Wire NORTH AMERICA
Commercial Gaming Sets Records
New Jersey - Atlantic City profits top 2019 Atlantic City’s nine casinos and two internet-only gaming operators generated $281.2m in the third quarter of 2023, marking a 7.5 per cent fall from last year’s third quarter. The good news was that the East Coast’s casinos were more profitable in the third quarter of 2019, prior to the pandemic, due mainly to strong revenue from its two newest casinos; Hard Rock and Ocean.
Figures released by the state Division of Gaming Enforcement show that Hard Rock posted a gross operating profit of $44.3m in the third quarter, an increase of less than one per cent from a year earlier whilst the Ocean Casino Resort generated a profit of $43m, an increase of more than 10 per cent from a year earlier. Four casinos experienced the negative effects of a cybersecurity issue.
Jane Bokunewicz, Director of the Lloyd Levenson Institute at Stockton University, said: “In keeping with the experiences of many resort communities along the New Jersey shore, Atlantic City saw a bit of a cooling off in summer 2023 compared to the pent- up post-pandemic energy seen in 2021 and 2022.”
New York - Genius Sports pens FanDuel deal Genius Sports Limited has announced an expanded agreement with FanDuel Group to deliver its BetVision streaming solution. FanDuel will unveil BetVision as part of its NFL offering through Genius Sports. As the exclusive distributor of NFL Official League Data, Genius Sports will continue to provide FanDuel with access to the league’s proprietary Next Gen Stats data as well as the official sports betting data feed.
BetVision will allow FanDuel customers on mobile and tablet devices to take their live NFL viewing experience to the next level in the FanDuel sportsbook app. By incorporating BetVision into the FanDuel Sportsbook, fans will be able to watch select NFL games inside the app featuring live stat tracking used by some of North America’s largest broadcast and streaming partners.
North Carolina - bet365 partners with Hornets bet365 has signed an exclusive partnership with Hornets Sports & Entertainment to become the ‘Official Mobile Sports Betting Partner of the Charlotte Hornets.’ bet365 will receive branding and signage at Spectrum Center (the Hornets Arena), website, social media platforms, and the Hornets App.
With this agreement in place, the Hornets has become the fifth US professional sports team in bet365’s American sports portfolio, along with the Washington Commanders (NFL), Colorado Rockies (MLB), Cleveland Guardians (MLB) and San Antonio Spurs (NBA).
P16 WIRE / PULSE / INSIGHT / REPORTS
Industry revenue grew year-over-year across all verticals in Q3 2023, with both land-based casino and iGaming generating all-time quarterly records.
Te third quarter of 2023 marked the US commercial gaming industry’s best third quarter on record, generating $16.17bn, according to the American Gaming Association’s (AGA) Commercial Gaming Revenue Tracker. Te total is up 6.1 per cent year-over-year and represents the 11th straight quarter of annual revenue growth.
Q3 2023 also marks the second-highest grossing commercial gaming quarter of all-time, behind Q1 2023. Despite early indicators of a slowdown in the fourth quarter, the industry is poised for a third straight record year, pacing 9.9 per cent ahead of 2022 through September.
“With growth across land-based and online gaming, we are delivering career opportunities for millions of Americans and strong economic contributions to communities across the country through increased tax revenue,” said AGA President and CEO Bill Miller. “Our sustained momentum reflects gaming as a first- choice entertainment option for millions of American adults.”
State and local governments in gaming states Iowa
Hard Rock Hotel & Casino – Sioux City is shutting down its digital sportsbook, citing a change in ownership as the driving force behind the decision.
Te casino announced on its website that 28 November will mark the final day for users to place wagers through the sportsbook’s website and app. Existing Hard Rock Sportsbook Iowa accounts will remain accessible until 27 December.
Hard Rock Hotel & Casino Sioux City will continue to accept bets on-site. Online account holders are encouraged to plan their account activities accordingly. On 28 December, the website and app will be deactivated. Any remaining funds in user accounts, as well as winnings, will be disbursed via checks.
saw an influx of direct gaming taxes in the third quarter. Commercial gaming operators paid an estimated $3.43bn in taxes tied directly to gaming revenue, an increase of 4.7 per cent year-over-year.
Industry revenue grew year-over-year across all verticals in Q3 2023, with both land-based casino and iGaming generating all-time quarterly records. As expected, the industry’s pace of growth slowed for a second consecutive quarter due to tougher year-over-year comparisons. Combined traditional slot machine and table game revenue reached $12.49bn for the quarter, up 1.8 per cent year- over-year, while iGaming grossed $1.52bn, up 26 per cent year-over-year.
Combined in-person and online sports betting also recorded a strong quarter, with revenue up 22.8per cent year-over-year to $2.15bn. Tis growth was mostly driven by Maryland (online), Massachusetts, Nebraska and Ohio – states that were not operational a year ago. Te vertical is set for a new record year with Americans wagering $79bn through the first nine months of 2023, a 32.7 per cent increase from last year.
Connecticut New ESPN BET app launches in 17 states
Te new ESPN BET app and website is available across the 17 states in which PENN operates online sports betting, subject to final approvals.
ESPN BET is a newly-branded online sportsbook operated by PENN Entertainment that combines ESPN’s brand and multi- platform reach with PENN Entertainment’s proprietary in- house technology and sportsbook operational expertise.
Penn’s rights to the ESPN brand will run for a decade with an option of extending for another 10 years. Alongside the $1.5bn licensing deal, Penn also said it would give ESPN rights worth about $500m to buy shares in Penn. ESPN Bet is a rebranding of sports-betting app, Barstool Sportsbook. In August, Penn said it
sold Barstool Sports back to its founder Dave Portnoy.
Wagers can only be placed while physically located within the borders of a state where ESPN BET is licensed to offer sports betting. However, users can log in, deposit, withdraw, and check transaction history from anywhere in the United States.
ESPN banned reporters and team insiders from placing bets on the new ESPN BET platform as it seeks to uphold the integrity of its editorial output. Te 17 states where ESPN BET is now available are: Arizona, Colorado, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, New Jersey, Ohio, Pennsylvania, Tennessee, Virginia, and West Virginia.
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