Land-based casino – Page 3

May 9, 2024

Ex-MGM exec Sibella gets probation, $9,500 fine in money laundering case

Wearing a navy blazer and a sombre expression, Scott Sibella said he was sorry. Minutes later, US District Court Judge Dolly M Gee sentenced Sibella to 12 months probation, a $9,500 fine and a $100 special assessment. And so ended the legal portion of Sibella's part in the Wayne Nix illegal gambling ring.

Sibella was sentenced late Wednesday afternoon in the US District Court for the Central District of California.

The lightly attended event was speedy and without drama. Sibella was found guilty of one count of failing to file a suspicious activity report while employed by MGM Grand. He gave Nix, a known illegal bookmaker, $120,000 in exchange for a casino marker.

Sibella, the first to be sentenced in a wide-reaching federal investigation around Nix, stood, head slightly bowed during the 18-minute sentencing.

When he was allowed to speak, he said this: “I want to apologise to the court, my family, my friends, the casino industry. Committing this crime has turned my life ups..

May 2, 2024

Ohio betting revenue drops 3.8% in first month since college prop bet ban

Ohio reported total sports betting revenue of $63.8m (£51.0m/€59.6m) in March, down 3.8% on February’s total of $66.3m.

The sports betting revenue total of $63.8m in March also fell 33.1% short of the same month last year, when Ohio reported revenues of $95.3m. March 2023 was the third month after Ohio launched its sports betting market.

Ohio’s revenue drop was in spite of handle reaching $808.2m in March, significantly up from the $671.1m in bets taken in February. The NCAA Division 1 basketball tournaments are big drivers of handle in the US during the month.

The state’s March handle was also a 9.6% increase on the $737.2m in bets taken in the same month last year.

Taxable revenue stood at $64m, after $738.8m was paid out in winnings and $22.5m was written off in promotions.

Of the $808.2m in handle, online accounted for $784.8m, or 97.1% of the total. Online sports betting revenue was $62.1m, compared to $1.7m in retail.

FanDuel retains lead over DraftKings in Ohio

In terms ..

April 26, 2024

State of the Union: A look at the week that was in North America

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.

Illinois regulator grants DraftKings full mobile licence

On Thursday (25 April), the Illinois Gaming Board unanimously awarded DraftKings a four-year mobile and retail licence. The company has been offering statewide mobile sports betting since 2019. It also opened its sportsbook at historic Wrigley Field last month. DraftKings first entered the Illinois mobile market through a partnership with the Casino Queen in East St Louis in 2019.

The Wrigley Field sportsbook is the second brick-and-mortar book at a professional sports venue in Chicago. FanDuel opened its location at United Center in 2022. Illinois was among the first US jurisdictions to allow sports betting operators to partner with professional sports teams. This also enabled customers to place bets sportsbooks at pro venues. Caesars Sportsbook – th..

April 25, 2024

Time running short for Alabama gambling expansion

Alabama lawmakers told the media earlier this week that a conference committee brokering a deal for an expansion of gambling would meet on Wednesday (24 April) at 2pm local time. But as early as Wednesday morning, the meeting had fallen off the legislative calendar for the day.

A call to the Alabama house of representatives confirmed that the meeting was off for Wednesday (24 April) with no reschedule date. The legislature is now scheduled to close on 5 May. This will leave lawmakers a little more than a week to reach a deal for an Alabama gambling expansion. It will then require approval from the house and senate.

If approved, the decision to approve any gambling expansion would go to the voters. The house version of the bill would put the issue on the November ballot. The senate version would create a special election in September.

Historically with gambling, precious few bills that don’t have consensus relatively early in a session make it to a governor’s desk. Just this year, ..

April 10, 2024

Detroit casino revenue edges up to $123.9m in March

The three commercial casinos in Detroit reported $123.9m (£97.7m/€114.2m) in revenue during March, a 3.9% increase on the previous year.

