Golden Nugget Online Gaming (GNOG) is set to go public following its $745M (USD) acquisition by Landcadia II. 

Landcadia II has entered into a purchase agreement to acquire GNOG from Tilman J. Fertitta’s Landry’s Incorporated, and intends to list it on the Nasdaq exchange – which will make GNOG only the second publicly traded online casino company in the United States. 

The acquisition is expected to be completed in Q3 2020, at which point acquisition company Landcadia II plans to change its name and Nasdaq trading symbol to GNOG. 

GNOG’s valuation of $745 million is based on 6.1 x GNOG’s estimated 2021 revenue of $122 million, and the deal is expected to involve a mix of cash and equity. Landcadia II will also be taking over $150M of GNOG debt. 

After payment of the purchase price, debt repayment and transaction fees, Landcadia II/GNOG is expected to have a balance sheet of at least $80M, and pro forma equity market capitalisation of around $700M.

GNOG’s current owner, Tilman Fertitta, will continue as CEO and chairman of the company after acquisition, and Thomas Winter will also remain as president. Fertitta Entertainment, Fertitta’s holding company is also co-sponsor of Landcadia II, along with Jefferies Financial Group Inc. 

Discussing the acquisition Co-Chairman of Landcadia II and CEO of Jefferies LLC, Rich Handler, said:

“GNOG is one of the best positioned companies to capitalize on this massive online gaming opportunity in the US. We at Jefferies couldn’t be more thrilled to partner with Tilman and bring this great opportunity to the public markets.”

While Tilman J. Fertitta added:

“Golden Nugget is one of the most time-honored brands in the gaming business today. When customers hear the name Golden Nugget, they know they are dealing with a trusted online gaming business. 

“Thomas and his team have done a remarkable job, are the best in the industry, and with this transaction, will have access to growth capital to allow for the rapid expansion of the business.”   

GNOG has been operating in New Jersey since 2013, and in 2019 generated net income of over $11M. 

AYO.NEWS says:

This deal is certainly a vote of confidence in the potential of the US online gaming markets, and given the current global economic crisis – during which iGaming has performed extremely well – we’re sure there’ll be plenty of appetite from investors when GNOG goes public. 

Staying with the New Jersey online casino sector, last week Ainsworth Game Technology entered an exclusive partnership with Roar Digital, the joint venture between MGM Resorts International and GVC Holdings. 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

All original content featured on this site is © Pentagon Digital Limited, 2020

Specialist virtual games provider Kiron has become the first supplier to provide online virtual content in South Africa.

South Africa-based Kiron’s Jika Sports brand, which offers localised versions of the supplier’s virtual football and horseracing products, was first launched with South African retail operators in September 2019, but will now be available to online players at major brands including Hollywoodbets, Supabets, Betway, and World Sports Betting.

Jika soccer is available in English, Italian, and Spanish league formats, while Jike Racing features Kiron’s market leading suite of racing games, including horse racing, motor racing, jumps, and greyhounds. 

Discussing the news co-CEO of Kiron, Steven Spartinos, said:

“Being the first to go live online in our home country with Jika Sports is a great milestone for us and our team, giving testament to the value proposition presented by our strong games portfolio and localised offering.

“South Africa has a long established and successful track record as a key regulated market internationally and the positive uptake of Jika Sports demonstrates the growing demand for fresh content among both players and operators locally.”

Kiron was also the first virtual supplier to go live in the Spanish online market, launching with R. Franco Group’s online brand Wanabet in November 2019, and just last week became the first to introduce virtuals to the Colombian market, going live with Betplay. 

AYO.NEWS says:

With the real-life sports still severely disrupted by the ongoing COVID-19 pandemic in many regions, and the real prospect of further outbreaks and lockdowns, virtual sports are becoming a necessity for operators, and Kiron seems to be leading the pack. 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

All original content featured on this site is © Pentagon Digital Limited, 2020

888 Holdings has revealed that adjusted earnings before interest, tax, depreciation, and amortisation (AEBITDA) for 2020 will be ahead of previous expectations.

The London-listed company has emerged as one of the strongest performers on the FTSE 250 index, with average daily revenue for the year-to-date 34% higher year-on-year. 

888 attributes the success to an increased level of customer acquisition in the second half of 2019, and its shift towards online gaming – which was significantly accelerated during the COVID-19 crisis over recent months.

Reflecting on the performance Chief Executive of 888 Holdings, Itai Pazner, said:

“We are pleased with 888’s trading during the year-to-date which has resulted in the board now anticipating that adjusted Ebitda for 2020 will be significantly ahead of its prior expectations. This performance builds on 888’s strong customer acquisition during 2019 and our continued focus during recent years on entertaining a greater number of recreational customers.

“888 is well positioned to continue to benefit from a potential long-term shift towards online services that we have seen accelerate across several consumer industries during the COVID-19 pandemic.”

