in discussions, potentially giving Playtech a run for its money.

Lottomatica, another leading player in the Italian gambling market, is reportedly considering a bid for SKS365 Malta Holdings. Last year, Lottomatica acquired Betflag, an Italian online sports betting and casino operator, for €310.0 million ($328.26 million), consolidating its position in the Italian market. Another high-profile purchase would further elevate its status, cementing it as a regional leader.

As these discussions progress, it remains to be seen which company will ultimately secure the acquisition and cement its foothold in Italy’s thriving gambling industry. All three potential buyers possess distinct advantages, meaning SKS365 could play them against each other to secure a superior deal. Regardless of the victor, an acquisition would significantly impact the Italian gambling market, elevating the winner above the competition.

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