Casino – Page 4 – FairOdds Network

January 16, 2025

Legislative roundup: MD tax hike, NJ sweepstakes, more

Legislative season is never dull for the gaming industry and this latest roundup includes a potential tax hike in Maryland and a sweepstakes bill in New Jersey.

Bills to legalise online casino gaming in Wyoming and Indiana, a proposed gambling tax rate hike in Maryland and a bill to legalise “sweepstakes gaming” in New Jersey were all rolled out this week as what tends to be a four-month flurry of legislative activity across the US begins.

In Maryland, gambling expansion backers have said they intend to reintroduce their own igaming legislation soon. But the more immediate news on Wednesday (15 January) was that Wes Moore, the governor of Maryland, introduced his annual budget. It notably includes his endorsement of a boost in sports betting tax from 15% to 30% and a rise in casino table game rates from 20% to 25%.

Ohio and Illinois already have raised their sports betting tax rates in the past year. The former did so less than a year after the first legal bets were placed.

New Yo..

January 14, 2025

First in line: Brazil licence holders KTO and Stake on licensing challenges and first-mover advantages

Among the first to gain access to the legal online betting market in Brazil, KTO and Stake sat down with iGB to uncover the licensing process and how their early entry will bolster credibility among consumers.

After years of delays, Brazil finally launched its legal betting sector on 1 January, with operators looking to tap into what is expected to become a top-three market globally. For companies who have already secured licensed approval, the first-mover advantage has provided them with an exciting opportunity to be trailblazers.

The legal betting market in Brazil launched with 14 companies initially receiving full licences, as well as 52 operators that were granted provisional authorisation.

Provisional licences were granted to companies who are facing setbacks with their applications, such as certification delays. The extensive requirements relating to certification, as well as the huge number of applications submitted to the Secretariat of Prizes and Bets (SPA), have led to ..

January 10, 2025

Las Vegas Strip revenue declines continue as Nevada posts 4% YoY decrease in November

The Las Vegas Strip posted its fifth consecutive monthly year-on-year revenue decline in November, with the state overall posting a 4.2% drop from last year.

According to figures from the Nevada Gaming Control Board (NGCB) released on 9 January, the state’s gaming industry posted $1.31 billion (£1.07 billion/€1.27 billion) in gross gaming revenue (GGR) in November. The 4.2% YoY decline is the fourth for the state out of the last five months. But this is somewhat qualified by the fact that FY24 was the best ever.

So far in FY25, Nevada gaming is down 2.8% from this point last year, per the NGCB.

The most notable figures from November came from the Las Vegas Strip. America’s gaming capital posted $788.7 million in GGR for the month, down just under 4% from last year. This is the first definitive proof that the second edition of the Formula One Las Vegas Grand Prix did not live up to the inaugural race last November, although local officials had already acknowledged that to be the c..

January 10, 2025

State of the Union: DraftKings-Delta deal just words right now, CA lawsuit update, more

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.

Don’t bet on betting on Delta just yet

On 8 January DraftKings and Delta Airlines announced a partnership that could eventually allow bettors to use the sportsbook app while on a flight. But View from the Wing writes that in-flight betting is against US law. The deal could be worth up $1.3 billion if it becomes legal to bet on US flights.

According to View from the Wing, in-flight gambling isn’t new. For “32 years, however, it was legal for foreign airlines flying to and from the US”, according to the publication. Airlines like Singapore Air, Swissair and RyanAir have all dabbled in it, but none had a gambling programme that stuck.

Announced at a CES presentation at the Sphere in Las Vegas, the announcement seems bigger than the actual deal. For now, there’s a partnership, but no betting, although View fro..

January 6, 2025

Weekend Report: SL Green CEO set for Times Square casino bonus, computer game addiction links to gambling warning

Welcome to the Weekend Report, where iGB looks at the news that you may have missed across Friday, Saturday and Sunday. This week: SL Green CEO £10 million bonus hinges on Times Square casino, expert warns computer game addiction drives teens to gambling and OBE for GambleAware CEO.

SL Green CEO set for £10 million Times Square casino bonus

Up first, Marc Holliday, the CEO of the real estate investment trust, will receive a $10 million (£8 million/€9.7 million) bonus if he can secure a land-based casino at New York’s iconic Times Square.

According to Crain’s New York Business, SL Green confirmed the bonus last week. The trust is hoping to gain permission from the state to convert a 54-storey tower into a casino and hotel.

SL Green is working in partnership with Caesars Entertainment and Roc Nation on the bid for a New York casino. However, the project faces competition from a host of other interested parties.

The Related Cos, Silverstein Properties, Bally’s, Miriam Adelson’s Las V..

January 3, 2025

State of the Union: Missouri sports betting update, California tribes sue, more

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.

MO wagering coming online sooner than expected?

Legal Missouri sports betting could be available sooner than mandated. The new law, passed by voters on 5 November, requires the state gaming commission to launch operators by 1 December 2025. But on 2 January, Missouri Gaming Commission (MGC) chairman Jan Zimmerman told Sports Betting Dime, “Depending on how quickly the process goes with getting the rules to the governor’s office, getting them signed, getting everything to the attorney general’s office, we could be looking at earlier in the summer than we anticipated.”

The emergency rules process is moving more quickly than expected, said Zimmerman. She is hopeful that the emergency regulations will reach the governor and attorney general for approval by the end of January. Should that happen, the MGC could op..

January 3, 2025

Portugal topples online gambling revenue record again in Q3

Online gambling revenue in Portugal hit an all-time-high for the eighth consecutive quarter in Q3, driven by a record performance from the nation's internet casino market.

