Casino – Page 8 – Bookielink

May 17, 2024

Pennsylvania gaming again breaks $500m milestone

The Pennsylvania gaming industry generated revenue of more than $500m in April but fell just short of the previous month’s record.

Some $504.6m (€464.8m/£398.1m) of revenue was recorded for the month, according to figures published by the Pennsylvania Gaming Control Board (PGCB). That was up 5.9% compared to April 2023.

The figure was down on the record $554.6m registered in March 2024. However, the figures were close on a day-by-day basis considering the extra day in March.

Pennsylvania gaming’s biggest segment stalls

Retail slots remains the biggest generator of gaming revenue, although the $205.4m was down 3.5% compared to April 2023. The number of slot machines in operation in April 2024 was 24,890 compared to 25,555 at the casinos in April 2023. Parx Casino, the state’s most popular venue, saw a 4.9% decrease to $31.6m.

Igaming slot revenue was the second biggest segment within Pennsylvania gaming at $126.0m, which was up 31.8%.

Sports betting back to growth

Igaming tables ..

May 17, 2024

New Jersey gambling revenue up in April despite land-based decline

Gambling revenue in New Jersey hiked 10.4% year-on-year to $510.9m (£403.7m/€470.6m) in April with increases across the igaming and sports betting segments more than offsetting a decline in the land-based market.

Total revenue was comfortably higher than $462.7m in April last year. However, the figure fell 3.0% short of the $526.6m reported in New Jersey in March this year.

Beginning with land-based casino, this remains the primary source of gambling revenue in the Garden State. However, the $216.8m generated in April is 6.3% behind $231.5m last year.

Physical slot machine revenue declined by 6.4% to $158.8m while land-based table games revenue also fell 6.1% to $58.1m.

Further igaming success for New Jersey

Turning to the igaming sector, the situation is very different. Revenue from all igaming in April hit $187.9m, up 18.2% year-on-year. This means igaming was only $28.9m behind the long-established land-based segment in April.

Some $185.6m of all igaming revenue was attributed..

May 16, 2024

Massachusetts sports betting revenue down 16.6% in April

Sports wagering revenue in Massachusetts amounted to $49.1m (£38.7m/€45.1m) in April, down 16.6% year-on-year despite an increase in player spending.

Revenue was $9.8m lower than the $58.9m posted in the same month last year. Incidentally, April 2023 was the first full month of legal online sports betting in Massachusetts.

However, the April revenue total is 6.3% higher than $46.2m in March of this year.

As to where revenue came from, online betting generated $49.4m during April. Retail betting resulted in a $256,593 loss, pushing the overall revenue total down.

In terms of spending, players in Massachusetts wagered a total of $603.3m on sports. This is 4.1% higher than last year but 6.1% behind $642.3m in March.

Of this total, some $591.5m was spent wagering online, while the remaining $11.7m was bet at retail sportsbooks.

DraftKings’ handle tops $304.1m in April

Looking at individual operators, DraftKings continues to lead the way in Massachusetts by some distance. During Apr..

May 15, 2024

Detroit casino revenue dips to $109.4m in April

Commercial casinos in Detroit reported a year-on-year decline in revenue during April, while the three venues in the Michigan city also posted a month-on-month drop.

Total Detroit casino revenue for April amounted to $109.4m (£86.8m/€101.0m). This is only marginally lower than $109.7m in April 2023 but 11.7% less than $123.9m in March this year.

Of this total, $107.9m came from table games and slots, down 1.6% year-on-year. This was also 11.8% behind March’s total.

The other $1.6m of revenue was generated in qualified adjusted gross receipts (QAGR) from sports betting. This is in contrast to a $14,489 loss in April 2023 and in line with the $1.6m posted in March.

MGM retains the lead in Detroit

Looking at each commercial casino in Detroit, MGM remains some way out in front in terms of total revenue. During April, MGM held a market share of 46.0%, compared to MotorCity on 30.0% and Hollywood Casino at Greektown with 24.0%.

MGM reported $49.9m in table games and slots revenue in A..

May 14, 2024

Loterj approves operator licence for Rio Jogo

Casa de Aposta Rio Jogo (Lema) has become the fifth operator to be licensed to offer sports betting and igaming by the Rio de Janeiro State Lottery (Loterj).

Ahead of the launch of the regulated sports betting and igaming market in Brazil, operators are making steps to secure licences, with Rio Jogo now doing so thanks to an approval in the Loterj accreditation notice.

Rio Jogo becomes the fifth operator approved by Loterj, joining the likes of PixBet and BestBet. Meanwhile, seven operators are currently in the process of gaining accreditation, including Caesars Sportsbook and PNR Tecnologia.

Rio Jogo chief executive João Victor de Araújo Souza thanked Loterj for its work on implementing wagering accreditation in Brazil.

“We believe in a regulated gaming market and its legality,” the CEO said. “We are aware of the responsibilities and duties assigned to us in the contract and we affirm that we are fully prepared for the success of the project.”

Loterj grants Rio Jogo licence in th..

May 9, 2024

Ex-MGM exec Sibella gets probation, $9,500 fine in money laundering case

Wearing a navy blazer and a sombre expression, Scott Sibella said he was sorry. Minutes later, US District Court Judge Dolly M Gee sentenced Sibella to 12 months probation, a $9,500 fine and a $100 special assessment. And so ended the legal portion of Sibella's part in the Wayne Nix illegal gambling ring.

Sibella was sentenced late Wednesday afternoon in the US District Court for the Central District of California.

The lightly attended event was speedy and without drama. Sibella was found guilty of one count of failing to file a suspicious activity report while employed by MGM Grand. He gave Nix, a known illegal bookmaker, $120,000 in exchange for a casino marker.

