Canada

PlayMichigan.com: Online sportsbooks take in $115 million in 10 days while online casinos flourish

Published

3 years ago

February 18, 2021

Michigan’s online sportsbooks and casinos are off to a historic debut with more than $115 million in sports bets in the final 10 days of January, while online casinos generated $29.4 million in gross receipts. Combined with the state’s retail handle, Michigan’s sportsbooks are off to the best start of any state that offers both online and retail sportsbooks, but offers just a narrow window into the future for one of the most promising legal markets in the U.S., according to PlayMichigan analysts.

“The circumstances for Michigan’s online launch could not have been better ahead of two of the biggest sports betting holidays of the year,” said Dustin Gouker, analyst for PlayMichigan.com. “Ultimately, it’s a small sample size, and the results of which are less important than sportsbooks launching and engaging sports bettors and setting the groundwork to flourish for years. By that metric, Michigan’s launch was a success.”

Michigan’s online sportsbooks generated $115.2 million in bets in the 10-day period in January, according to official data released Wednesday by the Michigan Gaming Control Board. That produced $13.3 million in total gross sports betting receipts. With a typically promotion-heavy debut that whittled taxable revenue down to a combined loss of $5.2 million, January’s bets yielded $111,696 in state tax revenue.

Combined with January’s retail sportsbook handle, which reached $35.7 million in January, Michigan’s total sports betting handle hit $150.8 million. That makes Michigan the highest total monthly handle for a state debuting online sports betting in U.S. history, snapping Tennessee’s mark of $131.4 million set in November.

In all, online sports betting accounted for 76.3% of the state’s handle. In fact, 10 days of online sports betting was almost as much as Michigan’s entire $130.8 million retail handle during 2020, a total hampered by pandemic-related restrictions on brick-and-mortar casinos.

“There is no questioning the power of online sports betting at this point,” said Matt Schoch, analyst for PlayMichigan.com. “January was just a snapshot, but online betting will eventually account for 90% or more of the state’s total handle, which would put it much more in line with other legal jurisdictions that offer both online and retail betting.”

Michigan got off to a quick start in large part because it launched on Jan. 22 with 10 online sportsbooks, more than any other state in U.S. history. That list includes the nation’s two largest operators FanDuel and DraftKings, as well as its main challengers, including Penn National’s Barstool-branded app, BetRivers, and BetMGM.

Of those, FanDuel, which partners with the MotorCity Casino, topped the market in the first month with $32.6 million in wagers. That produced just $622,372 in gross sports betting receipts. DraftKings/Bay Mills Indian Community was second with a $28.2 million handle, yielding $3.4 million in gross receipts. BetMGM/MGM Grand Detroit’s $22.8 million handle led to market-topping $5.1 million in gross receipts.

The market leaders were followed by:

Barstool/Greektown Casino ($27.5 million handle; $3.3 million gross receipts)
PointsBet/Lac Vieux Desert Band of Lake Superior Chippewa Indians ($1.5 million handle; $388,381 gross receipts)
BetRivers/Little River Band of the Ottawa Indians ($1.1 million handle; $191,261 gross receipts)
William Hill/Grand Traverse Bay Band of Ottawa and Chippewa Indians ($692,319 handle; $125,659 gross receipts)
Twin Spires/Hannahville Indian Community (327,661 handle; 39,792 gross receipts)
FOX Bet/Little Traverse Bay Bands of Odawa Indians ($160,052 handle; $70,737 gross receipts)
Golden Nugget/Keweenaw Bay Indian Community ($106,904 handle; $21,698 gross receipts)
Wynn/Sault Ste. Marie Tribe of Chippewa Indians ($248,879 handle; 60,232 gross receipts)

“Launching with nine operators ready to go from the beginning is unlike anything else we’ve seen before,” Gouker said. “Having FanDuel and DraftKings, in addition to BetMGM, BetRivers, and Barstool, accepting bets on the first day of operation makes Michigan instantly one of the most competitive markets in the U.S. The vastness of choices is great for consumers, obviously. But it shows just how much confidence operators have in the future of the Michigan market.”

Online casinos and poker

Online casinos and poker enjoyed an impressive debut themselves, hitting $29.4 million in gross receipts, more than any other in U.S. history in online casino gaming’s first month. That yielded $4.3 million in tax revenue in its 10-day debut in January.

Online casinos and poker racked up $2.9 million per day in gross receipts, a per-day tally that has only been topped by New Jersey, the nation’s largest online gaming market.

The BetMGM/MGM Grand Detroit easily topped the market with $11.1 million in gross receipts, which generated $1.7 million in taxes.

“Online sportsbooks draw more attention, but online casinos are typically a far more consistent revenue generator for state governments,” Schoch said. “With nearly $30 million in 10 days, Michigan is well on its way to becoming one of the giants in online gaming.

For more information and analysis on regulated sports betting in Michigan, visit PlayMichigan.com/news.

Canada

Play’n GO announces partnership with Canadian operator Loto-Québec

Published

4 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

5 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.”