The Three Top Online Casino Markets in the U.S Projected to Generate More Than $1.5 Billion Combined in 2021
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Palm Beach, FL - October 1, 2021 – FinancialNewsMedia.com News Commentary – Legal online casino gambling continues to boom in the US. The three top online casino markets in the US have generated more than $1.5 billion in combined 2021 revenue through the first half of the year... but 2020 was pretty good too! In 2020 both New Jersey and Pennsylvania realized an online casino revenue surge after COVID-19 considerations shuttered land-based casinos across the country in March. Retail casinos in both states resumed business at limited capacity by summertime, but that didn't slow the mobile sports betting boom in either state. December marked periods of record-high monthly online casino revenues in both states. New Jersey nearly hit the $100 million monthly revenue mark in the final month of 2020, while Pennsylvania eclipsed the $70 million threshold for the first time. West Virginia also ended the year with the best month yet in the short history of the state's mobile casino industry. With Michigan and possibly other states launching online casinos next year, 2021 projects as an even bigger year than 2020 for the US legal online casino industry. Last year saw online casino operators generate record-setting revenue numbers. Those 2020 landmarks pale in comparison, however, to the 2021 figures for operator revenue and state tax collection., according to industry insider, bonus.com. Active gaming and tech companies in the markets today include: Esports Technologies (NASDAQ: EBET), Bally’s Corporation (NYSE: BALY), Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV), Genius Sports Limited (NYSE: GENI), Rush Street Interactive, Inc. (NYSE: RSI).
Bonus.com said: "The newest state to join the legal online casino industry, Michigan, debuted online casinos in January 2021. The Great Lakes State went over the $435 million mark in annual revenue at the end of June. As of June 2021, five US states offer legal online casino gaming. New Jersey, Pennsylvania, Michigan, West Virginia and Delaware stand at the forefront of the US mobile casino industry, and the success of those markets could prompt other states to launch online casinos in the future. New Jersey set a new US record for monthly iGaming revenue in July. Online casinos in the Garden State generated $118,638,577 in operator revenue for the month. Pennsylvania ($88,681,607 in July revenue) stayed right around the $88 million revenue mark for the second straight month, keeping its place as the nation's second-largest legal online casino market. After a revenue dropoff in June, Michigan's iGaming platforms rebounded to generate more than $83 million in revenue in July. Michigan's top-earning mobile casinos apps include BetMGM, FanDuel Casino and DraftKings Casino so far."
Esports Technologies (NASDAQ: EBET) - BREAKING NEWS – Esports Technologies Announces Definitive Agreement for the Acquisition of Aspire Global's B2C Business that Recorded $1.8 Billion in Wagering and $73.9 Million in Revenue in the Previous 12 Months – Esports Technologies, a leading global provider of advanced esports wagering products and technology, announced today the execution of a definitive agreement for the acquisition of Aspire Global's (STO: ASPIRE) B2C business in a $75.9 million transaction, including $58.3 million in cash, $11.7 million in a promissory note and approximately $5.9 million worth of common stock. The closing of the acquisition is subject to Esports Technologies' receipt of financing, as well as other closing requirements. The transaction is expected to close by November 30, 2021.
Under the terms of the deal, Esports Technologies will acquire Aspire's portfolio of B2C proprietary online casino and sportsbook brands, including Karamba, Hopa, Griffon Casino, BetTarget, Dansk777, and GenerationVIP. Strategically, Esports Technologies intends to utilize the multiple-brand acquisition to cross-sell esports wagering opportunities to increase its esports revenue, player bet transactions, and customers.
In the most recent 12-month period ending June 2021, Aspire Global's B2C revenue was $73.9 million and its EBITDA was $8.2 million. During the same period, the B2C business recorded wagering of $1.8 billion and over 1.3 billion bets.
Upon completion of the acquisition, Aspire and Esports Technologies will enter into an agreement where Aspire will provide four years of managed services for the acquired brands, ensuring operational continuity while allowing Esports Technologies to scale its operations in key markets.
