Online casino – Page 6

June 26, 2024

Betsson secures betting and igaming licences in Peru

Online gambling operator Betsson today said it has secured a licence to operate the Betsafe and Bettson brands in the newly regulated Peru market.

The licences cover online casino and sports betting for both brands and Betsson expects to also soon obtain approval for its Peru-facing Inkabet business.

Betsson has had a presence in Peru since 2008. In 2019, it expanded its reach in the country by launching its Betsafe brand. Two years later, it also acquired locally-licensed online betting and sports brand Inkabet for $25m.

Regulation of the Peru market earlier this year meant Betsson had to secure full licence approval to continue operating in the country. Law no 31557, which regulates online gaming and sports betting, went into effect on 9 February.

Operators had until 10 March to apply for a licence. Peru’s ministry of foreign trade and tourism received 145 requests for operator licences from both national and international operators.

“We have really looked forward to Peru introd..

June 19, 2024

Ontario igaming outperforms five-year state contribution and employment targets says Deloitte

Ontario’s commercial igaming sector outperformed various five-year economic contribution targets set by Deloitte between 2023 and 2024, including jobs sustained and government revenue contributions.

According to a report by Deloitte published on 19 June, the igaming market in Ontario hit or almost reached many of Deloitte’s year-five projections within its second year, with the market (excluding the state-backed lottery operator) contributing CA$2.7bn (US$1.97m) to GDP and sustaining almost 15,000 full time equivalent jobs in the province.

Of this, $1.3bn contributed to labour income. In comparison, market contribution in Ontario’s first year of operation hit $1.58bn, after Ontario’s online gambling market went live on 4 April 2022.

Between April 2023 and April 2024, direct jobs sustained hit 120% of Deloitte’s five-year prediction, with government revenues (94%), total full-time jobs sustained (92%) and GDP contributions (93%) also outpacing initial expectations.

The report said..

June 19, 2024

Michigan online gambling revenue tops $239.5m in May

Online gambling revenue in Michigan hit $239.5m (£188.3m/€223.0m) in May, a year-on-year increase of 28.9%, with growth across both the online casino and sports betting markets.

According to the latest Michigan Gaming Control Board (MGCB) figures, the state’s revenue total cleared the $185.8m posted in May last year.

It was also 2.0% ahead of the $234.8m generated in Michigan in April this year.

Gross receipts from online casino activity amounted to $198.6m, up 31.9% year-on-year. As for sports betting, gross receipts here hiked 15.2% to $40.9m, with handle also rising 19.2% to $343.7m.

Adjusted gross receipts up 31.2%

In terms of adjusted gross receipts, taking into account promotional spending, there was also growth. Total adjusted gross receipts for the igaming market were 31.2% higher at $206.8m.

Adjusted online casinos receipts jumped 31.9% to $178.7m, with adjusted sports betting receipts up 27.7% to $28.1m.

The figures cover igaming activity across both commercial and ..

June 19, 2024

Pennsylvania igaming revenue jumps 24% in May

Growth within the igaming market drove gambling revenue in Pennsylvania up 8.7% year-on-year to $521.0m (£409.9m/€485.2m) in May, while the Keystone State also posted increases across sports betting and the land-based sector.

Igaming gross revenue came in at $174.1m in May, up 23.5% year-on-year.

Total revenue in May was comfortably higher than $479.4m in the same month last year. It also surpassed the $504.6m reported in Pennsylvania in April this year by 3.3%.

While the igaming segment saw the most growth, land-based slots remain the main source of gambling revenue in Pennsylvania. For May, revenue from physical slots hit $214.1m, a rise of 1.6%.

Mobile sports betting gross gaming revenue increased 10..5% annually to $59.1m on a handle of $557m, which marked an uptick of 21% on the previous year. Promotional spend across operators was up 6.3%.

In the land-based sector, table games revenue edged up 2.5% to $83.7m.

