Gaming – Page 5 – Bookielink

June 4, 2024

Spain online gambling revenue rises to €350.7m in Q1

Gross online gambling revenue in Spain amounted to €350.7m (£298.6m/$381.6m) during Q1, a 15.1% increase from the opening quarter of last year and 11.2% ahead of Q4.

The Q1 total was comfortably ahead of €313.3m in the same period last year. It is also more than the €315.3m generated in Spain in the final quarter of 2023.

Casino remains the primary source of revenue, generating €167.8m in Q1, or 47.8% of all market revenue. The quarterly total was 17.0% higher than last year but 2.1% behind Q4.

Year-on-year casino growth was helped by a 15.0% rise in slots revenue and 22.2% rise in roulette revenue. Growth was also reported across blackjack and roulette.

Elsewhere, sports betting revenue amounted to €150.3m, representing 42.9% of overall revenue for the quarter. This is 15.4% higher than Q1 last year and also 31.0% ahead of Q4.

Within this market, pre-match betting activity rocketed by 588.8% year-on-year but in-play bets were down 31.7%. Other bet types edged up 1.6% while horse ..

May 30, 2024

Nevada gambling revenue declines again in April

Total gambling revenue in Nevada amounted to $1.24bn (£977.0m/€1.15bn) during April, an increase on last year but the second consecutive month of decline in the Silver State.

The monthly total was 6.9% ahead of $1.16bn in April last year but 3.9% less than $1.29bn in Nevada in March this year. March was also lower than February’s total, with February having been boosted by Nevada’s hosting of the NFL’s Super Bowl.

Once again, slots proved to be the primary source of revenue for operators, generating a total of $886.8m. This is 5.9% higher than in April last year. Multi-denomination slots drew the most revenue at $586.8m during the month, a rise of 26.4%.

High-stakes slots also saw more revenue, with increases across both $25 (up 137.6%) and $100 machines (up 14.5%). In contrast, revenue from all lower-stakes machines was down year-on-year.

Blackjack and baccarat drive growth

Looking elsewhere in Nevada, revenue from table, counter and card games – including sports betting – climb..

May 24, 2024

Delaware sports betting growth continues as expansion bill progresses

Delaware reported further year-on-year growth across sports betting handle and revenue in April, while a bill proposing plans to expand the state’s online market beyond its current monopoly has moved forward.

Introduced in April, House Bill 365 is seeking to open up the Delaware online market to more operators. This comes just months after the Delaware Lottery launched its first online sportsbook with Rush Street Interactive and BetRivers.

The Lottery’s sportsbook went live in January and has already had a marked improvement on the Delaware sports betting market. Monthly handle and revenue totals are higher, with this trend continuing into April.

Against this background of early success, lawmakers are already looking at ways to grow the market further.

At the centre of this is HB 365, which this week was assigned to the house appropriations committee. The bill had been assigned to the house administration committee upon its introduction in mid-April, but no further action was take..

May 23, 2024

ACMA orders blocking of more illegal gambling websites

The Australian Communications and Media Authority (ACMA) has requested the blocking of a further eight websites it deems to be offering gambling in the country illegally.

ACMA said each of the sites is operating in breach of the Interactive Gambling Act 2001. As such, it is requesting internet service providers (ISPs) to block access to the illegal sites.

Domains flagged include Jogi Casino, Dundee Slots, Lucky Hunter, Lucky Wins, Lukki Casino, Spin Fever, Clubhouse Casino and Winport Casino.

Since the ACMA made its first blocking request in November 2019, some 975 gambling and affiliate websites have been blocked. In addition, over 220 illegal services have pulled out of Australia since the ACMA started enforcing illegal offshore gambling rules.

ACMA committed to protecting players

Website blocking is one several enforcement options to protect consumers against illegal gambling services.

ACMA says it can take such action if a site offers games not covered by Australian law such..

May 21, 2024

Michigan online gaming revenue drops 8.7% to $234.8m in April

Michigan sports betting and igaming operators reported $234.8m (£184.7m/€216.3m) in April revenue, down 8.7% on March’s total.

March’s revenue figure of $257.1m was the highest total in Michigan so far in 2024, although comparably April’s numbers fell short. Nonetheless, April’s revenue total still beat January and February, which produced $229.6m and $218.5m respectively.

Year-on-year, April revenue was 20% ahead of the same month last year, when Michigan’s sports betting and igaming operators reported revenues of $195.7m.

Igaming revenue down but sports betting stable in Michigan

Igaming revenue fell from $215.5m in March, Michigan’s strongest igaming month to date, to $192.9m in April.

Sports betting handle, meanwhile, also dropped significantly. Michigan’s online sports betting operators took $399.1m in bets in April, down from $480.4m in March. However, April sports betting revenue stayed stable at $41.9m.

