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Well tomorrow will be very interesting ??. What a ride for today.
Love it. Great post.
Thanks for sharing! Very much looking forward to this one!!!
That’s tremendous! They just keep stacking up the wins!
Nort, such a waiting game. He’s done some great things and I hope they keep that going and don’t just fill the void with something mediocre. I don’t feel too bad waiting with BFT ready to cover any short comings very soon. Good hedge bet there. Third one is a cheaper uppincomer BRGGF.
Have to agree. Just need a good quarter and any news on good revenue then it’s off to the races. Been debating about adding another 10k down here!
Chomping at the bit to get unlinked from these SPAC ETFs. This should be in the 20s already. T minus about 2 weeks.
9:01a ET 3/8/2021 - PR Newswire
Innovative Deals Spur the Growth of New Sports Betting Solutions
Mentioned: BRGGF EIHDF GOOG IGT WYNN
Last year has shaped up to be crucial for the sports betting industry in the United States, as the U.S. gambling industry won big in the election. Three states had measures on the ballot to legalize sports betting: Maryland, Louisiana and South Dakota. All voted yes. Before the election, Tennessee became the 19th state where sports betting became effective. However, the law stipulates that 80% of the tax revenue raised from sports betting in Tennessee will go to help fund education; 15% will be allotted for local government infrastructure projects, and 5% will go towards improving mental health in the state, according to a report by the Martinsville Bulletin. Besides the election results, another factor most significant to the boost of the sports betting segment is attributed to the usage of smartphones, which have easy user interfaces and can be used at anytime and anywhere. According to a report by the Associated Press, companies like DraftKings are making serious strides in developing easy-to-use systems available to the public through partnerships with sports leagues. Bragg Gaming Group Inc. (OTC: BRGGF) (TSX-V: BRAG), Wynn Resorts, Limited (NASDAQ: WYNN), Alphabet Inc. (NASDAQ: GOOG), 888 Holdings plc. (OTC: EIHDF), International Game Technology PLC (NYSE: IGT)
Recently, the first college sports deal with a gambling company outside of Nevada was implemented. According to a report by Bloomberg Tax, the deal between the University of Colorado and PointsBet--an Australian based bookmaker launching its U.S. headquarters in Denver, is worth USD 1.625 Million, and includes tax-write offs. It is "the latest in an explosion of ad-deals between sportsbooks and teams or leagues, although it's the first collegiate pact of its kind," the report explains.
Bragg Gaming Group Inc. (OTCQX: BRGGF) (TSX-V: BRAG) announced yesterday that, "wholly-owned subsidiary ORYX Gaming is taking Croatian land-based operator Senator online with a complete turnkey solution.
The ORYX solution includes the ORYX iGaming Platform, ORYX Hub and a wide selection of ORYX RGS and third-party aggregated content. Senator, which operates 17 casinos in Croatia, will leverage ORYX's proprietary set of tools including player and payments management, CRM and promotions, bonuses and rewards, fraud, rules engine, compliance, analytics and reporting, and CMS.
Senator also now has full access to ORYX Hub, which hosts an extensive library of more than 10,000 casino games from more than 100 providers, including ORYX's proprietary RGS content and a variety of third-party suppliers such as NetEnt, Greentube, EGT and Play'n'Go. Senator will utilize ORYX's real time data and player engagement platforms, including tools such as Real Time campaign management, Leaderboards and Tournaments, Achievements, Jackpots and more.
Senator also operates casinos in several other territories, including Macedonia, Kenya, Mauritius, Central and South America. The online launch in Croatia marks the company's first venture away from its traditional land-based interests.
Following a recently signed deal to move into the Netherlands, ORYX's Croatian partnership heralds its latest expansion in Europe, where it is licensed by the Malta Gaming Authority (MGA) and the Romanian National Gambling Office (ONJN). Its content is certified or approved in 18 other major jurisdictions. Underpinning its commitment to information security, ORYX was recently awarded an ISO/IEC 27001 certificate.
'The regulated market in Croatia is enjoying great growth and we have had great success in this jurisdiction so far,' said Matevz Mazij, Managing Director of ORYX Gaming. 'Our turnkey solution provides our partners with everything they need for a successful casino, sportsbook and lottery operation. Senator is an established and respected local operator, so to have been chosen by them to facilitate their entry into the online space is an honour. Our high-quality products and diverse content will allow them to hit the ground running with a premium online offering.'
'As the popularity of online gaming goes from strength to strength in Croatia, we are excited about taking our knowledge and expertise to launch an online offering for our existing customer base as well as a completely new audience,' said Dimitar Deskoski, CEO of Senator."
