..

Gambling and Sports Betting News Wire - October 25 2019

Written by:
C Costigan
Published on:
Oct/25/2019

Here are today's headlines in the world of gambling and sports betting as they happen - Friday October 25, 2019.


*6 weeks free trial - test drive - best in the biz
*Deposit with Bitcoin - They'll double it!
*Get your own domain, customized website, logo
*Switch in under an hour, earn mrore $$ for doing so
*Odds featured on DonBest.com
*Thousands of betting options daily + live in-play
*Easy and discreet payment options include gift cards
*Walmart gift cards also accepted
Start Earning Money From Your Sheet Here

Kambi on Track in US But Sees Slow Growth in Q3

Revenue came in at $25.5m versus $22.75m year-on-year, while operating profit was down to $3.77m against $4.66m for the corresponding period. Profit after tax was $2.55m compared with $3.66m year-on-year. The firm cited a solid financial performance, however, with 12% revenue and 23% operator turnover growth despite a quiet sporting calendar.

Among the key highlights of the update was Kambi’s signing of Penn National Gaming, the largest regional gaming operator in North America, and JACK Entertainment, a leading gaming entertainment brand in Ohio.

The firm also noted the completion of multiple customer launches, including seven casinos in the US and taking the first legal bet in New York as well as launching on the first day of regulation in Indiana and Iowa.

CEO Kristian Nylén said: “The third quarter is traditionally a challenging one for the sports betting industry, particularly in a year with no major summer football tournament. This, along with our ongoing investments to capitalize on the huge US opportunity, was the reason for the year-on-year decrease in operating result.

“However, despite the tough World Cup comparatives and a relatively quiet July sporting calendar, I’m pleased to report Kambi Q3 revenue grew 12% year-on-year while operator turnover increased 23%.”

Focusing on the US, he added: “We signed two new customers during the quarter, the first being Penn National Gaming, the largest regional gaming operator in North America. With market access to as many as 19 states, Penn National was always a key US target for us. In addition to the land-based establishments Penn National operates, the company has a sports betting philosophy that complements our own, which bodes well for a long and successful relationship.

“We also signed a deal with JACK Entertainment, which covers two retail establishments and an online offering in Ohio. A digital-savvy operator with a strong, local brand, JACK Entertainment is an operator we are excited about working with.

“Meanwhile, we also secured contract extensions with NagaWorld and DraftKings, the latter of which has already seen us enter a number of additional states as we build upon the partnership’s early success in New Jersey.

“Overall, there were multiple US customer launches to mention in Q3, with online or on-property launches taking place across the states of New York, Iowa, Indiana, Pennsylvania, New Jersey and West Virginia. Among those launches was Unibet, who made its US sports betting debut in New Jersey and then launched retail in Pennsylvania. Once again, this demonstrates our market leading US proposition based on our regulatory expertise and operational capability.”

 

Our Free Picks Record October 25

 

2019 NFL Record: 2-7 (0%)

2019 College Football Record: 3-2 (60%)

2019 MLB Record: 26-18-2 (59%) - No Plays Over -160

2018-19 College Basketball Record: 12-9 (57.1%)

2018-19 NBA Record: 7-5 (58%)

2018 MLB Record: 45-35 (56.2%)

2018 NBA Record: 12-4-1 (75%)

October 24, 2019

October 23, 2019

October 22, 2019

October 21, 2019

October 20, 2019

October 29, 2019

October 18, 2019

October 17, 2019

October 16, 2019

October 15, 2019

October 14, 2019

October 13, 2019

October 12, 2019

October 11, 2019

October 10, 2019

October 9, 2019

October 8, 2019

October 7, 2019

October 6, 2019

October 5, 2019

October 4, 2019

October 3, 2019

October 2, 2019

October 1, 2019

September 2019

August 2019

Gambling News

FanDuel Caught Violating Own Policy

FanDuel Caught Violating Own Policy

FanDuel sportsbook violated its own official sports betting rules last week when it voided proposition bets on an NBA player who played minimally in a game, but did not do so for another player in a similar situation.

BetFred Joins Forces With Vegas Golden Knights

BetFred Joins Forces With Vegas Golden Knights

“We're proud to be partnering with Betfred as they make their arrival here in Las Vegas,” said Golden Knights president Kerry Bubolz. “Betfred's US business is Vegas Born just like we are, and we're excited to help them launch their brand in Nevada.”

Syndicate