New Technologies Expand the Possibilities of Online Gambling
- FinancialBuzz.com News Commentary
12 Mar, 2021, 09:00 ET
NEW YORK, March 12, 2021 /PRNewswire/ -- Two major segments of the online gambling industry are online gaming (i-gaming) and sports betting. Online gaming, in particular, has proven to be a pandemic proof segment. An increasing number of online events with large prize pools is now also expected to create new opportunities for players and betters alike. As for sports betting, the segment has majorly benefited from a continuously improving and friendlier legal infrastructure. For example, sports fans in Arizona could soon have the ability to place bets inside sports venues while the action unfolds. For others, daily online fantasy sports platforms like Draft Kings and FanDuel might soon be operating legally in their state. Bragg Gaming Group Inc. (OTC: BRGGF) (TSX-V: BRAG), Esports Entertainment Group, Inc. (NASDAQ: GMBL), Roundhill Sports Betting & iGaming ETF (NYSE: BETZ), Bally's Corporation (NYSE: BALY), Scientific Games Corporation (NASDAQ: SGMS)
The shift to a more favorable attitude towards online gambling services is visible across the board. According to data published AGC, nearly 7 in 10 (69%) Americans say that gaming provides a positive benefit to the U.S. economy and 63% agree that the industry provides high-quality jobs. The most significant boost to the sports betting segment however, is attributed to the usage of smartphones, which allow bettors to bet at anytime and anywhere. In addition, innovative technologies such as Blockchain, Internet of Things (IoT) and VR are changing the intricacies in many fields, including gambling in an online casino.
Bragg Gaming Group Inc. (OTCQX: BRGGF) (TSX-V: BRAG) announced earlier this week that, "wholly-owned subsidiary ORYX Gaming has signed a licensing agreement with Premier Gaming to provide both its library of games and its world-class player engagement platform.
Premier Gaming operates multiple online gambling brands, including Pronto Casino, Slothino, Premier Live Casino and Pronto Live Casino. Active in jurisdictions globally, including Sweden, Finland and Germany, Premier addresses a multi-billion market. Premier provides players with a first-class online gaming experience through its secure, user friendly, trustworthy sites. The revenue sharing agreement will allow both companies to generate potentially new high-margin revenue with Bragg's suite of industry leading games and platform.
'Bragg's rapid growth trajectory is paving the way for us to become one of the largest online gaming platforms and content providers in the market,' said Adam Arviv, Interim CEO of Bragg Gaming. 'A key differentiator between Bragg Gaming and competitors is that we have both the delivery platform and our own proprietary content. Licensing agreements like the one with Premier are further evidence of our world-class platform and will solidify Bragg Gaming as a leader in the online gambling industry.'
Under the licensing agreement, Premier Gaming has access to an extensive library of games from ORYX's exclusive RGS providers, including GAMOMAT, Kalamba Games, Givme Games, Golden Hero, CandleBets, Peter & Sons and Arcadem.
Premier will also employ ORYX's player engagement platform, featuring tools that have been proven to increase engagement and prolong player sessions, including real-time leaderboards, tournaments, achievements and jackpots. The combination of unique and local content and ORYX engagement tools have proven to significantly increase player retention and player values.
Content from premium third-party suppliers, including Greentube, Pragmatic Play and iSoftBet, will also be added to Premier Gaming's online casinos via Bragg's ORYX Hub.
'Premier Gaming offers a number of fast-growing brands with a vast customer base. We are excited to have added our premium content to their casino lobbies,' said Matevž Mazij, Managing Director of ORYX Gaming. 'Our games portfolio includes the best titles in the industry with wide player appeal. The licensing agreement with Premier Gaming strengthens our brand and significantly extends our market reach.'
ORYX 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. ORYX has now secured licensing deals in the Dutch, Spanish, Swiss and German markets.
'We partnered with Bragg Gaming because of their world-class gaming content and their state-of-the-art player engagement platform. We are already seeing promising interest from our quality-loving player base,' said Michael Deuringer, Marketing Manager at Premier Gaming."
Esports Entertainment Group, Inc. (NASDAQ: GMBL) reported last month that it has signed a multi-year partnership with the Baltimore Ravens to be the NFL franchise's esports tournament provider. As part of the multi-year agreement, the Company will operate bi-annual esports tournaments for the Ravens utilizing its Esports Gaming League ("EGL") platform. "Our esports tournament platform continues to gain strong traction among top-tier professional sports franchises," said Grant Johnson, CEO of Esports Entertainment Group. "We are delighted to add the Ravens as our latest partner. Our robust tournament platform will help the Ravens strengthen connections with their fans, while providing new avenues for engagement."
Roundhill Sports Betting & iGaming ETF (NYSE: BETZ) is designed to offer investors exposure to sports betting and iGaming industries by providing investment results that closely correspond, before fees and expenses, to the performance of the Roundhill Sports Betting & iGaming Index. The Roundhill Sports Betting & iGaming Index is the first index globally designed to track the performance of the sports betting and iGaming industry. The Index consists of a tiered weight portfolio of globally-listed companies who are actively involved in the sports betting & iGaming industry.
Bally's Corporation (NYSE: BALY) reported earlier this year that it has entered into a definitive agreement to acquire Monkey Knife Fight, the award-winning, fastest-growing gaming platform and third-largest daily fantasy sports ("DFS") operator in North America. The all-stock transaction makes Bally's just the third sports betting company in the U.S. to have a fantasy sports segment. In 2020, MKF, which offers its loyal users a dynamic and creative slate of daily sports and e-sports contests, was ranked by SponsorUnited as the sixth most-searched and tenth fastest-growing brand in sports and entertainment. "With this acquisition, we are pleased to enter into the high-growth DFS market. Monkey Knife Fight is a unique asset that we look forward to incorporating into Bally's constantly growing omnichannel portfolio of land-based casinos and iGaming platforms," said George Papanier, President and Chief Executive Officer of Bally's Corporation. "As with all of the properties and services that fall under the iconic Bally's brand, we are committed to providing a best-in-class DFS platform to sports fans around the country."
Scientific Games Corporation (NASDAQ: SGMS) and International Game Technology PLC, announced on March 1st, that they have signed a cross-licensing agreement for patents related to cashless slot gaming technologies. Under the agreement, Scientific Games and IGT will be able to offer patented cashless gaming technologies from the companies' combined portfolios of casino management systems solutions to the U.S. gaming industry. Financial terms of the agreement have not been disclosed. "This cross-licensing agreement provides casino operators access to the gaming industry's most compelling portfolio of cashless gaming technologies. We have made significant R&D investments over many years to develop this comprehensive suite of intellectual property in the cashless space. It makes revolutionary improvements to the player experience and represents the greatest advancement in cashless payments since the introduction of Ticket-In, Ticket-Out (TITO)," said Renato Ascoli, IGT CEO Global Gaming. "Cashless gaming is here to stay, and this strong portfolio of cashless IP can help casino operators ensure the safety of players by reducing cash handling and points of contact with slot games, while considerably improving casino operating efficiencies."
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