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The first of its kind, CASINO GAMING TECHNOLOGY explores the systems and technologies crucial to casino operations. Offering broad coverage, it traces the evolution of technology in slots, tables, casino cage, marketing, security, and miscellaneous systems like race/simulcast and sports book. ATLANTIC CITY, N.J. (AP) — Bally’s Corp. Has purchased a sports betting technology company for $125 million and has finalized the purchase of a casino in Atlantic City.
ATLANTIC CITY, N.J. (AP) — Bally’s Corp. has purchased a sports betting technology company for $125 million and has finalized the purchase of a casino in Atlantic City.
The transactions, both announced Wednesday night, give the Rhode Island company formerly known as Twin River Worldwide Holdings a solid place in the sports betting and physical casino markets as it rapidly expands across the U.S.
Bally’s bought Bet.Works, a sports betting platform provider to operators in New Jersey, Iowa, Indiana and Colorado.
“This is the next step in our company’s evolution,” said Soo Kim, chairman of the company’s Board of Directors. “By combining our expanding national footprint of casinos, the recently acquired Bally’s brand, and Bet.Works’ proprietary technology stack, we have evolved in just a few short years from a regional casino operator into the first U.S. gaming company committed to serving our customers with an omni-channel approach, combining the best of our physical properties with a superior online experience.”
Over the past two years, Bally’s has been on a buying spree with the goal of transforming from a small regional casino company to a national player in the gambling industry. It will have 14 casinos in 10 states once all pending transactions are completed.
The company also recently bought the Bally’s brand and renamed itself.
It finalized its purchase of Bally’s casino in Atlantic City from Caesars Entertainment and a related entity, VICI Properties, for $25 million.
In a research note issued shortly before the latest transactions were announced, the Macquarie Group said sports betting and internet gambling will be key strengths for Bally’s.
“A two-property company less than 5 years ago, the $900 million market cap Bally’s Corp. has completely transformed the portfolio to 14 assets through $950 million of spending in the last two years,” the firm wrote. “We believe online gaming is the hidden treasure of the company.”
Bally’s plans to split itself into two divisions: “Bally’s Casinos,” comprising physical gambling and entertainment properties, and “Bally’s Interactive,” which will include new and existing contracts for sports betting and internet gambling, including all of Bet.Works’ sports betting operations.
The Bet.Works purchase should close in the first quarter of 2021.
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The online gambling industry is on the rise. According to Market Watch, the global online gambling market is set to be worth $74 billion by 2023. This is because of the increasing availability of mobile casino apps across the US, UK, Italy, China, and SAR countries. As the audience for online gambling widens, more mobile casino technology innovations are emerging to advance its growth.
So with that in mind, here are five ongoing mobile casino technology trends that have the potential to transform the industry, and your gaming experience:
Cloud gaming technology
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In a previous story here, we talked about how cloud gaming has helped online casinos. With cloud services, you can play games online without having to download any apps. Here, the internet does all the heavy lifting so that your phone won’t have to.
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This brings you in faster speeds and smoother gameplay. But the drawback to mobile streaming of cloud casino games is that you’ll use a lot of data.
Virtual reality gaming
VR is already making gaming more immersive. While the more expensive headsets and software are reserved for high-tech laptops and equipment, there is still more affordable VR gear made for mobile gaming. With VR mobile gaming as an option in many online casinos, you can transport yourself to virtual worlds to play exciting slot and card games.
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Cryptocurrency casinos
Due to the rising popularity of Bitcoin and other cryptocurrencies, many online casinos have started to accept cryptocurrencies as payments. But more than adding payment options, the blockchain technology behind cryptocurrency offers several benefits for online platforms to adopt as well.
Blockchain essentially works like a public spreadsheet that’s distributed across numerous networks. All cryptocurrency transactions are recorded in real-time. And because each transaction is sealed with cryptography in a decentralized system, the risks of fraud are very minimal. This can provide assurance for those worried about spending crypto and the cybersecurity in mobile casino gaming.
Artificial Intelligence (AI)
Whether you realize it or not, artificial intelligence (AI) technology has already become a part of your daily life. If Netflix gives you movie or series recommendations, that’s AI at work. If you notice that your Google search results are somewhat personalized or similar to what you have browsed before, that’s also because of AI.
AI chat bots or mobile virtual assistants are now commonly deployed as customer service support, in order for people to be looked after instantly. Customer support is an important aspect of online casinos, especially since they can help build your trust. It’s common for players to be wary of online gaming at first due to fraud and security risks, but a reliable customer support team can help ease those concerns.
Live-play mobile casino technology
If you don’t have to time to visit land-based casinos, you can still get a similar gambling experience through live dealers and real-time feeds on mobile apps. Online casino gaming magazine ExpatBets details how live dealers have a special appeal in several Asian countries like Malaysia, Thailand, and China.
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When it comes to online gambling trends, the US and the UK usually lead the pack, but the fact that it’s available in newer gaming regions is a testament to the demand for live dealers in online casinos.
These are just a few of the biggest mobile casino technology trends. You’ll see even more mobile casino trends and gaming innovations every year, so keep watching this space — or better yet, dive right in and see what’s new in mobile casino gaming yourself.
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