Wire NORTH AMERICA
PENN pens $1.5bn ESPN Deal
Te online Barstool Sportsbook will be rebranded ESPN Bet later this year after PENN Entertainment enters into mega agreement with media giant.
PENN has sold 100 per cent of the Barstool Sports common stock to Founder David Portnoy for one dollar in exchange for certain restrictive covenants.
PENNSYLVANIA OPERATOR NEWS
NEW JERSEY - IMG ARENA's Golf Event Centre has been integrated into FanDuel Sportsbook. Commencing with the FedEx St. Jude Championship, the integration strengthens the platform's golf betting offering.
Through the IMG Arena Golf Event Centre, FanDuel will bring a library of new live betting markets to golf fans including closest-to-the-pin, longest drive, number of birdies and stroke-by-stroke bets that will allow fans to engage with golf at any point in the tournament, as well as an enhanced data visualisation experience.
US – Play’n GO has announced a partnership with Rush Street Interactive to launch its games on the BetRivers platform as the Swedish-founded company continues its expansion in North America.
BetRivers players in Michigan and New Jersey are able to enjoy Play’n GO’s titles including KISS: Reels of Rock, Fire Joker, and Rise of Merlin, with the rollout to extend to more states where RSI operates in the coming months, as well as a further expansion of Play’n GO’s catalogue of games, such as Book of Dead.
WISCONSIN – International Game Technology will soon expand its sports betting footprint in Wisconsin via a multi-year agreement with the St. Croix Chippewa Indians of Wisconsin. IGT PlaySports technology will power retail sports betting at St. Croix Casino in Turtle Lake, Wisc., St. Croix Casino in Danbury, Wisc. and St Croix Casino in Hertel, Wisc. All three casinos will leverage IGT's trading advisory services and deploy self-service IGT PlaySports QuickBet Kiosks.
"As a trusted sports betting partner in Wisconsin and beyond, IGT PlaySports looks forward to helping St. Croix Casinos scale their player engagement and sportsbooks' profitability with our technology and services," said IGT’s Joe Asher. "Through our proven PlaySports solution, IGT delivers on what today's sports fans value most in a sportsbook: choice, convenience, and reliable and intuitive technology."
NEVADA – HHR gaming solutions provider, Exacta, has announced the first-ever electronic table games to be powered by the Exacta Connect HHR system in partnership with Interblock. The move makes Interblock's roulette ETG products the first to incorporate the open-source HHR system.
“Our partnership with Exacta creates a unique offering within the HHR sector, taking two innovative companies and combining our best practices to further expand the HHR sector by the end of this year," said Interblock’s John Connelly.
P24 WIRE / PULSE / INSIGHT / REPORTS
PENN Entertainment has entered into a $1.5bn exclusive US online sports betting agreement with ESPN and ESPN Enterprises giving PENN exclusive rights to the sports brand for an initial 10-year term.
Te online Barstool Sportsbook will be rebranded ESPN Bet later this year whilst TeScore Bet will continue to operate in Canada. ESPN Bet, operated by PENN Interactive, will benefit from exclusive promotional services across ESPN platforms including programming, content, and access to ESPN talent. PENN has agreed to make $1.5bn in cash payments to ESPN paid over the initial ten-year term and grant ESPN approximately $5001m of warrants to purchase approximately 31.8m PENN common shares that will vest ratably over 10 years, in exchange for media, marketing services, brand and other rights provided by ESPN.
Powered by a new promotional engine, the new app will include a separate Hollywood-branded iCasino product in those states where permitted. PENN has divested Barstool Sports to Founder David Portnoy: PENN sold 100 per cent of the Barstool Sports common stock to Founder David
Portnoy for one dollar in exchange for certain non-compete and other restrictive covenants. PENN also has the right to receive 50 per cent of the gross proceeds received by David Portnoy in any subsequent sale or other monetisation event of Barstool.
Jay Snowden, CEO and President of PENN, commented: “Our agreement with ESPN will provide us access to the largest ecosystem in sports, with more than 105 million monthly unique digital visitors, an audience of more than 370 million across social platforms, over 25 million ESPN+ subscribers, and the nation’s largest fantasy database.
“PENN’s ability to leverage the leading sports media brands in both the US and Canada with ESPN and theScore, combined with our newly launched sports betting app, will allow us to significantly expand our digital footprint and catapult ESPN Bet into a strong podium position in this space. We believe we can achieve substantial adjusted EBITDA in our interactive segment over the coming years – and this will translate to very strong free cash flow generation for the company.”
Connecticut Foxwoods opens new Pequot Woodland Casino
Foxwoods Resort Casino has announced the grand opening of the brand new Pequot Woodland Casino. Open to the public on August 29, the 50,000+ sq ft casino is located in the Grand Pequot Concourse.
Notable features of the new casino include over 430 new slot machines, a 40-seat slot bar named Truth Searcher, 24 table games, a new high limit slot room with 130 state-of-the-art machines, a public bar, casino cage and a few additional surprises, creating a dynamic experience for guests in one of the most popular locations at Foxwoods.
“We are proud to open our Pequot Woodlands Casino, one of the most significant property updates we have made in recent years,” stated Jason Guyot, President & CEO of Foxwoods Resort Casino. “Tis incredible achievement speaks volumes about Foxwoods’ growth and innovation over the past year,
as we continue to focus on offering our guests world-class amenities. We are excited for our guests to experience this dynamic new gaming area, right in the heart of the resort.”
Te casino boasts an elevated, modern look that incorporates Pequot-inspired designs and symbols, creating a forest-like atmosphere. Tis ambiance features wood-wrapped pillars, cloud-like structures, and a custom-designed carpet that mimics light refracting through trees. Custom chandeliers and clouds encircled with a three-ring motif further contribute to the design, highlighting Pequot symbols that ‘celebrate community and alliance’.
Additional amenities include an expansive new Bingo Hall and Expo Hall; Gordon Ramsay’s HELL’s KITCHEN, a new Great Wolf Lodge, set to open in 2025; and the fast-casual chain, Wahlburgers.
Nevada
Acres Manufacturing has introduced a key new feature of its Foundation HQ casino management system (CMS) which allows players to digitally enroll in casino loyalty programmes in approximately ten seconds while at the slot machine.
A recent Acres study highlighted that the current player enrolment process utilising legacy, decades-old CMS technology costs casino operators approximately $5bn annually, or roughly seven per cent of casino slot win, thanks to unnecessary costs and lost revenue.
Te study showed that the industry burdens its players by making them wait in line for over 1.1 billion minutes annually while trying to enroll in the loyalty club - time that they could be playing at the slot machine.
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