Tag Archives: Land-based casino

  1. Home
  2. Land-based casino
UK gaming tax intake rises in H1 of 2022-23, but remote duty down
November 1, 2022

UK gaming tax intake rises in H1 of 2022-23, but remote duty down

Bookiecity

UK provisional betting and gaming tax intake for the six months to 30 September has risen 11.0% from £1.46bn to £1.62bn ($1.85bn/ €1.88bn) compared to the same period the previous year.

The largest contributors to this figure is the Lottery Duty, which represents 30% of the total, and the Remote Gaming Duty which contributes 28% of the total. However, both the duties declined both in absolute terms and percentage of the total from same period the previous year.

The 2022 figures had a high degree of variability month to month, demonstrating both seasonal variation and a decreased month-to-month stability in the figures post-pandemic – as commented on by HRMC.

“Since the 2020-21 financial year, monthly receipts have been more unpredictable and, instead, receipts across each quarter are now more representative,” it said.

As a result, the figures had a large range. At the high end, almost £500m of the total was gathered in April alone – while in September, just £93m was received by th..

Continue Reading

Penn exercises options to acquire remainder of Barstool
August 18, 2022

Penn exercises options to acquire remainder of Barstool

Bookiecity

Penn Entertainment – the business formerly known as Penn National Gaming – has exercised its option to acquire all remaining shares of media brand Barstool Sports.

Penn acquired a 36% stake in Barstool for $161.2m in 2020, after which it rebranded its sportsbook product to bear the Barstool brand name.

The operator would then increase its stake in Barstool beyond 50% – paying $62.0m for a further 14% stake – within three years. Penn was also granted immediately exercisable call rights that would allow it to acquire the remainder of the media business, “based on a fair market value calculation”.

In February of this year, Penn then revealed that it planned to exercise these options and control the entire Barstool business by early 2023.

Read the full story on iGB North America

Continue Reading

Detroit casino revenue down 8.8% YoY in June
July 15, 2022

Detroit casino revenue down 8.8% YoY in June

Bookiecity

The three commercial casinos in Detroit, Michigan, posted $98.6m (£83.4m/€98.2m) in total revenue during June, an 8.8% drop on the same month last year.

Revenue from the MGM Grand Detroit, MotorCity Casino and Penn National’s Hollywood Casino at Greektown was down from $108.1m in June 2021 and also 9.3% lower than $108.7m in May of this year.

MGM retained top spot in the Michigan city with a 49% share of the market, ahead of MotorCity on 34% and Greektown with 17%.

Breaking down the monthly performance, table games and slots were responsible for $98.2m of all revenue for the month, but this was 7.2% lower than in June of last year.

MGM led this area of the market with $48.3m in revenue, up by 4.3% year-on-year. However, revenue at MotorCity was down 9.8% to $33.5m, while Greektown’s revenue dropped 26.6% to $16.4m.

The three casinos paid $8.0m in gaming taxes, as well as $11.7m worth of wagering taxes and development agreement payments to the City of Detroit.

Turning to retail sp..

Continue Reading

May was second-best month ever for US commercial gaming
July 14, 2022

May was second-best month ever for US commercial gaming

Bookiecity

The American Gaming Association (AGA) has reported that US commercial gaming revenue came to $5.03bn (£4.25bn/€5.02bn) in May, the second highest month in industry history.

This was a rise of 7.9% from May 2021, in the earlier stages of recovery from the Covid-19 pandemic.

Slots continued to generate the most gross gaming revenue (GGR) overall, at $2.94bn, down just 0.1% year-on-year.

GGR from table games amounted to $873.9m, a rise of 10.5% year-on-year, while sports betting revenue came to $487.5m- up significantly by 78.2%.

Online gaming revenue also grew, by 30.9% to $406.4m.

For the year to date, total GGR is $24.39bn, up 20.6% from the same period in 2021.

Slots revenue for the year so far increased by 11% to $14.08bn and table games revenue grew by 38.2% to $4.05bn.

Sports betting revenue for the year to date jumped by 73.5% to $2.64bn. Online gaming GGR also grew significantly to $2.03bn, up by 45.6%.

The AGA also noted that March, April and May have been the three mos..

Continue Reading

Kyrgyz parliament votes to legalise casinos and igaming for foreigners
June 23, 2022

Kyrgyz parliament votes to legalise casinos and igaming for foreigners

Bookiecity

Kyrgyzstan’s legislature has voted to re-legalise land-based gambling and launch online casino for the first time, though all offerings will only be available to foreign players.

The bill “On Gambling in the Kyrgyz Republic” – passed on its third reading – would legalise a wide range of forms of gambling. As well as casinos, slot halls and retail bookmakers – which had all been legal in the past before casinos were banned in 2012 and the latter two banned in 2015 – online casino games will also be legal.

However, all gambling will only be available to foreign players.

Land-based casinos must only be set up in restaurants or hotel complexes. The restaurant must have at least 100 seats, and the hotel must have at least 20 rooms. Slot halls, meanwhile, must be separate rooms or buildings from any other type of business activity.

Casinos located in the Kyrgyz capital of Bishkek must have at least 10 gaming tables, while those elsewhere must have at least five. Slot halls must contain a..

Continue Reading

Churchill Downs revenue hits record $364.1m in Q1
April 28, 2022

Churchill Downs revenue hits record $364.1m in Q1

Bookiecity

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..

Continue Reading

Pennsylvania betting operators record negative GGR in February
March 18, 2022

Pennsylvania betting operators record negative GGR in February

Bookiecity

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 ..

Continue Reading