Online casino – Page 16

June 8, 2023

GB online gross gambling yield reaches £1.30bn in Q4

Online gross gambling yield (GGY) in Great Britain increased 5% year-on-year in the fourth quarter to £1.30bn (€1.51bn/$1.62bn), while GGY for the land-based sector also improved.

The latest gambling behaviour report released by the Gambling Commission covered activity in January, February and March 2023, a period that included the Cheltenham Festival horse racing event.

The Commission said the increase in online GGY was primarily driven by growth in real event betting and slots. The regulator also noted a rise in the total number of bets and spins, as well as average monthly active accounts.

Online real event betting was up almost 13% to £555m, with the number of bets 19% higher and average monthly active accounts 9% up year-on-year. The Commission put this down to the popularity of the Cheltenham Festival and player retention from the 2022 Fifa World Cup late last year.

Meanwhile, online slots GGY edged up 2% to £525m, helped by a 9% rise in the number of spins to 19.5 billion an..

June 7, 2023

Adam Greenblatt outlines BetMGM’s path to profitability

The US sports betting and igaming market is maturing and at BetMGM Adam Greenblatt believes product is the battleground where the leaders will be decided for the market’s next phase.

Adam Greenblatt has led BetMGM, the joint venture between Entain and MGM Resorts since its formation in 2018. It is on track to achieve profitability in the second half of the year.

BetMGM is live in 20 states, as well as Washington DC and Puerto Rico and Ontario in Canada. Since 2018, it could be seen as the only business to consistently keep pace with DraftKings and FanDuel.

It didn’t have the database of the legacy daily fantasy giants. But thanks to the MGM Resorts connection (and without M&A along the way), it’s established as a top tier brand in the US.

Other brands with designs on a top tier position such as Caesars, Bally’s, Penn National and 888, have undergone significant change. They’ve acquired to grow, onboarded new tech or sought out new partners.

This may help each business close the..

May 31, 2023

FL highlights “solid” Betclic growth in stable Q1

FL Entertainment highlighted the “solid” 16% revenue growth of its gaming subsidiary Betclic in a stable Q1.

Overall FL’s online sports betting and gaming revenue rose to €244m in Q1, up 14.5% from the previous year.

Chief executive François Riahi said the business’ betting and gaming divisions continued to “perform well” during the quarter. He added that the business was carried by the positive impacts of the 2022 Fifa World Cup “which resulted in double-digit revenue growth across all activities”, he said.

the business said it was “carried” by the positive impact of the world cup

The company also pointed to the high level of new active players, which increased 55% year-on-year. FL said that this resulted from the football tournament, as well as “successful cross selling strategies” across the business’ other products.

FL Q1 segment growth

All of the verticals experienced growth during the period. The company’s sportsbook revenue rose 11.3% to €194.8. Casino increased 31.6% to ..

May 24, 2023

International growth offsets NA decline in Super Group Q1

Growth in Betway-operator Super Group’s African, Middle Eastern and European operations partially offset the decline in revenue experienced in the company’s North American division.

Super Group chief executive Neal Menashe praised the “solid” result in Q1 and emphasised that the company remained focused on profit and revenue growth.

“During the month of March, net gaming revenue was a record high, along with the operational EBITDA margin of over 20% and this is a strong reminder of the value of operating leverage in our business,” he said.

“We are confident that we will continue to build on another strong quarter across igaming and sports betting across the world.”

Regulation in Ontario throttles North American segment

Super Group reported €338.5m for the first three months of 2023, a 1% rise from the €334.5m the company achieved in the same period of the previous year.

Overall, Super Group’s Betway sports betting and gaming business generated €198.2m of the total, while the op..

May 24, 2023

Fanatics’ Matt King brings new thinking to US sports betting

As CEO of FanDuel, Matt King took a daily fantasy sports brand to the top of the US sports betting industry, and in the top job at Fanatics Betting and Gaming he’s looking to do it all over again. Not that he’s looking to emulate his former employers in leading the ecommerce giant; it’s Spotify that inspires him.

For Fanatics Betting and Gaming chief executive Matt King, the challenge he is taking on isn’t building a market leader. He’s already done that during his tenure at FanDuel, which is currently sitting with a seemingly unassailable market share across the US. Revenue there grew from $200m to over $1bn on his watch.

And his core goal isn’t to build an entity capable of taking on a behemoth he created. Instead the billion-dollar question is: how do you create something capable of providing a genuine alternative to consumers?

In a market dominated by iTunes, he’s looking to build Spotify.

Fanatics: Officially licensed everything

What separates Fanatics Betting and Gaming f..

May 19, 2023

Lithuania gambling revenue jumps 26.1% in Q1

Gambling revenue in Lithuania increased 26.1% year-on-year during the first quarter, with growth across both the online and land-based segments.

Total revenue in Lithuania during the three months to 31 March amounted to €55.3m (£48.0m/$59.7m), up from €43.9m in the same period last year.

