December 18, 2023

December 18, 2023

Massachusetts’ November revenue – are we seeing ESPN Bet’s first surge?

Massachusetts’ gaming revenue dropped during November despite seeing its monthly sports betting handle record smashed. More interesting, however, was Penn Interactive's surge in wagers.

Casino takings were pretty much flat compared to the previous month according to figures released by the Massachusetts Gaming Commission. However, a good month for punters saw sports betting accrual win drop by $10m compared to October.

Total taxable gaming revenue of $143.0m for all casino and sports betting was down by 7.7% compared to the $155.8m generated in the previous month.

Total sports betting revenue hit by low hold rate

In reviewing aggregated sports betting performance, Massachusetts’ eight mobile and online sports wagering licensees and the three in-person licensees generated accrual win of $50.6m.

Some $654.4m was wagered by sports bettors during November, which was up almost 15% on the $571.8m spent in October. It was 12% greater than the previous best month for Massachusetts b..

December 18, 2023

Episode 24: Victor Rocha on California’s betting ballot measure

The industry was shocked when a new California sports betting ballot measure landed after last year’s bruising fight, but Pechanga.net's Victor Rocha tells the World Series of Politics that tribes are up for the next battle.

Rocha, one of the most eloquent and influential voices in the Indian Gaming Association and host of The New Normal, tells Brendan Bussmann and Robin Harrison how any California sports betting debate will shake out.

“Smoke and mirrors”

“It’s insulting,” Rocha says of the new ballot measure, arguing it looks to drive a wedge between Californian gaming and non-gaming tribes. A set of amendments doesn’t make it any more palatable. “It’s all smoke and mirrors.

“These guys are not listening, because they don’t care. They want to go forward and they are shocked they don’t see Indians running towards them throwing flowers at their feet.”

California sports betting: All roads lead to the tribes

Gaming tribes aren’t trying to be obstructionist, he explains, in fig..

December 18, 2023

Sun International acquires Peermont in ZAR7.3bn deal

South Africa's Sun International has agreed the purchase of Peermont, including its flagship Emperors Palace resort and online brand PalaceBet.

The deal, announced on Monday, is worth ZAR7.3bn (£313m/€363.2m/$396.6m). Sun International labelled the move a “unique opportunity”, acquiring a “world-class and highly cash generative” company in Peermont.

The agreement sees Sun International obtain Peermont’s 11 properties across South Africa and Botswana. The online sports betting site PalaceBet is also included.

Emperors Palace is a leading casino resort in Gauteng, with 1,695 slot machines, 69 gaming tables and 757 rooms. In Sun International’s announcement, it pointed to the resort’s “unique proximity” to the OR Tambo International Airport as an opportunity to attract “high net-worth customers”.

The move was backed by the group’s investors, with 62.54% of shareholders providing written support for the purchase. Sun International believes the transaction will “enhance the qualit..

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Daily Archives: December 18, 2023

Massachusetts’ November revenue – are we seeing ESPN Bet’s first surge?

Episode 24: Victor Rocha on California’s betting ballot measure

Sun International acquires Peermont in ZAR7.3bn deal