Betting News – Page 88

December 19, 2023

STS appoints new CEO and chair following Entain CEE buy-out

STS has announced a management reshuffle with a new CEO and chairman appointed in the wake of its acquisition by Entain CEE.

Radim Haluza will become the Polish sports betting operator’s new chief executive, while also remaining as CEO of Entain CEE. Long-serving STS chief executive Mateusz Juroszek switches from that role to become chairman of the supervisory board.

The changes come four months after Entain CEE acquired STS in a £750m deal. Entain CEE is a joint venture between Entain, investment management company Emma Capital and the Juroszek Family.

ENTAIN ACQUIRED STS FOR £750M IN AUGUST 2023

Juroszek said the changes to STS management will improve structure and operations within STS and Entain CEE. Juroszek, as chairman, is charged with taking further care of the group’s strategic development.

Haluza, who takes over his new role on 1 January, is also the CEO of SuperSport, Croatia’s largest gaming and sportsbook operator. This business was bought by Entain CEE for £690m in N..

December 18, 2023

Massachusetts’ November revenue – are we seeing ESPN Bet’s first surge?

Massachusetts’ gaming revenue dropped during November despite seeing its monthly sports betting handle record smashed. More interesting, however, was Penn Interactive's surge in wagers.

Casino takings were pretty much flat compared to the previous month according to figures released by the Massachusetts Gaming Commission. However, a good month for punters saw sports betting accrual win drop by $10m compared to October.

Total taxable gaming revenue of $143.0m for all casino and sports betting was down by 7.7% compared to the $155.8m generated in the previous month.

Total sports betting revenue hit by low hold rate

In reviewing aggregated sports betting performance, Massachusetts’ eight mobile and online sports wagering licensees and the three in-person licensees generated accrual win of $50.6m.

Some $654.4m was wagered by sports bettors during November, which was up almost 15% on the $571.8m spent in October. It was 12% greater than the previous best month for Massachusetts b..

December 18, 2023

Episode 24: Victor Rocha on California’s betting ballot measure

The industry was shocked when a new California sports betting ballot measure landed after last year’s bruising fight, but Pechanga.net's Victor Rocha tells the World Series of Politics that tribes are up for the next battle.

Rocha, one of the most eloquent and influential voices in the Indian Gaming Association and host of The New Normal, tells Brendan Bussmann and Robin Harrison how any California sports betting debate will shake out.

“Smoke and mirrors”

“It’s insulting,” Rocha says of the new ballot measure, arguing it looks to drive a wedge between Californian gaming and non-gaming tribes. A set of amendments doesn’t make it any more palatable. “It’s all smoke and mirrors.

“These guys are not listening, because they don’t care. They want to go forward and they are shocked they don’t see Indians running towards them throwing flowers at their feet.”

California sports betting: All roads lead to the tribes

Gaming tribes aren’t trying to be obstructionist, he explains, in fig..

December 18, 2023

Sun International acquires Peermont in ZAR7.3bn deal

South Africa's Sun International has agreed the purchase of Peermont, including its flagship Emperors Palace resort and online brand PalaceBet.

The deal, announced on Monday, is worth ZAR7.3bn (£313m/€363.2m/$396.6m). Sun International labelled the move a “unique opportunity”, acquiring a “world-class and highly cash generative” company in Peermont.

The agreement sees Sun International obtain Peermont’s 11 properties across South Africa and Botswana. The online sports betting site PalaceBet is also included.

Emperors Palace is a leading casino resort in Gauteng, with 1,695 slot machines, 69 gaming tables and 757 rooms. In Sun International’s announcement, it pointed to the resort’s “unique proximity” to the OR Tambo International Airport as an opportunity to attract “high net-worth customers”.

The move was backed by the group’s investors, with 62.54% of shareholders providing written support for the purchase. Sun International believes the transaction will “enhance the qualit..

December 15, 2023

Spain gambling revenue jumps 23.6% to €304.2m in Q3

Gross gambling revenue (GGR) in Spain increased by 23.6% year-on-year to €304.3m (£261.2m/€332.3m) in Q3, although this was lower than the second quarter.

The figure was comfortably ahead of €240.8m in Q3 last year. However, the total fell 2.7% short of the €312.6m generated in revenue in Spain during Q2 of this year.

Breaking down the Q3 figures, casino was again the primary source of GGR in Spain. For Q3, casino revenue amounted to €160.3m, up 25.3% on last year representing 52.7% of the whole market.

