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Penn National Gaming to acquire Score Media and Gaming
Penn National Gaming, Inc. and Score Media and Gaming, Inc. announced today that they have entered into a definitive agreement whereby Penn National will acquire theScore, a leading digital media and sports betting and technology company, for approximately US$2.0 billion in cash and stock.
Under the terms of the agreement, theScore shareholders will receive US$17.00 in cash and 0.2398 shares of Penn National common stock for each theScore share, which implies a total purchase consideration of US$34.00 per theScore share based on Penn National’s 5-day volume weighted average trading price as of July 30, 2021. The transaction has been unanimously approved by the boards of directors of both companies and is currently expected to close in the first quarter of 2022. Upon completion of the transaction, current Penn National and theScore shareholders will hold approximately 93% and 7% respectively, of the Company’s outstanding shares. Penn National expects to fund the approximately US$1 billion cash portion of the consideration using existing cash on its balance sheet.
Jay Snowden, President and Chief Executive Officer of Penn National, commented, “We are thrilled to be acquiring theScore, which is the number one sports app in Canada and the third most popular sports app in all of North America. theScore’s unique media platform and modern, state-of-the art technology is a powerful complement to the reach of Barstool Sports and its popular personalities and content.”
Mr. Snowden continued, “We are now uniquely positioned to seamlessly serve our customers with the most powerful ecosystem of sports, gaming and media in North America, ultimately creating a community that doesn’t currently exist. Users will enjoy a unique mobile sports betting and iCasino platform with highly customized bets and enhanced in-gaming wagering opportunities, along with highly engaging, personalized sports and entertainment content, and real time scores and stats. We believe this powerful new flywheel will result in best-in-class engagement and retention.
“Importantly, the transaction provides us with a path to full control of our own tech stack. theScore has developed a state-of-the-art player account management system and is finalizing the development of an in-house managed risk and trading service platform. This should lead to significant savings in third party platform costs and allow us to broaden our product offerings – providing the missing piece for operating at what we expect to be industry leading margins. In addition to the synergies, we’ll be gaining access to theScore’s deep pool of product and engineering talent and data-driven user analytics which will help drive our customer acquisition, engagement, retention strategies and cash flows,” said Mr. Snowden.
“Operators that have achieved early online market share have done so primarily through first mover advantage, leveraging existing customer databases and significant marketing spend. We believe the long-term winners will be defined by best-in-class products, bespoke content, efficient customer acquisition, multi-platform reach and broad market access,” concluded Mr. Snowden.
John Levy, Chairman and Chief Executive Officer of theScore, commented, “This deal brings together two companies that share a vision for how media and gaming intersect, and we could not be more excited to join the Penn National family. I’m proud of theScore team and all of our accomplishments, and believe the time is right to take the next step and align with a company in Penn National with the resources and scale to accelerate our business. We are excited to join forces with Penn to form the most powerful media and gaming company in North America.
“We’ve built an innovative, technology-led integrated media and gaming business that has us poised for success across North America, including the highly anticipated upcoming rollout of commercial sports betting in Canada,” continued Mr. Levy. “With Penn’s support, we will continue to invest in building our Canadian operations, growing our footprint and expanding our workforce. On a personal note, Benjie and I are very much looking forward to continuing to head up theScore as part of the new combined company.
“We have been strategic partners with Penn National since 2019 and have come to realize that they have the same strong culture and appreciation for how to grow a business. Jay and his team have done a tremendous job building an exceptional retail business and online gaming platform in partnership with Barstool Sports and we are confident that by combining our leading sports media brand and proprietary technology, we will solidify Penn National as a market leader,” concluded Mr. Levy.
Jon Kaplowitz, Head of Penn Interactive, commented, “This is a significant milestone for Penn Interactive and Penn National. With the acquisition of theScore, we will have greater ability to innovate and offer a best-in-class product to our customers. Personally, I am excited to join forces with John, Benjie, and the rest of theScore team who have proven to be great partners and amazing thought leaders in our industry.”
