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What Are Penn National Gaming (Png) And Why Should You Know About Them?

February 22, 2024 William Mcmaster

Penn National Gaming (abbreviated as PNG) is a fast-rising gaming company in the United States. Recently, PNG has achieved some remarkable feats for itself. First, PNG established a content studio called Penn Game Studios. This is a studio consisting of in-house content development individuals.

This team is focused on creating iGaming content that is exclusive to its customers. This achievement has also moved PNG to purchase HitPoint Studios and its sister real money gaming company called LuckyPoint. These studios are expected to close in the near term, subject to their customers being satisfied with the conditions (Casino Beats, 2021).

They stated that the reason for acquiring the Massachusetts-based gaming studio is to draw customers to their exclusive online games thereby boosting brand loyalty (Rose, 2021). With this acquisition, the shares of PNG increased by 1.51% totaling $90.47 as of the 3^rd of May, 2021 (Market Watch, 2021).

This is a piece of great news to online gamers in the United States. But for those people who are still contemplating on whether to join this emerging company because they are unsure of their credibility, let me tell you about PNG…

About Penn National Gaming

Penn National Gaming Inc. is a gaming company that owns and manages racing and gaming facilities. They also manage video gaming terminal operations focusing on slot machine entertainment (Forbes, 2021). They have ownership interests in 41 gaming and racing properties present in 19 states.

Some of the states where PNG properties are located are Illinois, Colorado, Iowa, Indiana, Mississippi, Michigan, West Virginia, and Pennsylvania. Their operations involve different business segments. They are the Northeast, Midwest, South, and West. These segments consist of various properties scattered across the United States.

The PNG headquarters is based in Wyomissing, Pennsylvania. Their operation is done in over 43 facilities around the United States and Canada, but many of them are within the brand Hollywood Casino. In November 2013, Penn National Gaming established a sister company called Gaming and Leisure Properties.

PNG’s Stake on Barstool Sports

Penn National Gaming manages and controls a 36% stake in a company called Barstool Sports. Barstool Sports is a leading digital sport, lifestyle, entertainment, and media company. This was done in the year 2020.

PNG also officially launched the Barstool Sportsbook app and products in the cities of Pennsylvania, Illinois, and Michigan. This launching enables PNG to leverage the Barstool brand and marketing engine thereby driving a meaningful market share (pngaming, 2021).

PNG also introduced the Barstool Sports products across their leading customer loyalty program called mychoice. At the moment, they have over 20 million casino customers and Barstool loyal fans of over 66 million people. PNG has continued to be dynamic in its strategy. It changes from having an owner and manager of racing and gaming properties to becoming an omnichannel provider of retail and online gaming, sports betting entertainment, and live racing.

Conclusion

PNG has continued to grow and expand over the years, they have varieties of properties across the United States totaling about 48,000 gaming machines, 8,800 hotel rooms, and 1,300 table games. Also, PNG operates an interactive and entertaining gaming division across its various subsidiaries.

Penn Interactive Ventures, LLC, which is a subsidiary of PNG, launched a casino called iCasino in Michigan and Pennsylvania. They also own and operate online sports betting in the cities of West Virginia, Indiana, Iowa, and Pennsylvania (pngaming, 2021).

Penn National Gaming

What is the net revenue of PNG?

As of 2017, PNG records a revenue of about $3.1 billion (pngaming, 2021).

What is the market capitalization of PNG?

According to Forbes, PNG currently has a market capitalization of about $14.31 billion (Forbes, 2021).

References

Pngaming (2021). Penn National Gaming Inc. About Penn National Gaming, Inc.
About Us | Penn National Gaming (pngaming.com)
Market Watch (2021). Penn National Gaming Inc. stock rises Monday, outperforms the market. Market Watch Automation. 3^rd May 2021.
www.marketwatch.com
Casino Beats (2021). PNG acquires HitPoint Studios & LuckyPoint amid in-house focus. 4^th May 2021.
https://www.casinobeats.com/2021/05/04/png-acquires-hitpoint-studios-luckypoint-amid-in-house-focus/
Forbes (2021). Penn National Gaming (PENN). 5^th May 2021.
https://www.forbes.com/companies/penn-national-gaming/?sh=163f08f77c8d
Rose (2021). The Business Journals. Penn National to launch new Barstool Sports products after acquiring a game developer. 3^rd May 2021. https://www.bizjournals.com/philadelphia/news/2021/05/03/penn-national-gaming-acquires-dev-in-house-studio.html

