Casino – Page 3 – FairOdds Network

February 14, 2025

Denmark gambling revenue rises to DKK7.27 billion in 2024

Gross gambling revenue in Denmark increased 6.9% year-on-year during 2024, mainly due to a double-digit rise within the country’s online casino market.

Revenue in Denmark hit DKK7.27 billion (£811.2 million/€974.1 million/$1.02 billion) in the 12 months to 31 December 2024. This surpasses the DKK6.80 billion posted in the previous year.

Data published yesterday (13 February) by regulator Spillemyndigheden shows online casino was the main source of revenue by some margin. In total, revenue from online casino in 2024 topped DKK3.53 billion, up 14.7% on 2023.

Slots accounted for 78.2% of all online casino revenue during the year. Blackjack drew 6.7% of revenue and roulette 6.4%. Remaining revenue was spread across poker, bingo and other games.

Sports betting and casinos revenue up, slots decline

As for other sectors of the market, there was mixed news in Denmark. Sports betting ranked second in terms of total revenue, with this rising 1.2% year-on-year to DKK2.21 billion.

Mobile acc..

February 14, 2025

ATG CEO urges Swedish government to lower gambling tax for betting

Hasse Lord Skarplöth, chief executive of Swedish horse racing monopoly AB Trav och Galopp (ATG), has urged the government to drop its gambling tax for betting, following disappointing results in 2024.

Looking to how ATG performed in 2024, revenue for the 12 months to 31 December 2024 amounted to SEK6.19 billion (£459 million/€551 million/$577 million). This is 2.5% above the previous year. Net gaming revenue was largely flat, up 1.7% to SEK5.36 billion.

Revenue growth was enough to push operating profit up 1.4% to SEK1.81 billion for the 12-month period. After also including financial items, pre-tax profit topped SEK1.87 billion, up 1.8% year-on-year.

In ATG’s full-year presentation, published today (14 February), Skarplöth said growth could have been much greater had it not been impacted by Sweden’s gambling tax increase, which came into force in July.

Skarplöth said the recession, high household costs and higher interest rates had also hit ATG revenue in 2024.

Skarplöth urges re..

February 13, 2025

China drives MGM Resorts to record revenue in 2024, digital up 28% as betting platform launch is imminent

MGM Resorts International posted a record $17.24 billion (£13.80 billion/€16.53 billion) in consolidated net revenue during its 2024 financial year, driven once again by growth within its China-facing business.

Total revenue for 2024 surpassed the $16.16 billion reported during the previous year by 6.7%. It is also the highest annual amount ever posted by MGM, the operator confirmed yesterday (12 February).

Revenue was flat across two of MGM’s four core divisions – Las Vegas Strip Resorts and Regional Operations. However, significant growth in China, accompanied by a similar increase in digital revenue, pushed the yearly total up.

“We are proud to report the best full-year consolidated net revenues in the history of the company,” CEO Bill Hornbuckle said. “This was driven by a record performance from MGM China. We’re also encouraged by the strong demand we’re seeing in the business so far in 2025, which positions us well for continued growth.”

MGM China revenue rises 27.6%

The sta..

February 12, 2025

Stake to cease UK operations amid Gambling Commission investigation

Stake will exit the UK market next month amid a Gambling Commission investigation into social media advertising from the operator.

The Gambling Commission made the announcement today (12 February) with TGP Europe Limited (TGP), which operates Stake in the UK on a white-label basis, stating they will shut the site down.

The Gambling Commission has launched an investigation into a video distributed widely on social media that displayed Stake’s logo. The video featured an adult entertainment actress outside Nottingham Trent University.

After meeting with the Commission, TGP said it will immediately stop accepting new registrations to Stake’s UK platform and will remove any redirection links to the main Stake website. TGP will complete a full shutdown of the site by 11 March.

TGP has already faced regulatory scrutiny in the UK after being fined £316,250 (€379,430/$393,951) by the Gambling Commission in April 2023 for anti-money laundering (AML) and social responsibility failures.

