Scientific Games, the self-described “world leader in entertainment, offering dynamic games, systems and services for casino, lottery, social gaming, online gaming and sports betting” was busy the last couple of weeks expanding their reach and acquiring a potentially-game changing product that could set them apart within the exploding global sports betting scene.
Thanks to a recently forged relationship with WynnBET, the online division of top-tier casino operator, Wynn Resorts, Scientific Games betting solutions have gone live in Indiana, Virginia and Tennessee. Over that time, Scientific Games was able to strengthen their offerings with the purchase SportCast, which has long been on the cutting edge of global sports betting technology.
WynnBET relationship
WynnBET is the latest top-tier sports betting company to team up with Scientific Games to provide elite quality legal sports betting opportunities to three states that currently sit in the top-10 of bet-friendly states in the US.
The newfound relationship is a boon for both companies – WynnBET gets the comfort of arguably the most successful tech service-provider for sportsbooks and Scientific Games gets the increased exposure necessary to set them apart in the increasingly competitive US legal sports betting market.
Scientific Games’ sports betting solution allows WynnBET users the benefit of the proprietary OpenSports product suite which is described by the company as an “enhanced stack of solutions and speed to market delivery with player experience at the core of the proposition.”
It offers customers a modular portfolio of products that can be mixed and matched to meet specific needs.
Cathryn Lai, SVP and GM U.S., Digital at Scientific Games, said: “Three new state launches in quick succession showcases the huge craving for sports betting experiences on the biggest sporting events throughout the U.S. and beyond. This is an exciting and important milestone in our partnership with WynnBET. These launches are also a testament to the power of OpenSports, with the platform ready to take the player offering in these three states to new heights.”
SportCast Addition
Scientific Games not only sought to increase their reach the last couple of week but also signaled their intention of strengthening their brand with the acquisition of SportCast, the global leader in sports betting player engagement through their product experiences, technologies and pricing.
SportCast seeks to enhance Scientific Games’ OpenSports product suite with BetBuilder, which allows bettors to build their wagers across multiple markets on a single sporting event with instant pricing. SportCast’s technology is currently capable of processing over 12,000 bets per second for every major global sport.
With the growth of pre-match, in-play and same-game parlays in the exploding US legal sports betting space, the enhancement of technology supporting such trends is seen as crucial going forward.
Keith O’Loughlin, EVP Sports for Scientific Games commented, “For sports fans, the ability to define the story of game, bet on it and watch it live has become a thrilling way to engage in the action. SportCast’s technology and platforms will help us fuel the next wave of our data-driven, global sports expansion. The award-winning BetBuilder product is just the first of many innovative products that can be powered by the underlying platform for the benefit of our customers and we’re thrilled to be able to roll these out.”
The SportCast proprietary technology is currently being used by such provider Heavyweights as BetMGM, PointsBet, SkyBet, Tabcorp, Entain, 888, Betsson, Danske Spil, Nederlandse Loterij and British Columbia Lottery Corporation.
How the Markets Have Reacted
Scientific Games has long been on the radar of the stock market insiders and recently, the Zacks rating system, a tool often used by investors and strong indicator of a company’s overall standing in the markets has upgraded their stock to a “Buy”. Scientific Games’s earning have maintained growth and their path has been lauded by many industry insiders.
Zacks is just one of the companies expressing confidence about the trajectory of Scientific Games stock. The legal sports betting space is heating up dramatically and technology, particularly with mobile betting apps is the main driver of the incredible recent rise.
The arrow on Scientific Games is pointing way up as we head into the summer of 2021. More markets within the US are schedule to come online by fall, and soon, nearly 50% of Americans will legally be allowed to place a bet. That leaves room for a ton more growth for not only the US scene but for integral technology providers like Scientific Games.
Calculators
