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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

Bookiecity

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

Bookiecity

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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PointsBet revenue doubles, but losses also grow, in Q2
January 28, 2022

PointsBet revenue doubles, but losses also grow, in Q2

Bookiecity

Betting and igaming operator PointsBet’s total revenue doubled year-on-year to $90.4m in the quarter ended 31 December 2021, thanks to US growth and the addition of betting supplier Banach Technology, but losses continued to grow.

The quarter was the second of PointsBet’s 2021-22 financial year.

In total, PointsBet took in sports bets worth AUD$1.33bn in Q2, up 11.1% from the second quarter of 2020-21.
The majority of this total came from Australia, where revenue was up 33.6% to AUD$727.0m.
In the US, meanwhile, revenue was down by 9.2% to AUD$598.9m.

PointsBet revealed that during the quarter it held a 7.4% sports betting market share in the state of Illinois, 5.1% in Michigan, 3.5% in Colorado, 3.1% in New Jersey, 2.8% in Indiana, 2.3% in Iowa and 1.4% in West Virginia.

Gross sports betting revenue grew by 60.4% to AUD$133.8m with strong growth in both major markets. In Australia, the total was up by 22.2% to AUD$92.2m, while US revenue grew more than fivefold to AUD$41.6m, despi..

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Genius expects positive EBITDA and $340m in revenue for 2022
January 27, 2022

Genius expects positive EBITDA and $340m in revenue for 2022

Bookiecity

Data provider Genius Sports expects revenue to reach $340m and earnings before interest, tax, depreciation and amortisation (EBITDA) of $15m in 2022.

The business announced a number of details about its future outlook in its 2022 investor day today (27 January).

Revenue is set to reach $340m for the year thanks in part to continued growth as 2022 goes on. While revenue for Q1 is projected to be $78m and for Q2 this total is just $68m, the total then rises to $85m in Q3 and $109m in Q4, a busy period that will include both the NFL season and football’s World Cup.

Betting technology, content and services will make up the majority of revenue, bringing in $216m. SPorts technology and services will bring in $49m while projected revenue from media technology and services is $75m.

Like revenue, earnings are also expected to grow as the year goes on. The business expects to be EBITDA negative by $5m in Q1, before recording a total of in $8m in Q2, $9m in Q3 and $3m in Q4.

In 2023, the out..

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Mississippi reports marginal growth betting handle for December
January 24, 2022

Mississippi reports marginal growth betting handle for December

Bookiecity

Mississippi's casinos reported total sports betting stakes of $56.8m for December 2021, a 2.8% year-on-year increase.

This, however represented a 6.2% month-over-month decline.

During December, the vast majority was staked in the state’s coastal casinos, which made up $37.5m of the total.

A further $10.7m was wagered at properties in Mississippi’s central region, with a further $8.7m staked in casinos in the north of the state.

American football proved to be the most popular sport to bet on across the state, with $24.9m being staked on the sport. Basketball followed with $15.5m, while parlay bets totaled $10.4m. Other bets added $6.1m.

After player winnings, evenue for the month amounted to $3.2m, down 59.0% from 2020 and a decrease of 66.3% compared to November.

The coastal region was the biggest contributor to the revenue total, generating $2.2m. The northern region was next with $553,536, followed by the central region with $496,568.

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