Gaming Archives

February 23, 2024

Fanatics launches online sports betting and casino in Michigan

Fanatics Betting and Gaming (FBG) has announced the launch of its online sportsbook and casino in the state of Michigan.

Players in Michigan can now access both the Fanatics Sportsbook and Fanatics Casino. The online casino offering has been embedded in the sportsbook app.

Fanatics Sportsbook replaces the PointsBet brand in Michigan. Existing PointsBet customers’ username, password, account balance, rewards points and responsible gaming settings will automatically be migrated to the Fanatics platform.

FBG has been phasing out the PointsBet brand across the US following its acquisition of PointsBet US in August 2023.

Fanatics fended off DraftKings with improved PointsBet US bid

Michigan marks the 13th state in which FBG has launched its Fanatics Sportsbook. It is also live in Colorado, Connecticut, Iowa, Kentucky, Maryland, Massachusetts, Ohio, Pennsylvania, Tennessee, Vermont, Virginia and West Virginia. In addition, retail betting venues operate in both Pennsylvania and West Vi..

February 22, 2024

Michigan igaming revenue reaches record $181.9m in January

Gross igaming revenue in Michigan hit a new monthly high of $181.9m (£143.7m/€167.7m) in January, while the state’s entire online gambling market grew year-on-year.

Total gross online gambling revenue, comprising igaming and sports betting, amounted to $229.6m. This was 22.6% ahead of $187.3m in Michigan last January but 5.3% less than December’s $242.5m record for total gambling revenue.

Figures include licensed commercial and tribal igaming operators in Michigan.

Gross igaming revenue was 18.4% higher year-on-year, surpassing the $153.7m reported in January 2023. The total also narrowly beat the existing monthly record of $181.4m set in December.

Turning to sports betting, gross receipts here reached $47.7m. This was 40.7% higher than $33.9m in the same month last year but 21.9% less than December’s $61.1m. As for handle, the $577.4m wagered in January was 21.4% higher than in the previous year.

In terms of adjusted gross receipts (AGR), which account for promotional deductions..

February 21, 2024

Pennsylvania gambling revenue edges up year-on-year in January

Overall gambling revenue in the state of Pennsylvania increased by 2.7% year-on-year to $477.2m (£378.1m/€441.9m) in January.

Revenue was up from $464.4m in January 2023 but 10.7% behind the $534.2m generated in Pennsylvania in December. This revenue comprises land-based slot and table games, online gambling sports betting, video lottery terminals (VLTs) and fantasy sports.

Physical slots remain the primary source of gambling revenue in Pennsylvania at $179.5m, down 11.2% year-on-year. Land-based table games revenue also slipped 13.4% to $72.7m.

Revenue was 10.7% lower than December 2023

Slots drive online gambling growth in Pennsylvania

In contrast, the Pennsylvania online gambling sector reported more growth. During January, revenue from igaming amounted to $149.6m, up 12.4% from last year.

Online slots revenue reached $110.0m, a rise of 22.0%. However, online table game revenue fell 7.8% to €36.9m, while internet poker revenue was almost level at $2.7m.

Hollywood Casino at P..

February 21, 2024

US gaming revenue tops $66.5bn for third consecutive record year

The American Gaming Association (AGA) has revealed US gross gaming revenue (GGR) reached an all-time high of $66.5bn (£52.7bn/€61.6bn) in 2023, the market’s third straight record year.

2023’s total was a 10% hike on 2022’s figure of $60.4bn, which in turn was a significant increase on the $53bn accumulated in 2021.

The strong numbers were aided by a record Q4. This included an all-time high quarterly revenue of $17.4bn, while a record $6.2bn in revenue was generated.

Land-based casinos continue to perform well with a record GGR of $49.4bn in 2023. This was up 3.3% year-on-year, with 19 of the 27 traditional gaming markets recording all-time highs in annual revenue.

Sports betting also demonstrated impressive growth, with $119.8bn in handle and $10.9bn in revenue – both records. These figures were up 27.8% and 44.5% respectively year-on-year.

With the National Indian Gaming Commission’s addition of tribal gaming revenue coming later this year, the US’ total GGR for 2023 is expected..

February 20, 2024

Igaming dashboard powered by H2

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

Last updated 03/10/2023

February 19, 2024

New Jersey smashes gambling revenue records in January

New Jersey has reported a strong start to 2024, with igaming revenue hitting an all-time high and sports betting revenue and handle reaching new monthly records in January.

Total gambling revenue in New Jersey for January reached $559.1m (£442.9m/€518.4m). This was 28.0% ahead of $436.9m in January 2023 and 7.1% higher than $522.2m in December last year.

Land-based casinos remain the primary source of gambling revenue in New Jersey. During January, revenue here stood at $205.0m, down 3.1% year-on-year.

Physical slots, traditionally one of the main money-makers in New Jersey, saw revenue slip by 5.8% to $143.0m. However, land-based table games revenue edged up 3.7% to $62.1m.

total gambling revenue was 7.1% higher than the $522.2m recorded in december last year

Igaming closes the land-based gap with record January

While the land-based market faltered in January, the situation in igaming could not be more different. Revenue from igaming in New Jersey reached $183.3m, up 19.9% year..

February 15, 2024

Connecticut report says 1.8% of state residents suffer from problem gambling

A study has found 67.8% of Connecticut residents consider the current availability of gambling in the state to be “fine”.

The study, carried out by the Connecticut Department of Mental Health and Addiction Services, revealed a general ambivalence towards gambling in the state, with 93.5% rating the recreational activity as “not at all” or “not very” important.

