Financing News

PENN Entertainment to relocate Illinois riverboat casinos to land

PENN Entertainment has confirmed plans to relocate two riverboat casinos in Illinois to new land-based facilities, and to build new hotels at two of its best-performing properties in Ohio and Nevada.

The four new growth projects cover the relocations of Hollywood Casinos in Aurora and Joliet, which will include a Barstool [...]

1 min read

Xpoint looks to accelerate growth with new funding round

Miami-based geolocation technology provider Xpoint has received a multi-million dollar round of investment funding to support its continued growth in North America and worldwide.

The financing round includes new investments by Acies Investments, The Raine Group and SuRo Capital Sports, joining existing investors Bettor Capital and Courtside Ventures, both of which [...]

1 min read

AUSTRAC opens investigation into Entain’s AML compliance

Australia’s financial intelligence agency is launching an enforcement investigation into Entain Group’s compliance with anti-money laundering (AML) regulations.

The Australian Transaction Reports and Analysis Centre (AUSTRAC) said Monday that it is launching the investigation after conducting an extensive supervisory campaign that assessed entities within the corporate bookmaking sector.  

AUSTRAC provided no further [...]

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Lottery.com directors and chief legal officer tender resignations

Nasdaq-listed Lottery.com has lost three board members in a dispute over future funding, with company secretary and chief legal and operating officer Kathryn Lever also tendering her resignation.

The exodus is in response to a proposed $52.5m investment in the company by Woodford Eurasia Assets, which the former directors say was [...]

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Yolo Investments acquires stake in Betegy

Tallinn-based venture capital fund Yolo Investments continues to expand its iGaming portfolio, this time through a multi-million Euro investment in sports data technology provider Betegy.

The non-controlling stake will be used to drive the next stage of Betegy's global expansion, with the supplier's data-driven service currently used by the likes of [...]

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LiveScore Group targets growth after £50m investment from Ringier

London-based sports media and betting operator LiveScore Group is looking to expand its global presence after securing a £50m strategic investment from Swiss media giant Ringier.

The landmark partnership will see Ringier invest in LiveScore Group’s growing business, which currently comprises sports data provider LiveScore and licensed operators LiveScore Bet and [...]

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Bragg Gaming secures $8.7m funding from Lind Partners

Online casino games supplier Bragg Gaming has secured US$8.7m in funding from New York-based institutional fund manager The Lind Partners.

The funding from Lind Global Fund II will come in the form of a $8.7m convertible security, which will have a face value of $10.0m.

Bragg will receive net proceeds of approximately [...]

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Brazil aims to combat illegal websites with payment blocking bill

Financial transactions with unlicensed online gambling operators will be prohibited under a new bill introduced in Brazil last week.

The payment blocking proposal is aimed at illegal online gambling websites in Brazil, as well as sites featuring underage pornography.

The draft bill before the House of Representatives would see the Central Bank [...]

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IGT and DoubleDown Interactive agree $415m settlement

International Game Technology (IGT) has reached a preliminary agreement to settle a class action lawsuit against the company and its former social gaming subsidiary DoubleDown Interactive.

The case dates back to April 2018, when the US Court of Appeals for the ninth circuit ruled that free-to-play social casino games constitute illegal [...]

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Gaming Technologies issues warning as cash reserves evaporate

iGaming supplier and operator Gaming Technologies has warned that it may not be able to continue as a going concern after cash reserves fell to zero at the end of the second quarter of the year.

Gaming Technologies (Gametech) operates the vale.mx iGaming brand in Mexico under a revenue share partnership [...]

1 min read
Catena Media

Catena Media plans for redundancies amid wider strategic review

Catena Media is planning for redundancies within its Malta and UK operations as part of an expanded strategic review of its European business.

The company said Wednesday that the strategic review initiated in May will now be expanded to include the European online gaming and betting affiliate business, which has suffered [...]

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Betr raises $50m ahead of US sports betting launch

Newly established sports betting operator Betr has raised $50m as it prepares to launch in the United States.

Miami-based Betr was founded by Simplebet co-founder Joey Levy and social media personality Jake Paul, and focuses predominantly on micro-betting, enabling in-play betting on scenarios such as pitches and at-bats during baseball games, [...]

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