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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Leading iGaming tech company Gaming Innovation Group (GiG) has announced the completion of its acquisition of KaFe Rocks, a major online casino affiliate. The announcement was first announced in November and saw the tech giant acquire the affiliate in a EUR 35 million deal.

According to GiG, the new acquisition will position its proprietary media division, GiG Media, as the leading iGaming affiliation brand. The move will also cement GiG’s position in the key North American market, the company added.

As previously announced GiG will pay a total of EUR 35 million (roughly $38.5 million current rates) for the acquisition. This includes an upfront cash payment of EUR 15 million (16.5 million), followed by semi-annual payments totaling EUR 20 million ($22 million). GiG may also issue EUR 2.5 million ($2.75 million) in own shares to the sellers in Q1 2024.

KaFe Rocks’ assets are consolidated as of December 21, 2023.

The Deal Is in Line with the Company’s Overall Strategy

The acquisition of Kafe Rocks follows GiG’s takeover of AskGamblers, previously owned by Catena Media.

The growing affiliate strength of GiG Media positions it to drive KaFe Rocks’ growth, allowing it to expand substantially. GiG also believes that the natural synergies with KaFe Rocks will allow the latter brand to secure revenue of $25 million, as well as an EBITDA margin of over 45%.

The acquisition of KaFe Rocks is also in line with GiG Media’s business diversification efforts. Diversification remains an important strategic goal for the company, which seeks to solidify its business by having a wide customer base, multiple websites and businesses in many key jurisdictions.

Jonas Warner, Gaming Innovation Group’s group chief executive officer, commented on the completed deal, expressing his satisfaction with the new acquisition. He said that the transaction is in line with the company’s goal to maintain its leadership position in the world of casino affiliation and expand GiG’s presence across the lucrative North American market.

The inclusion of KaFe Rocks aligns perfectly with these objectives. We’ve identified a thriving business led by an exceptionally skilled team. We eagerly anticipate integrating KaFe Rocks into the GiG family, unlocking additional business value to benefit our partners and investors.

Jonas Warner, group CEO, GiG

In other news, GiG just completed the issuing of an $81 million senior secured bond issue. Shortly after, the company announced the appointment of Matthew Saxon as its new chief technology officer.

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Gambling industry stakeholders are keenly observing the details surrounding the Dallas Mavericks purchase, as it fueled speculations about the future of legalized gambling and sports betting in Texas. The deal should be completed by the year’s end as the team changes hands to the Adelson family, one of the gambling industry’s most famous billionaire magnates.

The Sale Provided Much-Needed Capital

Even with this new venture, Miriam Adelson will retain the majority shareholder position at Sands. As per the SEC filing, Sands board director Irwin Chafetz, a director of the company since February 2005 and a close friend of the late Sheldon Adelson, the founding chairman of Sands, acts as the trustee for the family’s shares. 

This newest deal, initially announced in an SEC filing on 30 November, provides the financial means for Adelson to secure a majority ownership interest in the NBA franchise. Multiple reports suggest that the team will remain in Dallas, and the current owner, Mark Cuban, will continue overseeing basketball operations for the Mavericks.

The Mavericks Purchase Has Significant Implications

Miriam Adelson’s purchase of the majority stake in the Mavericks should be finalized by the year’s end. The deal requires approval from at least 75% of the NBA Board of Governors, consisting of the 30 team owners. If greenlit, Sands President and Chief COO Patrick Dumont, Miriam Adelson’s son-in-law, will join the Board of Governors as the Mavericks’ representative.

Sands has emphasized that ownership of the Mavericks will go directly to the Adelson family and will not impact the company. However, observers view this transaction as part of Sands’ strategy to persuade Texas legislators to take steps towards revising the state’s constitution, potentially allowing legalized gambling, thus advancing the company’s regional interests.

This Development Can Significantly Benefit Sands

Spearheading the introduction of legalized gambling in Texas would represent a significant victory for Las Vegas Sands as it reevaluates its market position and doubles down on its most promising markets. The company recently increased its stake in Sands China, bolstering its overseas presence. It counts on the region’s continued resurgence and the success of its high-profile Macau properties.

