Monthly Archives: September 2016

DraftKings Raises $150 Million, Strong Show for DFS Investability

DraftKings has raised over $150 million in a new round of venture capital funding, according to a report by Fortune. Among the investors is Revolution Growth, the firm co-founded by Washington Capitals and Washington Wizards owner Ted Leonsis, thus increasing the stake that major sports leagues hold in the DFS industry. The leagues have traditionally […]

The post DraftKings Raises $150 Million, Strong Show for DFS Investability appeared first on .

DraftKings Raises $150 Million, Strong Show for DFS Investability

DraftKings has raised over $150 million in a new round of venture capital funding, according to a report by Fortune. Among the investors is Revolution Growth, the firm co-founded by Washington Capitals and Washington Wizards owner Ted Leonsis, thus increasing the stake that major sports leagues hold in the DFS industry. The leagues have traditionally […]

The post DraftKings Raises $150 Million, Strong Show for DFS Investability appeared first on .

Tak Chun Group junket shifting tables from MGM Macau to Parisian Macao

Macau junket operator Tak Chun Group is closing its operations at MGM Macau and relocating to Las Vegas Sands’ new Parisian Macao property.

On Monday, GGRAsia reported that Tak Chun had “suspended” its VIP operations at MGM Macau last month. The junket’s presence at MGM Macau is believed to have encompassed a total of 15 VIP tables.

Tak Chun representatives declined to specify how large a presence the company intended to establish at the new Parisian Macao, which is set to open its doors to the public on September 13. Tak Chun had previously confirmed that it would operate 15 VIP tables at Wynn Resorts’ Wynn Palace, which opened on August 22.

On Monday, Macau officials announced that the Parisian would receive only 100 new-to-market tables when it opened, with 25 more granted on Jan 1., 2017 and a final 25 the following year. The new table allocation is well below what Sands was hoping for but similar to that received by Wynn Palace.

Iao Kun Group closing at least one Macau VIP room, possibly two more

Junket investor Iao Kun Group Holding Company (IKGH) is closing one of its Macau casino VIP rooms due to the market’s ongoing challenges.

On Friday, IKGH announced that it was undertaking a comprehensive strategic review of its Macau VIP gaming operations in order to enhance its operating performance. IKGH chairman Lam Man Pou said the review was necessary “given the lack of recovery” in Macau’s VIP market and “expectations that this will continue for the foreseeable future.”

IKGH has an interest in five VIP gaming rooms in Macau but turnover at these rooms fell 47% in the first half of 2016. IKGH now believes that the current volume of rolling chip turnover in Macau “does not warrant the operation of five VIP gaming rooms.”

The most immediate impact of the strategic review is the closure of IKGH’s VIP gaming room at Las Vegas Sands’ Sands Cotai Central and the termination of IKGH’s relationship with King’s Gaming Promotion Ltd. IKGH says the closure should generate annual cost savings of around $750k.

Ted Forrest Facing Felony Theft, Bad Checks Charges to Wynn Las Vegas

Ted Forrest had better hope his legal counsel is as good at lawyering as the poker pro is at playing stud. The six-time World Series of Poker gold bracelet winner is facing a pair of felony charges:  one for theft, and the other for drawing and passing a check without sufficient funds with the intent […]

The post Ted Forrest Facing Felony Theft, Bad Checks Charges to Wynn Las Vegas appeared first on .

Silver Chalice Looks For Digital Gold

Silver Chalice Looks For Digital Gold
By: Tanner Simkins
In recent years the buzzwords in sports business were things like “Daily Fantasy,” and “OTT,” 2016 is clearly shaping up as the year of streaming. From new platforms like Amazon getting involved in the sports space, to the focus on digital during the Rio Olympics to the flurry of deals announced with Facebook Live and Twitter, the non-traditional engagement platforms are gaining speed from the largest of properties to the most niche.
One of those companies growing quickly in the space is Silver Chalice. Founded in 2009 the Chicago-based company had a goal to create television­-quality video in partnership with rights holders and other dominant players in the sports media industry to a fast-growing digital first world. Led by Chairman Jerry Reinsdorf and his co-­owners of the Chicago White Sox, Silver Chalice owns and operates Campus Insiders, SportsLabs, the ACC Digital Network in partnership with Raycom Sports and the Atlantic Coast Conference, and 120 Sports in partnership with MLBAM, the NHL, Time Inc. / Sports Illustrated, the PGA TOUR. They also recently received an infusion of investment dollars from BAMTECH  to grow the businesses even further, and have announced a slew of deals, including a Twitter streaming partnership and the moving of its “Morning Run” news and information show to New York.
We caught up with Dana Golden, EVP, Business Development.  to find out more about the goings-on with Silver Chalice and its growing list of partners.
 
