Gaming – Page 3 – Bookielink

August 1, 2024

UKGC data: Record quarter for online gambling activity in Britain

Great Britain’s online gross gambling yield (GGY) increased by 12% year-on-year to £1.46bn (€1.73bn/$1.87bn) in Q2, with the total number of bets and spins reaching a record high for the second consecutive quarter.
Players in Britain placed 24.5 billion bets and spins in Q2 (April to June), representing an increase of 11% on last year and a new quarterly record since the UKGC began publishing player data in 2019.

Breaking down the UKGC data, online slots were the primary source of GGY at £642m, noting a rise of 10% from last year. May proved the busiest month for online slots gaming with GGY hitting £217.9m.

Consumers placed a total of 22.4 billion spins during the quarter, which is up 12% on last year. However, slot session length was marginally shorter at 17 minutes, compared to just under 18 minutes in the previous year.

As for how many people were playing online slots, total active players in this segment hit 13.3 million for the period. This represents a year-on-year increase..

July 30, 2024

Caesars’ Big Brazil and Sportingbet apply for Brazil licences

Sportingbet and Caesars Sportsbook’s Big Brazil have submitted their licence applications in Brazil, becoming the fourth and fifth operators to do so.
Sportingbet applied for a Brazil sports betting and igaming licence on Thursday (25 July). The following day, Caesars Sportsbook’s licensee Big Brazil joined Sportingbet, Betano, Superbet and Rei do Pitaco in submitting its application.

In applying during the initial 90-day window of preference, Sportingbet and Big Brazil have ensured their applications will be prioritised by the ministry of finance’s Secretariat of Prizes and Bets (SPA).

The SPA guarantees that operators who submit their applications by the 20 August deadline will have their applications processed by 1 January 2025, the anticipated launch date of the legal market.

Licences will last for five years and will cost BRL30m (£4.6m/€5.4m/$5.9m) in fees. Those who receive a licence will be able to offer gambling via three skins. Meanwhile, operators who fail to secure a lice..

July 29, 2024

Investment year paying off for BetMGM as H1 NGR hits $1bn

With revenue reaching $1bn in the first half of 2024, BetMGM expects growth to accelerate in H2, underpinned by Angstrom’s product capabilities and leveraging its omnichannel opportunities through MGM Resorts.
In a trading update published today (29 July), BetMGM chief executive Adam Greenblatt described 2024 as an investment year, focused on improving customer acquisition and enhancing player experiences.

Hockey legend Wayne Gretzky, iconic quarterback Tom Brady and Hollywood star Vince Vaughn starred in BetMGM’s Super Bowl commercial
Net gaming revenue (NGR) for the six months to 30 June grew 6% year-on-year. Despite no new state launches revenue grew 9% year-on-year in Q2, following a slower first quarter.

This showed the strategy of investing in players gain momentum, Greenblatt said, with BetMGM exceeding its acquisition and retention targets for the six-month period. This was helped by a successful Super Bowl campaign featuring Tom Brady, Wayne Gretzky and Vince Vaughn and a ..

July 29, 2024

Pagcor dismisses fake memo ordering imminent POGO closures

The Philippine Amusement and Gaming Corporation (Pagcor) has dimissed a fake memo for local government units to immediately terminate the operations of Philippine Offshore Gaming Operators (POGOs).
Picked up by Pagcor, the fake memo states all POGOs must be shut down by the first week of August. The memo features Pagcor logos and was fraudulently signed by Jessa Mariz Fernandez, head of the regulator’s offshore gaming licensing department.

The memo refers to Philippines president Ferdinand Marcos Jr announcing the decision to ban all POGOs during his State of the Nation address on 22 July. During the address, he said all POGOs should close by the end of the year.

On Saturday (27 July) Pagcor dismissed the memo in a statement that said it was a forged version of an earlier memorandum issued by Pagcor on 23 July.

The genuine memo did not give a definitive date for POGO closures. It instead said closures were “pending finalisation of the details and process of winding down”, adding tha..

July 26, 2024

Active players double as Ontario online gambling revenue grows by a third in Q1

The number of active player accounts in Ontario doubled in the first quarter of the province’s 2024-25 fiscal year, as revenue from sports betting and online casino grew 34.4% year-over-year.
iGaming Ontario’s Q1 report shows a 31.4% in amounts wagered across all verticals to CA$18.4bn (£10.4bn/€12.3bn/US$13.3bn) in the three months ended 30 June. This also represents a 3.4% improvement on Q4.

This was underpinned by more players coming into the market. Active player accounts more than doubled to 1.9 million in the quarter, with 50 operators running 80 sites. This beats Q1 2023-24 by 106.5% and represents a 46.2% on the preceding quarter. Ontario’s average monthly spend per active player account also increased markedly by 44.2% year-on-year to $284.

After winnings and adjustments from promotional spend by licensees, revenue for the quarter increased 34.4% year-on-year to $726m.

To iGaming Ontario executive director Martha Otton, this shows the success of the province’s regulated on..

