Canada

Indiana Sportsbooks Up, But Bets Still Off Nearly $160 Million

Published

5 years ago

June 10, 2020

Sports world slowly starting to reopen, giving some reason for optimism, according to PlayIndiana

LAS VEGAS — Indiana’s sportsbooks lost out on nearly $160 million in bets in May even as they produced a modest improvement over April, according to PlayIndiana estimates. And while the sports world moves closer to reopening, the shut down could have more long-ranging effects on Indiana as neighboring states rush to open up sports betting to shore their budgets.

“In the short-term, the path to recovery is relatively straightforward,” said Dustin Gouker, lead analyst for PlayIndiana.com. “Sports must return. The good news is that the PGA Tour expected to start this weekend and the NBA and other major sports are closer to a return. The bottom line is that there is now a light at the end of this tunnel.”

Indiana’s online sportsbooks — which again accounted for the state’s entire handle — accepted $37.3 million in bets in May, according to official reporting released Wednesday. That was up 41.9% from the record-low $26.3 million in April.

May’s wagers produced $3.2 million in adjusted gross revenue, doubling the $1.6 million in April, and yielded $302,097 in tax revenue for the state. But a more typical May would have attracted more than $200 million in bets, according to PlayIndiana estimates. Retail sportsbooks, which remain closed, would have alone generated nearly $45 million in bets.

European Gaming Congress 2024 (Warsaw, Poland)

Bettors did find a bit more to bet on in May, including NASCAR and European soccer. And that helped boost bets on “other” sports than football, basketball, and baseball to $30.5 million in May, up from $21 million in April.

“Online sportsbooks have proven to be resilient,” said Jessica Welman, analyst for PlayIndiana.com. “Operators have been remarkably creative in keeping bettors engaged, even with fringe sports as the main attraction. There is no making up for what has been lost, but weathering the storm has always been the priority. And I think most, if not all, have been successful so far in doing that.”

When the market does normalize, Indiana will likely be facing some additional headwinds. When Indiana sports betting launched last fall, none of its neighbors had yet to legalize online or retail sports betting. But now Michigan has launched its industry, Illinois legalized sports betting and just eliminated its initial in-person registration requirement for online sportsbooks, and now a bill to legalize betting in Ohio is moving through the statehouse.

“Indiana’s main advantage when it launched was that it had such limited competition in the Midwest,” Gouker said. “That is obviously changing, which was inevitable. But Indiana still has one of the most solid regulatory infrastructures in the U.S. And that will help keep the state ahead of the curve.”

Market leader DraftKings/Ameristar Casino generated $20.1 million in bets, up from $13.6 million in April. That yielded $1.8 million in gross receipts, up from $908,322. FanDuel/Blue Chip Casino was second with a $12.3 million handle, up from $9.7 million, resulting in a $1.1 million win, up from $558,155.

The market leaders were followed by:

BetRivers/French Lick Resort ($2.4 million handle, up from $2.1 million; $168,721 win, up from $116,726)
BetMGM/Belterra ($1.5 million handle, up from $418,195; $123,467 win, up from $48,043)
PointsBet/Hollywood Lawrenceburg ($986,258 handle, up from $449,638 handle; $74,687 win, up from -$4,768)
BetAmerica/Rising Star Casino ($37,323 handle, up from $3,886; $10,042 win, up from $3,519)
Caesars/Horseshoe Hammond ($8,063 handle, $2,755)

While online sportsbooks struggled to attract bettors, the market did receive a new competitor with the launch of the Caesars Sportsbook app in late May. That adds a shot of confidence in the future of the market.

“Adding a heavyweight like Caesars to Indiana’s mix will only help the market once it returns to something more closely resembling normal, Welman said. “It shows that operators still believe in the potential of the Indiana market even as it remains quiet.”

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

Canada

Playson signs agreement with Light & Wonder in global distribution deal

Published

9 hours ago

January 30, 2025

George Miller

playson-signs-agreement-with-light-&-wonder-in-global-distribution-deal

Reading Time: 2 minutes

The award-winning game studio will deliver titles to players in the UK, Canada and Latin America

Playson, the accomplished digital entertainment supplier, has forged a major global content deal with Light & Wonder to significantly enhance the reach of its extensive games portfolio.

This landmark agreement will enable Light & Wonder’s expansive operator network across the UK, Canada, and Latin America to gain access to Playson’s engaging offering.

UK-based operator Dazzletag Entertainment Ltd was the first to go live with the studio’s creative releases last month, with SUPERCHARGED CLOVERS: HOLD AND WIN and 3 POTS RICHES: HOLD AND WIN launched across its online casino brands.

Light & Wonder’s content marketplace is utilised by some of the biggest operator brands from across the globe, providing them with access to more than 3,500 games from a host of third-party studios to allow them to build personalised, mobile-ready player experiences and stay ahead of regulatory changes.

The partnership signifies the strength of Playson’s reputation as a respected and highly sought-after provider to operators globally, as the rising demand for its games looks set to take the studio to new heights for 2025.

Blanka Homor, Sales Director at Playson, said: “Our deal with Light & Wonder is a major milestone in our strategic roadmap, as we embark on the next chapter of our global growth. This agreement expands our reach and allows us to deliver our appealing titles to new operators and players.