Wynn Resorts, Limited (NASDAQ: WYNN) announced earlier this week that WynnBET, the premier casino and sports betting app from the global leader in luxury hospitality, Wynn Resorts, is now a proud partner of the Detroit Pistons. As part of the multi-year deal, several new co-branded marketing efforts will be introduced that enhance the fan experience, providing fresh ways for the devoted base to interact with their favorite team beyond just game day - both online and off. Anchoring the partnership is a new initiative called Wynn Wednesdays, a direct-to-consumer promotion that is exclusive to the WynnBET mobile app and website. Every Wednesday during the Pistons regular season, Wynn Wednesdays will feature rotating opportunities to enter and win one of several prizes, including team and player memorabilia, tickets, and unique VIP experiences.
Alphabet Inc. (NASDAQ: GOOG) Play Store policies will allow gambling and betting Android apps that use real money in 15 more countries, including the U.S. The Google Play Store indicated on March 1st that, "Subject to restrictions and compliance with all Google Play policies, we allow apps that enable or facilitate online gambling in the following countries in the table below as long as the Developer completes the application process for gambling apps being distributed on Play, is an approved governmental operator and/or is registered as a licensed operator with the appropriate governmental gambling authority in the specified country, and provides a valid operating license in the specified country for the type of online gambling product they want to offer."
888 Holdings plc. (OTC: EIHDF) reported last year its partnership with Darren Rovell and The Action Network, a sports analysis and media company that provides premium real-time odds and in-depth data and tools, to host a poker tournament for players in New Jersey. The tournament will consist of a series of four weekly games played against Darren Rovell on the 888Poker platform with a USD 10,000 grand prize finale on July 5th.
International Game Technology PLC (NYSE: IGT) announced last year that its leading PlaySports platform will power world-class retail sports betting at Maverick Gaming's three Colorado-based casinos as well as interactive sports betting throughout Colorado via Play Maverick Sports. Through a multi-year agreement with Maverick Gaming, IGT will provide its proven PlaySports turnkey solution including user-friendly self-service PlaySports kiosks, to Grand Z Casino and Johnny Z's Casino in Central City, Colo. and Z Casino in Black Hawk, Colo. The IGT PlaySports platform, complete with a fully integrated Player Account Management (PAM) solution, will also power Maverick Gaming's "Play Maverick Sports" mobile sports wagering app
Paysafe to Present at the 2021 Wolfe Research Fintech Conference
3/5/21, 2:05 PM
LONDON--(BUSINESS WIRE)-- Paysafe Group Holdings Limited (“Paysafe”), a leading integrated payments platform, today announced it will present at the 2021 Wolfe Research Fintech Conference.
Chief Executive Officer, Philip McHugh, will present on Wednesday, March 10, 2021 at 3:40 p.m. Eastern Time and it will be webcast live. The live audio webcast will be available on the Paysafe Investor Relations website. After the event, an archive of Mr. McHugh’s presentation will also be available for a limited time on the Paysafe Investor Relations website.
What a day...
Received my proxy for voting on the acquisition. It’s happening now... here we go.
With Draftking as a customer of Paysafe this is just more news to keep this moving. I can’t wait to no longer be tied with all other worthless spacs.
“Betting just got easier. Now you don’t even have to put down the remote to pick up your phone. Woohoo!
Today, Dish and Draftkings announced a partnership to allow users (in legal states, of course) to see live Draft King lines and wagers right over the game in question. ?? But it doesn’t stop there— you can also place a bet straight from your TV!
Paul Liberman, President of Product and Technology/DraftKings’ Co-Founder, said this:
Our deal with DISH TV and the technology behind it immerses customers within a next-generation viewership experience and reaches these fanbases in a completely new way.
If only you could bet on the success of this idea...”
8:50a ET 3/3/2021 - Benzinga
DraftKings And Dish Network Partner On Sports Betting, TV Integration
Mentioned: DISH DKNG FUBO
A strategic partnership was announced Wednesday between television provider DISH Network (NASDAQ: DISH) and sports betting operator DraftKings (NASDAQ: DKNG).
The deal will bring DraftKings' sportsbook and daily fantasy games directly to Dish Network customers nationwide.
Customers will be able to access the DraftKings app to view betting odds and daily fantasy contests on their television. The app will be available whether watching live television, on-demand programming or recorded content.
Bets and contests can be initiated directly on the television. Once a bet is initiated, a text will be sent to the customer to complete the transaction via the mobile app.
The integration will begin with Dish Tv's Hopper platform and then expand across other DISH brands like SLING TV and Boost Mobile.
Related Link: Sports Betting Operator DraftKings Posts Q4 Beat, Raises 2021 Guidance After More State Launches
Why It's Important: Customers who place bets will be prompted to set recordings or watch live sports that correspond with the bets they have placed.
There could be a correlation between people watching more sports content if they wager on the contests. This could lead to increased viewing time for Dish customers and increase advertising revenue.
Dish Network ended the fourth quarter with 11.3 million subscribers, including 8.8 million for its Dish TV brand and 2.5 million for SLING TV. The partnership with DraftKings could lead to increased subscriber numbers if loyal sports betting customers or DraftKings fans see the news as a reason to switch.
The news from Dish and DraftKings comes as fuboTV (NYSE: FUBO) is planning to launch sports betting in the fourth quarter of fiscal 2021 and shared details of its sports betting launch Tuesday night.