In terms of monthly adjusted gross receipts (AGR), igaming and sports..

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

AGA reports record quarterly US revenue with 13th straight quarter of growth

The American Gaming Association (AGA) reported a quarterly commercial gaming revenue record of $17.7bn (£14bn/€16.3bn) in the US for Q1.

March marked the 13th consecutive quarter of growth in US gaming revenue, according to the AGA’s Commercial Gaming Revenue Tracker. The tracker provides state-by-state and cumulative insights into the US industry’s performance, utilising state revenue reports.

Revenue in March alone was $6.1bn, the US industry’s second highest grossing month ever.

Q1 saw 11 states set new quarterly revenue records for gaming. These included New York and Pennsylvania, two of the US’ largest commercial gaming markets.

A record $14.7bn was paid to state and local governments in tax contributions deriving from direct gaming tax revenue across 2023. This was up 9.7% from 2022 and doesn’t include further contributions in income, sales or other taxes.

AGA president and chief executive Bill Miller believes 2024 will prove a crucial year for the US market.

“While gaming’..

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 13, 2024

Fanatics SVP of trading Wright departs after two years

Andy Wright has announced he has left his role as senior vice-president of trading at Fanatics Betting and Gaming (FBG).

Wright joined Fanatics in May 2022 from his previous position of trading director at KingMakers.

Wright’s time at Fanatics saw the company launch its sportsbook offering in January 2023. With its launch at the then-named FedExField in Maryland, Fanatics became the first sports betting operator to open a retail sportsbook within a National Football League stadium.

Fanatics has since expanded across the US, launching its online casino in November 2023. Additionally during Wright’s tenure, FBG acquired PointsBet’s US business for $225m (£179.2m/€208.5m).

In a Linkedin post, Wright stated he was “incredibly grateful” for his time at Fanatics helping to build its betting and gaming division.

“Now it’s time to recharge the batteries and spend more time with the family before finding a new venture,” Wright said.

“All the best to the team at Fanatics Betting & Gaming. ..

May 9, 2024

Brazil bettors set to face 15% tax on winnings

A new normative ordinance in Brazil has confirmed a 15% tax on player winnings above BRL2,824 (£437.77/€508.05/$547.25).

The Special Secretariat of Federal Revenue of the ministry of finance published Normative Ordinance No 2,191 in the Official Diary of the Union on Tuesday. The ordinance outlined the tax framework for betting in Brazil after the Federal Revenue Service (RFB) confirmed its ruling for a personal income tax (IRPF) on betting.

Brazil is in the process of clarifying its betting laws. The country passed legislation to regulate sports betting and igaming on 21 December. President Luiz Inacio Lula da Silva signed Bill 3,626/2023 into law in late December.

There will be a 15% personal income tax in Brazil, as decided by the Economic Affairs Commission in November. However, the tax will only apply on net winnings of more than BRL2,824. The tax will apply at the time of winnings being paid and be taxed at source before a player receives their winnings. The betting operator w..

April 29, 2024

Multiple US states considering new betting restrictions

Six years after legal sports betting became a states' rights issue, legislatures and regulators across the country have upped their focus on consumer and athlete protections. In the last week, bills that would ban using credit cards to fund digital gambling accounts and ban college player prop bets have been filed.

Next week, Wyoming’s regulator will begin its foray into additional athlete protection by exploring the college player prop ban idea.

In Pennsylvania last week, State Senator Wayne Fontana filed senate bill SB 1159, which would prohibit the use of credit cards to fund any kind of online gambling, including casino, lottery and sports betting. Pennsylvania law currently allows consumers to use credit cards to fund accounts, but problem and responsible gambling advocates say the practice is bad for those with addiction issues.

“There is a significant body of evidence that highlights the increased levels of harm if you gamble utilising credit cards,” responsible gambli..

April 25, 2024

iGB releases inaugural LatAm gambling market report

Produced in partnership with Sportingtech, our new LatAm Gambling report examines the biggest opportunities in the industry’s latest growth market.

Our goal with our new iGB LatAm report is to offer the industry the most comprehensive source of information for one of the world’s hottest emerging regions.

Home to some 650 million people, and with a total gambling market projected to reach $30bn annually by 2028, all eyes are on LatAm in what will no doubt be this decade’s biggest growth opportunity.

As regular readers of iGB will know, a long and occasionally fraught process to regulate gambling in Brazil came to a close in December 2023. With the signing of Bill 3,626/2023 into law, we’re about to see one of the most hotly anticipated markets come online after more than a decade of parliamentary process.

What’s in the iGB LatAm gambling report?

Of course, Brazil is the big opportunity in the region, but we’re covering far more in our first LatAm report.

BRAZIL, ARGENTINA AND..

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Tag: Gaming