Online casino – Page 7

January 22, 2024

Michigan online gambling revenue hits record $2.30bn in 2023

Gross online sports betting and igaming revenue in Michigan hit $2.30bn (£1.81bn/€2.11bn) in 2023, the highest annual total since the Great Lakes State opened its legal market.

Revenue for 2023 was 18.3% higher than the $1.98bn generated in Michigan in 2022. It also far exceeds the $1.40bn from the first year of legal betting in 2021.

Reported figures include licensed commercial and tribal igaming operators in Michigan.

Breaking this down, $1.90bn of total revenue came from igaming and $420.4m gross sports betting receipts. Both of these figures were also new annual records, despite total annual sports betting handle remaining steady at $4.60bn.

After accounting for promotional deductions, adjusted gross receipts (AGR) from igaming and sports betting was $1.96bn. This was up 18.8% from the previous year’s total.

TOTAL revenue for 2023 was 18.3% higher than the $1.98bn generated in 2022

AGR from igaming amounted to $1.73bn, with adjusted gross sports betting receipts hitting $223..

January 19, 2024

Pennsylvania gambling revenue hits record $5.70bn in 2023

Record figures from igaming and sports betting drove gambling revenue in Pennsylvania to an all-time high of $5.70bn (£3.50bn/€5.24bn) in 2023.

The 2023 figure was 9.3% higher than the existing record of $5.21bn, which was set during 2022. Combined revenue in Pennsylvania includes slot machines, table games, sports wagering, igaming, video gaming terminals (VGTs) and fantasy contests.

Physical slots continued to lead the way in terms of revenue in Pennsylvania, with revenue here rising 3.1% to $2.46bn. However, land-based table games revenue slipped 1.9% to $971.7m.

Is igaming closing the gap on land-based gambling in Pennsylvania?

Elsewhere, revenue from igaming in 2023 hit $1.74bn, beating the previous record set in 2022 by 27.7%. The Pennsylvania Gaming Control Board (PGCB) did not publish a full breakdown of revenue per game type for this market.

However, the PGCB did reveal data on individual igaming operators. As was the case in 2022, Hollywood Casino at Penn National led t..

January 18, 2024

Gamma Intermediate completes sale of 6.4% stake in Lottomatica

Gamma Intermediate has completed the sale of 16 million Lottomatica shares, representing a 6.4% stake in the Italian company.

Despite the sale, worth €152m (£130.5m/$165.5m), Gamma Intermediate retains a majority stake of 65.4% in Lottomatica.

Gamma Intermediate completed the deal at €9.50 per share, with the sale conducted through an accelerated bookbuilding process. The placement was made to institutional investors, with no public offering in any country.

Lottomatica expects the final settlement to be on or around 22 January. Gamma Intermediate has agreed to a 90-day lock-up for its remaining shares in Lottomatica.

Lottomatica plotting growth trajectory with SKS365 purchase

In November, Lottomatica agreed a deal to acquire 100% of the share capital in the Italian-facing operator SKS365. Lottomatica stated the purchase will strengthen its position in the Italian market, while also expanding its brand portfolio.

In november, lottomatica acquired 100% of the italian-facing operato..

January 17, 2024

All-time high in New Jersey as 2023 revenue hits $5.78bn

Gambling revenue in New Jersey reached an all-time high of $5.78bn (£4.59bn/€5.32bn) in 2023, driven by record performances across igaming and sports betting.

Total revenue in 2023 was up 10.9% from $5.21bn in the previous year. The New Jersey Division of Gaming Enforcement (NJDGE) noted growth across all three core markets.

Land-based casinos remain the primary source of gambling revenue in New Jersey. These accounted for $2.85bn of all revenue, a year-on-year rise of 2.2%.

Retail slots revenue was 3.3% higher at $2.11bn but table games revenue slipped 0.7% to $736.2m. Incidentally, table games was the only subsection of the market to report lower revenue in 2023.

New Jersey igaming revenue nears $2.00bn

As for igaming, revenue here reached $1.92bn – a new record and 15.7% higher than in 2022.

Online slots revenue jumped 15.9% to $1.89bn, while peer-to-peer poker increased 5.6% to $28.9m.

