Wire NORTH AMERICA
Michigan Sportsbooks’ Historic Debut
Michigan's online sportsbooks and casinos are off to a historic debut with more than $115m in sports bets in the final 10 days of January.
Online casinos and poker tallied $29.4m in gross receipts, or $2.9m per day in gross receipts, more than any other in US history in online casino gaming's first month.
MICHIGAN SPORTS BETTING
Texas - Sands predicts Texas casino a certainty Las Vegas Sands has said the Dallas-Fort Worth area would be its preferred location for a casino resort in Texas, adding that legalising casinos in the the Lone Star State is 'inevitable.'
The Dallas Morning News quoted Andy Abboud, Senior Vice President of Government Affairs for Las Vegas Sands, as saying: “We’ll look at the entire market of Texas, but focus primarily on Dallas because that is where the greatest bleed of money is going, across the Oklahoma border. While it has a strong tourism industry, we can enhance that. Does it happen this legislative session? We will see. Does it happen in the near future? It is inevitable. I am very optimistic and bullish on the fact that we are going to make a really compelling case. Voters are way ahead of where policymakers are.”
Mr. Abboud added that Sands would spend at least a couple of billion dollars if it was given the chance to build in Texas. He believes though that any legislation would see immediate competition from the state’s three federally recognised Indian tribes, who would be able to operate their current facilities to fully-fledged casinos.
Texas Governor Dan Patrick (pictured) is not a fan though. Speaking on a local radio show, he said: It’s not even an issue that’s going to see the light of day this session. There may be a bill filed, but I doubt it. Every year they come and they lobby to pass a bill on something, and every year I tell them the same thing; don’t talk about revenues, because the sports gaming, for example, generates $150m a year. That’s a lot of money, but it pays for about a half of a day of our year. Casinos say they’ll generate about $700m in tax dollars, a lot of money, but it’s equivalent to about three days out of 365 days a year of our total budget."
US - Global Payments expands IGT deal Global Payments Gaming Solutions has announced an expanded agreement with IGT Global Solutions Corporation, a subsidiary of IGT, to provide a range of funding solutions for cashless gaming across IGT’s full portfolio of products through its IGTPay payment gateway.
The solutions via IGTPay enable patrons to transfer funds between their registered bank accounts and IGT’s Resort Wallet Cashless Wagering Accounts for land-based gaming, as well as facilitating wagering for the company’s full portfolio of PlayDigital products, including its PlayCasino, PlayPoker, PlayLottery, and PlaySports products.
The agreement enables IGT to offer its customers and their players access to Global Payments’ VIP Preferred network, giving patrons a more seamless cashless gaming experience.
P14 WIRE / PULSE / INSIGHT / REPORTS
Combined with the state's retail handle, Michigan's sportsbooks are off to the best start of any state that offers both online and retail sportsbooks, but offers just a narrow window into the future for one of the most promising legal markets in the US, according to PlayMichigan analysts.
"Te circumstances for Michigan's online launch could not have been better ahead of two of the biggest sports betting holidays of the year," said Dustin Gouker, analyst for
PlayMichigan.com. "Ultimately, it's a small sample size, and the results are less important than sportsbooks launching and engaging sports bettors and setting the groundwork to flourish for years. By that metric, Michigan's launch was a success."
Michigan's online sportsbooks generated $115.2m in bets in the 10-day period in January, according to official data released by the Michigan Gaming Control Board. Tat produced $13.3m in total gross sports betting receipts. Promotions whittled taxable revenue down to a combined loss of $5.2m, yielding $111,696 in state tax revenue.
Combined with January's retail sportsbook handle, Michigan's sports betting hit $150.8m. Tat makes Michigan the highest total monthly handle for a state debuting online sports betting in US history. In all, online sports betting accounted for 76.3 per cent of the state's handle.
"Tere is no questioning the power of online
JCM Global expands relationship with Colonial Downs Group
Virginia
JCM Global has expanded its relationship with Colonial Downs Group, installing its iVIZION bill validator and ICB Intelligent Cash Box system at their new gaming facility in the Town of Dumfries, Virginia.
Te Dumfries location is the fifth Rosie’s in the Commonwealth of Virginia, and JCM’s iVIZION and ICB system protect assets and increase efficiencies at each property.
Tis newest installation is the latest in a long relationship
sports betting at this point," said Matt Schoch, analyst for
PlayMichigan.com. "January was just a snapshot, but online betting will eventually account for 90 per cent or more of the state's total handle, which would put it much more in line with other legal jurisdictions that offer both online and retail betting."
Michigan got off to a quick start in large part because it launched on Jan. 22 with 10 online sportsbooks. Tat list includes the nation's two largest operators FanDuel and DraftKings, as well as its main challengers. FanDuel/MotorCity Casino topped the market with $32.6m in online wagers, producing just $622,372 in gross sports betting receipts. DraftKings/Bay Mills Indian Community was second with a $28.2m handle, yielding $3.4m in gross receipts.
Online casinos and poker tallied $29.4m in gross receipts, or $2.9m per day in gross receipts, more than any other in US history in online casino gaming's first month, yielding $4.3m in tax revenue in its 10-day debut in January. Te BetMGM/MGM Grand Detroit easily led the market with $11.1m in gross receipts.
“Online sportsbooks draw more attention, but online casinos are typically a far more consistent revenue generator for state governments," Mr. Schoch commented. "With nearly $30m in 10 days, Michigan is well on its way to becoming one of the giants in online gaming.”
between JCM and the Colonial Downs team. Colonial Downs’ VP of Gaming Operations Jeff Townsend said: “Colonial Downs is always looking for the most innovative technology to create a great experience for our guests. Tat’s why we trust JCM’s bill validation solutions across our Rosie’s Gaming Emporium properties.”
JCM SVP Sales, Marketing, & Operations Dave Kubajak said, “We are humbled and honored to be chosen again by Colonial Downs. Across North America and around the world, leading operators turn to JCM to help them secure their transactions and enhance their casino operations. JCM earns that trust every day by developing leading and innovative solutions.”
Nevada
MGM Resorts will resume 24/7 hotel operations at Mandalay Bay, Park MGM and Te Mirage resorts effective March 3. Te change comes as the company sees increased interest in travel to Las Vegas. Previously, each property had implemented selective mid-week closures related to decreased business volumes due to COVID-19. “As we begin to see positive signs around the public's sentiment about traveling, coupled with important progress on the vaccination front and decreasing COVID-19 case numbers, bringing Mandalay Bay, Park MGM and Te Mirage back to full-week operations is an important step for us," said Bill Hornbuckle, MGM Resorts' CEO & President.
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