Deutsche Bank noted gross gaming revenue for both Caesars and ..

June 17, 2024

Bet365 gaining NJ market share as May statewide betting handle rises 8%

Bet365 looks to be gaining market share in New Jersey sports betting as it reported $3.5m in gross revenue for May, according to the NJ Division of Gaming Enforcement's monthly revenue figures.

The UK-headquartered operator reported year-to-date betting revenues of $16.6m for the month, coming in at fifth place behind BetMGM with $26.7m, PointsBet’s $88.3m, DraftKings’ $123.1m and FanDuel’s $211.4m.

FanDuel topped the list in May with $36.7m in gross betting revenue for the month, with DraftKings a close second at $22.1m and BetMGM trailling in third place with $5.6m, down 17.1% on last year’s total.

The regulator began publishing monthly numbers by each operator in January, after previously showing only the revenues raised by each master licence, which accounts for multiple operators.

Also of note was ESPNBet’s gross betting revenue of $2.6m and PointsBet’s losses of $201,201 during the month. The former recorded year-to-date revenues of $5.1m and the latter of $88.3m in ..

June 10, 2024

Weekend Report: Rhode Island credit limit potentially on the rise

Welcome to the Weekend Report, where iGB updates you with the stories you may have missed over the last few days.

Rhode Island credit limit potentially doubling

On Thursday (6 June), the Rhode Island senate voted to increase the outstanding credit per player to $100,000 (£78,697/€92,973). The house is now expected to review the bill this week.

The amended bill passed with a vote of 28-5 to raise the limit from the previous $50,000 which had been in place since 2014.

Igaming launched in Rhode Island in March. Bally’s Corporation essentially has a monopoly on igaming in Rhode Island following state legislators’ 2021 approval of a 20-year contract for Bally’s and supplier IGT.

The bill was introduced by Senator Frank Ciccone III and Senate President Dominick Ruggerio. The bill’s text states that the aim of the rising credits is to “increase Rhode Island’s competitiveness in the gaming industry”.

However, the bill is also facing opposition. As reported by the Rhode Island Current, Se..

June 4, 2024

Spain online gambling revenue rises to €350.7m in Q1

Gross online gambling revenue in Spain amounted to €350.7m (£298.6m/$381.6m) during Q1, a 15.1% increase from the opening quarter of last year and 11.2% ahead of Q4.

The Q1 total was comfortably ahead of €313.3m in the same period last year. It is also more than the €315.3m generated in Spain in the final quarter of 2023.

Casino remains the primary source of revenue, generating €167.8m in Q1, or 47.8% of all market revenue. The quarterly total was 17.0% higher than last year but 2.1% behind Q4.

Year-on-year casino growth was helped by a 15.0% rise in slots revenue and 22.2% rise in roulette revenue. Growth was also reported across blackjack and roulette.

Elsewhere, sports betting revenue amounted to €150.3m, representing 42.9% of overall revenue for the quarter. This is 15.4% higher than Q1 last year and also 31.0% ahead of Q4.

Within this market, pre-match betting activity rocketed by 588.8% year-on-year but in-play bets were down 31.7%. Other bet types edged up 1.6% while horse ..

May 24, 2024

Delaware sports betting growth continues as expansion bill progresses

Delaware reported further year-on-year growth across sports betting handle and revenue in April, while a bill proposing plans to expand the state’s online market beyond its current monopoly has moved forward.

Introduced in April, House Bill 365 is seeking to open up the Delaware online market to more operators. This comes just months after the Delaware Lottery launched its first online sportsbook with Rush Street Interactive and BetRivers.

The Lottery’s sportsbook went live in January and has already had a marked improvement on the Delaware sports betting market. Monthly handle and revenue totals are higher, with this trend continuing into April.

Against this background of early success, lawmakers are already looking at ways to grow the market further.

At the centre of this is HB 365, which this week was assigned to the house appropriations committee. The bill had been assigned to the house administration committee upon its introduction in mid-April, but no further action was take..

