Gaming – Page 7 – FairOdds Network

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

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 13, 2023

Bill Hornbuckle on MGM Resorts’ global growth ambitions

MGM Resorts’ home town of Las Vegas evolved beyond all recognition during Bill Hornbuckle’s time in gaming, but it’s not the only show in town. He’s eyeing up expansion across a range of global markets and expanding into new channels.

Things are booming in MGM Resorts’ home town, but it’s much more than a Vegas-based business. Hornbuckle leads global development efforts and having taken MGM into Macau he’s still looking east.

MGM Resorts looks east

Japan’s ministry of land, infrastructure, transport and tourism certified plans for a $10bn integrated resort in Osaka in April. After finalising agreements with Osaka Prefecture and City, construction can begin on the property.

Marginally closer, opportunities are emerging in the United Arab Emirates. First Wynn sealed an agreement for a resort in Ras al-Khaimah. Then a federal regulator, the General Commercial Gambling Regulatory Authority (GCGRA) emerged paving the way for resorts in other Emirates.

MGM is focused on Dubai, Hornbu..

December 13, 2023

Brazil’s senate votes to approve sports betting – igaming removed

Brazil's senate plenary voted yesterday (12 December) to approve the amendments to Bill 3,626/2023, which will regulate sports betting. However, igaming was removed from the bill.

Originally scheduled for 6 December, the vote was delayed due to a lack of available senators to vote.

The bill was presented by Senator Angelo Coronel to the senate yesterday evening. It contained the latest round of amendments following initial approval of the bill three weeks ago by Brazil’s Economic Affairs’ Commission.

While the bill faced significant opposition, three key highlights were focused on in yesterday’s voting session.

The first, and most notable, is that the senate voted to remove igaming from the bill. The amendment was presented by Senator Carlos Portinho, with 37 votes in favour of excluding igaming and 27 against.

In addition to the exclusion of igaming, the senate also voted to exclude virtual games and sports betting terminals. An amendment that would prohibit sports betti..

December 7, 2023

Fitch “neutral” on global gaming outlook for 2024

Fitch Ratings forecasts global gaming outlook for 2024 as “neutral”, citing pullback in certain US markets and potential stagnation in Europe.

A new report from Fitch Ratings forecasts the global gaming outlook for 2024 as “neutral”.

It is the second straight year Fitch has selected a “neutral” view for its gaming outlook. Fitch cited “slight pullback” from the “pent-up demand” in the United States as one of the reasons for its classification.

In general, the US is still performing well after a “robust” 2022. However, Fitch’s 6 December report details how regional gaming is showing some indication of stagnation.

Elsewhere, Asia Pacific is flourishing under improved demand thanks to the mass market returning after the Covid-19 pandemic. Singapore, meanwhile, continues to “perform above expectations”.

Limited regulation in the Middle East and Africa (part of EMEA) is proving beneficial, alongside the rise in US online profitability. Over in Europe, The UK Gambling Act review is exp..

December 7, 2023

Greenblatt: 2024 the year BetMGM unlocks Las Vegas

Speaking at Morgan Stanley's Global Consumer and Retail Conference, BetMGM's CEO says 2024 will be the year they unlock America's gaming capital.

BetMGM will “unlock” Las Vegas in 2024, according to CEO Adam Greenblatt.

Speaking at the Morgan Stanley Global Consumer and Retail Conference on Wednesday (6 December), Greenblatt says BetMGM will look to capitalise on the influx of sports events in Las Vegas.

Sports and Las Vegas licence to be key

The recent Formula One race in the city attracted 300,000 fans and was a record-breaking weekend for BetMGM. The operator took three times the number of bets than any other F1 race in its history.

“[20]24 is the year we unlock Las Vegas,” Greenblatt stated. “Why that’s important, is because recruiting a player in Vegas costs 27% of the cost of acquiring that player in the open market. They’re also more than 130% as valuable.

“The role of Vegas in player acquisition and retention is really important. Those players we acquire ..

December 6, 2023

Australian Senate approves credit card online gambling ban legislation

The Australia Senate has approved legislation to prohibit the use of credit cards for online gambling in the country, with a near-blanket ban set to come into effect within six months.

The Interactive Gambling Amendment (Credit and Other Measures) Bill 2023 was introduced in September. This legislation seeks to ban credit cards and other credit-related products, as well as digital currencies, in Australia.

Australia’s House of Representatives passed the bill last month, allowing it to progress to the Senate. Today (6 December), the Senate also approved the legislation, clearing the way for it to pass into law.

The country already has a ban in place on gambling with credit cards at land-based venues. This means the bill effectively places a blanket ban on credit card gambling across Australia.

What is in the credit card bill?

Aside from a ban on credit products, the bill features several other related measures. These include fines of up to AU$234,750 (£122,475/€143,003/US$154,282)..

December 1, 2023

Nevada gambling revenue exceeds $1.3bn in October

Gambling revenue in Nevada increased 3.1% year-on-year to $1.32bn (£1.04bn/€1.21bn) in October, helped by growth across multi-denomination slots, baccarat and sports pool betting.

Revenue was ahead of $1.28bn in October 2022 and also 3.9% more than $1.27bn in Nevada in September this year. It was also the best October revenue total in the history of the state’s market.

Slots drew the lion’s share of revenue, generating $894.9m in revenue in October. This was 2.0% higher than in the same month last year.

Multi-denomination slots were the single highest revenue source with $527.8m for the month, up 16.3%. Incidentally, almost all other slot games reported a decline in revenue, including penny slots, with revenue dropping 11.7% to $271.9m

Baccarat growth continues in Nevada

Figures released by the Nevada Gaming Control Board showed table, counter and card game revenue edged up 4.2% to $420.3m. This was helped by ongoing growth within the baccarat segment, with revenue jumping 35.3% t..

November 27, 2023

Brazil’s upcoming vote: Everything you need to know

Brazil's Senate plenary could vote to legalise sports betting and online casino on Wednesday (29 November). Ahead of the vote, we bring you all you need to know about the journey so far.

Before we delve into the complex legal history of sports betting in Brazil, let’s start off with last week’s key step.

Last Tuesday (21 November), the industry was waiting eagerly for Brazil’s Economic Affairs Committee (CAE) to vote on whether to greenlight sports betting and igaming through Bill 3,626/2023. This was delayed by one day on the request of senators, according to Senado Noticias.

The bill will now head to the Senate Plenary this Wednesday (29 November)

The CAE’s eventual approval on Wednesday 22 November gave the thumbs-up for the bill to move to the Senate plenary. This session will now take place this Wednesday (29 November). If the plenary vote goes in the bill’s favour, sports betting and igaming will officially be legal in Brazil.

Importantly, the outcome at the CAE confirm..

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Tag: Gaming