Sibella, the first to be sentenced in a wide-reaching federal investigation around Nix, stood, head slightly bowed during the 18-minute sentencing.

When he was allowed to speak, he said this: “I want to apologise to the court, my family, my friends, the casino industry. Committing this crime has turned my life ups..

May 8, 2024

Super Group hits record revenue, deal to acquire platform revealed

Betway operator Super Group has reported Q1 revenues of €379.3m (£326.7m/$407.6m), its highest ever in a first quarter as it announced an agreement to fully acquire its sportsbook technology platform.

Super Group’s revenue total for Q1 is 5.4% up on the €359.9m generated in the final quarter of 2024. It was also a 12.1% hike on the first quarter of 2023.

Super Group attributed the rise in revenue to growth in Africa and North America. Super Group’s Africa and Middle East revenue was 58.9% up year-on-year, while North America’s figure was an 8.2% rise. Africa now accounts for 38% of Super Group’s revenue from 27% in Q1 2023. However, Super Group did note decreases in its Middle East and Asia-Pacific markets.

Super Group announced a profit of €41m for Q1. However, that included a pre-tax gain of €40.1m from the sale of the B2B division of Digital Gaming Corporation (DGC) to Games Global, as well as a non-cash charge of €13.1m for change in fair value of option liability.

Adjusted EBI..

May 7, 2024

Ohio regulator considers extending licence runway; Arkansas casino application opens

Tuesday (7 May) marks the final day for comments on a rule change that would extend the deadline for Ohio licensees to launch. But the Ohio Casino Control Commission is considering extending the runway.

Currently, licensees have one year to go live from when a licence was issued. For local or retail entities, it’s not always easy to go from concept to launch in 12 months. According to the Business Journal, Phantom Fireworks is among those pressing against the deadline set by the Ohio regulator. Licensed as a Type B operator, which is brick-and-mortar only, the company does not yet have a definitive location for its sportsbook.

The proposed rule change would allow the OCCC executive director the latitude to extend the deadline on a case-by-case basis. Should the executive director determine that the licensee is making progress toward launch, he would have the option to give it more time.

HOF, Muirfield haven’t launched

The Ohio regulator launched legal sports betting on 1 Januar..

May 3, 2024

State of the Union: A look at the week that was in North America

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.

Now Donald Trump Jr is getting in on the action

Donald Trump Jr is the latest to weigh in on the Alabama legislature’s legal lottery conundrum. The Alabama house passed a stripped down gambling expansion bill on Tuesday (30 April), but the senate did not after the bill’s sponsor and conference committee member, Greg Albritton, voted against the final version.

I’m excited to be in Alabama next week for a fundraiser for my dad, but whenever I ask anyone from there what's going on in the state this is all they talk about. Why's their senate refusing to let the people vote on a clean bill to legalize the lottery & fund education when 45… https://t.co/g6rWOvAWJC
— Donald Trump Jr. (@DonaldJTrumpJr) May 2, 2024

The Poarch Band of Creek Indians, who are in Albritton’s district, would be giving up some so..

May 2, 2024

Ohio betting revenue drops 3.8% in first month since college prop bet ban

Ohio reported total sports betting revenue of $63.8m (£51.0m/€59.6m) in March, down 3.8% on February’s total of $66.3m.

The sports betting revenue total of $63.8m in March also fell 33.1% short of the same month last year, when Ohio reported revenues of $95.3m. March 2023 was the third month after Ohio launched its sports betting market.

Ohio’s revenue drop was in spite of handle reaching $808.2m in March, significantly up from the $671.1m in bets taken in February. The NCAA Division 1 basketball tournaments are big drivers of handle in the US during the month.

The state’s March handle was also a 9.6% increase on the $737.2m in bets taken in the same month last year.

Taxable revenue stood at $64m, after $738.8m was paid out in winnings and $22.5m was written off in promotions.

Of the $808.2m in handle, online accounted for $784.8m, or 97.1% of the total. Online sports betting revenue was $62.1m, compared to $1.7m in retail.

FanDuel retains lead over DraftKings in Ohio

In terms ..

April 30, 2024

Missouri lawmaker trying again to marry VLTs and wagering gets plenty of pushback

A Missouri hearing with no vote on Tuesday (30 April) again revealed opposition to marrying legal video lottery terminals with sports betting. This time around, it wasn't Senator Denny Hoskins carrying the bill, but House Minority Leader Crystal Quade.

HB 2835 likely won’t get far. Assigned last week to the special committee on innovation and technology, the bill got its first hearing with opposition from casinos, a convenience store association and the home docks, or locations where gambling boats sit .

There were also references that the senate has plans to adjourn early. One lawmaker suggested it may adjourn on Tuesday. If that happens, current bills would stall and lawmakers would have to wait to see if there will be a special session. The senate has not yet approved a budget.

Quade’s bill would allow for statewide mobile wagering and renames and defines video lottery terminals as “mechanical amusement machines”. The machines currently operate in a grey market. They are ..

April 26, 2024

State of the Union: A look at the week that was in North America

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.

Illinois regulator grants DraftKings full mobile licence

On Thursday (25 April), the Illinois Gaming Board unanimously awarded DraftKings a four-year mobile and retail licence. The company has been offering statewide mobile sports betting since 2019. It also opened its sportsbook at historic Wrigley Field last month. DraftKings first entered the Illinois mobile market through a partnership with the Casino Queen in East St Louis in 2019.

The Wrigley Field sportsbook is the second brick-and-mortar book at a professional sports venue in Chicago. FanDuel opened its location at United Center in 2022. Illinois was among the first US jurisdictions to allow sports betting operators to partner with professional sports teams. This also enabled customers to place bets sportsbooks at pro venues. Caesars Sportsbook – th..

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Tag: Casino