Some €36.6m came from online gambling, a 36.0% year-on-year rise. The majority of this came from Category A online slots, with these games generating €23.1m in revenue from €306.8m in player bets.

A further €979,987 came from Category B slots after consumers spent €6.3m betting.

Lithuania’s remote sports betting revenue reached €9.6m, after players wagered €151.2m, while online table games activity resulted in €2.9m in revenue from €31.3m in spend for the quarter.

Turning to land-based gambling and revenue was 10.0% higher at €18.7m. Category B slot machines were the primary source of revenue, generating €8.0m in revenue after players bet €50.7m.

Category A slot machine revenue reached €3.8m from..

May 19, 2023

Soft2Bet lands betting and casino licences in Greece

Software solutions provider Soft2Bet has secured betting events and casino games remote gaming licences in Greece.

Issued by the Hellenic Gaming Commission’s Gaming Supervision and Control Commission (EEEP), the licences will enable Soft2Bet to roll out its online betting and casino products in the country.

The Greek licences follow recent approvals in Ireland, Denmark and Sweden, and form part of the provider’s wider growth plans in Europe.

Soft2Bet also said the approvals support its ongoing focus of operating in more regulated markets around the world.

“The issuance of our betting events and casino games remote gaming licences in Greece is a terrific step forward for us,” Soft2Bet’s group general counsel, David Yatom, said. “We view this as a springboard for further growth and are excited to pursue additional licence opportunities in the near future.

“Soft2Bet remains focused on and committed to expanding its operation and bringing our exceptional gaming experience to even fur..

May 18, 2023

PA gambling revenue reaches $476.7m in April

Gambling revenue in Pennsylvania climbed 3.3% year-on-year in April but fell short of the monthly record set in March.

Total market revenue for the month amounted to $476.7m, up from $461.6m in April 2022 but 7.5% lower than the record $515.3m in March of this year.

Land-based slots, the primary source of revenue for the state, declined 2.2% year-on-year to $213.0m. Retail table games also slipped 7.8% to $84.4m.

In contrast, online casino gaming revenue jumped 21.3% to $137.2m. Internet slots revenue was up 24.7% to $95.6m and igaming tables revenue climbed 16.1% to $38.9m, although ipoker revenue slipped 7.0% to $2.7m.

Hollywood Casino at Penn National retained top spot with $58.5m in total igaming revenue. Valley Forge Casino Resort was second with $31.2m, then Rivers Casino Philadelphia on $26.1m.

Read the full story on iGB North America

May 17, 2023

Michigan revenue takes a tumble after record-breaking month

Commercial and tribal operators in Michigan generated $195.7m ($156.9m/€180.7m) from online and sports betting receipts in April, down by 9.5% compared to March.

Online gaming contributed $159.4m to this, compared to the $171.8m record achieved in March. Gross sports betting receipts fell by 18.6% to $36.3m.

Adjusted gross receipts, which account for promotional spending, combined to total at $167.9m. This was made up of $143.4m from online gaming and $24.5m from sports betting.

Read the full story on iGB North America

May 17, 2023

NJ gambling revenue up 9.5% in April despite slots decline

Gambling revenue in New Jersey increased 9.5% year-on-year in April despite a drop in slot machine win, the state’s primary source of gaming revenue.

Total revenue for the month reached $462.7m, up from $422.5m in April 2022 but 5.1% behind the $487.4m generated in March of this year.

All areas of the market experienced year-on-year growth, with the exception of land-based slots where revenue fell 3.2% to $169.7m. Retail table games revenue edged up 2.9% to $61.8m, but the slots decline meant total land-based revenue fell 1.6% to $231.5m.

Read the full story on iGB North America

May 3, 2023

Delaware sports betting handle continues to decline in March

Player spending on sports wagering in Delaware fell to a seven-month low in March, although the state was able to report an increase in igaming wagers.

Betting handle for the month amounted to $3.5m, which was 32.7% lower than $5.2m in the same month last year and 14.6% behind the $4.1m wagered in February this year. This was also the lowest monthly total since August 2022.

However, sports wagering revenue was $544,385, only marginally lower than $553,465 in March 2022 and 77.6% higher than $306,573 in February.

Read the full story on iGB North America

April 27, 2023

What’s covered in the Gambling Act white paper?

After years of delays and speculation, the most transformative review of gambling in the United Kingdom in 18 years has finally been published.

The publication of the Gambling Act review white paper signifies a landmark upheaval of how gambling will be regulated in the UK going forward, in an age of smartphones and 24/7 internet access.

To say the review has been much anticipated would be an understatement. Industry trade bodies, operator groups and industry critics alike have waited eagerly for the white paper’s publication.

It has been an eventful two years and four months since the UK government announced the review – one that has encompassed the resignations and appointments of two prime ministers, the declaration of a cost of living crisis and Russia’s invasion of Ukraine.

While the white paper document outlines much of what the industry expected, it contains a few unexpected additions – including the addition of a gambling ombudsman, to give customers one point of contact for..

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Tag: Online casino