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Gambling in the USA

Pennsylvania Sportsbooks Lose Out On $220 Million In Bets While Online Casinos Hit New Revenue Record In March

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With $24.3 million in revenue, online casinos and poker lone bright spot for the industry, according to PlayPennsylvania

LAS VEGAS — The handle for Pennsylvania’s retail and online sportsbooks shrunk in March to its smallest monthly total since August 2019, while online casinos and poker exploded to a new record. Coronavirus shutdowns loom over the gambling industry, costing sportsbooks $220 million in wagers in March, according to PlayPennsylvania estimates, and sending home-bound bettors to online casinos and poker rooms in record numbers.

“Pennsylvania’s gaming industry is navigating waters that are unprecedented anywhere,” said Dustin Gouker, lead analyst for PlayPennsylvania.com. “It’s an industry that employs thousands in Pennsylvania and generates millions of dollars in tax revenue, and it is not designed to be closed. Growth in online casinos is helping, but it can’t entirely make up for the revenue lost from sports betting and land-based casinos being shut down.”

Pennsylvania sportsbooks appeared headed for its first month with a handle of more than $350 million in revenue. But with the sports world largely shuttered after March 11, Pennsylvania’s handle slumped to just $131.3 million for the month, according to official data released Thursday. That is down 60.2% from $329.8 million in February, though up from $44.5 million in March 2019, before online sports betting launched.

March’s revenue hit $8.6 million, up from $4.7 million in February. The win resulted in $2.3 million in tax revenue for the state.

The suspension of the NBA season on March 11 sent shockwaves through the sports world, leading to the eventual indefinite shut down of most major events. That included the cancelation of March Madness, which would have attracted $100 million in bets at Pennsylvania sportsbooks, according to PlayPennsylvania estimates. The closures have limited books to futures betting, mostly on the NFL, and some international sports.

“The timing of the coronavirus shutdowns was particularly damaging to Pennsylvania sportsbooks, costing the industry millions in basketball-related bets,” Gouker said. “The first weekend of March Madness is the second-biggest sports betting event in the U.S., behind only the Super Bowl, and its cancellation leaves no feasible way to make up that revenue. Obviously, there are dramatic health and economic concerns for everyone right now, but the loss of revenue will be felt by Pennsylvania’s gambling industry for quite some time.”

$118.3 million, or 90.1%, of the state’s March handle came from online betting. FanDuel Sportsbook at Valley Forge Casino led the market with $53.7 million in March wagers, down from $138.5 million in February. That yielded $2.8 million in taxable revenue, up from $146,080 in February. FanDuel was followed by:

  • DraftKings at The Meadows ($28.6 million in handle, down from $72.3 million; $1.5 million taxable revenue, up from $1 million)
  • Rivers-Philadelphia ($12 million in handle, down from $24.7 million; $601,984 revenue, down from $784,565)
  • Rivers-Pittsburgh ($8.2 million in handle, down from $18.9 million; $535,860 revenue, down from $680,514)
  • Parx Casino ($7.9 million handle, down from $19.9 million; $618,159 revenue, down from $818,817)
  • Fox Bet at Mount Airy ($6.1 million handle, down from $14.4 million; $159,013 revenue, down from $539,372)
  • Unibet at Mohegan Sun Pocono ($1.2 million handle, down from $4 million; $19,750 revenue, down from $86,558)
  • Presque Isle Downs ($483,429 handle, down from $1.4 million; $23,905 revenue, down from $37,258)
  • Harrah’s ($139,790 handle, -$18,075 revenue)

Rivers-Philadelphia led the retail market with a $2.3 million handle, down from $7.2 million in February. That yielded $146,281 in revenue, down from $383,793. Rivers-Philadelphia was followed by:

