NEW YORK, Feb. 3, 2021
FinancialBuzz.com News Commentary
NEW YORK, Feb. 3, 2021 /PRNewswire/ -- 2020 was an important year for the online betting industry. The pandemic, and numerous social distancing measures that were implemented to combat it, have created just the right environment for various internet-based businesses, including sports betting and esports, to take off. Over the course of the last year, sports betting was legalized in key U.S. states, as well as several European markets. This is the direct response to stronger consumer adoption of online sports betting and a growing demand for at-home entertainment. As a result, the online sports betting industry now has a broader reach and a larger user base in 2021 than ever before, all as major league sports are in the midst of action. Major legislative breakthroughs in key markets are also expected to continue into 2021. Bragg Gaming Group Inc. (OTC: BRGGF) (TSX-V: BRAG), Penn National Gaming (NASDAQ: PENN), Score Media and Gaming Inc. (OTC: TSCRF), Caesars Entertainment, Inc. (NASDAQ: CZR), MGM Resorts International (NYSE: MGM).
According to a report by the New York Times, Marco Blume, trading director for the sports book Pinnacle, remembers when betting on competitive video games, known as e-sports, was a exotic concept. "When we started with e-sports in 2010, we got maybe USD 100 in wagers in a week and got excited… We would watch the screen and cheer as each individual bet came in. When I first pitched e-sports wagering to my board, they either said, 'What are you talking about?' or they laughed," Blume explained. "E-sports is king now… Since March, e-sports has been our No. 1 category globally, and the overall majority of total wagering for us. Every significant bookmaker now offers e-sports. If you didn't before, you certainly do now."
Bragg Gaming Group Inc. (OTCQX: BRGGF) (TSX-V: BRAG) commented earlier this week, "on the move by Google to allow the download of online gaming apps by in 15 more countries, including the U.S., starting March 1, 2021.
'Google's support of the online gaming industry is an exciting development for players everywhere,' said Adam Arviv, CEO of Bragg Gaming. 'Access to gaming is opening up around the world and Google is just one of the many organizations and jurisdictions that are evolving to support increased access. This will also assist in the gaming industry's goal of ensuring a safe, regulated market for today's players.'
Google's policy update will expand the access to online gaming apps to Australia, Belgium, Canada, Colombia, Denmark, Finland, Germany, Japan, Mexico, New Zealand, Norway, Romania, Spain, Sweden and the United States. The apps were already available in the U.K, Ireland, France and Brazil. Online casino games, lotteries, sports betting and daily fantasy sports are all included within the new policy.
About Bragg Gaming Group: Bragg Gaming Group (TSX:BRAG, OTC: BRGGF)is a next generation gaming group with cutting-edge technology, leading brands and world-class management expertise, developing into a global gaming force. Formed by a team of gaming industry experts, Bragg's main portfolio asset is ORYX Gaming, an innovative business-to-business i-gaming platform, product aggregator, casino content, managed sportsbook and managed services provider. Through this brand and targeted acquisitions, Bragg is focused on becoming a leader within the evolving global gaming industry. Learn more at https://www.bragg.games."
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Penn National Gaming (NASDAQ: PENN) announced last month that the Michigan Gaming Control Board ("MGCB") has approved the Company's applications to offer online sports wagering and iCasino products in Michigan. Penn National intends to officially launch its Barstool Sportsbook mobile app on iOS and android, as well as desktop at 12:00pm EST on Friday, January 22nd, 2021 and its iCasino products will follow shortly thereafter, subject to final regulatory approvals. This follows the opening of the Company's retail Barstool Sportsbook at Greektown Casino Hotel in downtown Detroit on December 23rd, 2020. "This is an exciting time to be launching our online Barstool Sportsbook in Michigan," said Jay Snowden, President and CEO of Penn National. "We have been incredibly pleased with the success of the mo
'bile app since launching in Pennsylvania in September. Our customers have thoroughly enjoyed engaging with Dave Portnoy, Dan 'Big Cat' Katz and other Barstool fan favorites, and we expect more of the same in Michigan. As the only gaming operator with a fully integrated sports media and entertainment partner, Penn can provide our customers the opportunity to interact with Barstool personalities online and also in-person at our new Barstool Sportsbook at Greektown."
Score Media and Gaming Inc. (OTC: TSCRF) reported back in December named the exclusive English language broadcast partner for the League of Legends' Demacia Championship, a marquee annual event featuring 24 of China's top esports teams. Live event coverage will run from December 20-27 and be streamed across theScore esports' YouTube and Twitch channels. The Demacia Championship will be theScore esports' first-ever live event broadcast, with production originating from their esports headquarters in Toronto. "We're thrilled that TJ Sports identified theScore as the ideal partner to produce and distribute the Demacia Championship's English language broadcast to fans worldwide," said Aubrey Levy, Vice President of Content and Marketing, theScore. "We've found fantastic audience reception in our coverage of the Chinese League of Legends scene, and can't wait to leverage our video production expertise and wide global reach to deliver an entertaining live event viewing experience for League fans."
Caesars Entertainment, Inc. (NASDAQ: CZR) announced earlier in September that it had entered into a multi-year agreement with ESPN. The new deal includes link integrations from ESPN's digital platforms to sportsbooks from Caesars Entertainment's sports betting partner, William Hill. William Hill Sports Book's odds and markets connect directly to their sports betting apps in legalized states. The deal comes shortly after William Hill became the exclusive sports betting operator for Caesars Entertainment, following the merger with Eldorado Resorts. Link integrations to William Hill's sports betting apps, geo-targeted to legalized sports betting states, will appear on ESPN.com web and mobile web and the ESPN Fantasy app. As part of the new agreement, Caesars Sportsbook by William Hill will also become a sponsor of ESPN's Fantasy products, deepening an existing relationship as ESPN's exclusive odds provider.
MGM Resorts International (NYSE: MGM) through BetMGM, born out of a partnership between MGM Resorts International (NYSE: MGM) and GVC Holdings Plc, and has exclusive access to all of MGM's U.S. land-based and online sports betting, reported last week the launch of BetMGM Casino in Pennsylvania, bringing the digital gaming company's exclusive portfolio of online slots and table games to players in the Keystone State. "We're thrilled to bring BetMGM's online casino offering to Pennsylvania," said BetMGM CEO Adam Greenblatt. "With more than 140 different games, including our own in-house progressive jackpot network, we're delivering the widest range of content currently available in the state. Alongside MGM Resorts and its M life Rewards program, BetMGM will provide players with a truly unique entertainment experience."
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