Canada

BETTING AT PENNSYLVANIA SPORTSBOOKS DIPS AGAIN IN JUNE, BUT REVENUE JUMPS State closes eventful fiscal year with more than $5.6 billion in sports wagering, $1.1 billion in online casino revenue, according to PlayPennsylvania

Published

3 years ago

July 20, 2021

Wagering at Pennsylvania’s online and retail sportsbooks dropped for a third consecutive month, but that didn’t stop sportsbooks from making significant revenue gains as the summer offseason trudged on. The down month closed a dramatic fiscal year that saw more than $5.5 billion in sports wagers and an online casino gaming market that continues to compete with New Jersey as the nation’s largest, according to PlayPennsylvania, which tracks regulated online gaming and sports betting in the state.

“Betting volume typically falls over the summer, but sportsbooks tend to win more per bet on sports like golf and tennis,” said Dustin Gouker, lead analyst for the PlayUSA.com network, which includes PlayPennsylania.com. “That really helped sportsbooks in June and will help them to continue to weather the offseason even as bettors engage less.”

Online and retail sportsbooks in Pennsylvania combined to take in $420.2 million in wagers in June, down 6.1% from $447.5 million in May, according to official data released Monday. Sportsbooks’ gross gaming revenue jumped to $42.5 million, though, which was up 13.6% from $37.4 million in May. The month’s gross receipts produced $34.2 million in taxable revenue, which yielded $11.6 million in state taxes and $684,510 in local share assessments.

Still hampered by pandemic-related shutdowns, sportsbooks generated just $89.0 million wagers and $8.0 million in gross gaming revenue in June 2020. But those results would hardly be a harbinger of the fiscal year ahead, which brought:

$5.6 billion in sports wagering, up 121.0% from $2.5 billion in FY 2019-20.
$440.7 million in gross gaming revenue, up 169.9% from $163.3 million in FY 2019-20.
$308.8 million in taxable revenue, up 128.0% from $135.5 million in FY 2019-20.
$111.2 million in state and local taxes, up 128.0% from $48.8 million in FY 2019-20.

Pennsylvania, which celebrated two years of online sports betting in June, has now taken in $8.1 billion in online and retail wagering since launch. Only New Jersey and Nevada have taken in more over that time.

“By any measure, Pennsylvania’s entry into sports betting has been an unqualified success, and the market has yet to fully mature,” said Valerie Cross, analyst for PlayPennsylvania.com. “Importantly, with more than $111 million in state and local taxes over the fiscal year no state takes in more in tax revenue from sports betting than Pennsylvania. That is where the state truly stands out.”

In June, 90.3%, or $379.3 million, of all sports bets were made online, a fitting end to a fiscal year that saw an increasing number of bets made online. FanDuel only increased its dominance of the online market, producing $162.5 million in online wagering, up from $160.9 million in May. By taking in 42.9% of all online wagers in June, FanDuel posted its largest share of the market since August. Gross gaming revenue in June jumped to $19.7 million from $17.6 million in May, generating $16.4 million in taxable revenue.

DraftKings was second in the state with $86.0 million in bets, down from $100.0 million in May. That resulted in $6.4 million in gross revenue, up from $5.2 million in May, and $5.7 million in taxable revenue. Penn National’s Barstool-branded app was fourth with $31.9 million in June wagering, down from $43.6 million in May. Those bets yielded $3.2 million in gross revenue, up from $2.8 million in May, and $2.2 million in taxable revenue.

The online leaders were followed by:

BetMGM ($37.4 million handle, up from $32.4 million; $3.2 million in gross gaming revenue, up from $2.2 million)
BetRivers ($18.5 million handle, up/down from $19.1 million; $1.4 million GGR, up from $1.2 million)
Fox Bet ($12.6 million handle, down from $14.2 million; $934,728 GGR, down from $964,405)
PlaySugarHouse ($11.3 million handle, down from $12.2 million; $918,873 in GGR, up from $832,368)
Parx Casino ($9.8 million handle, down from $11.1 million; $1.1 million GGR, even with May)
Unibet ($4.7 million handle, down from $5.5 million; $376,848 GGR, down from $390,170)
TwinSpires ($2.2 million handle, down from $3.2 million; $194,104 GGR, up from $120,582)
Caesars ($1.5 million handle, down from $2.7 million; $56,986 GGR, up from -$65,823)
Betfred ($771,648 handle, down from $2.5 million; $33,801 GGR, down from $101,781)
Betway ($14,883 handle, $3,655 in GGR)

Meanwhile, retail sportsbooks continued on their road to health with $40.9 million in wagers in June, up from $40.1 million in May. Those bets yielded $4.9 million in taxable revenue, up from $5.2 million in May. Rivers-Philadelphia led the retail market with $8.0 million in bets, topping Parx Casino’s $6.4 million handle.

“With no Sixers to bet on and with the Phillies and Pirates sagging in the standings, sportsbooks will have to get creative in driving action in July and August,” Gouker said. “The Olympics later this month should help fill the gap, but it won’t be until football season that we see significant growth return to either retail or online sportsbooks.”

