July 2023

July 25, 2023

Kindred leading in Netherlands as revenue up 29% in Q2

In its Q2 financial report Kindred posted a 29% year-on-year increase in revenue to £307.3m (€356m/$394m).

Kindred’s Q2 focus on cost controls amid an ongoing strategic review and a strong performance in the Netherlands are keeping the business on track to surpass full-year earnings expectations, according to interim CEO Nils Andén.

A total of £63.6m of sales was generated in the Netherlands. Andén said in an earnings call today that he believes Kindred is now the market leader in the country.

Sports betting growth drives revenue

Performance was positively impacted by an increase in sports betting, favourable results and lower bonus costs. Sports betting gross margin after free bets was 11.3% in Q2. This was up from 9.3% in the previous year and above the group’s long-term average of 9.6%.

However, excluding the Netherlands, active customers and gross winnings revenue remained relatively flat. The business said this was due to headwinds in Belgium and Norway offsetting growth in ..

July 21, 2023

DC sports betting handle falls again in June

Consumer spending on sports betting in Washington DC declined for the third consecutive month in June, while revenue also fell month-on-month.

Monthly handle amounted to $11.2m. This was down 10.4% from $12.5m in May this year and 18.8% lower than $13.8m in June 2022.

In terms of gross gaming revenue, this reached $484,672 in May. The total was 75.8% less than $2.0m in May and 51.5% behind $1.0m in Washington DC last year.

Ranking by revenue, Caesars Entertainment retained its grip on top spot in DC. The operator posted $256,861 in revenue from $3.0m in total bets.

Read the full story on iGB North America

July 19, 2023

Pennsylvania gambling revenue records tumble in 2022-23

Pennsylvania set a series of new gambling revenue records during the 2022-23 fiscal year, while the state also reported year-on-year growth in June.

Total gambling revenue in 2022-23 reached $5.51bn, according to the Pennsylvania Gaming Control Board (PGCB). This was an all-time high for the state, beating the previous record of $5.04bn set in 2021-22 by 10.0%.

Retail slots were the main source of revenue by some margin. The $2.45bn generated was 1.7% ahead of last year and the second-highest annual total in history, behind $2.48bn in 2011-12.

However, land-based table games revenue slipped 4.1% year-on-year to $974.0m.

Read the full story on iGB North America

July 19, 2023

Football tops suspicious betting alerts for IBIA in Q2

The International Betting Integrity Association (IBIA) recorded 50 suspicious betting alerts in the second quarter, with football again the main area of concern.

The Q2 total was lower than the 88 alerts reported in the same quarter last year, but higher than 48 in Q1 2023. IBIA initially reported 40 reports for the first quarter, although this was later revised upwards.

Football generated the most alerts for the second consecutive quarter, with 19 representing 38% of the Q1 total.

IBIA also noted 14 alerts for tennis, eight for table tennis and five for darts. In addition, there was one alert each for boxing, bowls, esports and badminton.

34 alerts in Europe

In terms of geography, Europe was by far the main source of suspicious betting alerts, with 34 across the continent.

Of the European alerts, tennis was the primary source with 11, followed by table tennis and football with eight each. Darts competitions were responsible for five, then one each for badminton, boxing and bowls..

July 18, 2023

MA online sports betting handle down 27% to $323.5m in June

Players in Massachusetts spent $323.5m betting on sports online in June, a 27.1% drop from the amount wagered in May.

June was the third full month of legal online betting in the state. The total bet was lower than $443.6m in May and $566.2m in April, the first month of regulation.

An additional $8.5m was spent by players betting at land-based locations across the state. Total handle for the month stood at $332.0m, down 27.0% month-on-month.

In terms of taxable revenue, online’s share amounted to $32.1m. This was 46.3% less than $59.4m in May, due to the handle decline.

Read the full story on iGB North America

July 18, 2023

GiG powers Crab Sports’ launch in Maryland

Crab Sports has rolled out online sports betting in Maryland via a partnership with Gaming Innovation Group (GiG).

Under the arrangement, GiG will provide both its platform and sportsbook to the wagering operator.

GiG first announced details of its link-up with Crab Sports in Maryland in June 2022. This was finalised in September of the same year.

The launch makes Crab Sports the eleventh operator to go live in the state since it opened its legal online wagering market last November.

BetMGM, Caesars, PointsBet, BetRivers, DraftKings, Barstool, FanDuel, Betfred, Fanatics and SuperBook are also active in Maryland.

Read the full story on iGB North America

July 18, 2023

Delaware igaming spend slips to year-low in June

Consumer spending on online gambling in Delaware fell to a calendar year-low of $37.9m in June, although sports betting handle improved month-on-month.

June’s igaming spend was 8.3% higher than $35.0m in the same month last year but 14.3% behind the $44.2m bet in May 2023.

