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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.

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January 11, 2023

Virginia bill introduced capping tax deductions for bonuses

Sports Betting News Bookiecity

A bill has been introduced in the Virginia Senate limiting tax deductions for bonuses and promotions.

Senate Bill 1142 – introduced by Democratic state senator Jeremy McPike – would amend the existing code of Virginia definition of adjusted gross revenue. Under current law, “adjusted gross revenue” means gross revenue minus four specified deductions.

The proposed amendment would change the first deduction which allows for allows for operators to deduct all bonuses and promotions from gross revenue. It would seek to impose a cap on the amount that can be claimed beginning at 2.5% of the total wagered by the player in 2023-24, lowering to 1.75% by 2026.

This would have the effect of potentially raising the tax burden on sports betting operators in Virginia, since it is adjusted gross revenue, not gross revenue which is subject to the state’s 15% gaming tax.

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January 11, 2023

3et Bookie | Revolutionary New Online Sports Betting

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Bet365 is set to expand into Pennsylvania, having entered an online sports betting and igaming market access deal with Churchill Downs Incorporated (CDI) subsidiary Presque Isle Downs & Casino.

The agreement, CDI said, is consistent with its strategy to exit the online sports and casino business, with the operator seeking to monetise its online sports and igaming market access rights and focus on growing the TwinSpires online horse racing wagering business.

CDI revealed in February last year that it was to switch its approach to operations in the online casino sector but would retain retail sportsbook operations in its casinos.

Read the full story on iGB North America

January 11, 2023

All About OddsLay Bookie

Bookiecity news, Bookmakers, Sports Betting News Bookiecity

Bet365 is set to expand into Pennsylvania, having entered an online sports betting and igaming market access deal with Churchill Downs Incorporated (CDI) subsidiary Presque Isle Downs & Casino.

CDI revealed in February last year that it was to switch its approach to operations in the online casino sector but would retain retail sportsbook operations in its casinos.

Read the full story on iGB North America

January 11, 2023

Play ‘N’ Lay Bookie: The Future of Sports Betting

Bookiecity news, Bookmakers, Sports Betting News Bookiecity

Bet365 is set to expand into Pennsylvania, having entered an online sports betting and igaming market access deal with Churchill Downs Incorporated (CDI) subsidiary Presque Isle Downs & Casino.

CDI revealed in February last year that it was to switch its approach to operations in the online casino sector but would retain retail sportsbook operations in its casinos.

Read the full story on iGB North America

January 11, 2023

Oddswar | A top-rated Bookie in the Online Sports Betting Industry

Bookiecity news, Bookmakers, Sports Betting News Bookiecity

Bet365 is set to expand into Pennsylvania, having entered an online sports betting and igaming market access deal with Churchill Downs Incorporated (CDI) subsidiary Presque Isle Downs & Casino.

CDI revealed in February last year that it was to switch its approach to operations in the online casino sector but would retain retail sportsbook operations in its casinos.

Read the full story on iGB North America

January 11, 2023

All About OrbitX Broker | Powered by BetFair

Bookiecity news, Bookmakers, Sports Betting News Bookiecity

Bet365 is set to expand into Pennsylvania, having entered an online sports betting and igaming market access deal with Churchill Downs Incorporated (CDI) subsidiary Presque Isle Downs & Casino.

CDI revealed in February last year that it was to switch its approach to operations in the online casino sector but would retain retail sportsbook operations in its casinos.

Read the full story on iGB North America

January 11, 2023

FairExchange | Powered by BetFair

Bookiecity news, Bookmakers, Sports Betting News Bookiecity

Bet365 is set to expand into Pennsylvania, having entered an online sports betting and igaming market access deal with Churchill Downs Incorporated (CDI) subsidiary Presque Isle Downs & Casino.

CDI revealed in February last year that it was to switch its approach to operations in the online casino sector but would retain retail sportsbook operations in its casinos.

Read the full story on iGB North America

January 11, 2023

All about LayStars | Powered by BetFair

Bookiecity news, Bookmakers, Sports Betting News Bookiecity

Bet365 is set to expand into Pennsylvania, having entered an online sports betting and igaming market access deal with Churchill Downs Incorporated (CDI) subsidiary Presque Isle Downs & Casino.

CDI revealed in February last year that it was to switch its approach to operations in the online casino sector but would retain retail sportsbook operations in its casinos.

Read the full story on iGB North America

January 10, 2023

Bet365 to enter Pennsylvania with CDI deal

Sports Betting News Bookiecity

Bet365 is set to expand into Pennsylvania, having entered an online sports betting and igaming market access deal with Churchill Downs Incorporated (CDI) subsidiary Presque Isle Downs & Casino.

CDI revealed in February last year that it was to switch its approach to operations in the online casino sector but would retain retail sportsbook operations in its casinos.

Read the full story on iGB North America

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