Land-based casino – Bookielink

New Jersey igaming revenue record tumbles again in October

New Jersey reported a 2.6% year-on-year increase in gambling revenue during October, driven by another record breaking month for igaming.

Meanwhile, the Garden State’s sportsbook operators showed evidence of player-friendly NFL results hitting performance. Major operators have flagged this as a risk to fourth quarter revenue in their Q3 results.

Total gaming revenue in New Jersey across all channels and verticals was $499.8 million (£394.4 million/€472.5 million) in October. This exceeds last year’s $487.1 million monthly total but falls 10.5% short of $558.3 million in September this year.

Licensees paid $55.0 million in taxes for the month, with internet gaming again the main driver. It contributed $31.9 million to that total from a 15% gross revenue levy. Brick-and-mortar casinos (taxed at 8% of GGR) added a further $13.0 million, with $9.9 million and $194,771 coming from online (13% tax) and retail sports betting (8.5%) respectively.

Igaming revenue surpasses land-based casin..

November 15, 2024

State of the Union: New Jersey to ban college props? Polymarket under fire and more

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.

New Jersey bill would ban college-player props

Yesterday (14 November) New Jersey’s house tourism, gaming and the arts committee moved forward a bill that would ban betting college-player prop bets. The bill is likely in response to the NCAA’s campaign to get all US states to ban such bets.

But wagering operators have long argued that banning any kind of bet will only send bettors to the black market. That will take money away from companies and states. And it also puts consumers at risk.

“Player propositions are available on illegal and offshore sportsbooks and removing customers’ ability to place legal wagers will deter bettors from moving to the regulated market,” American Gaming Association SVP of strategic communications Joe Maloney told iGB in May.

Thirteen US states ban betting on college-player p..

November 15, 2024

Philippines gambling revenue up 37.5% in Q3 on online growth

Gross gambling revenue in the Philippines increased 37.5% year-on-year in Q3 after a near-five-fold uptick within the online sector offset declines across the land-based market.

Data published yesterday (14 November) by the Philippines Amusement and Gaming Corporation (Pagcor) shows revenue hit PHP94.61 billion (£1.27 billion/€1.53 billion/$1.61 billion) during Q3. This is clear of the PHP68.79 billion reported last year and 2.7% higher than Q2 this year.

The stand-out result in Q3 was the PHP35.71 billion generated from electronic (or online) gaming, a rise of 465.0%. The Philippines electronic gaming market covers activities such as online casino, sports betting, bingo and specialty games.

Pagcor chairman and CEO Alejandro Tengco talked up the “phenomenal” increase. He said he expects the sector to continue to grow and reach its end-of-year PHP100 billion revenue target in 2024.

“This impressive performance is a strong indication that the use of modern technology and mobile gadge..

November 14, 2024

Q3 online growth fails to offset continued land-based decline in Sweden

Gambling revenue in Sweden hit SEK6.66 billion (£477 million/€574 million/$605 million) in Q3, with growth in the igaming segment failing to offset declines in land-based.

Revenue was 1.3% behind the SEK6.74 billion recorded during Q3 of 2023, Sweden regulator Spelinspektionen reports.

The figure also falls 3.4% short of SEK6.89 billion in Q2 of this year. On top of this, Q3 revenue was the lowest quarterly total since SEK6.58 billion was reported in Sweden in Q1 2023.

Commercial online gambling remains the primary source of gambling revenue in the country by some distance. During Q3, SEK4.33 billion of revenue was reported for this segment, a year-on-year increase of 1.5%. This includes internet-based casino and sports betting activity.

Land-based declines hit Sweden in Q3

However, declines were reported across almost all other sectors of the market. Revenue was down in many core land-based segments, with Svenska Spel’s Casino Cosmopol hit with a 76.5% revenue decline to SEK31 mi..

November 6, 2024

Brazil senate president still expects betting CPI creation despite delays, weeks before legal market launch

Senate president Rodrigo Pacheco still expects a parliamentary inquiry commission (CPI) on betting in Brazil to be established despite ongoing delays, with the legal market just weeks away.

On 8 October, Senator Soraya Thronicke requested the creation of a CPI into betting in Brazil, with the aim of investigating the “growing influence of online virtual gambling games on the budget of Brazilian families”.

The request surpassed the 27 signatures needed, with the commission having 130 days after its establishment to carry out its work. It will have 11 full members and seven substitutes.

The CPI was expected to be installed on 25 October. However, its creation was delayed due uncertainty over which senators would work on the inquiry.

Pacheco maintains the momentum for the establishment of the CPI on betting hasn’t been lost. Its creation is vital, he said, with the legal betting market set to launch in Brazil on 1 January 2025.

“It [the CPI] needs to be installed now and made to work..

November 5, 2024

From Virginia to Missouri, voters to decide fate of these gambling proposals Tuesday

The US presidential election on Tuesday (5 November) could result in major changes to how the country is run but, in four states, gambling expansion is also on the ballot. And in Colorado, the amount of gambling tax dollars earmarked for water projects will be decided.

For the gambling industry as a whole, a decision by Missouri voters to allow statewide retail and digital sports betting would be a prize. Should voters approve Amendment 2, Missouri would be the only US state in 2024 to approve a statewide gambling expansion.

The Missouri Gaming Commission last weekend said it interprets the constitutional amendment to mean that each brick-and-mortar casino location will be eligible for a digital betting licence. The interpretation means companies like Caesars and Penn Entertainment will each get up to three licences. Each company operates three brick-and-mortar locations in Missouri.

