Connect with us

Esports & Video Games

IGT TO OFFLOAD ITALIAN B2C GAMING BUSINESS FOR €950M CASH

Sports, Fantasy & Virtuals

IGT TO OFFLOAD ITALIAN B2C GAMING BUSINESS FOR €950M CASH

Published

on





IGT has announced the sale of its Italian B2C sports betting, gaming machine, and digital gaming business for €950M. 

UK-based International Game Technology PLC (IGT) is offloading its interest in Lottomatica Scommesse S.r.l. and Lottomatica Videolot Rete S.p.A. to Gamenet Group S.p.A., a subsidiary of funds managed by an affiliate of Apollo Global Management, Inc.

The cash deal is valued at €950M, and will see €725M payable at closing, €100M payable in December 2021, and €125M payable in September 2022. 

IGT’s Board of Directors has unanimously approved the transaction, which remains subject to customary closing conditions and regulatory approvals. The transaction is expected to close in the first half of 2021. 

Discussing the news IGT CEO, Marco Sala, said:

“The transaction enables IGT to monetize its leadership positions in the Italian B2C gaming machine, sports betting, and digital spaces at an attractive multiple to comparable Italian transactions, providing us with enhanced financial flexibility.

“Aligning with our recent reorganization, the favourable rebalancing of our business and geographic mix reframes and simplifies our priorities while improving the company’s future profit margin, cash flow generation, and debt profile.”

 

Proceeds from the sale will largely be used to pay down IGT’s debt, which stood at some €7.24B on 30 September 2020.

 

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

With several years experience in the igaming and sports betting industries in Malta under his belt, over the last few years Oliver has developed a passion for blockchain and an interest in esports. He’s also a published novelist and has a background in art and photography.


Sports, Fantasy & Virtuals

BETCONSTRUCT BOOSTS VIRTUAL SPORTS OFFERING WITH GLOBAL BET’S PRO SERIES

Published

on


Image credit: Global Bet

Global Bet’s new Pro Series of virtual sports games are to be integrated into BetConstruct’s platform. 

The partnership marks a significant expansion for both BetConstruct and Global Bet in the rapidly growing international gaming market. 

Discussing the news CEO of Global Bet, Daniel Grabher, said:

“BetConstruct is already integrated with some of our existing customers using our product as a stand-alone solution. We are confident that the integration will be a great step forward enabling their players a one stop shop experience while maximizing revenues for the operator. We are happy to be partnering with BetConstruct and we look forward to going online within the next couple of days.”

 

While BetConstruct’s Regional Director in Malta, Kristina Hambardzumyan, added:

“We are thrilled to seal a partnership with Global Bet to provide their state-of-the-art virtual sports solutions to our customers. Their level of visual quality and gameplay is unrivalled in the gaming industry.”

 

Global Bet’s virtual sports range includes football, basketball, tennis, greyhounds, horse racing, camel racing, and supercars. 

Staying with BetConstruct, in October the company secured a UK license for its virtual sports products. 

 

AYO.NEWS says:

There’s no doubting that the COVID-19 crisis massively boosted the profile and popularity of virtual sports betting in 2020, but now the question is can it maintain momentum in the face of a full real-life sporting calendar?

However, operators should also keep in mind that, despite the promise offered by the new COVID-19 vaccines, they may not be a ‘silver bullet’ solution, and with the virus still mutating into new strains, there’s always the danger of a relapse to full lockdowns and more disruption to sports. So, it’s probably wise to keep investing in alternatives like virtual sports. 

 

 

‘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.

Continue Reading

Sports, Fantasy & Virtuals

BBIN NAMED OFFICIAL IGAMING PARTNER OF ATLÉTICO DE MADRID IN ASIA

Published

on


Image credit: BBIN

BBIN has become the Official iGaming Supplier Partner of top-tier Spanish football club Atlético de Madrid in Asia.

With both BBIN and Atlético de Madrid using red and white for their brand colours, the partnership is well matched, and is said to symbolise their passion and spirit in building a bridge between Europe and Asia, and fighting side-by-side for the future. 

