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India’s Leading Casino Site: Pinnacle

India’s Leading Casino Site: Pinnacle – Sports betting software provider Pinnacle Solutions is furthering the use of blockchain in the sports betting sector. It has partnered with the Azuro platform, a decentralized betting solution.

Mohamed Salah and Roberto Firmino of Liverpool celebrate a goal in a match last season. Betting and betting on soccer and other sports on a blockchain-based platform will be fueled by a new partnership between Pinnacle Solutions and Azuro. (Image: Getty Images)

India’s Leading Casino Site: Pinnacle

India's Leading Casino Site: Pinnacle

Through the partnership, Pinnacle will provide its games and esports value for further distribution to Azuro, according to a company press release. Thereafter, operators connected to Azuro’s blockchain protocol will have access to the feeds.

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Deployed across multiple blockchains, the Azuro protocol facilitates interactions between independent data providers and operators. The network reliably provides thousands of pure betting markets to end users using smart contracts to improve the convenience and integrity of transactions.

As one of the first data providers on the Azuro protocol, Pinnacle Solutions will contribute to bringing its global sports event reference pricing capabilities to users. All front-end and back-end activities are processed securely and continuously in a chain. As the project is still in its early stages, access via major cryptocurrencies such as Ethereum is not available while testing is ongoing.

Azuro is billed as the first decentralized, blockchain-based betting solution. Pinnacle’s entry into the network will allow it to advance the use of blockchain in mainstream betting and attract new interest.

This partnership with Azuro is a prime example of how blockchain can move our industry forward. We are excited to integrate our pricing into the ecosystem and provide a user base of decentralized bookmakers across multiple jurisdictions with our world-class pricing,” said Rohini Sardana, Director, Pinnacle Solutions BD.

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Pinnacle’s established presence in the eSports ecosystem will also fuel the initiative. Grandview Research data pegs the esports space at another $2.1 billion last year. It is experiencing a compound annual growth rate (CAGR) of 21.9%, which will continue till 2030. As a result, interest from operators will also grow rapidly.

Azuro is now available for game providers and operators. The new Pinnacle Solutions channel will be joining in the next few weeks.

The Pinnacle-Azuro solution will expand the use of blockchain in sports betting where there is a need. However, there have been previous initiatives to capitalize on the benefits of blockchain to give the technology a more prominent place in the gaming space.

India's Leading Casino Site: Pinnacle

Recently, a decentralized betting site has emerged that fully utilizes blockchain technology, accepting bets on football and eSports. Like Pinnacle’s Solution, it also runs on Azure.

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Thanks to blockchain technology, all transactions on the site are carried out without centralization and provide anonymity and security for users. In addition, the bookmaker may provide better odds. It is impossible to change information once it is recorded on the blockchain. Bettors and operators have confidence in the data presented, including odds, payouts and more.

Apart from Football and eSports, Tennis and MMA betting will soon be available on Players need a Web3 enabled wallet such as MetaMask to connect to the bookie’s platform in order to place bets.

There is also Betdex, a decentralized sports betting protocol that arrived last November. Its developers are still refining the system. But Betdex is bringing in former FanDuel executives to give it a strong start. FanDuel co-founders Nigel Eccles, Varun Sudhakar and Stuart Toner are leading the project. FTC signs off on Pinnacle’s $2.8 billion acquisition of Penn National conditioned on Boyd sale

The US Federal Trade Commission (FTC) this week proposed that Penn National Gaming (PNG) acquire Pinnacle Entertainment for $2.8 billion, a deal that would strengthen PNG’s position as the largest US regional gaming operator .

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The FTC’s approval is contingent on the sale of four Boyd Gaming properties, including the Ameristar in Kansas City, Missouri (pictured). There were concerns that the commission would seek additional sales of Pinnacle properties. (Image: Pinnacle Entertainment)

Upon completion, the Pennsylvania-based company will have 41 properties in its portfolio. It will operate approximately 53,500 slots and 1,300 table games and own 8,300 hotel rooms in 20 US jurisdictions.

The FTC’s approval to avoid antitrust concerns is contingent on the sale of four properties to Nevada-based Boyd Gaming — Ameristar Kansas City and Ameristar St. Charles in Missouri, Beltera in Indiana and Beltera Park in Ohio.

India's Leading Casino Site: Pinnacle

PNG will acquire 12 of Pinnacle’s 16 properties, thus expanding its presence in Iowa, Mississippi, Missouri, Colorado, Louisiana, Nevada and Pennsylvania.

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Antitrust or competition laws regulate companies to protect market competition for the benefit of consumers. Among other things, the FTC’s job is to prevent the creation of monopolies or near-monopolies – companies that are too dominant in a single market – through mergers or acquisitions.

PNG already operates two in Missouri, as well as one across the border in Kansas City, Kansas, and will acquire three more from Pinnacle. Indiana and Ohio had similar problems surrounding the concentration of ownership.

Anticipating a potential fly in the ointment, PNG and Pinnacle agreed in 2017 to sell four properties to Nevada-based Boyd for $575 million.

However, the FTC gave PNG and Pinnacle a little sweat. In March, the commission took the relatively unusual step of issuing a second request for information to both companies.

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Since this happens about two percent of the time, it suggests that the FTC has serious concerns about the deal, speculating that it may need more asset sales before approving — or worse, it may not be approved. Cancel it completely.

The deal was further complicated by the fact that both companies own properties in the same real estate investment trust (REIT), leisure and gaming properties. The investment vehicle was created by PNG as a separate company in 2013.

The apprehension turned out to be unfounded. Despite the delay, both companies still expect to finalize the transaction within the original Q4 time frame.

India's Leading Casino Site: Pinnacle

The complex transaction requires regulatory approval in each of the 14 states where Pinnacle operates. Completion of the acquisition is now subject to the approval of only one jurisdiction, Nevada. From ancient Greek times, through the rule of the Roman Empire and into the eras of Napoleonic France and Elizabethan England, most of these have been inspired by tales of gambling-based entertainment. It later became known as gambling when it was first known to Europeans.

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It was opened in Venice, Italy as a seasonal establishment by the Grand Council of Venice in 1638, when the popular carnivals were first introduced to the city of Venice.

Centuries later, the seasonal notion of gambling in the United States was ushered into a new modern era when the state of Nevada legalized casino gambling in 1931. Legalization brought the spotlight on the underground roots of gambling in what can only be described as the Las Vegas Gold Rush when mega casino hotels sprung up on South Las Vegas Boulevard in what became known as the Las Vegas Strip. This new found gold attracted some of the biggest stars such as Liberace, The Rat Pack, Elvis Presley, Celine Dion, Siegfried & Roy and Cirque du Soleil, which became known as the “Entertainment Capital of the World”.

Fast forward a few decades to today and Las Vegas now claims to be home to 32 of the world’s largest hotels, with 6 in the top 10. Originally opened in 1999, with a total of 7,117 rooms, The Venetian and The Palazzo became Vegas. The largest five-diamond luxury hotel and casino resort and the second largest in the world. The MGM Grand Las Vegas is the third largest hotel in the world by number of rooms and the largest hotel resort complex. When the MGM Grand opened in 1993, it was the largest hotel in the world. Other popular luxury hotel and casino resorts in Vegas include Mandalay Bay, Luxor Las Vegas, Caesars Palace, and Bellagio Las Vegas.

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