Wire NORTH AMERICA
DraftKings Acquires Jackpocket for $750m
DraftKings is set to enter the US digital lottery vertical following the $750m purchase of Jackpocket.
DraftKings is set to buy Jackpocket, the leading lottery app in the United States, for $750m. Jackpocket, a provider of digital lottery services, was downloaded nine times more than its closest competitor in the digital lottery app category in fiscal year 2023 according to Sensor Tower estimates.
Te first licensed third-party lottery app in the United States, Jackpocket provides an easy, secure way to order official state lottery tickets. Jackpocket is currently available in Arizona, Arkansas, Colorado, Idaho, Massachusetts, Minnesota, Montana, Nebraska, New Hampshire, New Jersey, New Mexico, New York, Ohio, Oregon, Puerto Rico, Texas, Washington D.C., and West Virginia.
Te proposed transaction will enable DraftKings to access and grow into the US lottery industry, but more importantly strengthen its position in sportsbook and iGaming through higher customer lifetime value – based on demonstrated cross-sell capabilities – and an enhanced customer acquisition engine.
“We are very excited to enter the rapidly Michigan
Fanatics Betting and Gaming, a subsidiary of Fanatics Holdings Inc, a global digital sports platform, has launched the Fanatics Sportsbook & Casino in Michigan, marking the thirteenth state for the Fanatics Sportsbook and third state for Fanatics Casino.
In August 2023, Fanatics Betting and Gaming began acquiring the US businesses of PointsBet and planning the migration of PointsBet customers to the Fanatics Sportsbook app. In Michigan only, each PointsBet customer’s username, password, account balance, rewards points and responsible gaming settings will be automatically migrated to the Fanatics Sportsbook.
Part of the launch is the debut of a newly designed online casino embedded in the Fanatics Sportsbook app.
growing US digital lottery vertical with our acquisition of Jackpocket,” said Jason Robins, Co-founder and CEO of DraftKings. “Tis transaction will create significant value for DraftKings not only by giving our customers another differentiated product to enjoy but also by improving our overall marketing efficiency similar to how our daily fantasy sports database created an advantage for DraftKings in OSB and iGaming.”
“Together with DraftKings, we will be able to bring tremendous value to our customer base as we advance our mission to create a more convenient, fun, and responsible way to take part in the lottery,” added Peter Sullivan, CEO of Jackpocket. “DraftKings’ broad footprint and exceptional mobile products present an opportunity to meaningfully expand the digital lottery vertical, and we could not be more excited to come together with DraftKings.”
Te news came as DraftKings reported revenue of $1,231m for the fourth quarter of last year, marking an increase of $376m or 44 per cent. 2024 is expected to be the company’s first full year of positive Adjusted EBITDA.
New York Resorts World staff rally against New York bill
Almost 700 workers at Resorts World casino at Aqueduct in Queens, New York, have united to speak out against a New York bill that would approve online gaming in the Empire State, saying it will, threaten the security of their jobs.
In a letter sent by Hotel & Gaming Trades Council union to New York Senator Joe Addabbo, the workers accuse him of 'pushing legislation that would hurt workers like us and our industry.'
Tey said: "We find it appalling that you are pushing legislation that would hurt workers like us and our industry in order to benefit a handful of companies who are seeking massive profits at our expense. When customers come to a racino, VLT [Video Lottery Terminal] parlor, or casino, they support all of our jobs, including
cooks, bartenders, servers, maintenance workers, and hotel workers.
"We know that if, instead, they were to game from their homes, workplaces, or elsewhere, their dollars would go straight into the pockets of gaming companies, rather than to support the livelihoods of thousands of New Yorkers who support the state’s gaming industry.”
Bhav Tibrewal, Political Director of the union, added: “Tis iGaming proposal undercuts the best thing about casino gaming in New York: permanent, high-quality jobs that New Yorkers can live and retire on. We’ve stated and re-stated our opposition to iGaming to Senator Addabbo and now it’s time for... legislators to start hearing it directly from casino workers.”
Nevada - Venetian to unveil new poker room The Venetian Las Vegas plans to unveil a brand-new poker room this summer. The iconic poker room will relocate from The Venetian casino floor to Level 2, Grand Canal Shoppes. The new poker room will feature 50 tables spread across 14,000 square feet of space, making it the largest room on the Strip.
The expansion allows for upgraded seating arrangements and the spaciousness for which the current Venetian Poker Room is known. In addition to the expanded space, the new poker room will feature a range of amenities aimed at enhancing player comfort and enjoyment. The room will have kiosks for both the resort’s loyalty programme, Venetian Rewards, and sports betting operated by William Hill.
Rhode Island - Bally’s delivers strong 2023 Bally's Corp. generated revenues fourth quarter revenues of $611.7m, up 6.1 per cent year-over-year, sending revenues for the year up by 8.6 per cent. Casinos & Resorts revenues of $342.3m were up 7.2 per cent year-over-year, International Interactive revenues of $236m were up 2.1 per cent year-over- year whilst North America Interactive revenues of $33.4m, were up 26.9 per cent year-over-year year.
Q4 saw Bally's commence 24/7 operations at the Chicago Temporary Casino on December 27. The property reached record $10m GGR for first full month of 24/7 operations in January. It also announced the official closure of Tropicana Las Vegas to prepare for the welcoming of the Las Vegas A’s.
Colorado - SIS debuts fixed-odds horse racing SIS Content Services, part of the SIS (Sports Information Services) Group, has agreed a deal with long-time operator partner bet365 to deliver its global horse racing content to bettors in Colorado, bringing fixed-odds horse racing wagering to a licensed sports betting platform for the first time in the United States.
The approval of horse racing fixed-odds wagering on Colorado sportsbooks will aid the sport attracting a wider range of casual bettors, who will be offered the same type of betting as all other sports. It represents positive news for a range of Colorado stakeholders, including Bally's Arapahoe Park and the Colorado Horsemen’s Association as a portion of turnover is directed to Colorado horse racing.
Michele Fischer, VP, SIS Content Services, said: “The launch of fixed-odds horse racing betting on Colorado sportsbooks puts horse racing on equal footing with other sports and hopefully attracts a new fan base and revenue for our racetrack partners. I commend the Colorado horse racing stakeholders, Colorado Division of Gaming and bet365 for their vision and support.”
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