To keep up with DraftKings and Dish, other sports betting operators could look to partner with fuboTV or other television providers.
Price Action: Shares of DraftKings are up 5% to $72.13, setting new all-time highs. Dish Network shares are up 4% to $34.51.
Aug 31, 2017
Paysafe’s Skrill Quick Checkout (SkrillQCO) platform now available to customers of leading Daily Fantasy Sports platform in Europe
LONDON, September 1, 2017 – Paysafe, a leading global payments provider, has furthered its partnership with DraftKings, a leading global daily fantasy sports (DFS) platform, by providing them the ability to expand their payment methods in Europe through Skrill Quick Checkout.
Looks like they are talking with another. And we wait...
9:00a ET 3/2/2021 - PR Newswire
Online Gambling Offerings Propagate as Regulations Ease
Mentioned: BRGGF DKNG
More and more states are beginning to launch online betting businesses. In addition to a more favorable legal infrastructure, public opinion has turned in favor of such services. Last year's election helped further reinforce the industry. Three states had measures on the ballot to legalize sports betting: Maryland, Louisiana, and South Dakota. All three voted yes. As the legal infrastructure became friendlier towards online gambling, many companies in the gambling industry began to offer additional betting options. In the United States, for example, there are several states that offer online casino gaming services, including New Jersey, Pennsylvania, West Virginia, and Delaware. Michigan had also just recently passed legislation which will allow it to launch similar services, Shared reports. To illustrate just how popular online sports betting is in states where the market can already operate, according to data from Odds.com, which was published by Forbes, Illinois was poised to generate upwards of USD 73 Million in taxable revenue if the estimates of a USD 488 Million annual market come to fruition. Bragg Gaming Group Inc. (OTC: BRGGF) (TSX-V: BRAG), Caesars Entertainment, Inc. (NASDAQ: CZR), DraftKings Inc. (NASDAQ: DKNG), Score Media and Gaming Inc. (NASDAQ: SCR) (TSX: SCR), FansUnite Entertainment Inc. (OTC: FUNFF) (CSE: FANS)
The most significant boost to the sports betting segment is attributed to the usage of smartphones, which allow bettors to bet at anytime and anywhere. Additionally, innovative technologies such as Blockchain, Internet of Things (IoT) and VR are changing the intricacies in many fields, including gambling in an online casino. Furthermore, eSports have also benefited from these developments. Just like any segment in the online entertainment industry, the number of viewers and direct participants is crucial for success. And, according to a report by Business Insider, eSports viewership is expected to grow at a 9% compound annual growth rate (CAGR) between 2019 and 2023, up from 454 Million in 2019 to 646 Million in 2023, per Insider Intelligence estimates. This segment also features gambling and betting features associated with it, thus resembling the online sports betting segment.
Bragg Gaming Group Inc. (OTCQX: BRGGF) (TSX-V: BRAG) announced last week that, "the Company has been named to the 2021 Venture 50, the TSX Venture Exchange's flagship annual program showcasing the top performing TSXV-listed companies from five industry sectors: Clean Technology and Life Sciences, Diversified Industries, Energy, Mining, and Technology.
Bragg's strong results in 2020 led to its inclusion in the list of top performers and also led to Bragg's January 27th graduation to the Toronto Stock Exchange. The 2021 Venture 50 winners were selected based on year-over-year performance across three equally-weighted criteria: market capitalization growth, share price appreciation and trading volume for the year ended December 31, 2020.
'We were extremely pleased with our performance over the past year and are honoured to be included within this cohort of successful high-growth companies,' said Adam Arviv, CEO of Bragg Gaming. 'We're continuing the momentum into 2021, with plans for significant global expansion.'"
Sportradar? We can only hope we are the one!!!
Source: Sportradar Reaches Deal To Go Public Via SPAC
Company valued at $10-$12 billion in recent weeks as rumors of partnership have swirled
Matt Rybaltowski by Matt Rybaltowski March 2, 2021
pointsbet-illinois-temporary-approval
(Shutterstock)
Sportradar has come to terms with a special purpose acquisition company on a reverse merger deal that will enable the company to go public, a source close to the negotiations told Sports Handle Monday evening.
The source, who spoke to Sports Handle on condition of anonymity, did not reveal the name of the SPAC or the terms of the deal. While Sportradar, a Switzerland-based sports betting data provider, may formally announce a partnership in the coming days, an announcement is not expected on Tuesday, the source said.
The deal comes as speculation has intensified over the last week that the data provider had entertained a bevy of offers to go public, either through a SPAC or a traditional IPO. Last month, Sportico reported that Sportradar discussed deals in the range of $10-$12 billion, a considerable step-up from the company’s valuation over the summer at around $8 billion. It is also unclear how much the SPAC has raised in additional Private Investment in Public Equity (PIPE) commitments in connection with the deal.
A Sportradar spokesperson did not respond to an inquiry from Sports Handle on Monday on if a SPAC deal had been reached.
