Finance Archives - Page 10 of 25

October 13, 2023

Ontario igaming revenue more than doubles in Q2

Online gambling revenue in Ontario more than doubled year-on-year in Q2 to CA$540m (£324m/€375m/US$395m), while player spending in the Canadian province rocketed 132%.

Total igaming revenue in Ontario for the three months to 30 September was up 105% from $267m in Q2 of last year – the second full quarter since the regulated market opened in April 2022.

Of this total, $407m came from online casino activity in Ontario. A further $118m in revenue was generated from internet sports betting and $16m online poker. Revenue covers all cash wagers, rake fees, tournament fees and other fees, minus player winnings.

As for player spending, total igaming wagers in Q2 reached $14.20bn. This was significantly more than the $6.04bn spent during Q2 of last year.

Consumers spent $11.90bn on internet casino games, $1.90bn on sports betting and $397m online poker. Players spending does not include promotional wagers such as bonuses and free bets.

Ontario: an expanding igaming market

The figures, pub..

October 10, 2023

Colorado bounces back in August as sports betting handle hits $306.1m

Consumers in Colorado spent $306.1m betting on sports in August, an increase on the same month last year, while revenue was also higher.

Handle in Colorado was $15.5m ahead of $290.1m in August 2022. The monthly sports betting spend also surpassed the $281.1m wagered in July this year by 8.9%.

Players bet a total of $304.2m online during August, with the remaining $1.9m wagered via retail sportsbooks.

Baseball remained the most popular sport to wager on in Colorado, drawing $105.5m in bets. The state is home to Major League Baseball franchise the Colorado Rockies.

Tennis ranked second in terms of betting spend, with players wagering a total of $29.9m on the sport. Basketball followed with a $26.4m handle, while $53.5m was spent on parlay wagers in August.

Sports betting revenue remains level in Colorado

Turning to revenue, gross gaming revenue from sports wagering in August reached $25.9m. This was level with the same month last year and 3.6% ahead of the $25.0m generated in July..

October 10, 2023

Iowa sports betting handle jumps to $245.8m in September

Monthly sports betting handle in Iowa increased year-on-year to $245.8m in September but revenue in the Hawkeye State declined.

Players spending on sports betting in Iowa was 22.8% ahead of the $200.2m wagered in September 2022. The monthly handle was also 74.1% higher than $141.2m in August this year.

Of the total bet in September, $222.3m was spent online and $23.4m at retail sportsbooks across Iowa.

As for revenue, sports wagering net receipts for the month amounted to $24.1m. This was 5.1% lower than $25.4m in September last year but 78.5% more than $13.5m in August of 2023.

Online sports betting accounted for $20.9m of revenue in September and retail wagering $3.1m.

Diamond Jo Dubuque retains top spot in Iowa

Looking to individual operators, Diamond Jo in Dubuque and partner FanDuel remain out on front in Iowa. The partnership heralded $6.0m in revenue from $52.6m in total wagers in September.

Wild Rose in Jefferson and partner DraftKings placed second with $3.4m in revenue..

October 9, 2023

New York mobile sports betting revenue hits record $165.6m in September

Mobile sports betting revenue in New York reached a record $165.6m in September while handle hit a six-month high of $1.76bn.

Revenue was up 15.6% from $143.3m in New York in September 2022 and 68.1% more than $98.5m in August this year. This is according to figures published by the New York State Gaming Commission.

Handle also increased year-on-year. The total $1.76bn spent was 39.7% higher than $1.26bn in September 2022 and 58.6% ahead of $1.11bn in August 2023.

Spending reached its highest monthly amount since $1.79bn was wagered in New York in March.

FanDuel remains ahead of DraftKings in New York

Flutter Entertainment-owned FanDuel retained top spot in revenue terms in New York. It posted $76.9m in gross gaming revenue (GGR) in September and processed $682.5m in mobile wagers.

Long-term rival DraftKings placed second with GGR of $61.4m and a superior handle of $710.5m – the highest in the state.

Caesars was next in line with $12.6m in GGR and a $174.0m handle. BetMGM follow..

October 3, 2023

Mobile gaming dashboard powered by H2

iGB’s principal data partner H2 Gambling Capital provides headline metrics on the global mobile igaming market, with forecasts now extended to 2028.

Last updated 03/10/2023

October 3, 2023

Rhode Island sports betting revenue declines in August

Sports betting revenue in Rhode Island slipped to $1.4m in August while the state’s handle was also down month-on-month and year-on-year.

Revenue was 53.3% lower than $3.0m in August 2022 and 26.3% behind $1.9m in July this year. This is according to data from the Rhode Island Lottery.

Of this total, mobile betting accounted for $1.2m of all revenue, with $144,099 coming from the retail market. Twin River’s revenue hit $234,649 but a $90,550 loss from Tiverton Casino pushed the total retail figure down.

Sports betting handle hits $22.5m

Turning to player spending and sports betting, handle in Rhode Island for the month reached $22.5m. This was 18.8% lower than $27.7m last year but 11.4% more than $20.2m in July of this year.

Consumers wagered $17.7m online and $4.8m at retail sportsbooks in the two-month period. Twin River took $2.8m in bets at its retail betting facility while Tiverton Casino took $1.9m.

Looking at the state’s performance in its financial year to date, revenue c..

October 2, 2023

Nevada gambling revenue level year-on-year at $1.21bn in August

Gambling revenue in Nevada remained level year-on-year in August at $1.21bn, although the US state reported a month-on-month decline.

Revenue was in line with the $1.21bn posted in August 2022. However, this was 14.3% lower than $1.40bn in July in Nevada this year.