Benjie Levy, President and Chief Operating Officer of theScore, commented, “The combination of theScore and Penn National creates a first-of-its-kind vertically integrated media and omni-channel gaming business, which brings together world-class technology, highly engaging sports content and unparalleled reach. With our accomplished team in place, this deal bolsters our ability to grow our already strong North American presence from our base in Canada and primes us even further to capitalize on the huge upcoming betting opportunity in our home country. Over time, we’ve built our loyal user base and relationship with fans by authentically delivering deeply personalized products. That is an approach that seamlessly fits with Penn’s current strategy and digital offerings and will provide for material long-term benefits as we collaborate to even more deeply integrate across our platforms.
“The transaction will provide theScore with immediate scale and resources, the benefits of which will enable employees to better execute on the combined companies' business plan and deliver enhanced integrated product offerings to our customers,” continued Mr. Levy. “The transaction also provides theScore shareholders immediate liquidity at a substantial premium and an opportunity to participate in any future upside of the combined company.”
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New welcome bonus at Cadoola online casino
Released in December 2017, online casino Cadoola grabs with colorful yet minimalist design. Cadoola owns a Curacao license and offers clients a secure gaming atmosphere with tons of ways to enhance their chances for winnings.
One of these ways is the welcome bonus clients can claim right after a successful registration. Being on the market for a few years now, Cadoola has been updated to fit the needs of people from all around the globe as well as the development of the fast-paced industry. Thus, recently the welcome bonus has also undergone a change. So far, players were able to get a single 100% bonus up to 500 EUR, now they can enjoy a massive bonus package that is worth up to 800 EUR. It contains for consecutive bonuses, some of which also come with free spins that players can use on top-quality slots available at Cadoola.
Currently, new players enjoy a four-stage welcome pack on their first four deposits at Cadoola as follows:
1st deposit = 120% up to €240 Bonus + up to 100 Free Spins 2nd deposit = 110% up to €220 Bonus 3rd deposit = 100% up to €100 + up to 150 Free Spins, 4th deposit = 120% up to €240 Bonus
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Pragmatic Play unveils Hercules & Pegasus
Pragmatic Play, one of the leading software providers for video slots, live casino and bingo, has released its latest heroic slot, Hercules & Pegasus.
The 3x5 title, set in the clouds high above Olympus, sees the famous Greek hero Hercules soar across the reels in search of big wins.
Hercules and Pegasus is filled to the brim with features and bonus rounds, with Hercules and his mount Pegasus both having modifiers, free spins and wilds.
The reels are further enhanced by the Bolts of Zeus, which can hit the reels at any time, replacing symbols to create big wins.
If players manage to trigger the Hercules & Pegasus free spins, both characters look to guide them to the biggest wins imaginable.
Melissa Summerfield, Chief Commercial Officer at Pragmatic Play, said: “Hercules and Pegasus is one of the most exciting additions to our slot portfolio this year.
“Packed with exhilarating features and two fun characters, our heroes fly across the sky in search of great trials and big wins.”
Hercules and Pegasus is the latest creation to join Pragmatic Play’s award-winning collection of slot games, such as Aladdin and the Sorcerer, Sweet Bonanza, Mustang Gold, and fan-favourite Wolf Gold.
The provider’s entire portfolio of video slots, bingo, scratchcards and live casino games is available to its operator partners via a single API.
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Slotland launches online casino CryptoSlots
Slotland, one of the most experienced, trusted and innovative names in the online casino business, has just launched CryptoSlots, a new cryptocurrency-only online casino featuring a million-dollar jackpot game and 21 unique slots and video poker games. CryptoSlots currently supports Bitcoin, Bitcoin Cash and Litecoin transactions and will be adding additional cryptocurrencies soon.
Players' cryptocurrency deposits are automatically converted to USD for play. Sign-up is quick and easy, requiring only an email address. All games are provably fair and can be played on any computer, smartphone or tablet. Bitcoin, Litecoin and especially Bitcoin Cash withdrawals can be processed very quickly.
