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Empire Resorts and bet365 Forge Strategic Alliance to Offer Sports Betting and Online Gaming in New York State at Resorts World Catskills
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- Collaboration Between New York’s Premier Integrated Commercial Casino Resort Destination and World’s Largest Online Sports Betting Operator Positions Resorts World Catskills as Leading NY State Sports Betting and Gaming Destination
- bet365 to Invest up to $50 Million to Become Empire Resorts, Inc.’s Second Largest Shareholder
- Kien Huat Realty III, Ltd. Commits up to $126 Million Investment via Convertible Preferred Stock
Empire Resorts, Inc. (NasdaqGM: NYNY) (together with its subsidiaries, “Empire”) and an affiliate of bet365 Group Limited (“bet365”) today announced a strategic alliance to develop a physical and online sportsbook in New York State at Resorts World Catskills, New York’s newest and largest integrated commercial casino resort destination with closest proximity to Manhattan. Empire and an affiliate of bet365, the world’s largest online sports bookmaker, entered into a 20-year agreement (the “Sports Wagering Agreement”) to offer retail sports betting, an online sportsbook and online gaming at Resorts World Catskills if and when permitted by applicable law. Under the Sports Wagering Agreement, Empire and bet365 will establish New York’s premier sports betting and online gaming option. This agreement provides for the companies to share profits 50/50 after bet365 recoups its start-up and other costs.
In connection with the Sports Wagering Agreement, an affiliate of bet365 will acquire up to $50 million of Empire common stock at a price of $20 per share in two tranches, making it Empire’s second largest stockholder.
Additionally, Kien Huat Realty III, Ltd. (“Kien Huat”), Empire’s largest stockholder, has committed to purchase up to $126 million of convertible preferred stock, with a conversion price of $20 per share. The investment by bet365 and the commitment by Kien Huat strengthens Empire’s financial position and underscores Kien Huat’s view of the potential for value creation in Empire’s Resorts World Catskills.
Resorts World Catskills is one of only four commercial casinos in New York State currently authorized by statute to offer retail sports betting pending the promulgation of regulations. Resorts World Catskills is ideally positioned to offer sports betting with the expertise of bet365, which is ranked No. 1 in sportsbook revenues globally with annual revenues of over $3 billion and No. 1 in the EGR Global Power 50 rankings from 2010 to 2017. bet365 operates a highly successful in-play betting product with a scalable and growing mobile platform.
“Joining forces with bet365 positions Empire and our flagship Resorts World Catskills to lead a potentially enormous new market,” said Manny Pearlman, Executive Chairman of Empire Resorts, Inc. “bet365’s global expertise in effectively developing and executing world-class sportsbooks strongly complements Empire’s leadership in commercial casino operations in New York. This collaboration, which will enable Resorts World Catskills to be a leading destination for sports wagering in New York State, highlights our commitment to the continued growth of Resorts World Catskills, as well as our dedication to working with the best, most innovative pioneers in the industry to provide world-class gaming options.”
The alliance provides bet365 access to the New York State sports wagering market, which, according to market estimates by Eilers & Krejcik Gaming LLC, is expected to be the single largest market jurisdiction for sports betting in the United States other than California, with projections for more than $1 billion in annual revenues from sports betting within five years of legalization.1 Following the announcement of a market access deal in New Jersey earlier this year, bet365 is well positioned for sports betting expansion into New York State.
“This landmark agreement, which combines Empire’s gaming operating skill with our expertise in providing best-in-class online sports betting, allows bet365 to tap into what we believe will be one of the most significant online and sportsbook markets in the United States,” said Simon Betteley, President of Hillside (New York) LLC, a bet365 affiliate.
The alliance with bet365 is the next phase of Resorts World Catskills’ growth, including the addition of a new hotel with two dining and entertainment venues by the end of the year. In 2019, two additional hospitality venues are expected to open at the destination resort in which Resorts World Catskills is located. The Kartrite Hotel and Indoor Waterpark is scheduled to open in the first quarter of 2019, and a Rees Jones redesign of the well-known Monster golf course will debut in the second half of 2019.
