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Management – FairOdds Network

Tag: Management

Racecourse Media Group appoints Russell Ferris as managing director

Racecourse Media Group has announced the appointment of Russell Ferris, currently CEO of horseracing organisation Weatherbys, as its new managing director.

Ferris will officially take on the new role on 18 August, the Racecourse Media Group (RMG) confirmed yesterday (2 April). The RMG is the umbrella organisation responsible for media rights involving 61 racecourses across Britain and Ireland.

An experienced executive, Ferris has been serving as the CEO of Weatherbys since September 2019. Weatherbys provides a range of services to the horseracing industry, including playing a major role in breeding approval.

Before becoming CEO, Ferris also had a spell as chief executive of the Weatherbys General Stud Book, a breed registry for horses in Britain and Ireland. He also spent time as operations director.

Prior to Weatherbys, Ferris was a director for At The Race, a dedicated horseracing channel in the UK and Ireland. He also worked as the managing director of Limerick Racecourse in Ire..

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Weekend Report: Trump set to pardon Pete Rose, new Genting Berhad CEO, Pope betting

Welcome to the Weekend Report, where iGB looks at the news that you may have missed across Friday, Saturday and Sunday. This week: Trump set to pardon Pete Rose, Genting Berhad names new CEO and controversial Pope betting markets.

Trump pledges to pardon Pete Rose

US president Donald Trump has said he will pardon baseball legend Pete Rose and hit out at the decision to exclude him from the sport’s Hall of Fame.

Rose was banned from baseball for life after admitting to betting on the sport back in 2004 but never bet against his own team. His bid for reinstatement was rejected in 2015.

Rose, who also served five months in prison after pleading guilty to tax evasion in 1990, died last year aged 83.

Writing on social media last week, Trump said he will pursue a “complete pardon” for Rose.

“He never betted against himself, or the other team. He had the most hits, by far, in baseball history and won more games than anyone in sports history,” Trump said, according to ESPN.

Genting Berh..

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Weekend Report: Fresno State basketball betting inquiry, Bet365 in Tennessee

Welcome to the Weekend Report, where iGB looks at the news that you may have missed across Friday, Saturday and Sunday. This week: Fresno State basketball faces betting inquiry, Bet365 lands Tennessee licence and Altenar pens Immense Group sportsbook deal.

Sources allege Fresno State basketball betting inquiry

The basketball programme at California State University, Fresno has reportedly found itself at the centre of a betting enquiry.

Sources close to the matter told ESPN on 22 February the case involves several of the Fresno State team’s players. So far, one player has been removed from the team, while two others have been suspended.

Mykell Robinson has not played for Fresno State since January and is no longer on the team. Fresno State also said in a statement that guards Jalen Weaver and Zaon Collins were being withheld from competition while the university reviews an “eligibility matter”.

The sources said Fresno State launched an investigation after receiving a tip off. The N..

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iGB@ICE: Werner Becher on the first six months of his Kambi tenure

Werner Becher had a tough act to follow, taking charge of Kambi from Kristian Nylen, but he says it’s been a case of refining an ongoing transformation process to build out a modular product range from a turnkey business.

Speaking in the iGB@ICE studio, he reflects on the first six months of his tenure, including launching for clients in Brazil on 1 January, when the market opened.

Going forward he aims to change the perception of Kambi from a turnkey specialist to a premium sportsbook solutions provider. This increases the supplier’s addressable market, Becher explains

Flexibility is key to the renewed and refreshed Kambi, Becher says. And he admits that Kambi was perhaps too reliant on a small number of partners previously. By offering solutions that allow the sportsbook technology provider to tap into a wider range of clients, there is scope to add far more customers.

Kambi remains a premium proposition

However it remains a premium sports betting product, meaning it’s not l..

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iGB@ICE: The intersection of sports and gaming with Brendan Bussmann and Adam Sachs

We’re talking sports in the iGB@ICE studio, with Adam Sachs, counsel and senior policy advisor at Dentons. Sachs previously acted as chief counsel for MLB’s Kansas City Royals for three years and has been instrumental in helping the team forge relationships with the gaming sector.

In conversation with Brendan Bussmann, managing partner of B Global advisors, Sachs said the team was looking to implement an “esports component” to any deal the team pursues in the future.

“We have a visionary owner in John Sherman with the Royals who saw that a sports stadium can unlock value for the ownership group but can also engage fans and bring them down to an engaging and exciting venue more often than they typically do in a place like Kansas City,” Sachs said of the innovation under way within the team.

Sachs also digs into the challenges faced by sports entities in partnering with the gaming sector, due to the built-in moral-based opposition against gambling.

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Weekend Report: Sportsbet sued in Australia, FanDuel live in Puerto Rico

Welcome to the Weekend Report, where iGB looks at the news that you may have missed across Friday, Saturday and Sunday. This week: Sportsbet faces legal action in Australia, FanDuel launches in Puerto Rico and BetMGM secures gameshow rights.

Australian players launch class-action against Sportsbet

Up first, a group of Sportsbet customers in Australia have launched a class-action lawsuit against the operator, seeking to recover millions of dollars in losses.

Players are demanding Sportsbet repay the money they say was lost through “illegal” live betting, the Australian Associated Press reports. Digital in-play betting on sports is prohibited in Australia.

The suit said Sportsbet should refund gamblers who have lost money using Sportsbet’s ‘Fast Code’ service in the past six years. Fast Code allows players to bet on live sports by making a selection online and calling Sportsbet to place the wager.

Principal lawyer Elizabeth O’Shea is working with the group on the case. She said: “Be..