Online video lottery accounted for $23.9m of all spend, while players also wagered $14.0m on table games.

Revenue from igaming during the month amounted to $1.1m. This was up 35.9% year-on-year but 8.3% lower than $1.2m in May.

Read the full story on iGB North America

July 18, 2023

HKJC betting turnover reaches HK$141.1bn in 2022-23 season

Turnover in the Hong Kong Jockey Club's 2022-23 season grew 0.5% year-on-year to HK141.10bn (£13.78bn/€16.03bn/US$18.05bn) as the contribution from international turnover and commingled pools offset local declines.

The Hong Kong Jockey Club’s (HKJC) 2022-23 campaign featured a total of 88 meetings and comprised 835 Hong Kong races and 299 overseas simulcast races.

The increase in turnover, HKJC said, was down to the rising popularity of simulcast races. Turnover from betting on simulcast events jumped 12.5% year-on-year to $11.80bn.

Most simulcast turnover came from customers in Hong Kong, with this rising by 11.3% to $10.50bn. Turnover from the HKJC’s World Pool overseas customers and partners was also up 23.0% to $1.30bn.

While local racing in Hong Kong remained by far the primary source of turnover, contributing $129.30bn, this was 0.5% lower than the previous season.

Of the local racing total, $104.00bn came from consumers in Hong Kong, while $25.39bn was generated by co..

July 17, 2023

NJ gambling revenue up 13.9% year-on-year in June

Gambling revenue in New Jersey increased 13.9% year-on-year in June, although the state experienced a month-on-month decline.

State-wide revenue for the month amounted to $457.2m. This was up from $401.5m in June of 2022 but 13.9% down from $401.5m in May this year.

Land-based gambling remained by far the primary source of revenue during the month. This area of the market generated $241.6m in revenue, 5.4% more than last year.

Slots accounted for $183.0m of all land-based revenue, a rise of 7.0%, while table games revenue climbed 0.9% to $58.1m.

Read the full story on iGB North America

July 17, 2023

Entain to acquire Angstrom Sports in £200m deal

Entain will acquire sports modelling, forecasting and analytics specialist Angstrom Sports in a deal worth up to £203m.

Under the deal, Entain will pay an initial £81.0m, as well as £122.0m in additional payments over a three-year period, totaling £203.0m.

Angstrom utilises simulation-based predictive modelling to offer a range of pricing and forecasting capabilities to sportsbook clients.

Primarily serving the US market, Angstrom’s offering covers the most popular competitions and leagues in the country.

The acquisition will allow Entain to offer a full suite of end-to-end analytics, risk and pricing capabilities for its US operations, namely BetMGM, which it runs as a joint venture with MGM Resorts International.

This will improve customers’ US sports betting experience including more betting opportunities, optimised parlay and in-play products, it added.

The acquisition is expected to complete during Q3 2023.

Unlocking new US opportunities

“We’re delighted Angstrom will b..

July 14, 2023

Penn migrates Barstool Sportsbook to proprietary platform

All Penn Entertainment’s brands are powered by proprietary technology after Barstool Sportsbook and Casino was migrated to its in-house platform.

The migration took place simultaneously across 16 states where Barstool operates during Major League Baseball’s (MLB) All-Star Break, the largest-scale technology migration in North American gaming to date.

Penn describes the migration as a major development which completes its long-term strategic goal to be technologically independent, bringing all gaming operations in-house.

Penn’s acquisition of theScore, which was in the process of building the platform when it was bought, and the launch of Penn Games Studios also formed part of this plan. TheScore, now Penn’s brand in Ontario, was the first to move to the new tech stack.

‘Milestone achievement’

The updated version of Barstool Sportsbook and Casino contains several new elements, including streamlined navigation, more personalisation capabilities and faster deposits and withdrawals.

..

July 14, 2023

Women’s sports boom raises corruption risk, new report warns

Increased and more widespread monitoring of women’s sport should be considered to help combat match-fixing, according to a new report.

‘Breaking Barriers: Assessing Women’s Sports, Betting, and Integrity Challenges’ looked at the current state of female sports around the world.

Presented this week at iGB L!VE, the study had the support of leading industry organisations, operators and suppliers. These included the International Betting Integrity Association (IBIA), All-In Diversity Project (AIDP), Entain, Flutter and Stats Perform.

The report flagged a “dramatic” rise in women’s sport worldwide, accompanied by a similar increase in betting.

Football led the way in terms of betting activity, with an annual market growth rate of approximately 20% since 2020. This was followed by tennis, basketball and cricket, with growth rates of over 10% during the period from 2017 to 2022.

The study also looked at the characteristics of female bettors. The percentage of female bettors in women’s ..

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Monthly Archives: July 2023