Casino – Page 5 – FairOdds Network

December 13, 2024

Ex-casino exec Sibella to have Nevada gaming licence revoked

The Nevada Gaming Control Board (NGCB) today (13 December) announced a tentative agreement with former MGM Grand and Resorts World executive Scott Sibella, who in January pleaded guilty to failing to file a suspicious activity report while at the MGM Grand.

Sibella is so far the only person involved in a far-reaching illegal sports betting ring to be sentenced.

Wayne Nix, whom Sibella extended credit to despite having knowledge that he ran an illegal book, Mathew Bowyer, who had up to 700 customers playing at his illegal book, and Ippei Mizuhara, the Japanese language interpreter who stole $17 million (£13.4 million/€16.1 million) from baseball superstar Shohei Ohtani to gamble, all await sentencing. The cases are playing out in US District Court in Southern California. All three defendants pleaded guilty and face varying amounts of prison time and fines.

Nix’s sentencing is set for 26 March 2025, Bowyer’s sentencing is set for 7 February 2025 and Mizuhara’s sentencing is schedule..

December 12, 2024

Sanborn casino sale saga highlights value of HHR for small markets

Earlier this month, the year-long New Hampshire legal saga surrounding the forced sale of Andy Sanborn's Concord Casino came to a close. The process was drawn out and contentious, however in the end it didn't actually centre around the casino but around a historical horse racing (HHR) licence.

Sanborn, a former New Hampshire state senator, was forced to close and sell the casino last year. Attorney general John Formella last August accused Sanborn of misappropriating $844,000 (£660,846/€803,192) of Covid relief funds related to the casino and other businesses. No charges have been filed for that investigation, but Sanborn was arrested on 18 October on a separate charge for misrepresenting the casino’s gross receipts in order to obtain more relief funds.

After the first investigation was opened, Sanborn and the state began a legal battle that lasted almost a year. He was originally given a June deadline to sell, but that was extended multiple times. A deal was said to be i..

December 11, 2024

Illinois FY24 gambling report: Tax revenue over $2 billion, but casinos not key drivers

Data from the fiscal year 2024 edition of the Wagering in Illinois report from the legislature's Commission on Government Forecasting and Accountability showed that the state's gaming industry generated a record $2.08 billion (£1.62 billion/€1.97 billion) in tax revenue in FY24, the most ever for the Prairie State.

According to the report, state tax revenue grew 4.8% year-over-year from $1.99 billion in FY23. Illinois has one of the strongest gaming industries in the US, with casino gaming, video gaming (slot routes), sports betting, horse racing and lottery.

The report covers not just the last fiscal year, but references financial reports dating back to legalisation dates for each genre of gambling.

The commission noted that FY24’s growth was “largely driven by the steady expansion of video gaming, elevated lottery sales and rapid growth in sports wagering”. The first two sectors generated the majority of tax revenues – $886 million from the lottery and $848 million fr..

December 6, 2024

State of the Union: Missouri margin was slim, FanDuel fined in MA, 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.

Final tally: Slim win in Missouri

Missouri voters passed a legal sports betting initiative on 5 November, but the vote count wasn’t official until yesterday (5 December). And it turns out that the proposal won by the slimmest of margins – .05%, according to the Missouri secretary of state’s (SOS) office. The SOS certified the results, which show that Amendment 2 won by 2,961 votes. A total of 2,954,343 ballots were cast on the initiative question.

The initiative was the richest in Missouri history, with proponents and opponents spending a combined $57 million. DraftKings and FanDuel were the biggest proponents, although Missouri’s professional sports teams took the lead on the getting the initiative on the ballot.

Kansans have gone all-in on sports betting. But soon, Missouri residents will be able to rol..

November 22, 2024

State of the Union: DraftKings under fire, AGA reports record Q3 for gaming revenue

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.

DraftKings under fire in MA, OH

On Wednesday (20 November) the Ohio Casino Control Commission (OCCC) levied a $425,000 (£335,028/€408,042) fine on DraftKings for two separate violations. The OCCC said DraftKings took college-player prop bets, which are banned in the state. It also said the company allowed accounts to be funded at “unauthorised” locations.

With regard to the college-player prop bets, DraftKings took bets 14-19 March, after the ban went into effect 1 March. In terms of account funding, the OCCC revealed that DraftKings took $2.5 million – on 40,985 deposits – at “non-gaming retail locations”.

Following the violations, the OCCC said DraftKings removed player-prop bets from its Ohio bet menu and stopped taking deposits at unapproved locations. The commission is requiring DraftKings to train i..

November 21, 2024

Strong igaming lifts Pennsylvania gambling revenue in October

Gambling revenue in Pennsylvania increased 2.8% year-on-year in October to $496.6 million (£392.6 million/€471.6 million) driven by near-record figures from the Keystone state’s igaming market.

Total revenue for October was ahead of $483.0 million during the same month last year. However, data from the Pennsylvania Gaming Control Board shows a 1.8% drop from $505.9m million in September.

Igaming revenue hits $189.1 million in October

Igaming was undoubtedly the leading segment in October, with revenue up 22.1% year-on-year to $189.1 million. This was just 1.1% shy of March’s $191.1 million monthly record.

Breaking down this market, online slots generated $140.9 million in gross revenue, up 28.3% from last year. Internet table games revenue also increased 7.8% to $45.9 million, although online poker revenue slipped 5.9% to $2.2 million.

Hollywood Casino at Penn National Race Course continues to lead the igaming market. For October it took $69.5 million in revenue, up 11.6% from las..

November 19, 2024

Chris Christie has plenty to say about gambling legalisation. But is he right?

