An exciting deal
PointsBet has chosen Evolution Gaming as its partner for live casino games in the US online gambling sector.
PointsBet currently has sports betting operations in a number of states and an online casino in Michigan. Evolution Gaming is a leading provider of live casino games and has a studio in Atlantic City, New Jersey. The two parties will work together to roll out live casino offerings for PointsBet’s online platforms going forward.
PointsBet chief innovation officer Seth Young spoke about this partnership in a press release, saying: “We are thrilled to partner with Evolution Gaming to launch Live Casino technology in US jurisdictions, where we plan to offer our proprietary online casino platform.”
PointsBet will also be able to create exclusively branded environments and tables if needed.
Evolution Gaming chief commercial officer Sebastian Johannisson spoke about how this new deal with PointsBet will help expose US players to a variety of different live casino games. PointsBet will also be able to create exclusively branded environments and tables if needed.
Forays into the US market
PointsBet first entered the US market in July 2018 when it secured an online sportsbook license in New Jersey, which launched in January 2019. It now has sports betting operations in Indiana and Iowa. PointsBet also has agreements in place to expand into other states and to launch an online casino in New Jersey. Some of its partners include the Denver Nuggets, Colorado Avalanche, Colorado Rapids, Indiana Pacers and the Detroit Tigers.
Evolution Gaming’s first foray into the US market was through the opening of its New Jersey studio in August 2018. It is currently developing a new studio in Pennsylvania, slated to open before the end of 2020. It also is developing a Michigan studio that will go live in 2021.
Popularity of live casino games
Live casino games have become increasingly popular in recent years, offering online casino players the chance to have a more immersive experience by placing bets with a real-life dealer. The live streams are more authentic than the standard online casino table games that have been available on the internet for years.
Evolution Gaming is at the forefront of this growth, with its total revenue for the first six months of 2020 increasing by 48% year-on-year, up to €243.5m ($288m). Its profits rose by 98% to €124.6m ($147.4m), representing a 51% profit margin. The company believes that the lack of sports during the pandemic provided a boost to its performance.
Evolution also has a deal in the works to purchase online casino game developer NetEnt for $2.1bn.