Land-based casino – Page 10

July 17, 2023

NJ gambling revenue up 13.9% year-on-year in June

Gambling revenue in New Jersey increased 13.9% year-on-year in June, although the state experienced a month-on-month decline.

State-wide revenue for the month amounted to $457.2m. This was up from $401.5m in June of 2022 but 13.9% down from $401.5m in May this year.

Land-based gambling remained by far the primary source of revenue during the month. This area of the market generated $241.6m in revenue, 5.4% more than last year.

Slots accounted for $183.0m of all land-based revenue, a rise of 7.0%, while table games revenue climbed 0.9% to $58.1m.

Read the full story on iGB North America

June 29, 2023

Nevada gambling revenue reaches $1.29bn in May

Gambling revenue in Nevada in May amounted to $1.29bn, a slight decline on the previous year but a month-on-month increase of 11.2%.

Revenue in the state was 0.8% lower than $1.30bn in May 2022 but ahead of the $1.16bn generated in April this year.

Slots remained by far the primary source of revenue for operators, drawing $877.9m worth of revenue, up 0.9% year-on-year. Multi-denomination slots accounted for $501.3m of this total, with penny slots generating $285.9m.

Revenue from table, counter and card games slipped 4.4% to $411.2m, with declines across almost all gambling types.

Read the full story on iGB North America

June 21, 2023

PA gambling revenue continues to rise in May

Gambling revenue in Pennsylvania increased both month-on-month and year-on-year in May to reach a total of $479.4m.

Revenue was 7.1% ahead of $447.8m in May of 2022 and also 0.6% higher than $476.7m in April this year.

Land-based slots remained the primary source of revenue by some distance, generating a total of $210.9m during the month. This was 2.5% more than in the same month last year.

In contrast, retail games revenue declined 7.8% year-on-year to $81.6m.

Read the full story on iGB North America

May 19, 2023

Lithuania gambling revenue jumps 26.1% in Q1

Gambling revenue in Lithuania increased 26.1% year-on-year during the first quarter, with growth across both the online and land-based segments.

Total revenue in Lithuania during the three months to 31 March amounted to €55.3m (£48.0m/$59.7m), up from €43.9m in the same period last year.

Some €36.6m came from online gambling, a 36.0% year-on-year rise. The majority of this came from Category A online slots, with these games generating €23.1m in revenue from €306.8m in player bets.

A further €979,987 came from Category B slots after consumers spent €6.3m betting.

Lithuania’s remote sports betting revenue reached €9.6m, after players wagered €151.2m, while online table games activity resulted in €2.9m in revenue from €31.3m in spend for the quarter.

Turning to land-based gambling and revenue was 10.0% higher at €18.7m. Category B slot machines were the primary source of revenue, generating €8.0m in revenue after players bet €50.7m.

Category A slot machine revenue reached €3.8m from..

February 15, 2023

Detroit casino revenue up 2.6% to $103.5m in January

Revenue at the three land-based commercial casinos in Detroit increased 2.6% year-on-year in January despite a sharp drop in sports betting revenue.

Total revenue amounted to $103.5m for the month, up from $100.9m in January 2022 but 5.8% lower than $109.9m in December last year.

Table games and slots accounted for almost all revenue during January, generating $103.4m in total, up 4.4% year-on-year.

Read the full story on iGB North America

January 19, 2023

Inspired Entertainment promotes Pierce to CEO

Inspired Entertainment has promoted its current president and chief operating officer Brooks H Pierce to the role of chief executive.

Pierce succeeds former CEO, A Lorne Weil, who has subsequently been promoted to executive chair of the supplier’s board.

Besides his CEO duties, Pierce will also continue in his role as chief operating officer and have additional oversight on company strategy.

As part of the promotion, Pierce’s terms of employment have been extended to 31 December 2026. His base salary has increased to $585,000 with a bonus eligibility of up to 110% of his annual salary, meaning he could earn up to $1.2m depending on performance.

Alongside Pierce’s promotion, executive chairman Weil’s terms of employment have been extended to 31 December 2027.

Weil’s updated terms of employment include a salary increase to $800,000 per annum, and an 80,000 yearly limit on shares.

The business said the leadership changes were part of a wider plan to streamline strategic oversi..

January 11, 2023

Detroit casinos post gaming and sports betting revenue drops in 2022

Detroit’s three land-based commercial casinos reported a year-on-year decline in gaming revenue for 2022, with revenue down across both slots and tables games and sports betting.

