Casino – FairOdds Network

August 12, 2024

Belgium reports 16.7% rise in 2023 GGR despite tighter regulatory controls

A new report from the Commission des Jeux de Hasard (CJH), the regulator of gambling in Belgium, has revealed the country’s industry saw its gross gaming revenue (GGR) grow by 16.7% over 2023.
Belgium gambling gross revenue total for 2023 was €1.7bn (£1.5bn/$1.9bn), a significant rise from the €1.5bn generated in 2022. Online grew by 18% to a GGR of €944.6m, while offline GGR also increased substantially, with €758m reflecting a 15.2% year-on-year rise.

Growth came despite the Belgian government ratcheting up restrictions on the sector. From 2022 operators had to enforce a €200 weekly loss limit, down from 2020’s €500 limit.

Midway through 2023 they were then forced to halt all advertising. After a last-ditch attempt from a consortium of Belgian sports teams and operators failed to halt the move, a ban on advertising came into force from 1 July 2023.

Restrictions? What restrictions? Belgian gambling market grows in 2023
Casino GGR increased 18.7% year-on-year to €594.9m, powered by..

August 9, 2024

State of the Union: Nebraska slow down, Penn eyes Alberta, FanDuel sued

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.
Legal digital wagering stalled in Nebraska
Nebraska lawmakers don’t seem ready to introduce digital sports betting, although the state’s traditionally anti-gambling governor is now supportive. Gambling proceeds are earmarked for property tax relief, which is a priority for lawmakers.

Legal digital sports betting is stalled in Nebraska. The state legislature has been in special session since 25 July. The General Affairs Committee held a hearing on the subject last week. But since then, lawmakers appear divided.

One source said that Governor Jim Pillen, traditionally anti-gaming, now supports an expansion. Pillen previously said that he plans to introduce legislation in January. He appears open to any gambling expansion to increase state tax revenue. Friday is day 10 of the special session, which does not have ..

August 7, 2024

New casino launches help Full House grow revenue in Q2 but costs hit bottom line

Net losses increased for Full House Resorts in Q2 due to costs associated with opening new casinos hit its bottom line.
Revenue for the three months to 30 June at Full House hit $73.5m (£57.8m/€67.3m). This is 23.7% more than Q2 last year at Full House, with casino driving the increase.

August 5, 2024

Bowyer allegedly had 700+ illegal betting customers, washed money through Las Vegas and California casinos

Court documents reveal that alleged illegal bookmaker Mathew Bowyer had more than 700 customers, washed money through multiple casinos and used Costa-Rican betting websites in his business.
On 1 August, Bowyer was charged on three counts. He is accused of running an illegal bookmaking scheme, laundering money and filing a false tax return. Bowyer, according to court documents, will plead guilty Friday before Judge John W Holcomb at the Ronald Reagan Federal Building and United States Courthouse in Santa Ana, California.

Bowyer’s business was based out of Orange and Los Angeles counties in California and Clark County in Las Vegas. Sports betting is illegal in California.

Bowyer faces a maximum sentence of 18 years in prison and three years of probation. He could be fined $750,000 or two times the “gross gain or gross loss resulting from the offences” – whichever is higher.

Mizuhara, two pro ballplayers linked to Bowyer
According to the court documents, it is unclear when Bowyer sta..

August 2, 2024

State of the Union: Olympics betting, Texas legalisation talk, Ontario’s latest idea

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.
Here’s where Olympic betting is highest in US
According to a Forbes report, bettors in Maine, Massachusetts, New York, North Carolina and Pennsylvania have a high interest in betting on the Olympics. Why? Per the story, a heavy interest in basketball – particularly the Celtics in Maine and Massachusetts and college basketball in North Carolina – is one driver.

Another is the number of athletes representing a state in Paris. Of the 592 athletes representing the US at the Olympics, which runs through 11 August, 143 are from California. The state with the next highest is Florida with 50, followed by Texas with 43. Of the three states, only Florida has legal sports betting. There are 31 athletes from New York competing and 20 from Pennsylvania.

Bettors in Massachusetts can bet on the Olympics, but not on judged..

August 2, 2024

Waterhouse VC: The rise and rise of Bet365

How has Bet365 maintained a consistent top position in online gambling? Tom Waterhouse reviews its tactics for success.
Becoming the dominant force early in an industry can lead to significant competitive advantages, brand recognition, and customer loyalty. Amazon in ecommerce and Coca-Cola in soft drinks, are examples where early and effective market entry cemented dominant lasting positions. Dominance is maintained through established distribution, economies of scale and a sticky customer base.

In gambling, aside from countries where a pari-mutuel (tote) operator has a monopoly on betting, there is a variety of choice. For example, in Australia, there are around 100 wagering operators and in the UK there are 175 online operators. Before the internet, bookmakers would typically earn and retain market share through physical high street betting shops, which gave the industry a natural barrier to entry.

In the UK, Ladbrokes and William Hill emerged as the initial market leaders among a..

August 1, 2024

Bally’s execs tout online growth, Chicago casino progress during second-quarter earnings call

Executives from Bally's Corp. were triumphant on Wednesday (31 July) in their presentation of the company's future prospects in Chicago, Las Vegas and online. The company reported $622m in overall revenue, a year-on-year increase of 3%.
Bally’s second-quarter earnings call on Wednesday featured optimistic presentations from CEO Robeson Reeves, president George Papanier and CFO Marcus Glover. Of its three verticals, two reported year-over-year growth in Q2. Its casino operations and North American digital segments posted gains of 3% and 95%, respectively. Its international interactive division declined 7%.