“In our other casinos, we’ve seen a huge increase in players opting to play in cryptocurrencies to avoid banking delays and complications,” said Slotland’s Michael Hilary. “CryptoSlots is designed to make it easy for players to play in crypto, but still bet in USD. Crypto also allows for increased player anonymity since all that’s required is an email address and crypto wallet.”
CryptoSlots is launching with 21 unique games (slots, video poker and the exclusive Jackpot Trigger) and will be quickly adding many more new games from Slotland and Win A Day Casino. For players looking to win big, five of these games are high limit variations, unique to CryptoSlots. The $1,000,000 Jackpot Trigger, also exclusive to CryptoSlots, is a real stand-out. Played with tokens collected while playing other CryptoSlots games, players can win up to $1,000,000 in a single spin.
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Mount Airy Casino launches Play Mount Airy
Mount Airy Casino Resort, Pennsylvania's first AAA Four-Diamond casino resort, today announced the official launch of their social casino, Play Mount Airy. The social platform was built using Greentube Pro, Greentube's private label social casino solution.
Mount Airy Casino Resort looked to Greentube to create a customized solution that enabled players to experience the resort online. The platform provides a true branded experience that reflects the physical appearance of Mount Airy Casino Resort. Players who visit the site will instantly recognize a virtual rendition of the property's lobby and main casino. In addition, the site offers popular games from Greentube and other leading providers.
The social casino – available on PC, tablet or mobile device – provides multiple in-game and external marketing channels that enhance the player experience through live operations. In addition, Greentube's marketing expertise will assist with in-house promotions. The Mount Airy social casino is the third social platform for a major casino created by Kenny Huang and his team at BlueBat Games, a subsidiary of Greentube.
"Our goal was to build a social platform that delivered part of the Mount Airy Casino Resort experience into players' homes and hands," said John Culetsu, Executive Vice President and General Manager for Mount Airy Casino Resort. "We are proud to offer this platform to our regional players as well as casino enthusiasts throughout the country."
"Social casinos are the gateway to attracting new players to visit a casino property and the means by which casinos can entice previous players to return," said Gabriel Cianchetto, President of Market Development, Greentube North America. "With our assistance, Mount Airy Casino Resort is aptly positioned to deploy the latest marketing technologies and game content."
According to SuperData research, 82% of social casino gamers have visited a land-based casino within the past year and 60% have visited within the past six months. PC players have been found to play an average of 69 minutes per session while tablet and mobile players spend 57 minutes per session. Each year, millions of players prepare for their next visit to a brick-and-mortar casino by visiting a social casino online.
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Microgaming signs agreement with RedKings
Popular poker room RedKings Poker is switching poker software supplier to Microgaming and joining the MPN, which is now the biggest B2B Poker Network in the world.
Players at RedKings will be able to enjoy the increasing pooled liquidity that MPN has to offer, along with a fantastic range of online and offline poker tournaments plus Network and unique room specific online poker promotions.
Players will also be able to access a full suite of Microgaming supplied casino games within the poker client, including popular slots Thunderstruck, Avalon and Immortal Romance.
Michael Golembo of RedKings, commented: "This change to Microgaming software will allow us to build on our eight year old Poker business by providing a much improved poker playing experience and doing what RedKings is known for, making poker fun!"
He added: "We're thrilled to have agreed a poker deal with Microgaming, an expert in the industry."
Jean-Luc Ferriere, Director of Network Games at Microgaming, said: "It's great to be adding another well-known poker brand to the MPN. RedKings are joining a growing and healthy network that is committed to the player experience, offering a raft of exciting tournaments and thrilling promotions. Welcome to the MPN, your new home."
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Pragmatic Play introduces Bingo Blast
Pragmatic Play, a leading content provider to the gaming industry, has unveiled its explosive new title, Bingo Blast.
