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Gambling in the USA

INDIANA SPORTSBOOKS MAKE MOST OF FEBRUARY WITH $187 MILLION IN BETS Super Bowl and basketball drive state handle to new monthly record, according to PlayIndiana analysts

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The Super Bowl helped Indiana’s retail and online sportsbooks post a February that landed another monthly record. And with March Madness ahead and new online casinos launching, Indiana is positioned to weather the launch of retail sports betting in Michigan and Indiana, according to analysts from PlayIndiana.com.

“Indiana’s market continues to mature, including the launch of more online sportsbooks, even as the football season ends,” said Dustin Gouker, lead analyst for PlayIndiana.com. “The state has a near-perfect storm of success, and will continue to be among the shining stars in legal sports betting even as neighboring states move to legalize sports betting.”

Indiana’s February handle hit $187.2 million, up 9.6% from a then-record $170.8 million handle generated in January, according to official reporting released Tuesday. February produced $11.1 million in adjusted gross revenue, down 15.9% from $12.9 million, yielding $1.1 million in state taxes.

Bettors placed $11.6 million in bets on football, almost entirely on the Super Bowl. And basketball continues to be a significant draw, generating $90.2 million in February wagers. Even Oscars betting appeared to be a hit, accounting for a significant portion of the $39.7 million wagered on the state’s “other” events.

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“The Super Bowl was the single most significant event in February, but Indiana has done exceptionally well with basketball,” said Jessica Welman, analyst for PlayIndiana.com. “That balance is helping Indiana avoid a post-football slump, which is common in jurisdictions such as Nevada.”

Indiana’s market advantages, most notably its ability to attract out-of-state bettors, have continued to hold, too. None of Indiana’s neighbors have launched legal sports betting yet, and because Indiana does not require in-person registration for mobile users, the Hoosier State can easily capitalize by allowing out-of-state bettors to simply cross the state line to make a bet.

Indiana will remain a friendly neighbor for sports bettors for the foreseeable future. Illinois and Michigan have legalized sports betting, with both launching retail betting this week. That will have some impact, but it should be blunted without an online component yet in either state. And progress toward legalizing sports betting is uncertain in both Kentucky and Ohio.

“Indiana’s relationship with out-of-state bettors takes many forms, ranging from those who cross the border to make bets at nearby land-based sportsbooks to those who hop over the state border in cars and place bets by phone,” Welman said. “Indiana’s sportsbooks have been aggressive in attracting that business, of course. It won’t last forever, but Indiana should enjoy the advantage while it’s there.”

Online sportsbooks generated $145.9 million in bets in February, or 77.9% of the state’s handle. And more sportsbooks came online with the Feb. 25 launch of BetMGM, which operates under the Belterra Casino license. PointsBet/Hollywood Lawrenceburg launched on March 5, and BetIndiana/Hard Rock is expected to launch this month, too.

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In February, DraftKings/Ameristar Casino remained the online market leader with $74.1 million in bets, up from $66 million in January. That generated $5.7 million in gross receipts, up from $4.6 million. But FanDuel/Blue Chip Casino continued to gain ground on its rival, tallying a $63.8 million handle in February, up from $49.5 million. That resulted in a $2.7 million win, up from $1.9 million.

The market leaders were followed by:

  • BetRivers/French Lick Resort ($7.7 million handle, down from $7.8 million; $348,869 win, down from $590,178)
  • BetAmerica/Rising Star Casino ($212,953 handle, up from $89,622; -$6,169 win, down from $1,854)
  • BetMGM/Belterra ($70,061 handle; $13,175 win)

Market proximity continues to dictate Indiana’s retail market. Horseshoe Hammond, near Chicago, has consistently led the retail market. In February, Horseshoe Hammond posted a $12.4 million handle, down from $13.7 million in January. That generated $52,445 in gross receipts, down from $1.8 million. Horseshoe Hammond was followed by:

