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March 20, 2025

Penn in peril? theScore founder says “execution”, “unified approach” lacking for ESPN Bet

With the future of ESPN Bet seemingly in question, criticism of Penn Entertainment is coming from many corners.

Ever since Penn Entertainment CEO Jay Snowden in late February addressed the idea that his company or ESPN could exit their 10-year deal for ESPN Bet in 2026, the wagering world has been raining negatives. Some analysts have downgraded Penn stock and, on 18 March, the founder of theScore and theScoreBet had his say.

Prior to that, two investors had accused Penn of mismanaging its interactive strategy. In May 2024, the Donerail Group said “guidance misses” by Penn executives had “damaged the credibility of the management team and board of directors”. And in January, HG Vora accused the company of “reckless spending” on digital projects.

John Levy was the founder of theScore and theScoreBet, which Snowden called a “very good story for us in Canada” as a result of Penn acquiring them in 2021. Levy, however, this month shared his not-so-warm-and-fuzzy thoughts about his compan..

March 19, 2025

Sports betting decline hits Pennsylvania gambling revenue in February

Gambling revenue in Pennsylvania declined 4.4% year-on-year in February, with the state’s sports betting market slipping to its lowest monthly revenue total in three years.

Total commercial gaming revenue in Pennsylvania hit $477.3 million (£367.9 million/€437.6 million). This was short of $499.1 million in February last year and also 9.8% behind January 2025.

Sports betting operators struggle

Breaking down data published yesterday (18 March) by the Pennsylvania Gaming Control Board, the standout figure is another drop in sports betting revenue. The sector has now seen revenue decline for three consecutive months, although February’s drop is perhaps the most striking.

Gross sports betting revenue was just $7.4 million, down 75.3% and the lowest since February 2022 when a $442,847 loss was recorded. Online wagering actually generated $10.4 million in revenue, but a $2.9 million loss from the retail market led to the overall figure being lower.

The decline came despite a 14.4% incre..

March 18, 2025

New Jersey: igaming draws most gambling revenue again in February

Igaming was once again the main source of gambling revenue in New Jersey during February, while overall market revenue in the Garden State increased 5.1% year-on-year.

Total monthly revenue reached $484.8 million (£373.5 million/€444 million). This beats February 2024 but was 12.5% behind January this year, the New Jersey Division of Gaming Enforcement (NJDGE) reports.

Growth was apparent across two of the state’s three core markets, with both igaming and sports betting seeing increases. This was only partially offset by a drop in land-based casino revenue.

Igaming revenue rises 14% in New Jersey

Starting with the primary source of revenue, igaming, revenue increased 14% year-on-year to $207.8 million. This was only the third time that igaming drew the most gambling revenue in a single month in New Jersey.

Breaking this down, $205.4 million came from “other authorised games”, including slots, up 14% from last year. The other $2.4 million was attributed to peer-to-peer poker, a ris..

March 10, 2025

Weekend Report: Sports betting subscription services potential, Choctaws make crypto casino move, Gaming Corps pens Oddsworks deal

Welcome to the Weekend Report, where iGB looks at the news that you may have missed across Friday, Saturday and Sunday. This week: sports betting subscription services potential, Choctaws eye cryptocurrency in Oklahoma casinos and Gaming Corps targets North America growth with Oddsworks deal.

YouGov: Potential for igaming subscription services

Up first this week, a new survey has highlighted the potential for sports betting subscription services.

Published by YouGov, the report found that a significant number of bettors would consider paying for a subscription. Of those surveyed, 22% said they would be “very likely” to join some form of subscription service.

A further 43% said that would be “somewhat likely” to subscribe, with 44% of those within this category aged 18-34. In comparison, only 18% of bettors were “not at all likely” to sign up, with 10% “not very likely”.

As for why consumers may be interested, 46% said this was due to the opportunity to access exclusive promotions ..