“Whe..

February 5, 2025

After IPI disaster, has CNMI abandoned land-based casino hopes?

The Commonwealth of the Northern Mariana Islands (CNMI) is drafting legislation that would dissolve its gaming commission. The Pacific island group is looking at igaming as a next step.

On 4 February, CNMI representative Ralph N Yumul told Marianas Variety that a house committee is reviewing the 2014 statutes which legalised gaming and established the Commonwealth Casino Commission (CCC).

If enacted, the move would transfer the regulator’s enforcement powers to the lottery commission. At that point, Yamul said, the CCC “will not be in existence anymore”.

Committee members are also looking at online gaming and “marketing it out to the world”, Yamul said. The CCC “can’t do its job anymore”, he added, “because it’s tied with the only casino licensee in the CNMI.”

And its experience with that licensee, Imperial Pacific International (IPI), has been nothing short of disastrous.

Ten years ago, IPI opened a temporary casino, called Best Sunshine Live, inside a shopping mall on Saipan, th..

February 3, 2025

In rare occurrence, Nevada gaming positive in December, YoY despite Strip decline

The latest round of data from the Nevada Gaming Control Board, released on 30 January, showed that the state's gaming industry was positive year-over-year for December and 2024 as a whole, despite Strip declines for each.

The Nevada December revenue report showed that gross gaming revenue (GGR) totalled $1.46 billion (£1.17 billion/€1.4 billion) for the month, up 2% from last year. For 2024, the total was $15.6 billion, a slight (+0.55%) uptick from calendar year 2023. That represents the fourth consecutive record-setting calendar year for the Silver State, following the drudges of the 2020 Covid pandemic.

But perhaps the most interesting thing about those increases was that they came despite declines from the Las Vegas Strip, the economic driver of the state. In December, the Strip posted $881.2 million in GGR, down 2.6% YoY, its sixth consecutive monthly decline.

For the fiscal year-to-date (1 July-31 December), the Strip is down more than 5%, the most of the state’s major..

February 3, 2025

Many UK players turn to gambling for escapism says Gambling Commission report

In a special report using data from the Gambling Survey for Great Britain, the UKGC has broken down the key motivators for UK gamblers, with escapism one of the driving factors.

On 30 January the UK Gambling Commission published an add-on piece of research to the Gambling Survey for Great Britain (GSGB) report released in July. The survey is the first comprehensive report looking at the behaviour of gamblers in Britain, including what the key motivators are for players across multiple verticals.

This latest report, which cites findings from the Reasons for Gambling Questionnaire (RGQ), considers the relationship between different gambling activities and the players’ reason for engaging in them.

The RGQ contained a series of 15 questions on the reasons GSGB participants gave for taking part in gambling. People who had gambled in the past 12 months were asked to state how often their main reason for gambling was indeed their key motivator across all activities they had listed. They..

January 23, 2025

Michigan online gambling reaches record $2.9 billion in 2024

Revenue from online gambling in Michigan reached an all-time high of $2.9 billion (£2.4 billion/€2.8 billion) during the 2024 calendar year, with the state reporting record figures across both igaming and sports betting.

Gross internet gaming and sports betting receipts for 2024 surpassed the previous record, set in 2023, by 23.8%. This is also more than double the $1.90 billion in the first year of legal online gambling in Michigan in 2021.

Adjusted revenue, which accounts for promotional spending, amounted to $2.4 billion, up 22.3% year-on-year. Figures from the Michigan Gaming Control Board (MGCB), published on Tuesday (21 January), cover commercial and tribal operators.

Igaming revenue tops $2.4 billion

Starting with igaming, revenue in this segment of the market topped $2.4 billion in 2024. This beats the previous year by 26.3% and is a new record for the state. Adjusted gross receipts for igaming also reached an all-time high of $2.2 billion, an increase of 27.2%.

