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CANTON, Ohio, April 17, 2019 (GLOBE NEWSWIRE) -- Concrete Leveling Systems, Inc. (“CLEV”), is pleased to announce the Grand Opening of Wayne Allyn Root's VegasWINNERS.com website. (www.vegaswinners.com).
VEGAS WINNERS, INC and the rapid growth of the sports betting industry.
On February 2, 2018, the Philadelphia Eagles defeated the New England Patriots 41 – 33 to win Super Bowl LII. The game was played in front of 67,600 fans at U S Bank Stadium in Minneapolis, Minnesota. It is estimated that $15 BIL was wagered in the U S on the outcome of that Super Bowl and March Madness. Of note is the fact that only 3% of that $15 BIL was bet legally with Nevada sport books, the only way in the U S to legally make a sports bet at that time. Therefore, 97% of that $15 BIL was bet illegally with on line, off shore bookmakers, or local bookies.
On May 18, 2018 the U S Supreme Court struck down a 1992 law opening the door for every state to pass legislation to allow legal sports wagering within that states borders. PricewaterhouseCoopers estimates the size of a fully developed U S sports betting market at $100 - $200 BIL. The National Impact Study Commission suggested that figure could be closer to $400 BIL. By comparison, the alcohol industry is estimated to be a $250 BIL year market, and the legal cannabis industry is estimated to reach $146 BIL by 2025. Since the May 2018 Supreme Court ruling, 10 states have passed sports betting legislation, 21 more states are in the process of passing the necessary legislation, and it is expected that as many as 40 states will have enacted sports betting legislation by 2020.
In 2018, Oxford Economics (a commercial venture of Oxford University Business College) as commissioned by The American Gaming Association, determined that if sports betting were legalized only at physical casinos and retail outlets (as opposed to online and mobile devices) that the tax revenues generated would range between $4.8 - $5.3 BIL and the industry would support more than 152,000 jobs. It further stated that if states were to offer intra state mobile betting on smart phones as in Nevada, those projections would increase dramatically.
Today sports betting is generally considered a socially acceptable activity. The most obvious reason is the financial reward, however, bettors also claim that it is a form of entertainment, fun, and provides them with a sense satisfaction.
It is estimated that the global sports betting market could reach $700 BIL to $1 TRILLION by 2020. With a population of 4 BIL people, the Asian Pacific (APAC) market accounts for 47% of the world’s sports wagers. This is due to the APAC’s increased wealth, disposable income for leisure activities, and the convenience of digital connectivity. The internet and smart phone technology make it easy for a sports fan and bettor to have quick access to information, data, research, analysis, selections (picks), and the ability to readily and quickly place a bet.
Research found that 20% of sports bets are made via mobile devices. This figure is projected to be upwards of 45% by 2020. Other areas of the world also embrace sports betting, such as Australia and the UK. It is interesting to note that there are 5500 individual sports betting outlets in the UK in comparison to approximately 5500 Domino’s Pizza stores across the U S. A true “consumer phenomenon”.
Sports fans/bettors are like “an audience” wanting experiences in and from their activities. The ease of online and smart mobile devices, coupled with the advent on “in-game wagering” and fantasy sports leagues provides the bettor with the opportunity of participating in ongoing experiences in most sporting events. These “tools” allow the fan/bettor to become more of a participant than a bystander merely waiting for the “final score”.
If following an industry leader is a precursor to success, take note of the following. MGM, the largest casino operator in the U S, is looking to corner the market on sports betting. They recently entered into an agreement with Boyd Gaming to grant each other access to their respective properties to offer online and mobile gaming platforms including sports betting, casino gaming, and poker wherever they have a license available. That amounts to 15 states, including some of the most lucrative U S markets. They also entered into a $200 MIL joint venture with GVC Holdings, PLC, the largest global online betting operator, to create a world class sports betting and online gaming platform. GVC owns Sportingbet, partypoker, Bwin, and Ladbrokes Coral Group PLC, all land based and website betting locations with licenses in more than 20 countries. To further penetrate the sports betting marketplace, MGM has entered into partnership agreements with the NBA, WNBA, NHL, MLS, and MLB. MGM is “betting” that gamblers will gravitate toward a brand name company that offers state of the art betting platforms with official team logos, and one that has a clear partnership with the respective sports leagues.
Jericho Associates, Inc acquired Vegas Winners, Inc (“VWI”) in response to the May 2018 Supreme Court ruling and in conjunction with its mission statement of growth in the casino, gaming, hospitality, and entertainment industries. VWI is run by Wayne Allyn Root, its CEO. Wayne is a nationally recognized sports expert and handicapper for over 30 years, an author, and a well known high profile radio and television personality. His career has been profiled on CNBC, ABC, NBC, Fortune, Financial Times of London, and The Wall Street Journal. He is the only Las Vegas oddsmaker/handicapper awarded a star on the Las Vegas Walk of Stars. Mr. Root also serves as Senior VP of Marketing, Media, Entertainment and Communications for parent company Jericho Associates, Inc, a division of publicly traded Concrete Leveling Systems, Inc (OTC PINK: CLEV)
VWI is NOT in the high risk business of accepting wagers or bets. It does, however, provide and sell to its subscribers, sports information, data, research, and professional selections (picks) through its interactive website. Remember the California gold rush in 1848 – 1855. Over 300,000 “49ers” invaded California seeking to get rich mining gold. The gold rush lasted 7 years, few got rich, and the miners disappeared. The big winners were the companies that sold supplies to the miners – shovels, boots, jeans (think Levi Straus), and “picks”. Gold mining made very few people rich; it was the suppliers who profited. VWI proposes to build a replica of the Levi Straus model and capitalize on the “modern day gold rush” of legalized sports betting across the US as well as globally by supplying the (winning) “picks” to the growing number of sports betters seeking information, data, research, and selections (“picks”).
The Vegas Winners website www.vegaswinners.com commenced operations in November 2018. The immediate goal was to fine tune the interactive website, develop an internet presence, and test marketing and advertising venues and to prepare for a Grand Opening in September 2019, concurrent with the start of the 2019 – 2020 National Football season. The initial “test” proved successful and VWI is now preparing for its Grand Opening.
While continuing its organic and global development, VWI management is in discussions regarding a partnership, joint venture, or acquisition with a value added company that offers not only sports wagering information and selections, but also Fantasy Sports analysis and in game “proposition” selections. VWI is also collecting data and diligence on a unique and synergistic “fan based” sports opportunity.
We appreciate the support of our stockholders as we seek projects to enhance enterprise and shareholder value. We will continue to update our stockholders on company developments and events.
Ronald J. Tassinari
Safe Harbor Statement
Forward Looking Statements of the U.S. federal securities laws, which statements may include information regarding the plans, intentions, expectations, future financial performance, or future operating performance of Concrete Leveling Systems, Inc. ("CLEV" or the "Company"). Forward-looking statements are based on the expectations, estimates, or projections of the Company's management as of the date of this press release. Although the Company's management believes these expectations, estimates, or projections to be reasonable as of the date of this presentation, forward-looking statements are inherently subject to significant business risks, economic and competitive uncertainties, or other contingencies, which could cause the Company's actual results or performance to differ materially from what may be expressed or implied in the forward-looking statements. Important factors that could cause the Company's actual results or performance to differ materially from the forward-looking statements include those set forth in the "Risk Factors" sections in the Company's filings with the Securities and Exchange Commission, which are available for viewing on the SEC's EDGAR website. These forward-looking statements speak only as of the date of this press release and, except as required by law, the Company specifically disclaims any obligation to update these forward-looking statements, even if new information becomes available in the future.