  • Hollywood Lawrenceburg ($6.8 million handle, down from $7.8 million; $308,577 win, down from $578,993)
  • Ameristar Casino ($5.9 million handle, down from $7 million; $345,660 win, down from $1.4 million)
  • Indiana Grand ($4.7 million handle, down from $5 million; $516,760 win, up from $365,318)
  • Harrah’s Hoosier Park ($4.5 million handle, down from $5.4 million; $301,764 win, down from $321,785)
  • Caesars Southern Indiana ($2.2 million handle, down from $2.4 million; $16,774 win, down from $143,966)
  • Blue Chip Casino ($2.1 million handle, down from $2.7 million; $3,008 win, down from $279,868)
  • Tropicana Evansville ($1.6 million handle, down from $2 million; $31,513 win, down from $210,974)
  • Belterra Casino ($864,230 handle, down from $934,724; $46,173 win, up from $8,077)
  • French Lick Resort ($387,656 handle, down from $533,634; $27,015 win, down from $14,132)
  • Rising Star Casino ($123,393 handle, down from $213,552; $11,723 win, up from -$40,497)

“The successful partnership between DraftKings and Ameristar Casino in East Chicago, which generates the largest combined online and retail handle, crystalizes Indiana’s market advantages,” Welman said. “The DraftKings app was first to the market, and its ease of use has kept it on top. Meanwhile, Ameristar continues to draw heavily from the Chicago market.”

For more revenue information on Indiana sportsbooks, visit PlayIndiana.com/revenue.

Diamondhead

Diamondhead Casino Corporation Retains Colliers to Assist with Marketing and Financing

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Diamondhead Casino Corporation has announced that it has retained Colliers to assist the Company in marketing and financing the development of its Diamondhead, Mississippi Property and/or to sell all or part of the Diamondhead Property. Colliers has prepared marketing materials to market and promote the Property and is now in the process of soliciting interested parties.

The Company owns, through its wholly-owned subsidiary, Mississippi Gaming Corporation, an approximate 400-acre tract of land on Interstate 10 in Diamondhead, Mississippi. The property fronts Interstate 10 for approximately two miles and fronts the Bay of St. Louis for approximately two miles. Over eighteen million vehicles pass the site yearly. The property is already zoned as a Special Use District-Waterfront Gaming District, which permits the development of a casino resort. In addition, the Mississippi Gaming Commission has granted Mississippi Gaming Corporation Gaming Site Approval on a fifty acre site located on the east side of the property.

Patrick Slagle, Vice President of Colliers in Washington, D.C., said: “We believe the Diamondhead site is one of the best remaining gaming sites in the entire country. Its location on Interstate 10, between Biloxi and New Orleans, coupled with the accessibility to the site provided by nearby airports makes it one of the most easily accessible gaming sites in the country. It is a 400-acre blank slate with over two miles of waterfront and ready to be developed as a mixed-use resort with a casino as an anchor and a two mile boardwalk. We know of nothing comparable and no other opportunity of this nature in the industry. With over eighteen million vehicles passing the site annually on Interstate 10, it is an ideal gaming location. The Gulf Coast region of the United States where this casino would be located, is one of the fastest growing gambling markets in the United States. We look forward to finding the perfect match for this outstanding location.”

Under its agreement with Colliers, the Company is free to continue discussions with other interested parties. Unless extended by the parties, the Agreement will terminate at the end of this year.

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The Company also announced that its subsidiary, Mississippi Gaming Corporation (MGC), had entered into a Settlement Agreement with Cooperative Energy, a Mississippi Electric Cooperative, which had filed an eminent domain action against MGC, for $1,000,000 million in return for easements along the northern portion of the property. In October of 2023, Mississippi Gaming Corporation received $845,378 as part of the settlement amount. The parties are working on the wording of the easements. Once the easements are finalised and signed, Cooperative Energy will pay MGC the remaining amount due of $154,622.

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Gambling in the USA

Gaming Americas Weekly Roundup – June 10-16

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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

The Michigan Gaming Control Board recently convened a panel discussion focused on college sports betting regulations and compliance measures. The June 3 informative session offered insights into the intricacies of governing college sports betting, emphasising the importance of maintaining integrity within the industry.

Traderland.io, an innovative interactive trading simulator gaming universe, has officially launched. The dynamic trading platform offers users the chance to immerse themselves in a socially-driven game landscape while honing their investment and asset-trading skills. Since its initial release, Traderland.io has rapidly gained popularity, attracting over 15,000 users.

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Oxygen Esports announced the establishment of Quick Fix Media (QFM), a new, independent esports content and media incubator. QFM’s charter provides material and strategic assistance to community-based esports news, content and media outlets, to support their growth in esports coverage and community cultivation.

