AGA hails commercial casino as ‘revenue generator’ in US

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Email Address Topics: Casino & games Finance Casino & games Overall gaming revenue increased 3.4% to $40.28bn in 2017center_img Regions: US The American Gaming Association (AGA) has paid tribute to the impact that the US commercial casino gaming industry has on the country’s economy, after the sector saw a 3.4% year-on-year rise in revenue in 2017. The revelation came in the 2018 ‘State of the States: The AGA Survey of the Commercial Casino Industry’, the organisation’s flagship publication that analyses the commercial casino market across 24 states. Commercial gaming generated a collective $40.28bn (£31.18bn/€34.71bn) in revenue during 2017, with states taking in a total of $9.23bn in revenue from commercial gaming taxes alone. In addition, 20 commercial casino states experienced revenue increases in 2017, which the AGA said reflects “strong macroeconomic trends and sustained job growth in most parts of the country”. The AGA estimates that the overall US casino industry is worth around $261bn and employs approximately 1.8 million people nationwide. Stacy Papadopoulos, interim chief executive of the AGA, said: “This year’s report demonstrates the commercial gaming industry’s role as a job creator and revenue generator in states across the country, and we’re proud of the industry’s steady growth over the past few years.” Casino gaming could be set for a further boost with more punters expected to visit gambling facilities to place sports bets, after the Supreme Court ruled to overturn PASPA earlier this year. Since the decision, a number of states have moved to regulate sports betting, with consumers able to visit casinos and racetracks to place legal wagers. In response to the ruling, the AGA recently moved to update its code of conduct to also cover sports betting as part of an ongoing effort to “build a more cohesive dialogue on responsible gaming”.Image: Pixabay 22nd August 2018 | By contenteditor AGA hails commercial casino as ‘revenue generator’ in USlast_img read more

Tatts struggles in year after Tabcorp takeover

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Finance Australian company sees fall in wagering despite digital growth and positive World Cup  Email Address Tatts saw a drop in wagering revenue during the year in which it was taken over by Tabcorp.In its annual report for the year to June 30, the Australian gaming operator revealed that wagering revenue was down by 0.5% to Aus$530m ($385m/£295m), with tote betting down 6.5% to $262.8m. Sports betting was up nearly 12% while fixed odds racing rose by almost 6%.The company’s UBET brand saw revenue turn positive in the second half of the year, with UBET fixed odds revenue growth improving to 9.6 per cent. Owner Tabcorp plans to phase out the UBET brand and replace it with the TAB brand in late 2018 in Queensland, South Australia, Tasmania and the Northern Territory.Revenue from Tatts’ continuing operations for the year was up more than 3% year-on-year to $2.86bn, due mainly to growth in lotteries and gaming services.The company recorded a profit from continuing operations of $36.2m – down 83% on the previous year – which it said was “adversely impacted by merger costs in respect of the Tabcorp-Tatts combination of $42.3m (up 26.6% from FY17), and impairment expenses of $149.0m incurred in relation to the Company’s UBET wagering brand and associated assets due to the intention to leverage Tabcorp’s TAB wagering brand”.Turnover from digital channels increased by almost 13%, assisted by a successful Fifa World Cup campaign and new products such as UBET’s Tappy, a digital product that allows customers to place wagers on their mobile phone at betting shops.Tabcorp and Tatts merged in December 2017 to create a combined business worth approximately Aus$11bn. Tatts closed its Luxbet online betting business just days after the deal completed.Last month Tabcorp posted net profit of $28.7m in the 12 months through to June 30, 2018, up from a $20.8m loss the previous year, with revenue rocketing by 71.4% to $3.829bn. Subscribe to the iGaming newslettercenter_img 24th September 2018 | By contenteditor Tatts struggles in year after Tabcorp takeover Regions: Oceania Australia Topics: Financelast_img read more

