Casino & games – Page 3 – FairOdds Network

March 20, 2024

Pennsylvania igaming revenue reaches record $184.9m in February

Online gambling revenue in Pennsylvania hit a record $184.9m (£145.3m/€170.1m) during February, although the state reported year-on-year declines across almost all other markets.

Total gambling revenue in February amounted to $499.1m. This was 9.3% ahead of $456.8m in Pennsylvania last year but 1.6% behind $464.4m in January this year.

Retail slots remain the largest source of revenue in the Keystone State, generating $202.7m, only marginally lower year-on-year. This was despite a decline in the total number of slot machines from 25,708 to 24,962.

Elsewhere in the retail sector, revenue from land-based table games increased by 2.9% to $76.6m.

Online slots and table games growth in February

Turning to the Pennsylvania online market and total igaming revenue was 40.5% higher at $184.9m, compared to $131.6m in 2023.

Online slots revenue jumped 35.6% to $125.9m, while internet table games revenue hiked 56.7% to $56.6m. There was, however, a slight decline in online poker revenue, wi..

March 15, 2024

ATG calls on banks to help combat “worrying” Sweden channelisation rates

Aktiebolaget Trav och Galopp’s (ATG) channelisation report for Q4 has shown a continuation of worsening channelisation rates in Sweden.

ATG’s report estimated channelisation rates for gaming to be between 69%-82% in Sweden during Q4. This falls well behind the Swedish’s government’s target of 90% channelisation to legal operators.

The channelisation rate has fallen since the third quarter of 2023. ATG believes there is little sign of the trend being halted.

ATG found visitor traffic to unlicensed operators has increased tenfold since 2019. The research also highlights that out of 20 unlicensed sites with the highest Q4 visitor traffic, 19 shared the same platform providers as licensed operators.

Additionally, of the 20 black-market sites included in the report, none were on the Swedish regulator Spelinspektionen’s banned list.

“It is a very worrying development and our investigation shows that more still needs to be done to keep the unlicensed companies away,” ATG chief executive ..

March 14, 2024

Genius Sports announces move into free-to-play games vertical

Genius Sports has announced the launch of interactive free-to-play games for its operators, which include the likes of Betway and Bet365.

Genius’ free-to-play offering will include weekly and matchday games, tournament games and daily retention games. These are intended to meet purposes such as activating a sportsbook brand and delivering segmented daily player interaction.

Genius will also offer bespoke free-to-play solutions to meet operators’ objectives, including gamification strategy design, as well as custom game development.

Additionally, Genius is integrating its advertising solutions, helping operators to drive players from free-to-play games into their sportsbook. Genius will use advanced analytics and reporting in its advertising sector to assist operators in measuring paid media impact.

Genius aims to enable operators to boost customer acquisition and loyalty.

The provider’s launch aims to enable operators to boost customer acquisition and loyalty. Josh Linforth, Geniu..

March 12, 2024

Maryland second state with lower February sports betting handle

Player spending on sports wagering in Maryland reached $442.6m (£345.7m/€404.7m), an increase on the previous year but lower than January’s total.

Handle was up 30.4% from $339.4m in February 2023. However, it was 18.8% behind the $545.0m bet in Maryland during January this year.

The drop in handle follows the same trend as New York, with the Empire State announcing a reduction in February handle despite the Super Bowl. However, this could also be attributed to the shorter month of February and the NBA All-Star break that ran between 16-21 February.

Of the total in Maryland, $428.4m was wagered online, including $13.4m in free bets, and $14.1m at retail sportsbooks.

Sports betting handle was 18.8% behind the $545.0m bet in January

Taxable win – the amount remaining after deducting prizes, promotional wagers and other amounts – reached $28.1m. This was 51.2% ahead of $18.6m last year but 48.9% short of January’s $55.0m.

Mobile taxable win amounted to $27.1m, while retail wagering..

March 11, 2024

Entain, Betfred and Flutter join GC Industry Forum led by Nick Rust OBE

Directors of Flutter, Betfred, Entain and The Rank Group have been named among the nine appointed members of the Gambling Commission’s (GC) new Industry Forum, which will be chaired by Nick Rust, OBE.

Rust, who previously spent six years as British Horseracing Authority chief executive, was appointed as Industry Forum chair in November 2023.

Over a two-year term, Rust will oversee a forum that includes Ashley Padgett, director of compliance and anti-money laundering at Flutter’s UK and Ireland (UK&I) division, as well as Entain’s customer operations director for UK&I Leo Walker.

As well as Entain and Flutter, other UK gambling industry leaders will be represented. Betfred’s head of media Mark Pearson has been appointed to the forum, as well as David Williams, director of public affairs at Rank Group.

Merkur UK’s director of public and political relations, Tony Boulton, and Betsmart Consulting founder and director, Kirsty Caldwell, will also be joined on the forum by Charles Cohen,..

March 7, 2024

Montenegro’s electronic payments ban raises industry concerns

Amendments to Montenegro’s gambling laws that would ban the use of electronic payment methods are leading to concerns among the country’s gambling sector, with Montenegro Bet representative Jovana Klisić saying the industry is “at a crossroads”.

The amendment to Article 68f of Montenegro’s gambling law will see a variety of electronic payment methods, such as ebanking and mobile payments, disabled when it comes to depositing into betting accounts.

The changes now mean bettors in Montenegro have two options should they wish to bet online. Players can enter a betting shop and place a monetary cash wager which then transfers online funds into their accounts. Alternatively, players can pay via card, but only on a terminal in a betting shop.

The provisions have caused agitation in the Montenegrin industry, with gambling companies concerned over the amendment’s impact on business. A petition calling to halt the change received 25,000 signatures, around 8% of the country’s electorate, in j..