Revenue for the 12 months to 31 December 2022 was $1.28bn, down 1.4% from $1.29bn in the previous year. Slots were responsible for $983.7m of total revenue, representing 77% of the market, then table games with $273.3m (21%) and sports betting at $18.8m (2%).

Analysing the performance by market sector, combined slots and table games revenue fell by 0.8% year-on-year to $1.26bn.

Read the full story on iGB North America

January 9, 2023

Gaming bill filed as Texas gears up for 2023 legislative session

The Texas legislature will consider a bill that would amend the state’s constitution to legalise casinos at a limited number of locations and set the stage to permit sports betting.

The proposed law – Senate Joint Resolution 17 – would devise the framework for a new body named the Texas Gaming Commission, which would supervise legalised gambling in Texas.

Casino gambling would be authorised at a “limited number of destination resorts and facilities” with the proceeds going towards tax relief and funding for education and public safety.

The amendment’s author is Houston-based state senator Carol Alvarado, a Democrat who initially pre-filed the bill on 14 November 2022.

Read full story on iGB North America

January 5, 2023

ICE London partners Gambling Business Group for High Street Gaming Hub

Clarion Gaming has entered into a partnership with strategic body the Gambling Business Group to run a new show floor feature at this year’s edition of ICE London.

Dedicated exclusively to licensed street gaming, the GBG High Street Hub will feature both contributions and insight from leading brands including Novomatic UK, Entain, Buzz Bingo, Merkur UK and GameNation.

The new hub will be situated adjacent to the Pillar Hall Casino, a networking space and bar for the land-based industry, and allow visitors to explore the latest developments in the street gaming sector.

ICE London 2023 will take place from 7-9 February at the ExCeL London,

“ICE London 2023 will be the biggest edition on record and I am delighted that this will include a section of the show floor dedicated to the street gaming sector of the business,” Clarion Gaming managing director Stuart Hunter said.

“Our strategy and remit is to work in partnership with the industry that we serve and our collaboration with the Ga..

November 18, 2022

New Jersey betting revenue down as challengers struggle in October

Sports betting revenue in New Jersey declined by 7.4% year-on-year to $77.9m, as revenue for its leading brands increased but challengers in the market struggled.

This figure came as players bet $1.06bn on sports, down by 18.1% from October 2021’s record-high $1.30bn. Of this total, $987.6m was placed online, with the remaining $72.6m placed in person.

The Meadowlands, with a FanDuel betting skin, continued to easily lead the market with $45.4m in sports betting revenue, up 3.0%. In second place was Resorts Digital, which has partnered with DraftKings and brought in $17.2m, up 8.0%

BetMGM partner the Borgata was the only other operator to crack even a 3% market share, bringing in $9.5m, up by 18.7%.

Read the full story on iGB North America

November 11, 2022

The US midterms and what they mean for the industry

This year’s US midterm elections have plenty riding on them for the industry.

iGB has put together a panel of experts to discuss the fallout for US sports betting, online casino and land-based gaming.

California dreaming

A clash of the titans in California looks set to end in disappointment for both sides. There’s still much to discuss, namely whether an immovable force and an unstoppable object can reconcile after a bruising campaign. And more importantly, when will legal betting actually come to the Golden State?

State elections to watch

Developments in several state legislatures could also have a game-changing impact for US gaming regulation. Sports betting and casino hangs in the balance in Georgia, while Minnesota candidate Scott Jensen has voiced support for legal wagering.

Then in Oklahoma, governor Kevin Stitt may have his second term denied by disputes over tribal gaming.

That’s not even mentioning potential developments in Kentucky, Missouri and Virginia. In a number o..

November 2, 2022

EU ups money laundering risk from online gambling to highest level

The European Commission has raised the threat level for money laundering in online gambling to its highest possible rating, and called for lower thresholds for due diligence checks to prevent criminal activity.

The European Commission carries out periodic supra-national risk assessments, determining the risk of money laundering and terrorist financing across the European Union in various sectors. The 2022 edition is the third such risk assessment, after previous versions in 2017 and 2019.

“As with the previous reports, this third edition analyses the present ML/TF risks and proposes comprehensive action to address them,” the European Commission said. “It also assesses the degree to which the Commission’s recommendations for mitigating measures in the 2019 report have been implemented and evaluates the remaining risks.”

One area of particular focus in the report was gambling, with each gambling vertical receiving its own risk assessment.

Online gambling was found to be especially vu..

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Tag: Land-based casino