Strategy Archives - Page 6 of 10

April 13, 2023

Beter to move distribution in-house

Content and data provider Beter will move its content distribution system in-house as part of a new strategy to strengthen and expand its operator partnerships.

The basketball, MMA, esports, table tennis and igaming content supplier said that it wants to have greater control over the distribution of its content among its network of operator partners.

Beter has enjoyed “incredible success” in recent months, it explained, and intends to strengthen its existing partnerships, as well as work with more tier-one brands globally.

“We have made the strategic decision to take more control over the distribution of our content,” said Beter CEO Gal Ehrlich. “This decision is not a reflection of the incredible work our partner has done on our behalf, but rather an opportunity to align our distribution strategies with our long-term goals.

“We are confident that by taking a more active role in the distribution of our content, we will be better positioned to deliver on our commitment to provide t..

March 22, 2023

GiG banks on the power of two

Richard Brown’s tenure as Gaming Innovation Group (GiG) chief executive began with a major change of direction, with the sale of its B2C assets to Betsson. Almost four years on, and with business booming for the B2B supplier, he’s poised to make another huge call with plans to split the business into media and platform suppliers.

When he was confirmed as permanent CEO of Gaming Innovation Group (GiG) in November 2019, Richard Brown pledged a focus “on delivery, execution and optimisation, putting us on a path for great focus and renewed growth”.

The business reported revenue of €43.0m for 2019, at a time it encompassed B2C operations, a platform business and affiliate marketing operations under the GiG Media banner. Brown then divested the B2C operations to Betsson early in 2020.

This, he has explained previously, created a focused business, with staff putting all efforts into the B2B platform and media operations.

In 2022, Brown’s third full year as GiG CEO, revenue hit €90.1m,..

March 1, 2023

Better Collective signs media partnership with Goal

Denmark-based affiliate Better Collective has announced a global media partnership with Goal, the online football brand, to create sports betting content.

The deal will see Better Collective running the sports betting section of Goal across all the brand’s domains, which is featured in English, Spanish and Portuguese.

Better Collective will also provide Goal with sports betting content, as well as technology and data insights.

Jesper Søgaard, Better Collective CEO and co-founder, said that the deal is the start of bigger things to come from the affiliate.

“Partnering with such a well-recognised and renowned media like Goal perfectly aligns with our media partnership strategy and our overall strategy of becoming the leading digital sports media group,” said Søgaard. “There is no doubt in my mind that we will be able to benefit from each other’s expertise.”

Goal is owned by FootballCo, which operates other sports brands including Mundial, Spox and Voetbalzone.

James Lamon, Football..

February 17, 2023

Penn Entertainment completes acquisition of Barstool Sports

Omnichannel gaming operator Penn Entertainment has completed its acquisition of media business Barstool Sports.

The closing of the deal is the latest stage of an acquisition process that began in February 2020, when Penn purchased a 36% stake in Barstool.

Today (17 February), Penn revealed that it has paid approximately $388m (£322.5m/€363m) for the remaining interest in the business, having exercised its option to acquire in August 2022.

Read the full story on iGB North America

February 15, 2023

Bally Sport broadcaster Diamond Sports edges toward bankruptcy

Diamond Sports Group, operator of the Bally's branded TV sports networks, will miss $140m in interest payments due today (15 February), in a move that puts it near bankruptcy.

The company has instead chosen to enter a 30-day grace period on the interest payments. The interest payments relate to the company’s 6.625% senior unsecured notes due in 2027, the 5.375% 2L senior unsecured notes due 2026 and the 5.375% 3L senior secured notes due 2026.

Talks with creditors to continue

During this grace period, it said, talks with creditors and other key stakeholders will continue, “regarding potential strategic alternatives and deleveraging transactions to best position Diamond Sports Group for the future”.

This may result in the Sinclair Broadcast Group subsidiary filing for Chapter 11 bankruptcy, with its total debts reportedly $8.6bn.

Diamond Sports said it expects that “business will continue as usual” during this grace period. The company operates 19 regional sports networks (RS..

February 9, 2023

Playtech enters US retail sports betting market through Gold Rush Gaming partnership

Playtech has announced a new retail sports betting partnership with Gold Rush Gaming, which will allow Playtech to officially enter the US retail sports betting market.

As part of the deal, Playtech will supply its sports betting kiosk software and management systems to Gold Rush, which will be distributed across Ohio.

The rollout will initially cover 50 locations, and will be activated ahead of Super Bowl LVII on 12 February.

Read the full story on iGB North America

February 2, 2023

BetOnline agrees to sportsbook deal with Major League Wrestling

Major League Wrestling (MLW) has named BetOnline as its official sportsbook partner and title sponsor.

MLW is a multi-national pro-wrestling organisation and sports media holding company.

The sponsorship will begin this month.

