Global sports betting and gaming group built on proprietary technology, Entain, has announced the exciting launch of a brand new live gameshow with support from the leading platform, content, and services provider in the online gambling industry, Playtech.

The Chase, which is the name of the new game, follows the proven model carried by the iconic ITV gameshow that constantly gathers a daily UK viewership of roughly four million. 

Described as “a quiz with a difference,” the TV gameshow reunites four contestants who need to “pit their wits against the Chaser, a ruthless quiz genius” determined to prevent them from winning the cash prize.

The Game Is Hosted by Playtech’s Live Studio in Riga 

Entain’s new release, which seems to be the first of its kind, is hosted by Playtech from its nonstop live studio in Riga, Latvia. 

Originally, the new live gameshow went live for Entain’s customers based in the UK, then reached the regulated markets in Canada (Ontario), Brazil, and Belgium.

Italian and South African players can expect to get official access to the game that is exclusive to Entain’s brands sometime in the near future. 

The Chase displays a plinko board and counts two separate bonus features aimed at keeping players well engaged until the “Final Chase” is initiated.

Player Spending Went up 56% in the First Month

Just one month after its release, the game’s performance peaked, reaching a whopping 56% increase in terms of player spending. 

According to Entain, which was listed as the top employers in the UK by LinkedIn in May, the figure led to triple the revenue of previous premium launches with the same type of plinko mechanics.

The excellent figures have strengthened the operator’s belief that the game will successfully set a new standard in the industry.

As explained by the company’s global head of live and table games, Graciella Anthony, their data is already proving The Chase has been “a hit” with their worldwide customers. 

Anthony added they expect the game to maintain its keep “impressive growth trajectory” and keep standing out in the “growing live gameshow genre.”

Similarly, ITV Studios Global Partnerships’ senior vice-president, Steve Watling, called it one of their “most anticipated game releases in 2024” while emphasizing the joint work of the three parties across several months. 

Finally, Kevin Kilminster, who is Playtech’s chief product innovation officer, called the project “a testament” to their powerful partnership with Entain. 

Last month, Playtech and MGM Resorts announced they would stream live casino content straight from two of MGM’s Las Vegas-based casinos.

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Recently, MGM Resorts’ chief executive officer, Bill Hornbuckle, was asked about any change of heart following the company’s latest public statement on the acquisition bid topic. His answer led to a 4% drop in Entain’s shares.

Last fall, it was speculated that MGM Resorts would possibly make a new acquisition bid for global gaming giant Entain following the decrease in the latter’s share price in 2023 along with the ousting of now former chief executive officer Jette Nygaard-Andersen at the end of the year. 

The S&P 500 global gaming and entertainment company that features national and international locations initially said no to an acquisition bid in 2021 that gave the business an enterprise value of £8.1 billion ($10.17 billion).

That amount currently stands for an important premium on the company’s market cap of £6 billion ($7.53 billion).

“It’s About Product, Product, Product, and Focus”

The CEO replied that their main focus would be on product in the upcoming months, leaving large-scale mergers and acquisitions to the side.

Hornbuckle explained that, while attending the ICE event in London last week, he met with Stella, their partner, and talked over the importance of making sure “everyone’s focus is on BetMGM.”

He emphasized that 2024 will be a critical year for everyone, ”So, it’s about product, product, product, and focus.” His comments immediately caused Entain’s share price to fall close to 4% down to £9.22 ($11.58) prior to slightly recovering to £9.84 ($12.53).

2024, an “Investment Year” for BetMGM

In December 2023, BetMGM’s chief executive officer, Adam Greenblatt, spoke during an investor presentation, calling 2024 an “investment year” as the joint venture was trying to regain the market share that it had lost while improving its product.

Hornbuckle agreed that 2024 would be “a reinvestment year,” emphasizing the need and desire to get their product “in a better and different shape” and adding they would like additional parlays. 

“Obviously,” he continued, “the acquisition of Angstrom by our partner will be a big add to that. We’ll be able to stick out more product. We’ll have more confidence in it.”

The CEO explained that their focus will fall on baseball in the next months, with expectations to hit soccer in 2025 while putting many of their product differentiators to use in the meantime.

For the spring, Hornbuckle also discussed their plan to have a single wallet in play. As for when they will begin to make some cash, 2025 seems to be on the horizon. 