In a statement BBIN said they are confident the partnership with Atletico de Madrid will be a great success, and also wished the team outstanding performances in the future La Liga and major international competitions.

 

AYO.NEWS says:

With gambling sponsorships now banned in their home market, foreign deals like this are going to be more important than ever for the financial viability of Spanish football clubs and leagues. Indeed, in September, Asia-facing operator M88 entered a major 4-year deal with La Liga. 

 

‘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.

Continue Reading

Sports, Fantasy & Virtuals

FORMER INTERWETTEN EXECUTIVE BEIER JOINS SPORTS MARKETING AGENCY E|MOTION

Published

on

Former speaker of the board at Interwetten and executive at Sportradar, Dominik Beier, has joined sports marketing, events and consulting agency e|motion.

During Beier’s almost two years with Interwetten, the betting operator saw revenue grow by 50% and expanded into several new markets. Between 2013 and 2019, he was with Sportradar, where he led the sales department, oversaw budget planning, and evaluated new projects. 

Welcoming 29-year-old Beier to the team at e|motion, CEO and founder, Herwig Straka, described him as a “real team player and a very entrepreneurial manager.”

Commenting on his new role, Beier said:

“I am very much looking forward to the new challenge and exciting projects at e|motion. I have a long business relationship with Herwig Straka which was always on a very high level of respect and appreciation.

“It is great to see what e|motion group has developed over the past two years, especially within tennis. My aim is to further build on that great basis, strengthen the core business but also develop new business areas within digitalisation or consulting.”

 

E|motion was founded in Austria in 1991, when it organised the first ATP Challenger tournament in Graz. In 2001 it launched the ATP Champions Tour, and in 2003 introduced the Lipizzan horse gala in Styria, and also began organising international golf tournaments with the BA-CA Golf Open. In the following years, the company also moved into mountain biking, and expanded into Germany. 

In 2019, E|motion led the way in restructuring the ATP tournament calendar between the Grand Slam tournaments in Paris and Wimbledon. From 2020, the company organised the WTA tournament in Berlin, and ATP in Mallorca. 

 

 

 

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

 

Continue Reading

Sports, Fantasy & Virtuals

INDIA’S PREMIER HANDBALL LEAGUE PARTNERS WITH FANTASY PLATFORM DREAM11

Published

on


Image credit: Premier Handball League

India’s Premier Handball League (PHL) has named Dream11 as its fantasy gaming partner, and FanCode as official OTT partner.

The Indian sports industry has not seen active sports for almost seven months due to the ongoing COVID-19 pandemic, but the PHL is looking forward to launching its inaugural season later this month. 

Season 1 of the PHL is set to play at the Sawai Mansingh Indoor Stadium in Jaipur from 24 December, with the grand final scheduled for 10 January. Six teams, Uttar Pradesh, Punjab, West Bengal, Telangana, Maharashtra, and Rajasthan, will be competing for the title. 

Though handball is played in schools and colleges across India, the sport has yet to establish a sizable fan base. PHL is determined to change this, and is hoping its partnership with Dream11 and their OTT platform, FanCode, will help encourage the growth of the sport. 

Discussing plans League CEO, Mrinalini Sharma, said:

“Dream 11 is now an aspirational name in the world of sports and we are thrilled to have them associated with us as our fantasy gaming partner. 

“Dream 11 has been a visionary in the world of sports and has successfully infiltrated the Indian household, bringing families and sports enthusiasts alike together. With them as our partners and their OTT platform FanCode as our official OTT partner, we at the Premier Handball League believe that the popularity of handball is secure in times to come.”

 

PHL India Sports Private Limited is the official license holder of the league, which under the aegis of the Handball Federation of India (HFI) and in association with the International Handball Federation (IHF) and Asian Handball Federation, promises to develop and take this Olympic sports discipline to the next level, ensuring growth and success for the Indian athletes at the global stage.

Handball is currently part of the priority sports listed by the Ministry of Youth Affairs & Sports under the Target Olympic Podium Scheme in India. With the Indian team currently ranked 32 in the world, PHL promises to provide a much-needed foundation as the game aims to become an Olympic medal prospect.

