Casino Archives - Page 2 of 11

March 21, 2024

Penta working with JP Morgan to explore “strategic options” for Fortuna

Investment group Penta Investments is working alongside JP Morgan to explore the potential sale of Fortuna Entertainment Group.

Penta is exploring its options for Fortuna, which currently operates in Poland, Croatia, Romania, Slovakia and the Czech Republic, running sites and betting shops under the Fortuna, Casa Parulior and PSK brands.

Any sale of Fortuna could purportedly be worth up to €2bn (£1.7bn/$2.2bn), according to Reuters which broke the news. Penta acquired a 79.8% stake in Fortuna in 2017, having first bought into the company in 2005, before launching a takeover bid in 2018.

While not ruling out an exit, Penta is evaluating alternatives that would best help the development of the Fortuna franchise, the business told iGB, while ensuring sustainable growth and the creation of long-term value.

“As discussions are in their early stages, it’s premature to speculate on the specific outcomes,” Penta said. “However, the possibility of a majority sale remains within the realm of..

March 20, 2024

Pennsylvania igaming revenue reaches record $184.9m in February

Online gambling revenue in Pennsylvania hit a record $184.9m (£145.3m/€170.1m) during February, although the state reported year-on-year declines across almost all other markets.

Total gambling revenue in February amounted to $499.1m. This was 9.3% ahead of $456.8m in Pennsylvania last year but 1.6% behind $464.4m in January this year.

Retail slots remain the largest source of revenue in the Keystone State, generating $202.7m, only marginally lower year-on-year. This was despite a decline in the total number of slot machines from 25,708 to 24,962.

Elsewhere in the retail sector, revenue from land-based table games increased by 2.9% to $76.6m.

Online slots and table games growth in February

Turning to the Pennsylvania online market and total igaming revenue was 40.5% higher at $184.9m, compared to $131.6m in 2023.

Online slots revenue jumped 35.6% to $125.9m, while internet table games revenue hiked 56.7% to $56.6m. There was, however, a slight decline in online poker revenue, wi..

March 19, 2024

Michigan sports betting handle drags down February gaming totals

Michigan gambling operators saw an overall dip in receipts and revenue in February, according to the latest report from the Michigan Gaming Control Board.

The combined $218.5m in icasino gross receipts and sports betting handle was down 4.8% compared to January. The $188m taken in by online casino was the highest in state history. This broke the January record of $181.9m in gross receipts.

Combined adjusted gross revenue (AGR) for February was $182.1m. Online casino operators took in $169.2m in AGR, a 3.1% increase compared to January, and digital sports betting had AGR of $12.9m, a 31.3% decline compared to January.

A total of 15 operators were live for online casino in February, along with 13 sports betting platforms.

Tribal operators made $3.9m in payments to governing bodies for February.

Sports betting handle was $402.6m, compared to $577.4m in January. The slump is not unusual, as February may feature the Super Bowl, but it does not have a full slate of NFL games every week..

March 15, 2024

ATG calls on banks to help combat “worrying” Sweden channelisation rates

Aktiebolaget Trav och Galopp’s (ATG) channelisation report for Q4 has shown a continuation of worsening channelisation rates in Sweden.

ATG’s report estimated channelisation rates for gaming to be between 69%-82% in Sweden during Q4. This falls well behind the Swedish’s government’s target of 90% channelisation to legal operators.

The channelisation rate has fallen since the third quarter of 2023. ATG believes there is little sign of the trend being halted.

ATG found visitor traffic to unlicensed operators has increased tenfold since 2019. The research also highlights that out of 20 unlicensed sites with the highest Q4 visitor traffic, 19 shared the same platform providers as licensed operators.

Additionally, of the 20 black-market sites included in the report, none were on the Swedish regulator Spelinspektionen’s banned list.

“It is a very worrying development and our investigation shows that more still needs to be done to keep the unlicensed companies away,” ATG chief executive ..

