FN Media Group Presents Microsmallcap.com Market Commentary
New York, NY – January 28, 2021 – When it comes to online gaming, a shift in attitude towards betting is underway, leading to projections of the US sports betting market hitting US$3 billion in 2021. The advent of legal online sports betting is rippling across several markets, with five more states looking to legalize this year. As new seasons are underway in both the NBA and NHL, it appears that the pains of last season’s adjustments are behind the pro sports leagues, and ratings are on the rise. With the rising interest in pro sports, the betting markets are seeing a surge, which is aiding several online gaming tech companies, including Bragg Gaming Group (TSXV: BRAG) (OTCQX: BRGGF), DraftKings Inc. (NASDAQ: DKNG), Penn National Gaming (NASDAQ: PENN), 888 Holdings (OTCPK: EIHDF), and Boyd Gaming (NYSE: BYD).
It’s not just the United States that’s seeing a sports resurgence. Via its market-leading subsidiary ORYX Hub platform, Bragg Gaming Group (TSXV:BRAG) (OTCQX:BRGGF) announced the launch of RGS services for European sports betting and casino operator Betway.
“We’re delighted to see our partnership with Betway go live and our titles are going to offer a new dimension of content to their players,” said Matevz Mazij, Managing Director of ORYX Gaming. “Our RGS content has already been proven strong in Germany and beyond, and this partnership will further strengthen the reach and reputation for both our companies.”
Prior to the Betway announcement, Bragg Gaming also struck a deal to enter the Netherlands, through Dutch land-based operators JVH Gaming & Entertainment Group. The agreement includes an integration with leading global sports betting provider Kambi Group.
“The Dutch online gambling market becoming regulated has been some time coming and we are excited about the opportunities now lying ahead,” said Eric Olders, CEO and Chairman at JVH. “We’re confident that with ORYX’s experience and the quality of their products, we will be able to offer our customers the best level of service and an unrivalled player experience. They have a great team and we look forward to partnering with them as one big team.”
After an exceptional 2020 full of client launches, the Netherlands and Germany are the latest regulated market entries for ORYX. ORYX’s content is certified or approved in 18 other regulated markets.
The last 12 months were especially positive for Bragg Gaming Group, which included exceptional revenue growth of 72% in Q3 2020. This momentum gave Bragg the push needed to graduate to the main board, the Toronto Stock Exchange, where it started trading on January 27, 2021.
“Bragg is well on its way to becoming a global leader in the online gaming space,” said Paul Godfrey, Board Member at Bragg Gaming. “The listing on the TSX will generate increased awareness among institutional and global investors and will put the Company squarely in the sights of major industry analysts. As the global online gaming industry continues to expand at an exponential rate, investors are looking for companies with the technologies and expertise to lead the way, and Bragg is a prime example.”
Bragg wasn’t the only group to enjoy a prosperous 2020, and play off of the momentum.
When it comes to sports betting, DraftKings Inc. (NASDAQ:DKNG) stands out as a pure-play sports betting company that has achieved a household name status.
Morgan Stanley is projecting that DraftKings Inc. could beat revenue estimates by 25% over the next 4 years.
“While stay-at-home tailwinds likely helped, the strength in iGaming has extended well beyond the early casino closures, suggesting acquired customers will continue playing and sports betting revenues beat our 4Q expectations despite a weaker sports calendar,” wrote Allen wrote in a note shared by Benzinga.
Allen sees launches and approvals in Arizona, Connecticut, Kansas, Kentucky, Louisiana, Massachusetts, Maryland, Ohio, Oklahoma, South Dakota, Texas, New York, and Ontario as catalysts for this.
After the death of former Chairman Sheldon Adelson (a long-time opponent of online gaming), Las Vegas Sands now appears to be considering the takeover of 888 Holdings (OTC:EIHDF). It’s clear that with Adelson no longer at the helm, his former deputy Rod Goldstein is taking the lead on potential new expansion into online sports betting, and the potential 888 deal is an indication of this shift.
Wholly-owned subsidiary 888 Sport has been seen as a perfect sports betting addition to the parent company’s network of online poker and online casino games. Reviews of its user friendliness and responsiveness have been overwhelmingly positive, including living up to the claim of being one of the best mobile betting apps in the business. By adding 888 to its roster, Las Vegas Sands could potentially make one of the biggest splashes in the industry.
Getting out ahead into the online sports betting market, Penn National Gaming (NASDAQ:PENN) turned heads when it partnered with Barstool Sports to launch sportsbook offerings for new markets.
Most recently, the duo launched their sportsbook mobile app and iCasino products in the state of Michigan, after the Michigan Gaming Control Board approved the applications.
Another recently launched sportsbook platform is B Connected Sports from Boyd Gaming (NYSE:BYD). The mobile app allows the ability to bet on all professional and collegiate sports, among other features. However, at this time, the app is only available for users in Nevada.
Though the rollout of B Connected is still in a relatively early stage, Boyd Gaming has retained a 5% stake in the popular FanDuel brand, which Flutter Entertainment just paid $4.2 billion to increase their majority stake in.
As fantasy sports and sports betting gains in popularity among the big players like those mentioned above, companies like Bragg Gaming Group stand in the spotlight as an already established and growing player in the industry.
Disclaimer: Microsmallcap.com (MSC) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM) is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with MSC or any company mentioned herein. The commentary, views and opinions expressed in this release by MSC are solely those of MSC and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable MSC and FNM for any investment decisions by their readers or subscribers. MSC and FNM and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.
The Article and content related to the profiled company represent the personal and subjective views of the Author (MSC), and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author (MSC) has not independently verified or otherwise investigated all such information. None of the Author, MSC, FNM, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer’s filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including, but not limited to, the complete loss of your investment. FNM was not compensated by any public company mentioned herein to disseminate this press release but was compensated twenty five hundred dollars by MSC, a non-affiliated third party to distribute this release on behalf of Bragg Gaming Group
FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MSC and FNM undertake no obligation to update such statements.
FN Media Group, LLC