Online sports betting – Page 8

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 26, 2025

PointsBet board approves MIXI acquisition bid amid rival offer from BlueBet

PointsBet has approved a takeover bid from MIXI Australia via a scheme arrangement which will transfer 100% of PointsBet's shareholding to the Australian arm of Japanese digital entertainment and sports group, MIXI Inc.

If the deal is approved PointsBet shareholders will receive cash consideration of $1.06 per share as part of the deal, which represents a significant premium of 27.7% to PointsBet’s closing price on 25 February. This amounts to around AU$353 million.

This amount also equates to an EV/EBITDA multiple of 25.2x – 32.1x based on PointsBet’s FY25 EBITDA guidance range.

The deal has been unanimously recommended by the board, as published in its half-year financial earnings report on 25 February.

A vote to approve the deal will occur in late May, and the ‘scheme’ is expected to pass and be implemented in mid-June.

MIXI’s Japanese parent company operates a number of sports and digital gaming business arms, including the FC Tokyo football team, horse racing betting..

February 25, 2025

Nevada’s Titus is latest to push back on prediction market wave

Longtime Nevada representative Dina Titus has become the latest official to reach out to the Commodity Futures Trading Commission (CFTC) regarding tougher enforcement against prediction markets.

Nevada’s Dina Titus is in her seventh two-year term as an elected official in the house of representatives. As such, she has experience with following proper processes and protocols to get things done.

And in a letter sent last Friday (21 February) to Commodity Futures Trading Commission (CFTC) acting chairwoman Caroline D Pham, Representative Titus took issue with prediction market operators offering a form of sports betting without going through all the proper processes and protocols.

“This year, platforms have started to offer contracts on sporting events,” Titus wrote about midway through her two-page letter, a copy of which she posted on social media. She was referring to the likes of Kalshi, Crypto.com, Robinhood and others. The platforms permit users to risk money, in a stock market-..

February 25, 2025

Michigan igaming momentum continues in new year

Record monthly online gambling revenues lifted Michigan’s combined gross igaming and sports betting receipts to $331.2 million (£262.5m/€316.4m) in January.

The total figure, comprising igaming receipts of $248.2 million and sports betting revenue of $83 million, was up 25.4% over December’s total.

January’s record online gambling figure surpassed the previous record of $244 million set in December. Adjusted monthly igaming gross receipts of $233.1 million represented a year-on-year increase of 42%.

Online gambling growth

Last month, the Michigan Gaming Control Board (MGCB) reported that igaming revenue reached an all-time high of $2.9 billion in 2024.

The momentum appears to be continuing in the new year, with the market’s three biggest players increasing their monthly receipts.

BetMGM and MGM Grand Detroit, which generated market-leading igaming receipts of $640.1 million in 2024, remained at the top with $66.5 million in January. This figure was up from $65.1 million in Decemb..

February 25, 2025

Hawaii digital sports betting bill heads to house floor

Hawaii's house finance committee moved a legal online sports betting bill forward on Monday (24 February). A companion bill is set for a hearing on Wednesday.

An amended version of HB 1308 received committee approval, but at least six members voted “with reservations”. Finance was the third and final Hawaii house committee to pass the bill, which now moves to the house floor. A companion bill, SB 1569, is set to be heard in the senate ways and means committee on Wednesday.

Just ahead of Monday’s vote, chairman Kyle Yamashita offered amendments to make passage more palatable. He suggested removing the tax rate – originally set for 10% – and the licensing fee pending further review. There was much discussion during the hearing about how many tax dollars the state stands to gain.

In addition, representative Sue L Keohokapu-Lee Loy said the $250,000 (£197,761/€238,712) licence fee “appears rather low for an industry that makes billions of dollars. I would love to see that licenc..

February 24, 2025

Maryland lawmaker files bill to kill sports betting

The latest trend in sports betting legislation seems to be to try to shut down legal markets.

On 20 February a Maryland lawmaker filed a bill to shut down that state’s legal sports betting market. It is the second bill across the US this year calling for the end to an already legal market. Lawmakers in Vermont filed a similar bill there on 4 February.

In Maryland, Senator Joanne Benson filed SB 1033, which would shut down the legal online sports betting market on 1 January 2026. In the text of the bill, Benson suggests that some operators have application fees refunded in certain circumstances. It would not affect the status of Maryland’s brick-and-mortar sportsbooks.

Retail sports betting launched in December 2021 in Maryland. Digital platforms launched in November 2022. Through January 2025, bettors had wagered a combined $12.2 billion (£9.6 billion/€11.7 billion) across both verticals, and the state got $143.2 million in tax revenue. Operators reported gross gaming revenue of ..

February 21, 2025

Missouri secretary of state rejects emergency betting rules; launch now set for fall

On Friday (21 February) Missouri's secretary of state said he is rejecting the “emergency” status for sports betting rules. The regulator says this will delay the proposed June launch.

Missouri secretary of state (SOS) Denny Hoskins is rejecting the proposed emergency sports betting rules filed by the Missouri Gaming Commission (MGC). And the commission says it is pushing the sports betting go-live date to the fall.

Saying that the “the situation does not warrant an “emergency” rulemaking designation, Hoskins told iGB that the “proposed emergency rules were intended to address specific aspects of gaming regulations. However, following a thorough review, it was concluded that the matter does not meet the criteria for emergency rulemaking according to Missouri law.”

Hoskins said the proposed emergency rules, which were sent to Governor Mike Kehoe on 27 January, could “proceed through the standard rulemaking process which includes the opportunity for public input”.

Missouri law ..

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 18, 2025

BOS urges Swedish government to remove Gambling Act loophole and tackle black market

Sweden's gambling trade body BOS has written to the country’s ministry of finance urging it to remove a “loophole” in the Gambling Act that allows unlicensed operators to accept players in Sweden when targeting them in a language outside of Swedish.

In the letter, BOS said the Gambling Act only prohibits unlicensed operators from offering gambling without consequences when targeting consumers in Swedish and/or processing transactions in Sweden’s local currency.

This, BOS said, is driving black market growth in Sweden and preventing it from reaching its goal of 90% channelisation.

“It is [currently] permitted for gambling companies all over the world and their service providers to enable games from Swedish customers as long as it is done in a language other than Swedish and in a currency other than SEK. Most Swedes understand English and understand the value of commonly used foreign currencies, such as the euro,” the letter said.

“There is therefore no real possibility for ..

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 2026
Mon	Tue	Wed	Thu	Fri	Sat	Sun
						1
2	3	4	5	6	7	8
9	10	11	12	13	14	15
16	17	18	19	20	21	22
23	24	25	26	27	28

Tag: Online sports betting