  • Parx ($2 million handle, down from $5.9 million; $168,090 revenue, up from $127,231)
  • Rivers-Pittsburgh ($1.8 million handle, down from $6 million; $130,270 revenue, down from $809,858)
  • South Philadelphia Race and Sportsbook ($1.1 million handle, down from $2.7 million; $87,757 revenue, down from $181,236)
  • Presque Isle ($1.1 million handle, down from $1.7 million; $35,838 revenue, up from $12,865)
  • Harrah’s Philadelphia ($1 million handle, down from $2.9 million; $94,056 revenue revenue, up from -$64,494)
  • Valley Forge Casino ($859,504 handle, down from $2.5 million; -$40,280 revenue, up from -$75,306)
  • Mount Airy ($769,909 handle, up from $589,668; $14,344 revenue, up from -$20,065 in revenue)
  • Hollywood Casino at Penn National Race Course ($571,511 handle, down from $2.1 million; $53,730 revenue, up from -$150,053)
  • Mohegan ($463,552 handle, down from $1.7 million; -$15,336 revenue, down from $19,561)
  • Oaks Race and Sportsbook ($284,736 handle, down from $856,374; -$8,526 revenue, down from $17,529)

“The bottom line is that Pennsylvania’s sportsbooks will not be healthy again until the sports world begins to reopen,” Gouker said. “No one yet knows for sure when that day will come. But sports leagues everywhere are trying to figure out ways to begin games again, so there is at least some reason for some optimism.”

Online casinos and poker boom

With land-based casinos closed and many of the state’s residents home-bound, Pennsylvania’s online casinos and poker rooms boomed to dramatic new records. Combined, online casino games and poker generated a record $24.3 million in revenue, easily surpassing the previous best of $19.5 million in revenue set just last month. March’s gains yielded $5.9 million in tax revenue for the state.

Poker alone generated $3.1 million in March revenue, all by Mount Airy/PokerStars, the lone online poker operator in the state. Previously, the all-jurisdiction record for poker revenue in a month was $3.1 million, set in October 2016 in New Jersey. The Garden State also set a new record in March with $3.6 million.

Online casinos boosted monthly revenue to $21.1 million on $871.6 million in wagers, which was up from $547.6 million in bets in February.

A high tax rate and technological issues had slowed the development of Pennsylvania’s online casinos and poker industry, and even now those issues continue to impede the market. But March’s gains were much-needed for an industry with nowhere else to turn.

“Pennsylvania’s online product has been slow to develop, but the revenue the industry is generating now is vital to the gaming industry and the state budget,” Gouker said. “Ideally, Pennsylvania’s online casino industry would’ve had the opportunity to mature more quickly. But it is definitely better than if it didn’t exist at all, as is the case in most states.”

Other important online data from March:

  • Rivers-Philadelphia led the market with $6.8 million in revenue on $293.2 million in wagers. That is up from $4.8 million in revenue on $194.7 million in wagers in February.
  • FanDuel/Valley Forge Casino was second with $5 million in online revenue on $250.6 million in wagers. That was down from $6.1 million in revenue on $279.3 million in wagers in February.
  • Casinos and poker generated $782,768 per day in the 31 days of March, up from $672,097 per day in the 29 days in February.

For more information on the revenue generated by Pennsylvania sports betting, visit www.playpennsylvania.com/revenue.

 

Gambling in the USA

Gaming Americas Weekly Roundup – November 27-December 3

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Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new appointments. Read on and get updated.

Latest News

Rush Street Interactive announced that a woman from Cumberland County, NJ hit the IGT MegaJackpot at BetRivers.com. The 33-year-old woman hit the jackpot with a $0.60 bet, winning $662,000 while playing at home on her mobile phone.

betJACK has received a top ranking among the nation’s largest online sports betting brands. In a comprehensive evaluation conducted by research firm Eilers and Krejcik, betJACK emerged as a top performer, securing its place alongside the nation’s best online sports betting products.

On 26 June 2024, the starting pistol will be fired in São Paulo for the first gamescom latam, the new gamescom satellite event for all of South America. This was announced at an event in Brazil by the involved partners: game – The German Games Industry Association, Koelnmesse, BIG Festival and Omelete Company.