This is the latest in a series of announcements that really positions the Silver Chalice properties for growth in the digital space. How did these come about in such a rapid fire succession, and what are the first things people will notice?
The recent flurry of announcements reflects the demand for high quality sports content in the digital space and the emergence of OTT products and platforms to support the demand. Our content offering is unique in that we deliver live programming like a linear cable network but also provide timely video on demand news content with the best plays and game highlights to support what fans are talking about. People will notice our time to market with quality video content that is easily discoverable by team, sport, athlete, coach, conference, trending hashtags and more.
How do you think the Twitter announcement will impact traffic for the platforms?
What’s unique about Twitter is that you have certified fans of schools already talking about their teams, the plays, the score, game reactions and more. By streaming games directly on our network and conference handles, the Twitter platform becomes the first screen experience and delivers a more engaged audience that can converse with each other and share insights with both fans and rivals. We know the power of social media sharing and we believe Twitter has the opportunity to drive viewership and followers to our network through our live games and shoulder programing.
You have some very powerful partners with great content. How will that content be used differently or more effectively going forward?
From the Mountain West to the Patriot League to the West Coast Conference and now with the addition of Conference USA, we do, in fact, have great Conference partners. On the 120 Sports front, we have very strong partnerships in place with 20+ professional leagues, everyone from MLB to the UFC to the Professional Bowlers Association. We’re proud of these partnerships and believe together we can deliver tremendous value to sports fans across the country. Being able to lean into MLBAM’s array of technology will no doubt allow us to bring a better experience to distributors, sponsors and fans. Time will tell how these experiences will manifest themselves over the next few years, but we are excited about the possibilities.
Campus Insiders has built a treasure trove of content on its own, will this week’s announcement provide assets to get into more rights deals than already exist?
We’re very proud of the live game schedule that we have built at Campus Insiders since our launch. We started with zero games in 2013 to this year when we anticipate streaming over 3200 games. A large part of our success to date has been the commitment of our conference partners in embracing forward-thinking partnerships with long-term goals. With the BAMTech announcement, Campus Insider is poised to grow and we look forward to adding to our live game portfolio, as rights become available.
What does Morning Run moving to New York do for the show in terms of content, and for the visibility of 120 Sports?
Moving the Morning Run from Chicago to New York gives 120 Sports a daily presence in two of the biggest sports markets in the country.  This will not only allow us to be closer to our partners, but enable us to tap into the biggest names in sports while they’re in town. We’re excited about the possibilities.
BAMTECH had already made a Disney announcement and ESPN tied to that an ACC Network deal for the future, and Silver Chalice has the ACC Digital Network. Will there be collaborations on content between the ACC, ESPN and Silver Chalice going forward?
For the ACC Digital Network, it’s business as usual. Since its launch in 2011, the ACCDN has always been the go-to source for all things ACC: from previews, to recaps, to Must See Moments, the ACCDN produces the most comprehensive video-on-demand segments in the market today. We don’t expect that to change.
120 Sports launched to much fanfare, then retooled and went quiet and now is very prominent again. Where would we expect to see 120 in the digital media conversationin six month to a year and why?
Since we launched in June 2014, we have been focused on making the 120 Sports product and content better every single day. That work will continue to happen. Today, 120 Sports produces more than 40 hours of live and original programming each week and distributes over 100 VOD segments each day.  That is a tremendous amount of content that is unheard of for a digital sports business. As we launch on additional platforms and become a fixture of OTT services, we expect 120 Sports will become part of the daily sports conversation, the place where fans of all ages find the best highlights, analysis and production. As digital sports consumption grows, we expect 120 Sports to grow as well.
With all the content and partnerships now on the table, what is the most valuable piece of the business SC has and why?
Clearly, the Campus Insiders’ live games are at the core of our offering. However, we also pride ourselves on the studio operations that 120 Sports, Campus Insiders and the ACC Digital Network have created. Day in, day out, these teams are producing very compelling, footage-driven highlights and feature story telling that compares with any sports cable television network. So it’s not really one or the other that is most valuable to our business, but the combination of our live games AND the shoulder programming that we produce that creates the best fan experience.
For those new to the platform for this fall. What’s the one thing, or two things, you will tell brands and consumers to watch for?
As noted previously, we have announced a flurry of deal activity across our network portfolio over the last few weeks.  Up next is launching these platforms and actually making them available to those that matter the most: that is, the sports fan. Last week, Campus Insiders launched on Sling TV and we were very proud to stream the first college football game on Twitter on September 1st. Expect more launches throughout the fall and more live games on Twitter. It’s a very exciting time in our business!

Industry looks to Juegos Miami as dates and venue confirmed for 2017 event

The second edition of Juegos Miami will be held across 31 May to 2 June at the popular Miami Biltmore Hotel. Joint organisers, Clarion Events and Urban Expositions confirmed details of the 2017 edition following what they described as the ‘overwhelming support’ of stakeholders throughout the region.

Kate Chambers, Managing Director of Clarion’s gaming division and one of the architects of the event which was created to meet the specific needs of the Pan Latin American and Caribbean industry, stated: “We have been engaging with our customers and stakeholders from the very start of the Juegos Miami journey and I am delighted at the volume of positivity from those who attended the inaugural edition and a desire to participate from organisations and individuals who weren’t part of the Miami experience first time around.

