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Pennsylvania Sportsbooks Surpass $2 Billion in Lifetime Bets, But Cancellations Weigh on Future, According to PLAYPENNSYLVANIA

George Miller

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Pennsylvania Sportsbooks Surpass $2 Billion in Lifetime Bets, But Cancellations Weigh on Future, According to PLAYPENNSYLVANIA
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A busy February pushed Pennsylvania’s retail and online sportsbooks past $2 billion in wagers since the industry was launched. But with every major U.S. sport suspended indefinitely, the immediate future for Pennsylvania’s sportsbooks and online casinos is far less certain, according to analysts from PlayPennsylvania.

“The next few months are impossible to predict until we get a better handle on how long the coronavirus will affect, not just sports and the gaming industry, but all of daily life,” said Dustin Gouker, lead analyst for PlayPennsylvania.com. “The immediate outlook of sportsbooks is secondary right now. But there is little doubt that the industry will be affected significantly, at least in the short-term.”

Pennsylvania’s sportsbooks produced $329.8 million in wagers, just short of the $348.4 million record set in January, according to official data released Wednesday. Pennsylvania has now collected $2.1 billion in online and retail wagers since the state’s industry was born in January 2019. By doing so, the Keystone State joined Nevada and New Jersey as the only states to have crossed the $2 billion threshold.

February’s handle produced $4.7 million in gross revenue, down from January’s record $31.6 million. Sportsbooks rebounded from a $3.3 million loss on the Super Bowl, which generated $30.7 million in bets. The revenue resulted in a $1.6 million injection into state coffers. Online betting produced $294.1 million, or 89.2%, of the state’s February handle. The online handle generated $4.7 million in gross revenue, providing all of the state’s taxable revenue.

That revenue will be difficult to replace over the next few weeks.

“Revenue from online casinos should help fill in the gaps, at least in part, while sportsbooks and land-based casinos feel the impact from COVID-19,” Gouker said. “In New Jersey, online casino revenue already tops $50 million per month, and revenue could really leap forward in Pennsylvania, too. But it will be impossible to completely replace all the revenue lost from the sports world going dark.”

FanDuel Sportsbook at Valley Forge Casino dominated the online market with $138.5 million in February bets, down from $153.1 million in January. That yielded $146,080 in taxable revenue.

Rivers-Philadelphia’s $7.2 million handle, down from $7.4 million in January, led the retail market. That yielded $383,793 in revenue, down from $1.1.

“After a slow start, Pennsylvania sportsbooks have continually matured into the market that we all thought it would be when the state first legalized sports betting,” Gouker said. “The state has only begun to scratch the surface of its potential. In fact, Pennsylvania was on track to reach $4 billion in lifetime handle by the beginning of the NFL season. But it would take a quick recovery from the coronavirus outbreak to reach that milestone now.”

Online casinos

Pennsylvania’s online casinos and poker rooms generated a record $19.5 million in February gross revenue, up from $14 million in January. Casinos and poker generated $672,097 per day in the 29 days of February. February yielded $4.7 million in tax revenue for the state, and online casino games attracted $547.6 million in bets.

“Online casinos have dealt with headwinds that have been more forceful than anything that New Jersey operators have had to face,” Gouker said. “These are mostly just growing pains, and it is a near-certainty that online casinos will take off.”

For more, www.playpennsylvania.com/revenue.

About the PlayUSA.com Network:
The PlayUSA.com Network and its state-focused branches is a leading source for news, analysis, and research related to the market for regulated online gaming in the U.S.

 

SOURCE PlayPennsylvania

Gambling in the USA

Royal River Casino selects Table Trac’s Table Games Management System

George Miller

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Royal River Casino selects Table Trac's Table Games Management System
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Table Trac, Inc., a developer and provider of casino information and management systems that automate and monitor the operations of casinos, announced it will provide its Table Games Management System for the Royal River Casino located in Flandreau South Dakota.

“Our property is excited to partner with Table Trac to continue to improve our operations. We identified a clear need to upgrade our player tracking and accounting capabilities in our table games department.  Accordingly, after reviewing the majority of the systems available, CasinoTrac was a clear winner for our property,” said Tim Morrissey, Senior Director or Operations at Royal River Casino & Hotel. “Our Executive Team was extremely impressed with the ease of operation for the front-end user of the system. We also see future value in the dynamic nature of the CasinoTrac System to integrate with our current systems while leaving the door open to add additional module in the future.” Morrissey added that “In addition to the CasinoTrac system providing the functionality the property was looking for, the CasinoTrac Team approached the property as a partner, looking to solve our problem and be part of the long-term success of the property, something we are always looking for in our vendors.”

“Royal River Casino had a unique set of requirements.  They communicated exactly how they wanted to approach the solution, we listened and were able to demonstrate how they could utilize features in the CasinoTrac system to accomplish those objectives,” said Table Trac’s Chief Executive Officer, Chad Hoehne who added, “Table Trac, Inc. is happy to be partnering with Royal River for these system solutions.”

Table Trac will provide the Royal River Casino with a complete suite of table games management products that assists casinos in driving player revenues and creating player loyalty, which are included standard with every Table Trac Table Games Management System.

 

SOURCE Table Trac, Inc.

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Gambling in the USA

IGT Launches PeakBarTop Cabinet

Niji Narayan

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IGT Launches PeakBarTop Cabinet
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International Game Technology PLC (IGT) has launched its next-generation bartop hardware, the PeakBarTop cabinet.

