Monthly Archives: July 2020

Washington Redskins stadium sponsor FedEx asks team to change name

The National Football League’s Washington Redskins are feeling the corporate heat over their controversial name, while Barstool Sports doubles down on its woke trolling efforts.

On Wednesday, Adweek reported that Redskins corporate sponsors FedEx, Nike and PepsiCo had received letters signed by 87 investment firms and shareholders with a combined worth of $620b asking the sponsors to pressure the team to change its name, which Native American groups (and anyone else with a conscience) have long derided as a racist anachronism.

On Thursday, FedEx blinked, announcing that it had “communicated to the team in Washington our request that they change the team name.” Quite apart from the fact that FedEx couldn’t even bring itself to say the team’s name, FedEx pays $8m per year for naming rights to the team’s home stadium and FedEx chairman/CEO Fred Smith holds an ownership stake in the team.

The other corporations targeted in the letter have yet to publicly comment on their own intentions, but public pressure will undoubtedly mount as word of FedEx’s statement circulates.

Big Machine Hand Sanitizer 400 betting preview

Odds courtesy of OddsShark.com

There are a few tracks on the NASCAR Cup Series that simply stand apart from the rest. One of those on the very short list is Indianapolis Motor Speedway, which of course is better known as the annual host of the open-wheel Indianapolis 500.

NASCAR first visited the famed Brickyard in 1994 and returns for its only visit this year on Sunday with the very uniquely named Big Machine Hand Sanitizer 400 Powered by Big Machine Records. It’s a 400-mile race on the 2.5-mile rectangular oval, meaning there will be 160 laps, and there will be no fans in attendance.

Big Machine Hand Sanitizer is an 80-percent alcohol antiseptic topical solution that obviously has become much more important during the pandemic and is from the same distillery that produces Big Machine Platinum Filtered Premium Vodka.

IP-NO: Gateway Casinos reverse listing hits a snag

Canadian gaming operator Gateway Casinos & Entertainment is signalling that its planned acquisition and listing on the New York Stock Exchange might be in trouble.

In the dying days of 2019, Toronto-based private equity firm Catalyst Capital Group announced plans to merge its Gateway Casinos business with US-based Leisure Acquisition Corp (LAC), a publicly traded ‘special purpose acquisition company’ of the type that is currently all the rage with private gaming operators looking to go public.

The C$1.5b (US$1.1b) transaction was supposed to result in Gateway being listed on the NYSE following the deal’s completion this April. But that deadline was eventually delayed until June 30, and last week LAC shareholders voted to extend the deadline all the way to December 1, assuming neither party throws in the towel over the next couple weeks.

LAC filed papers two weeks ago stating that it was “unlikely” that the parties would finalize the deal by June 30 while warning  that either party had the right to walk away from the table if the marriage remains unconsummated by July 15.

Swiss-licensed online casinos earn €23.5m in 2019

Switzerland’s regulated online gambling market generated revenue of €23.5m in its first partial year of operations.

This week, Switzerland’s federal gaming board (ESBK) released its 2019 annual report, which showed the four locally licensed online casinos that launched operations in 2019 generated combined revenue of €23.5m following the market’s official launch last July.

The ESBK didn’t break out specific sums for each online casino but the Stadtcasino Baden group previously announced that its two sites (Jackpots.ch and Casino777.ch) reported combined revenue of CHF7.6m (€7.15m) last year while Grand Casino Luzern’s Mycasino.ch brought in CHF9m (€8.47m).

The only other casino to launch an online gambling site last year was the Swiss Casinos group’s Pfäffikon-Zürichsee, so subtracting the other sites’ contributions leaves us with around €7.9m in unaccounted online revenue. Which would make the Luzern casino’s Mycasino.ch (second to launch after Jackpots.ch) the market’s initial king of the hill.