FinancialBuzz.com News Commentary
NEW YORK, Jan. 14, 2022 /PRNewswire/ -- Sports betting is an industry that is growing rapidly in popularity across the United States. Overall, the country's legal infrastructure is becoming more and more friendly towards sports betting services. Furthermore, the potentially giant market of New York State has joined the game late last week. As expected, the launch of sports betting services in New York broke all previous records. According to a report by wagers.com, data from GeoComply showed that betting volumes on Day One in New York have eclipsed those from the next biggest state of Pennsylvania. During the first weekend of operations, New York saw 5.8 million bets hit between 9am-9pm on Saturday versus 2.3 million in Pennsylvania and 2.1 million in New Jersey. Volume over the weekend totaled 17.2 million with 8 million coming from NYC's five boroughs alone. FansUnite Entertainment Inc. (OTC: FUNFF) (CSE: FANS), DraftKings Inc. (NASDAQ: DKNG), Rush Street Interactive, Inc. (NYSE: RSI), Golden Nugget Online Gaming, Inc. (NASDAQ: GNOG), MGM Resorts International (NYSE: MGM)
As the sports betting market continues to grow in the United States, more and more companies are transitioning from the traditional gambling & casino business model to one that includes sports betting. As the result, investors from countries where sports betting is already a mature industry are getting more interested in the future prospects the U.S. has to offer. Last year, the Betfred Group, founded by U.K. brothers Fred and Peter Done, set up 10 companies in Nevada to operate in states including Louisiana, Ohio and South Dakota, where lawmakers took steps this year to permit sports betting, according to registry filings, Bloomberg reported.
FansUnite Entertainment Inc. (OTCQX: FUNFF) (CSE: FANS) announced yesterday breaking news that, "American Affiliate ("AmAff") has demonstrated strong sales growth and operational performance since FansUnite's acquisition that was announced on November 23, 2021.
Since November 23, 2021, American Affiliate has generated more than $3.4 million CAD in unaudited revenue, while operating at over 30% gross margins, and has registered more than 16,000 new depositing customers for leading partner brands such as BetMGM, WynnBet, Caesars, FanDuel and DraftKings.
'American Affiliate's performance continues to exceed our expectations,' said Chris Grove, Chief Executive Officer of American Affiliate. 'Our growth continues to be powered by our unique strategy of focusing exclusively on the U.S. market with a brand-driven, tech-based portfolio of assets that are able to access potential gamblers across multiple digital and retail channels.'
'The first quarter of 2022 is likely to be the biggest so far for the U.S. online sports betting and casino industry,' continued Grove. 'The introduction of new markets like New York, the continued growth of existing markets, and the tentpole events for professional football and college basketball will all combine to create unprecedented levels of consumer interest and online gambling revenue.'
Overview of American Affiliate's Marquee Brands
- Betting Hero - The #1 live activation network in sports betting, Betting Hero helps people enjoy their experience betting on mobile, providing consumers with the smoothest possible experience as they register, fund, and bet. Betting Heroes are a prominent presence at dozens of casinos, sports bars and live sporting events across the country each and every week.
- BetPrep - A game-changing software that saves sports bettors the effort of collecting data, calculating useful statistics and finding what conditions lead to profitable betting opportunities, BetPrep allows bettors and sharps to test their own strategies on over 10 years of historical sports data and odds.
- Props.com - Providing wall-to-wall coverage of the news, insights, analysis, and trends through entertaining and actionable content, Props.com is a leading hub for the ever-growing population of U.S. sports bettors.
- Wagers.com - The authority at the intersection of sports, gambling, finance and technology, Wagers.com covers industry developments, breaking news and offers expert insight and analysis in an accessible approach.
American Affiliate currently has regulatory approval to operate in 10 states: Arizona, Colorado, Indiana, Louisiana, Michigan, New Jersey, Pennsylvania, Tennessee, Virginia, and West Virginia, and is authorized to provide marketing services for licensed sports betting operators in Massachusetts, New York, and Nevada. Additionally, AmAff is poised to apply for regulatory approval in any other states that legalize sports betting.
