Every Friday, Covers takes a look back at the week that was in the sports betting industry. With a collection of sports betting news and notes, we intend to cover all the bases.
Wynn Resorts to receive $2.4 Billion loan for UAE Casino
Wynn Resorts has secured a $2.4 billion loan for its mega-casino and integrated resort project, Wynn Al Marjan Island, in the United Arab Emirates (UAE).
The $2.4 billion seven-year loan is in delayed draw form via the syndicate, which includes financial groups from all over the globe and ensures liquidity at each stage of project development. Wynn holds a stake of 40% in the joint venture building the resort.
The loan facility is denominated in UAE dirhams (AED) and U.S. dollars (USD) and has a competitive interest rate. Abu Dhabi Commercial Bank PJSC and Deutsche Bank AG are joint coordinators in the transaction. Other lenders participating in the deal included regional financial institutions and other global players.
The deal represents the largest amount ever in a financing deal within the UAE's hospitality sector. Once completed, the resort will include 1,542 rooms and suites, almost two dozen high-end restaurants and bars, a beach club, a shopping center, and a luxury spa.
The development will also boast considerable spaces for entertainment and events, and a beachside pool area. According to a recent update from Wynn Resorts, construction has been moving along, with 64% of structural concrete said to have been completed and the main resort tower now on the 34th floor.
The project is expected to finish by December 2025. Wynn Resorts is also seeking a downtown New York casino license, which is set to be approved at the end of 2025 to enable it to develop its Hudson Yards property.
Hard Rock Bet adds over 50 more games to NJ casino
Hard Rock Bet’s online casino platform is hitting milestone after milestone in New Jersey. After reaching a monumental 2,500 online games in the Garden State in January, Hard Rock Bet added even more, over 50 to be exact.
Joining the immense rota are games like Hit Bar. This exclusive game, manufactured by Playtech, is only available on Hard Rock Bet until March 13. The slot game offers users a potential payout of up to 1000x with spins as low as $0.10.
Joining Hit Bar is Crabbin’ for Cash Extra Big Splash Jackpot Royale. This exclusive five-reel slot game developed by White Hat Studio is available on Hard Rock Bet until Feb. 27 and includes a win multiplier of up to 20,000x. Players can also enjoy spins worth as little as $0.50.
The final exclusive offering joining Hard Rock Bet accessible to New Jersey players is Aristocrat’s Hi-Lo. Hard Rock Bet added it to its table game lineup. It's based on the traditional card game Higher or Lower, with players needing to guess if the next card is higher or lower than the card already on the table.
In addition to its ever-expanding game library, a Garden State player also won a Hard Rock Bet jackpot worth $518,438.93 in the new year, the largest jackpot win from a $1 spin in New Jersey since April 2023.
Betr onboards Integrity Compliance 360
Integrity Compliance 360 (IC360), an integrity and compliance technology provider in sports betting and online gaming, entered into a partnership with Betr, an online daily fantasy sports operator. The agreement lets Betr enhance its illicit betting detection and prevention software while continuing to meet regulatory compliance requirements.
The deal sees Betr use IC360's integrity monitoring dashboard, a real-time alert system that detects suspicious or fraudulent betting activities. This ensures continuous supervision of a pattern of bets for possible irregular activities that indicate match-fixing, insider betting, or other integrity threats.
"We're proud to partner with IC360 to strengthen our commitment to integrity and compliance in the sports betting industry. By integrating IC360's cutting-edge technology and ProhiBet solution, we are ensuring Betr remains at the forefront of creating a secure, transparent, and trustworthy betting environment for all our users,” said Alex Ursa, Head of Product at Betr.
In addition to real-time monitoring, Betr will launch ProhiBet, a solution to prevent bets by restricted individuals. ProhiBet works with its encrypted data exchange system without compromising sensitive personal and operational data.
IC360 rebranded in April 2024 after U.S. Integrity and Odds on Compliance completed its merger, launching under the new name Integrity Compliance 360. The merger's aim was to enhance compliance and integrity standards within the industry.
Play’n GO launches in Delaware with BetRiversCasino
Play’n GO collaborated with Rush Street Interactive’s online gaming platform BetRivers to launch in Delaware. It's the sixth U.S. market where Play’n GO operates since it first gained entry in 2022.
In 2024, Play’n GO added Pennsylvania and Connecticut to its list of regulated markets, with Delaware now joining. Play’n GO aims to be active in every global regulated market, with the entertainment provider releasing over 350 games in over 35 regulated markets.
“It’s fantastic to begin the year by adding yet another new regulated market in the U.S., this time in the shape of Delaware. Our expansion into the state marks yet another significant step in our U.S. growth strategy. Play’n GO continues to lead the charge in regulated markets, and we are committed to delivering our premium content to players across the country,” said Anna Mackney, the U.S. Head of Region at Play’n GO.
“We’ve already established an excellent relationship with Rush Street Interactive across the United States,” Mackney continued, “and we are confident that our partnership will continue to be mutually beneficial to both businesses as we enter yet another new market together.”
Classic Play’n GO titles like Piggy Blitz will become available to Rush Street Interactive players in the First State.
Play’n GO isn’t the only operator to go live in Delaware with BetRivers. In July, Evolution announced it also partnered with Rush Street Interactive to provide live casino games in the state.
Cover the Bases for Jan. 27-31
Cover the Bases for Jan. 20-24
Cover the Bases for Jan. 13-17
Cover the Bases for Jan. 6-10
Cover the Bases for Dec. 9-13
Cover the Bases for Dec. 2-6
Cover the Bases for Nov. 25-29