July 24, 2024

Igaming dashboard powered by H2

iGB’s principal data partner H2 Gambling Capital provides headline metrics on the global igaming market, with forecasts now extended to 2029.

July 23, 2024

EveryMatrix enjoys “best ever period of sustained growth” as Q2 hits new heights

EveryMatrix reported record quarterly revenue of €42.4m (£35.7m/$46.1m) in Q2 following year-on-year growth across all products, while the supplier also saw EBITDA reach an all-time high.
Net revenue was 56.5% higher than the €27.1m posted by EveryMatrix in Q2 last year. It is also ahead of the previous quarterly record – €39m for Q1 this year – by 14.3%.

This figure does not include the impact of recent M&A activity. When the revenue total is adjusted to account for acquisitions, it reaches €82m, some 45% higher year-on-year compared to 56.5% net revenue growth, showing strong growth in the underlying business.

Group EBITDA for Q2 hit €25.1m, up 67.3% from last year and 12.6% higher than Q1’s existing record. As was also the case with revenue, it was the third consecutive quarter of a new high for EveryMatrix, while EBITDA margin also reached 59%.

“It’s difficult to know what to say when our results just keep getting better and better,” CEO Ebbe Groes (pictured above) said. “What..

July 22, 2024

Michigan sports betting figures skewed by BetMGM deductions in June

While Michigan posted strong year-on-year growth in online gross gaming revenue (GGR) in June, hefty promotional deductions attributed to BetMGM meant adjusted sports betting revenue swung to a loss for the month.
Total online gambling gross receipts, across the state’s tribal and commercial licensees, hit $214.1m in June, figures from the Michigan Gaming Control Board (MGCB) show. This was generated almost entirely from online casino, which accounted for $183.2m of the total. A further $30.9m of revenue came from sports betting, from $276.8m in stakes, an 11.2% hold.

June, with only Major League Baseball (MLB) in action, is traditionally a quieter month for US sports betting. However, Michigan sports betting operators, as in many other states, reported strong year-on-year growth in player wagers. Handle was up 21.4% from June 2023 to $276.8m.

BetMGM deductions hit Michigan sport betting performance
A hefty promotional deduction for BetMGM meant adjusted revenue for sports betting..

July 22, 2024

Student athletes face new wave of harassment – how is the NCAA and the betting industry addressing the issue?

The National Collegiate Athletic Association (NCAA) and the National Council of Legislators from Gaming States (NCLGS) are working together to afford collegiate athletes safety in the new world of sports betting.
Dangers for student athletes range from integrity to the illegal betting market, to physical danger to athletes from bettors who lose individual player prop bets said panelists on Friday (19 July) at the NCLGS summer meeting in Pittsburgh.

The NCAA and NCLGS are banding together for a solution, said Clint Hangebrauck, the NCAA’s managing director of enterprise risk management. The two entities have formed a special committee on education to create draft legislation that can address protecting student athletes.

“We have drafted a model legislative framework that starts with really enforcing the unregulated market,” Hangebrauck said. He went on to say that the current situation presents a “clear and present danger to the safety and well-being of our student athletes”.

Wayne ..

July 19, 2024

Bettor perspective? Walters, “Spanky” say US sportsbooks have much to learn

As legal sports betting in the US proceeds in its seventh year, many have expressed concerns about whether the current wagering model is sustainable for the long term.

A panel discussion on Friday (19 July) at the summer meeting of the National Council of Legislators from Gaming States (NCLGS) in Pittsburgh featured views on the subject from legendary sports bettors Billy Walters and Gadoon “Spanky” Kyrollos. Both the legendary Walters, 78, and Kyrollos said sustainability depends on treating sports bettors fairly.

That, they said, means an equal playing field for all customers.

Richard Schuetz, a veteran casino executive, regulator and onetime Las Vegas sportsbook operator, moderated the panel. Schuetz hosted Walters when Schuetz ran the sportsbook at the Stardust.

Transparency, betting limits are concerns

One problem threatening the long-term sustainability of legal sports betting, panelists said, is a lack of knowledgeable operators. “The (legal) industry is new in this country..

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 18, 2024

Evoke misses H1 EBITDA target, cites leadership change as H2 growth driver

Evoke Plc missed its H1 2024 adjusted EBITDA target by £35m to £40m due to high marketing costs and lower than expected revenue, it said in a trading update today.

The 888, William Hill and Mr Green parent company expects to mitigate its losses in H2 by employing up to £30m in cost savings and meeting its full-year earnings expectation.

A change in leadership and operational overhaul were cited as key drivers for cost efficiencies in the second half of the year. This includes 888’s new strategy and value creation plan, set out in March.

As a result, the firm expects H2 2024 revenue growth to be in line with its medium-term guidance of 5%-9%. It also hopes to deliver a 20% EBITDA margin in 2025. Marketing costs will be between £35m and £40m lower in H2 than in H1.

In an analyst note, Regulus Partners said the profit warning was “neither small nor unlucky”.

On the impact from marketing spend, Regulus said: “What is slightly alarming is that such poor tactics were allowed to unfol..

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Tag: Gaming