Golden Nugget took top spot in the igaming market with $524.8m in revenue for the year. R..

January 16, 2024

Delaware: Sports betting revenue up in December as igaming remains steady

The Delaware Lottery reported a year-on-year increase in sports betting revenue during December after a rise in handle, while igaming revenue remained steady despite lower spending.

Beginning with sports betting, revenue for the sector in December 2023 amounted to $2.1m (£1.7m/€1.9m). This was 50.0% higher than in the state in the previous year and also 264.1% ahead of $576,800 in November 2023.

Delaware players in December spent $5.8m betting on sports during the month. Again, this was higher than December 2022, surpassing the previous year’s total by 7.3%. It also beat the $8.1m wagered in November by 8.6%.

delaware’s first online sportsbook was launched in december 2023

Delaware Park led the way in the sports wagering market with $302,801 in revenue from a $2.1m handle. Bally’s Dover was second with $161,432 off $1.1m, then Harrington Raceway on $65,701 from $448,031.

December also saw the launch of Delaware’s first online sportsbook. Powered by Rush Street Interactive (RSI) an..

January 9, 2024

GiG powers Betway launch in Portugal

Gaming Innovation Group (GiG) has partnered with Betway to support the online sports betting operator’s launch in Portugal.

Under the arrangement, GiG is providing its igaming platform and sportsbook to Betway in the country.

Plans for the Portugal-facing deal were first announced back in April 2022. Betway secured licences for sports betting and igaming in the country in February 2020.

plans for the launch were first announced in april 2022

Betway becomes the second B2B partner to launch with GiG in Portugal. GoldenPark also went live in the country last year, utilising GiG’s player account manager and sportsbook.

“As part of our ambitious growth strategy for Portugal in 2024, this GiG platform will help play a role in expediting our objectives to elevate the sports betting experience for existing Betway customers in Portugal and appealing to new ones,” Betway CEO Anthony Werkman said.

“This agreement will also allow our teams to work in synergy to reach our shared goals and as..

January 5, 2024

Portugal sets €215.3m online gambling revenue record in Q3

Online gambling revenue in Portugal hit a new quarterly high of €215.3m (£185.6m/$235.4m) in Q3, helped by record figures from the igaming segment.

Total market revenue in the three months to 30 September 2023 surpassed the existing record of €122.0m, which was set in Q2, by 4.6%. The Q3 figure was also 36.1% higher than €158.2m in Portugal in the same period in 2022.

PORTUGAL’S PREVIOUS RECORD WAS €122.0m SET IN Q2 2023

Some €133.4m of revenue in Q3 came from online games of chance, up 50.5% year-on-year. This was a new segment record and also represented 62.0% of all online gambling revenue in the quarter.

Consumers spent €3.65bn on this form of gambling in Q3, up 47.2% and another new record for Portugal. Slots accounted for 82.3% of this total spend, with French roulette at 6.4% and blackjack 6.2%.

Portugal online sports betting revenue continues to decline

The overall increase in online revenue in Portugal comes despite an ongoing decline within the sports betting market.

January 3, 2024

Delaware Lottery launches first online sportsbook

The Delaware Lottery has announced the launch of its first online sportsbook and relaunch of its three online casinos.

Powered by Rush Street Interactive (RSI) and BetRivers, the sportsbook soft launched on 27 December. After a successful first week of operation, the new sportsbook is now fully live in Delaware.

Players can access a range of wagering options across professional and collegiate leagues, games and players. Betting options include spreads, moneylines, player props, futures and same game parlays.

Accompanying the new sportsbook are three updated versions of the state’s existing online casinos. These will continue to be operated by Delaware Park, Bally’s Dover Casino and Harrington Raceway & Casino.

RSI sees off competition to land Delaware igaming contract

RSI secured the contract to power the Delaware Lottery’s igaming offering in August of last year. This followed an RFP process that reportedly also involved 888. RSI was the only remaining bidder after other interest..

January 3, 2024

Delaware: Igaming revenue rises in November – sports betting declines

The Delaware Lottery has reported a year-on-year rise in igaming revenue for November but also posted a decline in revenue from sports betting during the month.