Guests of Cache Creek Casino Resort in Brooks, Calif., Morongo Casino Resort & Spa in Cabazon, Calif., San Manuel Casino in Highland, Calif. and Golden Nugget Hotel & Casino in Las Vegas, Nev. can be among the first players in the world to experience IGT’s much-anticipated PeakBarTop cabinet.

“Launching the PeakBarTop builds on IGT’s decades of commanding leadership in video poker and positions us to transform the entire bartop market segment. It provides our customers with a compelling, technologically advanced cabinet for market-dominating IGT video poker games such as Game King, Super Star Poker and Ultimate X Poker, in addition to Proven Performer IGT slot games such as Scarab and Solar Disc,” Nick Khin, IGT’s Chief Operating Officer for Gaming, said.

“IGT customers can launch the PeakBarTop with confidence, knowing that it’s backed by the gaming industry’s most talented and experienced video poker product team and extensive focus group testing with players, operators and bar staff,” Nick Khin added.

The PeakBarTop cabinet includes a 23-inch curved, full-HD display, a front-mounted ticket printer and an embedded card reader. The PeakBarTop cabinet also includes features such as enhanced lighting and sound, a USB mobile device charging port, a play-level indicator for service staff, and embedded Bluetooth technology that enables operators to seamlessly integrate with IGT’s cashless gaming systems technology.

The PeakBarTop cabinet supports an expansive library of IGT game content. In addition to housing the most popular video poker titles of all time, the PeakBarTop portfolio offers new IGT video poker games such as Ultimate X Bonus Streak Poker, exciting Keno games such as Da Vinci Diamonds Keno, Proven Performer slot games such as Mistress of Egypt and a variety of roulette games.

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Gambling in the USA

Gaming Americas Weekly Roundup – June 29-July 5

Niji Narayan

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Reading Time: 2 minutes

Welcome to our weekly roundup of American gambling news again! It was again an eventful week at the USA, despite the still-active virus attack.

Here, we are going through the weekly highlights of the American gambling industry which includes casino reopening, financial Reports, recruitments, partnerships and latest approvals. Read on and get updated.

Casino Reopening

MGM National Harbor Resort and Casino has resumed its operations on June 29. The casino has implemented many safety measures such as “contactless” check-ins, single-use baccarat cards and Plexiglass at the casino.

Recruitments

Scientific Games Corporation has appointed Eileen Moore Johnson as its Executive Vice President and Chief Human Resources Officer. Eileen joins Scientific Games from Caesars Entertainment.

Sportech PLC has announced key changes to its Bump 50:50 team. The changes include the promotion of Dave Kurland to the position of President.

Jamul Casino has promoted Benjamin Petell to Vice President of Non-Gaming Operations. In his new role at Jamul Casino, Petell will oversee retail, food & beverage, facilities, security, and environmental services.

Financial Reports

Bragg Gaming Group has released its financial results for Q1 2020. Bragg reported revenue growth and Adjusted EBITDA growth for the period. The Group achieved revenue of €8.8m during Q1 2020. The Group’s AEBITDA was €0.8m, representing 100% growth over Q1 of 2019.

Casino table games developer and distributor Galaxy Gaming has published its financial results for the fiscal quarter ended 31 March 2020. The report shows that revenue decreased 15.9% to $4494K, AEBITDA decreased 25.7% to $1501K1 and net income decreased 74.7% to $117K.

Partnership

BenQ America’s esports division ZOWIE has partnered with Helix eSports. As per the deal, ZOWIE will outfit Helix eSports’ gaming and virtual reality centres with top-performing esports monitors and provide prizes for upcoming competitions.

Penn National Gaming has entered into a deal with sports data and content provider Sportradar to use official National Football League data on its sports betting platforms.

DraftKings Inc. has extended its deal with the US-based sports data firm Stats Perform. The deal provides DraftKings access to Stats Perform’s unparalleled sports data feeds for use in its daily fantasy sports contests and DK Live, the company’s play-by-play fantasy app.

The Arkansas Scholarship Lottery has extended its strategic partnership with Camelot Lottery Solutions for a further two years. The agreement will see Camelot Lottery Solutions continue to work with the ASL to help implement its commercial plans, with a greater focus on data-driven insights and business intelligence.

Innovative boutique studio Espresso Games has integrated its gaming content into Rivalo’s network and its games are now available for the Colombian market.

New Approvals

The Nevada Gaming Control Board has approved the amendments that will allow cashless gaming in all casinos. The proposal had been discussed and postponed for a long time, but hygiene concerns due to the Covid-19 pandemic have increased the urgency for the regulation to finally be adopted.

New Study

The UNLV International Gaming Institute (IGI) has announced a new study to assess the sports betting and internet gaming markets in the US. The study will address many unanswered questions on the potential impacts of legalising sports betting and internet gaming across the US.

Lawsuit

The Culinary Union has filed a lawsuit on behalf of Culinary Union members who work in casinos on the Las Vegas Strip in order to protect workers and their families from the spread of COVID-19 in the workplace.

Compliance

Caesars Entertainment Corporation has announced that the Federal Trade Commission (FTC) has accepted a proposed consent order which concludes the FTC’s review of Caesars’ pending merger with Eldorado Resorts.

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