Online casino Archives - Page 12 of 20

March 17, 2023

Spain: Sports betting drives 80% YoY revenue growth

Gross gambling revenue (GGR) in Spain increased by 78.2% year-on-year during the fourth quarter of 2022, driven by growth within the sports betting segment.

For the three-month period, GGR amounted to €313.3m (£274.7m/$334.2m), which was also 27.1% higher than €240.8m in the third quarter of 2022, according to figures published by Spanish regulator Directorate General for the Regulation of Gambling (DGOJ).

Breaking this down, sports betting GGR amounted to €141.4m, a 223.4% increase on the previous year (52.8% up quarter-on-quarter) and representing 45.1% of all GGR generated during the quarter.

The DGOJ noted a 108.5% quarter-on-quarter jump in pre-match bets and a 13.8% increase in in-play wagers, while other bettings were up 86.8% and horse betting 63.6%.

Turning to casino and GGR was 32.4% higher at €142.3m, up 32.4% year-on-year and 11.1% higher than in Q3. The sector accounted for 45.4% of total GGR in Q4, marginally ahead of sports betting.

Slots GGR was 27.3% higher than ..

March 14, 2023

Playtech acquires Hard Rock Digital stake in partnership deal

Playtech has purchased a minority equity ownership stake in Hard Rock Digital (HRD), the interactive gaming and sports betting division of Hard Rock International and Seminole Gaming, as part of a wider deal between the two businesses.

Playtech will pay $85.0m (£69.8m/€79.5m) for a low, single-digit percentage stake in HRD, with proceeds from the investment to fund HRD’s global expansion.

Hard Rock’s online and retail sports betting is currently operated in select US states including Arizona, Indiana, Iowa, New Jersey, Ohio, Tennessee and Virginia. It aims to extend its online sportsbook and igaming offerings to select international markets in the coming years.

Global supply deal

As part of the wider arrangement with Playtech, HRD will license a range of the developer’s technology solutions and igaming content.

In the US and Canada, HRD’s customers will be able to play a selection of Playtech’s slots, random number generator and live dealer table games through HRD’s existing pr..

February 22, 2023

Betsson launches Betsafe in Ontario following licence approvals

Betsson has announced the launch of its Betsafe brand in Ontario after it secured approval for operator and supplier licences in the Canadian province.

The B2C Betsafe offering in Ontario will include online casino and sports betting, with the brand to run on the Strive Gaming platform, which is part-owned by Betsson.

Players in the province will be able to gamble with Betsafe via native mobile apps and on the ot.betsafe.com local website.

Read the full story on iGB North America

February 20, 2023

Italy’s sports betting revenue dipped in the lead-up to the Fifa World Cup

Italy's igaming revenue in November dipped slightly to €322.5m in the lead-up to the Fifa World Cup, down from October’s revenue of €331.1m.

Since pushing past the €300m barrier in September 2022, Italy’s igaming revenue has remained relatively stable. Although November’s revenue of €322.5m does represent a 2.6% decline month-on-month, this is still a 6.0% increase year-on-year. The decline was mostly consistent across all verticals, although sports betting’s decline of 4.3% was the biggest drop for November, with revenue of €126.3m.

However, online sports betting still fared better than retail sports betting, which suffered a decline of 16.4% month-on-month, which is a decrease in revenue from €88.6m in October to €74.1m in November.

In contrast to the betting figures, casino revenues only dropped by 2.1% from €180.0m to €176.1m.

The market shares of online casino operators by GGR remained relatively stable in November, with Eurobet being the biggest mover as it was unable to..

February 15, 2023

FSB launches sports betting in Ontario with Fitzdares

B2B sportsbook and igaming service provider FSB has launched in the Canadian province of Ontario in partnership with long-term partner Fitzdares.

Under the arrangement, Fitzdares, which went live in the market earlier this month, is now running a sportsbook powered by FSB’s sports betting technology.

Fitzdares’ igaming offering is also being driven by FSB’s online casino aggregation product, while the bookmaker also has access to the FSB back office platform.

Read the full story on iGB North America

February 14, 2023

Delaware sports betting handle reaches $8.5m in January

Consumers in Delaware wagered $8.5m on sports during January, while igaming spend in the state reached $44.1m.

Sports handle was 1.2% higher than $8.4m in January last year and 3.7% ahead of $8.2m in December 2022.

Revenue for the month amounted to $1.6m, which was 114.7% higher year-on-year and 14.3% ahead of December.