Slots drew $829.2m of all revenue in August, down 2.1% on last year. Multi-denomination slot games generated $479.3m in revenue and penny slots $256.9m.

Elsewhere table, counter and card games revenue increased 5.2% to $380.1m. Baccarat led the way with revenue of $116.2m, some 21.0% ahead of $96.7m in August 2022.

Blackjack was the next highest source of revenue across table, counter and card games at $99.1m, down marginally from $100.0m in the previous year. Roulette revenue jumped 20.5% to $39.9m but craps revenue slipped 7.4% to $36.2m.

Nevada sports betting revenue up 12.4%

Turning to sports betting, revenue from sports pool wagering jumped 12.4% to $18.1m. All sports betting is reported as part of table, counter ..

September 27, 2023

Portugal online gambling revenue reaches record €205.9m in Q2

Online gambling revenue in Portugal amounted to a record €205.9m (£179.1m/$217.5m) in the second quarter, driven by growth within the internet casino segment.

Revenue was comfortably higher than €145.2m in Q2 of 2022. The figure was also up 4.9% on the existing record of €196.4m set in Q1 this year.

Online games of chance accounted for €122.0m of all revenue in the quarter, up 51.6% on last year. This was a new record for the segment, according to regulator the Gaming Regulation and Inspection Service (SRIJ).

Players spent €3.24bn on internet casino games during Q1, another new record for Portugal. Slot machines drew 82.5% of all online casino spend, with French roulette at 7.6% and then blackjack on 5.4%.

Turning to sports betting, revenue in this sector reached €84.0m, up 29.8% on 2022 but a slight drop from Q1 this year.

Consumer spending on sports betting reached €357.6m during the quarter. This was 17.1% more than the same period last year but 19.0% lower than in Q2. It was a..

September 27, 2023

Arizona sports betting spend hits $323.2m in July

Sports betting spend in Arizona fell for the fourth consecutive month in July to $323.2m, although this was up 11.3% year-on-year.

Monthly handle in Arizona was higher than $290.5m in July last year. However, player spend on sports betting was 17.8% less than $393.2m in June this year.

Of this total, $320.2m was wagered online, while the remaining $2.4m was spent betting at retail sportsbooks across Arizona.

Consumers won a total of $287.9m from sports betting in July. This left $34.6m in adjusted gross event wagering revenue before free bets, up 38.4% on last year and 24.9% ahead of June.

Revenue from online sports betting hit $34.3m, while retail’s shared amounted to $151,222 for the month of July.

Almost $8.0m worth of free bets issued in Arizona

When discounting $7.7m in free bets and promotional credits – almost entirely from online betting – adjusted gross revenue hit $26.8m. This was up 78.7% from $15.0m in July 2022 and 63.4% higher than $16.4m in June this year.

Online ..

September 25, 2023

New Hampshire reveals year-on-year sports betting decline in August

Sports betting revenue and handle in New Hampshire both declined year-on-year during August, although player spending was higher month-on-month.

Handle in New Hampshire reached $38.8m in August, down 10.6% from $43.4m for the same month in 2023. However, the total was 5.2% more than the $36.9m spent on sports betting in July this year.

Some $34.8m was spent betting online with DraftKings and $4.0m at retail sportsbooks in the state. DraftKings secured exclusive rights to offer sports betting online via the New Hampshire Lottery in November 2019.

As for gross gaming revenue, this was down both year-on-year and month-on-month in the state.

For August, revenue amounted to $3.4m, a drop of 19.1% from $4.2m last year and 2.9% behind $3.5m in July. Online betting accounted for $3.1m of revenue, with retail’s share at $270,235.

It was also revealed that New Hampshire collected $1.5m in sports betting tax in August.

Year-to-date sports betting spend surpasses $75.0m in New Hampshire

Loo..

September 25, 2023

Entain online revenue fails to meet expectations in Q3

Safer gambling measures, slower growth in key markets and sporting results hindered Entain's Q3 performance, although the group remains on track to hit EBITDA guidance.

In a trading update, Entain says online net gaming revenue (NGR) has been mixed across the group in recent weeks. While it still expects to achieve growth during Q3, Entain says that, on aggregate, this will be softer than anticipated.

Third quarter online NGR growth is now expected to rise by a high single-digit percent. However, Entain also says it will likely decline by a high single digit percent on a pro forma basis.

Reasons for this, Entain says, include adverse sports results impacting sports margins during September and slower growth than expected in Australia and Italy. It also noted the impact of safer gambling measures across the group and ongoing regulatory headwinds persisting longer than expected, particularly in the UK.

However, Entain also noted drivers of growth within its online business. The..

September 21, 2023

Spanish gambling revenue up 55.1% year-on-year to €312.6m in Q2

Gross gambling revenue in the second quarter in Spain hiked 55.1% year-on-year to €312.6m (£207.0m/$332.6m), with revenue from sports betting more than doubling.

Total revenue in the second quarter was comfortably ahead of last year and also 2.5% higher than €313.3m in Q1. Data for the three-month period has been released by Spain’s regulator, the Directorate General for the Regulation of Gambling (DGOJ).

Casino generated the most GGR in Q2 – €149.9m, up 27.9% from last year and 4.5% ahead of Q1.

Slot machine revenue increased by 29.9% year-on-year, while live roulette GGR was 8.9% higher.

Spanish sports betting revenue rockets in Q2

The sports betting segment reported the largest percentage of growth during the quarter. In the three-month period, GGR reached €133.3m, up 118.9% from last year.

Pre-event sports bet GGR was 1.8% higher than in Q2 and live betting GGR also increased by 3.5%. Horse riding bets jumped 22.7% but other sports bets GGR slipped 15.1%.

Elsewhere, poker G..

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Tag: Finance