Gaming – Page 4 – Bookielink

September 19, 2024

Pennsylvania igaming revenue falls just short of monthly record in August

Pennsylvania reported a year-on-year and month-on-month increase in gambling revenue in August, driven by a near-record performance from the state’s igaming market.
Total gambling revenue in Pennsylvania in August hit $525.5m (£397.1m/€472.1m). This is 14.9% ahead of last year and 4.9% more than July’s total for this year.

Ongoing igaming growth in Pennsylvania

The stand-out figure in August was igaming revenue, which amounted to $183.7m. Not only is this 29% more than last year but also the second-highest monthly total on record, just short of March 2024’s $191.1m haul.

Breaking this down, online slots generated $138.3m of all igaming revenue in August. Table games drew $43.2m, with poker revenue topping $2.2m for the month.

As has been the case for some time, Hollywood Casino at Penn National Race Course is still the market leader here. For August, it posted $72.1m in online casino revenue. Valley Forge Casino Resort remains second with $46.0m, then Rivers Casino Philadelphia on..

September 18, 2024

Michigan: Igaming growth drives online gambling revenue increase in August

The Michigan Gaming Control Board (MGCB) reported a year-on-year and month-on-month increase in online gambling revenue in August, driven by growth within the igaming sector.
Igaming gross receipts and gross online sports betting receipts from commercial and tribal operators in August amounted to $224.0m (£170.2m/€201.5m). This is 27.7% more than last year in Michigan and 1.4% higher than in July this year.

Data, published by the MGCB on Tuesday (17 September) shows igaming accounted for $196.7m of all revenue during August, up 29.2% year-on-year. Gross sports betting receipts were also 18.1% higher for the month at $27.4m.

The MGCB also sets out adjusted gross receipts (AGR), which account for promotional spending in Michigan. For August, the total for the state’s online gambling market was $193.2m, a rise of 26.2% on last year’s total.

Of this, $176.9m came from igaming, a year-on-year rise of 30.9%. In terms of sports betting, AGR reached $16.3m, up 2.5% from the previous year.

September 17, 2024

New Jersey: Record igaming revenue drives growth in August

Gambling revenue in New Jersey increased 4.4% year-on-year in August, helped by a record performance by the Garden State’s igaming market.
Total revenue for August reached $555.1m (£420.0m/€498.7m). This is ahead of $531.6m in New Jersey last August and also 1.3% more than $547.8m in July this year.

Without doubt, the stand-out figure for New Jersey in August was igaming revenue. Here, revenue jumped 27.8% year-on-year to $198.4m – a new monthly record for the state.

This includes $196.0m in internet slots revenue, an increase of 28.2%. On the other hand, online peer-to-peer remained level at $2.4m for the month.

Golden Nugget was again the leading master licensee in the igaming market. Skins operating via its licence, which in addition to Golden Nugget are FanDuel, Betway and BetRivers, generated $55.0m in revenue.

However, as was the case in July, DraftKings was the leading igaming operator. It posted $43.2m in online casino revenue, ahead of FanDuel on $41.3m. Another brand of n..

September 16, 2024

Weekend Report: Caesars launches retail betting in Maine; talk of Newfoundland casino

Welcome to the Weekend Report, where iGB looks at the news that you may have missed over Friday, Saturday and Sunday. This week, we cover Caesars launching in-person betting in Maine, reports of a new casino in Newfoundland and the start of SkyCity’s temporary closure in Auckland.
Caesars first to launch retail sports betting in Maine
First off, Caesars has become the first to operator to roll out retail sports betting in the state of Maine. The Portland-based Oddfellahs sportsbook officially opened on 13 September and is operating in partnership with First Tracks Investments.

Portland mayor Mark Dion placed the first ceremonial first bet at the site, which features self-service betting kiosks and a ticket window on-site. Cash deposits and withdrawals for Caesars Sportsbook mobile accounts is also available.

Online sports wagering with Caesars has been available in Maine since November of 2023.

Local mayor proposes new casino in Newfoundland
North of the border, reports of a poten..

September 12, 2024

Apuesta Total CEO warns against reintroduction of consumption tax on Peru gambling

Apuesta Total CEO Gonzalo Perez has warned the Peru government against the introduction of a consumption tax on gambling operators.
Law no 31557, which looked to regulate online gaming and sports betting in Peru, came into effect on 9 February. This sets out a tax of 12% on gross gaming revenue (GGR), although legislation originally included a 1% tax on the value of every bet, or consumption tax.

That 1% consumption tax was removed from legislation in July 2021. However the Peru congress is now discussing its reintroduction, with the potential rate not yet confirmed.

Perez fears this could be hugely detrimental to the licensed gambling industry and is urging the government to reconsider. “The consumption tax is, depending of course on the percentage they will apply and depending on the base fee, very harmful for us,” Perez tells iGB. “We are trying to reach the government to talk, to explain the possible impact.

“The proposed 1% consumption tax discussed in congress was crazy beca..

September 11, 2024

Apuesta Total CEO: There isn’t room for everyone in Peru’s regulated market

Apuesta Total CEO Gonzalo Perez expects three or four operators will dominate the newly-regulated online market in Peru, while the remaining brands will fight for single-digit market share.
Law no 31557 came into effect in Peru on 9 February of this year as the government sought to regulate online gaming and sports betting in the country.

Operators active in Peru before the announcement had until 10 March to submit a licence application. Gambling regulator Mincetur warned those who did not comply could face a fine of up to Sol990,000 (€245,394/£212,401/$257,838) or criminal prosecution.

According to the law, Mincetur will process licence applications within 30 business days of submission. Perez said operators have a 15 November deadline to submit final certifications for their platform and content. Failing to meet that deadline could result in authorisation being revoked.