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Global gambling giant Entain is reportedly exploring a bid to secure direct access to a free-to-air TV channel targeting Australian audiences. The move aims to broadcast racing events, explore synergies, promote gambling products, and challenge the monopoly of Tabcorp-owned Sky Racing. Entertain’s previous broadcasting experience should provide substantial benefits, helping leverage a potential agreement.

A recent Australian Financial Review report revealed that Entain, which owns prominent wagering brands like Ladbrokes and Neds, approached leading commercial networks, including Seven, Nine, and Ten, a few months ago. The proposal involved inquiring about the potential creation of a new platform for broadcasting greyhound, harness, and thoroughbred racing. 

Industry insiders claim Entain offered around $8 million per year to rent a channel, with Network Ten reportedly being the closest to a deal. While Entain has not finalized any agreement, the move signals an attempt to diversify broadcasting options. If successful, the model would be based on the Racing.com channel, initially a joint venture between Seven Network and Racing Victoria.

However, managing a dedicated free-to-air channel requires securing racing rights. Entain has previously struck a 25-year deal with New Zealand TAB, aiming to expand the audience and provide NZ racing with a more substantial presence in Australia. Success with the company’s newest media venture in the region would break Tabcorp’s control over the broadcast of state-based racing and hopefully bring significant dividends.

A Successful Deal Could Bring Long-Term Benefits

The multichannel deal for racing could be a strategic move for betting companies and TV networks to navigate an anticipated crackdown on online gambling advertising. A parliamentary inquiry recommended a complete ban on internet gambling ads, contributing significantly to media companies’ revenues. Diversified marketing options should shield Entain from such a crackdown, improving marketing opportunities.

Entering the free-to-air TV space should give Entain a significant edge in the Australian market. Tabcorp’s Sky Racing Channel, which offers content similar to Entain’s preferred offerings, is only available via Foxtel and the Kayo streaming service. A free-to-air entry by the gaming giant would significantly disrupt the current status quo, reaching broader audiences.

Exploring a multichannel deal is part of Entain’s broader reorganization initiatives. The company is undergoing a significant strategic realignment, accompanied by ongoing high-level management reshuffles. This newest expansion into broadcasting aligns with Entain’s ongoing efforts to diversify its operations and strengthen its position in the evolving wagering and broadcasting landscape.

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The collaboration will seek to help and intervene in cases of gambling harm or illicit betting among young players who may be exposed to various dangers associated with gambling but are not getting enough support to overcome those problems.

Minor League Baseball Getting the RG Resources It Needs

EPIC Global Solutions, which recently rebranded, will step forward and provide educational materials and responsible gambling and mental health seminars to help minor league players and other personnel that have been picked by the MLB to have the means to protect themselves against gambling harm and participating in unauthorized gambling contests.

Entain Foundation US will step up and provide financial support so that EPIC may carry out its sessions focusing entirely on the curriculum and ensuring that participants are receiving the best care and training possible.

MLB VP of Sports Betting & Compliance Quest Meeks said that EPIC’s program facilitates will drive a strong message home to players and help them educate and protect themselves against the growing threat of gambling. This is particularly important in the case of young players, Meeks said:

Our younger minor league players in particular are coming into the league at a time when mobile sports betting is an increasingly prominent part of the sports ecosystem. We want to help those players avoid gambling-related pitfalls that can derail not only their careers but also their day-to-day lives.

MLB VP of Sports Betting & Compliance Quest Meeks

EPIC and Entain Foundation US have been working hard to ensure that they protect players, athletes and staff across various organizations and sports leagues, helping them understand the problems of problem gambling on both a professional, collegiate, and minor level.

Protecting Players on All Levels Is the Priority

Commenting on this new opportunity, Entain Foundation US trustee and Entain SVP for American regulatory affairs and responsible gambling, Martin Lycka, had this to add:

“We must take a preventative approach to gambling harm, particularly those involved in sports, so educating the baseball community on responsible gambling practices is a critical measure”

In June, EPIC and Entain Foundation US partnered with the Major League Soccer Players Association. Efforts to safeguard players and student-athletes have been ongoing, with the NCAA turning to a new partner to ensure that it’s not just a matter of educating players on why they shouldn’t gamble or be aware of gambling harm.

The association, for example, doubled down on protecting its student-athletes from online abuse, which is another unintended consequence of the mass legalization of sports gambling in the United States.

