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Q1 2024 Commercial Gaming Revenue Sets New Quarterly High, Marks 13th Straight Month of Industry Growth

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AGA State of the States Report Shows Record $14.67 Billion in 2023 Commercial Industry Tax Contributions.

U.S. commercial gaming revenue reached a quarterly record of $17.67 billion in Q1 2024, the industry’s 13th consecutive quarter of growth, according to the American Gaming Association’s (AGA) Commercial Gaming Revenue Tracker. The quarter was punctuated by March revenue of $6.09 billion, the industry’s second-highest grossing month ever.

 

 

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“While gaming’s momentum remains strong, 2024 will be the new baseline for future growth after several years of sports betting legalization and post-pandemic consumer shifts,” said AGA President and CEO Bill Miller. “Gaming’s continued growth relies on maintaining our commitment to innovation and responsibility.”

Commercial Gaming Revenue Tracker Highlights

Across the country, 11 state gaming markets set new quarterly revenue records, including Pennsylvania and New York, two of the nation’s largest commercial gaming markets.

Both retail and online gaming saw annual growth in Q1 2024, though at slower rates than in previous quarters. Retail gaming accounted for 70.7 percent of total revenue while online gaming represented its largest share ever, 29.3 percent. Looking closer at each sector:

  • Traditional Gaming: Traditional brick-and-mortar casino gaming generated quarterly revenue of $12.34 billion, a modest increase of 0.3 percent year-over-year that was hampered by severe January weather in regional gaming markets nationwide.
  • Legal Sports Betting: Americans wagered a first-quarter record $36.86 billion on sports in Q1, generating $3.33 billion in quarterly revenue (+22.0% year-over-year). The growth compared to Q1 2023 was in part driven by new market launches in Kentucky, Maine, North Carolina and Vermont.
  • iGaming: iGaming grossed an all-time high of $1.98 billion in Q1, a 26.1 percent year-over-year increase bolstered by Rhode Island’s iGaming market launch in March.

State of the States 2024

The AGA also released its annual State of the States report today, which provides the definitive state-by-state economic and regulatory analysis of U.S. commercial gaming in 2023 for policymakers, gaming stakeholders and industry observers.

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State of the States 2024 details the record $14.67 billion in direct gaming tax revenue paid to state and local governments by commercial gaming operators in 2023—up 9.7 percent from 2022. This does not include the billions more paid in income, sales or other taxes.

“As gaming expands, more communities than ever are benefiting,” continued Miller. “We are proud to create jobs across the country, provide world-class entertainment experiences that offer safe alternatives to the pervasive illegal gambling market, and generate tax revenue to support critical public projects.”

 

Background

  • AGA’s Commercial Gaming Revenue Tracker provides state-by-state and cumulative insight into the U.S. commercial gaming industry’s financial performance based on state revenue reports. This issue highlights Q1 2024 results.
  • 37 states and the District of Columbia featured operational commercial gaming markets in Q1 2024, including casino gaming, sports betting and iGaming.
  • AGA’s State of Play Map charts gaming’s economic impact, industry regulations and casino locations on a state-by-state basis for both the commercial and tribal gaming sectors.

 

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PA Betting Services announces the rebrand to Podium

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We’re excited to announce that PA Betting Services has rebranded to Podium. Whilst our look and feel may be different, our commitment to our customers remains the same.

For over 40 years, we are a trusted partner in the racing and betting world, providing real-time data, content, and technology solutions that our customers rely on. Our customers include Flutter, Entain, Evoke, Bet365 RMG, ARC, PMU, many other global rightsholders and sportsbooks.

The rebrand marks a significant milestone following our acquisition of iRace Media (Singapore), the launch of our AdVantage Platform and represents our ambition to expand our global presence, united as one company with a shared vision.

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Our goal has always been to bring together our diverse services under a single, unified brand. By doing so, we’re offering customers access to a comprehensive global database across Sport and Racing, addressing many of our customers’ challenges.

Eugene Delaney, Podium, commented: “This rebrand is a key step in our journey. We’re embracing change while staying true to our core values—speed, accuracy, and unparalleled coverage. As we continue expanding into new markets and creating cutting-edge products, this rebrand reflects our forward-thinking approach to meeting the evolving needs of our global customers and partners.”

The betting industry is changing, and so are we. Our new brand reflects our ongoing dedication to innovation, precision, and our mission to help our partners connect with audiences worldwide in even more meaningful ways.

The post PA Betting Services announces the rebrand to Podium appeared first on European Gaming Industry News.

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SYNOT Games Boosts Global Content with ProgressPlay

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SYNOT Games is proud to announce an exciting new content partnership with ProgressPlay, a leading provider of white-label gaming and sports-betting solutions. This collaboration will bring SYNOT Games‘ top-quality game portfolio to a broader audience, further enhancing player engagement and diversifying game offerings.

Through this partnership, ProgressPlay operators can now seamlessly integrate SYNOT’s extensive range of games, from immersive video slots to innovative table games, offering players an enriched gaming experience across all devices. As ProgressPlay continues to expand its reach, collaborations with leading game developers like SYNOT Games ensure that the platform remains at the forefront of the gaming industry, providing unparalleled entertainment for players and robust solutions for operators.

This new collaboration enables SYNOT Games to extend its high-quality, certified titles to operators through ProgressPlay’s platform. Known for their innovative gameplay and immersive designs, SYNOT’s games will further enhance player engagement on ProgressPlay’s platform, complementing its already dynamic portfolio of casino and sports-betting content.

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Martina Krajčí, CCO at SYNOT Games, said:  „We are thrilled to partner with ProgressPlay, a provider known for its dedication to delivering excellence in the online gaming space. This collaboration allows us to expand our footprint and bring our thrilling games to an even broader audience. We believe our portfolio will be a great addition to ProgressPlay’s robust gaming offering, driving mutual success in key markets.“

Itai Loewenstein, CEO of ProgressPlay, expressed his enthusiasm:  „Partnering with SYNOT Games aligns perfectly with our commitment to continuously deliver premium, diverse content to our operator partners. With SYNOT’s expansive portfolio, our operators will gain access to exciting and trusted titles that resonate with players across multiple jurisdictions. We look forward to offering these new games to our operators and enhancing the player experience.“

The post SYNOT Games Boosts Global Content with ProgressPlay appeared first on European Gaming Industry News.

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Aposta Ganha

Aposta Ganha secures Brazilian sports betting and online games license

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Aposta Ganha, the fastest-growing Brazilian sports betting and online gaming site, has officially been awarded its sports betting and online games license through the Betting Management System (Sigap) to operate within Brazil’s regulated market.

Aposta Ganha is one of the first betting platforms to be regulated, with registration number 0022 in the Betting Management System. Having operated in Brazil over the past six years, it is perfectly positioned to thrive in Brazil’s new regulated environment, adhering to the rules of the Secretariat of Prizes and Betting (SPA) under the Ministry of Finance

Responsible Gaming continues to be at the heart of Aposta Ganha’s operations, even before the implementation of the stringent measures outlined in the SPA ordinances.

Aposta Ganha will commence its regulated operations from January 1, 2025, depending only on the SPA analysis to obtain the official license from the Brazilian government.

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Hugo Baungartner, Grupo Aposta Ganha CCO, said:  “We’re incredibly proud to announce our successful completion of our federal operating license application laid out by the Ministry of Finance. The strict security criteria ensure greater consumer protection and market integrity. Our hard work has seen us join an exclusive tier of companies authorized to deliver an entertaining and 100% secure gaming experience across the nation.”

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