Online casino – Page 19 – FairOdds Network

September 2, 2022

Simon Hammon’s lessons from a lifetime in slots: The present

Simon Hammon, recently named chief executive of Relax Gaming, insists he’s not a typical “product guy”. But the games released under his watch, like Starburst during his time at NetEnt, have had a massive impact on the industry. In the second part of a three-part interview, Hammon offers advice for businesses in the crowded slots space of today.

Simon Hammon’s success at NetEnt ultimately took him to Relax Gaming. In part one of this series, Hammon outlined how the move might have looked to some like a “step down”.

But since joining, the business has been growing strongly. For the second quarter of 2022, revenue was up 20% quarter-on-quarter to £5.2m, with six new titles rolled out and the Dream Drop jackpot feature going live.

Its partner base expanded to 15 new operators in that same period, while 132 studios were integrated into its RGS, while its reach extended to Italy and Spain, with a licence for Ontario setting it up for entry to North America.

That business-minded view has..

August 26, 2022

Cost of living represents looming crisis

iGB op-ed: Zak Thomas-Akoo argues the gaming sector should brace for a squeeze as macroeconomic conditions start to bite.

“Now is the winter of our discontent,” burbled Richard III, in the famous warning of what happens when a clever clogs lets ambition outstrip means. More prosaically, winter is certainly on the mind of those in the UK as the country braces for a potential triple threat of recession, energy price shocks and generalised inflation, all of which have direct industry implications.

A combination of supply constraints, fiscal and monetary policy, and energy disruptions have made inflation a worldwide phenomenon but it is most ferocious in the UK. In August, annualised inflation reached 8.5% in the US, 8.6% in Eurozone, just 6.5% in France – and 10.1% in Britain.

As our long, hot and doomed summer recedes into the middle distance, from Middlesbrough to Downing Street, Britain is blowing off its dusty old picture books of 1978 as it braces for the squeeze, and it’s not muc..

August 25, 2022

Delaware sets igaming revenue record in July as sports betting struggles continue

Online gaming revenue in Delaware reached a record-high in July, though the state’s sports betting market continued to struggle.

Revenue from igaming amounted to $1.25m (£1.06m/€1.25m). narrowly beating the previous monthly high of $1.22m set in April this year.

The July figure was also 58.1% higher than $793,017 in the same month last year, as well as 12.1% ahead of $1.1m in June this year.

Online video lottery accounted for $1.0m of total revenue for the month, with table games at $165,378 and poker rake and fees $43,944.

Players spent $39.4m gambling online, including $26.8m on video lottery and $12.6m on table games.

Delaware Park was the leading operator in the igaming sector with $377,753 in revenue off $16.2m in bets, ahead of Bally’s Dover on $377,753 from $12.9m and Harrington Raceway with $332,904 off $9.8m in wagers.

Turning to sports betting, revenue for the month stood at $383,249, down 27.5% year-on-year, but 80.1% higher than $212,768 in June this year.

Consumers ..

August 25, 2022

Delaware sets igaming revenue record in July as sports betting struggles continue

Online gaming revenue in Delaware reached a record-high in July, though the state’s sports betting market continued to struggle.

Revenue from igaming amounted to $1.25m (£1.06m/€1.25m) narrowly beating the previous monthly high of $1.22m set in April this year.

The July figure was also 58.1% higher than $793,017 in the same month last year, as well as 12.1% ahead of $1.1m in June this year.

Online video lottery accounted for $1.0m of total revenue for the month, with table games at $165,378 and poker rake and fees $43,944.

Players spent $39.4m gambling online, including $26.8m on video lottery and $12.6m on table games.

Turning to sports betting, revenue for the month stood at $383,249, down 27.5% year-on-year, but 80.1% higher than $212,768 in June this year.

Consumers w..

August 23, 2022

Rush Street Interactive: the exception that proves the rule

At a time when US sports betting operators are shifting focus to profitability rather than expansion, Rush Street Interactive believes it is a step ahead of the competition. Chief executive Richard Schwartz explains how a disciplined approach, online casino and its pan-American ambitions, will achieve this.

The early stages of the US betting and igaming market have been typified by a race to build as big a customer database as possible, at whatever cost. Each state that launches experiences advertising shock and awe, as operators bankroll vast campaigns to use each rollout as a land-grab for new sign-ups.

Rush Street Interactive (RSI), the business that listed on the New York Stock Exchange in December 2020, has looked to take a different approach. At a time when there is greater scrutiny of company spending, and investors query how long hefty losses can be sustained, it has managed to keep its spending in check.

While the push for profitability is still relatively new to the wide..

August 19, 2022

Michigan online gambling market bounces back in July

The Michigan Gaming Control Board (MGCB) reported $148.2m (£125.1m/€147.3m) in combined online casino and internet sports betting revenue in July, halting three consecutive months of decline in the state.

Gross internet gaming and sports betting receipts from commercial and tribal operators in July was 8.3% higher than $136.9m in June this year, while the total was also 32.4% up from $111.9m in July of 2021.

Online gaming gross receipts were 37.2% higher year-on-year at $126.6m, while gross sports betting gross receipts jumped 10.2% to $21.6m, helped by a 9.6% increase in handle.

Total adjusted gross receipts, which account for promotional spending, reached $131.2m, up 37.4% on July last year. Of this total, $117.2m came from igaming and $14.0m sports wagering.

Licensed operators submitted $24.9m in taxes and payments to the state during July, with $24.1m coming from igaming taxes and fees and $815,409 sports betting.