Timing of a deal
Following a transformative year for SPAC deals in 2020, the market has remained red-hot over the first quarter of the year. As of late February, 166 SPACs had filed for IPOs with another 175 companies in search of a target, according to SPACInsider.com. More than 245 SPACs went public last year, with an average IPO size in excess of $330 million.
At the same time, a number of prominent names in the sports world have led efforts to form SPACs with a sports betting focus, fueling speculation that Sportradar could align with a top owner or star athlete.
Over the last several months, companies led by former New York Yankees slugger Alex Rodriguez, former Oakland A’s General Manager Billy Beane, and former Boston Red Sox General Manager Theo Epstein have filed for SPAC deals.
Sports SPAC Arctos NorthStar also priced its IPO, raising $275 million. We had the first look at the SPAC, featuring Theo Epstein https://t.co/iVwPedqJUg via @sportico
#SportsBiz | #SPACs | $ANACU
— Brendan Coffey (@bpcoffey) February 23, 2021
Then, on Feb. 22, Acies Acquisition II, a group led by former MGM Resorts CEO Jim Murren, filed for a $250 million SPAC. The group also includes Curtis Polk, a financial advisor for Michael Jordan. In 2015, Jordan, the former Chicago Bulls star, took part in a $44 million investment round in Sportradar, along with Mark Cuban and Monumental Sports Entertainment CEO Ted Leonsis.
Other names that have emerged as possibilities to merge with Sportradar include SPACs formed by Vegas Golden Knights owner Bill Foley and others formed by Chamath Palihapitiya, a minority owner of the Golden State Warriors.
Sportradar is not necessarily looking at a SPAC with the most capital, but one that can provide a value-add in helping the company deepen its relationship with professional sports leagues and sportsbook operators, sources say. Sportradar is also interested in broadening its relationship with media entities, another priority of the company.
Sportradar looking for very public debut
While Sportradar had partnerships with all four major North American professional sports leagues during the 2020 sports calendar, its deal with the NFL that gave the company exclusive rights to distribute official league data to U.S. sportsbooks is set to expire, The Athletic reported. Sportradar’s move into public markets could factor into negotiations with the NFL on a new gambling-data partnership.
Go behind the scenes of our latest virtual Nasdaq Opening Bell: how @DraftKings tapped the public markets https://t.co/41aTjtZFZ0 #SPAC pic.twitter.com/uyGlRHHVfD
— Nasdaq (@Nasdaq) April 27, 2020
Sportradar is also thinking deeply of the listing as a public event, similar to DraftKings’ public debut last spring, according to a source. During the height of the pandemic, DraftKings CEO Jason Robins took part in a virtual bell-ringing ceremony last April to toast the company’s first day of trading on the NASDAQ Global Select Market.
“They are hoping not for a fundamentals valuation, they are hoping for a DraftKings kind of valuation … one that impacts what kind of valuation tier investors place with it,” the source said.
Sportradar’s decision to go public through a SPAC route represents a change in strategy from prior years when CEO Carsten Koerl preferred the traditional IPO path, another source said.
This is a developing story, more updates to come.
Paysafe wins ‘Best Omni-Channel Payment Solution’ 2021 MPE Award
Latest News
Feb 26, 2021
Paysafe wins ‘Best Omni-Channel Payment Solution’ 2021 MPE Award
Feb 25, 2021
paysafecard joins A1 esports League Austria as Premium Partner
Feb 25, 2021
Paysafe uses Snowflake to power cloud-based approach to data and analytics
Feb 23, 2021
Skrill launches new fiat-to-crypto withdrawal service
Feb 18, 2021
ESL Gaming and paysafecard continue long-standing relationship with 2021 partnership
Feb 17, 2021
Luckbox rolls out Skrill and NETELLER payment services
Feb 01, 2021
Paysafe expands partnership with Virginia Lottery through Income Access deal
Jan 14, 2021
Payments crucial to ongoing growth of US online sports-betting market
Jan 13, 2021
paysafecard launches in The Republic of Moldova
Jan 12, 2021
Paysafe’s NETELLER launches new business and consumer features
PreviousNext
Feb 26, 2021
Solution combining in-person, online and mobile payments for ISVs and merchants recognized at virtual edition of Merchant Payments Ecosystem Awards
Houston, Texas – Paysafe, a leading integrated payments platform, today announced that it won in the ‘Best Omni-Channel or Multi-Rail Payment Solution’ category at the Merchant Payments Ecosystem (MPE) Awards. Presented at a virtual ceremony yesterday, Paysafe’s award recognized its omni-channel payment offering that seamlessly combines in-person, online, and mobile payments for independent software vendors (ISVs) and merchant partners.
Held on the final day of the 14th annual MPE Conference, the MPE Awards 2021 honored Paysafe for its innovative approach to omni-channel payments over the last 12 months. The company’s solution allows ISVs and their merchant partners to offer consumers a cohesive payment experience across all channels, whether they are paying in person, online or via their smart phone or other mobile device. Integrated merchants only require one account to manage and optimize all Ecommerce, mobile and in-store transactions.