The highest amount of growth came in the live roulette sector, with GGR up 27.8%. There was also significant growth in the slots segment, with GGR jumping 25.9%.

In terms of quarter-on-quarter performance, blackjack GGR jumped 11.5%, slots 8.1% and live roulette 5.4%. However, conventional roulette GGR fell 2.2% from Q2.

Q3 sports betting revenue exceeds €113.0m

Elsewhere, sports betting revenue increased 22.7% year-on-year to €113.5m, accounting for 37.3% of all GGR on Q3.

Pre-..

December 15, 2023

ACMA flags gambling giants for breaching in-play betting rules

The Australian Communications and Media Authority (ACMA) has revealed four leading online gambling brands have breached in-play betting rules in the country, with Ladbrokes and Bet365 among those flagged.

ACMA said the operators breached interactive gambling rules through the use of “Fast/Quick codes” to facilitate in-play betting on sports. Entain-owned Ladbrokes and Neds, as well as Hillside’s Bet365 and Sportsbet, were the four guilty parties named by ACMA.

Australia’s Interactive Gambling Act 2001 prohibits in-play betting on sports matches, with only limited exceptions. These include placing the bet over the phone, whereby the player must make an actual phone call to make the wager.

Players must first gain a Fast/Quick code from an operator’s website or app to build an in-play wager. This code embeds the event, bet selection and bet type of the in-play bet. The player then quotes this code when making the call to finalise the bet.

However, ACMA said this was not the case with..

December 15, 2023

Kansas smashes sports betting handle record in November

Kansas set a new sports betting handle record for the third consecutive month in November, with players wagering a total of $260.9m (£204.5m/€237.5m) across online and retail.

The November total surpassed the existing record of $249.7m in October by 4.5%. This was also 40.0% higher than the $186.4m wagered in Kansas in November last year.

Of this total, $251.7m was spent betting online, with the remaining $9.2m wagered at retail sportsbooks across Kansas.

However, record handle was not enough to also push revenue to a record high. In November, sports betting revenue in Kansas hit $8.9m. This was 38.2% behind October’s $14.4m record but 11.3% ahead of $8.0m in November 2022.

Online sports wagering accounted for $8.2m of total revenue in Kansas. A further $753,778 came from betting at retail sportsbooks.

Boot Hill and Kansas handle surpasses $100.0m

Breaking down the market, Boot Hill Casino and DraftKings remained the clear leaders in the online sector in Kansas. The partnership h..

December 14, 2023

Road to ICE 2024: A fascinating year for US sports betting

On the road to ICE, iGB will prep you for the biggest show of 2024 with this new series covering the latest developments since 2023's show.

The launch of ESPN Bet earlier this year has thrown the proverbial cat among the pigeons in the US sports betting world, setting us up for an intriguing 2024.

ESPN Bet, the newly branded online sportsbook operated by Penn Entertainment, went live across 17 US states in November.

Its app was downloaded over a million times within six days of its launch. This was also aided by the busy sports calendar of Thanksgiving week.

The combination of the largest sports media brand in the US and the expertise of Penn Entertainment could threaten to topple the giants of FanDuel and DraftKings.

DraftKings CEO Jason Robins says he is “keeping a close eye” on the ESPN Bet launch. As we also saw in a recent interview with iGB, Mike Morrison, vice-president of ESPN’s sports-betting arm, was delighted with the “really smooth” launch.

“We’re thrilled,” Morr..

December 14, 2023

Indiana sports betting handle hits record $513.7m in November

Players in Indiana spent $513.7m (£406.6m/€471.8m) betting on sports in November, a new monthly record for the Hoosier State.

The November total edged out the existing Indiana record of $500.1m set in January 2022 by 2.7%. This was also up 13.6% from $452.3m in November 2022 and 19.6% higher than $429.7m in October this year.

Basketball drew the most wagers at $145.7m, helped by the start of the new NBA season in late October.

American football bets hit $136.9m and baseball $1.1m. A further $169.8m was spent on parlay bets and $59.8m betting on other sports.

In terms of taxable adjusted gross revenue, this reached $30.7m in Indiana in November. This was 23.3% behind $40.0m in the same month last year and 32.1% behind October’s $45.2m haul.

Blue Chip Casino and FanDuel regain the lead in Indiana

Breaking down operator performance, Blue Chip Casino and FanDuel returned to the front of the pack. The partnerships heralded $12.4m in revenue from $176.3m in bets in November.

Amerista..