NEW YORK, Jan. 20, 2021 /PRNewswire/ -- We are in the middle of an unprecedented time in the legal gambling industry. New markets all over the world are opening up to regulated online and land-based gaming. Most recently, November ballot initiatives opened up US states Maryland and Louisiana to online sports betting and Nebraska and Virginia to casino gambling, joining major US markets like New York, Michigan, and Oregon as states seeing notable legislative breakthroughs in 2020. Meanwhile, key European markets like Germany or the Netherlands are seeing legal breakthroughs of their own and setting up huge opportunities for international gaming companies. As major markets in Europe, Asia Pacific, and the Americas strengthen the global betting industry, companies like Bragg Gaming Group (TSXV: BRAG) (OTCQX: BRGGF), Entain Plc (OTCPK: GMVHF), DraftKings Inc (NASDAQ: DKNG), Rush Street Interactive (NYSE: RSI), and 888 Holdings (OTCPK: EIHDF) are expanding their global footprints into new markets with nearly limitless potential.
Betting Industry Partnerships Bring Bragg Gaming Group into New Markets
A rush on online casino and sportsbook operators moving into new emerging markets is great news for betting industry-focused technology providers like Bragg Gaming Group (TSXV:BRAG) (OTCQX:BRGGF). Bragg is a provider of turnkey, digital solutions for online casino and sportsbook operators. Through its subsidiary ORYX Gaming, the company specializes in setting licensed operators up with everything they need to get their betting sites up and running. ORYX's products include a fully functional white label desktop and mobile iGaming platform complete with an extensive library of advanced first and third casino content, as well as sportsbook, lottery, marketing, and operational services, including transaction handling in multiple currencies and more.
Bragg's partnerships are taking the company into emerging and established online betting markets all over the world. Most recently, the company expanded its footprint in Germany through a new partnership with StarGames. The deal will see ORYX providing StarGames with its extensive portfolio content, as well as with player engagement tools and data services. This partnership comes at an opportune time for Bragg to cement its foothold in the German market as it fully opens over the next year.
Bragg also recently partnered with JVH Gaming & Entertainment Group, giving the company its entry point into the Netherlands market as well. To cement the deal, ORYX will provide JVH with its iGaming platform, which will bring JVH's business online for the first time.
In December, Bragg announced a multi-jurisdictional deal with Finnish international casino operator Paf that will see ORYX content distributed in Sweden, Estonia, Spain, Latvia, and Finland. In November, Bragg entered the Swiss market via a partnership with online casino operator mycasino.ch by Grand Casino Luzern. The company has had an eye on the Swiss market since 2019 when legislation opened the country to online betting.
"We've made extraordinary progress in 2020 and are very pleased with the substantial revenue and EBITDA growth that we've delivered," Bragg CEO Adam Arviv said in a recent release on the company's Q3 revenue growth. "We continue to expand globally, enhancing our content portfolio and technology offering, and securing new customers across key geographies."
Gaming Companies Find New Opportunities in New Markets
Gaming company Entain Plc (OTC:GMVHF) announced on January 7 that it would be moving into the Baltic gaming markets via a £250 million offer for Enlabs, a leading gaming company operating in Baltic markets like Latvia, Estonia, and Lithuania. Entain sees enormous opportunity in the locally regulated and fast-growing Baltic markets and sees Entain's foothold in these counties as an ideal way in.
In November, leading sports betting company DraftKings Inc (NASDAQ:DKNG) launched its mobile sportsbook app in Tennessee. DraftKings has been rapidly expanding throughout the United States in recent months, in part due to legislative momentum for online sports betting throughout the country. Tennessee is now the ninth state in which the DraftKings app is operating. The company also established itself in Illinois, West Virginia, Pennsylvania, and New Jersey in the latter half of 2020. DraftKings has been expanding internationally as well, partnering with South African casino operator Peermont Hotels, Gaming and Resorts in October.
Online casino and sports betting gaming company Rush Street Interactive (NYSE:RSI) announced in December that the company had finalized an agreement with Century Casinos to launch an online casino in West Virginia. Rush also operates online casinos in Colorado, Illinois, Indiana, Iowa, New Jersey, and Pennsylvania.
International online gambling platform 888 Holdings (OTC:EIHDF) announced in December that the company would be moving into the Iowa market through a partnership with Iowa gaming license-holder Catfish Bend Casinos. The UK-based company also announced that it would be moving into Indiana and Colorado through similar partnerships with local license-holding companies.
This wave of legalization and regulation could be the biggest opportunity in the history of the online betting industry for rapidly expanding companies like Bragg Gaming Group as they establish themselves in the early days of high-potential new markets.
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