Through its long-lasting partnership with Handpoint, a pioneer in integrated payments, Paysafe has integrated its omni-channel offering with Handpoint’s scalable platform that includes sophisticated tokenization without compromising on security, control or the customer journey.
The partnered solution provides a seamless experience for both in-person and online payments from a single portal, while supporting merchants internationally with multi-vertical and vertical-specific integrated point of sales (POS) terminals. This has opened up the possibility for frictionless, omni-channel checkout solutions with ISV systems across a range of platforms, including Paysafe’s offering of Handpoint Cloud Payments for cloud-based POS solutions, integrated in Q1 2020.
The MPE Award recognizes the uniqueness of Paysafe’s omni-channel solution, which gives platforms and ISVs flexibility and choice with their integration. It can be integrated via the cloud or a Bluetooth connection using a comprehensive suite of robust APIs. Merchants have the option to choose from multiple card-present payment devices, including Handpoint’s smartPOS suite.
Carla Erlick, Senior Vice President of ISV channel at Paysafe, said: “We’re honored to see our omni-channel offering for ISVs, platform providers, and merchants, recognized at the prestigious MPE Awards. The COVID-19 pandemic has created unprecedented demand from consumers for a frictionless payment experience across in-store, online and especially mobile channels, and our solution has played a key role in helping ISVs and merchants better serve their customers amidst our ‘new normal’.”
Can’t wait!!!
Market mayhem hitting us all. Damn ETFs taking everything down. Patience.
Looking forward to next week. Get me outta February. Lol
Nice. Thanks for sharing. So this will be trading by April first and on its way...
Looked at the SEC filings for this and his first spac, they are filed in tandem leading me to think this is on track for March. April at latest. Once that gets narrowed down this will get its fair recognition as the opportunity it is. No worries here and added as much as I can. Staying patient for the payday????????????. ????????????
Looking at the filings for this and BFT his second spac, they look like they are close to the same duration or timeline to get public. I liked what I read about this Aline company. Seemed to have a lot of growth and the companies in their pipeline were rediculous in quality and 70 of the top 100? Half the Fortune 500? Seems to be undervalued. Both his Spacs are discounted big time. Let’s hope it happens soon so we can get off the ETF roller coasters.
BRGGF was down for a second and is my top gainer for the day. People in the know are buying before Friday. Worth a look
Awesome buying Opp. Added 2k more!! Never thought we’d go below 2 again.
BRGGF 1 week until the US and 14 other countries are added to the company’s list of active countries with users. New. Oars member starts, momentum will be moving into this big time throughout the month.
https://finance.yahoo.com/quote/BRGGF/community/
I’ve seen that too. This is tremendous!! It’s one of those that are quiet as a spac but I think it’ll be a hold for hedge funds and big players for years to come. A year from now we will be happy for every share.
BFT Is taking PAYSAFE public. Value is nearly $8billion. Current price of the stock is only around $2 bil. Easy triple without the value of the customers like Draftkings and Spotify, states gaming platforms and lotto pay processing across multiple countries. Not exactly Paypal but similar if I were to describe it. Do yourself a favor and check it out. Lots of filings this week of owned shares, I think it’s getting close! .... https://www.sec.gov/Archives/edgar/data/1818355/000119312520311998/d54063d425.htm
BFT Is taking PAYSAFE public. Value is nearly $8billion. Current price of the stock is only around $2 bil. Easy triple without the value of the customers like Draftkings and Spotify, states gaming platforms and lotto pay processing across multiple countries. Not exactly Paypal but similar if I were to describe it. Do yourself a favor and check it out. Lots of filings of owned shares, I think it’s getting close! .... https://www.sec.gov/Archives/edgar/data/1818355/000119312520311998/d54063d425.htm
BFT is the spac to be in very shortly. Taking PAYSAFE public. Value is nearly $8billion. Current price of the stock is only around $2 bil. Easy triple without the value of the customers like Draftkings and Spotify, states gaming platforms and lotto pay processing across multiple countries. Not exactly Paypal but similar if I were to describe it. Do yourself a favor and check it out. Lots of filings of owned shares, I think it’s getting close! .... https://www.sec.gov/Archives/edgar/data/1818355/000119312520311998/d54063d425.htm
More I look the more I find.
New Game: Bills C-13 and C-218 and the Legalization of Single-Event Sports Wagering in Canada
February 8, 2021
Kevin Bailie
Parliament appears primed to lift Canada’s longstanding restrictions on single-event sports wagering, opening the door to the emergence of regulated sports betting platforms in the Canadian market. Two bills with this purpose – one sponsored by the Government and another by the Official Opposition – are currently under consideration in the House of Commons. While the proposed Criminal Code amendments that would make this possible are a matter for the federal Parliament, any new sports betting marketplace would be implemented and regulated primarily at the provincial level.