Unibet expecting chess final bonanza

first_img5th November 2018 | By contenteditor Marketing & affiliates Unibet is expecting to take more money on this month’s FIDE World Chess Championship showdown than some of the summer’s Fifa World Cup games.The operator described chess as “one of the fastest growing sports in the betting arena” ahead of the match in London between defending champion Magnus Carlsen, of Norway, and American challenger Fabiano Caruana. Unibet has seen a 17-fold increase in chess betting turnover since 2013, with World Chess claiming the sport has 600 million fans worldwide.Unibet said the World Chess Championship, which takes place in London between November 9-28, will generate a turnover higher than some Russia 2018 matches and be comparable to the takings for the Uefa Champions League final.The company became the World Championship’s first-ever official betting partner when it signed an agreement with World Chess that included exclusive betting rights in August.Richard Öström, country manager for Unibet Norway, said: “The interest in chess is continuing to grow and as the leading online bookmaker in Europe, we want to be a part of and contribute to big sporting events.“The odds in this highly competitive match will continue to fluctuate and this year’s World Championship showdown between Magnus Carlsen and Fabiano Caruana in London will continue to establish chess as a permanent fixture in betting.”In August it was announced that World Chess and Unibet will produce additional digital content for this year’s World Championship match. As part of the partnership, Unibet will receive a full suite of exclusive rights, including digital advertising, the use of exclusive photo and video content and the opportunity to take part in a round of the First Move Ceremony.Unibet’s chess markets range from outright to in-play selections such as next move.Ilya Merenzon, the CEO of World Chess, said: “It’s great to see the betting community from across the globe come together, proving that the sport is continually becoming even more popular.“The tournament is the highlight of the chess calendar and millions of fans around the world will follow every move.” AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Operator hopes London showdown could bring in similar turnover to Champions League final Email Addresscenter_img Topics: Marketing & affiliates Sports betting Unibet expecting chess final bonanza Regions: Europe Nordics Norway Subscribe to the iGaming newsletterlast_img read more

JenningsBet switches focus to digital ahead of FOBT changes

first_img Tags: Mobile Online Gambling JenningsBet switches focus to digital ahead of FOBT changes 19th February 2019 | By contenteditor UK independent bookmaker JenningsBet is to launch a new FSB-powered betting and gaming platform as part of its preparations maximum FOBT stakes being cut to £2 from April this year. Regions: UK & Ireland Subscribe to the iGaming newsletter Topics: Sports betting Tech & innovation UK independent bookmaker JenningsBet is to launch a new FSB-powered betting and gaming platform as part of its preparations maximum fixed odds betting terminal (FOBT) stakes being cut to £2 from April this year.The sportsbook will be powered by FSB’s pricing models, with JenningsBet customers able to place pre-match and in-play bets across a range of sports online or via mobile. Players will also have access to a live casino and a range of casino games on the FSB-supplied platform, while JenningsBet will benefit from CRM tools for player segmentation and bonusing. Greg Knight, managing director of JenningsBet, said the launch of the new, digital service comes after a tough 2018 for the bookmaker in the retail market. However, Knight also said that while there is a need for retail to evolve, the betting shop will always have a place in the industry and services such as the new online offering will complement traditional, in-person betting. “While we were keen to make this digital upgrade, finding the right partner who could join up our customers’ diverse needs across all channels was crucial,” he said. “With this state-of-the-art sportsbook, we aim to capitalise on the ramping demand for a mobile-first solution.” Richard Thorp, business development director at FSB, added: “Our platform is now setting the tone for online sports betting, driving the sector forward via innovative features for online, mobile and retail.” The move to digital comes ahead of regulatory changes on FOBTs, which come into effect from April. Maximum stakes will be cut from £100 to £2 while Remote Gaming Duty will rise from 15% to 21%. The changes are to be implemented despite warnings from the Association of British Bookmakers that the maximum stake reduction will result in up to 4,500 shop closures and 21,000 job losses. Betting Shop Services, the company behind JenningsBet and the Betterbet brand, cited the performance of its retail business as the main driver of year-on-year growth in profit and turnover for its financial year ended April 29th, 2018. However, upon revealing these results in November, Betting Shop Services said that it was watching developments relating to FOBTs and would make changes to its operations as necessary. The company said: “The directors are monitoring the situation closely and whilst doing so, are assessing any potential impact that will result, to enable them to take all appropriate measures to protect the long-term future of the business. “The assessment includes the consideration of the levels of both FOBT and over-the-counter income, together with overall profitability of individual shops.”Image: Dietmar Rabich AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Sports betting Email Addresslast_img read more