Revenue in March was clear of the $119.2m posted in the same month last year. March’s total was also 18.5% ahead of the $104.6m recorded in Detroit in February this year.

Some $122.3m of this amount came from slots and table games, up 3.8% year-on-year and 16.7% higher than February.

In comparison, retail sports betting qualified adjusted gross receipts (QAGR) reached just $1.6m. However, this total was 13.2% ahead of last year and a stark improvement on the $120,142 loss reported in February.

MGM continues to lead the Detroit market

MGM Grand Detroit remains some way out in front in terms of market share in Detroit. The casino reported a 46.0% market share in March.

MGM posted $56.7m in table games and slots revenue, up 4.1%, while sports betting QAGR reached $327,857.

MotorCity Detroit placed second with a 31.0% share of the market. Revenue ..

April 2, 2024

Nevada gambling revenue climbs again to $1.34bn in February

Gambling revenue in Nevada increased 8.5% year-on-year to $1.34bn (£1.07bn/€1.25bn) in February, driven by growth within the baccarat segment.

Revenue was clear of $1.24bn in February last year. It was also 4.7% higher than $1.28bn in January this year – the strongest opening month to a calendar year in Nevada history.

Slots drew the most revenue at $827.6m for the month, an increase of 0.6% from 2023. Of this total, $536.6m came from multi-denomination slot games and $207.6m penny slot machines.

However, only multi-denomination slot games reported growth in February. Revenue was lower across all other game types within this segment.

Baccarat was the highest area of growth during February. Revenue here was 75.5% higher at $180.1m. Blackjack revenue was also up 15.6% to $132.5m with craps revenue rising 22.0% to $44.7m.

Other areas of growth include Ultimate Texas Hold’em, where revenue edged up 4.4% to $18.0m, and pai gow poker 4.7% to $10.4m.

Sportsbook revenue rises as Nevada ..

March 28, 2024

Slovaks place €21.4bn in bets over 2023 as online market surges

Slovaks placed €21.4bn (£18.3bn/$23.1bn) in bets during 2023, revealed during a press conference held at the office of the country’s Regulation of Gambling Games.

Martin Bohoš, director general of the regulator, stated players in Slovakia were paid €20.4bn in winnings. Contributions to the state rose by over €50m year-on-year to more than €301m.

In state contributions, the online levy accounted for €93m of the total, while fixed-odds bets were responsible for €80.48m. Land-based casinos, meanwhile, contributed €61.9m to the state.

The online market continues to dominate, with 90% of Slovaks preferring to bet online. For number lotteries, however, online betting accounts for just 14% of bets with Slovaks still preferring to play the lottery at land-based venues.

The tax rate for fixed-odds betting in Slovakia is 22% of gross gaming revenue (GGR) for online operators and 6% of turnover for land-based companies. For casino, meanwhile, the rate is again 22% for online operators. For la..

March 20, 2024

Pennsylvania igaming revenue reaches record $184.9m in February

Online gambling revenue in Pennsylvania hit a record $184.9m (£145.3m/€170.1m) during February, although the state reported year-on-year declines across almost all other markets.

Total gambling revenue in February amounted to $499.1m. This was 9.3% ahead of $456.8m in Pennsylvania last year but 1.6% behind $464.4m in January this year.

Retail slots remain the largest source of revenue in the Keystone State, generating $202.7m, only marginally lower year-on-year. This was despite a decline in the total number of slot machines from 25,708 to 24,962.

Elsewhere in the retail sector, revenue from land-based table games increased by 2.9% to $76.6m.

Online slots and table games growth in February

Turning to the Pennsylvania online market and total igaming revenue was 40.5% higher at $184.9m, compared to $131.6m in 2023.

Online slots revenue jumped 35.6% to $125.9m, while internet table games revenue hiked 56.7% to $56.6m. There was, however, a slight decline in online poker revenue, wi..

March 12, 2024

Maryland second state with lower February sports betting handle

Player spending on sports wagering in Maryland reached $442.6m (£345.7m/€404.7m), an increase on the previous year but lower than January’s total.

