Casino – Page 2 – FairOdds Network

July 15, 2024

Weekend Report: DraftKings to divest VSiN, Bermuda’s banks slow casino launch and more

Welcome to the Weekend Report, where iGB covers the news you may have missed over Friday, Saturday and Sunday. This week we’ve got news of DraftKings cashing out of its big media bet, Bermuda’s casinos struggling for acceptance in the banking sector and more.

DraftKings turns off VSiN?

DraftKings could be preparing to sell off its sports betting media specialist Vegas Sports Information Network (VSiN), according to Eilers & Krejcik Gaming.

Original owner Brent Musburger is allegedly set to take back control of the TV and radio network, which was acquired by DraftKings for $70m back in 2021. Active since 2017, VSiN broadcasts 18 hours of content a day, across multiple markets and streaming platforms, at one time showing Betting Across America, a BetMGM-backed sports betting programme.

While the sale is not confirmed it would take a significant media asset out of DraftKings’ stable, although it still maintains a distribution deal with Meadowlark Media, as well as its own streaming..

July 12, 2024

Waterhouse VC: Turning back the clock

In his latest column, Tom Waterhouse of Waterhouse VC reviews how the fund has performed over the last year.

We started the fund on 19 August 2019 and I am very pleased that our five-year anniversary is fast approaching, with outstanding results for investors over the past year. The fund returned 53.3% for the 2024 financial year, a result our team is proud of.

While global equities have been favourable over the past 12 months, our performance has not relied on these tailwinds, outperforming the S&P 500 by +31%. Returns have been achieved across each pillar of our strategy (Option Deals, Professional Betting, Global Equities).

We’re pleased with the fund’s performance since launching, particularly given the challenges of finding attractive deals during a period of exuberance for growth assets in 2021. Last year’s results bring the return since inception to 102% per annum before all fees. An investment of $100,000 at inception in August 2019, assuming reinvestment of all distribution..

July 10, 2024

US round-up: Iowa FY24 handle tops $2.6bn, mixed June for Maine

Rounding up the latest US state reports, iGB analyses growth in Iowa sports betting during the state’s 2024 financial year and a mixed June for Maine.

Iowa’s sports betting market closed out its 2024 fiscal year with growth in June, while Maine sports betting operators DraftKings and Caesars reported a decline in handle for the month.

Iowa market up 14% in 2024 fiscal year

Iowa reported year-on-year growth across revenue and handle for the full year to 30 June. Maine, meanwhile, saw sports betting revenue rise month-on-month despite lower spending among consumers.

Starting in Iowa, betting handle for the year hit $2.62bn (£2.05bn/€2.43bn). This is 16.4% higher than the $2.25bn spent in the previous year. Online wagers amounted to $2.41bn while retail spend totalled $207.1m.

In revenue terms, this amounted to $212.3m, an increase of 14.0% from 2023. Of this, $193.5m came from betting over the internet and $18.7m retail sportsbooks.

Looking at individual operators’ performance for..

July 9, 2024

Survey reveals Betano as most recognisable brand in Brazil

Kaizen Gaming-owned Betano is the most recognisable and trusted betting brand in Brazil, a survey by Env Media has revealed.

Env Media centred its survey on the 20 most popular brands in Brazil, including the likes of Betano, Bet365 and Betfair. The study aimed to establish what operators held the greatest share of voice in Brazil by looking at their visibility and market shares.

This is ahead of the regulated market going live following the December approval of Bill 3,626/2023, legalising sports betting and igaming.

The survey asked 500 active adult bettors which operators they were both aware of and trusted. Betano led the way with 73.4% of respondents stating they recognised and trusted the operator. Bet365, meanwhile, was second, selected by 67.2% of those surveyed.

Brazilian operator Pixbet was third, recognised and trusted by 54.7% of respondents, while Sportingbet and Betnacional were selected by 42.6% and 41.6% respectively.

Betano also held the advantage in Env Media’s s..

July 5, 2024

State of the Union: CNBC Sports, new Illinois tax now in place, more

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.

CNBC getting into sports

Per Steve Ruddock’s “Straight to the Point” substack, CNBC is adding a sports channel. What does that mean for sports betting? “That coverage includes sports betting, an area CNBC’s Contessa Brewer has been in the thick of for several years,” Ruddock wrote on Wednesday (3 July). Overall, the channel will focus on the intersection of sports and business.

Brewer has been among a handful of national news voices to cover the sports betting industry since PASPA was overturned in May 2018. She “will continue to focus on the money, data statistics and strategy behind the sports gaming industry” according to the press release.

Betting on colleges coming to NJ?

The one thing missing from the market often considered the gold standard of US wagering is the ability to bet on college sports in ..

June 28, 2024

State of the Union: Big fine in Philly, Caesars NYC plans and more

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.

Live! Philadelphia fined $100,000

The Pennsylvania Gaming Control Board this week issued a $100,00 fine to Live! Philadelphia for taking sports bets over the phone. At the PGCB meeting, it was revealed that more than $287,000 in wagers were taken by phone. Of the bets, three were taken via text message and lost and the bettor never laid down the funds.

