Sports Betting News Archives - Page 52 of 67

Mississippi sports betting handle up 7.9% in April

The Mississippi Gaming Control Board (MGCB) reported a 7.9% year-on-year rise in sports betting handle for April, though the state experienced a slight drop in revenue.

Consumers in Mississippi wagered $35.5m (£28.7m/€33.9m) on sports during the month, up from $32.9m in April 2021 but 25.9% down from $47.9m in March this year.

Revenue slipped 2.3% year-on-year to $4.2m, though this figure was marginally higher than $4.1m in March 2022 despite the lower handle.

Coastal casinos remained the venue of choice for consumers, with these casinos generating a total of £2.5m in revenue from $23.5m in wagers.

Revenue from central casinos reached $941,421 for the month, with players having wagered a total of $6.6m. Northern casino revenue amounted to $747,476 from a handle of $5.5m.

Basketball was again by far the most popular sport to bet across all regions in Mississippi, with $10.0m worth of wagers placed at coastal casinos, $2.0m in central venues and $2.9m at northern casinos.

The MGC..

May 18, 2022

Swedish gaming revenue up to SEK6.54bn in Q1

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Total gaming revenue in Sweden was up 5.8% to SEK6.54bn in the first quarter of 2022, as growth in land-based casinos and online gaming offset a decline in lottery sales.

Despite being a year-on-year increase, revenue was down 6.8% from the previous quarter.

Online betting and gaming made up most of this total, with revenue growing 7.2% to SEK4.20bn. This was also up 0.3% quarter-on-quarter.

The state lottery – run by Svenska Spel – as well as Svenska Spel’s Vegas brand of slot halls – brought in a combined SEK1.29bn, down 4.4% from Q1 of 2021 and down 23.6% from Q4.

Svenska Spel’s Casino Cosmopol brand of land-based casinos, meanwhile, brought in SEK103m, after no such revenue in Q1 of 2021, when these casinos were closed because of Covid-19. Compared to Q4, revenue was down 28.5%

Charitable lotteries brought in SEK863m, which was very slightly up from the same period of 2021, but down 3.0% from Q4.

Restaurant casinos brought in SEK39m, up from just SEK5m in Q1, but down from SE..

May 18, 2022

US growth helps power Sportradar revenue to €167.9m in Q1

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Data provider Sportradar’s revenue grew by 30.5% to €167.9m (£142.4m/$186.4m) in Q1 of 2022, as revenue from the US more than doubled while all other segments also experienced double-digit growth.

The United States was responsible for €25.7m of Sportradar’s revenue, more than double the total from Q1 of 2021. Meanwhile, €86.7m came from rest-of-world betting solutions, up 25.1%. The supplier said this growth was “driven primarily by increased sales of higher value-add offerings”, such as managed betting services which increased 51% to €26.4 million and live data and odds services, which increased 16% to €46.8 million.

A further €45.9m, up 16.9%, came from rest-of-world audiovisual products such as live streams, due to increased content from Tennis Australia and the National Hockey League (NHL). Revenue from other segments was up 13.6% to $9.5m.

Sportradar chief executive Carsten Koerl said it was Sportradar’s highest-margin products that had helped to power its growth.

“Our fiscal..

May 17, 2022

BetMakers signs racing and betting solutions deal with Royal Sabah

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BetMakers has signed a deal with the Royal Sabah Turf Club, which will see the company provide a new tote betting system and content management services to the Tambalang Race Course and associated off-course betting network in Malaysia.

BetMakers will utilise its Global Tote and Global Racing Network systems to meet the terms of the deal.

The five-year agreement will see Global Tote upgrade Royal Sabah’s current tote system to the Quantum Tote solution.

The Quantum Tote solution will be deployed as a software as a service solution and will give Royal Sabah the technical capabilities to distribute races to any racetrack or licensed operator globally.

However, BetMakers will have the global distribution rights to Royal Sabah races within tote and fixed-odds markets.

BetMakers acquired the Global Tote division from Sportech in June 2021.

“Global Tote is very pleased to extend and grow our partnership with Royal Sabah Turf Club,” said Lance Ku, director of sales and business developm..

May 17, 2022

Playmaker reports $5.8m revenue in Q1

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Playmaker has reported revenue of $5.8m (£4.6m/€5.5m) for the first quarter of 2022.

This was up by 37% on a pro-forma basis from 2021, which comprised of Playmaker’s 2021 acquisitions- including Yardbarker, Futbol Sites and Two-Up Agency.

The total cost of sales was $728,969, leaving the gross profit at $5m.

