Online casino – Page 12

October 13, 2023

Ontario igaming revenue more than doubles in Q2

Online gambling revenue in Ontario more than doubled year-on-year in Q2 to CA$540m (£324m/€375m/US$395m), while player spending in the Canadian province rocketed 132%.

Total igaming revenue in Ontario for the three months to 30 September was up 105% from $267m in Q2 of last year – the second full quarter since the regulated market opened in April 2022.

Of this total, $407m came from online casino activity in Ontario. A further $118m in revenue was generated from internet sports betting and $16m online poker. Revenue covers all cash wagers, rake fees, tournament fees and other fees, minus player winnings.

As for player spending, total igaming wagers in Q2 reached $14.20bn. This was significantly more than the $6.04bn spent during Q2 of last year.

Consumers spent $11.90bn on internet casino games, $1.90bn on sports betting and $397m online poker. Players spending does not include promotional wagers such as bonuses and free bets.

Ontario: an expanding igaming market

The figures, pub..

October 11, 2023

NorthStar Gaming to expand reach across Canada

Ontario-based operator NorthStar Gaming is to expand the reach of its online casino and sportsbook across Canada.

Since launching in May 2022, the NorthStar Gaming offering has only been accessible in Ontario. However, this will now be available across all provinces and territories in Canada with the launch of NorthStarBets.com.

The launch is possible following the acquisition of Slapshot Media earlier this year. Slapshot Media delivers marketing and operational management services to sports betting and igaming operators.

As such, NorthStarBets.com is available through a wholly owned subsidiary of NorthStar acquired through the Slapshot Media deal.

NorthStar customers in Ontario can continue to access the platform through the NorthStarBets.ca website.

“We are thrilled to take this ground-breaking step and become a truly national brand,” NorthStar chair and CEO Michael Moskowitz said. “As a Canadian company, we are confident we understand local consumers better than the large inter..

October 4, 2023

LeoVegas returns to the Netherlands with new website

Online gambling operator LeoVegas Group has returned to the Netherlands with the launch of its new Dutch-facing LeoVegas.nl website.

The site offers a range of online casino games, live casino and sports betting. Customers in the Netherlands can access slot games and live table games with Dutch-speaking croupiers.

The launch comes after LeoVegas secured a new licence in the country in July through its LeoVegas Gaming business. Issued by national regulator Kansspelautoriteit (KSA), the five-year licence covers casino, live casino and sports wagering activities.

“The king of casino is finally home in the orange kingdom,” LeoVegas Group CEO Gustaf Hagman said. “I am delighted that we are taking steps into the Dutch market.

“The combination of a well-known brand, our platform and cutting-edge content will make LeoVegas.nl a contender for the leader’s jersey in the Dutch igaming market.”

LeoVegas back after two years away

LeoVegas previously operated in the Netherlands before the c..

October 3, 2023

Mobile gaming dashboard powered by H2

iGB’s principal data partner H2 Gambling Capital provides headline metrics on the global mobile igaming market, with forecasts now extended to 2028.

Last updated 03/10/2023

October 2, 2023

Super Group exits India over new online betting tax

Betway operator Super Group has withdrawn from the Indian market in response to a new online gambling tax rate that came into effect this month.

Operators are now having to pay a flat 28% turnover tax for online gambling, casino and horse race betting. The rate came into effect yesterday (1 October) after being announced by the Goods and Council Tax Council (GST) in India in July.

Super Group says the new rules mean the Indian market is no longer commercially viable for the business. As such, it has dropped all services with immediate effect.

“We are continuously evaluating evolving regulatory landscapes across the many markets we serve,” Super Group CEO Neal Menashe said. “Informed by years of operating our geographically diverse business, we remain confident about the long-term growth opportunities in front of us.”

Super Group adds that despite the exit, full-year financial projections are unchanged.

Industry body blasts higher rate

Tax will be applied to the full-face value o..

September 28, 2023

Envisioning a world beyond bonuses

With the industry’s most tried-and-tested incentives being curtailed by regulators across Europe, many operators are looking at new ways to attract and retain players. Among the alternative options being considered is free fantasy football, writes Jacob Kalms, CEO and co-founder of 20Shots.

Bonuses have long been one of the most relied-upon tools in online gambling operators’ armoury, and with good reason.

There’s no denying that bonuses are a proven way to both attract and retain players. But across Europe, rightly or wrongly, there seems to be a growing view among regulators that they might be working a bit too well for gambling companies and that this is to the detriment of players.

We’ve already seen countries such as Spain, Sweden and Denmark bring in restrictions on what bonuses operators can offer. France indicated last year that it intends to follow suit. The publication of the UK government’s Gambling Act review white paper, and now the Gambling Commission’s ongoing consult..

September 27, 2023

Portugal online gambling revenue reaches record €205.9m in Q2

Online gambling revenue in Portugal amounted to a record €205.9m (£179.1m/$217.5m) in the second quarter, driven by growth within the internet casino segment.

Revenue was comfortably higher than €145.2m in Q2 of 2022. The figure was also up 4.9% on the existing record of €196.4m set in Q1 this year.

Online games of chance accounted for €122.0m of all revenue in the quarter, up 51.6% on last year. This was a new record for the segment, according to regulator the Gaming Regulation and Inspection Service (SRIJ).