March 6, 2024

Super Group’s FY2023 sees €199.7m drop in profit despite record revenue

Super Group recorded a profit before tax of €16.8m (£14.4m/$18.3m) for its 2023 financial year, a significant drop from the €216.5m generated the year prior.

Super Group attributed the drop in profit before tax to non-cash charges of €64.6m. €28.6m of that total came from the January 2023 acquisition of online sports betting and igaming business Digital Gaming Corporation (DGC), which allowed Super Group to enter the US at the start of the year.

The company also highlighted that €42.1m of the drop in profit was down to changes in fair value of option liability and an impairment of goodwill. Super Group also pointed to the 2022 figure’s inclusion of €246.8m in non-cash gains relating to the fair value of warrant and earnout liabilities and related foreign exchange movements.

Operational EBITDA was down from €208.5m in 2022 to €197.3m in 2023. Meanwhile, unrestricted cash was also €12.9m lower at €241.9m, which Super Group again assigned to the DGC acquisition.

Boosted by record rev..

March 5, 2024

EGBA lauds EU’s proposed introduction of digital identification

The European Gaming and Betting Association (EGBA) has welcomed the European parliament’s approval of introducing a standardised electronic identification method called a “European Digital Identity” (e-ID).

The EGBA-endorsed move would oblige states in the European Union (EU) to issue an e-ID to citizens. This would allow them to authenticate their identity for online services. These e-IDs will be optional for citizens and businesses.

EGBA labelled the European parliament’s approval on Monday a “significant milestone” in providing a safer and more inclusive online environment for citizens in the EU. There were 335 votes in favour, 190 opposing the new regulations and 31 abstentions.

The proposed e-IDs will mean citizens would no longer have to resort to commercial providers to verify their online identification, something that has caused privacy and security concerns in the past.

The hope is that e-IDs will reduce the risk of fraud and identity theft, enhancing security for the EU’..

March 5, 2024

GC’s Gambling Survey for Great Britain: Lottery reigns supreme

The first data from the Gambling Commission’s (GC) Gambling Survey for Great Britain (GSGB) has highlighted the prevalence of lottery among gamblers in Great Britain.

48% of respondents had gambled in the past four weeks, although that figure dropped to 27% when excluding lottery-only players. Over a fifth of all respondents had only taken part in lottery draws.

The 48% figure of respondents having gambled in the past four weeks is a slight reduction on the 49.5% number stated in the final experimental stage of the survey, released back in November.

Participation drop-off without lottery the same for land-based and online

The pattern was the same for online and land-based gambling. 38% of all participants had used the internet to gamble in the previous four weeks, the same as in the November data, although the removal of those who only play lottery saw that number fall to 16%. In-person gambling participation also fell from 29% to 18% when lottery-only players were excluded.

The ..

March 4, 2024

Caesars first to launch sports betting in North Carolina with tribal partnership

Caesars Entertainment has become the first operator to launch legal online sports betting in North Carolina, rolling out its sportsbook in partnership with the Eastern Band of Cherokee Indians.

North Carolina is not due to launch full-scale legal sports betting until 11 March. However, Caesars’ deal with the tribe and the Indian Gaming Regulatory Act has made it possible for the operator to go live ahead of this date.

Players can place bets at two Cherokee-run casinos: Harrah’s Cherokee Casino Resort and Harrah’s Cherokee Valley River Casino & Hotel. Betting is also permitted on the Eastern Band of Cherokee Indians’ tribal lands.

caesars’ tribal deal will see the operator first to go live

Caesars’ online sports betting offering will be extended across all North Carolina when the market fully launches next week. The operator has been running retail sportsbooks in the state for a number of years, with the online offering to complement these.

“We’re thankful to be able to offer wage..

February 28, 2024

Betsson CEO Lindwall celebrates “record year for the group” and outlines 2024 plans

A record 2023 saw Betsson post higher revenues and EBITDA than ever before. With further global expansion on the cards, Betsson chief executive Pontus Lindwall believes it’s the company’s localised approach that will help them achieve further growth.

Revenues shot up by 22% to a record €948.2m (£811.3m/$1bn) for Betsson’s 2023 financial year. EBITDA also skyrocketed 52% to €262.7m from €172.4m in 2022. The year-end results were aided by a surge in Q4, one that saw group revenue hike by 14%.

Quite the set of results then for Betsson. According to Lindwall, the positive outlook for the company looks set to continue, both short- and long-term. The CEO is delighted with the group’s performance, comparing the operator to a well-oiled machine.

“Of course, we’re very happy with the outcome of 2023,” Lindwall told iGB. “It’s a record year by far for the group. It’s nice to finish off so strongly with the record quarter as well.

“I think we have a strategy that has played us well as we are ..

February 21, 2024

Pennsylvania gambling revenue edges up year-on-year in January

Overall gambling revenue in the state of Pennsylvania increased by 2.7% year-on-year to $477.2m (£378.1m/€441.9m) in January.

Revenue was up from $464.4m in January 2023 but 10.7% behind the $534.2m generated in Pennsylvania in December. This revenue comprises land-based slot and table games, online gambling sports betting, video lottery terminals (VLTs) and fantasy sports.

Physical slots remain the primary source of gambling revenue in Pennsylvania at $179.5m, down 11.2% year-on-year. Land-based table games revenue also slipped 13.4% to $72.7m.

Revenue was 10.7% lower than December 2023

Slots drive online gambling growth in Pennsylvania

In contrast, the Pennsylvania online gambling sector reported more growth. During January, revenue from igaming amounted to $149.6m, up 12.4% from last year.

Online slots revenue reached $110.0m, a rise of 22.0%. However, online table game revenue fell 7.8% to €36.9m, while internet poker revenue was almost level at $2.7m.

Hollywood Casino at P..

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Tag: Casino & games