In Arkansas, Missouri and Virginia, the fate of a casino licence hangs in the balance. In Maryland..

November 4, 2024

Online growth fails to halt Denmark gambling revenue decline in September

Gambling revenue in Denmark fell 2.8% year-on-year in September as growth within the country’s online sector failed to offset declines elsewhere in the market.

Revenue for September was DKK533 million (£62 million/€74 million/$81 million), data from Denmark regulator Spillemyndigheden shows. This falls short of DKK569 million last year and is also 3.2% less than August’s total.

Online casino gaming remains the primary source of revenue in Denmark by some distance. For September, revenue topped DKK288 million, up 12.1% from the previous year but short of DKK299 million in August.

Some 77.1% of all online casino revenue came from slot machines. Blackjack and roulette each accounted for 6.7% of revenue in this sector, poker 3.6%, bingo 3.1% and other games 2.7%.

Sports betting revenue down 21.7% in Denmark

However, as was the case in August, revenue fell across all other verticals and channels in Denmark. Sports betting saw the biggest decline, with September’s DKK144 million haul 21..

November 4, 2024

Virginia operators report strong September while fate of fifth casino will be decided Tuesday

Virginia bettors wagered $622.1 million (£481.5 million/€ 574.2 million) in September, the third highest amount this year while operators had double-digit hold for the sixth time in the first nine months of 2024.

According to the Virginia Lottery report released on Friday (1 November), operators paid out $550.2 million in wins and had a combined hold of 11.5%. That was the third highest hold of the year. Betting operators had a combined $65.9 million in adjusted gross revenue, the second highest of 2024.

Operators paid the state a combined $9.9 million in tax revenue. Virginia taxes sports betting operators at 15%.

Handle was up 19.6% over September 2023 when bettors laid down $520.3 million in bets. Compared to August, handle was up $206 million. Virginia does not release individual operator information or a sport-by-sport breakdown. But the start of the NFL season in September annually kicks off the busiest betting season of the year.

Virginia operators wrote off a total of $..

November 1, 2024

State of the Union: ESPN-ESPN Bet now linked, Missouri initiative opposition, more

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.

ESPN Bet-ESPN linking now available

On Friday (1 November) Penn Entertainment and ESPN announced that ESPN and ESPN Bet accounts can now be linked. Consumers can “seamlessly track upcoming, live and settled bets within the ESPN app and on ESPN.com.” Connecting accounts will also allow ESPN Bet to offer personalised promotions and bets.

“Bringing this new feature to market is an important step as we work to create a fully interconnected media and betting ecosystem between ESPN and ESPN Bet,” Aaron LaBerge, chief technology officer at Penn Entertainment said via press release. “Account linking allows us to better serve and engage our users by unlocking key personalisation and promotional capabilities. This feature is just the beginning of deeper integrations that will further differentiate the ESPN Bet experi..

October 25, 2024

State of the Union: VA Tech player dismissed, Holt out at IC360, more

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.

VA Tech drops player over Temple betting probe

Temple transfer Hysier Miller has been dismissed from the Virginia Tech men’s basketball team amid a sports betting investigation of Temple, Sports Illustrated reported on 23 October. Last spring, Temple’s game against UAB was flagged for “suspicious activity” by US Integrity. The line for the game opened with UAB as a 1.5-point favourite, but moved to as high as eight. Miller scored eight points and committed three turnovers. His season average was 16 points per game.

That game was the second in which Temple did not cover a point spread – UAB won, 100-72. Despite having a losing regular season, Temple advanced to the ACC championship game and Miller averaged 27.8 points per game during the conference tournament. He announced he was entering the transfer portal ..

October 18, 2024

Pennsylvania: sports betting and igaming growth offset land-based decline in September

Growth across sports betting and igaming helped offset a decline in the land-based market in Pennsylvania during September, allowing the Keystone State to post a 6.2% year-on-year increase in overall monthly gambling revenue.
Revenue for September was $505.9m (£387.9m/€466.5m), according to the Pennsylvania Gaming Control Board (PGCB). This surpasses last year’s total but falls 3.7% short of August this year.

Sports betting was the segment of most growth for Pennsylvania, with adjusted gross revenue rising 46.1% year-on-year to $53.5m. Of this, $47.2m came from online betting and $6.3m wagering via retail sportsbooks across the state.

In terms of player spending, monthly handle reached $811.3m, some 11.7% more than in the same month last year. This resulted in a state-wide hold on taxable revenue of 6.59% for September.

Focusing on operators, FanDuel and partner Valley Forge Casino Resort remain the runaway leaders in Pennsylvania. Revenue for the month reached $27.4m off $320.5m i..

October 18, 2024

New Jersey smashes igaming revenue record again in September

Online gambling revenue in New Jersey reached a new record high for the second straight month in September, while the Garden State also saw year-on-year growth in the sports betting market.
Total gambling revenue across online and retail in New Jersey hit $558.3m (£428.2m/€515.2m) in September. This is 7.1% ahead of last year and 0.6% more than August this year, according to the New Jersey Division of Gaming Enforcement.

Once again, the highlight for New Jersey in September was igaming, with revenue here up 27.1% year-on-year to $208.1m. This surpassed the existing record of €198.4m, which was set in August.

Revenue from content classed as ‘other authorised games’, including online slots and table games, jumped 27.6% to $205.9m. However, online poker revenue slipped 6.9% to $2.2m.

DraftKings remains the leading igaming operator with $45.8m in revenue for September. It was closely followed by long-time rival FanDuel on $45.3m. BetMGM also had a successful month with $26m.

As for mas..

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Tag: Land-based casino