May 23, 2024

ACMA orders blocking of more illegal gambling websites

The Australian Communications and Media Authority (ACMA) has requested the blocking of a further eight websites it deems to be offering gambling in the country illegally.

ACMA said each of the sites is operating in breach of the Interactive Gambling Act 2001. As such, it is requesting internet service providers (ISPs) to block access to the illegal sites.

Domains flagged include Jogi Casino, Dundee Slots, Lucky Hunter, Lucky Wins, Lukki Casino, Spin Fever, Clubhouse Casino and Winport Casino.

Since the ACMA made its first blocking request in November 2019, some 975 gambling and affiliate websites have been blocked. In addition, over 220 illegal services have pulled out of Australia since the ACMA started enforcing illegal offshore gambling rules.

ACMA committed to protecting players

Website blocking is one several enforcement options to protect consumers against illegal gambling services.

ACMA says it can take such action if a site offers games not covered by Australian law such..

May 21, 2024

Michigan online gaming revenue drops 8.7% to $234.8m in April

Michigan sports betting and igaming operators reported $234.8m (£184.7m/€216.3m) in April revenue, down 8.7% on March’s total.

March’s revenue figure of $257.1m was the highest total in Michigan so far in 2024, although comparably April’s numbers fell short. Nonetheless, April’s revenue total still beat January and February, which produced $229.6m and $218.5m respectively.

Year-on-year, April revenue was 20% ahead of the same month last year, when Michigan’s sports betting and igaming operators reported revenues of $195.7m.

Igaming revenue down but sports betting stable in Michigan

Igaming revenue fell from $215.5m in March, Michigan’s strongest igaming month to date, to $192.9m in April.

Sports betting handle, meanwhile, also dropped significantly. Michigan’s online sports betting operators took $399.1m in bets in April, down from $480.4m in March. However, April sports betting revenue stayed stable at $41.9m.

In terms of monthly adjusted gross receipts (AGR), igaming and sports..

May 17, 2024

New Jersey gambling revenue up in April despite land-based decline

Gambling revenue in New Jersey hiked 10.4% year-on-year to $510.9m (£403.7m/€470.6m) in April with increases across the igaming and sports betting segments more than offsetting a decline in the land-based market.

Total revenue was comfortably higher than $462.7m in April last year. However, the figure fell 3.0% short of the $526.6m reported in New Jersey in March this year.

Beginning with land-based casino, this remains the primary source of gambling revenue in the Garden State. However, the $216.8m generated in April is 6.3% behind $231.5m last year.

Physical slot machine revenue declined by 6.4% to $158.8m while land-based table games revenue also fell 6.1% to $58.1m.

Further igaming success for New Jersey

Turning to the igaming sector, the situation is very different. Revenue from all igaming in April hit $187.9m, up 18.2% year-on-year. This means igaming was only $28.9m behind the long-established land-based segment in April.

Some $185.6m of all igaming revenue was attributed..

May 7, 2024

New ordinance reveals some exceptions for data centres outside Brazil

New rules outlined by the Regulatory Policy of the Prizes and Betting Secretariat (SPA) and the ministry of finance have outlined some exceptions will be made for data centres to be located outside Brazil.

Brazil’s Official Diary of the Union published Normative Ordinance No 722 last week. The new ordinance comes with Brazil clarifying its regulation after a four-part regulation rollout was announced in April. This follows Brazil passing legislation on 21 December to allow for sports betting and igaming. President Luiz Inacio Lula da Silva signed Bill 3,626/2023 into law later that month.

Normative Ordinance No 722 has outlined the rules around betting systems, such as the relevant technology and security requirements. Notably, the ordinance clarified special situations where it will permit data centres to be outside Brazil.

Special circumstances for data centres outside Brazil

The new ordinance outlines that data centres must be located in Brazil. However, specific conditions coul..

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Tag: Online casino