BetMGM and..

January 22, 2025

Massachusetts sets another sports betting handle record in December

Massachusetts reported a record sports betting handle for the fourth consecutive month in December, with consumers in the Bay State wagering $788.3 million (£639.3 million/€757.4 million).

The December total surpasses the existing monthly state record of $777.8 million in November by 1.4%. It is also 19.7% more than the $658.7 million bet in Massachusetts in December of 2023.

Massachusetts Gaming Commission data shows online betting spend for the month was $776.8 million. Retail sportsbooks across the state took a total of $11.5 million in bets.

As for revenue, however, total taxable gaming revenue declined 5.1% year-on-year to $57.5 million. This is also 28.6% lower than November’s record $80.5 million haul. The decline comes in the wake of customer-friendly sports results that impacted the entire industry in December.

Online betting was responsible for almost all revenue in December, generating $57.4 million. In contrast, just $64,037 came from retail wagering.

In terms of hold..

January 21, 2025

Denmark gambling revenue rises 7.8% in November

Overall gambling revenue in Denmark increased 7.8% year-on-year in November, driven by double-digit growth within the country’s online casino market.

Revenue for November reached DKK654 million (£74.1 million/€87.6 million/$90.7 million), Denmark regulator Spillemyndigheden reports. This is ahead of DKK608 million in the same month of previous year and 6.0% higher than October 2024.

As has been the case for some time, online casino generated the most revenue during the month. In total, revenue from this segment hit DKK295 million, up 17.9% year-on-year and 3.9% above October’s total.

Slots accounted for 77.4% of all online casino revenue in November. Blackjack drew 6.7%, roulette 6.6%, poker 3.5%, bingo 3.1% and other games 2.7%.

Minimal growth elsewhere in Denmark

While online casino continues to expand at a rapid rate, other segments also grew but at a much slower place.

Sports betting was the next highest segment in terms of revenue, generating DKK232 million for the month. T..

January 20, 2025

EveryMatrix net revenue tops €180 million in record 2024

EveryMatrix reported record annual net revenue of €180 million (£152 million/$186 million) in its 2024 financial year, with growth across all core product verticals.

Group net revenue was 59% higher than the €114 million recorded in the previous year, although this excludes the impact of recent M&A activity. When including this, overall revenue for 2024 hit €352 million, an increase of 46% and another record for the group.

The business was boosted in 2024 by two acquisitions. First came FSB Technology in July and Fantasma Games followed a few months later in October.

Growth in revenue also led to a rise in EBITDA. For the full year, EBITDA amounted to €101 million, a 70% increase on the previous year and another record. On top of this, EBITDA margin in terms of net revenue hit 56%.

EveryMatrix highlights OddsMatrix success

In its annual report, published today (20 January), EveryMatrix described 2024 as the best 12 months in its history. CEO Ebbe Groes (pictured) said while all se..

January 17, 2025

New Jersey gambling revenue tops $6.3 billion in record 2024

Gambling revenue in New Jersey reached $6.30 billion (£5.17 billion/€6.12 billion) in what was a record year for the state, with all-time high figures also reported across igaming and sports betting.

Total market revenue was 9.0% ahead of the existing record of $5.78 billion in the previous year. The New Jersey Division of Gaming Enforcement (NJDGE) reported growth across two of the state’s three sectors, with only land-based casinos seeing a decline.

Igaming pushes land-based casinos close in 2024

The stand-out performance in 2024 is by far igaming, with revenue up 24% to a record $2.39 billion. While this is short of the land-based market ($2.82 billion), igaming has surpassed physical casinos in recent months and 2025 could see it become the leading source of gambling revenue in New Jersey.

For 2024, some $2.36 billion of igaming revenue came from online slots and table games, up 24.5% year-on-year. Peer-to-peer poker revenue, however, slipped 1.5% to $28.5 million.

DraftKings ..

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Tag: Casino