Players spent €3.24bn on internet casino games during Q1, another new record for Portugal. Slot machines drew 82.5% of all online casino spend, with French roulette at 7.6% and then blackjack on 5.4%.

Turning to sports betting, revenue in this sector reached €84.0m, up 29.8% on 2022 but a slight drop from Q1 this year.

Consumer spending on sports betting reached €357.6m during the quarter. This was 17.1% more than the same period last year but 19.0% lower than in Q2. It was a..

September 27, 2023

Flutter acquires majority stake in Serbia’s MaxBet for €141m

Flutter Entertainment has acquired an initial 51% stake in Serbian omnichannel sports betting and gaming operator for €141.0m (£122.6m/$149.0m) in cash.

The deal, Flutter says, provides the group with access to the regulated Serbian market and supports its ongoing expansion plans, including within the wider Balkans region.

The agreement also states that Flutter has the opportunity to acquire the remaining 49% in MaxBet in 2029.

Ranked among the leading operators in Serbia with an approximate 20% online share, MaxBet employs more than 2,400 staff. In the 12 months to June 2023, it posted €145.0m in regulated revenue and €32.0m worth of adjusted EBITDA.

The transaction remains subject to customary regulatory clearances but is due to close in the first quarter of 2024.

“I am excited to announce the addition of MaxBet to the Flutter portfolio,” Flutter chief executive Peter Jackson said. “This acquisition continues our progress against the strategic priorities we have set for our inte..

September 25, 2023

BetMGM signs Hollywood star Chris Rock to support UK launch

MGM Resorts International has signed Hollywood actor Chris Rock to support the launch of its BetMGM brand in the UK market.

As an ambassador, Rock will feature in a range of marketing campaigns to promote the UK roll-out of BetMGM.

The first such campaign is now live, with Rock sharing details of various special offers to market the launch. These include bonuses and prices boosts, as well as information about exclusive content available from BetMGM.

BetMGM has also rolled out a responsible gambling advert specific to the UK market. Both campaigns are active across live sport, TV, out of home, digital, radio and social.

“We are incredibly excited to launch BetMGM in the UK and give customers something new,” BetMGM UK director Sam Behar said. “This campaign leverages the heritage of MGM Resorts’ best-in-class Las Vegas entertainment to deliver a unique proposition to the UK market.

“Alongside standout promotions and our A-list ambassador Chris Rock, this campaign clearly demonstra..

September 25, 2023

Entain online revenue fails to meet expectations in Q3

Safer gambling measures, slower growth in key markets and sporting results hindered Entain's Q3 performance, although the group remains on track to hit EBITDA guidance.

In a trading update, Entain says online net gaming revenue (NGR) has been mixed across the group in recent weeks. While it still expects to achieve growth during Q3, Entain says that, on aggregate, this will be softer than anticipated.

Third quarter online NGR growth is now expected to rise by a high single-digit percent. However, Entain also says it will likely decline by a high single digit percent on a pro forma basis.

Reasons for this, Entain says, include adverse sports results impacting sports margins during September and slower growth than expected in Australia and Italy. It also noted the impact of safer gambling measures across the group and ongoing regulatory headwinds persisting longer than expected, particularly in the UK.

However, Entain also noted drivers of growth within its online business. The..

September 18, 2023

EGBA urges Norway to drop online gambling monopoly

The European Gaming and Betting Association (EGBA) has urged lawmakers in Norway to switch from its current monopoly system to a licensing model for online gambling.

Norway remains one of the last European countries with a state gambling monopoly. Lottery Norsk Tipping has the rights to online casino gaming and sports betting, while Norsk Rikstoto covers horse racing.

However, EGBA says Norway should follow the example of other European markets such as neighbouring Sweden and Finland and make the move to a licensing system. EGBA secretary-general Maarten Haijer said this would help combat issues such as consumers gambling with unlicensed sites.

“The belief that a monopoly model is essential for safer gambling does not align with the current European trend,” Haijer said. “Nearly every other European country has implemented some form of licensing system, successfully prioritising player safety within a regulatory framework that provides clear rules for companies to follow.

“In Norw..

September 18, 2023

DraftKings claims NJ sports betting top spot in August

DraftKings and partner Resorts World led the New Jersey sports wagering market in August, knocking Meadowlands off top spot for the first time since January 2019.

The partnership heralded $56.9m (£45.9m/€53.3m) in August. This was ahead of Meadowlands and partners FanDuel, PointsBet and SuperBook on $25.7m. PointsBet will soon rebrand as Fanatics after the latter completed the acquisition of the PointsBet US business in eight states, including New Jersey.

Total sports betting revenue for the month amounted to $96.0m, representing a 47.1% rise on last year. This was also the sector with the highest percentage of growth in the state in August.

In addition, sports wagering handle in New Jersey hiked 32.7% year-on-year from $546.8m to $725.8m. Of this total, $697.1m was bet online and $28.8m at retail sportsbooks across New Jersey.

Sports betting drives overall market growth in New Jersey

Total gambling revenue in New Jersey hiked 12.9% year-on-year to $531.6m in August. The monthly t..

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Tag: Online casino