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Wire NORTH AMERICA


Senate Approves Single Event Betting


Single-event sports betting is coming to Canada with the Senate successfully passing Bill C-218, without amendment, at the Tird Reading.


Te bill is now eligible to receive Royal Assent and be proclaimed into force, allowing the Canadian gaming industry to begin working with provincial partners.


CANADA SPORTS BETTING


Indiana - WynnBET partners Cincinnati Reds Wynn Resorts has announced a new corporate partnership with its casino and sports betting app WynnBET and the Cincinnati Reds. The two companies will collaborate on marketing efforts throughout the current 2021 season to introduce WynnBET to Reds fans in Indiana as the mobile sportsbook continues its expansion effort in the state.


WynnBET will have access to official Reds marks and logos for use across its online products, as well as robust marketing assets to create co-branded promotional offers for sports betting enthusiasts that are available only through the WynnBET app for users in Indiana.


US - Everi expects record revenues in Q2 Everi Holdings has said it expects to set new quarterly records for revenue in its second quarter results ending June 30, with revenue of between $167m and $172m expected. The increase equates to more than 25 per cent compared to $129.7m in the pre- pandemic 2019 second quarter. The company said: “The expected record 2021 Q2 results demonstrate meaningful quarterly sequential improvement compared to the 2021 first quarter results as well as substantial growth compared to the pre-pandemic 2019 second quarter results, even with a continued albeit lesser impact from the COVID19 pandemic.”


Everi further announced a plan to refinance its outstanding total debt and extend maturities. After refinancing its $1,144.9m total outstanding debt, the company expects to have $1bn of outstanding total debt and to have a new $125m Revolving Credit Facility that will be undrawn at closing.


US - New Hard Rock opens with JCM Global The new Hard Rock Casino Northern Indiana opened on May 14 with technology exclusively from JCM Global. JCM installed its iVIZION bill validator, GEN5 Thermal Printer, and ICB Intelligent Cash Box System on each of the property’s 1,650 games. The installation marks the latest milestone in a long relationship between Hard Rock and JCM.


“We are honoured by the continually growing relationship we share with Hard Rock and thrilled to have been chosen for this newest and exciting Hard Rock Casino,” said JCM SVP of Sales, Marketing & Operations Dave Kubajak. “We are humbled to say more than 90 per cent of Native American and First Nations operators in North America use and trust JCM products in their casinos.”


The property is the latest in a series of recent properties to open with JCM technology solutions to help enhance the guest experience, increase security, and boost efficiencies. This is also the second Hard Rock casino to open in the last two years that has chosen JCM systems and products.


P18 WIRE / PULSE / INSIGHT / REPORTS


Single-event sports betting is coming to Canada with the Senate successfully passing Bill C-218, without amendment, at Tird Reading. Bill sponsor Senator, David Wells, said: “We have been seeking this change for years and are ready to respond to it quickly and responsibly. While we can not dictate the regulatory practices of Canada’s provincial governments, what we can do is make this modification to one line of the Criminal Code, thereby empowering them to safely bring single-event sports betting within Canada.”


“Tis is a major milestone and achievement for the Canadian gaming industry,” said Paul Burns, President and CEO of the Canadian Gaming Association. “Te CGA has been working to legalize single-event sports betting for more than 10 years and Bill C-218 benefited from a groundswell of broad stakeholder support from across Canada. Te need for regulation, oversight, player protection, and the creation of economic benefits for Canada was understood by everyone involved in the legislative process, which is why the Bill was successfully passed.”


“Te serious and thoughtful consideration of Bill C-218 by Senators and Members of Parliament will dramatically improve the ability to offer sports betting in Canada and provide an important competitive tool for an industry that has been severely impacted by COVID-19 shutdowns,” stated Carrie Kormos, CGA Chair.


Bally's acquires Jumer's Casino from Delaware North


Illinois


Bally's Corporation has completed the previously announced acquisition of Jumer's Casino & Hotel from Delaware North Companies Gaming & Entertainment for $120m, which the company funded using available borrowings under its revolving credit facility.


George Papanier, President and Chief Executive Officer of Bally's Corporation, said: "As the latest step in our ongoing portfolio diversification strategy, we are excited to complete our acquisition of Jumer's and enter the rapidly growing Illinois gaming


Following Royal Assent, provinces will have the authority to deliver a safe, legal, and controlled sports betting option to Canadians, and to enact strong regulatory standards. Shortly after Bill C- 218 receives Royal Assent, British Colombia Lottery Corp. will enable PlayNow.com players to wager on the outcome of a single game or match.


“Tis is a huge win for PlayNow.com players, and British Columbians overall,” says Lynda Cavanaugh, BCLC’s Interim President and CEO. “We’re excited to soon provide our players these new offerings on PlayNow.com, which is B.C.’s only legal gambling website and delivers important revenue back to the Province of B.C. to support things like healthcare, education and community programmes.”


theScore estimates a market potential for online gaming in Canada of between US$4.3bn and US$5.4bn in annual gross gaming revenue, based on historical data extrapolated from legal online gaming markets in the US and globally.


Te province of Ontario is a market that would be equivalent to the fifth largest US state by population. theScore estimates a market potential for online gaming in Ontario of between US$1.7bn and US$2.1bn in annual gross gaming revenue, based on historical data extrapolated from legal online gaming markets in the US and globally.


market. Te closing provides Bally's with the potential to capitalise on several lucrative sports betting opportunities, which we expect will drive revenue and cash flow growth. We are pleased to welcome Jumer's into the Bally's family, and look forward to leveraging our expertise to enhance the property's operations."


Bally's expects this transaction to be immediately accretive to earnings based on the property's strong fiscal year 2019 Adjusted EBITDA and performance since reopening during the COVID-19 pandemic. Te acquisition also provides Bally's the opportunity to capitalise on lucrative sports betting opportunities by further expanding its geographic footprint into the growing Illinois gaming market.


Washington


Te Washington State Gambling Commission unanimously approved sports wagering compact amendments for 15 Washington State federally recognised Tribes at its June 10, 2021 public meeting, including the Colville, Cowlitz, Jamestown S’Klallum, Kalispel, Lummi, Muckleshoot, Puyallup, Shoalwater Bay, Snoqualmie, Spokane, Squaxin Island, Stillaguamish, Suquamish, Swinomish, and Tulalip Tribes. Tese compacts will go onto each Tribe’s Chair and Governor Inslee for their approvals. Once signed by both, each compact amendment will be forwarded to the Secretary of the Department of Interior for review and action. Te Department of Interior has 45 days to act once they receive it or it is deemed approved and published in the federal register.


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