Daily Archives: September 2, 2021

NEW YORK, Sept. 02, 2021 (GLOBE NEWSWIRE) -- Wall Street Reporter, the trusted name in financial news since 1843, has published reports on the latest comments and insights from leaders at: Penn National Gaming (NASDAQ: PENN), FansUnite (OTC: FUNFF) (CSE: FANS), Rush Street Interactive (NYSE: RSI) and Genius Sports Limited (NYSE: GENI). Wall Street Reporter highlights the latest comments from industry thought leaders in the esports, digital entertainment, and gaming markets:

FansUnite (OTC: FUNFF) (CSE: FANS) Positioned for Exponential Revenue Growth in iGaming, E-Sports, Online Sports Betting

In his latest presentation at Wall Street Reporters NEXT SUPER STOCK livestream, FansUnite (OTC: FUNFF) (CSE: FANS) CEO Scott Burton shared the global i-gaming companys latest progress and milestones in the multi-billion dollar i-gaming, and sports betting market. FUNFF was recently granted a UK gaming license, enabling the Company to serve as a Business-to-Business technology provider and Business-to-Consumer operator in the $20 billion+ UK online gambling market, which is one of the world's largest online betting markets. FUNFF is also positioned to play a foundational role in Canadian sports betting as that market opens.

Watch FansUnite (OTC: FUNFF) (CSE: FANS) NEXT SUPER STOCK Video: https://bit.ly/3BzfqBt

FUNFF has developed a one of a kind i-gaming platform, with a sports and esports focus geared for the next generation of online bettors and casino players. The platform includes products for pre-match betting, in-play betting, daily fantasy, content and a certified RNG to produce casino style chance games. Scott Burton shared that the RNG games are expected to be a major source of revenue, thanks to a distribution deal with a major online casino games aggregator which can license the games to thousands of online casinos - setting the stage for exponential revenue growth opportunities.

FUNFF recently appointed i-Gaming industry veteran Mike Lee, as VP of gaming to lead the development and growth of FUNFF casino operations, launching new i-Gaming products and expanding global distribution. Mike Lee was the CEO of Genesis Gaming, a prominent gaming provider, where he oversaw the company's global business operations, leading the development of Genesis Gaming's game delivery platform and overseeing an extensive portfolio of more than 100 gaming titles. Burton also shared that FUNFF, with a recently closed C$24.7 capital raise, is well positioned to take advantage of potential M&A opportunities in the online gaming industry in the coming months.

Watch FansUnite (OTC: FUNFF) (CSE: FANS) NEXT SUPER STOCK Video: https://bit.ly/3BzfqBt

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Penn National Gaming (NASDAQ: PENN) CEO, Jay Snowden: Creating North America's Leading Digital Sports Content Gaming and Technology Company

...We're preparing to launch the Barstool Sportsbook app in four or five more states by the start of NFL season next month. And by the end of this calendar year, we expect to be live in at least 10 states, while also introducing several new features to the app, such as same-game parlay and shareable bet slip, which we're really excited about...With greater operating scale and leverage, improved products and unique value-creating marketing strategies, we believe we are extremely well positioned for a strong fall, as we roll into Barstool Sports' favorite time of the year, football season, which provides a nice segue to our pending acquisition of theScore, which is the number one sports app and sports media name in Canada and the third most popular sports app and sports media name in North America.

When we add theScore's unique integrated media and betting platform and modern state-of-the-art technology to the massive audience of Barstool Sports and its wildly popular personalities and content, we'll be creating North America's leading digital sports content gaming and technology company...We are uniquely positioned to seamlessly serve our customers with the most powerful ecosystem of sports, gaming and media in North America, ultimately creating a community that does not exist today...This transaction will allow us to provide state-of-the-art mobile sports betting and iCasino with highly customized bets and enhanced in-game wagering opportunities along with highly engaging personalized sports and media content and real-time scores stats and videos.

...We believe this powerful new flywheel will result in best-in-class engagement, retention and loyalty and this larger cross-promotion ecosystem will provide us with multiple growth channels that transcend our current business verticals. In the near-term, we'll just be scratching the surface of where we can ultimately take this company. The transaction also provides us with a path to full control of our own tech stack with a deep pool of engineering talent

Penn National Gaming (NASDAQ: PENN) Earnings Highlights:https://bit.ly/3kKjI2k

Rush Street Interactive (NYSE: RSI) Richard Schwartz, CEO: Momentum Building for Sports Betting and Online Casino Games...Revenue was $122.8 million during the quarter, representing a year-over-year increase of 89%. Not only did we grow casino revenue sequentially during the period, but also sportsbook revenues despite a lighter sports calendar. With this continued success and growth in our business, we are once again raising our guidance. We now expect our 2021 full-year guidance to be between $455 million and $495 million implying 72% year-over-year top-line growth at the midpoint.

We have continued to make significant progress in our market access initiative... We have been selected by the Connecticut Lottery to be a sports betting partner, making RSI one of only three sportsbook operators who will be authorized to operate in the state...New York has recently accepted bids... We formally submitted our bid as part of the process. We are excited about the opportunity to offer our online sportsbook in the state of New York...We have no shortage of near-term opportunities and expected state launches coming over the next couple of quarters. And our business development team is hard at work to continue the strong momentum to secure partnerships in many new jurisdictions.

