Tag Archives: Online casino

  1. Home
  2. Online casino
Michigan online gambling revenue tops $176m in July
August 23, 2023

Michigan online gambling revenue tops $176m in July

Bookiecity

Combined online sports betting and casino revenue in Michigan increased 18.8% year-on-year to $176.1m (£138.8m/€162.7m) in July, while the state also reported a month-on-month rise.

Gross receipts were comfortably ahead of $148.2m in July 2022 and also 4.0% more than $169.3m in June this year. The total also halted three consecutive months of decline in Michigan.

Online casino gaming gross receipts reached $153.6m in July, up 21.3% on last year and 1.7% ahead of June’s total.

Gross sports betting receipts were 4.2% higher year-on-year at $22.5m and 23.0% more than in June. This was despite handle falling 10.8% from $225.0m in July 2022 to $200.8m, with spend also 11.9% lower than in June.

July adjusted gross receipts up 17.8%

In terms of adjusted gross receipts, which account for promotional spending, Michigan also reported growth.

Combined igaming and sports betting adjusted gross receipts amounted to $154.6m. This was 17.8% ahead of last year and 5.8% higher than June’s total…

Continue Reading

Pennsylvania gambling revenue up 8.9% to $467m in July
August 18, 2023

Pennsylvania gambling revenue up 8.9% to $467m in July

Bookiecity

Gambling revenue in Pennsylvania increased 8.9% year-on-year to $467.0m in July, driven by growth across the igaming and sports betting segments.

Monthly revenue in Pennsylvania was ahead of $429.1m in July 2022 and 6.0% higher than $440.5m in June this year.

Retail slots remained the primary source of revenue by some margin, generating a total of $214.7m during the month. This was 0.4% higher than in the previous month. In contrast, retail table games revenue slipped 3.8% to $83.4m.

Turning to igaming and revenue in this market increased by 34.8% year-on-year to $132.9m. This included $94.9m in online slots revenue, up 31.9%, and $35.4m in internet table games revenue, a rise of 48.0%.

Hollywood Casino at Penn National continued to lead this segment with $54.4m in igaming revenue. Valley Forge Casino Resort placed a distant second on $29.2m, then Rivers Casino Philadelphia with $26.8m.

Pennsylvania July sports betting revenue hits $32.1m

Elsewhere, there was also an increase in ..

Continue Reading

iGB pens strategic partnership with Glücksspielwesen.de
August 16, 2023

iGB pens strategic partnership with Glücksspielwesen.de

Bookiecity

iGB has entered into a strategic partnership with Glücksspielwesen.de, the gambling-focused arm of Germany’s monthly news title for public servants, Behörden Spiegel.

Under the agreement, iGB will leverage its audience to connect the gambling industry with Glücksspielwesen’s network of policy analysts, advisers and politicians.

iGB will work with Glücksspielwesen on joint activations including content initiatives such as webinars. The deal also covers event support, with the aim of bringing together gaming operators and suppliers with Germany’s political classes.

The partnership comes in the wake of Germany’s reregulation of gambling. Earlier this year, the country welcomed Gemeinsamen Glücksspielbehörde der Länder (GGL) as its new federal regulator to oversee the market.

Creating a forum for engagement

“Clarion Gaming, the parent company of iGB, is clearly the champion of information in the gaming and gambling industry,” Behörden Spiegel senior consultant Robert Hess said. “Glüc..

Continue Reading

Online growth drives US gaming revenue to record $16.1bn
August 16, 2023

Online growth drives US gaming revenue to record $16.1bn

Bookiecity

US commercial gambling revenue reached a Q2 record of $16.07bn, the 10th consecutive quarter of growth, according to the American Gaming Association (AGA).

This represented an 8.1% increase from the total US gaming revenue recorded in Q2 2022 and is the second-highest grossing quarter in industry history, with only Q1 this year reporting a higher figure.

Overall, the US gambling industry generated $32.71bn in commercial gaming revenue for the six-month period, up 11.9% from last year.

AGA estimated the results led to $7.28bn in gaming tax revenue for state and local governments, a 12.9% increase from 2022. The trade body highlighted the industry is in on track to contribute the highest total in tax revenue it has done in its history.

“While commercial gaming is on track for an unprecedented third consecutive year of record revenue, the lasting impact we’re making on our communities through this record growth is even more impressive,” said AGA president and CEO Bill Miller.

Online ..

Continue Reading

Dearth of igaming legislation prompts major WynnBet roll-back
August 11, 2023

Dearth of igaming legislation prompts major WynnBet roll-back

Bookiecity

Wynn Resorts blames a dearth of igaming legislation and marketing costs for a major reduction in its online brand WynnBet’s US footprint.

Wynn will cease operations in Arizona, Colorado, Indiana, Louisiana, New Jersey, Tennessee, Virginia and West Virgina as soon as possible.

