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GiG revenue grows 28% as business prepares to acquire Sportnco
February 15, 2022

GiG revenue grows 28% as business prepares to acquire Sportnco

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Media services continued to power revenue growth at Gaming Innovation Group (GiG) in 2021, ahead of the business’s acquisition of betting supplier Sportnco.

Overall, revenue was up 28.0% year-on-year to €66.8m (£55.9m/$75.8m).

Media services continued to make up the vast majority of GiG’s overall revenue, bringing in €45.0m, up 31.2% from 2020.

The media services division continued to expand in the US, now having approval to do business in 19 states.

“GiG will continue to invest in the US market to carry out our long-term strategy to claim the US market through our premium assets, Wsn.com and Casinotopsonline.com,” the business said.

GiG CEO Richard Brown added that he was especially impressed by the continued growth of this segment.

“Media Services continues to go from strength to strength, expanding rapidly in new markets and taking further share of wallet in existing markets,” he said. “The team and strategy has delivered exceptionally well during 2021.”

Platform services mad..

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Iowa sports betting handle doubles year-on-year in January
February 11, 2022

Iowa sports betting handle doubles year-on-year in January

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Bettors in Iowa staked $303.3m in the first month of 2022, meaning handle more than doubled year-on-year.

Amounts wagered for January was up 102.9% from January 2021’s $149.5m total figures from the Iowa Racing and Gaming Commission show.

This was driven entirely by mobile betting, with customers staking $275.9m during the month, a 128.4% jump.

Retail, on the other hand, actually declined from January 2021, with stakes down 4.5% to $27.5m.

Caesars led the way in terms of handle, with customers staking $112.7m through its mobile sportsbook, setting it ahead of DraftKings which reported $68.9m in mobile stakes, and FanDuel on $44.1m.

For retail, it was the FanDuel sportsbook at the Diamond Jo Worth Casino that led the way, with $8.7m staked. Penn National’s Ameristar II in Council Bluffs followed with customers wagering $5.4m at its Barstool Sportsbook, and the Caesars Sportsbook at Horseshoe Casino Council Bluffs on $3.9m.

From the statewide handle of $303.3m across all chan..

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Kindred records “strongest year to date” after year-on-year revenue increase
February 9, 2022

Kindred records “strongest year to date” after year-on-year revenue increase

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Kindred has reported revenue figures of £1.26bn (€1.50bn/$1.71bn) for 2021, representing an 11.4% increase on the previous year.

Casino and games revenue was the biggest contributor to the total with £648.7m, up 12.0% from £579.0m in 2020. Sports betting revenue accounted £547.2m, while poker revenue came to £30.8m. Other revenue sources added a further £28.5m.

Western Europe proved to be the most lucrative region for Kindred in 2021, generating revenue of £798.4m- an increase of 13.1%. The Nordic countries followed with £287.8m, while central, eastern and southern Europe added £110.5m.

Operating costs for the year totaled £470.4m. Marketing costs were £234.7m, while administrative expenses came to £235.7m. Other costs incurred, including merger and acquisition expenses and personnel restructuring, amounted to £16.5m.

However Kindred received an extra £75.5m from regulatory sanctions and previously held equity interest.

Operating profit for 2021 was £342.2m, a rise of 66.2% ye..

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Swedish government scraps deposit cap plans
January 27, 2022

Swedish government scraps deposit cap plans

Bookiecity

Sweden’s government has scrapped plans to impose new restrictions – including a SEK4,000 slots deposit cap – for online casino products.

The Swedish government announced earlier this month plans to reintroduce a number of temporary measures for the gambling sector, including a deposit cap, after a previous SEK5,000 cap had been in place for much of 2020 and 2021.

The cap – alongside other measures such as a SEK100 limit on sign-up bonuses – was set to be made official today (27 January) and come into force on 7 February, but the government instead opted to abandon the plan.

Gustaf Hoffstedt, secretary general of industry association BOS, which met with state secretary Alejandro Firpo earlier today, said the government made the right choice as the cap did not reduce gambling harm.

“It is a wise and well-balanced decision that the government has made,” Hoffstedt said. “Partly based on the general development of the pandemic. Partly, and above all, because precisely these restriction..

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