Tags: Mobile Online Gambling 28th June 2019 | By contenteditor AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Address Greenwood Gaming & Entertainment’s Parx Casino has confirmed the official launch of its new online sportsbook in Pennsylvania, powered by technology partners GAN and Kambi.Parx Casino this week carried out a three-day soft launch period to test the new service. The test was completed, with the Pennsylvania Gaming Control Board (PGCB) subsequently approving the full launch. It becomes the second online sportsbook to go live, behind Rush Street’s PlaySugarHouse.com, also powered by Kambi’s technology.GAN provides Parx with its gaming platform, into which Kambi’s sportsbook solution has been integrated. The offering is to be expanded further with the addition of online casino, scheduled to launch from July 15. “By leveraging GAN’s proven Platform, Parx Casino has rapidly deployed internet sports betting, integrated with our XCLUB on-property rewards program, to become the second Internet sports betting operator to launch in Pennsylvania,” Greenwood Gaming & Entertainment chief operating officer John Dixon said.Dermot Smurfit, chief executive officer of GAN, added: “Following the launch in Pennsylvania earlier this week, GAN now offers clients a premium platform equipped with multiple options for integrated sports betting.”Read the full story on iGB North America.Image: VegasCasinoKid Casino & games Regions: US Pennsylvania Parx completes online sportsbook roll-out in PA Topics: Casino & games Sports betting Subscribe to the iGaming newsletter Greenwood Gaming & Entertainment’s Parx Casino has confirmed the official launch of its new online sportsbook in Pennsylvania, powered by technology partners GAN and Kambi.
Finance Topics: Finance Sports betting Subscribe to the iGaming newsletter Mississippi sports betting market recovers in June AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 19th July 2019 | By contenteditor Regions: US Mississippi Revenue from Mississippi’s regulated sports betting market increased by 35.4% month-on-month in June, despite the state seeing a 12.7% decline in amounts wagered. Revenue from Mississippi’s regulated sports betting market increased by 35.4% month-on-month in June, despite the state seeing a 12.7% decline in amounts wagered.Sports betting revenue amounted to $1.6m (£1.3m/€1.4m), compared to $1.2m in May, but the collective handle for the state’s central, coastal and northern regions slipped from $17.4m to $15.2m, according to figures from the Mississippi Gaming Commission.Coastal casinos were once again the main source of income, generating $709,901 from $9.0m in wagers – a win percentage for the casinos of 7.90%. Revenue was up month-on-month from $626,283 in May, but wagers were down from $11.0m.Baseball remained the most popular sport to bet on at coastal casinos – mainly due to North America’s Major League Baseball season currently being in full swing – with consumers spending $5.8m on betting. Basketball followed with $1.5m in total wagers for the month.Read the full story on iGB North America.Image: Ken Lund Email Address
The New Hampshire Executive Council has voted to approve the state lottery’s decision to award DraftKings an exclusive contract to operate sports betting in the Granite State. While legislation signed into law by Governor Chris Sununu in July allows for up to 10 retail sportsbook locations and five mobile offerings, it appears that DraftKings will serve as the state’s sole betting operator.Its proposal to operate exclusively, which will see it return 50% of betting revenue to the state, was ranked as the best financial package, with the fastest implementation timeline, paving the way for a launch in January.“We moved fast to get this done, and the deal is a win for New Hampshire,” Governor Sununu said. “We are partnering with a world-class company to provide a first-rate customer service experience. “With today’s vote, everyone will now be able to bet on Tom Brady and the New England Patriots in time for this year’s Super Bowl.” As part of its commitment to working closely with the New Hampshire Lottery, DraftKings will open an office in the state. “Today’s affirmative vote begins a partnership with DraftKings that will offer our players an exciting opportunity to participate in sports betting with a trusted partner,” New Hampshire Lottery executive director Charlie McIntyre said of the council approval. “The introduction of sports betting will broaden the appeal of the New Hampshire Lottery and engage new and existing customers, while generating millions of dollars in additional revenue to support education,” McIntyre continued. “We are working directly with DraftKings to implement a sports betting system that both engages players, while also ensuring all appropriate safeguards are in place. The New Hampshire Lottery and DraftKings expect to launch mobile sports betting this January.” Read the full story on iGB North America.Image: Hollis1138 Subscribe to the iGaming newsletter Legal & compliance Tags: Mobile Online Gambling OTB and Betting Shops Email Address 26th November 2019 | By contenteditor Topics: Legal & compliance Sports betting AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter NH approves exclusive sports betting contract for DraftKings Regions: US New Hampshire The New Hampshire Executive Council has voted to approve the state lottery’s decision to award DraftKings an exclusive contract to operate sports betting in the Granite State.