Online casinos and poker

Gross gaming revenue at online casinos and poker rooms topped $100 million for the fourth consecutive month, even as it fell to $100.8 million in June, down from $110.8 million in May. June’s Gross revenue produced $88.9 million in taxable revenue, down from $101.3 million in May, and $37.2 million in state and local taxes.

Pennsylvania’s online gambling market has boomed since the beginning of the pandemic, taking in more than $1 billion in gross revenue over the fiscal year. New Jersey’s $107.1 million in gross gaming revenue topped Pennsylvania in June, making the Garden State No. 1 among U.S. markets in June. But near the two-year anniversary of the launch of online casinos in Pennsylvania, which debuted on May 31, 2019, online gambling has generated more in monthly gross gaming revenue than New Jersey for two of the last seven months, including in May.

For fiscal year 2020-21, Pennsylvania’s online casinos and poker rooms generated:

$1.1 billion in gross gaming revenue, up 259.8% from $297.3 million in FY 2019-20.
$897.2 million in taxable revenue, up 272.5% from $240.9 million in FY 2019-20.
$372.7 million in state and local taxes, up 283.4% from $97.2 million in FY 2019-20.
$31.9 billion in online casino wagering, up 291.4% from $8.1 billion in FY 2019-20.

“The growth of online casinos over the past 15 months has forever altered the landscape of Pennsylvania’s gaming industry,” Cross said. “The potential of Pennsylvania was obvious from the start. But the expansion over the last year to the cusp of becoming the largest online gambling market in the country, capable of generating more than $1 billion in revenue in a single year, has been remarkable.”

Other highlights from May:

Wagering on online casino games reached $3.1 billion in June, up from $1.7 billion in June 2020 but down from $3.3 billion in May.
Online casino and poker rooms generated $3.4 million per day in gross gaming revenue over the 30 days in June, down from $3.6 million per day in May.
Penn National, which includes the DraftKings, BetMGM, Barstool, and Hollywood casinos, topped the market with $37.2 million in revenue. Rivers-Philadelphia, which includes PlaySugarHouse, Borgata, and BetRivers casinos, was second with $27.3 million in revenue.
Betway PA soft-launched its online casino and sportsbook in late June through its partnership with Live! Casino Philadelphia, adding another operator to the Pennsylvania landscape.
Poker revenue in June fell to $2.4 million from $2.6 million in May. Mount Airy/PokerStars topped operators with $2.0 million in June.

Canada

Play’n GO announces partnership with Canadian operator Loto-Québec

Published

3 days ago

May 16, 2024

GamingAmericas.com

play’n-go-announces-partnership-with-canadian-operator-loto-quebec

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

Published

4 days ago

May 15, 2024

GamingAmericas.com

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.

Bragg Gaming Group

Bragg Gaming Appoints Renowned iGaming Executive Neill Whyte as Chief Commercial Officer

Published

1 week ago

May 10, 2024

GamingAmericas.com

bragg-gaming-appoints-renowned-igaming-executive-neill-whyte-as-chief-commercial-officer

Bragg Gaming Group, a global iGaming technology and content provider, announced that Neill Whyte has been appointed as Chief Commercial Officer (CCO), effective 1st May 2024, establishing a new global commercial structure at the Company and bolstering its leadership team.

Whyte brings over 18 years of experience in the iGaming sector, most recently in the role of Chief Commercial Officer at Digital Gaming Corporation’s (DGC), B2B iGaming Division. After joining DGC in early 2020, he was responsible for the commercially successful launch and growth of its content distribution business in the US.

Prior to joining DGC, Whyte held multiple positions in the gaming industry including as Head of Business Development at Isle of Man-based iGaming specialist Apricot Investments, as Board Member at Swedish iGaming product and Lottery content distributor Genera Networks, and in various senior roles over eleven years at leading iGaming content supplier Microgaming, including as Head of Product Channels.

In his new role with Bragg, Whyte will be tasked with leading the Company’s global commercial teams to drive growth across all of the Company’s product verticals which include proprietary online casino content from its Atomic Slot Lab, Indigo Magic and Wild Streak Gaming studios, exclusive content from content partners, HUB a leading casino content aggregation platform, Fuze player engagement, as well as its award-winning player account management (PAM) platform and turnkey solutions.

Matevž Mazij, Chief Executive Officer at Bragg, said: “I am very pleased to be announcing today the appointment of Neill Whyte as Chief Commercial Officer at Bragg. His iGaming product and market knowledge, together with his record in driving growth from developing successful and mutually beneficial commercial partnerships are exceptional.

“As we leverage our broad content and product portfolio to grow in existing and new markets, including in the United States, Canada, Latin America and Europe, Neill’s unique combination of knowledge, skills and experience in this sector are a perfect fit for our ambitions at Bragg.”

Neill Whyte, Chief Commercial Officer at Bragg, said: “It’s an honor to join Matevž and the wider teams at Bragg already in place across North America, Europe and in India. I have been impressed with the depth and quality of the content, product and technology offerings at Bragg, and its ability to rapidly adapt, certify and deploy this content and technology in newly regulated markets is a distinct advantage.

“We also have a huge opportunity to grow our footprint with our existing customers in markets in which we are already established. Our content and product roadmaps are second to none, and I’m planning to get on the road in the coming weeks and months to meet the team and our customers and to start building for the next stage of mutual growth. I can’t wait to get going.”