March 12, 2024

Maryland second state with lower February sports betting handle

Player spending on sports wagering in Maryland reached $442.6m (£345.7m/€404.7m), an increase on the previous year but lower than January’s total.

Handle was up 30.4% from $339.4m in February 2023. However, it was 18.8% behind the $545.0m bet in Maryland during January this year.

The drop in handle follows the same trend as New York, with the Empire State announcing a reduction in February handle despite the Super Bowl. However, this could also be attributed to the shorter month of February and the NBA All-Star break that ran between 16-21 February.

Of the total in Maryland, $428.4m was wagered online, including $13.4m in free bets, and $14.1m at retail sportsbooks.

Sports betting handle was 18.8% behind the $545.0m bet in January

Taxable win – the amount remaining after deducting prizes, promotional wagers and other amounts – reached $28.1m. This was 51.2% ahead of $18.6m last year but 48.9% short of January’s $55.0m.

Mobile taxable win amounted to $27.1m, while retail wagering..

March 8, 2024

Alabama advances scaled-back gambling bills with sports betting excluded

The Alabama senate has passed a pair of bills that would see lottery and state-regulated gambling legalised, although statewide sports betting has been excluded.

Alabama lawmakers passed HB151 and HB152 in February. In its original form, HB151 would have legalised retail and online sports betting, as well as a state lottery and casinos in areas of the state that have bingo-type games. HB152, meanwhile, was to create a state lottery and gaming commission to regulate gambling in the state.

However, HB151 stalled in the senate, with sports betting and casinos now removed from the bill. The amended HB151 passed by a vote of 22 to 11 on Thursday, reaching the 21 votes required to advance. Meanwhile, HB152 also passed.

The bills still include lottery. Additionally, the bills would authorise the governor to negotiate a compact with the Poarch Band of Creek Indians (PBCI) to regulate gaming activities on tribal lands. The PBCI operates the three existing casinos in Alabama.

Senator Greg Al..

March 6, 2024

Super Group’s FY2023 sees €199.7m drop in profit despite record revenue

Super Group recorded a profit before tax of €16.8m (£14.4m/$18.3m) for its 2023 financial year, a significant drop from the €216.5m generated the year prior.

Super Group attributed the drop in profit before tax to non-cash charges of €64.6m. €28.6m of that total came from the January 2023 acquisition of online sports betting and igaming business Digital Gaming Corporation (DGC), which allowed Super Group to enter the US at the start of the year.

The company also highlighted that €42.1m of the drop in profit was down to changes in fair value of option liability and an impairment of goodwill. Super Group also pointed to the 2022 figure’s inclusion of €246.8m in non-cash gains relating to the fair value of warrant and earnout liabilities and related foreign exchange movements.

Operational EBITDA was down from €208.5m in 2022 to €197.3m in 2023. Meanwhile, unrestricted cash was also €12.9m lower at €241.9m, which Super Group again assigned to the DGC acquisition.

Boosted by record rev..

March 5, 2024

Ohio online sports betting nets higher revenue despite handle decline

Ohio saw sports betting handle fall but revenue soar during a mixed start to the new year in the Buckeye State.

Ohio Casino Control Commission (OCCC) data showed revenue of $113.1m for the state’s operators during the month to 31 January 2024. While this was down 46% compared to the same month in 2023, it was up 30% on the previous month, December 2023.

With Ohio’s sports betting market launching in January 2023, this is the first month to enable year-on-year comparisons. That first month of operations saw $210.5m generated by the state’s sportsbooks. However, revenue was as low as $87.3m in December 2023.

Almost all the revenue came from online and mobile, totalling $110.6m, with just $2.5m from retail.

FanDuel, based at Belterra Park, accounted for more than half of revenue as it generated $53.0m. DraftKings, based out of Hollywood Toledo, was the only other operator to contribute more than $10m. It brought in $34.0m in January.

Handle drops following player props ruling

Handle..

March 5, 2024

GC’s Gambling Survey for Great Britain: Lottery reigns supreme

The first data from the Gambling Commission’s (GC) Gambling Survey for Great Britain (GSGB) has highlighted the prevalence of lottery among gamblers in Great Britain.