Background
Limited forms of sports betting have been legal in Canada since the early 1990s, but single-game wagering has continued to be prohibited by Section 207(4)(b) of the Criminal Code. On November 26, 2020, however, the Minister of Justice introduced legislative amendments to the Criminal Code in the form of Bill C-13, which would, in effect, enable provinces to create a “lottery scheme” involving single-event sports wagering.[1] Bill C-13 is similar in substance to Bill C-218, a private member’s bill introduced by a Conservative MP in February 2020, which remains on the Parliamentary agenda (although there are certain differences that relate mainly to horse-racing).
These developments follow a similar trend in the United States. In May 2018, the U.S. Supreme Court overturned the Professional and Amateur Sports Protection Act providing each state the autonomy to regulate sports wagering within their borders. Since the decision, eighteen states have passed legislation to legalize some form of sports wagering, with others likely to follow.[2]
Economic Potential
The longstanding reluctance to legalize single-event wagering in Canada – reflected in the failure of previous bills of this type in recent years – may have been softened by the revenue needs of Canada’s governments during the pandemic. For example, in the Ontario Budget of November 5, 2020, the government referred to gambling regulation as part of its plan to move the province out of the COVID-19 Pandemic.[3] This statement also indicated that Ontario plans to open the “iGaming” market to the private sector, with the oversight of the Alcohol Commission of Ontario, rather than remaining reliant on a single-operator system under the Ontario Lottery and Gaming Corporation. The Atlantic Lottery Corporation[4] and British Columbia Lottery Corporation[5] have also commented on the feasibility of the potential introduction of single-event wagering in the jurisdictions they represent.
The Canadian Gaming Association (the “CGA”) estimates that Canadians spend upwards of $14 billion every year on illegal or offshore single-event sports wagering. This is compared to the approximately $500 million wagered through provincial sports lotteries, such as Ontario’s “Pro-Line”.[6] Furthermore, the CGA estimates that Ontario’s iGaming market, presently valued at $547 million annually, would immediately balloon to roughly $1.47 billion upon legalization.[7]
Canadian jurisdictions are likely looking to replicate the experiences of U.S. states that have passed sports-wagering legislation. For example, in Pennsylvania a limited number of licenses are offered to private sector licensees who must agree to a one-time fee of $10 million and having their wagering-related revenue taxed at a rate of 36%.[8] Under this arrangement, Pennsylvania has seen over $45 billion dollars in total “handle” (the aggregate amount wagered), directly generating just under $98 million in tax revenue for the state.[9]
Next Steps
Bill C-13 has yet to be given a date for its second reading. However, Bill C-218 is scheduled to receive second reading on February 17, 2021. It appears that each of the three major opposition parties supports Bill C-218, which may provide it with enough support to proceed to the Justice Committee and thereafter to third reading. It would then have to undergo a similar process in the Senate before becoming law. However, regardless of which of the two Bills ultimately prevails, with growing support and increasing traction within Parliament the legalization of single-event sports wagering appears to be more a question of when rather than if.
We will continue to monitor and publish developments related to Bills C-13 and C-218, and the legalization of single-event sports wagering.
The author would like to acknowledge the support and assistance of William Quaglietta, articling student at law.
[1] “Federal Government introduces legislation to decriminalize single event sport betting in Canada, support jobs” (Department of Justice Canada, November 26, 2020).
[2] Rodenberg, Ryan, “United States of sports betting” (ESPN, November 3, 2020).
[3] “Ontario’s Action Plan, 2020 Ontario Budget” (Queen’s Printer for Ontario, 2020).
[4] Campbell, Kerry, “Atlantic Lotto ready to score should Ottawa allow single-event sports betting” (CBC News, December 11, 2020).
[5] Fletcher, Robert, “BCLC urges government to pass single-even betting amendment” (iGB North America, February 2, 2021).
[6] Mergulhao, Sandra, “Online gambling firms expect Ontario to lift key operator ban” (Bloomberg News, November 2, 2020).
[7] “Canadian Gaming Association urges quick action on legislation for sports betting” (Canadian Gaming Association, November 3, 2020).
Article about BRAGG new board member Lara Falcon.
Article while she was at NetInt. Now at Bragg! ...........https://hot50.gamingintelligence.com/hot50/lara-falzon/ ............Lara Falzon Operational chief financial officer NetEnt Few in-house finance professionals are as influential or as busy as Lara Falzon.
After cutting her gaming industry teeth at King.com, she joined Evoke Gaming and was instrumental in selling the business to Mr Green. She then joined Red Tiger and was instrumental in selling that business to NetEnt.
She stayed on at NetEnt and was instrumental in selling the business to Evolution Gaming. You can spot the theme. Falzon makes good companies great companies, and then is expert at guiding them through the acquisition process.