Online gambling operator Genesis Global is to launch its first sportsbook service in partnership with sports betting technology provider SBTech.Under the long-term arrangement, Malta-based Genesis, which operates a portfolio of online casino brands including Casino Cruise and Spinit, will utilise the SBtech platform to power a multi-jurisdiction sportsbook offering.The new sports brand will provide players with a comprehensive sports betting service, including live wagering options powered by official data from the likes of Sportradar and Betgenius.Other features will include fully native mobile apps, a secure payments hub and responsible gaming functionality such as self-exclusion APIs.“Since our inception in 2014, we’ve achieved considerable growth in Europe and we are keen to expand this even further, across multiple EU regulated markets,” Genesis chief executive Ariel Reem said.“Our aim has always been to create an extraordinary experience for both players and partners. That’s why we are delighted to be partnering with SBTech, whose capabilities and core values align clearly with ours.”SBTech’s chief development officer Andrew Cochrane added: “Through our powerful platform and innovative sportsbook, we will help propel Genesis Global’s presence in online sports betting and gaming, by capturing new market share in the sportsbook vertical, as well as boosting their casino revenues.” 29th January 2020 | By contenteditor AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Genesis Global to launch first sportsbook with SBTech Topics: Sports betting Tech & innovation Online gambling operator Genesis Global is to launch its first sportsbook service in partnership with sports betting technology provider SBTech. Email Address Subscribe to the iGaming newsletter Sports betting
AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter The Regional Council of Darmstadt, the Hessian body responsible for handling the federal sports betting licensing process, has revealed that 30 operators have now filed their applications.A spokesperson for the Council added that a further 20 had provided a serious expression of interest about joining the 30 in applying.This suggests a steady rise from January, when the Regional Council announced 11 applications, and a further seven expressions of interest.This in turn followed a warning, issued in December 2019, that unlicensed activity would not be tolerated, at a time when no companies had submitted applications or expressed interest in applying.It remains to be seen when the first licences will actually be issued, with the Council unable to provide any information on timescales.The Council was also unwilling to comment on German media reports that it was preparing to issue its first blocking orders against operators that continued to offer their products to citizens without signalling their intention to apply for a licence.Frankfurter Allgemeine Zeitung claimed that it would target up to ten companies in the crackdown on illegal gambling since the third amended State Treaty on Gambling came into force from 1 January.This legislation is only in place until 30 June, 2021 after which it is to expire and be replaced with a more comprehensive overhaul, the Glücksspielneuregulierungstaatsvertrag (GlüNeuRStV).The GlüNeuRStV, which is currently being discussed by German lawmakers with a view to finalising the regulations at a meeting of the state Minister-Presidents on 5 March, aims to regulate online slots, table games and poker alongside sports betting.However, the draft treaty has already come in for criticism, as a result of controls that many stakeholders view as unworkable. It aims to offer separate licences for online slots and table games, with slot stakes capped at €1 per spin.States will have an opt-out for table games regulation, and could even simply hand their lotteries a monopoly in the vertical. This comes in addition to the third State Treaty’s strict controls on live dealer bets – something that many have suggested could push players to unlicensed sites – and a €1,000 cross-operator spending cap for players.Bodies such as the Deutscher Sportwettenverband, European Gaming and Betting Association and media trade body Vaunet have each called for significant changes. 25th February 2020 | By contenteditor Email Address Topics: Legal & compliance Sports betting Hesse receives 30 sportsbook licence applications Subscribe to the iGaming newsletter Tags: Mobile Online Gambling OTB and Betting Shops The Regional Council of Darmstadt, the Hessian body responsible for handling the federal sports betting licensing process, has revealed that 30 operators have now filed their applications. Legal & compliance
