Wire NORTH AMERICA
Commercial Casino Sector hits $60bn Mark
Mississippi - Cherokee operates Gold Strike CNE Gaming Holdings, an indirect subsidiary of Cherokee Nation Businesses, officially assumed operations of Gold Strike Casino Resort after receiving approval from the Mississippi Gaming Commission.
“This is a historic day of growth for our hospitality portfolio as we enter the commercial gaming industry, and we welcome the wonderful team at Gold Strike to the family,” said Mark Fulton, president and chief operating officer of Cherokee Nation Entertainment. “For years, we’ve set the standard of excellence in gaming. We are excited to invest in this beautiful property and bring our three decades of industry experience to guests in the Mid-South market.”
CNE Gaming Holdings purchased the operating company from Mandalay Resort Group, a subsidiary of MGM Resorts International, for approximately $450m in cash. The Mississippi Gaming Commission issued its determination of suitability and approval of the acquisition in January.
Concurrent with the purchase, the operating entity entered into a long-term lease agreement with GSCR Propco, a subsidiary of VICI Properties, which owns the real property associated with Gold Strike Casino Resort. The resort is located on the Mississippi River, approximately 30 minutes from downtown Memphis. Operations continue as usual, and all 1,100 team members have been retained.
Michigan - New online gaming record set Michigan commercial and tribal operators reported combined total internet gaming gross receipts and internet sports betting gross receipts of $187.3m during January. Receipts fell 7.1 per cent compared with December results of $201.6m.
Internet gaming gross receipts for January were a record $153.7m. The previous internet gaming gross receipts monthly record of $152.8m was set in December 2022. Internet gaming gross receipts rose a fractional 0.6 per cent compared with December.
New Jersey - New initiative Attorney General Matthew J. Platkin and the New Jersey Division of Gaming Enforcement have announced a new Responsible Gaming Initiative to identify and help
problem gamblers utilising information already collected by online gaming operators.
As part of the Initiative, the DGE will work with online wagering companies to use technology to identify and work to address at-risk patrons. Operators will now be required to analyse electronically maintained player data to determine whether a patron is showing signs of problem gambling behaviour.
P18 WIRE / PULSE / INSIGHT / REPORTS
US commercial gaming revenue reached $60.4bn in 2022, surpassing the $53bn annual record set in 2021.
US commercial gaming revenue reached an annual record of $60.4bn in 2022, according to the American Gaming Association’s (AGA) Commercial Gaming Revenue Tracker. Tis marks the first $60bn year for the commercial gaming sector, passing the previous record of $53bn set in 2021.
Te year was punctuated by all-time high quarterly commercial gaming revenue of nearly $15.9bn in Q4 2022. Sports betting and iGaming both marked single quarter highs, while traditional gaming grew 1.7 per cent year-over- year.
“Our industry significantly outpaced expectations in 2022,” said AGA President and CEO Bill Miller. “Simply put, American adults are choosing casino gaming for entertainment in record numbers, benefitting communities, and taking market share from the predatory, illegal marketplace.”
Te industry continues to diversify offerings, with retail gaming accounting for 80.5 per cent
Massachusetts
Following positive fourth quarter results of of $855.1m, up 81 per cent year-over-year, DraftKings is predicting its first positive adjusted EBITDA year in 2024 on the back of new states coming on board, better structural hold rate and less customer reliance on promotions. Revenue and Adjusted EBITDA for the three months ended December 31 both outperformed the commentary previously provided by DraftKings in November.
Jason Robins, DraftKings’ CEO and Co-Founder, stated: “When we look at the long term, and we’ll provide more specific updates later this year, I do think there’s some upside if we can continue to find the efficiencies that we’ve been finding over the past 12 months. I am very pleased with how we concluded 2022, with continued top-line growth and strong focus on expense management.”
of total revenue and online gaming making up the remaining 19.5 per cent—marking a new high.
84 million American adults, or 34 per cent of the adult population, visited a casino in the past year—including new markets in Nebraska and Virginia. Table game revenue experienced a strong boost in demand, up 13.9 per cent year- over-year, while slot machines showed steady 5.1 per cent annual growth.
In 2022, the continued growth of the legal market drove new records for handle ($93.2bn) and sportsbook revenue ($7.5bn). Tis growth was fuelled in part by Kansas, which operationalised both retail and mobile sports wagering, and the launch of mobile sports betting in Louisiana, Maryland and New York.
Online casino revenue grew 35.2 per cent year- over-year to $5bn in the limited number of legal iGaming states. 2022 also saw the Las Vegas Strip and Atlantic City retain their top commercial market positions.
Illinois NOVOMATIC Americas relocates to Buffalo Grove
NOVOMATIC Americas has relocated its headquarters from Mount Prospect, Illinois, to new facilities, specifically designed and equipped to host the Group’s expanding innovation and distribution. Located in Buffalo Grove, NOVOMATIC Americas’ new headquarters site is equipped with large manufacturing spaces, a high-performance distribution infrastructure and great accessibility, providing Novomatic Americas employees with a world- class workplace that enhances innovation and collaboration.
“Tis is an exceptional opportunity for NOVOMATIC Americas,” explained Rick Meitzler, CEO, “offering a more spacious environment with new opportunities for working smarter. Te site features state of the art distribution facilities as well as a new experience for our employees, partners, and customers, where NOVOMATIC Americas will be able
to showcase its expertise and innovation. Te facility responds to a need for growth and increased production space. Most importantly, this relocation is in alignment with NOVOMATIC’s strategic plan for growth.”
NOVOMATIC Americas has obtained the site which comes fully equipped with a high-performance infrastructure. Te premises have all the potential to ensure the successful expansion of the NOVOMATIC Americas team, keeping in mind the highest level of customer service and support.
Te move of all administrative and development teams to Novomatic’s new home will be done gradually, over a transition period of the next three months starting in January 2023. Te building features 26’ ceilings, five truck docks, heavy power, lab/showroom/technician buildout, and is fully temperature controlled.
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