Evolution would be wise to make her an offer she can not refuse when it finalises the acquisition of NetEnt. If it does not, watch her next move. It will be to a company that is going places. ( That company is now BRAGG!!! )
I like where this is going. Get it up and kicking butt then it gets acquired. Article while she was at NetInt. Now at Bragg!
https://hot50.gamingintelligence.com/hot50/lara-falzon/
Lara Falzon
Operational chief financial officer
NetEnt
Few in-house finance professionals are as influential or as busy as Lara Falzon. After cutting her gaming industry teeth at King.com, she joined Evoke Gaming and was instrumental in selling the business to Mr Green. She then joined Red Tiger and was instrumental in selling that business to NetEnt. She stayed on at NetEnt and was instrumental in selling the business to Evolution Gaming.
You can spot the theme. Falzon makes good companies great companies, and then is expert at guiding them through the acquisition process. Evolution would be wise to make her an offer she can not refuse when it finalises the acquisition of NetEnt. If it does not, watch her next move. It will be to a company that is going places.
Couple weeks old but this gem is essentially a new company!
Found this on their news link at https://www.bragg.games/press-releases-1/2021/1/27/bragg-gaming-provides-corporate-update-in-advance-of-graduation-to-toronto-stock-exchange
Gaming technology provider accelerates its expansion into U.S. and Canadian iGaming markets
TORONTO, Jan. 26, 2021 (GLOBE NEWSWIRE) -- Bragg Gaming Group (TSXV: BRAG, OTC: BRGGF) ("Bragg" or the "Company") announced today that the Company is accelerating its expansion into the U.S. and Canadian iGaming markets.
Bragg’s recent completion of a number of its strategic objectives, including:
The Company’s recently completed acquisition and earn-out of ORYX Gaming
Transformation of the Company’s balance sheet from liabilities of circa C$50.0M to currently more than C$40.0M of cash upon the anticipated full conversion of accelerated warrants;
Strengthening of the board of directors with the recent additions of Richard Carter and Paul Godfrey;
Graduation to the Toronto Stock Exchange on Wednesday, January 27, 2021
have created a strong foundation for the company to accelerate its expansion into the burgeoning U.S. and Canadian markets. The Company is increasing its investment in its technology, regulatory/compliance and business development teams to ensure that it is optimally positioned to capture new U.S. and Canadian revenue streams. Bragg intends to launch their cutting-edge B2B iGaming technology platform and casino content aggregator in all states that permit iGaming, with the intent of building a leadership position in the B2B space. The Company is currently in the process of applying for B2B supplier licenses in New York and New Jersey. Bragg’s growth strategy is predicated on filing for B2B supplier licenses in all other states where iGaming is regulated and in Canada once legislation permits.
“Our successful achievement of the key objectives we set earlier in 2020 has allowed us to move ahead with our global plans more quickly than we’d anticipated,” said Adam Arviv, CEO of Bragg Gaming. “We’re now focused on growing in two vital areas – quickly building share in the surging U.S. B2B gaming market, while also leveraging our significant success in European and Latin American markets by diversifying our offering in our key jurisdictions.”
Bragg is also focusing on building scale and growing market share in worldwide casino markets, particularly in its stronghold E.U., through an augmented and diversified product offering. Bragg is in the process of applying for various European B2B supplier licenses, most notably the U.K. Gambling Commission. The Company is enhancing its content base through leading studios, growing its existing Sportsbook and Lottery products, expanding into new products, such as instant-win, and enhancing its iGaming platform services. Bragg is also heightening its focus on local market regulatory compliance where it offers B2B services.
The Company also provided a trading update today. Revenue for FY 2020 was ahead of management expectations with adjusted EBITDA expected to hit the higher end of the range. The outlook for FY 2021 for revenue remains unchanged (C$73.5M) with adjusted EBITDA of C$6.4M, with the change in EBITDA reflecting the Company’s commitment for significant investment within FY 2021 to focus on U.S. and Canadian growth and expansion. Bragg will continue to update on its progress in its upcoming FY 2020 financial reporting in March, 2021
So someone explain to me how cciv can be in the 50s on RUMORS when this deal is like 4.5x bigger and with tremendous revenue? I have no doubt that this is and will be recognized and fly once a vote date is set to finalize this. Guard your gold folks. Like a pot of gold at this price. Rant over. Lol.
Rising slow and steady and building a solid company.. with the press release today BRGGF looks like they are working on that Nasdaq plan just like they said.
First step was Toronto stock exchange then off otcc and onto Nasdaq. They are compared to GAN in a recent interview with a P/E of 3 they are undervalued. Once they are available in the US for the gaming apps ( and 13 other countries) on March 1st this is going to be way above the $2s.
BRGGF up another 11% today. Steady gains and a lot going on with that on. Compare to GAN. Currently trading on TSX but working on a NASDAQ listing.
TORONTO, Feb. 16, 2021 (GLOBE NEWSWIRE) -- B2B gaming technology provider Bragg Gaming Group (TSX:BRAG, OTC: BRGGF) ("Bragg" or the "Company") announced today that gaming industry veteran Lara Falzon has been elected to the Board of Bragg Gaming, effective March 1, 2021.