During that initial window in March, 145 licence requests were submitted. Meanwhile new entrants to Peru were g..

September 10, 2024

Betano leading in Brazil with 23% of grey betting market share ahead of Bet365

Betano is currently leading the way in Brazil with a 23% share of the grey wagering market, a new white paper from OpenBet has indicated using research from global industry data consultancy H2 Gambling Capital.
Offering exclusive data analytics and projections from H2GC, the OpenBet report revealed Betano 23%of the Brazil betting market, with Bet365 following closely behind with a 20% share.

However, the report also outlined that with the legal market set to launch on 1 January 2025, the Brazilian industry will be increasingly competitive as local brands as well as a raft of international brands seek to get their share of an onshore market that H2GC predicts could reach $10.1bn (£7.7bn/€9.2bn) in gross gaming revenue (GGR) by 2029.

That would represent growth of nearly double, with H2GC estimating Brazil’s legalonline sports betting and igaming market will be worth around $5.6bn in 2025 GGR.Around $3bn of that will come from online sports betting, with igaming responsible for $2.6bn…

September 9, 2024

Brazil government preparing heavy crackdown on illegal betting payments

Pay4Fun director Ari Celia tells iGB Brazil's ministry of finance has established a new department to target black market operators. He expects Pix blocking efforts to be successful.
Brazil’s government is implementing hefty measures to prevent illegal operators from processing payments ahead of the legal betting market’s launch on 1 January 2025.

The government’s ministry of finance is setting up a team of eight civil servants who will specifically work on preventing illegal sites from taking and receiving payments, according to Celia.

The team will process complaints from the sector and seek to punish unlicensed payment providers and illegal sites.

Blocking Pix payments will be successful
One measure the government has publicly announced is blocking payments involving illegal operators made via Pix, an instant payment service controlled by the Central Bank of Brazil which the majority of the betting market uses.

Regulators in other markets like Germany and across Europe..

August 27, 2024

Yield Sec report: Illegal US gross gaming revenue continues to significantly outpace legal GGR

A new Yield Sec report shared exclusively with iGB shows that the US gambling market reached $39.9bn (£30bn/€35.7bn) in gross gaming revenue (GGR) in the first half of 2024. The company said $29.1bn of that GGR came from illegal platforms between January and June 2024.
Yield Sec uses predictive analytics in its report. The report is for sports betting and online gambling only and reveals $10.8bn in GGR on legal platforms. According to the report, there were 892 illegal operators working in the US in the first half of 2024. In addition, 651 affiliates were promoting illegal platforms.

In 2023, Yield Sec predicted that the US market was $40.9bn in GGR for the year. It appears the 2024 numbers will easily eclipse that. Two new US states entered the live US market in 2024 – North Carolina and Vermont. No US jurisdictions legalised wagering in 2024. North Carolina is the ninth-biggest US state by population and the sixth-biggest legal betting state by population.

Through its first five ..

August 27, 2024

Survey estimates 10% of Brazil population has suffered gambling-related financial issues

A survey by market research specialist Hibou has revealed 10% of the population in Brazil has endured financial problems from gambling ahead of regulation coming into force.
The survey, which included 2,839 respondents in Brazil from all social classes, studied the prevalence of gambling in the population.

The study found 68% of Brazilians gamble, with around 16% of respondents stating they had suffered from financial issues due to their gambling.

Is pre-regulation gambling causing social issues?
That equates to around 10% of the Brazilian population. While this may cause concern it is important to note it covers a period before the legal online market launches. The first legal bets will be placed on 1 January 2025, with 113 operators applying for a licence during the initial 90-day window of preference.

Of those who had endured financial problems from gambling, 32% stated they had sold assets to make up for their losses. Additionally, 29% borrowed from friends or family, while 25% ..

August 21, 2024

Priority window closes for Brazil licence applications as 113 apply in total

The window for prioritised licence applications in Brazil has now shut with 113 operators submitting requests ahead of the deadline and excitement is building ahead of the market going live.
By applying before the 20 August deadline passed, the 113 operators have ensured their licence applications will be processed by 1 January 2025, the forecast launch date of the legal market in Brazil.

The 90-day initial window of preference opened in May. For a while, it appeared the number of applications would fall well short of industry expectations with just Kaizen Gaming-owned Betano applying by the end of June.

However, the publication of the remaining ordinances sparked an acceleration of requests, with 108 of the 113 applications coming after the final ordinance on sanctions was announced on 31 July. Notably, the much-awaited Normative Ordinance No 1,207 on online games clarifying which games would be allowed was one of the last to be published.

The total number of applications fell shor..

August 21, 2024

Sports betting and igaming continue to offset Pennsylvania retail decline in July

Pennsylvania posted further year-on-year declines in land-based gambling revenue in July, although the state saw total market revenue increase on the back of ongoing growth across igaming and sports betting.
Revenue from gambling in Pennsylvania in July hit $500.8m (£384.2m/€450.2m), according to the state’s Gaming Control Board. This is 7.2% higher than last year and also 6.1% more than $472.0m in June this year.

Despite revenue from retail slots declining 4.8% year-on-year to $204.3m, this remains the biggest source of gambling revenue in Pennsylvania. Land-based table revenue also fell 4.8% to $79.4m but still ranked third in terms of total revenue generated.

Igaming revenue tops $174.3m in July
Turning to online gambling, there is seemingly no stopping growth within the igaming sector in Pennsylvania. For July, total revenue from igaming was $174.3m, a rise of 31.2% from last year.

Of this total, $125.4m came from online slots, up 32.2%. Internet table games revenue was also up ..

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Tag: Gaming