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Gambling in the USA

Gaming Americas Weekly Roundup – April 8-14

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Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

Latest News

FanDuel Group, the premier online gaming company in North America and an Official Partner of Churchill Downs Inc., announced five time Entertainer of the Year Luke Bryan and Grammy award-winning R&B singer Ne-Yo as the headlining performers at FanDuel’s inaugural Kentucky Derby Party. The exclusive, invite-only event will take place on Friday, May 3 at Paristown Arts and Entertainment District in Louisville, Kentucky from 7:00 PM to 12:00 AM.

TPI, a leading provider of innovative player communication solutions for the casino industry, has appointed Joe Tingson as its new Vice President of Customer Success. With his unparalleled dedication to his customers, Joe will play a pivotal role as a leader for our digital Customer Success and Product teams.

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PrizePicks, the largest daily fantasy sports operator in North America, has announced plans for its new 33,000 square foot Atlanta Headquarters, which will be located in the Star Metals Building in Midtown Atlanta. The company plans to grow its workforce by 1000 new jobs over the next seven years, the economic impact of which will be $25M to the state of Georgia.

Century Casinos Inc. has announced that it opened its hotel in Cape Girardeau, Missouri, The Riverview. The Riverview is a 69 room, six-story building with 68,000 square feet that is adjacent to and connected with Century Casino Cape Girardeau. The project cost $30.5 million and was financed with cash on hand.

Churchill Downs Incorporated (CDI) has announced the opening of Terre Haute Casino Resort in Terre Haute, Indiana. The $290 million investment includes a casino floor with 1000 slot machines, 36 table games, and a state-of-the-art sportsbook. The 400,000-square-foot entertainment venue also features regionally inspired bars and restaurants including: Four Cornered Steakhouse, Rockwood Bar & Grill, The Soda Shoppe, Crossroads Center Bar and High Limit Bar.

Bragg Gaming Group Inc., a global B2B gaming technology and content provider, announced that Chief Financial Officer (CFO), Ronen Kannor, has notified Bragg’s board of directors (Board) that he will resign from his position to pursue other career opportunities, effective June 3, 2024. The Company confirms that the search for a replacement CFO has commenced.

Partnerships

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EQL Games has partnered with global aggregation leader and NeoGames company, Pariplay, to provide the Virginia Lottery, through an agreement with NeoPollard Interactive, with a series of eInstant iLottery games for their industry-leading digital platform.

JACK Entertainment LLC announced the selection of Konami Gaming Inc.’s SYNKROS to power industry-leading systems technology across its 1.5 million square feet of casino entertainment space. The Ohio-based gaming operator’s portfolio includes a combined 2600+ gaming machines and 85 table games at JACK Cleveland Casino in downtown Cleveland, and at JACK Thistledown Racino, located approximately 10 miles to the southeast.

PrizePicks, the largest daily fantasy sports operator in North America, announced that the company has reunited with the Atlanta Braves as the club’s Official Daily Fantasy Sports Partner for the 2024 season. The partnership extends a longstanding relationship that dates back to 2020, with the two Atlanta-based companies continuing to work together on unique opportunities for their dedicated fans.

The post Gaming Americas Weekly Roundup – April 8-14 appeared first on European Gaming Industry News.

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Detroit casinos

Detroit Casinos Report $109.44M in April Revenue

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The three Detroit casinos reported $109.44 million in monthly aggregate revenue (AGR) for the month of April 2024, of which $107.87 million was generated from table games and slots, and $1.57 million from retail sports betting.

The April market shares were:

  • MGM, 46%
  • MotorCity, 30%
  • Hollywood Casino at Greektown, 24%

Monthly Table Games, Slot Revenue, and Taxes

The casinos’ revenue for table games and slots for the month of April 2024 decreased 1.6% when compared to the same month last year. April’s monthly revenue was 11.8% lower when compared to the previous month, March 2024. From Jan. 1 through April 30, the Detroit casinos’ table games and slots revenue decreased by 1.6% compared to the same period last year.

The casinos’ monthly gaming revenue results were mixed compared to April of last year:

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  • MGM, down 0.7% to $49.86 million
  • MotorCity, down 4.5% to $32.68 million
  • Hollywood Casino at Greektown, up 0.6% to $25.33 million

In April 2024, the three Detroit casinos paid $8.74 million in gaming taxes to the State of Michigan. They paid $8.88 million for the same month last year. The casinos also reported submitting $12.8 million in wagering taxes and development agreement payments to the City of Detroit in April.

Monthly Retail Sports Betting Revenue and Taxes

The three Detroit casinos reported $15.28 million in total retail sports betting handle, and total gross receipts were $1.57 million for the month of April. Retail sports betting qualified adjusted gross receipts (QAGR) were up by $1.5 million in April when compared to the same month last year. Compared to March 2024, April QAGR was down by 1.7%.

April QAGR by casino was:

  • MGM: $475,492
  • MotorCity: $516,812
  • Hollywood Casino at Greektown: $578,131

During April, the casinos paid $59,362 in gaming taxes to the state and reported submitting $72,554 in wagering taxes to the City of Detroit based on their retail sports betting revenue.

Fantasy Contests

For March 2024, fantasy contest operators reported total adjusted revenues of $494,162 and paid taxes of $41,510.