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Weekend Report: DraftKings penalty, former deputy PM talks UK election betting, David takes over at Entain

Welcome to the Weekend Report, where iGB looks at the news that you may have missed over Friday, Saturday and Sunday. This week, DraftKings agrees to pay $200,000 over disclosure violations, former British deputy PM speaks to the regulator about election betting probe and Stella David takes the helm at Entain.
DraftKings faces $200,000 penalty
First this week, DraftKings has agreed to pay a $200,000 (£149,251/€178,756) penalty for selectively disclosing certain material non-public information on social media accounts, instead of all investors.

In July last year, DraftKings’ public relations company published posts on LinkedIn and X, formerly Twitter, about “strong growth”. This was despite DraftKings having not released its Q2 2023 financial results. DraftKings asked for the posts to be removed but did not distribute information to investors for another week.

The US Securities and Exchange Commission hit out at DraftKings. It said such information must be made available to all inves..

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Penn CEO Snowden: “Don’t believe everything you read” on M&A, points to late August NY launch

Penn Entertainment CEO Jay Snowden refused to comment on speculation of competitors teaming up to acquire the operator during Thursday's quarterly earnings call. Instead, he talked up deeper and deeper integrations with partner ESPN.
On Thursday’s (8 August) earnings call, Snowden said the company will be live in the biggest legal market in the US – New York – by the start of the college football season. He also addressed the controversial winners’ surcharge that DraftKings is floating. But his main focus was acquisition rumours.

The ESPN Bet launch last November brought the premier sports media brand into the betting sector. Snowden said it was a milestone moment. But it hasn’t yet translated into a podium position for Penn Entertainment.

Blended market share across six states averaged 6% for March, and investors have started to question Penn’s digital strategy. This led to rumours of a sale, suggesting Boyd Gaming would bite. Those rumours evolved into a joint approach with ..

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WynnBet ceases operations in Massachusetts

The Wynn Interactive division of Wynn Resorts has ceased operations of its WynnBet online gambling brand in the state of Massachusetts.

Players in Massachusetts have 30 days from yesterday (12 February) to withdraw any funds from their WynnBet account.

Wynn Resorts, however, will continue to operate retail sports betting in the state. Players can continue to wager at the land-based sportsbook and kiosks inside its Encore Boston Harbor casino.

The halting of operations in Massachusetts comes after Wynn Resorts last August set out plans to scale back the brand across the US. Along with Massachusetts, WynnBet will also exit Colorado, Indiana, Louisiana, New Jersey, Tennessee, Virginia and West Virginia.

WYNNBET IS IS ALSO SET TO EXIT Colorado, Indiana, Louisiana, New Jersey, Tennessee, Virginia and West Virginia

The brand remains active in Nevada, New York and Michigan. However, Wynn chief financial officer Julie Cameron-Doe last week said its operations in New York and Michigan rem..

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Intralot extends contract with Morocco’s MDJS until 2025

Intralot has announced a two-year extension to its games operator contract with La Marocaine des Jeux et des Sports (MDJS).

The fresh deal is set to run out in December 2025. The agreement will see Intralot continue to operate MDJS’ lottery, while also offering sports betting and other games of chance.

Intralot has had a long-term partnership with MDJS, powering its offering since 2010. The Greek operator will continue to operate MDJS’ lottery games, which include Tifo and Chrono.

In March 2021, Intralot announced it had agreed to reduce the term of an eight-year deal with MDJS, signed in 2019, to end in December 2022.

However, despite MDJS launching a tender in January 2022 for a new supplier, a new one-year extension was agreed with Intralot in March 2022. This most recent extension, announced on Friday, prolongs the relationship between the pair.

Intralot at risk of not meeting 2024 bond obligations

In November 2023, Intralot announced a return to net profit for Q3. Gross gam..

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Tiers and turbulence in US sports betting

The US sports betting sector has grown rapidly, but Paul Girvan sees trouble on the horizon for the early leaders.

The rapid development of US sports betting has been astounding. Currently some 32 states have legalised some form of sports betting and, of this number, 28 provide either mobile or online access.

Within the 32, there are five states where tribal operators provide the only betting option. To date the markets have been characterised by a hierarchy of operators that have gained access primarily via partnerships with land-based casino operators, both tribal and commercial.

A further eight states are considering the issue and could pass legislation in the coming year. Beyond these is a disparate group of states that have been resistant to passing sports betting legislation – although some have been actively considering the issue.

Among these are three powerhouses of tribal gaming; Minnesota, Oklahoma (with its proximity to Texas) and the behemoth of California. Trouble, ho..

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Bill Hornbuckle on MGM Resorts’ global growth ambitions

MGM Resorts’ home town of Las Vegas evolved beyond all recognition during Bill Hornbuckle’s time in gaming, but it’s not the only show in town. He’s eyeing up expansion across a range of global markets and expanding into new channels.

Things are booming in MGM Resorts’ home town, but it’s much more than a Vegas-based business. Hornbuckle leads global development efforts and having taken MGM into Macau he’s still looking east.

MGM Resorts looks east

Japan’s ministry of land, infrastructure, transport and tourism certified plans for a $10bn integrated resort in Osaka in April. After finalising agreements with Osaka Prefecture and City, construction can begin on the property.

Marginally closer, opportunities are emerging in the United Arab Emirates. First Wynn sealed an agreement for a resort in Ras al-Khaimah. Then a federal regulator, the General Commercial Gambling Regulatory Authority (GCGRA) emerged paving the way for resorts in other Emirates.

MGM is focused on Dubai, Hornbu..

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