Kindred’s Unibet debuts in US market with New Jersey launch

first_img Tags: Online Gambling Kindred’s Unibet debuts in US market with New Jersey launch Kindred Group has launched its Unibet brand New Jersey through a partnership with the Hard Rock Hotel & Casino Atlantic City, marking its debut in the regulated US market.Unibet will offer a selection of casino games to consumers under a Casino Service Industry Enterprise Licence secured in 2018, operating under Hard Rock’s igaming licenceThe offering is powered by SG Digital’s Open Platform System player account management platform, with content provided by the supplier’s Open Gaming System game aggregation technology, following a supply deal agreed by Kindred last August.Read the full story on iGB North America.Image: Famartin Topics: Casino & games Tech & innovation Kindred Group has launched its Unibet brand New Jersey through a partnership with the Hard Rock Hotel & Casino Atlantic City, marking its debut in the regulated US market. Subscribe to the iGaming newsletter 4th June 2019 | By contenteditor AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Regions: US New Jersey Casino & games Email Addresslast_img read more

Nektan expands into Africa with Betika and BetLion

first_img Tags: Online Gambling Nektan expands into Africa with Betika and BetLion Topics: Tech & innovation Gaming platform and services provider Nektan has rolled out is services in Africa for the first time after agreeing content deals with operators Betika and BetLion. 23rd July 2019 | By contenteditor Tech & innovation Gaming platform and services provider Nektan has rolled out is services in Africa for the first time after agreeing content deals with operators Betika and BetLion.Nektan has integrated slots and table games with both operators via its E-Lite B2B content distribution platform, with all titles available across desktop and mobile devices.Both Betika and BetLion are focused on African markets and recently had their licences renewed by the Kenyan Betting Control and Licensing Board (BCLB). Betika, founded in 2016, sponsors Kenyan Premier League side Sofapaka, while BetLion was founded by Victor Chandler in 2017, powered by FSB’s sports betting technology.Nektan said the roll-out marks a landmark step in its B2B expansion strategy, which includes a focus on emerging markets such as Africa.“Africa is an emerging market that is rich with possibilities and presents us with opportunities to build our international expansion,” Nektan founder and executive director Gary Shaw said.“As we continue to grow Nektan’s B2B software division, deals such as this highlight how our proprietary technology is fit for purpose in emerging markets all over the world.”Jaydeep Chakravartty, vice president commercials, at Nektan, added: “As a nimble technology provider, we are able to efficiently integrate our content into large scale operator networks across the globe. Betika and BetLion will now be able to offer their customers a wide range of increasingly popular casino games.”The agreement follows Nektan last month issuing a profit warning to investors as its decline in player deposits continued into the final quarter of its financial year.Nektan said it expects to deliver year-on-year, double digit revenue growth and a significantly reduced EBITDA loss for the year ended June 30, 2019, though admitted that it wound fail to meet its target of achieving EBITDA break-even for the year,  Email Address Regions: Africa Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitterlast_img read more

US growth drives revenue up at GAN in first half

first_imgFinance Email Address Tags: Online Gambling Subscribe to the iGaming newsletter Topics: Finance Sports betting Online betting and gaming technologies provider GAN has put a 145% year-on-year increase in revenue during the first half down to the growth of its US business.Group net revenue for the six months to June 30, 2019 amounted to £11.3m (€12.6m/$14.0m), which represents a significant increase on the £4.6m posted in the corresponding period last year.The expansion of legal sports betting and online gambling in the US meant that revenue from the country was up substantially year-on-year. Real-money gaming US revenue in the first half amounted to £6.6m, compared to just £600,000 during the same period in 2018.US simulated gaming revenue also rose, to £2.3m, with overall US recurring revenue up 67% on a year-on-year basis. GAN’s US operations accounted for 78% of group revenue in the six-month period.GAN also noted growth in other markets, with European B2C revenue up from £100,000 to £600,000 and Italian revenue climbing from £1.7m to £1.8m.Read the full story on iGB North America.center_img AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter US growth drives revenue up at GAN in first half Online betting and gaming technologies provider GAN has put a 145% year-on-year increase in revenue during the first half down to the growth of its US business. 13th September 2019 | By contenteditorlast_img read more

