US-based sports and fantasy betting operator DraftKings has reported 98% year-on-year revenue growth for Q3 2020. 

Taking into account DraftKings’ merger with SBTech in April, revenue increased 42% on a pro forma basis. DraftKings generated $133M USD during Q3, and saw average monthly unique players rocket 64% to 1 million, thanks in large part to the unprecedented occurrence of all of the big four US sports leagues (NFL, NBA, MLB, and NHL) taking place in the same quarter. 

DraftKings’ GAAP sales and marketing expenses during the quarter rose to $203M, and within a month of the quarter closing, the operator had expanded its mobile sports betting offering to ten states. 

Reflecting on the quarter DraftKings CEO, Jason Robins, said:

“The resumption of major sports such as the NBA, MLB and the NHL in the third quarter, as well as the start of the NFL season, generated tremendous customer engagement.

“Our product offerings and scalable platform provide a distinctive and personalised experience for customers across the ten states where we operate mobile sports betting today, and we look forward to entering additional jurisdictions at the earliest opportunity.”

The impressive results for the quarter have led DraftKings to raise its 2020 fiscal year revenue guidance from $500M – $540M to $540M – $560M on a pro forma basis, while full-year revenue guidance for 2021 has been slated as between $750M and $850M. 

Staying with DraftKings, last week its new VC fund, Drive by DraftKings, appointed Mereditch McPherron as CEO and managing partner, and made its first esports investment. 

AYO.NEWS says:

The fact that we saw action from all four of the big US leagues during the third quarter was always going to give the big US sports betting operators a boost, but the company’s merger with SBTech, which turned it into a fully integrated betting and gaming operation, has obviously positioned it well to take advantage of the massive growth in gaming.

‘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. 

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Pinnacle has partnered with Triggy AB to launch a new branded live score app to boost  acquisition and retention.

The Pinnacle Live Soccer Scores app will allow customers to follow games and teams, and get personalised push notifications, while also setting alerts for odds, times, and goals. 

Discussing the new app co-founder of Triggy AB, Björn Nilsson, said:

“The release of ‘Pinnacle Live Soccer Scores’ is a major achievement for Triggy! It is a testament to that we are an interesting partner for forward thinking sports betting operators that want to own the full In-Play betting experience.

“We are now busy finalising development of betting oriented live score products for the US market with focus on American Football and Basketball.”

While CEO at Pinnacle, Paris Smith, added:

“We’re very excited to provide our customers with a new way to follow live soccer action, which comes at a perfect time with the return of the major domestic leagues.

“Triggy has done a fantastic job designing a useful and easy-to-use app, which sits as a nice companion to our core sportsbook. Internally, we have a renewed sense of focus on delivering an exceptional customer experience, and the Pinnacle Live Scores app will play an important role within our wider strategy.”

AYO.NEWS says:

With player acquisition costs growing all the time, engagement and retention is becoming absolutely critical for betting operators, so it’s not surprising that app platforms like Triggy’s are finding plenty of customers. 

Staying with engagement platforms, but switching to esports, just yesterday Espo expanded its roster of team partners, welcoming Built By Gamers, Team BDS, and BOOM Esports. 

‘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. 

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Esports data provider GRID has teamed up with the Drone Champions League. 

According to Esports Insider, the partnership is set to cover both the real-life racing league when it resumes in 2021, and races in Drone Champions League – The Game, with GRID making extensive data available to its network of regulated betting operators and media clients. 

Last year, DCL saw real-life racing in Vaduz, Liechtenstein, but the COVID-19 pandemic forced 2020 Grand Prix to move to the virtual world, with faithful reproductions of Vaduz and Lake Zurich being created for the events.

Discussing the agreement COO of GRID, Thomas Warburton, said:

“Drone Champions League has laid out plans for a future where esports and the physical collide. It is with excitement we bring on this new content to our robust suite of products and our portfolio of partners. With this collaboration, we at GRID aim to enhance the excitement and engagement of the exhilarating racing of DCL.”

While CEO at DCL, Mike Hoehsl, added:

“Our team at Drone Champions League is delighted to join with a data partner which has the caliber and gravitas of GRID.  Our events are pandemic proof, positioning DCL as the most exciting spectator sport over the coming decades. Combining our tech with an audience that is eager for content and engagement products produced by GRID’s data service, we believe we are poised to transform the racing ecosystem.”

DCL teams include Apex Racing, China Dragons, Drone Sports, Falcons Racing, Quad Force One, Raiden Racing, and Xblades Racing. The league also has commercial partnerships in place with Breitling, WWP, IQONIQ, and teamspeak. 

AYO.NEWS says:

DLC is very interesting in that it’s bridging the worlds of video games, esports and real-world sports, pointing the way to a fast, exciting, and borderline mental (just watch the video below) future. It might be a bit much for traditional bookies right now, but give it time…

‘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 announced Vaughan Lewis will be joining the company as Chief Strategy Officer. 