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Gambling in the USA

CogniPlay Launches New Social Casino Platform

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CogniPlay has today announced the official launch of their new software product, which aims to provide a robust online sweepstakes or social gaming platform to their clients.The system is designed to be modular, allowing customers to tailor their brand and offering to what they believe will give them optimal performance.

The rise of sweepstake casinos in the US is continuing to gather pace and many companies from real money gaming are investigating the business model and the potentially lucrative revenue opportunity. With no standout platform solution currently on the market, CogniPlay looks to serve clients a full white label style solution with every detail taken care of. Brands like Chumba and Pulsz are already seeing tremendous success and CogniPlay gives an extremely efficient route to market for potential new sweepstake casino owners.

The CogniPlay system has several key integrations which help to deliver the product, including games integrations with the likes of Pragmatic Play, BetSoft, Mascot Gaming and many more, giving them 100s of games for their clients. There are other integration options for their customers to pick from too, including affiliate programme software, CRM platforms and associated products, KYC, ID verification, Geo-IP systems, Gamification, and customer support.

They also have a very long and extensive development pipeline which will see the product offering develop at pace, giving clients an extensive list of options and USPs, and of course giving players a great user experience as a result.

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As well as the platform itself the CogniPlay team, due to their considerable experience, also offer a whole host of managed services, with almost a menu that clients can choose from to fill any gaps in their own skillsets or experience.

It is also this experience that CogniPlay hopes to utilise to great effect to provide industry-leading client management to build successful relationships and partnerships with their clients. CogniPlay’s Chief Executive Officer Allan Turner said, “We are very proud to take the CogniPlay product to market and are excited that people who want to start a new social or sweeps brand can get in touch with us to see what we can do for them, or in fact established brands that are unhappy with their existing provider.

Our underlying principles are that we want to provide the most flexible platform in the space, to enable our clients to create the product they want to have, not for us to dictate the product to them. The two other main areas of focus are that we want to be the most future-proof product on the market with plans for any regulatory or legal changes that may arise in the future, and that we have all the right safeguards in place to ensure that we look after both our clients and players with our responsible gaming setup.

This of course means having the right tech and processes in the key areas of KYC, Geo-IP tech, anti-money laundering, fraud, risk assessment and ID verification.”

 

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Gambling in the USA

XSOLLA RELEASES QUARTERLY ​ INSIGHTS REPORT ON THE FUTURE OF GAMING AND GAME DEVELOPMENT: A PRELIMINARY ANALYSIS OF SPRING 2024 METRICS AND UPCOMING TRENDS

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Key trends include the fast-growing mobile gaming segment, the impact of recent regulations, the integration of blockchain and AI, and the investments in equity and inclusion across the gaming industry.

Xsolla, a global video game commerce company, published the Spring 2024 edition of “The Xsolla Report: The State of Play” today. Launched on the heels of the Game Developers Conference (GDC) 2024, this extensive report provides invaluable insights into the emerging trends and pivotal shifts impacting the gaming industry in the short and long term. ​ It sets the stage to significantly shape the future of mobile gaming, deepen academic connections within the gaming ecosystem, and redefine investment patterns.

In an era where mobile gaming commanded a 49% share of the global market in 2023, this edition of “The State of Play” sheds light on the evolving landscape of mobile gaming. The report navigates through the advancements in global compliance and regulation, including the Digital Markets Act in Europe’s new player engagement strategies, offering a glimpse into the potential future of mobile gaming monetization and distribution. It discusses the impact of cross-platform play and the importance of innovative monetization models, providing actionable insights for developers and industry stakeholders.

“The State of Play” emphasizes the importance of academia in the growth and diversification of the gaming industry. It explores how educational programs and initiatives develop talent and promote diversity and inclusivity within the gaming community. This edition underlines the symbiotic relationship between the gaming industry and academic institutions, highlighting programs that significantly impact students and the industry.

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Berkley Egenes, Chief Marketing and Growth Officer at Xsolla, comments: “As we introduce the latest edition of ‘The State of Play,’ we’re not merely sharing industry insights but advocating for a transformative vision: Equal Access for Everyone. This initiative goes beyond our commitment to innovation and growth within the gaming industry. It’s about breaking down barriers to ensure that every developer, regardless of company size, has the opportunity to showcase their creativity and reach a global audience. Our focus is on providing platforms and tools that foster creative opportunities, international exposure, and the development of unique projects, ensuring that the future of gaming is accessible to all. We aim to empower every player and developer worldwide, ensuring the gaming landscape is as diverse and dynamic as its community.”

The report offers an in-depth analysis of the gaming industry’s current investment climate, including funding trends, mergers, and acquisitions. It outlines the shifts in investment patterns, from the heights of the pandemic-induced boom to a more measured approach in 2024. “The State of Play” provides a roadmap for navigating the industry’s financial aspects, offering insights into strategic investment opportunities and forecasting future trends.

Featuring expert commentary from industry voices like:

  • Mukul Aurora, Co-founder of Appsoleut Games;
  • Mariusz Gasiewski, CEO of Mobile Gaming and Apps Lead at Google;
  • Karla Reyes, Founder and Studio Director,

Anima Interactive, the Xsolla Report: The State of Play is now available for complimentary download. To secure your copy and gain invaluable insights into the gaming industry, visit our website.

 

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