Canada

PlayNJ.com: Sportsbooks cool to $950 million in January while online casinos reach $100 million in revenue

Published

3 years ago

February 18, 2021

New Jersey sportsbooks took in more than $950 million in wagers and a record $82.6 million in revenue in January while the state’s online casinos crossed $100 million in revenue, becoming the first legal gaming jurisdiction in U.S. history to cross that threshold in a single month. The Garden State’s opening salvo to 2021 sets the stage for a year in which the state could reach $10 billion in sports wagers and more than $1 billion in online casino revenue, according to analysts from PlayNJ.

“New Jersey’s online casinos and sportsbooks have defied conventional wisdom from the beginning, and are hitting milestones that many thought would take years longer to reach,” said Dustin Gouker, lead analyst for PlayNJ.com. “The rapid maturation of the online products in New Jersey has made the state the new standard bearer for the modern U.S. gaming industry.”

New Jersey’s sportsbooks fell short of breaking the all-jurisdiction handle record for the sixth consecutive month by collecting $958.7 million in wagers in January, according to official data released Wednesday. That is up 77.5% from $540.1 million in January 2020.

Operator revenue rose to $82.6 million in January, up 29% from $53.6 million in January 2020 and topping December’s record-breaking $66.4 million. And with $10.4 million in state taxes in January, sportsbooks have now generated $107.3 million for the state since launching in June 2018.

The brisk opening month builds momentum for what should be another leap forward this year. If the growth continues through the year, the state could reach nearly $10 billion in sports bets, more than $600 million in revenue, and $75 million in state and local taxes, according to PlayNJ projections.

“2020 was an unusual year, obviously, so year-over-year growth is a good bet so long as the sports schedule remains intact,” said Eric Ramsey, analyst for PlayNJ.com. “Considering the current momentum of New Jersey’s market, the year could really bring some eye-popping results, especially if the retail market can return to health.”

Online betting generated 92.5%, or $886.7 million, of the state’s total handle in January. FanDuel Sportsbook/PointsBet was again the market leader with $41.8 million in gross revenue, up from $29 million in December.

FanDuel was followed in revenue by:

Resorts Digital/DraftKings/Fox Bet ($15.7 million, up from $15.4 million in December)
BetMGM/Borgata ($7.9 million, up from $6.3 million)
Ocean Casino/William Hill ($4.2 million, up from $3.2 million)
Monmouth/William Hill/Sugarhouse/TheScore ($2.3 million, down from $3.3 million)
Hard Rock/Bet365/Unibet ($1.5 million, up from $562,188)
Caesars Sportsbook/888sport ($375,129, down from $489,141)
Golden Nugget/BetAmerica ($176,199, down from $343,849)
Tropicana/William Hill ($76,933, down from $108,427)

Retail sportsbooks began to rebound with $72.1 million in bets, up from $67 million in December. Meadowlands/FanDuel topped retail books in January with $5 million in revenue.

Predictably, the NFL playoffs — which featured an expanded format this year — attracted heavy action, fueling $201.8 million in football wagering in January. But college basketball and the NBA, which enjoyed its first full month of its season, placed basketball first with $320.3 million. And sports categorized as “other,” which includes NHL betting, topped football with $214.4 million.

“With the NHL back in action and the NBA with a full schedule, January’s sports schedule was more or less normal for the first time since February 2020,” Gouker said. “That gives us a reliable barometer for where New Jersey is as a sports betting market.”

Online casinos and poker

New Jersey’s online casinos have been on a roll themselves, hitting $100 million in combined casino games and poker revenue for the first time. In all, online gaming and poker generated $103.8 million in January, up 88.4% from $55.1 million in January 2020 and topping the previous record of $99.5 million set in December. January’s win yielded $15.5 million in state taxes.

Online gaming continues to be one of New Jersey’s great success stories. Its year-over-year revenue is a continuation of a long pattern of growth that has now generated $2.6 billion in operator revenue since launching in November 2013.

“Online casino games continue to show no signs of letting up,” Ramsey said. “Obviously with pandemic-related restrictions in place on Atlantic City casinos, online casinos were in position to pick up some slack. But the online gains made over the last year should withstand the reopening of retail casinos, continuing to buoy the entire gaming industry.”

Some other highlights from January’s report:

Borgata inched closer to the Golden Nugget, which has led the online casino market for years. Borgata generated $28.7 million in January revenue, which was just behind the Golden Nugget’s $31.2 million in January revenue. Resorts Digital, which has also made significant gains over the last year, was third with $22.8 million.
Online casinos and poker generated $3.3 million a day over 31 days in January, up from $3.2 million a day over 31 days in December.
Revenue from online casinos was $101 million, up from $96.4 million in December. Online poker produced $2.7 million, down from $3 million in December.

For more information and analysis on regulated sports betting and online gaming in New Jersey, visit PlayNJ.com/news.

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.”