“Launches are the hardest things to execute in the events business and certainly the first edition of Juegos Miami was extremely well received by our supporting companies, by the conference speakers, by attendees as well as by the community of international gaming media.

“We have learned a lot about the specific needs of the market and whilst the foundations of the Juegos Miami proposition will remain true to the vision, we will be working to implement the changes the market

SBTech Gains Italian Certification for World-Class Sportsbook

September 5th, 2016 | SBTech, the leading global provider of online Sports Betting solutions, management services and iGaming platforms, has successfully completed the compliance process to provide its best-in-class Sportsbook in the Italian regulated market, cementing the group’s strategy of being a key supplier in regulated markets.

The company’s Sportsbook has just launched with its first Italian operator, NetBet.it. SBTech already provides NetBet with software solutions in numerous markets, including the UK, Romania, Malta and Greece, and clearing this hurdle will now enable NetBet to establish itself even more firmly as a major player in the Italian online gaming market. This latest success represents a significant milestone for SBTech, as the company continues to extend its global reach.

Alain Boccara, CEO NetBet Italy comments: “This achievement opens up a new chapter in our ongoing relationship with SBTech. The company’s skill and professionalism in meeting literally any challenge is the reason we are proud to be powered by their platform.”

The compliance was certified by the Agency for Customs and Monopolies (ADM), formerly known as the Autonomous Administration of State Monopolies (AAMS). It assessed SBTech’s proficiency with Communication Protocol 3.3, controlled by the General Society for Information Technology (SOGEI), the state-owned organisation which administers online financial services. This protocol enables full ownership of a Sportsbook offering by the operator, as well as a host of advanced technical features.

Fate of Canada’s sports betting bill to be known on Sept 21

Canadian lawmakers are set to put to a vote this month a bill amending the national criminal code that will allow for single-game wagering.

Deliberations on whether to send a piece of legislation called C-221 (Safe and Regulated Sports Betting Act) to the Committee on Justice and Human Rights for further deliberation, or to reject the bill has been set on September 22, according to Legal Sports Report, citing anonymous sources.

C-221, which was introduced by MP Brian Masse earlier this year, provides that the “enactment repeals paragraph 207(4)‍(b) of the Criminal Code to make it lawful for the government of a province, or a person or entity licensed by the Lieutenant Governor in Council of that province, to conduct and manage a lottery scheme in the province that involves betting on a race or fight or on a single sport event or athletic contest.”

It was submitted as a private member’s bill, meaning it was not introduced by a cabinet minister and was separate from the government’s legislative agenda. According to the report, Canadian Prime Minister Justin Trudeau’s administration was cool toward the bill.

Penn lawmakers to monitor pari-mutuel-DFS marriage

Daily fantasy sports (DFS) provider USFantasy is bringing its new form of fantasy football wagering in Pennsylvania amid on-going legislative debates on regulations for DFS sports betting.

Trib Live reported USFanstasy launched its pari-mutuel style fantasy football product in Pennsylvania, just three months after it successfully got the nod of the Nevada Gaming Control Board to operate the fantasy sport in the state.

Unlike the usual DFS, USFantasy’s product is based on pari-mutuel betting – the pool style of wagering for horse and dog races – that is tied to NFL.

Republican Rep. George Dunbar, R-Penn Township, said they will be monitoring how things go for the DFS operator. Should it become successful, Dunbar said that the pari-mutuel fantasy football could be on the table later this year.

Malta: The Ultimate iGaming Destination

Having recently labelled Malta as the ‘Silicon Valley’ of the iGaming industry, SiGMA founders Dennis Dhyr Hansen and Eman Pulis deem this nickname to be very apt, since the evidence speaks for itself. We took it upon ourselves to delve deeper into a handful of factors and how their diversity complements the fact that Malta is one of the top iGaming hubs in the world.

As with any other sector, the success of iGaming is intricately associated to the legal and financial scene that players have to confront so as to rise to the top of their game. Malta prides itself in a solid regulatory framework, with favourable tax benefits and a government that has conventionally acknowledged, understood and reinforced the remote gaming industry in the countless trials and tribulations (and opportunities) it comes across.

Malta’s unparalleled support to iGaming firms and its transparency policy is undoubtedly noted in the number of government entities that synergise their arduous work to help better this business. The Lotteries and Gaming Authority (LGA), Malta Enterprise, the Malta Financial Services Authority (MFSA) and the Malta Tourism Authority (MTA) all collaborate to guarantee the needs of gaming companies based and licensed in Malta adhered to.

Additionally, Gaming Malta, which is a non-profit organisation was launched in March 2015. With its founding members being the Government of Malta and the Malta Gaming Authority, Gaming Malta strives to promote the country as an iGaming centre of excellence in the Mediterranean and the European Union.