Operations in New York and Michigan remain under review. Only Nevada and Massachusetts operations are guaranteed to continue – states where it operates land-based properties.

“Better uses of capital deployment”

There are better uses of capital deployment for Wynn shareholders than the high levels of marketing spend required for online sports betting, chief financial officer Julie Cameron-Doe explained.

“While we believe in the long-term prospects of igaming, the dearth of igaming legislation and the presence of numerous other investment opportunities available to us around the globe have led us to the decision to curtail our capital investment in WynnBet to focus primarily on those states where we maintain..

Continue Reading

Wynn talks up “substantial” UAE growth potential as Q2 revenue rises
August 10, 2023

Wynn talks up “substantial” UAE growth potential as Q2 revenue rises

Bookiecity

Wynn Resorts CEO Craig Billings said the operator is edging closer to securing a licence for its new integrated resort in the United Arab Emirates (UAE), while the business posted a 75.8% rise in Q2 revenue to $1.60bn (£1.26bn/€2.46bn).

The business first announced plans to open Wynn Al Marjan Island in early 2022. The Wynn Resorts facility will be located on the man-made Al Marjan Island in the Emirate of Ras Al-Khaimah and will cost approximately $3.90bn.

The venue is not due to open until early 2027 but Wynn is already busy making plans for the casino. Construction partners were appointed in March, initial designs were revealed shortly after and Thomas Schoen was recently named project president.

“We have everything we need to operate gaming in Al Marjan”

Wynn released renderings of its property in Ras al-Khaimah earlier this year

In addition, the operator is pushing to secure early approval ahead of the planned opening. Speaking on its earnings call, he said Wynn expects to re..

Continue Reading

Online growth drives Lithuania H1 gambling revenue up 21.5%
August 9, 2023

Online growth drives Lithuania H1 gambling revenue up 21.5%

Bookiecity

Gambling revenue in Lithuania increased 21.5% during the first six months of 2023, driven by growth within the country’s online gaming sector.

Gross gaming revenue for the first half in Lithuania was €108.5m (£93.5m/$119.2m), up from €89.3m in the same period last year.

Of this total, €72.2m was attributed to online gambling, a year-on-year rise of 31.5%. The remaining €36.3m came from land-based activities, up 4.6% on the previous year.

Online slots lead the way in Lithuania H1

Breaking down this performance, €45.5m of all online gambling revenue came from category A slot machines. This was 37.5% higher year-on-year.

A further €1.8m in Lithuania was generated from online category B slot machines, up 28.6% on 2022.

Internet sports betting revenue climbed 12.4% to reach €19.0m in the first half. In addition, remote table games revenue was 71.4% higher at €6.0m.

Slower growth in land-based sector

Turning to Lithuania H1 land-based gambling, category B slot machines were the main ..

Continue Reading

Caesars Digital becomes EBITDA positive in Q2
August 2, 2023

Caesars Digital becomes EBITDA positive in Q2

Bookiecity

Caesars Entertainment has posted the first quarter of positive adjusted EBITDA for its digital business since rebranding to Caesars Sportsbook in the summer of 2021.

The group launched its new-look sportsbook app in August 2021, following its acquisition of William Hill earlier in that year. Caesars acquired William Hill for £2.90bn (€3.37bn/$3.71bn) in April 2021 after a deal was agreed in September 2020.

In the months and years that followed, Caesars Sportsbook was rolled out across a total of 20 of states. However, despite this extended reach, EBITDA did not turn positive until the second quarter of this year.

EBITDA from Caesars Digital in Q2 reached $19.0m. In May this year, Caesars set a digital EBITDA target of $500.0m within the next two years.

Eric Hession, president of Caesars Sports and Online Gaming, welcomed the landmark. He highlighted the growth of both online sports betting and casino.

“Our performance this quarter continues to demonstrate the effectiveness of our ..

Continue Reading

Bet-at-home H1 cost-cutting pushes earnings despite revenue decline
August 1, 2023

Bet-at-home H1 cost-cutting pushes earnings despite revenue decline

Bookiecity

German-facing sports betting and igaming operator Bet-at-home.com announced the business’ cost-cutting measures has tripled the company’s EBITDA, despite an overall decline in revenue.

Bet-at-home’s gross gambling revenue stood at €24.2m in H1 2023. This was a 9.3% fall from the €26.7m the business achieved in the same period the previous year.

The FL Entertainment-owned company said this resulted from regulatory developments in Germany. It represents the operator’s largest single source of revenue.

In particular, Bet-at-home highlighted the impact of the monthly betting limits Germany implemented from 1 July 2022.

These limits – which were implemented as part of the country’s Fourth State Treaty on Gambling – include a €1 per spin stake limit for online slots.

The operator also highlighted a weaker than expected development of the online gaming segment. This is a trend it also blamed on enhanced regulation from the previous year.

Impact of strict cost-cutting

However, during H..

Continue Reading