February 28, 2025

Strip comes roaring back as Nevada posts second-best month ever in January

This year kicked off with a bang for Nevada gaming, as the state posted its second-best monthly total ever, led by the Las Vegas Strip.

According to Nevada Gaming Control Board data released on Thursday (27 February), the state posted $1.43 billion (£1.13 billion/€1.38 billion) in gross gaming revenue (GGR) in January. That is a 12.5% year-on-year increase and the second-highest monthly total ever, behind last December’s $1.46 billion. The Silver State is now flat for the fiscal year to date.

In welcome news for the industry, the Las Vegas Strip bucked its streak of six straight months of YoY decreases. America’s gaming capital posted $840 million in GGR, up 22.4% from last year. January was its third-best month of all time, behind the two previous Decembers ($905 million in 2023, $881.2 million in 2024). This strong result was enough to bring the Strip up to -1.6% for the FY so far, despite the down months.

In a reversal of previous trends, downtown Las Vegas posted a 2% YoY dec..

February 26, 2025

Caesars slips to FY24 net loss, remains confident about digital EBITDA target

Caesars Entertainment reported a net loss during its 2024 financial year after a drop in group revenue, but the gambling giant remains confident of long-term earnings goals for its digital arm after the division reported further growth.

Group revenue for the 12 months through to 31 December 2024 topped $11.2 billion (£8.89 billion/€10.71 billion). This is 2.5% lower than the previous year, according to data published yesterday (25 February) by Caesars.

Caesars attributed this primarily to its Las Vegas and regional segments, with both divisions seeing declines in 2024. Managed and branded revenue was also down, although there was some positive news from the digital segment.

Revenue from the digital business, which comprises igaming and online sports betting, was up 19.5%. This continues an upward trend seen in recent years, but the trajectory was not as high as seen in 2023 (77.6%).

Caesars: Digital EBITDA to reach $500 million in 2025

While digital growth may not have been quite ..

February 21, 2025

Pennsylvania gambling revenue up in January despite sports betting decline

Gambling revenue in Pennsylvania increased 10.9% year-on-year during January despite the state’s sports betting market reporting further declines.

Total market revenue in January amounted to $529.1 million (£417.8 million/€504.7 million). This, according to figures published yesterday (20 February) by the Pennsylvania Gaming Control Board, surpasses $477.2 million in January 2024.

This total does, however, fall 0.8% short of the $533.1 million generated in December.

Online gambling the star of the show in Pennsylvania

Starting with online gambling, revenue here climbed 40.5% year-on-year to $210.2 million. This, however, falls short of the record $223.6 million reported in December last year.

Online slots drew the most revenue in this sector, with the $158.6 million being 44.2% ahead of last year. Internet table games revenue also climbed 32.7% to $48.9million, although online poker revenue dipped 2.3% to $2.6 million.

Spending-wise, consumers wagered some $4.23 billion on online..

February 21, 2025

Massachusetts smashes sports betting revenue record in January

Sports betting revenue in Massachusetts reached a record $94.4 million (£74.6 million/€90.2 million) in January, while monthly handle hit its third-highest monthly total since the state opened its legal market.

Gross gaming revenue for the month was 32.8% higher than the $71.1 million reported in January last year. It also far exceeds the existing Massachusetts monthly record – $75.4 million in September 2024 – by 25.2%.

Data published yesterday (20 February) by the Massachusetts Gaming Commission reveals online sports betting revenue totalled $93.6 million in January. Retail betting also generated $778,953 in monthly revenue.

Incidentally, this bucks the trend of sports betting struggles seen in the industry during January. Pennsylvania, which also posted monthly revenue figures yesterday, reported a 26.4% year-on-year drop in betting revenue.

As for handle, player spending totalled $762.5 million, which beats last year by 17.0%. It is also only 3.3% behind December’s record $788…

February 21, 2025

Sweden gambling revenue edges up to SEK27.85 billion in 2024

Gambling revenue in Sweden increased 2.65% year-on-year during 2024, driven by growth within the country’s commercial online gaming market.