Live! Philadelphia representatives told the PGCB that it had terminated the employees who took a total of 15 bets via phone or text message. In addition, all have also been placed on the involuntary exclusion list. Live! Philadelphia also now bans personal phones for sportsbook employees while at work and lowered its surveillance notification threshold to $10,000.

Caesars proposes Times Square makeover

Caesars Entertainment has plans to plant trees, improve..

June 28, 2024

US May round-up: Strong month for NV; CO handle up 16.2%; Icasino shines in CT

Analysing some of the latest US monthly state reports, iGB takes a closer look at how Nevada, Colorado, Connecticut and South Dakota performed during May.

Sports betting revenue for May in Nevada topped $36m, up 19.8% on last year. Online betting (up 23%) accounted for 63.4% of all sports wagering revenue. Overall handle dipped 2.3% on the previous year.

Of this, $17.2m in revenue came from basketball wagering with the NBA Conference semi-finals and finals playing out during the month. A further $11.2m in revenue came from baseball, as the MLB season takes place, and $3.4m from ice hockey. A further $7.8m was generated across other sports.

Nevada saw overall revenue climb 2.3% to $1.32bn (£1.04bn/€1.23bn).

Gaming revenue in Nevada edged ahead of $1.29bn last year, with May halting two consecutive months of year-on-year decline.

With regards to land-based gaming, slots drew the most revenue at $886.1m, up by 1.0% year-on-year. Multi-denomination slots accounted for $599.1m of rev..

June 24, 2024

Weekend Report: MGM hacker arrested, Colorado tribes still shut out

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

Suspected MGM hacker arrested in Spain

In 2022, MGM confirmed that its loyalty programme had been hacked. On 14 June, the Spanish national police arrested a man they believe to be involved in the hack at Palma Airport. He was boarding a flight to Italy, reported Murcia Today.

The FBI’s Los Angeles field office issued the arrest warrant for the 22-year-old UK national, per CyberNews.

The group responsible for the cyberattack, Scattered Spider, allegedly hacked multiple major corporations. The man arrested is accused of hacking corporate accounts and allegedly controlled $27m worth of BitCoin. Caesars Entertainment was also hacked last autumn.

Colorado tribes still shut out of digital wagering

Nearly five years after Coloradans legalised digital sports betting and four-plus years after launch, the state’s tribes still aren’t live. Per the Colorado Sun, the state has ..

June 21, 2024

State of the Union: MGCB busts illegal slot parlor, Caesars completes Wynn MI deal

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.

MGCB busts illegal gambling site

Michigan Gaming Control Board agents along with the state police raided an illegal gambling site on 5 June, the agency announced on Thursday (20 June). The agents confiscated six slot-style gaming machines, $2,820 in gift cards and $5,161 in cash from the Red Horse Bar in Saginaw. Following a tip, the MGCB issued a cease-and-desist letter to bar owners Christopher and Nicholas Adams. They did not comply, resulting in the raid.

“The Michigan Gaming Control Board remains steadfast in its commitment to ensuring compliance with all state gambling regulations,” MGCB executive director Henry Williams said via press release. “We will continue to work diligently to identify and eliminate any illegal gambling activities that pose a threat to the integrity of the industry and the welf..

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 ..

April 12, 2024

Charting Nigeria’s online gambling growth amid regulatory battles

One of the most exciting emerging global online gambling markets is Nigeria, boasting a youthful population that H2 Gambling Capital forecasts to lead it to gross gaming revenue (GGR) of €675.1m (£576.8m/$717.2m) by 2025. With a legal battle over regulation ongoing, though, how exactly is it achieving its success?

Firstly, it’s imperative to note the demographics of Nigeria, which is the most populous country in Africa with well over 200 million inhabitants. According to a report from The Economist, that population is predicted to grow to 400 million by 2050, surpassing the US as the third most-populous country on the planet.

Looking closer at Nigeria’s data reveals a hugely youthful population, with figures from the World Factbook outlining that approximately 41% of people in the country are aged between 14 and under, with the average age of a person in Nigeria just 19 years old.

Taking those demographics aspects into account it’s clear to see why there is excitement over how Niger..

April 12, 2024

Denmark helpline StopSpillet receives nearly 3,000 calls in first five years

StopSpillet, the specialist gambling helpline run by Denmark regulator Spillemyndigheden, has received almost 3,000 calls since its inception in 2019.

StopSpillet was introduced on 1 January 2019, providing advice and guidance to those in Denmark who are concerned over their gambling habits.

A new report revealed that since its launch, StopSpillet has received 2,933 inquiries, with figures suggesting that a large percentage of those callers have a problematic relationship with gambling. Players calling for themselves were responsible for just over 1,650 inquiries, accounting for 56% of the total.

Additionally, 1,150 inquiries, or 40% of the total inquiries, came from relatives of players. In around half of those calls, it was a parent getting in contact with StopSpillet. Meanwhile, 4% of calls came from professionals.

On the ongoing development of StopSpillet, the report read: “The Gambling Authority works continuously to spread awareness of StopSpillet, for example through campaig..

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Tag: Casino