'American Affiliate's multi-state operation enables FansUnite to increase our reach to different regulated betting markets across the United States,' said Scott Burton, CEO of FansUnite. 'To be able to achieve these figures within a short, six-week span that included both American Thanksgiving and Christmas is a testament to their ability to connect with consumers and bodes well for FansUnite to continue its positive momentum in 2022.'"
For our latest "Buzz on the Street" Show featuring FansUnite Entertainment Inc., recent corporate news, please head over to: https://www.youtube.com/watch?v=T_INScVXgj0
DraftKings Inc. (NASDAQ: DKNG) announced last week that the company will launch its mobile and online sportsbook in New York on Saturday, January 8. The Company is set to become one of the first operators to launch in the Empire State. The launch comes ahead of the NFL Playoffs, one of the busiest periods for betting activity in the year. The State authorized mobile and online sports betting in New York this past April. "We are excited to finally be able to offer millions of passionate New York sports fans the top rated DraftKings mobile and online Sportsbook," said Jason Robins, CEO, co-founder and chairman of the board, DraftKings. "We want to extend a special thanks to Governor Hochul, Senator Addabbo, Assemblyman Pretlow, the New York Gaming Commission along with the tireless efforts of our dedicated DraftKings team for making this a reality." Home to 10 professional sports teams spanning six major leagues with an additional three teams located within 15 miles of New York City, the state boasts one of the strongest sports cultures in the world with millions of passionate sports fans. DraftKings customers ages 21 and over will be able to place bets on thousands of sporting events including pre-match and in-game markets.
Rush Street Interactive, Inc. (NYSE: RSI) reported this week that its award-winning BetRivers sportsbook is live for online and mobile wagering in New York. Eligible sports fans across the state can sign-up and begin wagering using the BetRivers iOS (Apple) app that is currently available to download from the Apple App Store or by visiting BetRivers.com for those fans using Android (Google) and PC devices. BetRivers is coming to New York at an exciting time in the sports calendar. The upcoming College Football Playoff National Championship Game between the Alabama Crimson Tide and Georgia Bulldogs, the last week of the NFL regular season, and the ongoing NBA, NHL and NCAA basketball seasons are just a few of the many options for players to place their first bet. RSI's sportsbook app was rated in the top 3 out of 35 mobile sportsbook apps in the United States market last quarter by independent gaming research firm Eilers & Krejcik, including ranking #1 in user experience and core player account management features such as registration flows and payment processing. New Yorkers can join the fun today at BetRivers.
Golden Nugget Online Gaming, Inc. (NASDAQ: GNOG) announced last week that it had extended its partnership with OtherLevels a leader in outbound cross-channel marketing and engagement for the gaming industry. The contract extension will allow Golden Nugget and OtherLevels to expand into West Virginia in addition to its current partnership in Michigan and New Jersey and continue delivering rich, relevant and personalized messaging to activate players on Golden Nugget's igaming platforms and digital sportsbooks. "Golden Nugget has been a valued strategic partner to OtherLevels for six years, and we look forward to further expanding our relationship as Golden Nugget's gaming operations launch in Pennsylvania, West Virginia, and other new states in the U.S. market," said Brendan O'Kane, CEO of OtherLevels. "Over the next two years, we will leverage our cross-channel messaging and optimized content delivery capabilities to ensure that personalized, relevant content is reaching the right players on the right channel at precisely the right time."
MGM Resorts International (NYSE: MGM) announced last month that legalized sports betting is now live in Washington at the BetMGM Sportsbook @ EQC. Washington sports legends Edgar Martinez, Marshawn Lynch, Lawyer Milloy and Sydney Rice helped celebrate the sportsbook's official opening and first bets. "We're thrilled to expand BetMGM's presence in Washington, a significant market filled with some of the country's most passionate sports fans," said BetMGM CEO Adam Greenblatt. "Together with the Puyallup Tribe of Indians and our partners at Emerald Queen Casino, we're proud to welcome guests to the state's premier sportsbook."
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