The week in launches and sponsorships (November 20, 2020)
All the latest news in US betting sponsorships and state launches, including PointsBet launching mobile wagering in Colorado and NeoGames pricing its IPO
PointsBet launches mobile betting in Colorado
Denver-based PointsBet has rolled out its mobile betting app in Colorado, marking the operator’s fifth live state.
PointsBet signed a partnership with Kroenke Sports Entertainment in August as the exclusive gaming partner of the NBA’s Denver Nuggets, NHL’s Colorado Avalanche, Colorado Mammoth of the National Lacrosse League, and all three teams’ home arena, Pepsi Center.
It has also partnered with Learfield IMG College, the media rights holder of University of Colorado Athletics and is the exclusive partner of the Colorado Buffaloes.
“It is a great feeling to now be able to officially introduce Colorado sports bettors to the competitive advantages PointsBet possesses in owning our technology end-to-end, as well as light up our major investments in the state,” PointsBet USA CEO Johnny Aitken said.
NeoGames prices IPO at $81.7m with William Hill as majority shareholder
Lottery platform supplier NeoGames has priced its IPO at $81.7m, after offering up 4.8 million shares at a price of $17 per share.
Its largest shareholder is William Hill which invested in the company in 2015 and pre-IPO owned ~30% of the company.
NeoGames was listed on the Nasdaq trading under the ticker symbol NGMS on November 19, while the offering is expected to close on November 23, subject to satisfaction of customary closing conditions.
Stifel is acting as the lead bookrunner for the offering and as representative of the underwriters, and Macquarie Capital and Truist Securities are acting as joint bookrunners for the offering.
NeoGames provides interactive lottery services to a host of state lotteries, including Sazka in the Czech Republic and Sisal in Italy
Its NeoPollard JV serves four lotteries in the US, recently adding AGLC in Canada as a successful launch.
High 5 Games gets green light for Michigan online casino launch
Online casino provider High 5 Games has been granted access to provide its product in Michigan, which is primed to launch igaming in early 2021.
High 5 already has a land-based presence in the state, offering its games The Green Machine Deluxe, Double Da Vinci Diamonds, Triple Double Da Vinci Diamonds, and Secrets of the Forest.
A number of its land-based slots will also be provided online once the vertical is launched.
High 5 CEO Anthony Singer said: “We’ve expanded into every European market over the last few years, and now we’re refocusing our efforts here at home.
“Receiving approval for our games to go live in Michigan is a key step,” he added.
The operator has over 150 online games live in New Jersey with 20 casino partners.
It also has plans to launch in Pennsylvania soon after Michigan.
NetEnt debuts Red Tiger games with Rush Street Interactive
NetEnt has launched a handful of its Red Tiger online casino slots across Rush Street Interactive’s PlaySugarHouse and BetRivers brands in Pennsylvania.
The initial launch of games includes Gonzo’s Quest™ MegaWays™ and Cash Volt.
These titles will also be joined soon by some of Red Tiger’s most popular seasonal titles.
“We are excited to partner with NetEnt Group to be the first online operator in Pennsylvania to bring these top-quality Red Tiger casino games to our players,” said Richard Schwartz, president of Rush Street Interactive.
“Given the success we’ve had with NetEnt games, I expect this important addition to further strengthen our position as market leader in the US and we’re delighted to be launching with Rush Street Interactive,” NetEnt VP commercial, Americas Brian Kraft said.