Casino & games – Page 2

August 19, 2024

New Jersey: Sports betting and igaming growth offset land-based decline in July

Year-on-year growth across sports wagering and igaming in New Jersey offset a 6.1% decline in revenue from the Garden State’s land-based market during July.
Total market revenue in July amounted to $547.8m (£423.4m/€496.7m) according to New Jersey Division of Gaming Enforcement figures. This is 8.2% more than $506.2m in New Jersey last year and also 11.6% more than June this year.

Despite the year-on-year decline, land-based gambling remains the main source of revenue. In July, land-based revenue topped $272.3m, down from $290.0m last year. Of this, $207.3m came from slots, a drop of 4.8%, while table games revenue also fell 10.0% to $65.0m.

How far is igaming from overtaking land-based in New Jersey?
The decline in land-based revenue begs the question: could it be surpassed by igaming? For July, igaming revenue hit $195.4m, a 25.9% increase from the same month last year.

Of all igaming revenue, $192.8m was attributed to slots and table games, an increase of 26.4%. The remaining $2…

August 19, 2024

Weekend Report: FBI takes action in DC and the “Drake Curse” strikes again

Welcome to the Weekend Report, where iGB covers the news that you may have missed over Friday, Saturday and Sunday. This week, we look at an FBI arrest in DC, as well as a California bill that would allow tribes to sue cardrooms.
FBI takes DC Councilman Trayon White into custody
DC Councilman Trayon White was arrested by the FBI on Sunday (18 August) afternoon, according to the City Paper. White will be charged on Monday (19 August), although what the charges are have not yet been disclosed.

In 2019, the DC Council approved legal sports betting and gave lottery operator Intralot the sole-source contract. White was absent on the day of the 2019 vote. He voted to approve the FY2025 budget that opened the market earlier this year.

Bill that would allow tribes to sue CA cardrooms moves
A bill that would allow California’s tribes to directly sue cardrooms moved forward late last week. The assembly’s appropriations committee voted, 14-0, to send the bill to the floor for a full vote. It’..

August 16, 2024

State of the Union: DraftKings’ missteps, Missouri ballot measure

Welcome to iGB's State of the Union, a look at the biggest North American sports betting stories we've covered over the week and briefs on others we found interesting.
DraftKings has “no excuse” to consider surcharge “cash grab”
Less than an hour after Flutter’s second-quarter earnings call ended on Tuesday, DraftKings announced that, after hearing customer feedback, it will back off plans to impose a winners’ surcharge. The company announced the idea in early August, only to get swift and negative feedback.

Wall Street reacted positively on Wednesday. DraftKings’ shares were up as high as $33.50 per share before they settled at $32.06, up nearly 2%. While Rush Street Interactive and Penn Entertainment previously said they would not follow DraftKings’ lead, the company was clearly waiting to see how FanDuel would react.

“We have no plans to introduce a surcharge to winners,” CEO Peter Jackson said during the Q&A portion of the call. He then declined to entertain the issue..

August 9, 2024

Online slots growth pushes Lithuania gambling revenue to €116m in H1

Gambling revenue in Lithuania increased 12.6% year-on-year to €116.0m (£99.3m/$126.7m) in H1 with a strong online performance mitigating a decline in land-based revenue.
Figures from the Lithuania Gaming Control Authority show H1 revenue was clear of the €108.5m reported in the same period last year.

Starting with the online market, revenue for the channel climbed 12.5% year-on-year to €72.2m. Player spending increased by 8.7% to €1.05bn, winning $973.1m in the process.

Slots reign supreme in Lithuania online gambling market
Category A online slots – games with unlimited winnings – were undoubtedly the star of the show in H1. These slots generated €53.5m in revenue, more than any other segment across both the online and land-based market in Lithuania. Player spending on these machines also hit a market-high of €627.7m, up 6.2%.

For Category B online slots, with maximum stakes of LTL1 (€0.3) and wins limited to 200 times customer bets, revenue was flat at €1.8m in H1. In addition, o..

August 7, 2024

New casino launches help Full House grow revenue in Q2 but costs hit bottom line

Net losses increased for Full House Resorts in Q2 due to costs associated with opening new casinos hit its bottom line.
Revenue for the three months to 30 June at Full House hit $73.5m (£57.8m/€67.3m). This is 23.7% more than Q2 last year at Full House, with casino driving the increase.

August 2, 2024

Waterhouse VC: The rise and rise of Bet365

How has Bet365 maintained a consistent top position in online gambling? Tom Waterhouse reviews its tactics for success.
Becoming the dominant force early in an industry can lead to significant competitive advantages, brand recognition, and customer loyalty. Amazon in ecommerce and Coca-Cola in soft drinks, are examples where early and effective market entry cemented dominant lasting positions. Dominance is maintained through established distribution, economies of scale and a sticky customer base.

In gambling, aside from countries where a pari-mutuel (tote) operator has a monopoly on betting, there is a variety of choice. For example, in Australia, there are around 100 wagering operators and in the UK there are 175 online operators. Before the internet, bookmakers would typically earn and retain market share through physical high street betting shops, which gave the industry a natural barrier to entry.

In the UK, Ladbrokes and William Hill emerged as the initial market leaders among a..

July 19, 2024

Pennsylvania gaming market shored up by record icasino performance in FY23-24

Pennsylvania reported year-on-year declines in slots, table games, sports betting, VGTs and fantasy sports in its fiscal year ended 30 June, yet a strong performance from online gaming was enough to push the state to record revenue and taxes.

Total gambling revenue for the 12 months to 30 June came to $5.89bn (£4.55bn/€5.41bn), 6.9% ahead of last year’s $5.51bn according to full-year figures from the Pennsylvania Gaming Control Board.