Lewis is currently with Flutter Entertainment, where he has been transformation lead following its acquisition of The Stars Group in May 2020, and is expected to join 888 early next year to take on the newly created role. 

Before Flutter, Lewis held several senior positions, including SVP of Communications at The Stars Group, and Director of Corporate Development at Sky Betting & Gaming.

As Chief Strategy Officer, Lewis will be responsible for developing 888 Holdings’ long-term strategy, including mergers and acquisitions. He will also be managing investor relations, and work with the CFO to develop relevant strategies. 

Commenting on the news 888 Holdings CEO, Itai Pazner, said:

“We are delighted to welcome Vaughan as 888’s first CSO. Vaughan is a highly experienced gaming industry professional with a wealth of relevant expertise across both strategic development and investor relations.

“I have no doubt that his skills and background will support 888 to identify and deliver further growth opportunities over the coming years.”

While Lewis himself added:

“888’s unmatched scalable technology, coupled with its strong brand and marketing expertise have supported its growth to become an industry leader, and provide a powerful platform that underpins the Group’s significant continued growth potential. I am delighted to join a great team and to help drive forward the compelling growth opportunities that lie ahead.”

Staying with 888 Holdings, in October the group confirmed its interest in acquiring William Hill’s European businesses from Caesars Entertainment, when its planned $3.72B USD acquisition of the British bookies has been completed. Caesars had previously announced it only intended to keep William Hill’s US operations. 

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Ultimate Fighting Championship (UFC) has partnered with gamification tech company Low6 to create a new FTP app. 

Low6 is the developer behind the UFC Picks app, which is scheduled for launch on Android and iOS this December in the UK and Ireland.

In addition to giving users the chance to pit their knowledge against other fans through custom tournaments, the app will give exclusive access to a free-to-play £5,000 GBP Pick’em contest for every major UFC event of the year. 

The app will also offer live in-play betting, and feature IMG Arena’s official UFC statistics in its leaderboards. 

Regarding the partnership UFC Vice President Global Partnerships, Nicholas Smith, said:

“The partnership with Low6 and the launch of UFC PICKS will offer a new, unique and exciting way for our fanbase to interact with each other during UFC events.

“At a time where connecting with others is more important than ever, we are looking forward to launching UFC PICKS this December as we close the end of the year with some incredible UFC events.”

While CEO Europe and Co-Founder of Low6, Wayne Stevenson, added:

“This is one of the most exciting partnership deals Low6 has completed. The UFC are undoubtedly one of the most sought-after partners in world sport so this is fantastic for Low6.

“We are using the IMG Arena UFC data feed to provide the best possible experience to Low6 customers which means the UFC Picks app will be best in class. I’d like to thank everyone involved at the UFC and Low6 in getting this partnership completed.”

AYO.NEWS says:

By combining free-to-play competitions, customisable tournaments, cutting-edge visualisations and statistics, and live in-play betting, UFC’s new Low6 developed app may well be giving us a taste of the more entertainment-focused sports betting world of the future. Perhaps bookies should take note. 

‘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.

FTSE100 online gambling group GVC Holdings is planning to rebrand as Entain. 

The rebrand is in line with the group’s strategy to be the global leader in sports betting and gaming entertainment, and will coincide with several major changes to the group’s operations.

By the end of 2023, the group is aiming to operate 100% in regulated markets, with 99% of revenue slated to be generated in regulated markets by the end of 2020. The group is also stepping up player protection efforts, launching the Advanced Responsibility & Care (ARC) program.

Further cementing its commitment to social responsibility, the group will launch the Entain Foundation, committing more than £100M GBP to local communities, grassroots sports, and problem gambling research over the next five years. 

Regarding the changes GVC CEO, Shay Segev, said:

“Today marks an exciting new chapter for the group, and an important step forward in achieving our ambition of being the world leader in sports betting and gaming.

“Under our new corporate identity, we will continue to use our unique technology platform to build on the exceptionally strong momentum that we have in our existing markets, grow into new markets, reach new audiences, enhance the customer experience, and provide industry-leading levels of player protection.

“We are absolutely committed to pursuing the highest standards of corporate governance, to providing outstanding career development opportunities for our colleagues, and to supporting the communities in which we operate.  Our clear strategy of prioritising sustainability and growth will allow us to achieve these goals, thereby providing long-term value for all of our stakeholders.”

The rebrand to Entain is still subject to shareholder approval. 

Staying with GVC, last month the group announced the appointment of David Statz and Robert Hoskin to its Board of Directors. 

AYO.NEWS says:

This is long overdue. For years the stuffy moniker ‘GVC Holdings’ has seemed increasingly out of touch with the increasingly entertainment focused industry the group operates in. And, as for GVC’s logo and visual branding, well, any change will be better. 

When it comes to the 100% regulated market operations and major investment in social responsibility, the group is clearly making a concerted effort to improve the image of the gambling industry, and head off any attempts to introduce draconian Italian or Spanish-style sponsorship and advertising restrictions in the UK. 

‘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.