Aaron Speach, CEO, Esports Technologies, said, "The acquisition of Aspire's B2C business will give us an opportunity to accelerate growth by offering esports wagering to 1.25 million new deposited customers. Our company is in a strong position to benefit from the heightened popularity and growing interest in esports."
Tsachi Maimon, CEO of Aspire Global, said: "Esports Technologies is a strong company with high growth ambitions and is a perfect match for our B2C brands. With Aspire Global's B2C brands, Esports Technologies gains leading, well-established brands, an excellent base for further growth and a very talented team that contributed to the B2C's growth. We are confident that Esports Technologies will take our B2C brands to the next level, and we welcome Karamba and the other B2C brands as our new partners." CONTINUED... READ THIS AND MORE NEWS FOR EBET BY VISITING: https://esportstechnologies.com/news/
In other entertainment and gaming recent news of interest:
Bally’s Corporation (NYSE: BALY) recently announced that it has acquired Telescope Inc., the leading provider of real-time audience engagement solutions for live events, gamified second screen experiences and interactive livestreams.
Telescope’s first-in-class products and services will amplify the Bally’s Interactive, Bally Bet and Bally Sports brands, enabling viewers and players to have an integrated experience that allows them to engage on a multitude of platforms and channels, including online and offline. By delivering customized and interactive content, as well as deeply engaging social experiences, Telescope will connect with Bally’scustomers in innovative ways, providing opportunities for Bally’s to attract a younger demographic and augment its loyal customer base.
Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV) News: The Women's Football Alliance recently announced it has partnered with the NFL Alumni Academy, as part of its Diversity Development program, and Hall of Fame Resort & Entertainment Company, to provide WFA coaches and players interested in a coaching career, the highest level of in-person coaches training at their prestigious NFL Alumni Academy during the 2021 NFL football season.
A key component of programming for the Hall of Fame Resort & Entertainment Company, the NFL Alumni Academy is an unprecedented in-season training program developing “NFL Ready” players. The Academy trains and prepares on the campus of Hall of Fame Village powered by Johnson Controls in Canton, Ohio. The Academy will train the top free agent football players in preparation to sign an in-season contract with NFL teams looking to replace 500+ active roster players lost during each season due to injury. A core tenet of the Hall of Fame Resort & Entertainment Company is to support diversity and inclusion across all fronts, and the Academy and the extension of this initiative and partnership with the WFA is a direct reflection of that initiative in action.
Genius Sports Limited (NYSE: GENI), the official data, technology and commercial partner that powers the ecosystem connecting sports, betting and media, has recently won a new official data and trading partnership with Golden Nugget Online Gaming, Inc. (GNOG).
Genius Sports established the global market for official data, which is sanctioned directly by the relevant sport's governing body. GNOG will be provided with Genius Sports' award-winning LiveData and LiveTrading solutions, delivering official data feeds and pin-point pricing across thousands of sporting events per year.
Included in this partnership is Genius Sports' leading portfolio of exclusive, official data rights, comprising the English Premier League, NASCAR, Liga MX, Argentine and Colombian soccer, Euroleague Basketball and NFL.
Rush Street Interactive, Inc. (NYSE: RSI) – As part of Responsible Gaming Education Week, Rush Street Interactive a leading online casino and sports betting company in the United States, recently became the newest partner of the American Gaming Association’s (AGA) Have A Game Plan. Bet ResponsiblyTM public service campaign.
The Have A Game Plan campaign focuses on educating sports fans about the core principles of responsible sports betting: setting a budget and sticking to it, keeping betting social, knowing the odds, and playing with trusted, regulated operators. Through its commitment to the campaign, RSI will integrate Have A Game Plan content into its consumer marketing, employee training, and overall responsible gaming strategy.
“Responsible gaming is at the core of our business and joining AGA’s Have A Game Plan campaign is an important extension of these efforts,” said Tammi Barlow, RSI director of corporate social responsibility. “It is crucial that our industry prioritizes the protection of those who are vulnerable to gambling problems and others affected by their behavior. Through this partnership with AGA, we will continue to provide our players with new, user-friendly tools and resources to wager responsibly, while ensuring our employees are positioned to provide the best possible customer service and care.”
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