Caesars Entertainment Acquires William Hill Plc For A Whooping £2.9 Billion

February 22, 2024 William Mcmaster

Caesars Entertainment has made a big statement in the US casino and sports betting industry. They have done this by completing the acquisition of William Hill Plc for money valued at £2.9 billion (equivalent to about $4 billion) (Barber, 2021). This is a big statement because Caesars Entertainment has acquired one of the world’s leading betting and gambling companies in the US. This also gives them the ability to maximize the opportunity present within sports betting and online gaming in the United States. You have to be excited if you are an online gamer!

Reason for the Acquisition

Caesars Entertainment came out with a statement claiming that the reason for the acquisition is to bind its casinos ever closer to the fast-growing legal sports betting in the United States (Parry, 2020). They also indicated that they were interested in the company’s U.S. assets, and admitted that it would sell off William Hill’s assets in the United Kingdom and other countries. They announced that they would purchase all the shares of William Hill totalling about 1.08 billion and the shares would be sold at £2.72 apiece (Fletcher, 2021).

The CEO’s Statement

The statement was announced by the CEO of Caesars Entertainment named Tom Regg. He stated “The opportunity to combine our land-based casinos, sports betting, and online gaming in the US is truly an exciting prospect. We look forward to announcing future sports partnerships that will drive growth on a long-term basis”. He continued by saying “William Hill’s sports betting expertise will complement Caesars’ current offering, enabling the combined group to better serve our customers in the fast-growing US sports betting and online market” (Parry, 2020).

The Chairman’s Statement

The chairman of William Hill, Roger Devlin, also came out with a statement to confirm the deal. He said in a statement “The William Hill board believes this is the best option for William Hill at an attractive price for the shareholders. The board recognizes the significant progress the William Hill Group has made over the last 18 months, and also the risks and significant investment required to maximize the US opportunity given the tough competition in the US betting industry and the potential for regulatory disruption in the UK and Europe”. (Parry, 2020) (Barber, 2021).

Regulations

Both Caesars Entertainment Inc. and William Hill Plc currently operate sports betting in 18 jurisdictions across the United States. Of these 18 states, 13 offer mobile sports betting. The new company is expected to be operational across 20 jurisdictions in the US by the end of 2021 (CISION PR Newswire, 2021).

Impact of this transactional deal on the casino and online betting industry

This deal will not affect how bettors will be able to place bets or what type of bet is offered. But, the deal will lead to the expansion of the brand which allows more online betting sites to emerge in States where online wagering is legalized by the Government.

This transactional deal will provide a positive impact on the US betting and gaming industry. This is because Caesars Entertainment Inc. will further expand the reach of Caesars Rewards. They will do this by providing William Hill members access to Caesars’s industry-leading loyalty program. This will include the ability to earn tier status that will be used at the Company’s online and land-based properties.

This transactional deal will also enable the company to further enhance its services to customers by providing a single-wallet offering of sports betting and online gaming products across the enterprise in the future (CISION PR Newswire, 2021).

About Caesars Entertainment Inc.

Caesars Entertainment Inc. (also known as NASDAQ: CZR or ‘Caesars’ of the company) is regarded as one of the largest casino entertainment companies present in the United States. It is also one of the world’s most diversified gaming entertainment providers. Its inception was in the year 1937 in the city of Reno (Nevada). Over the years, Caesars Entertainment has grown through the development of new expansions, resorts, and acquisitions.

Caesars Entertainment’s resorts operate primarily under different trademarked brand names. Some of them are Caesars®, Horseshoe®, Harrah®, and Eldorado®. They also offer diversified amenities each having unique destinations. These amenities are established with a focus to build loyalty and value with their guests through a unique combination of operational excellence, impeccable service, and technology leadership. Caesar Entertainment Inc. always shows commitment to its suppliers, employees, communities, and the environment through a framework. This framework is called the People Planet Play.

Caesars Entertainment Acquires William Hill Plc FAQ

Who were the law firms that represented both companies in the transactional deal?

Caesars Entertainment was represented by Deutsche Bank, Linklaters LLP, and Latham & Watkins; while William Hill was represented by Barclays Bank PLC, Slaughter & May, PJT Partners, and Citigroup Global Markets Limited (CISION PR Newswire, 2021).