Following its initial investment, which closed today, an affiliate of bet365 will own approximately 4.9% of Empire’s outstanding common stock. Pursuant to the Sports Wagering Agreement, the parties expect to use the bet365 brand and online consumer facing sports betting and digital platform.
Moelis & Company LLC acted as financial advisor and Milbank Tweed Hadley & McCloy LLP, Sidley Austin LLP, Ellenoff Grossman & Schole LLP and Fox Rothschild LLP acted as legal counsel to Empire Resorts, Inc. Brownstein Hyatt Farber Schreck LLP acted as legal counsel to bet365 Group Limited.
Source: Latest News on European Gaming Media Network
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Nagoshi Studio Unveils GANG OF DRAGON, a New Action-Adventure Game from Director Toshihiro Nagoshi
Steam page: store.steampowered.com/app/4146000/
GANG OF DRAGON
is a new action-adventure game set in Kabukicho, Shinjuku, Tokyo’s iconic nightlife district. Protagonist Shin Ji-seong is a high-ranking member of a Korean crime syndicate, and is portrayed by celebrated Korean actor Ma Dong-seok (Don Lee).This new story will engage players in an exciting way and showcase increadible graphics for an action packed adventure. Viewers of The Game Awards were the first to get a look at the new footage!
About Toshihiro Nagoshi
The post Nagoshi Studio Unveils GANG OF DRAGON, a New Action-Adventure Game from Director Toshihiro Nagoshi appeared first on Gaming and Gambling Industry Newsroom.
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Blask & Gamblers Connect Enter A New Media Partnership
Gamblers Connect, the award-winning iGaming affiliate and media platform, is proud to announce a new media partnership with Blask, a leading AI-powered analytics ecosystem dedicated to the iGaming industry.
This collaboration marks a pivotal step in the company’s mission to provide the most accurate, transparent, and data-backed content. Under the terms of this agreement, Blask will provide Gamblers Connect with complete access to its cutting-edge market intelligence platform.
This suite includes the Blask Index and real-time data tracking across more than 100 jurisdictions, allowing for granular analysis of market dynamics, brand performance, and player behaviour. By integrating these professional-grade tools into the editorial process, Gamblers Connect will elevate the depth and precision of its industry reporting.
The cornerstone of this partnership is a commitment to sharing knowledge with the wider iGaming community. Gamblers Connect will produce four exclusive case studies throughout 2026. Released once per quarter, these comprehensive reports will utilise Blask’s advanced analytics to uncover emerging trends, benchmark operator performance, and provide actionable insights for industry stakeholders.
This alliance represents a shared vision for a more transparent iGaming sector. By combining Blask’s technological prowess with Gamblers Connect’s editorial expertise, the aim is to set a new standard for data-driven journalism.
Max Tesla, Blask CEO, commented: “Partnering with Gamblers Connect is a natural step for Blask. We are building an ecosystem of transparent analytics that empowers the industry, and GC is one of the few media partners that truly values data and knows how to work with it. I’m confident this collaboration will strengthen both sides and deliver more accurate, trustworthy, and insight-driven content to the iGaming community.”
Gjorgje Ristikj, Founder & CEO at Gamblers Connect, added: “Partnering with Blask allows us to combine their strong analytical framework with our media expertise. It’s a collaboration grounded in trust and mutual respect, with the shared goal of delivering meaningful and measurable results to the industry.”
The post Blask & Gamblers Connect Enter A New Media Partnership appeared first on Gaming and Gambling Industry Newsroom.
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Law enforcement officers from Kazakhstan eliminated the organized financial criminal group organized by Vadim Gordievsky, Larisa Ivchenko, and Alyona Suvorova from Ukraine
The law enforcement agencies of Kazakhstan have effectively eliminated the organized criminal group created by Vadim Gordievsky from Ukraine and his accomplices, Larisa Ivchenko and Alyona Suvorova. Even though the law enforcement agencies managed to block accounts and payments of the Marginplus Company, key employees and management are still hiding.
