Canada

Pennsylvania Sportsbooks Up, But Still Lost Out $275 Million, While Online Casinos Surge, According to PlayPennsylvania

Published

5 years ago

June 18, 2020

According to an estimate by PlayPennsylvania, the revenue from retail and online sportsbooks in Pennsylvania has risen in May, but lost out on about $275 million in potential bets. Also, the gamblers turned to online casinos and poker rooms in record numbers.

“May was another challenging month for Pennsylvania’s gaming industry, but it appears that it will be the last month of online casinos and poker rooms being the only bearer of good news. The casinos that have recently reopened appear to be experiencing relatively strong traffic, and sports bettors are finding increasingly more to bet on. Recovery for the entire industry will be a long road, but there are reasons for optimism,” Dustin Gouker, lead analyst for PlayPennsylvania.com, said.

Online sportsbooks generated $77.5 million in wagers in May, up 68.4% from April’s $46 million handle. But Pennsylvania sportsbooks would have accepted more than $350 million in a more typical May, according to PlayNJ.

May’s handle yielded $4.8 million in gross revenue, up from $3.2 million in April, and $1.6 million in state taxes.

European Gaming Congress 2024 (Warsaw, Poland)

“A normal menu of sports would likely mean an almost instant recovery for online sportsbooks, though we may still be a few months from that happening. Pennsylvania’s online sportsbooks have been savvy in keeping their customers engaged with sports well outside the mainstream. That will only help when things begin to return to normal,” Valerie Cross, analyst for PlayPennsylvania.com, said.

FanDuel Sportsbook at Valley Forge Casino topped the market with $29.6 million, up from $19 million in April. Those bets fueled $2.5 million in taxable revenue, up from $1.3 million. DraftKings at The Meadows generated a $21.8 million handle, up from $12.6 million.

Online casinos and poker rooms set a fresh record with $55.9 million in gross revenue, up 29.7% from $43.1 million in April.

A remarkable $1.8 billion was bet on online table games and slots in May, up from $1.4 billion in April. Operators, though, were still out of the $286.1 million land-based casinos generated in May 2019.

“As welcome as the online revenue has been, it can’t come close to replacing what was lost with the shutdown of land-based casinos. So far early signs are good for Pennsylvania’s land-based casinos, but they are still navigating diminished capacity and uncertain demand as they reopen. For that reason, online casino games and poker will remain critical in bridging revenue gaps as Pennsylvania casinos recover,” Cross said.

Rivers-Philadelphia led the online casino market with $17.6 million in revenue on $641.3 million in wagers, up from $13.7 million in revenue on $477 million in wagers in April. DraftKings enjoyed a strong debut of its online casino under the Penn National license. After launching on May 1, DraftKings helped boost Penn National to $9 million in revenue on $313.4 million in wagers from $4.6 million in revenue and $122.2 million in wagers in April.

“DraftKings’ online casino is a well-designed product, and bettors obviously reacted positively. FanDuel and DraftKings are the dominant players in the state, and their dominance will only grow as their online casinos grow and sports betting returns,” Gouker said.

AGCO

Jackpot Digital Receives Approval from AGCO as a Registered Gaming Supplier

Published

3 days ago

December 16, 2024

GamingAmericas.com

jackpot-digital-receives-approval-from-agco-as-a-registered-gaming-supplier

Jackpot Digital Inc., a leading provider of innovative dealerless electronic poker gaming solutions, has announced that the Alcohol and Gaming Commission of Ontario (AGCO) has approved the Company to be licensed as a registered Gaming Related-Supplier (the “Supplier License”) under the Gaming Control Act in the Province of Ontario.

This significant achievement allows Jackpot Digital to enter one of the most dynamic and rapidly growing regulated gaming markets in North America. The Supplier License authorizes Jackpot Digital to supply its electronic table games to Ontario’s gaming venues, including casinos and other regulated gaming facilities.

Jackpot Digital’s flagship product, the Jackpot Blitz electronic table game system, offers a modern, dealerless, player-friendly solution that integrates traditional multiplayer poker games with cutting-edge digital technology. The Supplier License will enable the Company to offer its innovative gaming solutions to operators throughout Ontario, driving new revenue opportunities and enhancing player experiences.

“Receiving AGCO’s approval is a major milestone. This approval provides us with the opportunity to offer our top-tier electronic gaming systems to operators throughout all of Ontario, positioning us for further growth in one of the world’s most robust gaming markets. We are excited to bring our innovative products to Ontario’s gaming community and continue our commitment to providing exciting, technology-driven entertainment experiences,” said Jake Kalpakian, CEO of Jackpot Digital.