The big spike in digital was due mainly to the company’s March launch of igaming in Rhode Island. Internationally, Reeves said that its UK performance was strong but lagged elsewhere, mainly Asia, leading to the overall segment decline.

The trio did not comment on or field questions about Bally’s biggest development, last week’s takeover from Standard General. There was..

July 30, 2024

Caesars’ Big Brazil and Sportingbet apply for Brazil licences

Sportingbet and Caesars Sportsbook’s Big Brazil have submitted their licence applications in Brazil, becoming the fourth and fifth operators to do so.
Sportingbet applied for a Brazil sports betting and igaming licence on Thursday (25 July). The following day, Caesars Sportsbook’s licensee Big Brazil joined Sportingbet, Betano, Superbet and Rei do Pitaco in submitting its application.

In applying during the initial 90-day window of preference, Sportingbet and Big Brazil have ensured their applications will be prioritised by the ministry of finance’s Secretariat of Prizes and Bets (SPA).

The SPA guarantees that operators who submit their applications by the 20 August deadline will have their applications processed by 1 January 2025, the anticipated launch date of the legal market.

Licences will last for five years and will cost BRL30m (£4.6m/€5.4m/$5.9m) in fees. Those who receive a licence will be able to offer gambling via three skins. Meanwhile, operators who fail to secure a lice..

July 26, 2024

State of the Union: Texas exploratory group, a look at online gambling support in Addabbo’s district

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.
Texas group to “explore” legal gambling
A group of North Texas business and community leaders formed a coalition to explore legalising casinos in the state. Former Dallas Mavericks majority shareholder Mark Cuban sold a portion of his shares to two families associated with Las Vegas Sands earlier this year. Should gambling be legalised, the entity plans to build a casino resort in Dallas.

The North Texas Commission “will study the implications of destination gaming and make recommendations regarding issues like economic development, workforce demands, infrastructure requirements, transportation and public safety impacts,” the Dallas Business Journal reported on Wednesday (24 July).

The commission was formed ahead of the 2025 legislative session, when lawmakers are expected to again consider the issue. Las Veg..

July 19, 2024

Bettor perspective? Walters, “Spanky” say US sportsbooks have much to learn

As legal sports betting in the US proceeds in its seventh year, many have expressed concerns about whether the current wagering model is sustainable for the long term.

A panel discussion on Friday (19 July) at the summer meeting of the National Council of Legislators from Gaming States (NCLGS) in Pittsburgh featured views on the subject from legendary sports bettors Billy Walters and Gadoon “Spanky” Kyrollos. Both the legendary Walters, 78, and Kyrollos said sustainability depends on treating sports bettors fairly.

That, they said, means an equal playing field for all customers.

Richard Schuetz, a veteran casino executive, regulator and onetime Las Vegas sportsbook operator, moderated the panel. Schuetz hosted Walters when Schuetz ran the sportsbook at the Stardust.

Transparency, betting limits are concerns

One problem threatening the long-term sustainability of legal sports betting, panelists said, is a lack of knowledgeable operators. “The (legal) industry is new in this country..

July 17, 2024

New Jersey: Sports betting decline fails to halt gambling revenue growth in June

A second consecutive month of year-on-year decline in sports betting revenue failed to halt overall growth in the New Jersey gambling market, with total revenue rising 7.4% in June.

Combined land-based casino, igaming and sports betting revenue in New Jersey hit $491.0m (£378.6m/€450.3m) for June. This is clear of $457.2m in the same month last year but 3.7% behind the $510.0m posted in May this year.

Land-based casino again generated the most gambling revenue for New Jersey during June. In total, revenue in this segment edged up by 1.0% to $244.1m. This includes $184.0m in slot machine revenue, a rise of 0.6%, and $60.1m table games, up 2.5%.

Igaming edges closer to New Jersey land-based casinos

By far the biggest area of growth in New Jersey in June was the igaming market. Here, total revenue was 25.2% higher year-on-year at $186.8m. This was $57.3m behind the long-established casino land-based sector.

‘Other authorised games’ drew $184.4m of all igaming revenue, up 25.6%. Howe..

July 16, 2024

Massachusetts reports sports betting growth despite retail loss in June

Massachusetts saw its sports betting handle and taxable gaming revenue both increase year-on-year in June despite reporting a loss within its retail market.

Total player spending on sports betting in Massachusetts during June amounted to $509.4m (£303.1m/€467.8m). This is 57.5% up from $323.5m last year but 13.3% behind $587.3m in May this year. It is also the lowest monthly total since $314.9m was bet in August 2023.

Online betting spending hit $500.7m in June, with retail drawing just $8.6m in comparison.

Revenue-wise, operators across online and retail reported $40.5m. This is up 25.8% from last year’s $32.2m haul but 29.0% short of $57.0m in May and the lowest monthly amount since $22.7m last August.

Online sports betting generated $41.0m in revenue during June. However, a $588,965 loss from the retail sector pushed the overall revenue total down for the month.

As for hold, across the Massachusetts market, this stood at 8.30% in June. Online hold hit 8.44% with retail at 0.01..

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Tag: Casino