Gross online gambling revenue in Portugal hit €266.3 million (£220.9 million/$273.8 million) during Q3. This surpasses Q3 of 2023 by 23.7% and the previous quarterly record, set in Q2 2024, by 1.7%.

Online casino revenue hits record €175.1 million

Data from regulator Serviço de Regulação e Inspeção de Jogos (SRIJ) shows this growth was driven by the online casino segment. Here, gross revenue hiked 31.2% year-on-year to an all-time high of €175.1 million. This also surpassed Q2 revenue by 10.5%.

Spending on internet-based casino games hit €4.87 billion in Q3, another new record and a 33.7% increase from 2023, as well as 11.6% higher than Q2.

As has been the case for some time, slots remain by far the online casino game of choice in Portugal. Slots drew 80.4% of all wagers during Q3, ahead of French roulette ..

December 20, 2024

State of the Union: Digital driver’s licences, latest Bally Bet launch and more

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.

Ohio casinos now take mobile driver’s licences

The Ohio Casino Control Commission (OCCC) 18 December announced a first. The state’s land-based casinos are now accepting mobile driver’s licences for age and identity verification. Hard Rock Casino Cincinnati, Hollywood Casino Columbus, Hollywood Casino Toledo and JACK Casino Cleveland will take the licences, which Ohioans can add to their Apple wallets. Patrons can show the mobile licence on a phone or Apple watch.

“From a regulatory perspective, accurate, safe and secure identification for entry into Ohio’s casinos is foundational to ensuring the integrity of casino gaming,” Tom Stickrath, OCCC chair, said via press release. “The Ohio Mobile ID leverages cutting-edge technology to provide a simple and secure method for verifying age and identity.”

🚨 New ann..

December 20, 2024

Betano deputy CEO points to localisation and sponsorship as the keys to success in Brazil

Betano looks set to be one of the frontrunners when the legal market launches in Brazil on 1 January 2025, with deputy CEO Aris Dimarakis emphasising the importance of sponsorship and a localised approach.

Legal online betting in Brazil is now less than two weeks away, and operators such as Betano have been jockeying for position to ensure they capitalise on being among the first to enter what will likely be a top-three global gambling market.

Betano was the first to apply for a licence back in May, with the company enjoying early brand awareness advantages due to its sponsorship-heavy strategy.

Making Betano visible across Latin America

Betano sponsored the Copa América football tournament over the summer, while it also sponsors the top-flight league in Brazil, as well as a number of clubs.

Betano’s sponsorship of the copa América afforded the brand huge visibility across latin america

Dimarakis believes this has been crucial to Betano becoming front and centre in the Brazilian..

December 19, 2024

Record sports betting, igaming drive Pennsylvania revenue to all-time high in November

Record monthly revenue from sports betting and igaming in Pennsylvania helped to push overall revenue in the state’s gambling market to an all-time high of $562.4 million (£447.4 million/€543.4 million) in November.

November’s revenue total beat last year by 26.5% and is 13.3% above $496.6 million in Pennsylvania in October of this year. It surpasses the existing record of $554.6 million, set in March, by 1.4%, Pennsylvania Gaming Control Board (PGCB) data shows.

Aside from total market revenue, the stand-out figures from the PGCB data are in reference to sports betting.

Gross revenue reached a record $77.1 million, up 498.4% on last year – in November 2023, operators had a record-low 1.38% hold. The all-time revenue high was $72.5 million, set last December, with the November 2024 total beating this by 6.3%. Of this sum, $71.7 million came from online betting and $5.4 million from retail sportsbooks.

Betting handle in Pennsylvania also hit an all-time high of $935.5 million. Coinc..

December 18, 2024

Michigan sets new sports betting and igaming records in November

Michigan operators reported several new records during November, including gross receipts from igaming hitting an all-time high of $226.0 million (£177.9 million/€215.3 million).

Gross internet gaming and sports betting receipts from commercial and tribal operators in Michigan topped $284.3 million in November. This is 35.9% above November last year and 12.1% ahead of October this year, the Michigan Gaming Control Board (MGCB) reported yesterday (17 December).

After accounting for promotional spending, total market adjusted gross receipts for the month was $240.4 million. The figure is 51.9% ahead of last year and 15.3% higher on a month-on-month basis.

Another new igaming record in Michigan

As was the case in the previous month, igaming was a highlight for Michigan operators in November. Gross igaming receipts were 28.9% higher year-on-year and surpassed the existing record of $220.7 million in October by 2.4%.

Adjusted gross receipts from igaming hit $203.3 million, up 28.8% fro..

December 17, 2024

Another new igaming revenue record for New Jersey in November

New Jersey set a new igaming revenue record for the fourth straight month in November, as all licensed verticals grew year-on-year.

Overall gambling revenue for the month hit $556.9 million (£438.6 million/€530.1 million), the New Jersey Division of Gaming Enforcement (DHE) reports. This is comfortably clear of $482.4 million last year and 11.4% above $499.8 million this October.

Sports betting and igaming were the standout performers in the New Jersey gambling market in November, with both verticals reporting double-digit growth. Land-based casino revenue in New Jersey was also up year-on-year.

After slipping behind online casino’s contribution in recent months, land-based was once again the main contributor to revenue in the month.

Land-based casinos make a comeback

Despite another record month of igaming revenue, the segment slipped back behind land-based casinos in terms of the area that generated the most gambling revenue in New Jersey.

Revenue from land-based casinos in No..

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