Canada

Play’n GO announces partnership with Canadian operator PointsBet

Published

6 days ago

December 13, 2024

GamingAmericas.com

play’n-go-announces-partnership-with-canadian-operator-pointsbet

Play’n GO, the world’s leading casino entertainment provider, has announced further expansion of its Canadian operations via a partnership with leading operator PointsBet in the province of Ontario.

The Swedish-founded gaming giant’s games will now be available to PointsBet players in the Canadian province, meaning classic titles such as Book of Dead, Rich Wilde and the Tome of Madness, and Reactoonz will now be available on the PointsBet platform.

The province of Ontario regulated online casino gaming in 2022, which saw Play’n GO enter the Canadian market for the first time. The company expanded into the province of Quebec earlier this year, and, as of June 2024, is also a proud member of the Canadian Gaming Association.

Magnus Olsson, Chief Commercial Officer at Play’n GO, commented, “Back in 2022, I said that “North America is right at the top of Play’n GO’s priority list, and Ontario is just the first step we plan to take”. This partnership with PointsBet shows we have yet to take our foot off the gas. We’ve proudly watched our games become instant hits in our two and a half years in the Ontarian region, and we have no plans to slow down any time soon.

“It’s exciting to team up with a fellow Canadian Gaming Association member in PointsBet, and we can confidently say that we are working towards the same goal of a safe, regulated industry that is focused on player entertainment. We’re looking forward to working closely together following this milestone announcement.”

Scott Vanderwel, Chief Executive Officer at PointsBet, shared “Play’n GO has built a strong reputation for delivering high-quality game content, and we’re thrilled to bring their titles to our platform. At PointsBet, our focus is on providing a safe and engaging entertainment experience for our players, and it’s clear that Play’n GO aligns with those values. Canadian casino enthusiasts recognize PointsBet as a trusted leader in iGaming, and this collaboration further enhances the exceptional experience we offer.”

Anthony Novac

VICI Properties Inc. Enters into Agreement with Indigenous Gaming Partners Related to PURE Canadian Gaming

Published

7 days ago

December 12, 2024

GamingAmericas.com

vici-properties-inc.-enters-into-agreement-with-indigenous-gaming-partners-related-to-pure-canadian-gaming

VICI Properties Inc. announced that it has entered into an amendment and consented to the assignment of the master lease agreement with PURE Canadian Gaming Corp. (PURE) to an affiliate of Indigenous Gaming Partners Inc. (IGP), in connection with the acquisition of the operating assets of PURE by an affiliate of IGP.

IGP is a partnership of five institutional First Nations established to acquire gaming assets in North America. IGP has partnered with Sonco Gaming, one of Canada’s most experienced casino developers and managers, who will assist in the sourcing and execution of casino gaming investments, as well as management oversight of IGP’s portfolio.

Danny Valoy, Vice President of Business Development and Acquisitions, said: “This transaction demonstrates VICI’s ability to collaboratively work with existing partners while building new relationships with highly experienced operators and First Nations in international jurisdictions. We are pleased to welcome IGP as a new partner, and we look forward to expanding our relationship with IGP and Sonco as they pursue additional growth opportunities in the future.”

Anthony Novac, CEO of Sonco, said: “We are excited to work with VICI, an established partner in providing financial solutions to the gaming industry. We believe having a partner like VICI will give us a competitive advantage as we seek growth opportunities in the Canadian market.”

In connection with entering into the amendment to the PURE Canadian master lease, VICI received a 5-year right of first offer (ROFO) on future sale-leaseback transactions. Any additional properties acquired pursuant to the ROFO will be added to the master lease.

The annual base rent of C$22.0 million (US$15.5 million based on the CAD:USD exchange rate as of December 9, 2024) and other economic terms of the PURE Canadian master lease will remain unchanged, including a base term of 25-years with four 5-year tenant renewal options, escalation of 1.25% per annum in lease year 3, with escalation equal to the greater of 1.5% and Canadian CPI (capped at 2.5%) starting in lease year 4, and a minimum capital expenditure requirement equal to 1.0% of annual net revenue. The lease, currently in lease year 2 and escalating on February 1 of each year, encompasses the following assets in Alberta, Canada: PURE Casino Edmonton, PURE Casino Yellowhead, PURE Casino Calgary and PURE Casino Lethbridge.