The Global Esports Federation’s pro-series – Global Esports Tour (GET) – will kick off its next season in Rio de Janeiro, Brazil, in April 2024. Staged by the Brazilian Confederation of Games and Esports (CBGE) and strongly supported by Brazil’s National, State and Local partners. The event promises intense competition and a boost for economic and tourism development in the vibrant city.

As part of its strategic review, Kindred Group will exit the North American market with the expectations to have fully exited operations in the market by the end of Q2 2024, subject to the regulatory process. The Group also announced decisive actions to drive growth on core markets and dedicated cost reduction initiatives, which includes a reduction of over 300 employees and consultants during 2024.

Golden Nugget Casino Biloxi was one of several Coast casinos where the buffet didn’t return after the pandemic, and now that space is about to be repurposed. Golden Nugget and DraftKings announced last Tuesday the addition of a high-tech retail sportsbook area that will open in January.

iGaming Ontario (iGO)’s vision is to lead the world’s best gaming market, which includes building a safer and more enjoyable experience for all igaming players in Ontario. To support players who decide to stop or take a break from gambling, iGO is going to issue a request for proposals (RFP) in early 2024 for a centralised self-exclusion solution that will enable a player to self-exclude from all Ontario regulated igaming operators in a single registration process.

Jackpot Digital announced that it has received licensing approval from the Jackson Rancheria Tribal Gaming Agency, the regulator for Jackson Rancheria Casino Resort located in Jackson, California.

New Appointments

Aruze Gaming Global has appointed Betty Zhao as its SVP of International Operations. Formerly the Chief Operating Officer at LT Game since 2007, Betty Zhao demonstrated a unique blend of strategic vision and operational excellence in overseeing LT Game’s operations, including marketing, sales, product development and casino operations.

Betsul has appointed Fernando Garita as its new CEO. With more than two decades of expertise in the gaming industry sector, Garita served as regional director and director of business development at Betcris, in addition to having an extensive portfolio of projects throughout Latin America, as well as Asia.

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Gambling in the USA

Gaming Americas Weekly Roundup – November 20-26

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Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

Latest News

Juicy Stakes Casino has announced Thanksgiving-themed promotions, offering various incentives to its players during the festive season. The online platform aims to engage its audience through a series of offers centred around the Thanksgiving holiday. One of the main features of their promotional campaign is the Thanksgiving Dinner Lucky Pick. This offering aims to provide players with a chance to uncover surprises and exclusive deals by selecting from four Thanksgiving platters. These selections may yield Free Spins, Deposit Bonuses and Poker Promotions.

Bet365 has announced its official launch into the state of Louisiana. With this news, the Pelican State becomes the seventh state of bet365’s expansion in the US, which already includes Colorado, Iowa, Kentucky, New Jersey, Ohio and Virginia.

New York State’s Responsible Play Partnership, consisting of New York Council on Problem Gambling (NYCPG), New York State Office of Addiction Services and Supports (OASAS) and New York State Gaming Commission, continues to improve the voluntary self-exclusion (VSE) process at gaming facilities across the state. The NYCPG has launched a new free VSE Support Programme to help individuals who recognise they may have a gambling problem quickly find the resources they need to exclude themselves from gambling activities in New York.

Partnerships

Bet365 have extended their support of the US Darts Masters with a new sponsorship agreement for the World Series of Darts event in New York. The leading online betting sportsbook has enjoyed two successful years as the title sponsor of the US Darts Masters since the event moved to The Theatre at Madison Square Garden. The bet365 US Darts Masters is one of the World Series’ most popular events, with eight top PDC stars facing off against eight North American contenders across two days.

Hornets Sports & Entertainment and bet365 announced an exclusive long-term partnership under which bet365 becomes an Official Partner of the Charlotte Hornets and will become the Official Mobile Sports Betting Partner of the Charlotte Hornets subject to bet365 becoming licensed to operate in North Carolina. The partnership provides bet365 with significant branding and signage at Spectrum Centre, as well as on hornets.com, Hornets social media platforms, the Hornets App and the team’s TV and radio game broadcasts.

