BoyleSports is making the final preparations for a launch of its online gaming operations in the Netherlands. To get it to the finish line, it has turned to gaming solutions provider Aspire Global.
BoyleSports wants to tackle the nascent iGaming market coming to the Netherlands. The largest independent retail bookmaker in Ireland will use Aspire Global’s turnkey online gaming platform to help make this a reality.
Aspire Global will deliver its main gaming 윈윈벳 platform, a portfolio of casino games, and its sports betting option to BoyleSports. In addition, AspireEngage, the company’s CRM solution, will provide additional marketing and customer support services.
We have in Aspire Global found the perfect partner who will support us with leading technology, exciting games and all the localized player support we need. This will enable us to focus on the player experience and branding of our new business in the Netherlands,” said BoyleSports CEO Mark Kemp.
BoyleSports will receive additional tools from Aspire Global, including all Dutch-speaking support and localized CRM promotions. Aspire Global will provide everything necessary for the compliant onboarding of Dutch players. It will also integrate solutions with major payment providers.
Aspire Global Continues to Find More Support
Aspire Global has seen its share of positive news recently. Only a few days ago, it received a license to operate its BtoBet platform in Denmark. The company first arrived in the Danish market in 2012 with an online casino market. Adding the BtoBet sports betting platform gives it more ways to service the industry.
In addition to its expansion in the Danish market, Aspire Global is active in countries around the world. It is in the US, Spain, Nigeria, Colombia, Mexico and others, with a total of 30 licensed jurisdictions in its portfolio.
That wide reach is part of the reason Aspire Global became a target of NeoGames. The online lottery technology and services company recently put a $480-million cash offer on the table.
The deal has already been approved by Aspire Global shareholders.
BoyleSports Expanding its Horizons
BoyleSports recently expanded its footprint in Ireland.
Last November, it agreed to purchase the remaining 10 sports betting shops operated by Tully Bookmakers. With that, the company now has over 350 retail shops in Ireland and the UK.
The addition of the Dutch market will give BoyleSports a wider reach that will allow it to continue to seek out new markets. It will operate in the Dutch market with its own license, which it intends to apply for shortly.
Wynn Resorts Unlikely to Unload iGaming, Sports Betting Biz, Says Analyst
The sports betting equities landscape was rattled yesterday. That’s after reports surfaced on Sunday that Wynn Resorts (NASDAQ:WYNN) is contemplating selling its Wynn Interactive unit at the deeply discounted price of $500 million. At least one analyst doesn’t see that happening.
The New York Post originally reported the speculation. But the gaming operator hasn’t publicly remarked because it doesn’t comment on market rumors. Morningstar analyst Dan Wasiolek believes it’s unlikely the casino company parts with its iGaming and sports wagering arm, particularly at a rock-bottom price.
Sources cited in a Jan. 24, 2021, New York Post article claim narrow-moat Wynn is looking to sell its WynnBet online sports betting business for around $500 million, which we view as a rumor and unlikely to be the case,” he said in a note.
The speculated $500 million price tag floated in the Post article appears nine months after Wynn reached an agreement with special purpose acquisition company (SPAC) Austerlitz Acquisition Corp. I (NYSE:AUS) to bring Wynn Interactive public at a $3.2 billion valuation.
“Therefore, the rumored $500 million price tag for WynnBet strikes us as low, and compares with the around $3 billion valuation the company and its prior partner, Austerlitz, set a year ago,” adds Wasiolek.
Sports Betting Opportunity Remains
One thing Wynn previously confirmed regarding sports wagering is that it’s unwilling to participate in the industry’s currently unfavorable economics.
Translation: Wynn won’t adhere to the template laid out by some competitors, which consists of lavish promotions and high marketing 레이스벳 spending to attract customers, because there’s little evidence to suggest that approach leads to profitability. In this environment, that’s likely a prudent approach, and it doesn’t mean the integrated resort operator is looking to jettison its digital gaming arm.
“While Wynn’s near-term de-emphasis on WynnBet investment might cause us to lower our near-term revenue forecast for the business, we still see the division representing a low-double-digit percentage of its total revenue by the middle part of this decade (around $1 billion in total sales),” notes Wasiolek.
The analyst adds domestic iGaming and sports wagering remains “a multi-billion revenue opportunity” that could generate double-digit earnings before interest, taxes, depreciation and amortization (EBITDA) margins for operators by the middle of this decade, assuming current levels of exorbitant marketing spending normalize.
Other Signs Wynn Interactive May Not Be for Sale
If Wynn Interactive is for sale, the parent company isn’t acting like it. For example, Wynn issued a statement earlier today, saying it’s starting pre-registration for the WynnBET app in Louisiana in anticipation of mobile sports betting launching there in the coming days.
Additionally, Wynn Interactive is waiting on final approval from the New York Gaming Commission to launch in that state.
Early data suggest New York is well on its way to becoming the US leader in mobile sports betting, indicating Wynn may not want to be hasty in abandoning its digital gaming unit before testing the waters in that state.
Connecticut Sports Betting Increases Problem Gaming Hotline Calls
Connecticut sports betting and online casino gambling debuted last fall. And as a result, state officials manning problem gaming hotlines say they’ve seen a considerable uptick in gamblers seeking help.
Diana Goode, the executive director for the Connecticut Council on Problem Gambling, says calls spiked 87 percent year-over-year in November — the first full month of legal online sports betting and iGaming. Speaking with the CT Mirror, Goode says NFL Sundays have been especially troublesome for new bettors.
Young people have been prone to gambling and wagering on sports far outside of what they can afford to lose, Goode said. The responsible gaming official detailed one college student who called to report gambling away nearly his entire bank account. His parents, who fund the account, went to the bank assuming their child’s nearly empty checking account was due to fraud.
People inside Connecticut have bet $325 million on sports since oddsmakers took the first retail sports bet, which was placed by Gov. Ned Lamont (D) on September 30. Online slots and table games have garnered an additional $2.3 billion worth of bets.
Funding Needed
Goode revealed that the council’s annual budget is just $750,000, which includes staff salaries, program funding, and marketing initiatives. Goode says much more is needed to adequately combat the rise in gamblers seeking assistance.
Connecticut’s two sovereign nations — the Mohegan and Mashantucket Pequot tribes — share 25 percent of their gross gaming revenue from slot machines with the state. They additionally direct 13.75 percent of their sports betting income and 18 percent of their iGaming win with the state.
All of that tax money is earmarked for Connecticut’s General Fund. Goode says at least some portion should go to her agency.
Anyone who has watched an NFL game recently is well aware of the bombardment of sportsbook advertisements clogging commercial breaks. Goode says more funding would allow the Connecticut Council on Problem Gambling to run its own spots locally to counter the gambling ads.
“Let’s make it a little bit more of a fair fight,” Goode said of DraftKings and FanDuel heavily advertising in the region. The two sportsbook and iGaming giants are respectively the third-party online gaming operators of Foxwoods and Mohegan Sun.