Court Bauer, CEO of MLW, said that BetOnline is the ideal partner for MLW’s sports offerings, which consists of combat sports.

“Sports gaming is embedded in all forms of sports and a partner like BetOnline goes hand-in-hand with MLW and our distinct combat sports product,” said Bauer. “Just as they are a leader in the rapidly growing sports gaming space, MLW aims to lead in a time when pro wrestling has never been hotter, and we’re looking forward to all the ways this partnership will grow.”

This deal follows MLW’s recent announcement of its distribution deal with Reelz, which will distribute MLW’s new weekly flagship series MLW Underground Wrestling and produce the first MLW action figures.

“We are extremely thrilled to partner with Major League Wrestling ..

January 19, 2023

Inspired Entertainment promotes Pierce to CEO

Inspired Entertainment has promoted its current president and chief operating officer Brooks H Pierce to the role of chief executive.

Pierce succeeds former CEO, A Lorne Weil, who has subsequently been promoted to executive chair of the supplier’s board.

Besides his CEO duties, Pierce will also continue in his role as chief operating officer and have additional oversight on company strategy.

As part of the promotion, Pierce’s terms of employment have been extended to 31 December 2026. His base salary has increased to $585,000 with a bonus eligibility of up to 110% of his annual salary, meaning he could earn up to $1.2m depending on performance.

Alongside Pierce’s promotion, executive chairman Weil’s terms of employment have been extended to 31 December 2027.

Weil’s updated terms of employment include a salary increase to $800,000 per annum, and an 80,000 yearly limit on shares.

The business said the leadership changes were part of a wider plan to streamline strategic oversi..

January 19, 2023

Kambi to pursue efficiencies as it aims for €150m profit goal

Kambi expects to reduce the headcount of its trading department by 2027 as it pivots to an algorithm-led approach in order to hit an ambitious long-term operating profit target.

Kambi this morning revealed a €150m (£130.9m/$161.9m) earnings before interest and tax (EBIT) target for 2027 and, in a capital markets day, executives outlined how the business intends to reach that figure.

The business also revealed that it expected revenue in 2027 to be between two and three times the size of its 2022 revenue. As the relative growth in EBIT would be larger than the relative growth in revenue, this suggested that Kambi hopes to increase its profit margins as it expands.

Now, the supplier has provided more detail of this, with a pivot towards more algorithmic trading helping to drive the projected increase in efficiency.

Kambi embracing algorithmic trading

Kambi deputy chief executive Erik Lögdberg described this pivot as “third-generation sports betting”. He said that currently, most spo..

January 19, 2023

Kambi to pursue efficiencies as it aims for €150m profit goal

Kambi expects to pursue a more personnel-light strategy within its trading department by 2027 as it pivots to an algorithm-led approach in order to hit an ambitious long-term operating profit target.

Now, the supplier has provided more detail of this, with a pivot towards more algorithmic trading helping to drive the projected increase in efficiency.

Kambi embracing algorithmic trading

Kambi deputy chief executive Erik Lögdberg described this pivot as “third-generation sports betting”. He said th..

January 12, 2023

Entain completes €450m BetCity acquisition

Entain has completed the €450m (£398.1m/$484.2m) acquisition of Dutch operator BetCity from Sports Entertainment Media.

The deal grants Entain access to the Dutch regulated market, where BetCity was one of the initial 10 licensees and quickly became a market leader after the market launched on 1 October 2021, holding a 20% market share in Q4 of 2021.

Entain’s brands had not been able to launch in the Nertherlands as part of the initial batch of licensees due to the country’s “cooling-off” period for operators that accepted Dutch customers before the market opened.

While this period ended last year, and Entain had initially expected its legacy brands to receive licences in 2022, this has not yet happened.

“We are pleased to have completed the acquisition of BetCity,” Entain chief executive Jette Nygaar-Andersen said. “The combination of BetCity’s local expertise and strong brand, alongside Entain’s global scale and market-leading platform provides customers with an enriched and broa..

January 11, 2023

Number of players on Malta-licensed sites hits record high in H1 2022

The number of players gambling with Malta-licensed operators hit a new high in the first half of 2022, after declines in the previous year.

The number of active player accounts with Malta-licensed operators rose by 8.7% year-on-year after a decline in 2021, to 19.3 million. This exceeded the previous high of 19.0 million recorded in the last six months of 2020.

The rise was mostly due to a record 8.9 million new accounts being created.

Much of the rise was due to higher numbers of younger players, with the portion of players aged between 18 and 24 rising to almost 25% of the total player base. In addition, the Malta gaming sector was found to have contributed €573m in gross value added for the half-year, or 8.0% of the Maltese economy. The gross value added total was up 12.4% from the first half of 2021.

The sector also employed 10,861 people as of June 2022, almost 600 more than a year earlier.

“The resilience of the Malta gaming industry during these trying times is largely att..

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Tag: Strategy