The entertainment business founded by iconic NFL player, Peyton Manning, Omaha Productions, has signed a lucrative deal with Caesars Entertainment.
Caesars has stressed that this is not a sponsorship deal, but rather a strategic partnership that will see the two entities launch the Omaha Audio Network that will host a series of podcasts. They also plan to create a new digital series that will feature across both their social media channels.
Members of the Caesars Rewards loyalty program will gain access to a planned live event series.
According to Manning, the former American football quarterback who played for 18 seasons, everyone at Omaha is excited to expand the relationship have the group create “compelling original content with our teammates at Caesars”.
He added that Caesars has already proven to be a great partner on other projects on which they have collaborated.
The chief marketing officer of Caesars Digital, Sharon Otterman said: “We’ll collaborate with Peyton and Omaha to conceptualize, create and produce unique content in a way that only two leaders in the sports and entertainment space can.”
“We look forward to the rollout of the Omaha Audio Network presented by Caesars Sportsbook, putting together unforgettable event experiences and crafting engaging must-see content for our customers.”
Penn National Gaming has confirmed that its sports betting brand, theScore, which it purchased last year, will be exiting the US market.
TheScore will focus on the Canadian sports betting market, where it is stronger, while Penn National’s other brand, Barstool, will remain to service US players.
These plans were announced by the president and chief executive of theScore, Benjie Levy.
“Since Penn’s acquisition of theScore, the company’s plan has been to lead with Barstool Sportsbook in the US and theScore Bet in Canada, given our strong brand equity there,” he said.
TheScore became one of the first operators to receive a license in Ontario in April this year. Levy said that with the brand thriving in the Canadian province, theScore plans to approach a major undertaking in the coming months by launching its proprietary risk and trading service.
“The timing is right to focus our US efforts on marketing Barstool Sportsbook and our Canadian efforts on marketing theScore Bet,” he said.
“This move enables us to maximize the value of both brands through our organic media and gaming approach. Key to our strategy is integrating theScore media app with Barstool Sportsbook in the US, which we’re currently working towards.”
The Virginia Lottery, the official gambling authority for the state, said that sports betting handle and sports betting revenue increased year-on-year in April, 2022.
The rise in spending came in part because more licensed operators became active in Virginia over the past year. In April 2021, there were only seven operators offering their products in the market, and this increased to 12 by April this year.
Other Key Points from the April 2022 Virginia Sports Betting Report
- Player spend amounted to $399.5 million. This was down 14.9% from $469.5 million reported in March 2022, but up 65% from the $236.4 million reported in April 2021.
- Adjusted gross gaming revenue (ie. total bets minus winnings, bonuses and promotions) soared from $11.7 million in April 2021, to $20.8 million in April 2022 – a significant 77.8% jump.
- The adjusted gross gaming revenue also increased month on month, jumping 45.5% compared to the $14.3 million reported in March 2021.
- Players won $363.2 from their sports bets placed in April 2022.
- Bonuses and promotions to the value of $11.3 million were issued to Virginian players.
- Sports betting contributed $3 million in taxes to the state in April. The vast majority of that sum was placed in the General Fun Allocation, while just over $75,000 went to the Problem Gambling Treatment and Support Fund Allocation.
The Ohio Casino Control Commission announced recently that players will be able to place their first bets on sports via apps or at in-person retail sportsbooks starting January 1st, 2023.
According to the authority, there will be three ways to place a legal bet in Ohio:
- Via a mobile app such as FanDuels or DraftKings.
- By physically going to a casino sportsbook
- At restaurants with betting kiosks.
Restaurants, bars or bowling alleys have the right to apply for two betting kiosks and they will pay $1,000 for each license.
Casinos with sportsbooks will need to pay anything between $50,000 and $100,000 for a sports betting license.
The cost for a mobile sports betting app jumps to $3 million for a 3-year license. After that, companies will need to pay $10 million for a license.
The sports betting industry will be charged a 10% tax on income, and the authority will use the proceeds to build new schools in Ohio.
The regulating body of the new licensed and legal sports betting industry will be the Ohio Gaming Commission.
It is estimated that the market will produce around $3.35 billion for the state once the industry has matured.
It will have taken Ohio over two years to put its new industry into action, after Governor Mike DeWine signed HB 29 – an act to legalize and regulate sports gaming in Ohio – into law on December 22nd, 2021.
The sports streaming service and betting operator, FuboTV has detailed the appointment of new executives to take on important roles as the company expands into new and existing markets.
Ben Grad
After joining FuboTV in 2017, Ben Grad has worked in a number of roles at the group, most recently as senior VP of content strategy and acquisition.
He will now take on the role of senior vice president and head of strategic partnerships and operations, and report to the company’s co-founder and chief executive, David Gandler.
“Ben’s understanding of FuboTV’s business, combined with his expertise and track record as a media executive, will be invaluable as we transition from a start-up to a growth-oriented media and technology company,” said Gandler.
Todd Mathers
Mathers replaces Ben Grad as senior VP for content strategy and acquisition. He will report directly to FuboTV’s chief business officer, Henry Ahn.
His new responsibilities include expanding the company’s sports, news and entertainment programming.
Andrew Steinberg
Fubo’s new VP for business development will also report to Henry Ahn.
He will grow distribution of FuboTV’s networks and check out new business opportunities.
As per Ahn, “Todd and Andrew have demonstrably helped expand and diversify the revenue streams of some of the world’s most renowned media businesses. We are excited to tap into their expertise to grow our sports entertainment content experience across multiple platforms, while managing costs for consumers and providing value for our shareholders.”