According to the media, just a few days ago, the Financial Monitoring Agency of the Republic of Kazakhstan revealed a large-scale shady scheme of cross-border transfers that involved numerous payment organizations and providers. The funds were disguised as legal transactions and withdrawn to the accounts of online casinos. The total volume of illegal transactions exceeded more than $1 billion.
According to law enforcement authorities in the Republic of Kazakhstan, the key organizer of the miscoding scheme, which involved bookmakers, online casinos, payment organizations, and bank employees, is Vadim Ivanovich Gordievsky from Ukraine, who was born in 1974. He was the leader of the organized criminal group and used the local Marginplus Company for these purposes (official website: marginplus.kz). In addition to companies from Kazakhstan, Gordievsky also worked with illegal Russian online casinos while helping them to facilitate illegal payments.
According to new information from law enforcement agencies in the Republic of Kazakhstan, banks and bookmakers, including the local PIN-UP bookmaker, have already terminated all cooperation with Gordievsky’s Marginplus company.
According to informburo.kz, the local licensed Pin-Up.Kz bookmaker (legal entity: Bonami LLP) declares that it has nothing to do with transactions carried out by individual payment organizations. Judicial and criminal proceedings have already been initiated against these structures, and the company itself is fully cooperating with law enforcement agencies to establish all the circumstances and identify fraudulent, shady schemes.
According to unofficial information, the Pin-Up management provided the law enforcement agencies of the Republic of Kazakhstan with all the data related to the Marginplus company belonging to Vadim Gordievsky.
As of today, all financial activities of Marginplus have been paralyzed. In addition, large amounts of money have been blocked in its bank accounts. This money should have been paid to partners, contractors, and providers, including the local Parimatch betting company. Ordinary employees of Vadim Gordievsky’s company are already looking for new work while its management, including Larisa Vladimirovna Ivchenko (listed as the head of Gordievsky’s FC Alta Capital from Ukraine), is still hiding. Alyona (Elena) Suvorova has already closed and renamed her social media profiles a few days ago. In addition, she does not respond to messages and is trying to evade responsibility.
We would like to remind the audience that Alyona Suvorova positions herself “as an entrepreneur, investor, and a crypto trader with 5+ years of experience.” According to Suvorova herself, she has been developing payment technologies in the field of FinTech for 10 years. In 2021, she opened her own business for international crypto transfers. In addition, she is the founder of the Lemoncoin Crypto Academy.
According to investigators, Gordievsky’s partner, Mikhail Kovalev (Mykhaylo Kovalov), who is a citizen of both Ukraine and Israel, as well as an owner of a number of companies in the EU, in particular, in Poland, and who has a residence permit in Spain, was closely working with Gordievsky. By using the STABLEX SOLUTION Sp. z o. o fictitious company (official website: solvexs.pl) in Poland, he was engaged in illegal payments and withdrawal of cryptocurrencies into fiat money.
At the same time, as the source notes, the mentioned management and the people involved in the money laundering of Marginplus Company will be added to the wanted list of Interpol in the nearest future. The National Security Committee of the Republic of Kazakhstan has also announced that it’s going to closely monitor this case. According to local laws, participants of this shady scheme face up to nine years in prison. Information on Vadim Gordievsky’s companies and connections in other countries is also being checked.
After the initiation of criminal cases for financial crimes, fraud, and the announcement of his wanted list by the Ministry of Internal Affairs, Vadim Gordievsky left Ukraine on forged documents. Before diving into the world of financial fraud, he was involved in land and property issues in the Kyiv region. As of today, numerous criminal cases have been initiated.
The post Law enforcement officers from Kazakhstan eliminated the organized financial criminal group organized by Vadim Gordievsky, Larisa Ivchenko, and Alyona Suvorova from Ukraine appeared first on Gaming and Gambling Industry Newsroom.
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