Land-based casino – Page 2

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..

October 16, 2024

Massachusetts sets betting handle and revenue records in September

The Massachusetts Gaming Commission (MGC) reported record sports betting handle and revenue during September, with the Bay State posting year-on-year growth across both its online and retail segments.
During September, handle in Massachusetts hit $678.7m (£519.1m/€623.1m). This is a new monthly high for the state, surpassing the existing record of $658.7m set in December last year.

The September number is up from $512.2m in September last year, according to the MGC, and ahead of the August handle of $447.3m. Online spend amounted to $667.7m, with retail sportsbooks processing $11.1m.

As for revenue, this amounted to $73.5m, surpassing January’s previous $71.1m record. It also beat last September by 47.6% and August by 120.7%.

Online betting contributed $72.2m to the revenue total, while $1.3m came from the retail sector.

In terms of hold, the state-wide figure for Massachusetts during September was 10.83%, based off taxable revenue. The state collected $14.6m in tax, with almost ..

October 15, 2024

Presidential politics could alter gambling expansion landscape in multiple states including Texas

Three weeks from today, US voters will elect a new president. Whoever the winner is, there's likely to be a change in the gambling political landscape in multiple states.
Should Donald Trump become president, there are at least two states – Arkansas and Texas – that could be most affected when it comes to gambling expansions. And if Kamala Harris wins the election, there are another two states in which change could moderately affect the current gambling climate.

Trump could tap Texas governor Greg Abbott or lieutenant-governor Dan Patrick for his cabinet. Either one of those appointments is a potential game changer in the second-biggest state in the US. And in Arkansas, Governor Sarah Huckabee Sanders is a former Trump White House press secretary, so it seems possible that she would be on a short list for another appointment.

Harris’ running mate, Tim Walz, is the current governor of Minnesota. Walz has been supportive of an expansion of gambling and that likely wouldn’t chan..

October 10, 2024

US September round-up: Tennessee, West Virginia and Detroit

Rounding up some of the latest monthly sports betting results in the US, iGB analyses figures from Tennessee, West Virginia and Detroit for September.
Tennessee sets new gross wagers record in September
Starting in Tennessee, the Volunteer State saw gross wagers hit an all-time high of $524.8m (£401.8m/€480.3m). This figure is narrowly higher than the existing record of $517.4m in November last year.

The September total also surpasses last year’s amount by 25.5% and is 52.5% higher than August this year. This is according to data published by the Tennessee Sports Wagering Council.

Tennessee does not publish data on monthly revenue. It does, however, detail gross handle, with this at $520.8m. This is after accounting for $3.9m in undisclosed adjustments.

As for tax, Tennessee was able to collect $9.6m in privilege tax from sports betting during the month. Tennessee operators are taxed at 20%.

West Virginia narrowly misses revenue record
Turning now to West Virginia, revenue fell ju..

October 9, 2024

South Africa gambling revenue reaches record ZAR59.3bn in 2023-24

Gross gambling revenue in South Africa hit a record ZAR59.3bn (£2.58bn/€3.07bn/$3.37bn) in the 2023-24 financial year, while player spending also reached an all-time high.
Revenue was 25.7% higher than ZAR47.12bn in 2022-23, the existing yearly record for South Africa. The latest report from the country’s National Gambling Board covers the 12 months to 31 March 2024.

Sports betting leads the way in South Africa

Sports betting was again by far the largest source of revenue, generating ZAR35.91bn, or 60.5%, of all revenue. This is 51.2% more than in the previous year.

Of this, ZAR28.97bn was revenue from online betting, with the vertical accounting for 49% of overall revenue in 2023-24. Online sports betting is currently only legal in the Northern Cape, Western Cape, Mpumalanga, Limpopo and North West provinces.

Retail betting revenue for the year amounted to ZAR6.94bn, accounting for 19% of all betting revenue or 11.7% of total market revenue.

Revenue flat across other gambling typ..

October 8, 2024

Online casino drives Denmark gambling revenue to DKK571m in August

Gross gaming revenue (GGR) in Denmark reached DKK571m (£64.2m/€76.6m/$84.1m) in August as online casino growth offset declines elsewhere in the market.
The August total was 4.3% ahead of last year, according to data from Denmark regulator Spillemyndigheden. It was also 3.1% more than DKK554m in July of this year.

Growth was driven by a 20.8% year-on-year increase in online casino revenue to DKK299m in August.

This was also ahead of July by 5.3% and not far off the all-time monthly revenue record for the vertical. Spillemyndigheden reported DKK309m in online casino GGR in March of this year.

However, all other segments of the Danish market reported declines in August. The largest drop came in the sports betting sector, where revenue was 14% lower at DKK147m during the month. This was also 1.3% lower than in July.

Land-based woes continue in Denmark
As for the land-based sector, declines noted in recent months continued in August. Physical slot machine GGR was down 0.2% to DKK96m dur..

September 27, 2024

Nevada August betting revenue jumps 39.7% while slots hit total GGR

Rounding up some of the latest monthly state results in the US, iGB takes a closer look at how a drop in slots activity saw overall gambling revenue fall in Nevada in August, while Mississippi reported growth within its retail sports betting market.
Mobile sports betting in Nevada was up 13% on 2023 to $14.8m, data from the Nevada Gaming Control Board shows.

Baseball reaped the highest revenue of all sports during the month, making up $9.7m of the vertical’s revenue in August, while American football betting hit $8.7m. However, hockey and basketball betting activity both generated losses for operators.

Betting across other sports generated $7.6m in additional revenue, with the Control Board noting that $14.8m of all wagering revenue came from mobile.

Meanwhile revenue from sports betting pools, which is counted under table games, jumped 38.9% year-on-year to $25m in August.

The Control Board does not disclose handle details for sports betting.

Nevada revenue down again in August
..

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

Massachusetts hits lowest sports betting revenue this year in August

Sports betting revenue in Massachusetts fell to a calendar year-low during August, though the state was able to report year-on-year growth across both revenue and handle.
Combined taxable online and retail revenue in August reached $33.3m (£25.2m/€29.9m). This is 51.4% more than in Massachusetts last year but 19.2% behind July – and the lowest monthly figure so far this year.

Online betting accounted for $32.9m of all revenue during the month, with retail’s share at just $381,134.

Handle-wise, the $447.3m spent across online and retail was some 42.1% ahead of last year. It is also 8.6% more than the $411.8m wagered on sports in July this year.

Players spent a total of $439.7m betting online during August, in addition to $7.6m at retail sportsbooks across Massachusetts.

In terms of hold, the overall figure for the state’s market in August was 7.71%. Online hold was slightly above this at 7.74%, with retail lower at 6.12%.

DraftKings still the one to beat in Massachusetts
As for in..

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..

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Tag: Land-based casino