Read the full story on iGB North America

January 26, 2023

Denmark breaks online casino revenue record as gambling grows in 2022

Denmark saw its gambling market grow in 2022, despite a drop in sports betting.

Spillemyndigheden, the Danish gambling authority, said total gross gaming revenue (GGR) for the year to 31 December 2022 came to DKK6.70bn ($991.4m/€910.1m/£799.8m), which was up 7.5% on the DKK6.23bn recorded in the previous year.

Online casino was the largest segment, comprising DKK2.88bn, which was up 2.1% on the 2021 figure. The segment was worth DKK272.3m in December, which was the largest amount since records began in 2012, and up 3.4% on December 2021.

The second largest segment, sports betting, was down 3.6% to DKK2.32bn despite the Fifa World Cup taking place during the year. December’s GGR figure of DKK135.5bn was the lowest return since October 2021 and down 35.0% on December 2021.

Slot machines generated DKK1.15bn in 2022, which was up considerably on the Covid-impacted 2021. Some DKK99.2m was taken in December 2022, up 44.5% on the same month in 2021.

Land-based casino also saw big gains i..

January 24, 2023

Michigan online gambling revenue reaches $1.98bn in 2022

Gross receipts from online sports betting and internet casino games in Michigan amounted to $1.98bn in 2022, a 41.4% year-on-year increase.

The yearly total, comprising gross receipts from both commercial and tribal operators in the state, was comfortably ahead of the $1.40bn figure posted during the first full year of legal online gambling in Michigan in 2021.

Of this total, $1.58bn came from online casino gaming, while internet sports wagering was responsible for $399.6m in gross receipts.

Read the full story on iGB North America

January 19, 2023

Pennsylvania smashes gambling revenue records in 2022

Pennsylvania set a number of new annual gambling revenue records during 2022, with total gaming revenue for the state reaching an all-time high of $5.21bn.

The yearly figure – comprising land-based slots, table games, sports betting, igaming, video gaming terminals (VGTs) and fantasy contests – was 10.2% higher than $4.73bn in 2021, according to the Pennsylvania Gaming Control Board (PGCB).

Retail slots were by far the primary source of revenue in Pennsylvania, generating $2.39bn worth of revenue, up 4.5% year-on-year. Land-based table games revenue was also 7.1% higher at $990.6m.

Read the full story on iGB North America

January 18, 2023

New Jersey gambling revenue matches $5.21bn record in 2022

Gambling revenue in New Jersey reached a joint-record $5.21bn in 2022, despite a decline in sports betting revenue.

Revenue was 10.0% higher than $4.74bn during the 2021 calendar year and on par with the record amount posted in 2006.

Land-based casino revenue accounted for $2.79bn of the total, up 9.0% on 2021 with slots revenue rising 9.0% to $2.04bn and table games revenue increasing 9.1% to $741.7m.

Read the full story on iGB North America

January 16, 2023

Delaware sports betting and igaming revenue increase in December

The Delaware Lottery reported year-on-year increases in both sports betting and igaming revenue in December.

Online gambling revenue during the month amounted to $1.2m, up 56.4% from $751,291 in December of 2021 and also 19.0% up from $987,423 in November 2022.

Some $890,894 of revenue in December was attributed to video lottery games, $243,899 to table games and the remaining $80,007 to poker rake and fees.

Read the full story on iGB North America

January 13, 2023

Kindred CEO: “No item is sacred” when it comes to cost-cutting

Henrik Tjärnström, CEO of Kindred, has said that “no item is sacred” in terms of cutting costs on an earnings call addressing Kindred’s Q4 trading update released earlier today (13 January).

Although Kindred’s Q4 revenue is projected to rise 24.5% year-on-year to £305.0m (€343.1m/$372.2m), Kindred said this was not up to expectations and vowed to take “immediate action”.

Addressing this, Tjärnström said that Kindred would review all areas of cost in order to improve spending for 2023, adding that no cost-cutting is off the table.

“We are looking to review all cost items for efficiency purposes and refreshing our channels for spending in 2023,” he said. “We cannot comment on the overall number at this point.

“But we’re clearly looking across the P&L [profit and loss], and no item is sacred in that sense.”

He said this was due to how vastly the Q4 revenue is set to depart from Kindred’s, and the market’s, expectations.

“We take this very seriously, and the deviation that we see fro..

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Tag: Online casino