We also continue to be very encouraged by the legislative momentum for online sports betting and the addition of online casinos in many states which already have approved sports betting. It has become very clear we are looking at the numbers in New Jersey, Pennsylvania and Michigan that online casino is a greater generator of cash revenue, and many state legislators are recognizing this opportunity.

Rush Street Interactive (NYSE: RSI) Earnings Highlights: https://bit.ly/3yHz38y

Genius Sports Limited (NYSE: GENI) Mark Locke, CEO: At the Heart of sports, betting and media Ecosystem...Genius is uniquely positioned at the heart of the sports ecosystem that connects sports, betting and media. Over our long history, we built a proprietary technology platform that our partners depend on to streamline data collection and distribution, engage audiences and ultimately monetize sports fans. By partnering with hundreds of sports leagues and federations, sportsbook operators and media brands across the globe, we are well positioned to capitalize on the growth in the sports betting market. While our fast growing sports betting market presents the best opportunity to monetize sports fans today, our vision stems far beyond the boundaries of sports betting alone. We are focused on building a tech platform that enables our partners to monetize their audience in a multitude of ways tomorrow, whether through betting, ticketing, merchandising or others

The business model we have in place allows us to participate in the upside of the US market. As the US markets revenues from gaming grow, our revenue also grows, regardless of which B2C player wins share. We're currently permitted to supply - in 13 US states and three tribal jurisdictions and have a proactive US license strategy, ensuring that there is no market in the US where we will not be able to operate...We are revising our full year 2021 revenue guidance to a range of $250 million to $260 million, up roughly 30% to 35% from where we guided the market to previously

Genius Sports Limited (NYSE: GENI) Earnings Highlights: https://bit.ly/38C9ewi

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Sports Betting and I-Gaming Leaders: Penn National Gaming, FansUnite, Rush Street Interactive, and Genius Sports positioned for Explosive Revenue...

Artificial Intelligence, which is commonly known as AI all around the world, is one of the biggest technological advancements to have emerged over the last couple of decades and there are signs that suggest it still has plenty of potential to improve. The very first time AI was introduced and perhaps taken seriously was when IBMs Deep Blue computer system took on the world chess champion, Garry Kasparov, and managed to defeat him in 1997, thus showing the world what technology had the capabilities of achieving, although it would have been unimaginable to have been able to predict what it has been able to do in the last few decades since.

Technology, specifically AI, is used on a daily basis by a vast number of the worlds population for a range of different tasks and it would perhaps be hard to be able to live those lives without it in the modern era. However, whilst it is extremely advanced, there is still plenty that it has the potential to achieve as it continues to remain as innovative as ever before.

One such industry where the technology has been crucial and where it is likely to continue to have an impact when it manages to develop further and provide users with more is the online casino industry as there are a host of ways in which it can improve the sector and make it even better for everyone that uses it, whether it be for users who use traditional gambling platforms or for those who have been technologically aware and have started to enjoy what online crypto gambling has been able to provide them with when placing a number of wagers and playing their favorite slot games.

A huge benefit that AI has brought to online gambling is the fact that online gambling platforms are provided with better security. As AI analyses data that has been acquired, it has the ability to track down players who have been cheating whilst using their services. This is a huge benefit as the virtual platforms have traditionally found it a lot harder to identify these users compared to their physical counterparts, as online players could go undetected if they were using programs that help them to overcome odds.

Another way in which AI has been influencing how online casinos operate is in regards to their marketing strategies and the methods that they adopt to try and attract new clients, whilst also ensuring that they are able to retain much of their existing client base and stop them from leaving and joining a competitor.

The platform will be able to collect certain pieces of data that can be used as a way of offering them something that will have a high chance of appealing to them, thus making it personalised, rather than providing them with a generic offer that may not have any impact on the gambler.

There is no doubt that data is incredibly important in marketing, so it should come as no surprise that many online casino operators spend a lot of money ensuring they have the best Artificial Intelligence tools available to them. It is not just the online casinos that benefit from the continued development of the technology, though, with players also able to enjoy a wealth of advantages that it continues to provide. One way in which gamblers will be impacted positively is in regards to the customer service that they receive from the sites that they visit.

A large portion of live chats is now operated by bots to begin with, as this type of software helps to solve any questions or issues, or at the very least, helps to direct those that require assistance to the right pages or places they need to visit. In addition to being intelligent and helpful, the bots used are typically quick and efficient but with AI continuing to evolve at a rapid pace, it would not be a surprise to see the customer services levels provided improve further in the near future.

Originally posted here:

How AI is influencing the online casino industry - Techiexpert.com - TechiExpert.com

A Wyoming fan showing her support for head coach Craig Bohl celebrates after a touchdown against Missouri in the second quarter of an NCAA college football game, Saturday, Aug. 31, 2019, in Laramie, Wyo. (AP Photo/Michael Smith)

Wyoming online sports betting can officially begin today after the Wyoming Gaming Commission held a special meeting and awarded the states first two online sports betting licenses to DraftKings and BetMGM.