A new and unique mobile-first game, Bingo Blast was designed to bridge the gap between those who love classic bingo and those who appreciate a fast iGaming experience. The original title, designed in-house and only available with Pragmatic Play, offers players a game which is 3-4 times faster than the average 90-ball bingo variant which makes it perfect for playing on the go.
Players simply buy tickets for Bingo Blast as they would normally would, via a quick and easy purchase panel. Then, they enter the game with the first blast resulting in balls exploding across the screen. From there, players are swiftly taken through another blast before jumping to the final round where balls continue to drop at a rapid-fire pace until there is a winner.
Claire McDaid, Vice President of Bingo at Pragmatic Play said: “Bingo Blast is the latest addition to our collection of innovative games, and its high-velocity gameplay makes it a force to be reckoned with.
“Featuring engaging visuals, and the well-crafted gamification for which Pragmatic Play is renowned, it’s classic bingo for modern times, and I know it will be a huge hit with players.”
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Brand Affiliates introduces Target Slots
Brand Affiliates has a strong network of bingo and casino brands under its belt across. With their goal to optimize growth and acquisition with online gaming brands, they recently partnered with Jumpman Affiliates to serve with its Ad Serving Solution and assist the brand with its marketing initiatives.
Target Slots is its latest addition touted to offer some of the most exciting & diverse range of games for slot aficionados including Red Tiger Gaming, Microgaming and NetEnt. Target Slots offers popular casino games such as Fluffy Favourites, Reel Talent, Cash of Kingdoms and new releases aplenty.
Target Slots is giving newbies up to 500 free spins on the Mega Reel on their first deposit of £10. Besides the unrivaled welcome bonus, new players can take advantage of ‘Newbies Cashback Boost’ promotion. New players can make use of a 1% weekly double real cashback with the possibility to increase it by 20% on reaching the Legend VIP level within the first month of playing.
Additionally, there are dozens of other ways to unlock free spins and bonuses. By completing fun tasks, players get to unlock special trophies and free spins.
Target Slots blends the latest technology with its exciting slots game offerings. SG Head of Affiliates of Target Slots said, “We are thrilled to launch our brand new casino site Target Slots. Largely our vision is to drive our array of slot games and highly efficient marketing resulting in deals for affiliates who join Target Slots. We are confident with Target Slots, 2019 will be a breakthrough year for us."
The brand has ensured their site is mobile optimized giving players the advantage to play at their convenience.
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SBTech launches omni-channel solution with Etoto
Polish sports betting operator Etoto has gone live with SBTech's gaming platform, following the launch of a new retail offering that unites its online business and land-based network. With a fast-growing online presence and retail locations across Poland, Etoto is an up-and-coming operator in its home market.
In addition to competitive odds and engaging content covering a wide range of sports, SBTech's cashier and self-serving betting terminal (SSBT) interfaces will integrate retail cash and voucher processing, unifying the user experience and improving efficiency for deposits and withdrawals. The operator is also taking advantage of single-console management of all retail operations, real-time player analysis, round-the-clock operational support and advanced reporting protocols.
The launch of Etoto's online and retail solutions marks another entry into a regulated market for SBTech, which enjoys a reputation as the provider of choice for operators in the world's most dynamic and competitive territories.
Richard Carter, CEO of SBTech, commented, "SBTech's omni-channel offering has emerged as one of our key growth drivers, with more operators now looking to achieve increased loyalty, higher lifetime value and reduced churn. As our activities in Eastern Europe expand, I'm delighted to strengthen our partnership with Etoto and fully expect this ambitious operator to rapidly achieve its full potential."
Etoto COO Piotr Rogowski added, "The wide sportsbook offering from SBTech, especially in terms of in-play betting, was the decisive factor in our decision to create this partnership. Delivering a superior experience to our fast-growing customer base is central to our strategy, and the company's unique expertise in delivering a wide range of managed services, as well as the flexibility and scalability of its products, give us great confidence about this next chapter of our story."
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