Enlabs is on the hunt for a new chief financial officer after announcing the departure of Adam Jonsson.Having joined the group in 2018, Jonsson has held a series of posts including business controller, head of investor relations and head of finance before being named CFO in December 2019.Jonsson will remain at Enlabs until October, with the group adding that the process of appointing a replacement has already begun.“Adam has played an important role within Enlabs and has contributed a lot to our development. I will miss our close cooperation and wish Adam all the best in his further career,” said Enlabs chief executive George Ustinov.Enlabs – formerly Nordic Leisure – has experienced a busy few months on the financial front having invested in Scout Gaming Group and become the biggest shareholder in Global Gaming, which owns Ninja Casino.It has also launched a new brand in Latvia, Laimz, to compliment existing sites such as the Baltic- and Nordic-facing Optibet.Ustinov, previously chief operating officer, was named CEO in March 2020.In May, Enlabs reported a year-on-year increase in revenue for the first quarter of 2020, with growth across all major gaming segments. Revenue in the three months to 31 March amounted to €10.5m, up 16.7% from €9.0m in the same period last year.Enlabs said it drew 94.0% of revenue from operations in Baltic markets, namely Estonia, Latvia and Lithuania, while 6% of revenue came from its rest of world segment, through its licences in Belarus, Malta and Sweden.Last month, Enlabs announced it would scrap financial targets for 2020 and instead focus on operational and technical improvements. For 2021 it has targeted EBITDA of €20m, earnings per share growth of 40% and organic growth of 25%, while its net debt to earnings before interest, tax, depreciation and amortisation ratio must not exceed 1.5x.The group has offices in Estonia, Latvia and Lithuania, as well as Malta, Spain, Belarus and Sweden. Strategy Topics: Strategy Regions: Europe Baltics Latvia Subscribe to the iGaming newsletter Tags: Online Gambling AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Enlabs is on the hunt for a new chief financial officer after announcing the departure of Adam Jonsson. Enlabs CFO to depart 13th July 2020 | By contenteditor Email Address
Topics: Finance Gambling.com Group profit soars in first half Finance Tags: Online Gambling Affiliate giant Gambling.com Group has reported a 249.1% year-on-year increase in comprehensive profit for the first half of 2020, despite revenue growth having slowed due to the novel coronavirus (Covid-19) pandemic. Email Address Affiliate giant Gambling.com Group has reported a 249.1% year-on-year increase in comprehensive profit for the first half of 2020, despite revenue growth having slowed due to the novel coronavirus (Covid-19) pandemic.Total revenue for the six months to 30 June came in at €9.5m (£8.5m/$11.3m), down 2.2% from €9.7m in the corresponding period last year.Earned revenues – comprising search engine optimisation and direct navigation – amounted to €9.3m in H1, up 6.0% on the previous year and accounting for most of Gambling.com Group’s revenue in the first half.However, paid revenue, which covers bought traffic, dropped by 78.0% year-on-year to €210,000, with the business putting a halt to these operations during the first quarter, which then remained paused in the second quarter.Revenue generated from locally regulated markets accounted for 69.0% of the fist half total.Looking at costs for H1, Gambling.com Group’s operating expenses totalled €6.0m, a reduction of 18.2% from €7.3m in the same period in 2019.Direct costs related to paid revenue fell 69.3% to €270,000 in the first half due to the fact this area of the business remained paused for a large portion of the period.Elsewhere, personnel expenses increased 11.7% to €3.8m, but other operating costs were almost halved from €2.6m to €1.4m as a result of temporary reductions in spending on sports content and travelling due to the Covid-19 crisis.Other spend included €224,000 in non-recurring costs related to restructuring, as well as €65,000 in on-recurring costs related to financing and investing, and €218,000 for depreciation and amortisation.Despite the slight decline in revenue, the overall drop in operational costs meant that Gambling.com Group was able to post an operating profit of €3.5m for the half, up 47.4% from €3.5m last year.In terms of other spending, the group recorded €359,000 in finance costs as well as €727,000 in interest on borrowings, but this was more than offset by additional income.This included €1.8m worth of gains on financial liability at fair value through profit and loss – which last year stood at a loss of €50,000 – as well as €298,000 in finance income, up from €47,000 in 2019.As a result, Gambling.com Group posted €4.5m in profit before tax, some 258.8% more than last year. After paying €439,000 in tax during the period, this left the group with €4.1m in comprehensive profit, up 249.1% on last year. Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) also climbed 4.9% to €4.0m.Chief executive Charles Gillespie (pictured) said the growth in the first half was helped by a record performance in the second quarter, during which it posted all-time highs for revenue, EBITDA, casino new depositing customers (NDCs) and earned NDCs, despite pausing media buying and virtually no sporting events due to Covid-18.Revenue in Q2 – the three months to 30 June – amounted to €4.4m, up 28.8% on a year-on-year basis. Earned revenue jumped 37.0%, but paid revenue was down 85% and only comprised of legacy payments due to the lack of activity here.Operating costs were reduced by 25.8% to €2.6m, which meant the business recorded €3.1m in operating profit for the quarter, up 256.9% year-on-year. After accounting for other costs and income, pre-tax profit totalled €2.8m, up 921.0% from €272,00 last year.Gambling.com Group paid €359,000 in tax in Q2, which left it with a comprehensive profit of €2.4m, up 891% from €244,000 in Q2 of 2019.“As expected, we saw a decline in sports revenue in the quarter as a result of Covid-19 postponements and cancellations of most sports events,” Gillespie said. “However, the decline in sports revenue was offset by increased demand for other online gambling products like casino and poker.“We attribute this increased consumer demand to a variety of factors including the closure of land-based gaming facilities, restriction on movement and substitution demand from sports bettors unable to wager normally. We expect to see increased adoption of online gambling products persist post-pandemic.”In terms of what the rest of the year holds for the business, Gillespie said that there is reason to be confident, given the group’s performance in the first half, especially in Q2 when the pandemic was at its peak in many countries.“Although we remain cautious about the general economic implications of the Covid-19 pandemic, online-based business models such as ours have benefited from an accelerated structural shift from offline to online,” he said.“The group itself continues to benefit from improved operational efficiencies from our new technology platforms. We are now in a position to accelerate product development and optimisation. We look to the future with confidence.”Image: Gambling.com 19th August 2020 | By contenteditor Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter
New Jersey became the first US state to generate more than $900m in sports betting handle in a calendar month during November. Topics: Casino & games Finance Sports betting Online casino Online sports betting Retail sports betting Subscribe to the iGaming newsletter 15th December 2020 | By Richard Mulligan Read the full story on iGB North America. For the year to date, betting revenue stands at $332.1m, up 23.0% on the year-to-date figure for October 2019. New Jersey sports betting handle passes $900m in November That figure was up 16.0% compared to October 2020 and 65.7% higher than November 2019. The New Jersey figure dwarfs Nevada’s $659.9m record handle generated in October 2020. $872.1m of November’s handle came from online, with $60.0m from retail. Total sports wagering handle hit $931.6m during the period according to figures published by the New Jersey Division of Gaming Enforcement (NJDGE). November’s takings mean that New Jersey also became the first state to see more than $5bn wagered during a calendar year. That figure is $1bn higher than the handle generated by November 2019. Regions: US New Jersey Email Address AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Finance Sports wagering gross revenue was $50.6m for the month, down slightly on October but well up on the $32.9m reported for November 2019. Football attracted a record $433.3m in bets, which was up from $278.9m in October. Despite the record handle, it was a quieter November sports schedule than usual with the National Hockey League (NHL) and National Basketball Association (NBA) dormant and fewer college basketball games than usual.