Was there any other firm also interested in acquiring William Hill Plc?

Answer: Yes, a private equity firm called Apollo Global Management Inc. showed interest in acquiring William Hill. But it remains to be seen if they would acquire part of their European asset (Parry, 2020).

References

Parry Wayne (2020). Caesars entertainment buys bookmaker William Hill for $3.7 billion. AP News. 30 September 2020. https://apnews.com/article/atlantic-city-archive-united-kingdom-sports-betting-c0eea070009b7628c5d142ccae563770
Fletcher Robert (2021). Caesars completes the £2.9 billion acquisition of William Hill. iGaming Business iGB. 22^nd April 2021. https://igamingbusiness.com/caesars-completes-2-9bn-acquisition-of-william-hill/
CISION PR Newswire (2021). Caesars Entertainment Announces Completion of William Hill PLC Acquisition. Caesars Entertainment. 22^nd April 2021. https://www.prnewswire.com/news-releases/caesars-entertainment-announces-completion-of-william-hill-plc-acquisition-301274863.html
Barber Bill (2021). Court clears William Hill’s £2.9 billion takeovers by US casino giant Caesars. Racing Post. 20^th April 2021. https://www.racingpost.com/news/court-clears-william-hills-29-billion-takeover-by-us-casino-giant-caesars/485493

UK Giant Super Group is Aiming for the US iGaming Market

February 22, 2024 William Mcmaster

Super Group, which is the parent company of online bookmaker, Betway is finally breaking into the US market. The UK-based group announced this after completing a merger with a blank-check acquisition firm called Sports Entertainment Acquisition Corp (SEAH.N) (Wrex, 2021). This merger is valued at a whopping deal of about $5 billion. This is a lot of money being invested into the US market.

Asides from this, Betway also announced that it had acquired Digital Gaming Corp, tapping the online sports betting and gaming market in 10 states of the US. This is a piece of great news to betters residing in the Sports Entertainment Acquisition Corp United States as Betway is one of the most renowned betting companies in Europe. Also, it will have a great impact on the US market because of the popularity and ambitions it will bring along.

About Super Group (Betway)

In case you have not heard about Super Group, let me introduce them to you…

Super Group is a holding company that has several gambling brands (including Betway). They own both online casino brands and sports betting brands. And in terms of the license, the group is licensed in 23 jurisdictions around the world. They are also operating in over 20 countries including the likes of Brazil, South Africa, Nigeria, UK, amongst others (Allen, 2021).

In terms of monetary value, the Super Group brand is one of the biggest brands bringing in enormous revenues every year. So, you should rest assured that they are bringing all this money to the US market. This year, Super Group has projected a revenue of about $1.5 billion with $350 million in EBITDA. They also affirmed that they took in more than $42 billion in wages over the past 12 months. That is a lot of money! They also boast over 2.5 million monthly unique active customers.

Betway which is under Super Group has more than 60 brand partnerships with leagues, teams, and sports personalities. Some notable ones are two basketball teams playing in the NBA which are Los Angeles Clippers, Chicago Bulls, Golden State Warriors, Brooklyn Nets, amongst others (Business Wire, 2021).

Super Group’s US Plan

But how does this group plan on breaking into the US market?

As part of the transactional deal SuperGroup made with Sports Entertainment Acquisition Corp, the group will enter the US sports betting market by acquiring a company called Digital Gaming Corporation (DGC). DGC will then have the exclusive right to use the Betway brand in the United States. This will also give them access to the market coming from online sports betting as well as gaming. The deal will begin starting from 10 US states. Some of these states include New Jersey, Pennsylvania, Iowa, Indiana, amongst others (Allen, 2021).

From this transaction, Super Group is valued at $4.75 billion. This deal will provide $450 million in cash and this money is coming from the Sports Entertainment Acquisition’s trust funds (Deter, 2021). After closing, Super Group will have $200 million in cash available on its balance sheet. The Super Group stock will trade on the New York Stock Exchange under the ticker symbol SGHC. (Deter, 2021). This large stock that will be traded by Super Group will surely have a huge impact on the US stock exchange market.

Impact of Betway on the US market

What impact will Betway collaborating with DGC have on the US market?

Before this announcement, the Betway brand was yet to make any significant inroads into the fledgling US betting market. But thanks to the cooperative effort between them and DGC, they can not only break into the US market but will positively impact the betting market. This is because some US states are beginning to deregulate online sports betting and casino gaming whereby only online sports betting is allowed. Examples of these states include Illinois and Indiana.