The gaming commission approved online sports betting licenses to the sportsbook operators earlier this afternoon. Both DraftKings and BetMGM are currently live and accepting sports bets in the state. Online sports betting licenses cost an initial fee of $100,000 for five years while renewal fees cost $50,000.

The state has placed a 10% tax on sports betting revenues, of which a portion will be used to combat problem gaming.

The first three hundred thousand dollars ($300,000.00) of revenue generated under this section is continuously appropriated to the department of health to be distributed to the counties for the purpose of funding county health programs to prevent and treat problematic gambling behavior and the remainder of monies remitted to the commission shall be deposited by the state treasurer into the general fund, the bill reads.

Wyoming is the 13th state where DraftKings has launched its online sports betting app. Matt Kalish, co-founder and president of DraftKings North America, said legalized sports betting has experienced wide-spread growth in the past three years.

We are thrilled that Wyoming sports bettors have the opportunity to experience the highly accessible and immersive fan experience along with best in class consumer protections that our product offers millions of skin-in-the-game sports fans, he said in a statement.

Additional sports betting licenses may be awarded at the next schedule Wyoming Gaming Commission on Friday, Nov. 5.

Wyoming is the least populated state in the country and will likely not be a big-time player in the sports betting handle race. Its the 23rd state in the country to begin taking sports bets.

The final sports betting rules for the state were approved in early August. Wyoming is only the second state in the U.S. to not require online sports betting operators to be tethered to an existing casino, joining Tennessee with that unique distinction.

Wyomings sports betting bill (HB133) was passed in the Wyoming House after a reconsideration vote on March 10 and sent to the Senate. The Senate approved by bill by a vote of 25-5-1 on March 29 and passed House concurrence on March 30.

Gov. Mark Gordon signed the bill into law on April 5.

Gambling Regulatory Writer and Editor

Covering regulatory developments in online gambling. Editing/writing/creating a newsletter for readers across all formats.

Gambling

Covering regulatory developments in online gambling. Editing/writing/creating a newsletter for readers across all formats.

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Wyoming Online Sports Betting is Live After Licenses Awarded to DraftKings, BetMGM - Sports Betting Dime

After the dust settled yesterday from the bombshell announcement that seven sportsbook giants in the country were supporting a California sports betting initiative for the 2022 general election, details about the proposed online sports betting plan were released after the initiative was officially filed with the state attorney generals office.

The California Solutions to Homelessness and Mental Health Support Act was officially filed with the state attorney generals office and seeks to allow qualified sportsbook operators to partner with California Tribal Nations to operate online sports betting. Backed by DraftKings, BetMGM, FanDuel, Fanatics Betting and Gaming, Ballys Interactive, WynnBET and Penn National Gaming/Barstool Sportsbook through a $100 million contribution, the campaign for the initiative will now ready itself to start collecting verified signatures to officially place the initiative on the 2022 November general election ballot.

The 62-page initiative was made available to the public yesterday and offered new details into the proposed online sports betting plan for California, including a high-priced barrier to gain market access into the state.

The California Secretary of State will provide the initiative with a title and summary, which should take place in the next 65 days. Then the backing campaign will begin procuring thousands of needed verified signatures to qualify the initiative to be placed on the November 2022 general election ballot.

It may be a price worth paying, however, as California is home to the fifth largest economy in the world and will likely be one of the largest markets in the country if sports betting is legalized.

The proposed license fees for online tribal run sportsbook and qualified sportsbook operators are some of the highest in the country, offering a steep entry fee into what will prove to be one of the most successful sports betting markets in the country. A tribal run sportsbook license will cost $10 million for 5 years, while a qualified sportsbook operator license will cost $100 million for 5 years. Renewal fees for tribal licenses are set at $1 million and $10 million for qualified sportsbook operators.

By comparison, a New York online license costs $25 million for 10-years.

While the California license fees are pricy, the proposed tax rate is nominal, at only 10% of the online sports betting operators adjusted gross online sports betting revenue.

The initiative allocates 85% of revenue to the California Solutions to Homelessness and Mental Health Support Account, which will help combat homelessness and mental health issues in the state. The additional 15% of revenue will be allocated to the Tribal Economic Development Account, which will provide economic development and assistance to tribes in the state who do not participate in the online sports betting program. There are 104 federally recognized tribes in the state.

This is the third sports betting initiative to be filed in the state. The backers explain the California Solutions to Homelessness and Mental Health Support Act will not be in conflict with a Tribal-proposed initiative that has already qualified for the 2022 general election ballot. The Tribal initiative seeks voter approval to legalize in-person sports betting at tribal casinos.

Gambling Regulatory Writer and Editor

Covering regulatory developments in online gambling. Editing/writing/creating a newsletter for readers across all formats.

Gambling

Covering regulatory developments in online gambling. Editing/writing/creating a newsletter for readers across all formats.

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Taking a Deeper Look at the California Online Sports Betting Initiative - Sports Betting Dime