Fanatics Betting & Gaming has appointed Selena Kalvaria as Chief Marketing Officer to lead brand development, leveraging an integrated marketing approach to drive creativity and growth through oversight of Brand Management, Media, Content, Creative and Communications. Selena joins Fanatics’ betting division after three years at luxury label Gucci, where she was most recently SVP, Brand & Client Engagement for its Americas business.

Boyd Gaming Corporation announced the appointment of Michael A. Hartmeier to its Board of Directors. Hartmeier is the former group head of lodging, gaming and leisure investment banking for Barclays, and previously served as group head for hospitality and gaming for both Lehman Brothers and Credit Suisse First Boston.

Mohegan announced the promotion of Nelson Parker as the company’s Chief Strategy Officer. Parker was previously the SVP of Strategic Development for Mohegan. In this new role, Parker is responsible for identifying, assessing and executing growth opportunities and strategic new ventures for the company.

RotoWire.com has launched its latest innovation: the “Picks & Props” app. Unveiled within the app store earlier this month, it is now easier than ever to stay up to date on recommendations and predictions for all fantasy pick’em and players props from any mobile or tablet device.

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Partnerships

Blazesoft’s Zula Casino has entered into a partnership with Casimba Gaming, which will see it become its newest aggregation partner. Through this alliance, Habanero’s hit slot titles like Laughing Buddha, Disco Beats and Lucky Lucky were launched on ZulaCasino.com. With the popular online social casino gaining access to Casimba Gaming’s entire content portfolio from more than 95 of the industry’s top studios, users can discover fresh titles in the lobby’s “New” category.

The Atlantic Coast Conference (ACC) and Integrity Compliance 360 (IC360), formerly U.S. Integrity and Odds On Compliance, have announced a comprehensive partnership. This partnership will provide each ACC member institution access to Integrity Compliance 360’s integrity monitoring technology and data insights. The proprietary integrity monitoring technology analyses various data sets to identify irregular contest-level officiating and wagering patterns proactively.

Midnight Gaming Corporation announced that it has entered into a Venue Event Booking Services Agreement with Compass Arena. The agreement gives Midnight a five year exclusive service period to provide esports and gaming events, conventions and tournaments to Compass.

The post Gaming Americas Weekly Roundup – June 10-16 appeared first on European Gaming Industry News.

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Canada

Red Rake Gaming launches with The Score

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Red Rake Gaming are delighted to have partnered with Penn Entertainments, The Score, in the provision of the Red Rake Gaming content across North America, in New Jersey, Pennsylvania and Ontario, through its partnership with Light and Wonder.

Penn, one of the most renowned gaming companies across North America will have access to Red Rake Gaming’s top performing, high action games to further complement Penn’s delivery of the best gaming offering to its players. Players can expect a wide range of thrilling games, cutting-edge technology, and exclusive tournaments that will keep them engaged and entertained like never before. With the collective strengths of Red Rake Gaming and Penn, this partnership is set to elevate the gaming experience to new heights, setting a benchmark for excellence in the industry.

The partnership covers the distribution of Red Rake Gaming’s diverse, localised portfolio, including its gamification tools. Games will include the newest releases, including its record breaking Super30Stars – the non-stop, action-packed slot which combines feature games and bonus rounds from all its predecessors in the Super series of games, “Gods of Ireland,” a game that boasts a plethora of features, free spins, and immersive minigames,  “777 Heist 2: The Art Forger,” which introduces thrilling “Cascading Reels” and intriguing skill-based gameplay elements, or “Mystic Spirits”, that offers a unique twist by providing payouts in both directions, adding an extra layer of excitement to the gaming experience.

This partnership represents a pivotal milestone in Red Rake Gaming’s ongoing commitment to providing unparalleled content within its current roster of regulated markets. It also underscores the resounding demand from players worldwide for the adrenaline-fueled gaming experiences that Red Rake Gaming is renowned for delivering.

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Nick Barr, Managing Director for Red Rake Gaming Malta, commented on the partnership stating: “Partnering with The Score for the roll out of the Red Rake Gaming portfolio of games reaffirms the demand for action-packed and engaging content from players across the globe. We could not be more thrilled to be working with one of the industry’s leading brands across the regulated gaming space and we very much look forward to contributing to their ongoing successes.”

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