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The Australian Communications and Media Authority (ACMA) announced that it has found a number of operators guilty of breaching the country’s rules on gambling. As reported by the authority, the gambling companies in question used “Fast/Quick Codes” to facilitate in-play betting on sports matches.

Violators, according to the ACMA, included Entain’s Ladbrokes and Neds, bet365 and Sportsbet.

The ACMA reminded companies that in-play betting on sports matches is prohibited under the Interactive Gambling Act 2001, save for a few limited exceptions such as placing bets over the phone. However, in order for this exception to apply, a customer needs to provide their bet type, amount and confirmation via the phone call.

According to the ACMA, the aforementioned operators violated this rule by instead providing a Fast/Quick code option to customers. The codes in question embed the event, bet selection and bet type. Thanks to this, customers can just quote the Fast/Quick code to operators over the phone.

The ACMA Did Not Impose Further Sanctions

The ACMA explained that Ladbrokes and Neds, bet365 and Sportsbet all violated Australia’s rules on Fast/Quick Codes.

Ladbrokes and Neds (Entain), bet365 (Hillside) and Sportsbet (Sportsbet) in-play betting services were found to individually generate Fast/Quick Codes for each particular in-play bet when that bet was built by a customer via the service’s website or App – at least for the first customer.

ACMA statement

Australia’s communications regulator concluded that this betting information had been communicated via the website or app, rather than entirely via the phone call. As a result, the exception to the prohibition on in-play betting on sports matches did not apply.

In the wake of the investigation, all three operators in question have taken steps to make their Fast/Quick Codes compliant with the local rules. As a result, companies will only be able to generate such codes prior to the beginning of a sporting event, independent of customers selecting bets. These codes will be generic and the same for all customers, the ACMA added.

The ACMA acknowledged the three gambling companies’ quick reaction and decided not to impose sanctions.

Last month, the ACMA learned that the Seven Network Operations has breached the country’s gambling ad regulations. This was not the company’s first violation either, resulting in a penalty of $13,320.

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New York-based hedge fund, Corvex Management, has announced its entry into the ongoing drama surrounding FTSE 100 gambling giant, Entain, as it has acquired a significant 4.4% stake in the Ladbrokes owner. 

Corvex Spearheads Activist Onslaught, Deeming Current State ‘Unacceptable’

Corvex, led by former Carl Icahn lieutenant Keith Meister, has become the latest activist investor to assert itself in Entain’s affairs, labeling the current state of the company’s performance as “unacceptable.” The hedge fund emphasizes the need for a more radical overhaul, asserting that the recent management change is merely a preliminary step.

The announcement from Corvex came less than 24 hours after Nygaard-Andersen resigned, adding to the tumult surrounding Entain. The Ladbrokes owner has been grappling with a slump in its share price throughout the year, coupled with a series of unsuccessful acquisitions totaling over £2 billion ($2.6 billion).

Entain‘s joint venture with MGM Resorts International in the United States, particularly in the rapidly growing sports betting market, has been a focal point for the activist hedge fund. Corvex, already holding a stake in MGM where Meister sits on the board, aims to wield its influence to drive transformative change at Entain.

The hedge fund has expressed its intention to engage with Entain’s chairman, Barry Gibson, and interim CEO, Stella David, to actively contribute to positive changes within the organization.

Entain’s Shares Rally 7% Amidst Activist Calls for Industry-Expert Leadership

Entain’s shares experienced a nearly 7% surge, reaching slightly above £9 ($11.5) in morning trading following Corvex’s announcement. The gambling group now finds itself at a “critical juncture,” according to Corvex, suggesting that a shareholder with substantial industry and company-specific experience is necessary for the company’s revival.

Last month, Entain faced increased pressure as two US activist hedge funds, Dendur Capital and Sachem Head Capital Management, joined Eminence Capital in expressing concerns over the company’s stagnant share price and CEO Jette Nygaard-Andersen’s leadership. 

The activists cited regulatory challenges and management missteps, prompting Entain to pledge the appointment of four new non-executive directors. Activists, led by Ricky Sandler, also pushed for more inclusion on the board. Entain, in response to the increasing activist pressure, asserts its commitment to addressing shareholder concerns. The company remains confident in its ability to capitalize on significant growth opportunities, but the looming question remains whether the board will succumb to external pressures and consider a sale of the company or some of its assets.

