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Alongside the online success, Sun International’s land-based casinos segment returned to growth for the first time in three years.
Revenue from land-based casinos edged up 1.5% to R3.42 billion, with Sun International’s share of the market rising 2.3% to 49%.
Sun International attributed the land-based growth to investments in product and marketing, with land-based casino GGR growing 4.4%. The company launched 876 new slot machines and stadium games during the period.
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Another point of contention was content marketing and influencer promotions. The Lords committee advised treating this as advertising and, if a full ban were not immediately feasible, prioritising its prohibition.
Sponsorships and advertising with sports teams was also flagged as according to the report, voluntary efforts had failed to reduce the industry’s exposure.
With int he report Dr Matt Gaskell MBE observed that “overall exposure (including shirts, hoardings, logos, sponsorship and related marketing) during live sports programmes does not show that self-regulation has reduced exposure meaningfully”.
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Canada-based Score Media & Gaming may have just scored a game-winning touchdown. In an announcement made after markets closed yesterday, the company behind theScore and Score Bet sports gambling brands has launched an initial public offering (IPO) as it goes live on the Nasdaq Global Select Market (NGSM). The move follows on the heels of Canada’s preliminary approval of single-event sports wagers, which is expected to greatly benefit Score Media, and could quickly lead to the company’s stock price skyrocketing.
Score Media announced that it is selling five million shares, fewer than previously expected. The company had changed gears with its public launch, announcing last week a reverse split that would cut out some of the available shares while increasing the per-share price. It has already found support, with underwriters Canaccord Genuity, Credit Suisse, Macquarie Capital and Morgan Stanley able to purchase another 15% on top of the initial five million shares. Should they exercise that option, there would be a total of 5.75 million shares available. The underwriters have 30 days to make up their minds, which will give it time to see how the market reacts.
Several gaming entities have jumped into public trading recently, most notably, DraftKings. It saw a huge response when it launched its IPO last year, and Score Media hopes it can see a similar response. With operations in Canada, Colorado, Indiana and New Jersey, heavy interest is not out of the question, and the company is ready to capture a larger piece of the market. It added in its announcement, “[Score Media] currently expects that the net proceeds of the offering will be used to fund working capital and other general corporate purposes, including the continued growth and expansion of theScore Bet’s operations in the United States and Canada by supporting the multi-jurisdiction deployment and operation of theScore Bet and user acquisition and retention in jurisdictions where theScore is, or will be, operating.”