Operating expenses amounted to $5.7m, up by $5.6m year-on-year, with all facets rising significantly. The comparative expense figures from 2021 are not on a pro-forma basis.

The rise was was mostly due to salary and wages costs, which totaled at $2.9m, rising from $17,826 in the first quarter of 2021.

Depreciation and amortisation costs were recorded at $940,836, a rise from $297 yearly, while advertising, commissions and fees came to $478,803.

The remaining expenses were made up of a number of expenditures, including general and administrative expenses, professional fees and share-based compensation.

The expenses resulted in an operating loss of $673,011, a rise of 518.8%…

May 16, 2022

Missouri legislative session ends without legal sports betting

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A bill that would permit sports wagering in Missouri made progress in the state House last week, but the legislative session ended before it could be passed to become law.

House Bill 2752, which was sponsored by Representative Dave Griffith, was first introduced on February 23rd 2022. It was read for the first time that day, then for the second time the following day.

After then stalling for months, it was referred to the Special Committee on Public Policy on May 13. However, this was the same day as the state’s 2022 legislative session ended, and with no committee hearing held, sports betting was not passed during this year’s legislative session.

Read the full story on iGB North America.

May 16, 2022

Minnesota tribal sports betting bill passed by House

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A bill that would allow online sports betting to be governed by Minnesota’s 11 federally recognised Native American tribes has been passed by the state’s House.

House Bill 778 was passed after its third reading on May 12, following an amendment. It was first introduced on February 4 2021, initially allowing both tribal and commercial betting.

It was adopted by the Committee for Finance and Policy in March this year, along with House Bill 167, which initially focused on sentencing hearings. Both bills were amended to permit sports betting to be operated by the state’s tribes.

Read the full story on iGB North America.

May 13, 2022

Sportradar strikes partnership with Australian Ice Hockey League

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Sportradar has entered into a data and audio-visual (AV) distribution rights partnership with the Australian Ice Hockey League (AIHL).

The deal will see Sportradar own the League’s worldwide data and AV distribution rights until the end of the 2024 season.

Through the deal Sportradar will offer its Connected Stadium automated technology – which enhances the quality of video production – to AIHL fans.

The Connected Stadium camera system will be installed in six league venues over the length of the partnership, beginning with the O’Brien Icehouse in Melbourne.

In addition all eight AIHL teams will have access to Sportradar’s Synergy coaching and scouting platform, which features information on how to draft and scout players.

Sportradar will also offer access to its Universal Fraud Detection System.

“The suite of industry-leading technology solutions that we provide is vital for the AIHL to engage a wider audience and grow the profile and participation in ice hockey, both in Austral..

May 13, 2022

DC sports betting revenue down 33.3% YoY in April

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Sports betting revenue in Washington DC fell 33.3% year-on-year in April, despite consumer spending on wagering improving.

Revenue for the month amounted to $1.4m (£1.3m/£1.1m), down from $2.1m in the same month in 2021, but level with the figure posted for March this year.

In terms of handle, consumers wagered $18.4m on sports during the month, up 72.0% from $10.7m in April last year and also 21.5% higher than $15.2m in March this year.

Looking at individual operator performances, Caesars again led the way with $635,777 revenue off a handle of $7.8m.

Gambet, which is operated by the DC Lottery and powered by Intralot, followed in second after paying out $4.6m in winnings from $5.2m in wagers, resulting in $602,646 in revenue.

BetMGM, which operates in DC in partnership with Major League Baseball franchise the Washington Nationals, was next with $127,108 in revenue and a $5.0m handle.

Grand Central Restaurant, Bar and Sportsbook, which offers sports betting in partnership with El..

May 12, 2022

BetMGM to limit presence in New York until tax rates change

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BetMGM chief financial officer Gary Deutsch said the business would continue to adopt a “conservative” approach in New York until the state’s “irrational” tax environment changes.

During its latest investor day, BetMGM reiterated its net revenue guidance for 2022 of $1.3bn (£1.06bn/€1.25bn), up from $850m in 2021. Executives also said BetMGM’s earnings before interest, tax, depreciation and amortisation (EBITDA) for the year should be similar to 2021, when the business reported an EBITDA loss of $430m.

However, chief financial officer Gary Deutsch noted that there was a change in the portions of this $1.3bn produced by different states.

“Within this guidance, the revenue mix is different than previously expected,” he said. “We expected lower New York revenue and higher revenue in our other online sports and igaming states.”

Deutsch then went on to outline why BetMGM had taken few steps to establish a foothold in New York. During April, the operator reported $5.0m in revenue from $1..

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