“The launch of our titles across Dazzletag’s two brands is a great start, and we are confident this relationship will further elevate our presence in the ever-evolving online casino space.”

Steve Mayes, Senior Director of Partnerships at Light & Wonder, said: “We are delighted to be working with such a highly respected digital entertainment provider and deliver their portfolio to our network. This strengthens our commitment to offering operators the best game releases available.

“We look forward to other successful launches in 2025, as we continue to support our operators with diverse content.”

The post Playson signs agreement with Light & Wonder in global distribution deal appeared first on European Gaming Industry News.

Canada

NorthStar Gaming Announces $43.4 Million Long-Term Debt Financing

Published

9 hours ago

January 30, 2025

GamingAmericas.com

northstar-gaming-announces-$43.4-million-long-term-debt-financing

NorthStar Gaming Holdings Inc. announced that the company has, subject to final approval of the TSX Venture Exchange, entered into a credit agreement (the “Credit Agreement”) in respect of a senior secured first lien term loan facility providing for loans in an aggregate principal amount of up to $43.4 million CAD (being the approximate equivalent of $30,000,000 USD) (the “Credit Facility”) to be made available by Beach Point Capital Management LP (“Beach Point”). Playtech plc (“Playtech”) and certain Playtech subsidiaries have agreed to provide credit support for certain obligations under the Credit Facility. The Credit Facility represents a significant milestone for NorthStar, strengthening its balance sheet and enabling the Company to continue to accelerate its growth initiatives.

“This is a pivotal moment for NorthStar, marking the largest financing in our history. This Credit Facility strengthens our balance sheet and directly supports our ability to scale operations and drive the business towards profitability with a single-minded focus. We are grateful to Beach Point Capital Management for their trust in our strategy and vision. We are also thankful for Playtech’s steadfast partnership which was instrumental in securing this funding, reinforcing their value both strategically and as a technology provider,” said Michael Moskowitz, Chair and CEO of NorthStar.

“Beach Point has deep experience investing across the gaming sector and is excited to partner with NorthStar to support their strategic initiatives. The online gaming sector has been growing rapidly, and this investment reflects our confidence in the Company’s leadership, market potential, and ability to deliver long-term sustainable growth. Likewise, we value the partnership with Playtech, who are contributing their leading technology, global reach, and strategic vision towards NorthStar’s continued success,” said Gabriel Fineberg, Managing Director at Beach Point.

The purpose of the Credit Facility is to support NorthStar’s continued growth by significantly strengthening the Company’s balance sheet. The Company will use the proceeds of loans made pursuant to the Credit Facility: (i) to repay the aggregate $9.5 million CAD principal amount (plus accrued interest) loaned to the Company by Playtech pursuant to unsecured, interest-bearing promissory notes dated April 25, 2024, September 13, 2024 and December 16, 2024; (ii) to fund an interest reserve account in respect of the Credit Facility in an amount equal to $7,000,000 CAD; (iii) for working capital and general corporate purposes; and (iv) to pay transaction costs in connection with the Credit Facility.

The post NorthStar Gaming Announces $43.4 Million Long-Term Debt Financing appeared first on Gaming and Gambling Industry in the Americas.

Blanka Homor Sales Director at Playson

Playson strengthens Canadian footprint with Titanplay partnership

Published

2 days ago

January 28, 2025

GamingAmericas.com

playson-strengthens-canadian-footprint-with-titanplay-partnership

Playson, the established digital entertainment supplier, has secured its latest partnership in Canada after launching its games portfolio with rising iGaming operator Titanplay.

After obtaining its Ontario licence and going live in June earlier last year, Titanplay has made impressive strides in a short space of time with its online casino offering resonating with players across the province.

The agreement sees Playson support Titanplay’s ongoing expansion across Ontario with the supplier’s industry-renowned Hold and Win portfolio now available on the operator’s website, integrated via Relax Gaming’s aggregation platform.

Titles including Coin Strike: Hold and Win, Diamonds Power: Hold and Win and Pink Joker: Hold and Win will enable players to enjoy a feature-led, captivating gameplay experience and expand Titanplay’s rapidly expanding portfolio.

Playson’s latest tie-up underlines its intent of further establishing its brand within Ontario after successfully entering the Canadian province back in 2022. The provider’s industry-renowned portfolio continues to drive long-term value for operators worldwide.

Blanka Homor, Sales Director at Playson, said: “We are proud of the footprint we have established in Ontario with local players truly appreciating the Playson experience. Partnering with an exciting name in the region like Titanplay allows us to accelerate our progress and bring our premium offering to an increased pool of players.

“We look forward to gauging the response from Titanplay enthusiasts and watching this partnership grow from strength to strength.”

Titanplay management commented: “At Titanplay, we pride ourselves with working with industry-renowned names and partnering with Playson seamlessly fits into our plans of becoming a household name in Ontario and across Canada.

“Our portfolio will undoubtedly be elevated by Playson’s Hold and Win collection, offering players a dynamic offering of feature-filled, graphically advanced titles.”

The post Playson strengthens Canadian footprint with Titanplay partnership appeared first on Gaming and Gambling Industry in the Americas.