Management – Page 3 – FairOdds Network

September 7, 2022

Betegy to ramp up US push following Yolo investment

Betegy has closed an investment round led by Yolo Investments – the venture capital arm of the Yolo Group, which operates the Sportsbet.io brand.

Betegy – which provides data visualisations, automated on-air and retail graphics, and casino marketing assets to operators – intends to use the funds to continue its scaling in the US. The announcement follows a previous funding round led by JKR Investment Group, which was announced in 2020.

iGB spoke to both Betegy founder and chief executive Alex Kornilov, and Yolo Investments founder and GP Tim Heath to discuss the deal and how Betegy plans to further adapt its products for the US market, and the startup funding sector as a whole.

What encouraged you to invest in the business; what do you think that Betegy brings to the market that wasn’t on offer before?

TH: Betegy’s great innovation is to automate the previously time-consuming process of turning reams of data into world-class content. We know the product works because it’s been succ..

August 23, 2022

Rush Street Interactive: the exception that proves the rule

At a time when US sports betting operators are shifting focus to profitability rather than expansion, Rush Street Interactive believes it is a step ahead of the competition. Chief executive Richard Schwartz explains how a disciplined approach, online casino and its pan-American ambitions, will achieve this.

The early stages of the US betting and igaming market have been typified by a race to build as big a customer database as possible, at whatever cost. Each state that launches experiences advertising shock and awe, as operators bankroll vast campaigns to use each rollout as a land-grab for new sign-ups.

Rush Street Interactive (RSI), the business that listed on the New York Stock Exchange in December 2020, has looked to take a different approach. At a time when there is greater scrutiny of company spending, and investors query how long hefty losses can be sustained, it has managed to keep its spending in check.

While the push for profitability is still relatively new to the wide..

August 22, 2022

How social gaming set Bryan Bennett up to succeed at Betfred

Bryan Bennett fought “800lb gorillas” working for a challenger brand in the social casino space, and that experience could prove crucial as he works to make Betfred USA Sports a key player in the sports betting sector.

The social casino boom of the early 2010s, sparked by what was then Caesars Interactive’s investment in Playtika in 2009, opened up a new audience to the gaming industry and sparked a wave of M&A. The likes of DoubleDown, Big Fish Games, Product Madness and Buffalo Studios were among those to sell at significant multiples.

The smaller challengers tended to have to fight for market share, which in turn saw the market leaders turn to them as acquisition targets to further shore up their strong positions.

Bryan Bennett entered the fray as vice president of marketing for slot developer Rocketplay, one of these challengers, and one that was ultimately snapped up by slot manufacturer AGS. This saw Bennett, who previously worked for strategy games developer Kabam and casua..

August 17, 2022

Why MaximBet is more than a sum of its parts

When PASPA was repealed, Daniel Graetzer saw the biggest opportunity of his career. Having gone all-in on the market, he is now running a nationally recognised brand in MaximBet.

When it comes to partnerships between US media giants and sportsbooks, it tends to be the market leaders that get mentioned. It could be 888 using the Sports Illustrated brand for its US push. Or Penn National acquiring Barstool Sports and theScore to drive its growth.

The rampant speculation around ESPN moving into betting operations tends to cite DraftKings or Caesars as being its most likely partner. In short, the companies involved tend to be large, and listed.

But MaximBet, a challenger launched in 2021, has successfully pivoted from a Europe-focused, multibrand business into a US-focused, media brand-driven competitor.

And chief executive Daniel Graetzer is keen to stress that MaximBet is not just a gimmick – he’s building a new proposition for the US sportsbook industry.

Building betting into a..

August 17, 2022

GiG CEO: Rationale for Sportnco deal proven by Q2 performance

A full quarter’s contribution from Sportnco has aided Gaming Innovation Group’s international expansion drive, and while new opportunities emerge in the Americas, Europe is also playing a key role in its growth trajectory.

Gaming Innovation Group’s (GiG) first quarter results for 2022 set a new high point for revenue, for the second consecutive reporting period. The supplier has now extended that winning streak to three quarters, reporting a 37.1% year-on-year jumping in revenue to €22.1m (€18.6m/$22.5m).

GiG Media, its affiliate division, continues to grow rapidly, but for the three months to 30 June, the platform business’ performance was the standout performer. Revenue grew 43.1% to €7.3m, reflecting a full quarter’s contribution from Sportnco.

Richard Brown, GiG CEO

Sportnco’s impact in Q2

In the wake of the first quarter results, chief executive Richard Brown talked up the anticipated impact of adding a proven sportsbook to GiG’s portfolio. Following Q2’s figures, it certa..

July 20, 2022

Aspire prepares for a new era

Aspire Global has divested its B2C operations to become a focused B2B business which in turn becomes part of a formidable proposition now NeoGames has acquired the supplier. But that B2C heritage will be vital to ensuring it continues its rapid growth trajectory, says CEO Tsachi Maimon.

Tsachi Maimon was named chief executive of Aspire Global in 2013. At that time the business brought in about €25m (£21.3m) annually. Eight years later, it posted revenue of €213.3m for 2021.

When Maimon joined, he oversaw a B2C business which contributed the bulk of revenue. By the end of 2021, the company had sold off all its consumer-facing operations, which were snapped up by Esports Technologies in a €65.5m deal.

On 17 June, Aspire was then acquired by an even larger entity, with ilottery specialist NeoGames completing a public offer to take charge of the company for €402.3m.

This, Maimon says, is the result of “a series of carefully considered business decisions” that has ultimately taken it..

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Tag: Management