It has been a busy week in the global sports betting world.
Beyond the action on the field and in arenas, the wagering industry has made its share of headlines in the past seven days.
888Holdings and William Hill took steps to cement their merger, while the William Hill brand itself announced expansion plans.
Global sports betting providers announced new sports betting destinations this past week, and a few individual countries made moves to shore up their legal sports betting scenes.
Let’s break down a few global sports betting industry headlines that caught our eye this week.
888Holdings Takeover of William Hill to officially take place this summer
888Holdings took the next step toward acquiring British-based William Hill’s European assets this week. Shareholders voted 99.73% in favor of the anticipated takeover at its Extraordinary General Meeting early last week.
The vote served as one of the final steps toward the purchase and culminated in an eight-month process between 888Holdings and William Hill.
In 2021, Caesars Entertainment accepted 888Holdings’ £2.2 billion bid, which bought out William Hill’s global assets earlier that year.
Caesars, in turn, flipped William Hill’s European assets to 888.
With shareholder blessings, it is expected that the transaction will be finalized by the target date of June 30.
More on William Hill
It was announced this week that the European gambling giant would be bringing its elite gambling product to Latvia as part of its desired European expansion.
William Hill will move forward with 11.lv, one of Latvia’s premier gambling destinations and one that William Hill purchased in 2019.
11.lv has been a trusted and recognizable brand in the European country since 2012, offering elite sportsbook and online casino experiences.
“This makes us well-positioned to take this strategic step, and we look forward to introducing one of the strongest brands in the industry and proving to our Latvian customers that William Hill is who you play with,” said Nir Hakarmeli, international managing director for William Hill.
Brazilian Football Clubs Busy Signing Partnership Deals
A total of three Brazilian football clubs announced sportsbook partnership deals this past week.
Palmeiras signed a two-year partnership with Betfair; Corinthians signed with Galera.bet, and the club America will have the EstrelaBet logo on their jerseys for the 2022 season.
It serves as just another example of sportsbooks continuing to weave themselves in the fabric of global athletics.
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Sportsbook News
Genius Sports Posts Strong Q1 Growth
Earnings season continued this past week with data content and technology company Genius Sports reporting their Quarter 1 financials.
The company posted a negative EBITDA despite showing growth in revenue on all metrics.
Genius Sports reported $85.9 million in revenue from January to March – representing a 60% year-over-year revenue increase even though the company posted an adjusted negative EBITDA of $2.9 million.
Operating expenses have been cited as a reason for the company ending Q1 with a net loss. Despite good revenues, the cost of doing business affected Genius Sports Q1 bottom line.
BtoBet Expands African Presence
BtoBet, a global sports betting platform, and services provider, is the latest sportsbook attempting to take advantage of the growing gambling industry in Africa with a deal to provide their services in Cameroon.
Thanks to STM Gaming, BtoBet’s official partner for Africa, the sports betting provider has teamed up with Cameroon-based Ngnatat Sarl Trading’s Bet237 brand for rights to operate in the African nation.
It is a win-win for both BtoBet and Ngnatat Sarl Trading’s Bet237 – each will benefit significantly from what the other has to offer in the emerging market.
Gaming Innovation Group (GiG) gets Market Access to Angola
The recent trend of global sportsbooks targeting the African markets continues.
Last week, Delaware-based igaming firm Gaming Innovation Group (GiG) announced that it is launching its gaming suite, including a sportsbook and wide-ranging online casino in Angola.
It will be GiG’s first foray into what analysts believe will be a stout and flourishing African scene.
Individual Countries in the News
Peru Moving Toward Legal Mobile Sports Betting Platform
Peru is the latest in a long line of countries that have committed to looking into their gambling laws.
Lawmakers in the country have submitted a comprehensive proposal to allow for a taxed, legal mobile sports betting platform. The motivations are to tax and regulate gambling while aiding the national debt.
The proposal, which is still a proposal, stipulates a 20% tax rate on sports betting across the country.
Dominican Republic Looking for a Change in Gaming Industry
Scandal hit the Dominican Republic sports betting industry and its Lottery-based platform, resulting in an overhaul of operations in the country.
Ricardo Nadal, the President of The National Association of Sports Banks is leading the charge for the Lottery to be excluded from consideration in the running of the country’s legal sports betting platform. The Lottery is fresh off an embarrassing $8.5 million ticket sales falsification issue last year.
Nadal is behind an effort to reform the General Directorate of Games of Chance; a business-forward body shelved in the country for almost a decade.
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