Total gambling revenue in the 12 months to 31 December 2024 hit SEK27.85 billion (£2.07 billion/€2.49 billion/$2.62 billion). This surpasses the SEK27.13 billion reported in Sweden in the previous year.

Figures published by regulator Spelinspektionen yesterday (20 February) highlight igaming as the stand-out market in Sweden. During the 12-month period, online gambling generated SEK17.84 billion in total revenue, an increase of 5.0% from the 2023 total.

Annual revenue from state lottery and slots also increased 2.2% year-on-year to SEK5.72 billion. On top of this, non-profit games and national lotteries revenue climbed 2.6% to SEK3.70 billion.

Casino Cosmopol closures impact clear to see in Sweden

In other parts of the market, the news was somewhat mixed. Land-based commercial gaming, such as restaurant casinos, saw revenue increase by 4.0% to..

February 19, 2025

AGA reports YoY growth, CEO addresses cannibalism, calls for Trump administration to tamp down black market

The American Gaming Association (AGA) reported another record year for gambling, as both traditional and online sectors posted growth, despite some declines in the last quarter attributed to sports betting and favourable game results.

In the AGA’s State of the Industry 2025 report published today (19 February), annual gaming revenue grew for the fourth consecutive year to $71.92 billion (£57.13 billion/€69 billion), up 7.5% year-on-year.

The AGA expects that when tribal gaming revenue is reported by the National Indian Gaming Commission (NIGC) later in the year, total US gaming revenue for 2024 will “approach” $115 billion.

Slot-machine revenue in 2024 was $36.06 billion, an increase of 1.6%. Table-game revenue fell by 1.7% over the course of the year to $10.14 billion. In total, traditional casino slots and table games took in $49.78 billion.

In-person gaming, consisting of casino slots, tables and retail sports betting, accounted for $50.32 billion of industry revenue last year.
..

February 17, 2025

New Jersey igaming up in January, online betting slips 29%

Igaming continued on its growth trajectory in New Jersey in January, while sports betting took a hit compared to the previous year's revenue.

Total gambling revenue in New Jersey hit $553.9 million (£439.6 million/€528.1 million). This is 0.9% behind January last year but 6.% ahead of December.

New Jersey Division of Gaming Enforcement (NJDGE) figures filed on 14 February show the year-on-year fall was due to a decline in sports betting. Igaming, on the other hand, continues to go from strength to strength.

For January, igaming revenue topped $221.6 million. This beats last year by 20.9% and falls just 2.8% short of December’s $228 million record. However, it was only the second time igaming drew the highest gambling revenue in a single month, after the feat was first achieved in October 2024.

Breaking down igaming, ‘other authorised games’, including slots, drew $218.9 million, up 21.1%. Online poker revenue also increased by 8.1% to $2.7 million.

FanDuel and Golden Nugget..

February 14, 2025

State of the Union: Mississippi senate bans sweeps, MGCB comes down on illegal operators

Welcome to iGB's State of the Union, a look at the biggest North American sports betting stories we've covered over the week and briefs on others we found interesting.

Mississippi senate approves sweeps ban

Mississippi lawmakers on Tuesday (11 February) became the first state in the nation to take decisive action in terms of banning digital sweepstakes. The state senate passed SB 2510, 44-1. The bill will now go to the house. The bill bans “online sweepstakes casino-style games” and operators would be fined $100,000 (£79,000/€95,000) per violation and could serve up to 10 years in prison. The level of crime was elevated from a misdemeanour to a felony.

The bill would also ban online racebooks and online sports pools. Brick-and-mortar casinos and sportsbooks and horse race tracks are legal throughout the state, but no form of digital gambling, including online casino, is.

Earlier in the session, HB 1302, which would allow for statewide digital sports betting, passed out t..

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Tag: Casino