Despite Adelson’s efforts to separate the Dallas Mavericks deal from their primary Las Vegas Sands business, the purchase still has considerable implications on the broader gambling landscape. Many industry insiders believe the Mavericks can become the cornerstone of the Adelsons’ Texas efforts, significantly expanding their reach in the state.

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Star Entertainment Group has completed the sale of its Sheraton Grand Mirage Resort Gold Coast property. Announced earlier this year, the sale saw the Australian casino and hospitality giant sell the property for AUD 192 million (roughly $128 million at the time of the announcement).

The sale of the property came amid regulatory headwinds that saw the company lose public trust and experience deterioration in operating conditions.

Grand Mirage Resort Gold Coast was purchased by the Karedis and Laundy families. Best known for their activity in Australia’s liquor and hospitality sectors, the families will thus be able to expand their portfolio with another major property.

The sale was officially closed on November 3, providing Star Entertainment with almost AUD $60 (approximately $39 million in USD) in net proceeds. For reference, Australian Wattle Development originally purchased the property for AUD 140 million in 2017.

The Group Is Yet to Recover from the Bell Review

The Star’s post-review hurdles are not over yet. In 2021, the NSW Independent Casino Commission appointed Adam Bell SC to review the company’s business in New South Wales. After months of investigation, the Bell review uncovered multiple violations.

The company had to pay hundreds of millions in fines, almost lost its license to conduct business in the state and was forced to implement remediation measures and do better. The fines and the public trust Star lost caused its business to decline.

The silver lining is that the company’s remediation process seems to be going well. At the end of August, the company reported that it has so far implemented 22 of the 30 Bell review recommendations. The struggling casino and hospitality giant reaffirmed its intentions to do follow the recommendations outlined in the review and fix its shortcomings.

In addition, the company was recently able to strike a tax relief deal in NSW. The concession on casino duty rates with the NSW government is expected to help Star get its finances under control.

In other news, Star Entertainment was recently criticized by professional poker players who accused the company of banning players without providing any justification. Considering WPT’s exclusive partnership with Star Entertainment, this caused trouble for some elite poker players.

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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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A day after launching in Serbia, Betsson unveiled its plans for further expansion through acquisitions. As announced, the gambling group has completed a EUR 75 million (around $80.4 million) bond issue to fuel its M&A ambitions.

The company explained that the issue is under a framework of up to EUR 250 million ($267 million) and has a tenor of three years. The bond issue also has a floating interest rate of EURIBOR three months plus 460 bps. Finally, Betsson said that the bond issue is set to mature in September 2026.

The group noted that Nordea has acted as the global coordinator of the move. At the same time, Nordea and Swedbank jointly acted as bookrunners for the issue. In the meantime, Gernandt & Danielsson served as the legal counsel of the bond issue.

The Funds Will Be Used for Acquisitions and Other Purposes

Bettson confirmed that it plans to use the funds from the issue of the bonds for various company purposes, which may include acquisitions.

The company’s chief financial officer, Martin Öhman, released a statement on the matter, pointing out that the new bond is in line with Betsson’s strategy and will provide his team with new opportunities.

The new bond provides us with additional financial flexibility and supports Betsson’s long-term strategy, which means continued investments to drive profitable growth.

Martin Öhman, CFO, Betsson

Betsson Is Cultivating a Brand Identity

In other news, Betsson recently strengthened its esports betting offering thanks to a new partnership arrangement with BETER. Facilitated by BETBAZAR, the deal saw BETER provide Betsson with esports odds feeds and ESportsBattle tournaments for Dota 2 and CS:GO.

Earlier in August, Betsson rebranded its Denmark-facing subsidiary. Previously Casino.dk, the site will now go under Betsson’s name, allowing the company to popularize its brand. The move, the operator confirmed at the time, aligns with its strategy to cultivate a global brand identity.

