Canada
Detroit Casinos Report $90.8M in Revenue for January
Detroit’s three casinos, MGM Grand Detroit, MotorCity Casino, and Greektown Casino, have reported $90.84 million in monthly aggregate revenue in January, the first full month the venues were open since shuttering in November under state orders tied to the Covid-19 pandemic.
According to a report released by the Michigan Gaming Control Board, table games and slots collectively generated $86.78 million in revenue last month. Retail sports betting generated a total of $4.06 million in revenue. The report does not include revenue from online gaming and internet sports betting, which launched in Michigan in January. MGCB expects to release those figures next week.
Revenue from table games and slots fell 27.7% compared to the same month in 2020, but monthly revenue rose 293.5% compared to December when casinos were closed for almost the entire month. The Detroit casinos, which closed on November 18, were allowed to reopen from December 23 with a limit of 20 people per 1000 square feet.
For 2020 overall, total adjusted revenue from the Detroit casinos was down more than 57% from 2019, to about $620.4 million, according to MGCB. In 2019, revenues totaled nearly $1.5 billion.
Wagering taxes paid to the city were down nearly 60%, from more than $184 million in 2019 to just over $73.8 million in 2020.
In January, gaming revenue at MGM dropped 32% to $34 million, year-over-year. MotorCity’s revenue fell 20.7% to $33.2 million. Greektown’s revenue declined 30.4% to $19.6 million.
The three casinos paid $7 million in gaming taxes to the state last month, down from $9.7 million in January 2020. They submitted $10.3 million in wagering taxes and development agreement payments to the city.
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Canada
Rivalry to Report First Quarter 2024 Results on May 30
Rivalry Corp. (the “Company” or “Rivalry”) (TSXV: RVLY) (OTCQX: RVLCF) (FSE: 9VK), the leading sportsbook and iGaming operator for Gen Z, today announced details of its planned release of first quarter 2024 financial results.
The Company expects to file its Q1 2024 results the morning of Thursday, May 30, 2024 prior to the commencement of TSXV trading. Management plans to host an investor conference call that same day at 10:00 am EDT to discuss the results.
Conference Call Details |
|
Timing: | Thursday, May 30, 2024 at 10:00 am EDT |
Dial-in: | 1-800-717-1738 (toll free) or (+1) 289-514-5100 (local or international calls) |
Webcast: | A live webcast can be accessed from the Events section of the Company’s website at rivalrycorp.com |
A replay of the webcast will be archived on the Company’s website for one year. | |
Canada
Play’n GO announces partnership with Canadian operator Loto-Québec
Play’n GO, the world’s leading casino entertainment provider, has today announced a partnership with Canadian operator Loto-Québec, launching the Swedish gaming giant’s games into another Canadian province.
Already active in another Canadian province , this partnership sees Play’n GO’s content available in the province of Québec exclusively with Loto-Québec, a state-owned corporation, where online players now have access to titles such as Tome of Madness.
Magnus Olsson, Chief Commercial Officer, Play’n GO said: “At Play’n GO, we have always been clear in our vision to be active in every regulated market in the world, and this partnership with Loto-Québec is the next step on that journey.
“Our past success in Canada gives us confidence that players in Québec will enjoy the best Play’n GO content, and we look forward to many years of success with Loto-Québec in the province.”
Stéphane Martel, Head of Product and Innovation at Loto-Québec added: “As the sole iGaming operator in Québec, we pride ourselves on offering titles that truly add value to our platform, lotoquebec.com. We are happy to bring Play’n GO games to our players.”
Canada
Court Decision Upholds iGaming Ontario’s Model
iGaming Ontario has welcomed the decision of the Ontario Superior Court, which found that iGaming Ontario’s model is consistent with the Criminal Code and that iGaming Ontario is conducting and managing igaming in the province.
“We have always been confident in our model and are pleased that the court has ruled in our favour, and that Ontarians can continue to play with confidence in our regulated igaming market,” said Martha Otton, Executive Director of iGaming Ontario.
“Ontario’s model meets the requirements and contributes to the public good by protecting players, their data and their funds, while helping to fund priority public services in Ontario, and bringing well-paid, high-tech jobs and economic development to Ontario,” Otton added.
In dismissing the application brought forward by the Mohawk Council of Kahnawà:ke (MCK), the Superior Court found that iGaming Ontario is the “operating mind” behind Ontario’s competitive igaming market in accordance with the conduct and manage requirements of the Criminal Code.
iGaming Ontario will continue to conduct and manage igaming as it has since the launch of the regulated market on April 4, 2022.
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