BetMGM has collaborated once again with actress and singer Vanessa Hudgens for its latest online casino campaign, “Library of Games”. The campaign premiered on Monday, Nov. 20. It is a 30-second fresh spot featuring Vanessa Hudgens in an iGame library, and it comes to life using the BetMGM app on her smartphone.

Pragmatic Play is achieving further expansion in Paraguay and Brazil after signing a multi-vertical deal with Giro Win. The deal encompasses the supplier’s Slots, Live Casino and Virtual Sports products, bringing its portfolio to an even greater LatAm audience. Pragmatic Play’s Slots portfolio has seen numerous player-favourite additions in recent weeks that will soon be available for Giro Win’s costumers, including new titles in the iconic Big Bass franchise as well as the renowned John Hunter series. The agreement also includes award-winning staples such as Sugar Rush and Gates of Olympus.

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Gambling in the USA

Gaming Americas Weekly Roundup – November 13-19

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Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

Latest News

Spatial announced its first season of in-house games; Punch Hero, Racing Empire, Infinite Ascent, Shooty Shooty, Mostly Only Up, Buddy Blitz, & Cyber Punk: Neon Ghost, as well a host of externally built games from leading gaming studios, IzyPlay and Zaibatsu. This marks the first of several releases for Spatial in time for the holidays, with more Spatial-built and external games to be announced, giving developers the power to build the most beautiful games for the browser straight out of Unity – redefining the boundaries of web-based gaming.

Great Canadian Casino Resort Toronto announced that its brand-new, state-of-the-art poker room is now fully open with all 30 tables operating around the clock, seven days a week and the introduction of its “Bad Beat” Jackpot. Located on a private floor, this exciting addition to Canada’s largest and newest casino resort caters to the vibrant poker community’s growing demand.

Bragg Gaming Group Inc. announced that President and Chief Operating Officer, Lara Falzon, has provided notice that she will resign from her positions, effective December 31, 2023. Ms. Falzon will remain actively involved in the day-to-day operations of the Company until this date.

Everi Holdings Inc., a premier provider of land-based and digital casino gaming content and products, financial technology, player loyalty solutions and bingo, announced the deployment of Entegrity, Everi’s fourth-generation Anti-Money Laundering (AML) solution, at Prairie’s Edge Casino Resort in Granite Falls, Minn.

The Registrar of the Alcohol and Gaming Commission of Ontario (AGCO) has issued PointsBet Canada Operations 1 Inc., a registered internet gaming operator, a Notice of Monetary Penalty totaling $150,000 for failing to meet Ontario’s responsible gambling requirements.

International Game Technology (IGT) announced that it recently installed its Floor Manager systems technology at Casino of Mendoza in Godoy Cruz, in the province of Mendoza, Argentina, marking the solution’s first deployment in the region.

Partnerships

International Game Technology PLC announced that it is growing its sports betting presence in Puerto Rico via a multi-year IGT PlaySports technology and services agreement with Ponce Plaza Hotel & Casino. Located in Ponce, Puerto Rico, the casino will leverage IGT PlaySports’ award-winning technology and experienced trading advisory services team to power Puerto Rico’s first casino brand-led retail and mobile sportsbook, PlayBets by Ponce Plaza.

Paysafe, a leading payments platform, announced a new partnership with Fanatics Betting and Gaming, the subsidiary of global digital sports platform Fanatics Holdings Inc. Under the deal, Fanatics Sportsbook has integrated with Paysafe to offer its customers traditional card payments and other alternative payment methods (APMs).

Elys Game Technology Corp., an interactive gaming and sports betting technology company, announced a market access agreement with Caesars Entertainment that unlocks immediate access to the lucrative Colorado sports betting market. This strategic agreement signals Elys’ first entry into the North American mobile sports betting landscape.

emerchantpay, a leading global payment service provider and acquirer, announced that it will further support well-established gambling operator Pinnacle in the Ontario market. The announcement comes as the two businesses celebrate the one-year milestone of this strategic partnership facilitating the operator’s expansion in Ontario.

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