NEW YORK, May 14, 2021 /PRNewswire/ -- The legalization of sports betting across the United States continues to spread from state to state, slowly expanding and creating a more consistent legal infrastructure. This week, Washington State decided to move forward with plans to allow sports betting. The State gambling officials and the Kalispel Tribe of Indians have reached an agreement that would allow sports gambling to occur at the Northern Quest Resort. Sports betting at tribal casinos became an option after a 2018 decision by the U.S. Supreme Court that struck down a 1992 federal law that banned commercial sports betting in most states, Considine said. Still, the legal intricacies of gambling are complicated, and while the framework of the deals has been reached, all the tribal compacts must go through a series of state and federal approvals before sports wagering can officially start. FansUnite Entertainment Inc. (OTC: FUNFF) (CSE: FANS), DraftKings Inc. (NASDAQ: DKNG), GAN Limited (NASDAQ: GAN), Boyd Gaming Corporation (NYSE: BYD), Genius Sports Limited (NYSE: GENI)
As the legal infrastructure becomes more and more friendly towards sports betting across the country, announcements regarding investments in this sector have accelerated. For example, earlier in October, WynnBET, the digital gaming division of Wynn Resorts Ltd. that is responsible for Wynn's mobile sportsbook and casino app, announced a multi-year national sports betting partnership. As an Authorized Gaming Operator of NASCAR, WynnBET will collaborate with NASCAR to create and promote engaging sports betting experiences for racing fans across the United States.
FansUnite Entertainment Inc. (OTCQB: FUNFF) (CSE: FANS) announced breaking news earlier this week that it, "has entered a brand partnership with Cash Live Inc. ("Cash Live") to launch FansUnite branded live games on the Cash Live mobile app. FansUnite has a minority interest in Cash Live, a tech start-up that offers a new popular poker and social casino game show platform.
Cash Live is a free-to-play gaming app that is designed for mobile devices and features daily live-streamed poker game shows paying out real cash to its winners. After successfully completing the SnapChat Accelerator program, Cash Live has been launched on iOS devices in Canada, the United States and Mexico with live games 7 days a week, twice a day at 3:00 pm and 6:00 pm PT. A launch on Android is underway and is expected to be completed in 30 days.
Top-ranked professional poker players such as Phil Hellmuth, Antonio Esfandiari, Jeff Gross, Jonathan Duhamel, Brian Rast, Kevin Martin and Joey Ingram, have invested in Cash Live. In addition, the mobile app has well-known investors within the digital entertainment and technology sector such as the founders of Paradise Poker, the former CEO of Tinder and OkCupid, the senior VP of Product at Reddit, Lightspeed Venture Partners, CEO of Cheddar and most notably, Snap Inc.
The first branded FansUnite game will be available on Wednesday, May 12th at 6:00 pm PT and will play down to a winner in under 20 minutes. The Cash Live mobile app can be downloaded in the App Store: https://cashlivepoker.page.link/FansUnite
'Cash Live is a promising tech start-up that has built an impressive brand and technology platform,' said Scott Burton, CEO of FansUnite. 'In furthering our strategy to be more actively involved in the rapid growth of the social betting industry, we are pleased to announce the partnership with Cash Live. Moving forward, we hope to see this mobile app emerge as a dominant player in the online poker game industry.'"
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DraftKings Inc. (NASDAQ: DKNG) reported earlier last month that it has been named an Official Sports Betting Partner of the League and extend its current relationship as the exclusive Official Daily Fantasy Partner. "The way fans consume sports years from now will look drastically different, and it will be due in part to forward-thinking collaborations like our expanded relationship with the NFL today as an Official Sports Betting Partner and the exclusive Daily Fantasy Sports Partner," said Jason Robins, CEO, chairman and co-founder, DraftKings. "We share the same vision as the NFL on fan engagement and believe this agreement will lead to new innovations that will ultimately enhance both the product on the field and on the screen."
GAN Limited (NASDAQ: GAN) announced last month a successful multi-state transition onto its platform for Churchill Downs Incorporated's TwinSpires branded sports betting and iGaming operations in Pennsylvania and sports betting operations in Indiana. Additionally, GAN launched inaugural mobile sports betting operations for TwinSpires in Colorado, which, when coupled with the previously launched solutions in Michigan and Tennessee, brings the GAN-powered TwinSpires brand to five total states. This provides for TwinSpires to leverage its strong brand across horse racing and sports customers in advance of the upcoming 147th running of the Kentucky Derby on May 1st. Following the migration onto GAN's technology platform the company is pleased to support TwinSpires Sportsbook in Michigan, Colorado, Tennessee, Pennsylvania and Indiana with its leading player account management platform, in addition to powering TwinSpires' Casino offering in Pennsylvania and Michigan. Both online casino and sports customers will be able to enjoy an uninterrupted playing experience with any product, in any state, on a single app leveraging GAN's proprietary technology operating framework.
Boyd Gaming Corporation (NYSE: BYD) FanDuel Group reported earlier this year that plans to launch Stardust-branded online casinos in New Jersey and Pennsylvania, marking the iconic gaming brand's return to real-money gaming. FanDuel and Boyd Gaming anticipate launching the Stardust casinos in April, pending final regulatory approval from each state. FanDuel plans to rebrand its existing Betfair Casino in New Jersey under Boyd Gaming's Stardust brand, while launching a Stardust online casino in Pennsylvania. A single Stardust Casino app will be available for iOS and Android in both New Jersey and Pennsylvania.
Genius Sports Limited (NYSE: GENI) announced recently that hat it has entered into a definitive agreement to acquire Second Spectrum, a leading provider of cutting-edge data tracking and visualization solutions. This acquisition combines two of the world's most innovative sports data and technology companies to create a complete end-to-end offering for the sports, betting and media ecosystem. Second Spectrum was founded in 2013 and has become a world-leading and fully integrated sports AI provider, offering tracking, analytics and data visualization services. Second Spectrum's innovative technology allows clients to automatically index action on the court, pitch or field within seconds. With the world's most advanced player tracking technology, teams, leagues, media and data partners are able to gain real-time insights; driving decision making and greater levels of engagement.
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