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Daily Archives: January 8, 2024

January 8, 2024

Corinthians signs record R$370m deal with VaideBet

Corinthians has announced a R$370m (£59.8m/€69.4m/$75.9m) deal with VaideBet, the biggest ever sponsorship in Brazilian football history.

One of the biggest clubs in Brazil, as well as South America, Corinthians will have VaideBet as its front-of-shirt sponsor for the next three years. The partnership is VaideBet’s first move into the football market.

The agreement comes in the wake of the approval of Bill 3,626/2023, with sports betting soon to be legal in the country.

Corinthians president Augusto Melo said: “We are very happy to bring Corinthians the biggest sponsorship in the history of Brazilian football. We have always stressed that Corinthians has the biggest brand in South American football and one of the biggest in world.”

Andre Murilo, chief financial officer of VaideBet, added: “Sponsoring Corinthians is sponsoring not only one of the main institutions in Brazil, but also a club with a very beautiful history and a fan base that is admittedly passionate, engaged and uniqu..

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January 8, 2024

Kambi CEO Kristian Nylén announces resignation

CEO and co-founder of Kambi, Kristian Nylén, has notified the board of his intention to step down from his current position during the year, upon the appointment of a successor.

Nylén co-founded Kambi with Anders Strom in 2010. He has since built the company into one of the industry’s leading sportsbook suppliers.

It is understood that Nylén’s decision to resign is driven by his desire to spend more time with his family.

Commenting, Nylén said: “The decision to stand down from my position at Kambi after so many enjoyable years has been difficult, but one predominantly driven by my desire to spend more time with my young and growing family.”

Nylén plans to stand down from his current position during the year, upon the appointment of a successor.

The market has so far not reacted too heavily to the news. At the time of writing, Kambi’s share price was down 1.83%, to SEK160.50 (€14.79/ £12.29/ $15.69).

Timing of Nylén’s resignation

Nylén’s announcement follows a period of sustai..

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January 8, 2024

DraftKings and BetMGM secure market access in North Carolina

DraftKings and BetMGM have struck market access agreements in North Carolina ahead of the Tarheel State launching its legal sports betting market.

Both arrangements cover sports wagering in North Carolina. DraftKings will partner with stock-car racing series Nascar and BetMGM the Charlotte Motor Speedway in the state.

Under DraftKings’ deal with Nascar, the operator becomes the series’ exclusive daily fantasy sports partner in the US and Canada. DraftKings will also be an authorised gaming operator of NASCAR and secure additional sponsorship benefits across Nascar.

Subject to regulatory and licence approvals, North Carolina will become the 27th US state in which DraftKings is active. This comes after it also secured approval in Vermont last month.

“DraftKings and Nascar have collaborated closely with each other over the years, sharing a like-minded commitment to enhancing the fan experience,” DraftKings’ North America president, Matt Kalish, said. “We look forward to the next chapt..

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January 8, 2024

Iowa reveals year-on-year sports betting growth in December

The Iowa Racing and Gaming Commission (IRGC) reported a year-on-year increase in sports betting handle and revenue during December.

Player spending in December amounted to $282.7m (£222.5m/€258.3m). This was 23.0% up from $229.9m in Iowa in December 2022 but 2.4% behind $289.7m in November 2023.

Of this total, $258.3m was spent betting on sports online, with a further $24.4m wagered at retail sportsbooks across Iowa.

Turning to revenue, this amounted to $26.3m in December, which was up 28.9% from $20.4m in the previous year and also 86.5% ahead of November’s $14.1m haul.

Online betting accounted for $23.6m of all revenue and retail wagering $2.7m.

Iowa players won a total of $256.5m from sports betting in December. The state was able to collect $1.8m in tax from wagering.

Diamond Jo Dubuque and FanDuel ahead of the pack in Iowa

Looking at individual operators, Diamond Jo Dubuque and partner FanDuel remain out in front in Iowa. Revenue from the partnership in December amounted to..

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