Oct 07, 2021 (Financial News Media via COMTEX) -- Palm Beach, FL - October 7, 2021 – FinancialNewsMedia.com News Commentary – US sports betting once only happened in Nevada. Now, as legal sports betting has expanded to more states starting in 2018, the amount of sports betting revenue generated in the country has increased dramatically. The revenue from states that allow gambling is up 22 percent from the previous record of $11.1 billion in the third quarter of 2019, months before the Covid-19 pandemic plunged the industry into a recession. U.S. gambling revenue hit $13.6 billion in the second quarter of 2021, a new industry record, according to data from the American Gaming Association. According to a report from Statista, The global online gambling market is anticipated to be valued at more than 92.9 billion U.S. dollars in 2023. The current size of the market is almost 59 billion U.S. dollars, meaning the size is forecast to double in the upcoming years. "Online gambling consists of playing casino games, poker and/or sports betting via the internet. Due to factors such as the advancement of technology available (for example smartphones and apps), higher trust of gamblers paying online, and the increasing digitization of the world, the online gambling market is seeing growth in many regions. After sports betting was legalized in the United States by the Supreme Court in 2018, online gambling companies are now able to grow their sport betting sectors, thereby further supporting the market's growth." Active gaming and tech companies in the markets today include: Esports Technologies /zigman2/quotes/226082549/composite EBET -9.37% , Las Vegas Sands Corp. /zigman2/quotes/208792014/composite LVS +0.26% , MGM Resorts International /zigman2/quotes/209932643/composite MGM -1.44% , Super League Gaming /zigman2/quotes/202401484/composite SLGG -3.11% , SharpLonk Gaming Ltd. /zigman2/quotes/207691677/composite SBET +6.15% .
The report added: "The sports betting industry in the United States is growing with relative speed. Many states have legalized the pastime and even more are in the process of doing so. The agreements that have been made between sports betting companies and casinos in 2019 are predicted to play a significant role in revenue growth in the upcoming years. The rise of esports betting has gone hand in hand with the widespread deregulation of online betting all over the world. At the moment online esports betting is legal in a relatively small number of countries like the UK, Germany, Sweden and so on. Countries like Australia still don't allow you to bet live on esports over the internet. But it looks like the tide is turning as growing numbers of US states are starting to legalize betting on regular sports and esports. Such moves will dramatically increase the potential revenue streams for esports betting sites and its understandable why so many bookmakers are keen to move into the fledgling US markets. This suggests a bright future for the esports betting industry."
Esports Technologies /zigman2/quotes/226082549/composite EBET -9.37% - BREAKING NEWS – Esports Technologies' Nolan Bushnell, Founder of Atari, to Keynote at SiGMA Europe – Esports Technologies will be the platinum partner for this event – Esports Technologies , a leading global provider of advanced esports wagering products and technology, announced today that its strategic advisor Nolan Bushnell will be the keynote speaker at this year's SiGMA Europe , taking place November 15-19 in Malta. Esports Technologies will be the platinum partner for this event, one of the world's largest gaming exhibitions.
Billed as "The World's Gaming Festival," SiGMA Europe will bring together leading suppliers, operators, affiliates, and emerging tech. The event will showcase the latest trends and insights and offer five days of unparalleled in-person networking opportunities in a first-class Mediterranean setting.
Mark Thorne, CMO, Esports Technologies, said, "We are extremely proud to have Nolan Bushnell as the keynote. He is truly a legend in the gaming space. We're especially excited to be the Platinum partner for SiGMA Europe, where we will not only showcase our technology and brands, but also help promote the importance of Esports wagering within the iGaming industry."
At the event, there will be an Esports Village for enthusiasts and newcomers to enjoy. Esports Technologies will also team up with GamingMalta to provide esports workshops with multiple tracks centered around esports as well as esports wagering, a global market that is expected to be valued at more than $20.7 billion by 2027 . Through the efforts of GamingMalta, the island nation has become a rapidly growing hub for digital innovation. Malta is the host location for both 2021 seasons of ESL Pro League , one of the major professional leagues in esports. CONTINUED...READ THIS AND MORE NEWS FOR EBET BY VISITING: https://esportstechnologies.com/news/
In other entertainment and gaming recent news of interest:
Las Vegas Sands Corp. /zigman2/quotes/208792014/composite LVS +0.26% recently announced that its majority-owned subsidiary, Sands China Ltd. (“Sands China”), has priced $700 million of 2.300% senior notes due 2027, $650 million of 2.850% senior notes due 2029 and $600 million of 3.250% senior notes due 2031. The offering is expected to close on September 23, 2021, subject to customary closing conditions.
Sands China intends to use the net proceeds of approximately $1.93 billion from the offering and cash on hand to redeem in full the outstanding principal amount of its US$1.80 billion 4.600% senior notes due 2023, any accrued interest and the associated make-whole premium as determined under the related senior notes indenture dated as of August 9, 2018.
MGM Resorts International /zigman2/quotes/209932643/composite MGM -1.44% recently announced the closing of the previously announced purchase of Infinity World Development Corp’s (“Infinity World”) 50 percent interest in CityCenter Holdings, LLC for $2.125 billion.
In addition, MGM Resorts and Blackstone have also closed the previously announced sale-leaseback agreement for Blackstone to acquire the real estate assets of Aria and Vdara for $3.89 billion.
Following the transaction, MGM Resorts has leased the property from Blackstone and continues to manage, operate and be responsible for all aspects of the property on a day-to-day basis. In connection with the closing of the transactions, the Company has fully retired CityCenter’s debt. As of June 30, 2021, CityCenter had cash and cash equivalents of $307 million and total debt of $1.73 billion.
Production Resource Group, LLC, a global event production solutions company, and Super League Gaming /zigman2/quotes/202401484/composite SLGG -3.11% a leader in video gaming and esports experiences and entertainment, recently announced the formation of a partnership to provide a full spectrum of event support to the esports community. The level of collaboration between PRG and Super League is singular and one-of-a-kind for the industry.
"The esports ecosystem is extremely broad and varied, and decidedly global. Together, Super League and PRG can leverage our diverse strengths and networks to push past current boundaries of the esports event fan experience, elevating all touchpoints from gameplay to sponsorship activations to live music to digital-to-physical engagement," said Matt Edelman, Chief Commercial Officer, Super League. "With PRG's global network of locations and resources, Super League can now activate anywhere at scale."
SharpLonk Gaming Ltd. /zigman2/quotes/207691677/composite SBET +6.15% , a pioneer of game-changing technological solutions and experience-based services for the U.S. online sports betting industry, recently announced that the Company is teaming with NBC Sports to launch a new, interactive, free-to-play online game for the 43 [rd] Ryder Cup to be held at Whistling Straits in Kohler, Wisconsin from September 24-26, 2021. Established in 1927, the Ryder Cup is a major golf competition that occurs every two years and pits 24 of the world's best golfers comprising Team USA and Team Europe in a head-to-head match play competition.
The Ryder Cup Fantasy online game will be available on Ryder Cup.com and the official Ryder Cup mobile apps for iOS and Android, providing golf fans in the U.S. and Europe with a fun, even more immersive Ryder Cup experience. Fans will be challenged to choose six golfers from either the U.S. or European teams and earn points the same way the professional golfers will earn points in the Ryder Cup matches. For instance, if a fan's golfer is part of a winning match/pair, one point is awarded; or if there is tie, the fan earns a half point. The goal is to earn as many fantasy points, as possible. Players will be competing for an ultimate prize pack filled with Ryder Cup gear.
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