However, the Gibraltar-based operator did sound a note of caution, pointing out that a prolonged period of global economic uncertainty could lead to lower discretionary spending by consumers. 

Staying with 888 Holdings, last week the company announced a global partnership with Betgenius, covering both in-play and pre-match content. 

AYO.NEWS says:

Given the unparalleled damage the COVID-19 crisis has wreaked on most industries, it’s encouraging to see this announcement from 888. It also underlines the wisdom of some of the changes the company made in the run-up to the crisis, which put it in a much better position to weather the storm than some of its rivals. 

Of course, we would have to concur with the warning about a prolonged economic crisis. After all, though online casino, virtual sports, and esports betting is doing very well right now, we should bear in mind that many workers haven’t actually lost their jobs yet due to companies getting emergency government support – especially in Europe. When that support is withdrawn, the true economic picture will emerge…

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

All original content featured on this site is © Pentagon Digital Limited, 2020

Multi-channel supplier of 24/7 betting services, SIS (Sports Information Services), has acquired the full shareholding of 49’s from GVC and William Hill. 

SIS will take ownership of 49’s live draws product and its virtual horseracing brands Portman Park, Sprint Valley, and Steepledowns, plus virtual greyhounds from Brushwood and Millersfield. 

The acquisition has expanded SIS’s product portfolio and fits within its existing 24/7 racing channels that have proved successful with both retail and digital betting operators. 

SIS says it is also developing a range of new numbers and virtual content which will be part of the 49’s brand, and that acquisition complements its progress in launching new products, including its esports competitive gaming product that recently launched with bet365. 

Discussing the acquisition CEO at SIS, Richard Ames, said:

“49’s has a long history of supplying high quality, market-leading content to UK and Irish bookmakers and the product range is much loved by consumers. Over recent years, SIS has successfully extended the brand worldwide and it makes perfect sense to now take the further step of acquiring the business. We have great plans for the brands and will announce shortly a range of new and extended products as part SIS’ numbers product strategy.”

While Chairman of 49’s Limited, Mike Jones, added:

“We’ve worked in partnership with SIS for the last 20 years and they are uniquely positioned to be able to further expand the 49’s brand internationally. We look forward to seeing how they build on the excellent work the team has done over the last few years to position 49’s as a leading numbers product.”

AYO.NEWS says:

Despite the gradual resumption of live sports, it’s clear that many companies have been spooked by the COVID-19 crisis, and the spectre of more waves and lockdowns, and are keen to invest in expanding their virtual and non-live sports offerings. 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

All original content featured on this site is © Pentagon Digital Limited, 2020

Ainsworth Game Technology has entered an exclusive partnership with Roar Digital, covering the launch of a series of online slots in New Jersey. 

The agreement will see 20 Ainsworth games go live with Roar Digital online casino brands BetMGM, Borgata, and Party. Roar Digital, a joint venture between MGM Resorts International and GVC Holdings, will benefit from a period of exclusivity when it comes to launching the various Ainsworth products. 

Commenting on the deal Ainsworth online general manager, Jason Lim, said:

“We are thrilled to be live across ROAR Digital’s network in New Jersey. Ainsworth games have been extremely popular with New Jersey land-based players for several years and we’re excited for online players to have access to our proven and high-performing content.”

While Roar Digital CTO, Kevin Allan, added:

“This was an incredible journey and we are proud that ROAR is providing the hosting solution from our New Jersey infrastructure to enable this great partnership with Ainsworth to come to life. This blueprint can be used for other providers, both in New Jersey and other legalized online gaming states with the US.” 

AYO.NEWS says:

The COVID-19 crisis and its decimation of sports betting has given an added impetus to the online casino vertical in the United States. This week alone we’ve seen DraftKings launch a stand-alone casino app in New Jersey, and arch-rival FanDuel launch a casino app in neighbouring Pennsylvania, while Evolution Gaming has said the North American market is a driving force for its NetEnt takeover bid. 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

All original content featured on this site is © Pentagon Digital Limited, 2020

The Payment Expert track at CasinoBeats Malta Digital is set to provide an in-depth examination of the major payments challenges facing igaming operators, with input from specialists at William Hill, Flutter Entertainment, GVC Holdings, Parimatch, Rank Group and Pinnacle.

Delivered in conjunction with the PaymentExpert.com news portal and sponsored by Neosurf, the content track features eight panel sessions spread over 1 and 2 July, the final two days of the virtual conference and exhibition.

In addition to the content, there will be a Payments Social networking session on 2 July to provide a forum for operators and suppliers to connect, as well as a strong contingent of payments solutions providers showcasing their latest innovations in the interactive exhibition.  

Joe Streeter, News Editor of PaymentExpert.com, said:

“The relationship between operators and payments solutions companies is crucial to the success of the igaming industry, so we’re delighted to bring together key players from both sides to connect and engage in for some important discussions at CasinoBeats Malta Digital.