VIP schemes under fire following Gambling Commission report

first_img Topics: Marketing & affiliates Subscribe to the iGaming newsletter Tags: Online Gambling 3rd January 2020 | By contenteditor Gambling operators in the UK have been told to improve their interactions with big-spending customers after confidential data illustrating the scale of VIP schemes was published. Gambling operators in the UK have been told to improve their interactions with big-spending customers after confidential data illustrating the scale of VIP schemes was published.The Guardian newspaper obtained information collected by the Gambling Commission through a Freedom of Information request. The membership programmes reward gamblers who deposit large sums with perks such as free bets, cashback and prizes.The regulator collected data from nine operators, with one of those revealing that while just 2% of its customers are VIPs, they account for 83% of deposits.The Gambling Commission study also shows that VIP gamblers are more likely to be addicts than ordinary customers. Some 8% of the country’s 47,000 VIPs are estimated to be problem gamblers, which is more than 11 times the rate among the wider public.The award of VIP status has been cited as a factor in seven out of 10 regulatory penalties issued to companies by the commission for failures to prevent problem gambling.A Gambling Commission spokesman told the Guardian it was already taking action to address poor practice linked to VIP programmes but was prepared to go further.It said: “Operators must improve their interaction with VIPs and we have challenged the industry to make faster progress to improve how they manage their customers.“We have also taken robust action against operators who fail to protect consumers and we will be even tougher if behaviour does not change.”Speaking to iGamingBusiness.com, GambleAware chief executive Marc Etches said more must be done to inform all gamblers about services that can assist them.He said: “Gambling is a major public health issue. Keeping people safe from gambling harms starts with ensuring the risks of gambling are made clear. We encourage gambling companies to promote and inform all customers including VIP customers about the free help and advice that is available via the National Gambling Helpline and online at BeGambleAware.org.”The UK government has pledged to conduct a review of the 2005 Gambling Act with a manifesto promise to “legislate to make the UK the safest place in the world to be online”.It described the Gambling Act as “increasingly becoming an analogue law in a digital age”. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Address VIP schemes under fire following Gambling Commission report Marketing & affiliates Regions: UK & Irelandlast_img read more

Paul Jackson on Akamai’s “State of the Internet” report

first_imgStrategy Paul Jackson, senior manager at the cloud security solutions provider Akamai, discusses the takeaways from the company’s recent “State of the Internet” report Topics: Strategy AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 4th March 2020 | By Josephine Watson Paul Jackson on Akamai’s “State of the Internet” reportcenter_img Subscribe to the iGaming newsletter Tags: Online Gambling Paul Jackson, senior manager at the cloud security solutions provider Akamai, discusses the takeaways from the company’s recent “State of the Internet” report.The report, which showed that the wider entertainment and media industry is a prime target for cyber crime, addressed some of the main challenges companies face when protecting themselves against these types of crimes, as well as best practice to reduce risk. Email Addresslast_img read more

Pennsylvania sees igaming revenue surge in April

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 18th May 2020 | By contenteditor Topics: Casino & games Finance Sports betting Pennsylvania’s online gaming revenue almost doubled to in April, and with all casinos closed during the month, the vertical accounted for 93.4% of the state’s gambling revenue for the month. Subscribe to the iGaming newsletter Email Address Pennsylvania sees igaming revenue surge in April Casino & games Regions: US Pennsylvania Tags: Mobile Online Gambling Pennsylvania’s online gaming revenue almost doubled to in April, and with all casinos closed during the month, the vertical accounted for 93.4% of the state’s gambling revenue for the month.Total revenue declined sharply to $46.1m, representing an 83.8% year-on-year decline, with land-based slot and table games revenue wiped out by the shut-down from March 17. Last year slots in bricks-and-mortar venues contributed $200.4m to the state total, with a further $77.4m coming from table games.Online gaming – which only launched in July 2019 – accounting for $43.1m of the total. This represented a 77.5% increase on March’s igaming revenue of $24.3m.For April 2020, igaming growth was driven by online slots, for which revenue more than doubled to $27.3m, a 121.2% month-over-month increase. Table games also reported growth, albeit more modestly, with revenue up 19.4% at $10.5m.Poker, which is only offered by The Stars Group – via its partnership with Mount Airy Casino – accounted for a further $5.3m, up 67.7%.Rush Street’s Rivers Casino Philadelphia led the market for April, with revenue up 102.8% to $13.7m. It was followed by Mount Airy, for which more than half of its $10.4m total came from online poker.Valley Forge, and its partner FanDuel, saw online casino revenue rise 59.7% to $7.9m, while Penn National’s Hollywood Casino’s 67.0% month-over-month growth took it above Parx into fourth place.The month also included the first contribution from DraftKings’ and Caesars Entertainment’s online casino products. The Caesars offering, which went live on 23 April under the Harrah’s Philadelphia license, generated $231,464.DraftKings’ offering began its test launch under Penn National’s license from April 29, before its official roll-out early in May. For those two days of live testing, it generated revenue of $29,416.Read the full story, including the revenue breakdown for sports betting and fantasy sports, on iGB North America.last_img read more