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Wire NORTH AMERICA


Louisiana Betting Could Generate $2.5bn Louisiana’s sports betting industry will attract more than US$2.5bn in annual


sports wagers and more than $200m in operator revenue, according to estimates


Te bill calls for a 15 per cent levy on online bets and 10 per cent rate on retail betting. At that rate, online and retail sports betting would yield $30m in annual taxes.


LOUISIANA SPORTS BETTING


MICHIGAN – Michigan's sports betting volume slumped for the second consecutive month in May, while online casinos remained achingly close to the state's first $100m revenue month.


"Online casinos don't face the same dramatic seasonal variances as sports betting does, so they act as a steadying force for the industry," said Jessica Welman, analyst for PlayMichigan.com. "On the other hand, sportsbooks have been hit by the seasonality of sports betting and struggling local teams. It appears they will have to wait until the end of summer before substantial growth can be expected again."


VIRGINIA – AGEM’s Board of Directors has approved a contract extension for Executive Director Marcus Prater through February 2022 before transitioning to new leadership beginning March 1, 2022. Prater has been Executive Director since March 2008 and the Board has established a search committee to identify his replacement. The Board also


approved a one-year contract extension for AGEM Director of Responsible Gaming Connie Jones, now in her eighth year with the organisation.


US – Sightline Payments, a FinTech company specialising in digital payments solutions for the sports betting and casino markets, has bought Joingo, a mobile engagement and loyalty platform for the casino gaming industry.


Joingo’s patented mobile loyalty platform allows casino brands to reach their mobile users with personalised and interactive mobile marketing campaigns. The acquisition provides Sightline the ability to offer casino customers a turn key cashless gaming solution as well as a broader suite of products to help North American casinos enhance loyalty and personalisation for customers, and drive increased visitation and loyalty for properties.


TRINIDAD & TOBAGO – The Trinidad and Tobago Gambling (Gaming and Betting) Control Bill, 2021 passed in the Senate at the Red House, Port of Spain mid-June. A total of 24 Senators voted for the bill, including all nine independent senators. Finance Minister Colm Imbert said he recognised how important it is to regulate this sector and when he entered office in 2015. The minister said estimates for the collection of taxes from the sector once the commission is fully established is at least $500m from a TT$16bn (US$235m) industry. According to Mr. Imbert, the government is currently collecting approximately TT$75m from the sector.


P24 WIRE / PULSE / INSIGHT / REPORTS


Louisiana will open the doors to a sports betting industry that will use rich natural advantages to turn the state into a market that will attract more than $2.5bn in annual sports wagers and more than $200m in operator revenue, according to estimates by PlayLouisiana.


“Louisiana should be able to outperform its relatively small population,” said Eric Ramsey, analyst for PlayUSA.com. “Louisiana shares many of the same attributes that have made New Jersey and Nevada sports betting meccas. Te state has long been home to a thriving casino industry, New Orleans itself can draw tourists from all over the country, and Louisiana is not bordered by another state that offers both retail and online sports betting.”


Gov. John Bel Edwards is expected to sign the bill that will legalise retail and mobile sports betting across the state. Currently, 21 states and Washington D.C. have an active legal sports betting industry in some form, and Louisiana would be joining nine other states that have approved sports betting in some form and are preparing for launch later this year or next.


With a population of more than 4.6 million,


GAN pens multi-year rights deal with Incredible Technologies


US


GAN has reached an agreement with Incredible Technologies to obtain the exclusive online rights to all current and future Incredible Technologies' online games, which will grow to over 110 games during the term of the contract.


GAN will immediately begin deriving online content licensing fees from Incredible Technologies’ existing online operations in New Jersey. As a result of the long-term deal, GAN's combined exclusive online slot partners content represented approximately seven per cent of all slots sold in the US during 2020.


For IT, the deal enables them to work with a single long-term partner with an existing major online distribution network in


Louisiana should generate $2.5bn in retail and online sports wagering by the market’s third year, according to PlayLouisiana projections. Assuming an approximate eight per cent “hold,” which is the percentage sportsbooks keep after paying out winning bets, those wagers would produce $200m in operator revenue. Te bill calls for a 15 per cent levy on online bets and 10 per cent rate on retail betting. At that rate, online and retail sports betting would yield as much as $30m in taxes annually.


Among states with an active sports betting industry, Louisiana most closely compares to Colorado, which is home to 5.8m people. Colorado launched its industry under difficult circumstances in May 2020, but still managed $2.3bn in wagers and $147.4m in gross gaming revenue in its first year.


Louisiana is a smaller state, but it has the potential to drive significantly more wagering than its population might suggest. One of those attributes includes the unique structure of Louisiana's sports betting bill, which will allow sports wagering kiosks to be placed at thousands of bars, restaurants and truck stops across most of the state.


the U.S. while focusing resources to increase their online portfolio rapidly.


IT will provide GAN's Platform and Super RGS clients with an exclusive and substantial portfolio of online casino slot gaming experiences today and over the coming years. IT will now distribute their entire online games library only through the GAN's Platform or Super RGS in the US.


Daymon Ruttenberg, SVP of Gaming of Incredible Technologies, stated: Since our company's founding, we have been committed to creating innovative and exciting ways to engage players with new technologies and capabilities. We know that GAN shares this commitment, and we look forward to bringing new online experiences to our players through GAN's extensive online distribution network. Together, we will be drivers of the U.S. iGaming market as it continues to grow.”


Nevada


Following a US$200m renovation project, Harrah's Las Vegas now features 2,542 redesigned guest rooms, a complete casino floor remodel and two new LED marquees at the north and south entrances. Guests can also enjoy a variety of hotel, dining and entertainment offerings including Te Spa at Harrah’s Las Vegas, PizzaCake by Buddy Valastro and Donny Osmond's first-ever solo residency.


Harrah’s Las Vegas casino floor features upgraded lighting, floor and ceiling tiling, carpeting and modern restrooms. Upon entering the main lobby, guests can admire the oversized ombré art piece with purple and blue hues behind the front desk. Additional design highlights include marble floors and counters, as well as contemporary bronze columns with wood paneling.


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