“We’ve compiled an agenda that covers the key payments-related issues that the gaming sector faces as regulations change and technology continues to evolve at pace. The speaker line-up is packed with experts ready to share their insights and ideas, so all delegates involved in payments and compliance will learn something valuable.”  

Gambling Payments & Self Governance

The track opens with Gambling Payments & Self Governance, which will look at the fallout from the UK Gambling Commission’s ban on credit card gambling and what can be done to prevent the unregulated market enticing the vulnerable players the ruling was intended to protect. The panel includes Paul Buck (CEO, EPIC Risk Management), Paloma Gonzalez Mascaraque (Head of Payments, BetConstruct) and Ievgeniia Derbal (Head of Legal, Parimatch), with David Clifton (Director, Clifton Davies Consultancy) in the moderator’s chair. 

It continues with an in-depth examination of how operators can cope with the enhanced regulatory burden they now face during the W2 Global: Harmony on Compliance session.

Speakers include Steven Armstrong (Group Director of AML, William Hill) and Warren Russell (CEO, W2 Global). 

Instant Play & Payments

The Instant Play & Payments session, sponsored by Trustly, will look at ways operators can offer a quick, user-friendly sign-up process while also complying with KYC regulations. Matthew Vassallo (COO, Hero Gaming), Beyza Orazova (Head of Sales, iGaming, Dimoco), Ana Stef (Group Head of Payments, NetBet) and John Mallia (Team Manager – Gaming Accounts, Trustly) feature on a panel moderated by Rahul Das (Head of Payments, LiveScore / VirginBet). 

Anticipating the Next Wave of M&A

The final Payment Expert session of 1 July is KPMG: Europe – Anticipating the Next Wave of M&A, which will provide a timely evaluation of whether the gaming industry is entering a new phase of consolidation. Hermione Arciola (Partner, KPMG Malta) will moderate a panel that includes Ben Robinson (Co-Founder, RB Capital Advisors), Grant Johnson (CEO, Esports Entertainment Group), Robert Andersson (CEO, Net Gaming Europe AB) and Cormac O’Brien (Chief Financial Officer, Flutter Malta). 

Crypto: The Next Chapter

Crypto: The Next Chapter will get things underway on 2 July, as a group of legal experts assess the Malta Gaming Authority’s efforts to develop a framework that accepts digital currencies and share their insights on whether crypto really has the potential to become a mainstream option for operators and players. The panel includes Matthew Dickson (CEO, BitBoss), Ian Gauci (Managing Partner, GTG Advocates) and Brandon Debattista (Legal Counsel, MGA), with Genia Gurevitz (Head of Banking, Compliance & Payments Services, Tal Ron, Drihem & Co) acting as moderator. 

Cashless: The New Normal

Attention then tCashless: The New Normalurns to the growing pressure on betting shops and brick-and-mortar casinos to go digital in the wake of the COVID-19 pandemic, and what steps operators need to take to remain compliant and keep customers engaged as they introduce new payments technology. Joe Streeter will chair the Cashless: The New Normal panel, which features Martin Lycka (Director of Regulatory Affairs, GVC Holdings), Dan Waugh (Partner, Regulus Partners) and David Williams (Director Of Public Affairs, Rank Group). 

Future of PSPs

It is followed by the Future of PSPs, which will investigate how the role of payment services providers will develop as the gaming industry continues to evolve. The panel includes Olga Golikova (Head of Billing, Parimatch), Isabelle Delisle (Global Head of Payment Solutions, Pinnacle) and Liutauras Varanavičius (Head of Business Development, ConnectPay), with Andrea McGeachin (CCO, Neosurf) on moderating duties. 

The 6AMLD Challenge

The final panel of the track, which takes place directly before the Payments Social networking event, is The 6AMLD Challenge. Thees Buschmann (Head of Compliance, Red Rhino), Philip Bugeja (AML Consultant) and Matthias Schüller (MD, Run It Once Poker) will look at what the directive means for gambling operators, with James Myles (Analyst, Eta Delta) asking the questions. 

Working in Malta, the Future of Gaming, Technology & Innovation, and Regulation & Compliance

The CasinoBeats Malta Digital agenda also includes tracks about Working in Malta, the Future of Gaming, Technology & Innovation, and Regulation & Compliance. 

Away from the conference rooms, delegates will have multiple opportunities to make new contacts. In addition to the schedule of themed networking sessions, attendees can take part in workshops with sector experts, join in group discussions in the virtual networking bar or use the event platform’s chat facility for one-to-one conversations. 

There is also a 40-booth interactive exhibition showcasing the latest products from major suppliers, the SlotBeats Lounge where new offerings from leading games studios will be on display, and a programme of product presentations and exhibitor competitions.

Find full details of CasinoBeats Malta Digital, including information about how to register and the discounts available on company group passes, at the event’s official website.