Over two-thirds (67.2%) of the over 5,000 residents surveyed believe the risk of gambling harm outweighs the benefits. Meanwhile, 69.2% pointed to addiction as the biggest risk of legalised gambling in Connecticut.

However, 70.8% believe the responsibility for minimising gambling harms falls between gamblers and providers, while 68.7% have no opinion over the integrity and fairness of how gambling is offered in Connecticut. Just 17.3% are dissatisfied with the Connecticut government’s ability to minimise gambling harms.

Of the positives of legalised gambling, employment and increased government revenue led the way with 21.6% ..

February 15, 2024

FDJ reports “solid” 6.5% year-on-year revenue growth for 2023

La Française des Jeux (FDJ) has reported a 6.5% year-on-year growth in revenue to €2.62bn (£2.24bn/$2.81bn) for its 2023 financial year.

FDJ attributed the “solid” growth in revenue to momentum in its sports betting and online gaming sectors. This was evidenced by an 18.8% increase in its net gaming revenue (NGR), becoming almost 13% of the group’s NGR.

FDJ’s 2023 report came in the wake of the group submitting an offer worth SEK27.96bn (£2.10bn/€2.45bn/$2.67bn) to acquire the entire outstanding share capital of Kindred Group in January.

During 2023, FDJ’s net profit rocketed by 38% to €425m, from 2022’s figure of €307.9m. Recurring operating income shot up from €459m to €532m, again a sizeable rise of 15.8%.

Despite the rise in revenue, the 6.5% revenue hike fell behind the 9.1% increase to $2.46bn reported last year. The previous year’s success was largely powered by an 11% jump in lottery. Interestingly, this was while the lottery sector only grew by 4.9% in 2023.

FDJ recorded ..

February 14, 2024

Detroit casino revenue down 8.8% year-on-year

Detroit, Michigan's three casinos recorded $94.4m (£75.2m/ €88.0m) in revenue for January.

This marked a dip of 8.8% from January 2023. In total, $93.9m came from table games and slots, while $500,221 was generated by retail sports betting.

The overall revenue also fell month-on-month, trickling down by 18.8% from Detroit’s December report.

In terms of market share, MGM held 48% in January. MotorCity held 30%, while Hollywood Casino at Greektown took up 22%.

Table games and slots revenue

Looking at revenue from table games and slots specifically, it fell by 9.1% compared to January 2023 and 15.7% from December 2023.

Detroit’s casinos also recorded drops in gaming revenue year-on-year. Revenue at MGM decreased by 11.3% compared to January 2023, while revenue at MotorCity dipped 10.4% to $27.1m. Hollywood Casino at Greektown recorded a dip of 2.0% to $22.2m.

Things were similar when looking at the month-on-month comparisons. MGM gaming revenue fell 11.8% and MotorCity gaming ..

February 1, 2024

Macau’s January revenue of MOP19.3bn nearly breaks post-Covid record

Macau generated MOP19.3bn (£1.9bn/€2.2bn/$2.4bn) in revenue in January, its second highest figure since reopening following the Covid-19 pandemic.

Only Macau’s October 2023 revenue number of MOP19.5bn surpassed the first month of 2024, a strong start to the year and with the Chinese New Year just around the corner.

January’s GGR was a hefty 67% increase on the same month last year, while it was also a 4.1% hike on December 2023.

Despite the figures, Macau’s January GGR still fell 14.4% behind the MOP22.1bn recorded in the final January before the pandemic started.

Macau’s Covid recovery expected to continue

Macau’s response to the devastating Covid-19 lockdown has been impressive, with 2023’s cumulative gross income of MOP183.1bn a 333.8% year-on-year increase. While that is still just 59.8% of the final full year before Covid, the growth seen since the easing of lockdown restrictions is expected to continue.

macau has flourished since the easing of most lockdown restrictions in ..

February 1, 2024

PointsBet reports record net win of AU$69.9m for Q2 FY24

PointsBet has recorded a record net win quarter of AU$69.9m (£36.2m/€42.5m/$46.1m) for its Q2 financial year 2024.

Total net win for Q2 was AU$59.5m, up 3% on the previous year. PointsBet put this down to continued improvements in promotions efficiency, with marketing expense 33% lower than the previous year.

Having gone live in Ontario when the market launched in April 2022, PointsBet reported a total net win of $10.5m in Canada, again a record quarter.

Total handle across all operations was AU$976.4m, down 4% on the previous year. Gross win also fell to AU$94.4m from Q2 FY23’s figure of AU$97m.

Igaming saw significant growth, with a net win of AU$6.4m, up 119% from the previous Q2’s AU$2.9m. This was attributed to its integration of the platform provider Strive, which it says will “increase game and promotional offerings”.

In its report, PointsBet pointed to Strive’s key benefits. These include “enhanced acquisition of casino-first customers”, which will deliver higher gross win..

January 25, 2024

IBIA partnership with Norway signals end of monopoly

The International Betting Integrity Association (IBIA) and the Norwegian Industry Association for Online Gaming (NBO) have agreed a Memorandum of Understanding (MoU) to collaborate on regulation and betting integrity.

The organisations will work to establish a framework for cooperation to promote a safe and effective licensing and regulatory regime. Both the IBIA and Norway-facing NBO will work on specific betting integrity provisions.

The partnership comes with both the IBIA and NBO urging Norway to withdraw its gambling monopoly system. At present, Norsk Tipping has rights to online casino gaming and sports betting, while Norsk Rikstoto covers horse racing.

the european gaming and betting association has previously called on norway to end its monopoly system

However, Norway faces calls to drop this system and open up licensing to other approved operators. The European Gaming and Betting Association (EGBA) is among several other organisations backing such a move.

Norway remain..

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Tag: Gaming