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PGCB Reports Initial Sports Wagering Revenue

George Miller

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PGCB Reports Initial Sports Wagering Revenue
Photo Source: ninersnation.com
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The Pennsylvania Gaming Control Board posted on its web site its initial monthly report for Sports Wagering. The initial report encompasses just the returns from November 15th to 30th for Hollywood Casino at Penn National Race Course which was the first to launch a sports wagering facility in the Commonwealth.

The monthly report, which will include additional facilities as they launch sportsbooks, provides a breakdown of the total handle collected, gross revenue, and taxes owed to the Commonwealth.

During the aforementioned November period, Hollywood Casino at Penn National Race Course reported a handle of $1,414,586.55 and adjusted gross revenue after payouts of $508,996.60.

A total of $183,238.77 of tax revenue was generated and returned to the Commonwealth from sports wagering at Hollywood Casino during this two-week period:

State Tax (34% of adjusted gross revenue):

$173,058.84

Local Share Assessment (2% of adjusted gross revenue):

$10,179.93

Two additional facilities, Rivers Casino in Pittsburgh and SugarHouse Casino in Philadelphia commenced sports wagering during December. Revenue figures for those facilities will be included in next month’s report.

 

About the Pennsylvania Gaming Control Board:

The Pennsylvania Gaming Control Board is tasked to oversee all aspects of the state’s casino industry, along with oversight of new gaming initiatives created through amendments to the Race Horse Development and Gaming Act recently approved by the signing of Act 42 of 2017. To date, the PGCB regulates the play within the Commonwealth of Fantasy Sports Contests along with three casino operators offering Sports Wagering. Additional new gaming initiatives are expected to launch in the coming months.

The Commonwealth’s casino industry currently consists of 10 stand-alone and racetrack casinos in operation, along with the two smaller resort casinos.  These facilities collectively employ 17,000 people and annually generate approximately $1.4 billion in tax revenue from slot machine and table games play. The largest portion of that money is used for property tax reduction to all Pennsylvania homeowners.

Additional information about both the PGCB’s gaming regulatory efforts and Pennsylvania’s gaming industry can be found at gamingcontrolboard.pa.gov. You can also follow the agency on Twitter by choosing @PAGamingControl.

 

Source: Pennsylvania Gaming Control Board

George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Gambling in the USA

Caesars Gets FTC Clearance for Sale of Rio All-Suite Hotel and Casino

Niji Narayan

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Caesars Gets FTC Clearance for Sale of Rio All-Suite Hotel and Casino
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Caesars Entertainment Corp. has got clearance from the Federal Trade Commission for the sale of its Rio All-Suite Hotel and Casino to a New York-based real estate group.

Caesars announced last month that it has entered into an agreement to sell Rio All-Suite Hotel and Casino to a company controlled by a principal of Imperial Companies of New York City for $516.3 million.

The hotel and casino resort’s new owner will lease it back to Caesars for at least two years. Under their lease agreement, Caesars will pay $45 million in annual rent.

While the FTC clearance is an important step towards the finalisation of the deal, it also needs shareholder and regulatory approval from Nevada casino regulators.

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Gambling in the USA

Digitain set to showcase latest U.S. strategy and products at G2E 2019

George Miller

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Digitain set to showcase latest U.S. strategy and products at G2E 2019
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Leading provider heads to Las Vegas with pioneering sportsbook and a G2E gameplan for expansion

Leading platform provider Digitain is on site and all set for next week’s Global Gaming Expo 2019, which runs from 14-17 October at the Sands Expo Convention Center, Las Vegas.

Spearheaded by a dedicated sales force with proven experience delivering industry-leading B2B solutions across online and retail sports betting technology, the Digitain team will be on hand to advise delegates as to its North American strategy, featuring a wide-ranging product portfolio and trading tools which lead the field.

After PASPA’s landmark repeal last year, regulated state-by-state sports betting is gathering progressive pace and traction. Accordingly, G2E 2019 – the largest igaming gathering of the year stateside – provides a must-attend conference at which to both distil and illuminate the North American opportunity, as the U.S. market continues to coalesce and crystallise its potential.

Digitain’s definitive sportsbook solution and trading tools are tailor-made for the demands of live betting in a fragmented legislative landscape, facilitating rapid integrations across the world, all supported by centralised control systems.

In total, this sportsbook product covers 65 sports, covers 7,500 leagues, and offers more than 3,000 betting markets. It also offers odds on 35,000 live events each month, while its casino solution has 3,000-plus games from major casino suppliers (such as Novomatic, Microgaming, NetEnt and Playson).

Simon Westbury, Digitain’s Director for International Business Development, said: “G2E 2019 provides us with a perfect venue at which to underline the quality and innovation we bring to the sports betting industry. Our platform was specifically designed for fast deployment across multiple territories.

“Unlike the cookie-cutter solutions that increasingly dominate the U.S. landscape, Digitain can work flexibly with operators state-by-state to offer tailored front-ends which speak to representing their individual brands accurately, thanks to a customisable user interface. It’s a brave, new world.”

Suren Khachatryan, CCO at Digitain, added: “I’m hugely optimistic about the U.S. market for sports betting, and requests for proposal in the U.S. have been very encouraging. We’re noticing a surge in interest from southern states such as Mississippi, while even the likes of New Jersey and Nevada retain potential. It’s a fascinating time, particularly with more mature states about to release figures on the current NFL season (certain to be a core revenue-driver). But it’s still an embryonic period where operators must not make rushed decisions in the collective stampede to market.”

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Gambling in the USA

DWG to attend G2E

George Miller

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DWG to attend Global Gaming Expo
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Supplier heads to Vegas to explore future opportunities

Leading games provider and operator Design Works Gaming (DWG) will be attending G2E next week as it looks to strengthen its global position across its three business verticals.

DWG operates five social casinos, has a strong reputation for creating hit land-based slot games and will soon be entering the real money gaming market in several territories, including Europe and New Jersey.

As an omni-channel supplier, DWG will be attending the show which takes place in Las Vegas between October 15-17, to connect with industry stakeholders and potential clients from multiple verticals and jurisdictions.

Andy Harris, CEO of DWG UK, said: “G2E has traditionally been an event for the land-based gaming industry but with the recent regulatory developments in the U.S. we have seen a shift towards online gaming and an increased interest from European operators and suppliers.

“As a company, we have also evolved to become both omni-channel and omni-market which makes G2E the perfect event for us as we look to expand in our own territory in the U.S. as well as across the pond.”

DWG uses data collected from its land-based and social operations to advise partners on which of its games will perform best in key territories around the world. This data is also used to inform the development of its future products.

All of DWG’s games and player-focused promotional tools are created in-house at its Scottsdale headquarters.

To set up a meeting with DWG at G2E, please email hello@designworksgaming.com.

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