Total igaming revenue in Delaware in November was $1.1m (£882,214/€1.0m). This was up 13.0% from $987,423 in November 2022 and 13.5% ahead of $982,919 in October 2023.

Of this total, $900,418 came from online video lottery games, $188,050 via internet table games and $27,170 from poker rake and fees.

DELAWARE IGAMING REVENUE WAS UP 13.5% COMPARED TO OCTOBER 2023

In terms of spending, players in Delaware spent $32.1m on igaming in November. This was 24.8% lower than $42.7m in 2022 5.3% ahead of $30.5m in October.

Video lottery games drew $23.4m in total wagers and table games $8.7m.

Delaware Park claimed top spot in the igaming market with $452,554 in revenue off $11.9m in wagers. Bally’s Dover placed second with $384,111 from $9.3m, then Harrington Raceway, posting $278,973 from £11.0m.

Declines in the Delaware sports ..

December 20, 2023

Pennsylvania blames ESPN Bet for November betting revenue drop

Pennsylvania has reported a 1.7% drop in revenue despite sports betting handle reaching $900m for the first time.

The total revenue in Pennsylvania in November was $444.5m (£351.2m/€405.6m), down on the $452.4m reported the same month last year.

This was in spite of sports betting handle reaching $934.1m, smashing the previous record of $829m recorded in October of this year. Notably, November’s sports betting handle was 18.4% higher than the $789.2m accumulated in the same month last year.

ESPN Bet blamed for Pennsylvania’s sports betting revenue decrease

Despite the sizeable increase in handle, sports betting revenue fell to $12.9m in November from $52.9m in October, a 73% drop month-on-month.

The Pennsylvania Gaming Control Board pointed to a low hold percentage, as well as the November launch of ESPN Bet, as reasons for the “steep drop in revenue”.

Operating under the Hollywood Casino at Penn National, ESPN Bet recorded a $7.8m loss, largely because of its “significant amount..

December 20, 2023

Michigan operators boosted by record monthly igaming receipts

Michigan’s commercial and tribal igaming operators generated record gross receipts of $175.3m (£138.5m/€160.2m) in November, according to the state’s regulator.

Michigan’s total gaming revenue beat the previous record of $171.8m in March and $160.3m in October, the Michigan Gaming Control Board stated. Total igaming handle was not reported.

November’s total online sports betting handle of $568.8m also set a new monthly record – up 6.7% from $533m in October. However, online sports betting receipts fell from $45m to $33.9m versus the previous month.

Accordingly, igaming and sports betting gross receipts totalled $209.2m in November. This represented a 1.9% increase on October’s total.

Sports betting falls in Michigan

Combined igaming and internet sports betting adjusted gross receipts (AGR) for Michigan in November totalled $158.1m. This included $157.8m from igaming and just $294,810 from online sports betting.

The November totals represented a month-on-month 9.4% increase and 9..

December 19, 2023

BetMGM and NHL announce multi-year extension to partnership

BetMGM will continue to be an official sports betting partner of the National Hockey League (NHL) after penning a multi-year extension.

The renewal, announced on Tuesday, will see BetMGM continue to use NHL imagery on its casino games and have “significant branding” visible on nationally televised broadcasts.

BetMGM signed the initial deal in 2018. In April 2022, BetMGM joined FanDuel in expanding its partnership with the NHL. This move was announced in the wake of Ontario launching its sports betting market, allowing BetMGM to expand into Canada for the first time.

BetMGM chief executive Adam Greenblatt is excited for the continuation of the partnership, saying: “Our partnership extension with the NHL enables us to enhance the BetMGM product and offer fans unforgettable entertainment built around the game they love.

“The NHL is more thrilling than ever – a symphony of athleticism, teamwork and skill on skates. We look forward to bringing our customers exceptional live experiences ..

September 2024
Mon	Tue	Wed	Thu	Fri	Sat	Sun
						1
2	3	4	5	6	7	8
9	10	11	12	13	14	15
16	17	18	19	20	21	22
23	24	25	26	27	28	29
30

Tag: Online casino