The Reworked Legal Infrastructure is a Boon for Online Gambling Solutions

Mar 26, 2021 12:05 PM ET

Legal Newswire POWERED BY LAW.COM

The most significant boost to the online gambling industry is attributed to the usage of smartphones, which allow bettors to bet at anytime and anywhere. Additionally, innovative technologies such as Blockchain, Internet of Things (IoT) and VR are changing the intricacies in many fields, including gambling in an online casino. An increasing number of online events with large prize pools is now also expected to create new opportunities for players and betters alike. As for sports betting, the segment has majorly benefited from a continuously improving and friendlier legal infrastructure. For example, during last year's election, three states had measures on the ballot to legalize sports betting: MarylandLouisiana, and South Dakota. All three voted yes. 


As the legal infrastructure becomes more and more friendly towards sports betting across the country, announcements regarding investments in this sector have accelerated. For example, earlier in October, WynnBET, the digital gaming division of Wynn Resorts Ltd. that is responsible for Wynn's mobile sportsbook and casino app, announced a multi-year national sports betting partnership. As an Authorized Gaming Operator of NASCAR, WynnBET will collaborate with NASCAR to create and promote engaging sports betting experiences for racing fans across the United States.


Trident Acquisitions Corp. and Lottery.com, which entered into a definitive agreement with Trident Acquisitions Corp. on February 22, 2021, announced breaking news yesterday that it has, "entered into a binding agreement to acquire Mexican lottery companies JuegaLotto and Aganar to expand its operations to Mexico and throughout Latin America. JuegaLotto is federally licensed to sell international lottery games in Mexico through an authorized federal gaming portal and is licensed for games of chance in other countries throughout Latin America. Aganar is licensed to sell Mexican National Lottery draw games, instant win tickets, and other games of chance online with access to a federally approved online casino and sportsbook gaming license. The closing of the acquisitions is subject to standard closing conditions.


Latin America's estimated lottery market is approximately $9.8 billion ($9,800,000,000 USD) across 26 countries. The addressable market in the countries that JuegaLotto and Aganar cover includes 652 million people and potential customers.


"These acquisitions will mean significant inroads for Lottery.com throughout Mexico and Latin America as we expand our international operations, expand our portfolio of products, and expose our domestic products to new markets," said Lottery.com CEO Tony DiMatteo. "Their combined established presence and experience in the gaming industry further enhances our vision of being the premier global marketplace for games of chance."


The deals highlight Lottery.com's recent efforts to increase its international expansion and presence, and the combined entities have a federal license which allows them to provide official Pronosticos National Lottery games throughout Mexico. Together they have attracted 136,000 new players in the past 12 months. Furthermore, these acquisitions represent the very early stages of Lottery.com's long term strategy to enter into additional international markets, both through partnerships and M&A.


More information about JuegaLotto and Aganar can be found at their respective websites, https://juegalotto.com/ and https://aganar.com.mx/


'The combination of our experience, our products, and gaming licenses in Mexico and Latin American in union with the impeccable brand of Lottery.com is an obvious win and we are ecstatic to grow together in the region,' said JuegaLotto CEO Luis Carlos Leal. 'Mexico, recently regulating this market, is among the most important markets in Latin America and we are looking forward to being a part of Lottery.com's ongoing vision, international expansion, and execution.'


'The focus on growth and bringing additional companies and distribution partners into the fold is a key driver for Lottery.com, and I am confident that our platform, and my experience in the lottery industry, will accelerate this momentum even further,' commented Nour-Dean Anakar, representative of Aganar, with 25 years of experience leading the gaming industry including as CEO and managing director Ladbrokes South America, Hilton International Gaming Operations for South America, and CEO of Digital Orchid, the first company in Mexico to establish online and mobile regulated national lottery games.


On February 22, 2021, the Company entered into a definitive agreement with Trident Acquisitions Corp. to become a publicly traded company on The Nasdaq Stock Market. In anticipation of Lottery.com completing both of the JuegaLotto and Aganar acquisitions before its business combination with Trident, the business combination investor presentation was delayed to allow the inclusion of these potential assets and was filed by Trident today on a Current Report on Form 8-K with the U.S. Securities and Exchange Commission ("SEC") available publicly on the SEC's website at www.sec.gov and also posted to Trident's website."


For our latest "Buzz on the Street" Show featuring Lottery.com recent corporate news, please head over to: https://www.youtube.com/watch?v=CA_8H-917Vw


Caesars Entertainment, Inc. and William Hill PLC announced on September 30th that they have reached agreement on the terms of a recommended cash acquisition pursuant to which Caesars will acquire the entire issued and to be issued share capital of William Hill for approximately GBP 2.9 Billion.  "The opportunity to combine our land based-casinos, sports betting and online gaming in the U.S. is a truly exciting prospect," said Caesars Entertainment CEO Tom Reeg. "William Hill's sports betting expertise will complement Caesars' current offering, enabling the combined group to serve our customers in the fast-growing U.S. sports betting and online market. We look forward to working with William Hill to support future growth in the U.S. by providing our customers with a superior and comprehensive experience across all areas of gaming, sports betting, and entertainment."


Wynn Resorts Ltd. , subsidiary WynnBET announced on March 5th, that it has been issued a permit for the operation of online sports betting in the Commonwealth of Virginia. The WynnBET mobile app will soon be made available to sports betting enthusiasts for registration and use throughout the state.  In addition, WynnBET is an Authorized Gaming Operator of NASCAR and the Official Online Sportsbook of Martinsville Speedway and Richmond Raceway, and will soon be launching its sports betting applications in the Commonwealth. "We appreciate the confidence the Virginia Lottery has in our ability to deliver a world-class, online betting experience for the people of the Commonwealth of Virginia," said Craig Billings, President of Wynn Resorts. "We value our close relationship with NASCAR and look forward to creating a new and exciting online betting offering for NASCAR fans."


Golden Nugget Online Gaming, Inc.  announced on February 24th, that it entered into a definitive agreement with Tioga Downs Race Track, LLC. ("Tioga Downs") for future online gaming market access in the state of New York, subject to legislation, regulatory approval, license eligibility and availability. "Tioga Downs is excited to partner with one of the best performing online gaming operators in the US. GNOG has one of the most experienced online teams, a historied US casino brand and a proven track record in our neighboring state of New Jersey," said Tioga Downs owner Jeffery Gural, adding "I'm confident GNOG will bring an exciting product to my home state of New York and together we will generate excellent new revenue streams for GNOG, Tioga and the state of New York."


Everi Holdings Inc.  online gaming division, Everi Digital announced on January 22nd, that it is now delivering its iGaming content in the state of Michigan through multiple online casino operators via its proprietary Remote Game Server (RGS).  "Everi is excited to now offer in Michigan our high-performing game content that is popular with players in land-based casinos and has become a proven performer with our other iGaming partner-operators," said David Lucchese, Executive Vice President of Sales, Marketing, and Digital for Everi. "Online players enjoy the slot experience of our games, and our new partnerships in Michigan demonstrate our focus on expanding our Digital gaming business to provide our world-class slot games to the continuously growing community of online players."


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