Handle was up 30.4% from $339.4m in February 2023. However, it was 18.8% behind the $545.0m bet in Maryland during January this year.

The drop in handle follows the same trend as New York, with the Empire State announcing a reduction in February handle despite the Super Bowl. However, this could also be attributed to the shorter month of February and the NBA All-Star break that ran between 16-21 February.

Of the total in Maryland, $428.4m was wagered online, including $13.4m in free bets, and $14.1m at retail sportsbooks.

Sports betting handle was 18.8% behind the $545.0m bet in January

Taxable win – the amount remaining after deducting prizes, promotional wagers and other amounts – reached $28.1m. This was 51.2% ahead of $18.6m last year but 48.9% short of January’s $55.0m.

Mobile taxable win amounted to $27.1m, while retail wagering..

March 8, 2024

Alabama advances scaled-back gambling bills with sports betting excluded

The Alabama senate has passed a pair of bills that would see lottery and state-regulated gambling legalised, although statewide sports betting has been excluded.

Alabama lawmakers passed HB151 and HB152 in February. In its original form, HB151 would have legalised retail and online sports betting, as well as a state lottery and casinos in areas of the state that have bingo-type games. HB152, meanwhile, was to create a state lottery and gaming commission to regulate gambling in the state.

However, HB151 stalled in the senate, with sports betting and casinos now removed from the bill. The amended HB151 passed by a vote of 22 to 11 on Thursday, reaching the 21 votes required to advance. Meanwhile, HB152 also passed.

The bills still include lottery. Additionally, the bills would authorise the governor to negotiate a compact with the Poarch Band of Creek Indians (PBCI) to regulate gaming activities on tribal lands. The PBCI operates the three existing casinos in Alabama.

Senator Greg Al..

February 21, 2024

Pennsylvania gambling revenue edges up year-on-year in January

Overall gambling revenue in the state of Pennsylvania increased by 2.7% year-on-year to $477.2m (£378.1m/€441.9m) in January.

Revenue was up from $464.4m in January 2023 but 10.7% behind the $534.2m generated in Pennsylvania in December. This revenue comprises land-based slot and table games, online gambling sports betting, video lottery terminals (VLTs) and fantasy sports.

Physical slots remain the primary source of gambling revenue in Pennsylvania at $179.5m, down 11.2% year-on-year. Land-based table games revenue also slipped 13.4% to $72.7m.

Revenue was 10.7% lower than December 2023

Slots drive online gambling growth in Pennsylvania

In contrast, the Pennsylvania online gambling sector reported more growth. During January, revenue from igaming amounted to $149.6m, up 12.4% from last year.

Online slots revenue reached $110.0m, a rise of 22.0%. However, online table game revenue fell 7.8% to €36.9m, while internet poker revenue was almost level at $2.7m.

Hollywood Casino at P..

February 21, 2024

US gaming revenue tops $66.5bn for third consecutive record year

The American Gaming Association (AGA) has revealed US gross gaming revenue (GGR) reached an all-time high of $66.5bn (£52.7bn/€61.6bn) in 2023, the market’s third straight record year.

2023’s total was a 10% hike on 2022’s figure of $60.4bn, which in turn was a significant increase on the $53bn accumulated in 2021.

The strong numbers were aided by a record Q4. This included an all-time high quarterly revenue of $17.4bn, while a record $6.2bn in revenue was generated.

Land-based casinos continue to perform well with a record GGR of $49.4bn in 2023. This was up 3.3% year-on-year, with 19 of the 27 traditional gaming markets recording all-time highs in annual revenue.

Sports betting also demonstrated impressive growth, with $119.8bn in handle and $10.9bn in revenue – both records. These figures were up 27.8% and 44.5% respectively year-on-year.

With the National Indian Gaming Commission’s addition of tribal gaming revenue coming later this year, the US’ total GGR for 2023 is expected..

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Tag: Land-based casino