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Entain Plc, a prominent player in the global gaming industry, endorsed the findings of a study commissioned by the German Online Casino Association (DOCV) and the German Sports Betting Association (DSWV), highlighting the significant presence of black-market operators in Germany. The operator noted that current regulations disincentivized consumers from engaging with regulated gambling companies, contributing to substantial regional losses.

Unlicensed Operators Hurt the Regulated Market

According to the University of Leipzig report, only about 50.7% of players were channeled towards licensed online gambling spaces, while approximately 28.9% of traffic headed to unlicensed EU providers and 19.9% to unlicensed offshore providers. The study estimated that the unregulated online gambling market generates three-quarters of the revenue, resulting in significant tax revenue losses.

Germany’s regulatory deficiencies have also been detrimental to operators, as the aftermath of the State Treaty on Gambling in Germany included a visible shift of players towards illegal providers due to access barriers imposed by the current regulations. The operator has since experienced a significant decline in recorded sales and has been a vocal advocate for more effective enforcement efforts.

When looking at individual gaming behavior, it becomes clear that players are obviously switching to illegal providers and continuing to play there.

Grainne Hurst, Entain Group Director of Corporate Affairs

Entain operates Bwin, one of Gernamy’s top three online sportsbooks, and maintains an impressive presence among many European jurisdictions. While the Old Continent is infamous for its diverse regulatory environment, the company noted that current German regulations were among the most restrictive, significantly limiting competitiveness with grey market entities.

Entain Offered to Collaborate with Lawmakers

During an interview with GamesundBusiness.de, Entain Group Director of Corporate Affairs Grainne Hurst stressed the necessity for regulatory amendments to enhance player protection and make legal gaming offers more appealing. She reiterated that proper implementation of regulations could effectively redirect players towards legal platforms and reduce the appeal of unlicensed operators.

Entain also criticized German regulator Glücksspiel (GGL) for its lacking methodology, which only recorded a 2-4% share of illegal gambling activity. The operator expressed willingness to engage in discussions with the GGL to help foster improved player protections in Germany and encourage a fair, sustainable, and player-focused market.

Entain is making great efforts in Germany to ensure that implementation is now consistently geared towards the best possible player protection with appropriate channeling.

Grainne Hurst, Entain Group Director of Corporate Affairs

While Entain’s stance against illegal operators in Germany is commendable, the company remains primarily motivated by the impact of such activities on its bottom line. Increased competitiveness with unlicensed entities would significantly bolster its regional presence and signify a milestone achievement. A victory in Germany should also alleviate the company’s ongoing troubles and improve investor confidence.

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On November 24, the gambling giant Entain announced that it has reached a deferred prosecution agreement (DPA) with the Crown Prosecution Service (CPS). The agreement was also approved by Dame Victoria Sharp, president of the King’s Bench Division. The gambling company will proceed to seek final judicial approval from the Court on December 5.

The agreement in question relates to HMRC’s investigation into the company’s former business activity in Turkey. While Entain sold its Turkish assets in 2017, the bribery-related offenses of its legacy business continue to haunt the company.

Under the DPA, Entain agreed to pay a financial payment of £585 million ($737.5 million), to make a charitable donation of £20 million ($25 million) and to pay a £10 million ($12.5 million) contribution that covers the HMRC and the CPS’s costs. As per the terms of the deal, the gambling company will pay this money in installments over four years after the DPA secures approval from the Court.

The current settlement will add to Entain’s woes as the company struggles with investor distrust and shareholder disapproval.

Entain Is Committed to Following the Rules

Entrain highlighted its cooperativeness with the HMRC and the CPS and expressed its desire to continue working with the authorities in the future.

Barry Gibson, the company’s chairman, commented on the DPA, explaining:

This legacy matter concerns a business which was sold by a former management team six years ago. The Group has changed immeasurably since these events took place, and the DPA process has provided a reminder of the stark differences between the GVC of yesterday and the Entain of today.

Barry Gibson, chair, Entain

Gibson added that his team is planning to only operate in regulated markets and remain a trusted business. Now a best-in-class responsible operator with high levels of corporate governance, Entain hopes to never repeat its past mistakes.

Entain added that it will release a further announcement after the hearing on December 5.

Earlier this month, Entain’s leadership increased its stake in the company. This move aimed to demonstrate the higher-ups’ trust in the company’s financial position despite the recent setbacks.

