Casino & games Archives - Page 5 of 6

Lithuanian gambling revenue grows by 90% in Q1

Gambling revenue in Lithuania grew 90.0% to €43.4m in the first quarter of 2022, as neither the return of the land-based sector or a wide-reaching marketing ban stopped the online sector from continuing to grow.

Online gambling revenue came to €26.8m, up 16.7% from Q1 of 2021.

The majority of revenue came from slots – which are split between category A and category B machines.

Category A slots, with uncapped payouts and stakes, brought in €15.5m, which was up 24.7% from 2021. This came on stakes of €210.4m.

Category B slots, which limit stakes to €0.50 per spin and have win amounts capped at 200 times the original stake, €683,313, up 57.9%.

Table games brought in €1.6m, up 25.5%, on €19.4m worth of stakes and betting revenue was €9.0m, up 2.1%, on stakes of €125.3m.

Turning to the land-based sector, revenue was €16.9m after the sector recorded negligible revenue in Q1 of 2021 with land-based gaming venues closed.

Again, most of this came from slots. category A machines brought ..

April 29, 2022

Nevada gaming revenue rises 21.7% in March

Sports Betting News Bookiecity

Gaming revenue in Nevada came to $1.35bn (£1.7m/€1.2m) in March, a rise of 21.7% from February.

This was also up by 27% compared to March 2021.

Slots accounted for a majority of the revenue, totaling at $903.0m. This was an increase of 18.1% month-on-month and 16.9% year-on-year.

Multi-denomination slots were the most lucrative form of slots, with revenue if $444.3m. This was a rise of 17.7% from February and 26.3% year-on-year.

Penny slots brought in $341.1m, up by 20.8% monthly. This was followed by one dollar slots, which generated $65.5m – a rise of 17.2%..

Table games brought in $452.1m, up 29.6% from the previous month and 53.3% from March 2021.

Baccarat was the largest contributor, with revenue of $131.7m. This was up significantly from February, rising 109.2%, and also year-on-year, where it increased by 93.1%.

Twenty one was the second most popular table game this month, coming to $104.5m. This was 8.2% lower than in February, but 46.4% higher than the previous march.

April 28, 2022

Churchill Downs revenue hits record $364.1m in Q1

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Churchill Downs Incorporated (CDI) has opened 2021 with a record-breaking performance over the three months to 31 March.

Group revenue for the first quarter of 2022 increased 12.3% year-on-year to $364.1m (£290.4m/€345.9m), a new record for the business.

Gaming was the top performer over Q1 with revenue of $179.2m, up 16.4% year-on-year, aided by capacity restrictions at its Oxford Casino Hotel in Maine, Flordia’s Calder Casino and Presque Isle in Pennsylvania.

The gaming division is set to expand further through the acquisition of Peninsula Pacific Entertainment, which adds properties in New York, Virginia and Iowa to CDI’s portfolio.

The operator’s advance deposit wagering business Twinspires followed with revenue of $101.4m, down marginally year-on-year, after a decline in horse racing revenue was partially offset by growth from its sport and casino business. That operation is being wound down, however.

CDI’s live and historical horse racing business reported a 34.8% jump in r..

April 22, 2022

Regulator calls on Norsk Tipping to launch betting loss limits

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Norwegian regulator Lotteri-og Stiftelsestilsynet has called on monopoly operator Norsk Tipping to reduce the availability and number of casino games on its site, and for the introduction of loss limits for sports betting.

In the regulator’s 2021 annual report, it found that both customer and turnover numbers reached a record high for Norsk Tipping, one of the country’s two monopolies alongside racing operator Norsk Rikstoto.

“There may be several reasons for the growth,” the regulator said. “One of the reasons may be that people through the corona pandemic have had more free time due to restrictions in leisure activities.”

This came despite the operator reducing its monthly loss limit for “high-risk” games from NOK10,000 (£869/€1,037/$1,117) to NOK7,500 in December 2020, before cutting it further, to NOK5,000, in September 2021.

While it noted that this represents a success for channelisation, the regulator added that it had asked the operator to strengthen its player protection ..

April 5, 2022

Equipment sales help Novomatic revenue rise in 2021

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Austrian gaming equipment supplier Novomatic has reported revenue of €1.84bn (£1.52bn/$2.02bn) for 2021, despite a dip in gaming operations revenue.

This was up by €98.7m, or 5.6%, from Covid-hit 2020, when revenue was €1.74bn.

Revenue from gaming operations was €1.03m, down slightly from €1.07bn the previous year. This was attributed to closures of gaming halls- from January to June 2021, an estimated two thirds of Novomatic’s arcades closed temporarily due to the pandemic.

Revenue from the sales of gaming technology made up the remaining €806.2m in revenue. This was up by 20.3%. The company attributed this rise to its Ainsworth business, which saw its sales rise from €67.9m in 2020 to €118.3m in 2021.

Novomatic acquired Ainsworth in 2018.

