Canada
Mohegan Announces First Quarter Fiscal 2023 Operating Results
Mohegan Tribal Gaming Authority has announced the operating results for its first fiscal quarter ended December 31, 2022.
“Our consolidated Adjusted EBITDA of $101.1 million continues our trend of strong performance. Our diversification strategy and continued focus on profitability have enabled Mohegan to offset some of the inflationary and labor pressures and achieve these strong results,” Raymond Pineault, Chief Executive Officer of Mohegan, said.
“Our Adjusted EBITDA margin of 24.9% was 605 basis points favorable compared with our pre-COVID-19 first quarter of fiscal 2020 and 62 basis points favorable compared with the prior-year period,” Carol Anderson, Chief Financial Officer of Mohegan, said.
The growth in net revenues compared with the prior-year period was primarily driven by a full period of operations and a return to relatively normal operating conditions at the Niagara Resorts, combined with the continued growth in online casino gaming and sports wagering operations in Connecticut.
Mohegan Sun
Net revenues decreased $12.2 million compared with the prior-year period due to declines in both slot and table games revenues, reflecting lower overall volumes as the prior-year benefited from Mohegan Sun’s 25th anniversary celebration. Results were also impacted by unfavorable slot and table hold and weather in the current-year period. Adjusted EBITDA of $67.8 million was 13.3% unfavorable compared with the prior-year period, due to lower volumes and increased labor and other operating expenses in the current-year period. The Adjusted EBITDA margin of 28.3% was 150 basis points favorable compared with pre-COVID-19 first quarter of fiscal 2020, but 277 basis points unfavorable compared with the prior-year period.
Mohegan Pennsylvania
Net revenues decreased $4.4 million compared with the prior-year period primarily due to lower gaming revenues as a result of lower gaming volumes that were impacted by poor weather and table games hold percentage. Adjusted EBITDA decreased $2.4 million, or 16.7%, compared with the prior-year period, primarily due to the decrease in net revenues. Adjusted EBITDA margin of 20.3% was 220 basis points favorable compared with pre-COVID-19 first quarter of fiscal 2020, but 239 basis points unfavorable compared with the prior-year period.
Niagara Resorts
Net revenues increased $11.2 million compared with the prior-year period due to higher gaming volumes and a substantial increase in non-gaming revenues. These results reflect increased volumes related to the opening of the 5000 seat OLG Stage entertainment venue and the properties operating without various COVID-19 related restrictions in the current year. Adjusted EBITDA increased $1.0 million or 8.7%. Adjusted EBITDA margin of 16.1% was 1160 basis points favorable compared with pre-COVID-19 first quarter of fiscal 2020, but 134 basis points unfavorable compared with the prior-year period due to the continued reintroduction of certain lower margin non-gaming amenities, as well as increased labor, marketing, and other operating costs.
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Bally Bet Sportsbook & Casino app
Bally’s Interactive Launches the New Bally Bet Sportsbook & Casino App in Ontario
Bally’s Interactive, the digital and sports betting division of Bally’s Corporation, has launched the all-new Bally Bet Sportsbook & Casino app in Ontario, Canada. This latest release marks another significant milestone for the company, following the recent app update in New Jersey and a series of successful app launches in the past year, including the introduction of Bally Bet Sportsbook across multiple states and Bally Casino in Rhode Island.
The updated Bally Bet Sportsbook & Casino app represents a major step forward, as it combines the functionalities of the existing Bally Casino app and Bally Bet Sportsbook app into one comprehensive platform. Powered by White Hat Gaming, this new app allows players residing in or traveling to Ontario to conveniently place wagers on both sports and casino games using a single app, account, and universal wallet.
“We are thrilled to introduce the new Bally Bet Sportsbook & Casino app, marking a significant milestone for Bally’s. This integrated platform merges the features of our previous apps, providing players in Ontario with a seamless experience for both sports and casino betting. Our commitment to enhancing the player experience remains at the forefront as we strive to personalize the enjoyment of playing Bally Bet,” said Robeson Reeves, CEO of Bally’s Corporation.
BCLC
Be #GiftSmart: Scratch the Idea of Gifting Scratch & Win Tickets to Kids
BCLC reminds adults to gift responsibly this holiday season
With the holiday season in full swing, BCLC is reminding British Columbians to gift responsibly and scratch lottery products from their shopping lists for kids.
“Scratch & Win tickets can make great stocking stuffers for the adults in your life, but they’re not for kids,” said Ryan McCarthy, BCLC’s Director of Player Health. “The research shows that children who have early encounters with gambling are four times more likely to develop riskier gambling behaviour as they grow up. While people are out shopping for those last-minute gifts, BCLC wants adults to be aware of the potential risks associated with gifting lottery products to children and to consider safer alternatives.”
While Scratch & Win tickets are among the most common ways kids can be introduced to gambling, children are increasingly exposed to various online forms, such as gambling streams.
“With the convergence of gaming and gambling, youth are becoming more exposed to gambling content in online spaces like streaming sites, where creators are able to live-stream their own gambling, usually while playing online slots and instant games,” said Dr. Luke Clark, Director for Gambling Research at UBC. “Our research at the UBC Centre for Gambling shows that a higher frequency of watching online gambling streams is associated with a more positive attitude towards gambling and a high intention to gamble in the future.”
In B.C., it is illegal to sell lottery products to anyone under the age of 19 and BCLC encourages adults to have conversations with the kids in their lives about the risks associated with gambling.
“Open and honest conversations are crucial when it comes to navigating childhood exposure to gambling,” said McCarthy, who shared the following tips to adults:
- Monitor for gambling-related lifestyle changes. For example, developing a positive attitude towards gambling or a preoccupation with video games or streaming sites.
- Be a positive role model. Exhibit safer gambling behaviour and talk about the risks.
- Limit exposure. Monitor kids’ online activities and discourage engagement with gambling content. Explain how gambling is based on chance.
AGCO
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.
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