This generated $2.36bn in tax revenue for the Keystone state, a record breaking total. Of this total, $1.34bn came from casino slots and $157.6m table games. Sports betting generated $175.2m, video gaming terminals $21.4m and fantasy sports $2.9m.

However, it followed a year in which all verticals – bar one – declined year-over-year. The land-based casino market made the biggest contribution, with slots making up $2.44bn of FY23-24 revenue, down 0.6% from the prior year. A further $958m came from table games, with video gaming terminals (VGT) revenue ..

July 17, 2024

New Jersey: Sports betting decline fails to halt gambling revenue growth in June

A second consecutive month of year-on-year decline in sports betting revenue failed to halt overall growth in the New Jersey gambling market, with total revenue rising 7.4% in June.

Combined land-based casino, igaming and sports betting revenue in New Jersey hit $491.0m (£378.6m/€450.3m) for June. This is clear of $457.2m in the same month last year but 3.7% behind the $510.0m posted in May this year.

Land-based casino again generated the most gambling revenue for New Jersey during June. In total, revenue in this segment edged up by 1.0% to $244.1m. This includes $184.0m in slot machine revenue, a rise of 0.6%, and $60.1m table games, up 2.5%.

Igaming edges closer to New Jersey land-based casinos

By far the biggest area of growth in New Jersey in June was the igaming market. Here, total revenue was 25.2% higher year-on-year at $186.8m. This was $57.3m behind the long-established casino land-based sector.

‘Other authorised games’ drew $184.4m of all igaming revenue, up 25.6%. Howe..

July 16, 2024

Massachusetts reports sports betting growth despite retail loss in June

Massachusetts saw its sports betting handle and taxable gaming revenue both increase year-on-year in June despite reporting a loss within its retail market.

Total player spending on sports betting in Massachusetts during June amounted to $509.4m (£303.1m/€467.8m). This is 57.5% up from $323.5m last year but 13.3% behind $587.3m in May this year. It is also the lowest monthly total since $314.9m was bet in August 2023.

Online betting spending hit $500.7m in June, with retail drawing just $8.6m in comparison.

Revenue-wise, operators across online and retail reported $40.5m. This is up 25.8% from last year’s $32.2m haul but 29.0% short of $57.0m in May and the lowest monthly amount since $22.7m last August.

Online sports betting generated $41.0m in revenue during June. However, a $588,965 loss from the retail sector pushed the overall revenue total down for the month.

As for hold, across the Massachusetts market, this stood at 8.30% in June. Online hold hit 8.44% with retail at 0.01..

July 9, 2024

Survey reveals Betano as most recognisable brand in Brazil

Kaizen Gaming-owned Betano is the most recognisable and trusted betting brand in Brazil, a survey by Env Media has revealed.

Env Media centred its survey on the 20 most popular brands in Brazil, including the likes of Betano, Bet365 and Betfair. The study aimed to establish what operators held the greatest share of voice in Brazil by looking at their visibility and market shares.

This is ahead of the regulated market going live following the December approval of Bill 3,626/2023, legalising sports betting and igaming.

The survey asked 500 active adult bettors which operators they were both aware of and trusted. Betano led the way with 73.4% of respondents stating they recognised and trusted the operator. Bet365, meanwhile, was second, selected by 67.2% of those surveyed.

Brazilian operator Pixbet was third, recognised and trusted by 54.7% of respondents, while Sportingbet and Betnacional were selected by 42.6% and 41.6% respectively.

Betano also held the advantage in Env Media’s s..

July 1, 2024

Weekend Report: PH senator pushes POGO ban, FanDuel’s strong week in NY and more

Welcome to the Weekend Report, where iGB updates you with the stories you may have missed over the last few days. This week we cover POGOs in the Philippines, as well as stopping off in New York, New Hampshire, Thailand and Brazil.

Philippine senator renews call for online gambling ban

Philippines Senator Joel Villanueva is pushing for his 2022 legislation banning Philippine Offshore Gaming Operators (POGOs) and all forms of online gambling to progress through the country’s legislature.

First filed in September 2022, Villanueva’s Senate Bill 1281 aims to repeal all legislation granting the power to regulate online gambling and criminalise the vertical. Those found to have placed, received or otherwise unknowingly transmitted a bet or wager online would face either a prison sentence of up to six months or a fine of PHP500,000 (£6,736.74/€7,943.75/8,524.33).

Villanueva urges PAGCOR to intensify investigation on POGOs and other forms of online gamblinghttps://t.co/dDChQ5jZSZ
— DZRH..

June 28, 2024

US May round-up: Strong month for NV; CO handle up 16.2%; Icasino shines in CT

Analysing some of the latest US monthly state reports, iGB takes a closer look at how Nevada, Colorado, Connecticut and South Dakota performed during May.

Sports betting revenue for May in Nevada topped $36m, up 19.8% on last year. Online betting (up 23%) accounted for 63.4% of all sports wagering revenue. Overall handle dipped 2.3% on the previous year.

Of this, $17.2m in revenue came from basketball wagering with the NBA Conference semi-finals and finals playing out during the month. A further $11.2m in revenue came from baseball, as the MLB season takes place, and $3.4m from ice hockey. A further $7.8m was generated across other sports.

Nevada saw overall revenue climb 2.3% to $1.32bn (£1.04bn/€1.23bn).

Gaming revenue in Nevada edged ahead of $1.29bn last year, with May halting two consecutive months of year-on-year decline.

With regards to land-based gaming, slots drew the most revenue at $886.1m, up by 1.0% year-on-year. Multi-denomination slots accounted for $599.1m of rev..

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Tag: Casino & games