Total turnover from operators using Novomatic equipment or software in Europe came to €102.91bn. Much of this came from its lottery division, with €35.48bn. Betting operator turnover was €24.17bn, followed by casino turnover at €20.98bn.

Turno..

March 18, 2022

Pennsylvania betting operators record negative GGR in February

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Gambling revenue in Pennsylvania increased 24.4% year-on-year to $375.7m in February, despite the state reporting a loss for its regulated sports betting market.

The overall figure for February was up from $302.0m in the same month last year but was 4.4% lower than $393.1m posted in January of this year.

Figures published by the Pennsylvania Gambling Control Board (PGCB) showed year-on-year growth in almost all areas of the market, with the exception of sports betting where revenue plummeted from $16.4m in February 2021 to a loss of $442,847.

This was the first month in the history of the regulated Pennsylvania market in which operators made a loss.

Retail revenue reached $1.0m but online revenue came in at a loss of $1.5m. Players staked a total of $597.1m on sports during the month, an increase of 17.2% on last year.

Valley Forge, with its partner FanDuel, was the most successful sports betting operation in February, posting $1.6m in revenue. Hollywood Casino at Penn National’s ..

March 11, 2022

Inspired revenue grows in Q4 but business swings to loss

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Inspired brought in $67.0m (£51.2m/€61.0m) in revenue in Q4 of 2021 as all business segments experienced growth of more than 25%, but the supplier swung to a loss after a VAT rebate helped its 2020 bottom line.

This revenue figure was up 70.9% from 2020’s ordinary revenue from operations, but was down by 6.6% if the VAT rebate during the comparable period is included.

The gaming segment – made up of land-based slot machines – was the largest contributor to revenue, bringing in $26.8m, up 49.3%.

However, its leisure segment experienced the most rapid growth, with revenue up 183.4% to $23.5m.

Virtual sports revenue, meanwhile, was up 26.1% to $11.0m, while interactive gaming revenue grew by 35.8% to $5.7m.

During Q4 of 2020, the gaming division of the business also received a one-off $32.5m value-added tax (VAT) rebate after a court ruling determined that operators did not have to pay VAT on top of gaming taxes for machines, though this was not counted as revenue for that quarter. I..

March 4, 2022

Nairobi bill would only permit betting in five-star hotels

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The Nairobi County Assembly has approved at first reading a bill that would only allow gambling operators to be located five-star hotels, and would only allow them to operate between the hours of 8pm and 6am.

The Nairobi City County Betting, Lotteries and Gaming (Amendment) Bill, 2021 would amend the country’s Gaming Act, which only became law last year.

The bill was approved at its second reading last week, bringing it one step closer to becoming law.

It would add new provisions to the country’s gaming laws, including only allowing betting, lotteries and gaming facilities to be “domiciled in a five-star hotel”, as rated by Kenya’s Tourism Regulatory Authority.

In addition, licenced premises would only be allowed to operate between the hours of 8pm and 6am.

Meanwhile, gambling advertisements may not be broadcast during the watershed period, which occurs from 10pm to 5am. Physical advertisements such as billboards would be banned entirely.

The law would also require all operators ..

February 18, 2022

IGT expands in Washington state with Kalispel Tribe deal

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International Game Technology (IGT) has signed a multi-year agreement with the Kalispel Tribe of Indians which will see the company expand its sports betting offering to Washington state.

Under the terms of the deal, the Tribe’s Kalispel Casino will use IGT’s technology to power a retail sportsbook, which is due to open at a later date.

IGT first entered the Washington sports betting market in July 2021 via its partnership with Snoqualmie Casino. The company went on to reach a similar agreement with the Stillaguamish Tribe of Indians and their Angel of the Winds Casino Resort in September.

IGT’s president of sports betting Joe Asher said: “IGT is pleased to build on our sports betting momentum in Washington State and bolster our long-standing partnership with the Kalispel Tribe of Indians by powering sports betting at Kalispel Casino.

“We look forward to bringing a great sports betting experience to the Kalispel Casino so that our long-time partner can further engage its customer..

February 16, 2022

GiG CEO on first year of B2B focus

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After refocusing on B2B in 2020, 2021 was the year when Gaming Innovation Group's new strategy showed return. For chief executive Richard Brown, it still only feels like the start.

Yesterday (15 February) Gaming Innovation Group (GiG) reported a 28.0% year-on-year rise in revenue for 2021. Following its divestment of its B2C assets in 2020, this marked its first full year as a purely B2B business, and while CEO Richard Brown says he is pleased with the performance he stresses that it’s still the beginning for the company.

Richard Brown, GiG CEO

“We made the shift in 2020, laid the initial groundwork, and in 2021 it started to come to fruition. We felt we had to work on a lot of stuff operationally, so as the results followed the strategic move in sequence, it really feels as if we’re gearing up.”

Revenue for the year was driven predominantly by GiG’s media business, which contributed €45.0m of the total, up 31.2% from the prior year. Brown has previously described that divi..

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