Speaking of the promotion of Betsson’s products, the company recently unveiled a new global marketing concept. Under the slogan “A bet makes the difference,” Betsson seeks to promote the excitement sports betting can bring and the ways in which wagering can enhance the overall experience.

The company’s global brand director, Kay Höök, said in a statement that Betsson cannot control the outcome of a game but can make sure that its players feel engaged each time they place a bet.

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Such a strategic move should have many significant long-term benefits to the organization, aligning with its goals to streamline its business and refocus on core markets. A sturdy financial foundation will be instrumental in Catena Media’s planned 2024 North Carolina launch, requiring significant capital and lasting shareholder confidence.

The Company Completed Its Short-Term Objectives

Catena Media’s shareholders approved the share buyback program during the extraordinary general meeting on 12 July, following an initial resolution from 24 May. The organization noted that the initiative aimed to improve shareholder value while optimizing the underlying capital structure by reducing its share capital. To that end, Catena Media planned the subsequent cancellation of repurchased shares.

During the designated buyback period, Catena Media effectively repurchased 264,969 ordinary shares. The company now has 2,053,976 ordinary shares, while 78,769,812 outstanding shares remain available. This measured approach reflects the organization’s commitment to prudent financial management and its dedication to providing long-term shareholder value.

Carnegie Investment Bank AB facilitated all share repurchases on Nasdaq Stockholm on behalf of Catena Media, guaranteeing a fair and transparent process. The executed buyback demonstrates the company’s confidence in its prospects and underscores its proactive approach to optimizing its capital structure and aligning its financial strategies with its growth objectives. 

Significant Corporate Debt Presents a Pressing Concern

Catena Media’s dedication to prudent financial practices and its focus on generating sustainable value has positioned the company as a leader in the competitive iGaming affiliate marketing sector. Its Q1 2023 financial results reflected significant room for growth despite the dip in revenue. Catena CEO Michael Daly was optimistic about the company’s prospects, predicting new successes.

A stable financial foundation should prove instrumental for Catena’s long-term ambitions. The affiliate is preparing for a 2024 North Carolina launch, hoping to leverage the state’s significant potential. However, Catena’s large corporate debt still presents significant challenges, and its board is considering every avenue to tackle this problem.

As Catena Media continues to navigate the dynamic landscape of the iGaming industry, its commitment to responsible financial management and value creation remains steadfast. With the completion of this share buyback program, the company is well-positioned to pursue its strategic objectives, leverage emerging market opportunities, and contribute to the continued growth and innovation within the affiliate marketing sector.

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There are 500 clearance devices that will be installed moving forward and the government is expected to ask residents to test the technology. Should the test run successfully, the iris-clearing border checks may be rolled out on a larger scale and be introduced at every border check in Macau.

Running More Tests Before Large-Scale Implementation

The technology, although having a dystopian ring to it, is part of legislative efforts promulgated by the Macau Legislative Assembly back in August 2021. The government introduced changes to its immigration control law that allowed it to collect and process the iris data of travelers.

The first round was conducted recently, using fewer devices, and controlled by the police. The 500 devices that will be rolling out will now allow the Macau government to see if it can handle the data and use it to better the comings and goings through borders.

The iris test’s second phase will focus on Macau residents who are aged 18 and above and will ask them to participate in the customs clearance tests. Once phase two of the testing is done, a third phase is expected to follow which will directly link personal iris data to the Macau Resident Electronic ID Card.

This way, residents would not need to use physical identity cards when entering or exiting the territory. This has raised questions, however, as to whether the technology would also become obligatory for foreign tourists – a move that can undermine the Special Administrative Region’s ability to attract foreign tourists.

Irish and Facial Recognition Clearance Becoming More Popular

The technology is also supposedly not mandatory. When Macau Secretary for Security Wong Sio Chak was introducing it in March, it was argued that there is no obligation to submit iris data if a person does not want to.

Facial recognition has already been used to allow admittance to many international countries, but iris data has not been collected en masse. In Asia, at least, there is one other country that has used iris clearance data – Singapore, which makes the idea not too outlandish altogether.

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