In terms of year-to-date, aggregate internet gaming adjusted gr..

August 19, 2022

Michigan online gambling market bounces back in July

Online gaming gross receipts were 37.2% higher year-on-year at $126.6m, while gross sports betting gross receipts jumped 10.2% to $21.6m, helped by a 9.6% increase in handle.

Total adjusted gross receipts, which account for promotional spending, reached $131.2m, up 37.4% on July last year. Of this total, $117.2m came from igaming and $14.0m from sports wagering.

Licensed operators submitted $24.9m in taxes and payments to the state during July, with $24.1m coming from igaming taxes and fees and $815,409 sports betting.

In terms of year-to-date, aggregate internet gaming adjust..

August 19, 2022

A lucky escape for Entain?

iGB op-ed: this week, the gambling industry was the subject of front-page news when gaming giant Entain paid a record settlement of £17m (€20.1m/$20.4m) to the GB Gambling Commission for a range of regulatory failings. Marese O’Hagan ponders whether another operator would have had its licence revoked outright.

News of the scale of Entain’s £17m regulatory settlement this week generally ignites sharp debate between anti-industry campaigners and those in support of the sector. And with social media playing such a large part in communication today, it is easier than ever to absorb both sides of the debate.

However, there was little sympathy for Entain on Wednesday morning when the penalty was announced.

In total, Entain has agreed to pay £14m for social responsibility and anti-money laundering (AML) failures carried out by its online gaming business LC International Limited – which operates 13 UK sites, including Coral.co.uk, Ladbrokes.com and FoxyBingo.com – and a further £3m for simi..

August 17, 2022

Entain to pay record £17m for wide-ranging failings in GB

The GB Gambling Commission has ordered Entain to pay a record £17.0m (€20.3m/$20.6m) after it identified a series of social responsibility and anti-money laundering (AML) failings across its online and land-based businesses.

Entain will pay £14.0m for failings from LC International Limited (LCI), which runs Entain’s online brands including Ladbrokes.com, Coral.co.uk and Foxybingo.com.

The remaining £3.0m is for the Ladbrokes Betting & Gaming Limited (LBG) land-based business, which operates 2,746 betting shops across Great Britain.

All £17m will be directed towards socially responsible purposes as part of a regulatory settlement, while the Commission will impose a series of additional licence conditions, with an Entain board member tasked with overseeing a new business plan for improvement.

In addition, a third-party audit of compliance with the Licence Conditions and Codes of Practice will take place within 12 months.

As a result of the failings, Gambling Commission chief execut..

August 16, 2022

GiG sets €65m EBITDA goal for 2024 as Sportnco contributes to record Q2

Gaming Innovation Group (GiG) drastically upped its long-term targets – now aiming for earnings before interest, tax, depreciation and amortisation (EBITDA) of around €65m (£54.7m/$65.9m) by 2024 – following a record quarter bolstered by the acquisition of Sportnco.

The results – for the second quarter of the year – were the first to include sportsbook supplier Sportnco. GiG acquired Sportnco for €51.3m (£43.2m/$56.7m at the time) as the quarter began after agreeing the deal in December.

The business set an all-time record in revenue with €22.1m, up 37.1% year-on-year. While the acquisition helped the business, GiG also noted the total was up by 24.0% organically.

Media – covering GiG’s affiliate brands – continued to make up the majority of revenue, with €14.8m, up by 35.1% year-on-year, and by 5.0% from the previous record high set in Q1.

Of this total, €9.8m came from publishing brands and the remaining €5.0m from paid media. New launches for the division included a brand focuse..

August 12, 2022

Flutter CEO: we are well-placed to “capitalise” on UK reforms

Flutter chief executive Peter Jackson said that he expects his business to ultimately be a winner from the results of the UK Gambling Act review, as Flutter’s scale will help it navigate changes while smaller businesses may exit the market.

The comments came during Flutter’s earnings call for the first half of 2022, following results in which the business revealed that its FanDuel brand had turned a profit during Q2.

Jackson (pictured) argued that in both the UK and Australia, Flutter’s businesses had “outgrown regulations”.

He discussed the introduction of point-of-consumption taxes in these markets as an example of a regulatory challenge that had a short-term negative impact, but made Flutter brands stronger in the long term.

“Our scale and operating leverage have allowed us to mitigate the impacts, both through operational efficiencies, and also through market share gains as smaller operators were required to exit from the market.”

In the presentation, Flutter also noted that ..

August 11, 2022

Entain to buy SuperSport, prepares for wave of Eastern Europe acquisitions

Online giant Entain has agreed to acquire a 75% stake in Croatian market leader SuperSport for €690m, in what it expects to be the first of many acquisitions in Central and Eastern Europe.

Entain will partner with Czech investment firm EMMA Capital to create a new venture named Entain CEE, in which Entain will own a 75% stake.

This new business – intended to make acquisitions in Central and Eastern Europe – will then acquire SuperSport, which is the largest betting and gaming brand in Croatia.

While Entain cited SuperSport’s 54% market share as one reason for doing the deal, it also suggested that the deal will just be the start of a flurry of M&A activity targeting Central and Eastern Europe.

The Entain board said the business would create “an exciting platform” in this region, led by SuperSport CEO Radim Haluza.

“The combination of Entain’s global scale, access to capital and content, EMMA’s regional knowledge and connectivity, alongside the expert local operational knowledge o..

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Tag: Online casino