 

AYO.NEWS says:

By partnering with a popular fantasy sports platform like Dream11 from the very beginning, PHL is positioning itself to take full advantage of current trends to catalyse the growth of handball in India. If the league can leverage engagement technology successfully, we might well see handball become a big thing in the country in a comparatively short space of time. 

Last year, Mumbai-based Dream11 became the first Indian gaming ‘unicorn’ – valued at over $1 billion USD. In August, the company also became the title sponsor of the Indian Premier League, after Chinese mobile phone maker Vivo pulled out of its agreement. 

 

 

‘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.

Continue Reading

Esports & Video Games

SOCIAL EXPERIENCES DEVELOPER GREENPARK RAISES $14M & PARTNERS WITH NBA

Published

on


Image credit: GreenPark Sports

Mobile games and social experiences developer GreenPark Sports has raised $14M USD in a Series A financing round and partnered with the NBA. 

The round was led by Galaxy Interactive, and also attracted participation from ADvantage, John Burbank (Passport Capital), Steve Chen (co-founder of YouTube), Courtney Reum (M13), Sinclair Broadcasting, and existing backers Sapphire Sport and SignalFire. 

According to the Los Angeles-based publisher and developer, the new capital is earmarked for development, expansion across leagues, and worldwide publishing. 

Additionally, the company has signed a multi-year agreement with the National Basketball Association (NBA), covering a free-to-play mobile game designed to be played over the top of sporting events. 

GreenPark says the game will allow fans to support their favourite NBA team and compete against their biggest rivals in a virtual NBA Land – a “metaverse for sports fans.” It will feature in-game challenges, and users will be able to kit out their avatar with authentic NBA gear, including jerseys and hats. 

Commenting on the project NBA Associate Vice President, Global Partnerships, Adrienne O’Keeffe, said:

“We are always looking for innovative and engaging social gaming experiences to bring to our fans. We believe GreenPark has created something truly unique for NBA fans around the world and are excited to be a part of the platform at launch.”

 

While Vice President of Business Operations at GreenPark, Tony Grillo, added:

“It’s a huge honor to have an organization like the NBA ‘buy-in’ to our vision for the Future of Fandom. We’re looking forward to collaborating with them on future initiatives and are excited to see how the GreenPark community responds to basketball fandom.”

 

A similar agreement was previously signed with the North American League of Legends Championship Series (LCS). The new game is slated to launch for both the NBA and LCS sometime early next year. 

 

AYO.NEWS says:

These days everything is about fan engagement, and GreenPark’s take on mobile game experiences looks refreshingly new, so it will be interesting to see just how attractive these games are when they are launched early next year. One things for sure, the company isn’t going to be short on cash for a while, and can tap some impressive expertise.

 

‘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.

Continue Reading

Sports, Fantasy & Virtuals

SOFTSWISS EXPANDS OFFERING WITH SPORTSBOOK PLATFORM

Published

on


Image credit: SoftSwiss

SoftSwiss has extended its product portfolio with the launch of a B2B Sportsbook solution.

The new platform is an all-in-one solution for managing sports betting operations, and includes risk management, fraud prevention, and customer support. The company says the platform stands out as extremely easy-to-use, fast-performing, and visually appealing. 

More than 60 sports, including esports, and over 1200 unique markets are covered, along with additional bonus schemes like Cashout, Bet Builder, System, and Maxbet. The main odds feeds are provided by Betradar

The new solution can also be easily plugged into the SoftSwiss Online Casino Platform, and also provides a “seamless wallet” feature. 

Commenting on the new platform Founder of SoftSwiss, Ivan Montik, said:

“We are extremely excited to officially announce the launch of our brand-new Sportsbook Platform! Our new top-notch betting product combines in itself both our 10+ years of expertise in the iGaming market, as well as the hard work of a great team of well-versed professionals. 

“With our new product we want to provide our clients with a sustainable, high-quality solution that has a positive impact on their business development. I’m sure SoftSwiss Sportsbook is bound to become one of the strongest on the market and will surely be a growth driver for our clients.”

 

 

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

 

Continue Reading



Trending


Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *