Daily Archives: November 16, 2022

Entain and Sportsbet respond to Australian gambling harm inquiry

Online gaming operators Entain and Flutter-owned Sportsbet have issued responses to an ongoing Australian inquiry into online gambling and its impact on those experiencing harm.

On 15 September, an Australian parliamentary committee, the House of Representatives Standing Committee on Social Policy and Legal Affairs began an inquiry into online gambling and its effects on those who experience harm from the activity.

The committee sought out written submissions from both individuals and organisations providing recommendations on this topic. Entain and Sportsbet responded to the call to action, and wrote separate documents outlining their recommendations for policy in this area.

Appropriate levels of regulation

In the document that Entain provided, it argued that it believed that current levels of regulation in the sector were “appropriate”.

“Regulation that is not proportionate risks undermining the customer experience and driving growth in the use of black market illegal offshore..

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Sportradar raises guidance after US segment turns Q3 profit

Sportradar raised its full-year guidance after it reported a 30.7% revenue increase to €178.8m and said its US segment turned a profit in Q3.

Sportradar reported that revenue from the United States was up by 61.2% to €31.6m.

“This growth was driven by a strong increase of US betting services, driven by cross-selling non-data products to betting operators as well as benefiting from our customers’ growth as a result of a development in the underlying market and new states legalising betting,” the group said.

Rest-of-world betting services was the largest segment of the business, with revenue up 28.4% from Q3 of 2021.

This, Sportradar said, was mostly due to clients using more products in which Sportradar receives a higher revenue share, such as as managed betting services.

“This growth was driven primarily by increased sales of our higher value-add offerings including managed betting services, which increased 84% to €38.2 million, and live odds services, which increased 12% to €27..

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Codere Q3 revenue hits pre-pandemic levels thanks to strong LatAm growth

Spain, Italy and Latin America-facing gaming business Nueva Codere’s Q3 revenue increased 47.2% year-on-year to €343.4m (£300.7m/$357.8m), recovering to pre-pandemic levels.

The robust revenue growth is mainly due to the lifting of Covid-19 restrictions in venues, ensuring a rebound for Codere in almost all markets.

Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 74.8% to €57.4m from €24.6m in the same period the previous year. Codere’s potent performance in Argentina and other Latin American countries is one important factor in this result.

The company’s adjusted EBITDA margin also rose 2.6% to 16.7% in the three months leading to 30 September compared to the same period of 2021.

Codere country totals

Revenue jumped for Codere in all Latin American markets – most dramatically in Argentina where it increased 146% year-on-year to €98.6m, 122% of the pre-pandemic total. One important factor is that average player spend per visit has incre..

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Detroit casino revenue continues to decline in October

The Michigan Gaming Control Board reported a further year-on-year and month-on-month decline in revenue from Detroit’s three land-based commercial casinos in October.

Combined revenue for the month from the MGM Grand Detroit, MotorCity Casino and Hollywood Casino at Greektown was $102.8m (£86.6m/€98.9m), which was 10.0% lower than $114.1m in October 2021 and also 0.7% down from $103.4m in September this year.

Slots and table games revenue in October amounted to $100.7m, a year-on-year drop of 9.7% from $111.5m last year but only marginally lower than $100.8m in September this year.

Qualified adjusted gross receipts (QAGR) from retail sports betting from casinos accounted for the remaining $2.1m in revenue, down 19.2% from $2.6m in both October 2021 and September this year.

Sports wagering handle for the month reached $34.2m, a drop of 31.3% on last year but a 27.1% increase from $18.5m in September.

MGM remained the market leader with 46% share, ahead of MotorCity on 32% and the H..

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Caesars launches sportsbook app in Maryland ahead of market opening

Caesars Entertainment has announced the launch of its mobile sportsbook app in Maryland in preparation for the state opening its regulated market.

The Caesars Sportsbook app is available for download to mobile devices, while consumers can also access the Caesars Sportsbook website on desktop.

Users can take advantage of a special early offer when they register and deposit funds but will not be able to place bets until the market launches.

Read the full story on iGB North America

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Indiana handle hits seven-month high in October

Consumers in Indiana wagered $446.2m (£375.0m/€428.4m) on sports during October, the highest monthly total since March this year.

October’s handle was 3.3% lower than $461.2m in the same month last year, but 16.7% up from $382.5m in September this year and the largest amount since $476.8m was bet in March.

Football remained the most popular sport to wager on during the month, drawing $168.6m in total bets, ahead of $57.1m in basketball wagers and $32.5m worth of baseball bets. A further $126.2m was spent on parlay bets and $61.4m across other sports.

Read the full story on iGB North America

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Iowa sports betting revenue up year-on-year in October despite handle dip

Sports wagering revenue in Iowa rocketed by 189.4% year-on-year in October despite the state’s handle falling 15.0%.

Revenue for the month amounted to $19.1m (£16.0m/€18.3m), up from $6.6m in the same month last year, but 24.8% lower than $25.4m in September of this year.

Of this total, $16.4m was attributed to online sports betting, while the remaining $2.7m came from wagering at retail sportsbook facilities across the state.

Read the full story on iGB North America

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Former MLB player Puig pleads guilty to lying in illegal gambling investigation

Former Major League Baseball (MLB) All-Star Yasiel Puig has pled guilty to charges for lying to federal agents who were investigating an illegal gambling operation.

Federal law enforcement agents interviewed Puig regarding bets he placed on sporting events with an illegal gambling operation run by an individual named Wayne Nix. The Cuban-born baseball star has agreed to plead guilty to one count of making false statements – an offense for which he could face up to five years in federal prison.

Puig, who currently is a right fielder for the Kiwoom Heroes in South Korea, has agreed to pay a fine of at least $55,000 and to make an initial appearance in US District Court.

“Under our system of justice, no one is above the law,” said United States attorney Martin Estrada. “The integrity of our nation’s criminal justice system depends on people telling the truth, and those who fail to abide by this simple principle must face consequences.”

“When given the opportunity to be truthful about ..

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