48% of respondents had gambled in the past four weeks, although that figure dropped to 27% when excluding lottery-only players. Over a fifth of all respondents had only taken part in lottery draws.

The 48% figure of respondents having gambled in the past four weeks is a slight reduction on the 49.5% number stated in the final experimental stage of the survey, released back in November.

Participation drop-off without lottery the same for land-based and online

The pattern was the same for online and land-based gambling. 38% of all participants had used the internet to gamble in the previous four weeks, the same as in the November data, although the removal of those who only play lottery saw that number fall to 16%. In-person gambling participation also fell from 29% to 18% when lottery-only players were excluded.

The ..

March 1, 2024

Nevada gambling revenue hits $1.28bn in record-breaking January

Gambling revenue in Nevada edged up 0.8% year-on-year to $1.28bn (£1.01bn/€1.18bn) in January, the highest total on record for the opening month of the year.

Revenue was marginally higher than $1.27bn in January 2023 but 10.5% behind December’s $1.43bn haul.

Slots accounted for $885.9m of revenue in January, up 1.3% from last year. Some $567.2m of this came from multi-denomination slots, while penny slots drew $231.1m in revenue.

Table and card games decline hits Nevada

In contrast to this growth, table, counter and card games revenue dcelined 7.5% to $393.5m in January.

Blackjack was the primary source of revenue here, despite an 18.2% decline to $98.3m. Craps revenue slipped 19.4% to $32.0m and roulette 40.7% to $27.4m.

Baccarat was only one of four areas within this segment to post growth, with revenue up 8.0% to $98.0m. Pai Gow poker revenue jumped 125.5% to $11.2m, while “card games” revenue climbed 0.5% to $13.2m for the month.

American football betting drives sports wage..

February 29, 2024

Analysing the data: Breaking down Spain’s 2023 in numbers

Spain is rapidly emerging as one of Europe’s most exciting markets for growth. We take a look inside the numbers – with a positive 2023 for the country’s online gambling market.

The headline number from Spain’s Directorate General for the Regulation of Gambling (DGOJ) is the €1.24bn (£1.06bn/$1.35bn) in gross gambling revenue (GGR) for 2023, up year-on-year by well over a quarter at 28.4%.

Spain’s GGR has now increased every year since 2013 bar 2021. The 28.4% hike is the largest year-on-year rise since 2017.

Deposits and withdrawals rose by 15.5% and 10.1% respectively. The number of active gamblers also edged up by 2.7% to over 1.6 million.

Casino and betting on the rise in Spain

Of that €1.24bn in GGR, casino led the way with 50.5% of the total, accumulating €624.8m in revenue for 2023. Meanwhile, betting wasn’t far behind, accounting for 39.8% with €491.8m of GGR. Poker, bingo and contests then lagged behind with €115.3m, €14.4m and €480,000 respectively.

Looking at those num..

February 28, 2024

Betsson CEO Lindwall celebrates “record year for the group” and outlines 2024 plans

A record 2023 saw Betsson post higher revenues and EBITDA than ever before. With further global expansion on the cards, Betsson chief executive Pontus Lindwall believes it’s the company’s localised approach that will help them achieve further growth.

Revenues shot up by 22% to a record €948.2m (£811.3m/$1bn) for Betsson’s 2023 financial year. EBITDA also skyrocketed 52% to €262.7m from €172.4m in 2022. The year-end results were aided by a surge in Q4, one that saw group revenue hike by 14%.

Quite the set of results then for Betsson. According to Lindwall, the positive outlook for the company looks set to continue, both short- and long-term. The CEO is delighted with the group’s performance, comparing the operator to a well-oiled machine.

“Of course, we’re very happy with the outcome of 2023,” Lindwall told iGB. “It’s a record year by far for the group. It’s nice to finish off so strongly with the record quarter as well.

“I think we have a strategy that has played us well as we are ..

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Tag: Casino