7th May 2021 | By Conor Mulheir KRAIL subsequently granted its first sports betting licence to Parimatch, which was founded in the country but was previously unable to operate there, in March 2021. In Ukraine, SuperLenny said the site’s offering will focus on providing fair and balanced online casino reviews, in addition to sports betting content aimed specifically at the local market. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter SuperLenny to launch affiliate site in Ukraine It said it intends to “get a foot in the door” of the Ukrainian market sooner rather than later, while the jurisdiction’s online gaming sector is still in its early stages. By doing so, the business said it wants to establish itself as a serious contender in the nation’s online gambling market. Topics: Casino & games Legal & compliance Marketing & affiliates Sports betting Online casino Regulation Affiliates Online sports betting Ukraine’s Gambling Commission (KRAIL) offered its first online casino licence to Spaceiks in February 2021. Spaceiks is operator of the Cosmolot brand, which was previously owned by the country’s National Lottery but was discontinued in 2019. Subscribe to the iGaming newsletter Email Address Regions: Ukraine Gambling was legalised in the jurisdiction in August 2020, when its president, Volodymyr Zelensky, signed the country’s Gambling Act into law. Under the bill, online gambling, bookmaking, slot halls and land-based casinos were all made legal, but casinos could only be located in hotels. Gaming Innovation Group (GiG)-owned online casino and sports betting affiliate, SuperLenny.com, has announced it will soon be launching into the Ukraine market. Tags: Gaming Innovation Group SuperLenny.com The affiliate said it is excited to start servicing the Russian-speaking population of Ukraine with high quality guides and articles, alongside in-depth reviews of online casinos and betting sites. Affiliates SuperLenny’s launch into Ukraine will mark its ninth market entry, in addition to several European jurisdictions, Canada, India and Taiwan. The company said it has a strong and trusted brand name in its core markets due to originally operating its own casino before converting into a player advice portal.
The family have led bet365 since launching the business in 2000 and were this year also named as the UK’s biggest taxpayers, having paid £573.0m during the most recent full financial year. Mark Scheinberg, the son of PokerStars Isai Scheinberg, ranked 49th, down from 44th in 2020 after his wealth declined £36.0m to £3.52bn. Gambling entrepreneurs feature in 2021 Sunday Times Rich List Subscribe to the iGaming newsletter A number of other industry founders saw their place in the rankings fall, including Playtech founder Teddy Sagi, who fell six places to 44th, though his fortune increased by £166m to £3.84bn. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Meanwhile, Ian and Richard Livingstone, major shareholders in Evolution, were the next highest-ranked names from the gambling sector on the Sunday Times Rich List, placing 27th overall with £6.10bn in wealth, an increase of £2.20bn on last year. Email Address 21st May 2021 | By Robert Fletcher Tags: Bet365 Denise Coates Rich List Sunday Times Rich List The Coates family, comprising Bet365 co-chief executives Denise and John, and their father and company chair Peter, ranked the highest of gambling businesspeople, placing 17th on the overall list and top among figures in the gambling industry. The Coates family’s wealth was estimated at £8.45bn (€9.83bn/$12.00bn), an increase of £1.28bn from the 2020 edition. Topics: Finance Peter and Fred Done, who run the Betfred bookmaker brand, fell from 123rd to 137th despite their wealth climbing £35.0m to £1.24bn. A number of gambling entrepreneurs have been ranked among the wealthiest business owners in the world after being included in the 2021 edition of the Sunday Times Rich List. Ruth Parasol, the founder of the PartyGaming brand that merged with Bwin Interactive in 2010, was the only other UK-based gambling businessperson to feature in the top 250 by placing 208th, down from 181st in 2020 despite her wealth remaining at £780.0m. Finance