This has created a gold rush between online betting companies to stake a claim on the US market. This will play to the advantage of Betway because of the transactional deal with DGC (which is a gaming company). This means they can provide gaming services in the states that it’s allowed, and also provide online betting services in the states that it’s allowed, and offer both services to the states where both are allowed. This is a major profit margin that will be raised which will boost the US market value (Yogonet, 2021).

Super Group FAQ

Is West Ham United sponsored by Betway?

Yes, Betway proudly sponsors West Ham United (a football team, currently competing in the English Premier League.

Who is the CEO of Super Group?

The CEO of Super Group is Neal Menashe. He is the person that announced this deal.

References.

Business wire (2021). Super Group to Combine with Sports Entertainment Acquisition Corp. to create NYSE-Listed Global Company. https://www.businesswire.com/news/home/20210425005014/en/Super-Group-to-Combine-with-Sports-Entertainment-Acquisition-Corp.-to-Create-NYSE-Listed-Global-Gaming-Company
Yogobet (2021). Betway has sights set on the growing US betting market. 23^rd April 2021. https://www.yogonet.com/international/noticias/2021/02/23/56600-betway-has-sights-set-on-the-growing-us-betting-market?amp
Deter Amber (2021). Super Group (Betway) IPO: Sports Betting Parent Company to go Public. Investment U. 26^th April 2021. https://investmentu.com/super-group-betway-ipo/?amp
Allen Brad (2021). Global Gambling Giant Listing in NY via a $5 Billion SPAC deal. Legal Sports Report. 27^th April 2021. https://www.legalsportsreport.com/51055/betway-listing-in-us-via-spac/
Wrex (2021). UK firm Super Group entering US Sports, online casino market. 27^th April 2021. https://wrex.com/2021/04/27/uk-firm-super-group-entering-us-sports-online-casino-market/

The Future of Gambling in Arizona – Will They Legalise Online Gambling?

February 22, 2024 William Mcmaster

Given its proximity to Nevada, the world’s hub of gambling, one would expect that Arizona would embrace gambling full-on but that’s not exactly the case.

Residents of the Valley of the Sun state are very much interested in gambling, as is seen in the state’s lottery system which is the most popular in the United States of America. Nevertheless, the state is gambling-friendly to a large extent with some legal gambling activities that keep players engaged and generate revenue for the state.

Some of the legal forms of gambling in Arizona are casino gaming, lotteries, and dog and horse racing. Most of the land-based casinos in the state are tribal casinos. Internet gambling is also popular in other US states and legal in some but, there are no strict laws addressing this in Arizona.

Change in Arizona

Thankfully, this year saw the most significant improvement in Arizona’s online gambling space in almost two decades. Governor Doug Ducey, the current state governor, signed agreements with the native tribes, legalizing sports betting, daily fantasy sports, keno, and mobile sports. This agreement also lets existing tribal casinos in the state expand their game offerings by including more table games and permits the creation of new ones in metropolitan Phoenix.

Based on the agreement, the sports betting licenses will only be issued to tribal gambling operators and Arizona-based sports teams. Betting on college teams will be permitted but no prop bets will. The Keno games will also be hosted on horse race tracks and in their fraternal organizations only.

What can we hope for?

The last compact update before this was seen in 2003 and the negotiations that birthed these new adjustments lasted for five years. More progress is expected to be made in the state such as the introduction of licensed online poker rooms and online casino sites. This may take a while but this recent development has created hope that Arizona gamblers can hold on to.

The future of gambling everywhere in the world is online and Arizona is not left out here. There aren’t many indications to show that this is something that could happen anytime soon but it is inevitable. The internet has made gambling more accessible and online gambling itself has become a massive global market. The total revenue generated by the global online gambling space alone in 2019 was USD 53.7 billion. As a result, more governments are becoming more open to exploring this aspect of gambling.

Keep your eyes open…

If you’re an Arizona resident, this is certainly something to look forward to with more options to choose from and more opportunities to win, right from the comfort of your home. While you wait, explore as many legal options as you want, maximizing available chances to cash out in the state. The future just may be closer than you think!