A few weeks ago, Entain published its Q3 results, highlighting a net gaming revenue increase of 7%.

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Global gaming and sports betting leader Entain has reinforced its board with the appointment of Amanda Brown as an independent non-executive director (NED). The experienced appointee has years of experience in corporate leadership roles and is a valuable addition to the team.

Brown will officially join the team on November 8, also becoming a member of Entain’s Remuneration Committee.

The new appointee boasts an impressive track record that includes various positions at multiple notable companies. She was most recently chief human resources officer at Hiscox. During her time at the company she also served as a member of its senior leadership team but stepped down in 2022.

In addition, Amanda is currently a NED and Remuneration Committee chair of Mitchells & Butlers, as well as a NED and chair designate of the Remuneration Committee at the Manchester Airport Group.

Her previous experiences include time as a NED and Remuneration Committee chairperson at Micro Focus International.

Entain’s new hire also boasts a degree in English from Reading University.

Gibson Welcomed Brown to the Entain Family

Entain’s chairman, Barry Gibson, welcomed the new hire on board, praising her experience in business and board positions. He said that he trusts her ability to help Entain’s board and help Entain enact its corporate strategy.

On behalf of the Board, I am delighted to welcome Amanda to Entain. Amanda brings a wealth of international business and board experience. I am confident that her skills and expertise will further enhance the Board’s ability to support and oversee the delivery of our strategy.

Barry Gibson, chair, Entain

Entain’s official announcement concluded that there are no details to disclose for Amanda Brown under Listing Rule 9.6.13. The company also noted that she currently does not own any Entain ordinary shares.

Recent Entain Developments

In other news, Entain’s chief executive officer, Jette Nygaard-Andersen, recently teased that the tie-up with MGM Resorts is unlikely to be permanent. Her statement caused industry experts to suggest that a possible MGM takeover attempt of Entain might be on the table.

Nygaard-Andersen’s statement came just after Entain announced its plans to downscale Unikrn amid changing priorities and regulatory headwinds.

At the beginning of this month, on the other hand, Entain completed its $100 million acquisition of Angstrom Sports. The deal, according to the company, will help the casino giant “unlock significant opportunities” in the US market.

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Polish-facing sports betting brand STS has secured an advertising rights arrangement with the Union of European Football Associations (UEFA). Now owned by Entain, the operator has secured the right to conduct marketing activities for the UEFA Europa League and the UEFA Europa Conference League in Poland.

This will expand the sports sector presence of Entain, which already partners with the two leagues in question. With Entain having acquired STS, the Polish brand will also be able to conduct UEFA-oriented campaigns.

Now activated by STS in Poland, the rights will allow the Polish operator to appeal to soccer fans across Europe. The operator’s logo will be visible during matches of Polish teams, promoting its wagering products.

At the same time, STS promised to launch a variety of local promotions for sports fans in the country. Lucky fans will even be able to win tickets for some of the hottest European soccer matches.

As the largest private operator in Poland, STS is firmly committed to supporting the sports sector. Already boasting partnerships with many clubs across multiple sports, the operator is also the official sponsor of Poland’s national soccer team.

Entain’s Takeover Continues to Benefit STS

STS’ chief marketing officer, Paweł Rabantek, commented on the activation of the advertising rights. According to him, the recent takeover by Entain brings a “number of benefits” for his team, including the opportunity to expand STS’ marketing activities and reinforce its position in Poland’s gambling market.

Rabantek also expressed his happiness about the implementation of all possible advertising services both within the UEFA Europa League and UEFA Europa Conference League competitions from the first match day.

Rabantek teased that fans can expect many exciting promotions.

STS Dominates the Polish Market

STS was acquired by Entain in June for approximately $945 million. Approved by STS’ two major shareholders, Mateusz Juroszek and Zbigniew Juroszek, the deal saw STS join the global Entain family.

Currently boasting around 800,000 active users and a network of 400+ physical betting shops, STS is an undisputed leader in the Polish gaming industry.

Two weeks ago, the gambling and betting company published its results for the first half of the year, strengthening its leadership position and maintaining its momentum. The company’s metrics increased across the board, attesting to the effectiveness of STS’ strategy.

In other news, PandaScore just debuted in Poland thanks to a partnership with the local betting leader. Under the deal, the former company supplied its cutting-edge esports betting products to STS. 

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