Wire NORTH AMERICA
US Revenue Hits Another Quarterly High
US - AGA research flags public support American support for legal sports betting has grown significantly since the federal ban on sports wagering was lifted in 2018, according to new American Gaming Association (AGA) research. Key findings show 85 per cent of American adults agree with the Supreme Court’s decision to strike down the Professional and Amateur Sports Protection Act (PASPA), compared to 63 per cent in 2019.
A total of 77 per cent of American adults support legalisation in their state of residence whilst 39.2m American adults have placed a traditional sports wager in the last 12 months. 78 per cent of bettors place all or most bets through regulated operators and 77 per cent of online sports bets are now placed through regulated operators.
“American adults have always enjoyed betting on sports, and overwhelmingly value the ability to bring their action into a legal market, close to home,” commented AGA President and CEO, Bill Miller. “The rapid spread of legal sports betting — fuelled by regulated, responsible entities — has contributed to communities and established consumer protections by migrating betting away from the illegal market.”
Kentucky - Caesars Sportsbook goes live Caesars Sportsbook, the sports wagering platform for Caesars Entertainment, Inc., announced agreements with Keeneland and Red Mile Gaming & Racing in Lexington, Kentucky. The agreements grant the operator market access to offer legalised mobile sports wagering in Kentucky and include plans to open Central Kentucky’s only brick-and- mortar retail sportsbook locations, subject to regulatory approvals from the Kentucky Horse Racing Commission.
“Keeneland and Red Mile are iconic horse racing venues with an important legacy in the state of Kentucky,” commented Eric Hession, President of Caesars Digital. “Customers in the region have long enjoyed our world-class Caesars destinations and, most recently, our horse racing wagering app, Caesars Racebook.”
Kentucky - Churchill Downs utilises Venuetize Lion Gaming has penned a partnership with
Oddin.gg, the B2B provider of esports betting solutions. The strategic integration will accelerate Lion Gaming’s sportsbook platform by incorporating
Oddin.gg’s esports offering.
Oddin.gg boasts the highest number of live esports markets available in the market . The integration will enable Lion Gaming to provide operators with an extensive range of live esports events and betting options, ensuring that players have access to one of the most comprehensive selection of esports markets available.
P16 WIRE / PULSE / INSIGHT / REPORTS
While land-based gaming remained a key driver of overall revenue, sports betting and iGaming enjoyed strong growth in the first quarter of 2023.
Te US commercial gaming industry showed no signs of slowing down in the first quarter of 2023, with gaming revenue growing at an annual rate of 15.5 per cent, according to the American Gaming Association. Q1 revenue, which includes traditional casino games, sports betting and iGaming, reached $16.6bn, marking an eighth consecutive quarter of record- breaking reporting for the industry as the quarterly growth rate accelerated from a 10 per cent average in the previous three quarters.
Notably, this acceleration was driven by record revenue across all gaming verticals. Te combined revenue from land-based casino slot machines and table games was $12.3bn, up seven per cent, while sports betting brought in $2.79bn, an increase of 70.1 per cent, and iGaming totaled $1.48bn, up 22.7 per cent. Despite more challenging comparisons, the industry closed out the quarter with a new single-month revenue record in March with $5.9bn, an increase of 10.3 per cent annually.
In a testament to the overall strength of the US commercial gaming industry at the start of 2023, nearly every commercial gaming
US
MGM Resorts International’s subsidiary, LeoVegas, has entered into an agreement to acquire the majority of game developer Push Gaming. Te company is a proprietary content provider that offers more than 30 games, such as Razor Shark, Wild Swarm, Big Bamboo, and Jammin' Jars.
Te acquisition is the first major investment by LeoVegas since becoming part of MGM Resorts last year. Push Gaming's proprietary technologies and intellectual property will bolster the content production capabilities of LeoVegas and support its plans for expansion. As part of LeoVegas, Push Gaming will remain under the same management and its 100+ employees will continue to develop games, distributed via their own platform and remote gaming server.
jurisdiction experienced an increase in annual revenue, with only Mississippi reporting an annual decline. Eighteen states broke all-time quarterly records for total commercial gaming revenue, including Arkansas, Connecticut, Florida, Indiana, Louisiana, Massachusetts, Michigan, Montana, Nebraska, Nevada, New Hampshire, New Mexico, New York, Ohio, Oregon, Pennsylvania, Rhode Island and Virginia.
While land-based gaming remained a key driver of overall revenue, sports betting and iGaming enjoyed strong growth in the first quarter of 2023, setting new records for quarterly revenue. In the first quarter, sports betting generated revenue of $2.79bn, surpassing the previous quarter’s high of $2.61bn and showing a 70.1 per cent year-over- year increase, largely thanks to the legalisation in Ohio and Massachusetts.
Ohio quickly established itself as a major sports betting market, generating $387.3m in revenue and $2.49bn in handle during the state’s first quarter of operation, making it the second largest sports betting market in the country.
Illinois Bally’s could float ownership of Chicago casino
Bally’s Corporation is looking to float the ownership of its future Chicago casino, having confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission.
Bally’s was selected to be the recipient of its sole casino licence and the developer to create a world-class casino-resort and entertainment experience in Chicago on the site of the Tribune Publishing Center.
Te draft registration statement relates to the proposed initial public offering of ownership interests of Bally’s Chicago, Bally’s planned resort and casino in Chicago, Illinois. Te ownership interests would be offered to residents of the City of Chicago that satisfy the qualification requirements in the Host
Community Agreement between Bally’s Chicago and the City of Chicago.
Te company said: “Te number of ownership interests to be offered, the terms thereof and the price range for the proposed offering have not yet been determined. Te initial public offering is expected to occur after the SEC completes its review process, subject to market and other conditions.”
Te proposal from Bally’s entails a $1.7bn casino project and hotel on a portion of the current industrial Tribune Publishing Center. Bally’s is believed to be close to finalising a deal with the Chicago Tribune’s parent company to move the paper’s printing plant out of the Freedom Center along the Chicago River, as it looks to develop the casino and entertainment complex on the site.
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108 |
Page 109 |
Page 110 |
Page 111 |
Page 112 |
Page 113 |
Page 114 |
Page 115 |
Page 116 |
Page 117 |
Page 118 |
Page 119 |
Page 120 |
Page 121 |
Page 122 |
Page 123 |
Page 124