NFL Announce New Deal with USA Betting Companies

February 22, 2024 William Mcmaster

The National Football League Nfl Professional American Football

The National Football League has agreed to deals with three huge USA gambling companies to become sports betting partners. The league announced that it has signed three-year deals with Caesars Entertainment, DraftKings, and FanDuel, allowing the companies access to all NFL trademarks.

They will also be able to create their betting content and integrate them into media properties such as the NFL website and official app. The announcement stated that the partnership deal will run for three years, with the NFL holding the option to add a couple of one-year extensions.

According to Renie Anderson, the chief revenue officer and executive vice president of NFL Partnerships, “As the sports betting landscape has continued to evolve in the United States, we have been thoughtful with our strategy and are excited to announce three partners who share the NFL’s vision and goals. Working closely with Caesars, DraftKings, and FanDuel, we will provide fans new and different ways of interacting and engaging with the sport they love.”

Details of the Newly Announced Deal

The fine print of the deal was not announced, but it is understood that the three companies involved will have exclusive access to the use of the NFL logo and team insignia on their websites. The NFL has also announced that it will permit gambling advertisements to be broadcast this season.

Apart from the common terms that each company will have shared access to, the three companies involved in the new deal will have individual rights allotted to them exclusively. Caesars will be allowed to create activations at two major 2022 NFL events set to be held in Las Vegas – the Pro Bowl and the Draft.

FanDuel will get access to video footage as well as work with the league on pregame integration on the seven regular-season games that will be shown on the NFL Network in 2021. DraftKings will see its rights as the NFL’s official daily fantasy partner renewed.

Excitement Around the New Deal

The CEOs of FanDuel, Caesars, and DraftKings all offered glowing optimism about the future of the deal their respective companies have reached with the NFL. “Football season will be more exciting than ever now that fans can enjoy an enhanced experience at our casinos, in our sportsbooks, and online,” Tom Reeg, Caesars CEO said.

His counterpart at FanDuel, Matt King, speaking in reference to DraftKings’ Super Bowl advert, said “On Super Bowl Sunday, we got a glimpse at how powerful the combination of the NFL’s excitement and our platform can be in delivering an enhanced fan experience.”

Jason Robins also offered similar views. The CEO, chairman, and co-founder of DraftKings stated that “The way fans consume sports years from now will look drastically different, and it will be due in part to forward-thinking collaborations like our expanded relationship with the NFL.”

The league has also announced that it has plans to partner with operators at the low-tier level soon. The new deal includes a massive $1 billion in earnings for the NFL if the terms are completed, and it is certainly a big deal for all the parties involved. But it is perhaps an even bigger deal for football fans and sports bettors who are now seeing two of their favorite organizations combine on such massive scales.

Sources:

https://www.sportspromedia.com/news/nfl-sports-betting-sponsor-draftkings-fanduel-caesars-fox-bet
https://abcnews.go.com/amp/Sports/wireStory/nfl-inks-sports-bet-deals-caesars-fanduel-draftkings-77107749

Resident From IN & PA Can Get a $100 Free Bet on March Madness!

February 22, 2024 William Mcmaster

The 2021 March Madness has been unlike any other we’ve seen before, with all games played in the same state. Many features of the world-famous college basketball knockout tournament remain consistent, however. The usual suspects have blasted through the rounds towards the later stages, and followers haven’t been short on upsets either.

One of the biggest shock results in recent times came in the previous round of March Madness when UCLA rallied to knock number one ranked Michigan out of the running. Very few pundits predicted that one, but it likely wouldn’t be the last surprise result.

March Madness is down to the final four teams who battle it out on Saturday for a place in Monday’s final. Houston Cougars meet Baylor Bears, then UCLA Bruins aim to continue the fairytale against Gonzaga Bulldog.

Are you planning on placing a bet on the upcoming matches? And do you feel like you haven’t witnessed enough madness yet? Then we’ve got a special treat for you, only for our sports fans of CompareCasino based in either Pennsylvania or Indiana:

Online sports betting giant Unibet offers customers the chance to earn a stunning $100 free bet before the final.

Here’s how you get it done:

Open an account at Unibet through the exclusive link on this page.
Place a bet of $20 or more on any of the semi-finals.
And here comes the kicker: if there is a dunk scored in either match, you will bag a $100 free bet. Your free bet will be rewarded regardless of who wins, as long as the game has at least one dunk scored.

This promotion gives backers an extra chance to celebrate. One cheer for your winning bet and one for the dunk that nails you the $100 free bet.

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