Ms. Falzon brings significant financial expertise in the gaming sector to Bragg, as well as experience in listing on the NASDAQ, a 2021 goal for Bragg. As CFO of casino software provider Red Tiger Gaming, Ms. Falzon navigated the 2019 sale of Red Tiger to NetEnt AB for over US$315 million. NetEnt’s most recently reported earnings increased by 58 per cent year-over-year, with US market revenues jumping 313 per cent. She also played an instrumental role in the September 2020 sale of NetEnt for $2.1 billion to the world’s leading live casino company Evolution Gaming (now Evolution). Evolution most recently reported a 48 per cent jump in revenues over the first nine months of the year to US $462 million.
Watch this video. Company only has a P/E of 3 compared to its peer GAN, details growth plan. Truly a great entry opportunity. ..........
TORONTO, Feb. 16, 2021 (GLOBE NEWSWIRE) -- B2B gaming technology provider Bragg Gaming Group (TSX:BRAG, OTC: BRGGF) ("Bragg" or the "Company") announced today that gaming industry veteran Lara Falzon has been elected to the Board of Bragg Gaming, effective March 1, 2021.
Ms. Falzon brings significant financial expertise in the gaming sector to Bragg, as well as experience in listing on the NASDAQ, a 2021 goal for Bragg. As CFO of casino software provider Red Tiger Gaming, Ms. Falzon navigated the 2019 sale of Red Tiger to NetEnt AB for over US$315 million. NetEnt’s most recently reported earnings increased by 58 per cent year-over-year, with US market revenues jumping 313 per cent. She also played an instrumental role in the September 2020 sale of NetEnt for $2.1 billion to the world’s leading live casino company Evolution Gaming (now Evolution). Evolution most recently reported a 48 per cent jump in revenues over the first nine months of the year to US $462 million.
Good opportunity on this one in my opinion. Read more on this. They are not even live in the US yet but will be March 1.
BRGGF up another 11% today. Steady gains and a lot going on with that on. Compare to GAN. Currently trading on TSX but working on a NASDAQ listing.
TORONTO, Feb. 16, 2021 (GLOBE NEWSWIRE) -- B2B gaming technology provider Bragg Gaming Group (TSX:BRAG, OTC: BRGGF) ("Bragg" or the "Company") announced today that gaming industry veteran Lara Falzon has been elected to the Board of Bragg Gaming, effective March 1, 2021.
Ms. Falzon brings significant financial expertise in the gaming sector to Bragg, as well as experience in listing on the NASDAQ, a 2021 goal for Bragg. As CFO of casino software provider Red Tiger Gaming, Ms. Falzon navigated the 2019 sale of Red Tiger to NetEnt AB for over US$315 million. NetEnt’s most recently reported earnings increased by 58 per cent year-over-year, with US market revenues jumping 313 per cent. She also played an instrumental role in the September 2020 sale of NetEnt for $2.1 billion to the world’s leading live casino company Evolution Gaming (now Evolution). Evolution most recently reported a 48 per cent jump in revenues over the first nine months of the year to US $462 million.
Trading price stalemate. Look like a lot are just holding and some nibbling. Kind of think it’ll edge up as the week goes on and we get closer to the release which I expect Friday.
NetEnt Star CFO Lara Falzon Joins Bragg Board
February 16, 2021 09:16 ET
TORONTO, Feb. 16, 2021 (GLOBE NEWSWIRE) -- B2B gaming technology provider Bragg Gaming Group ( TSX:BRAG , OTC: BRGGF ) (" Bragg " or the " Company ") announced today that gaming industry veteran Lara Falzon has been elected to the Board of Bragg Gaming, effective March 1, 2021.
Ms. Falzon brings significant financial expertise in the gaming sector to Bragg, as well as experience in listing on the NASDAQ, a 2021 goal for Bragg. As CFO of casino software provider Red Tiger Gaming, Ms. Falzon navigated the 2019 sale of Red Tiger to NetEnt AB for over US$315 million. NetEnt’s most recently reported earnings increased by 58 per cent year-over-year, with US market revenues jumping 313 per cent. She also played an instrumental role in the September 2020 sale of NetEnt for $2.1 billion to the world’s leading live casino company Evolution Gaming (now Evolution). Evolution most recently reported a 48 per cent jump in revenues over the first nine months of the year to US $462 million.
“We’re very pleased to have Lara join our championship team - she brings tremendous industry experience,” said Adam Arviv, CEO of Bragg Gaming. “Her financial experience in the gaming sector is unmatched in the industry and will be very valuable as we continue our global growth strategy.”
Ms. Falzon currently holds the role of Operational CFO of NetEnt and CFO at Red Tiger Gaming. She previously held the roles of Group CFO at Evoke Gaming Ltd. and Group Financial Controller at King. Ms. Falzon is a member of the Association of Chartered Accountants and holds a Bachelor of Commerce from the University of Malta.
“I’m thrilled to join the team at such an exciting time in Bragg’s evolution,” said Ms. Falzon. “Bragg continues to outperform on their expansion goals and I’m happy to contribute my expertise to the mission.”