New Jersey's former governor spouted off about chances of legalisation in Texas and California last week. But he's way off the mark.

In an interview with Covers about the state of legal gambling in the US last week, the former New Jersey governor revealed that he is out of touch. Although he and his administration spearheaded the lawsuit that resulted in legal sports betting across the US, Christie would be wise to speak of what he knows.

Or as gaming consultant Brendan Bussmann said: “Texas and California are beasts unto their own and have their own political dynamics, which make them their own markets. This isn’t waving pixie dust on everything and making sports betting happen like one former governor seems to think.”

Christie’s comments about California showed clear ignorance about the state of gambling expansion in the biggest state in the nation. And about how gambling politics work there. Not once did he mention California’s tribes, which have exclusivity for gaming..

November 18, 2024

Weekend Report: Paddy Power customers turning to NFL betting, Evolution edges closer to Galaxy Gaming acquisition

Welcome to the Weekend Report, where iGB looks at the news that you may have missed across Friday, Saturday and Sunday. This week: NFL popularity on the rise among Paddy Power customers, Evolutions moves closer to Galaxy Gaming acquisition and Victoria launches Gambling Harm Awareness Week.

NFL betting popularity on the rise with Paddy Power

First, Paddy Power has revealed increasing interest in NFL betting. American football is now the third most popular of all sports among customers in the UK and Ireland.

Data from the operator shows only football and horse racing have been more popular than the NFL in 2024. This is in contrast to 2021 when NFL ranked seventh in popularity, also behind golf, boxing, rugby union and darts.

In the past year, the NFL jumped from fifth to third on the most popular sports list at Paddy Power. The operator puts this down to several reasons including better coverage on television and an improved offering on its own sportsbook.

“Organic growth in NFL i..

November 15, 2024

Philippines gambling revenue up 37.5% in Q3 on online growth

Gross gambling revenue in the Philippines increased 37.5% year-on-year in Q3 after a near-five-fold uptick within the online sector offset declines across the land-based market.

Data published yesterday (14 November) by the Philippines Amusement and Gaming Corporation (Pagcor) shows revenue hit PHP94.61 billion (£1.27 billion/€1.53 billion/$1.61 billion) during Q3. This is clear of the PHP68.79 billion reported last year and 2.7% higher than Q2 this year.

The stand-out result in Q3 was the PHP35.71 billion generated from electronic (or online) gaming, a rise of 465.0%. The Philippines electronic gaming market covers activities such as online casino, sports betting, bingo and specialty games.

Pagcor chairman and CEO Alejandro Tengco talked up the “phenomenal” increase. He said he expects the sector to continue to grow and reach its end-of-year PHP100 billion revenue target in 2024.

“This impressive performance is a strong indication that the use of modern technology and mobile gadge..

November 14, 2024

Q3 online growth fails to offset continued land-based decline in Sweden

Gambling revenue in Sweden hit SEK6.66 billion (£477 million/€574 million/$605 million) in Q3, with growth in the igaming segment failing to offset declines in land-based.

Revenue was 1.3% behind the SEK6.74 billion recorded during Q3 of 2023, Sweden regulator Spelinspektionen reports.

The figure also falls 3.4% short of SEK6.89 billion in Q2 of this year. On top of this, Q3 revenue was the lowest quarterly total since SEK6.58 billion was reported in Sweden in Q1 2023.

Commercial online gambling remains the primary source of gambling revenue in the country by some distance. During Q3, SEK4.33 billion of revenue was reported for this segment, a year-on-year increase of 1.5%. This includes internet-based casino and sports betting activity.

Land-based declines hit Sweden in Q3

However, declines were reported across almost all other sectors of the market. Revenue was down in many core land-based segments, with Svenska Spel’s Casino Cosmopol hit with a 76.5% revenue decline to SEK31 mi..

November 14, 2024

Betting with benefits banned in Brazil pending final approval

Minister for Brazil's Federal Supreme Court Luis Fux has filed an injunction to ban betting via Brazil's Bolsa Familia social welfare cheque. The measure will be put to an emergency session of the Brazilian chamber of deputies today with plans to enforce it effective immediately.

The decision was made after a two-day hearing at the Federal Supreme Court (STF), initiated on Monday 12 November, sought to investigate the impacts of betting in Brazil and determine whether the law governing the upcoming legal market is constitutional.

The STF hearing was called following a request from Brazil’s third biggest trade union, the National Confederation of Trade in Goods, Services and Tourism (CNC), filed an ADI (Ação Direta de Inconstitucionalidade) which is a legal action in Brazil intended to overturn a law that conflicts with the country’s Constitution.

Brazil’s betting sector, which is preparing to receive initial licences shortly, has faced significant backlash from politicia..

November 12, 2024

ANJL: Brazil black market will grow if betting law is deemed unconstitutional

The National Association of Games and Lotteries (ANJL) has said Brazil's black market activity would increase if the Supreme Court deems its betting law unconstitutional.

On Monday (11 November), the ANJL shared its thoughts at the ongoing Federal Supreme Court (STF) hearing which will determine whether Law No 14,790/2023 for legalised sports betting in Brazil is considered unconstitutional.

The two-day public hearing this week is investigating the impacts of betting in Brazil, with a number of big industry names speaking at the event. It was initiated after Brazil’s third biggest trade union, the National Confederation of Trade in Goods, Services and Tourism (CNC), requested the betting law be declared unconstitutional.

The union filed an ADI (Ação Direta de Inconstitucionalidade), which is a legal action in Brazil that seeks to uphold a law or act that goes against the constitution.

The rapporteur of ADI 7721 is minister Luis Fux, who said on Monday the STF must assess t..

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Tag: Casino