Canada

PlayPennsylvania.com: Sportsbooks gain in March, online casinos shatter records

Published

5 years ago

April 16, 2021

Pennsylvania’s retail and online sportsbooks took in more than $560 million in wagers, as March Madness helped spur betting to the second-highest monthly volume in state history, according to PlayPennsylvania, which analyzes and researches the state’s regulated online gaming and sports betting market. Sports betting was just one piece of good news in March, as the Keystone State set a fresh record for online casino revenue while the state’s sportsbooks crossed $500 million in lifetime gross gaming revenue.

“March’s results show just how important the NCAA Tournament can be in Pennsylvania and elsewhere, giving a huge boost to sportsbooks at a time when football is dormant,” said Dustin Gouker, lead analyst for PlayPennsylvania.com. “With last year’s tournament canceled, sportsbooks were left a revenue hole that they could not fill. Pennsylvania itself was a bit of an unknown, since the last time the NCAA Tournament was held online sports betting had yet to launch. This really sets sportsbooks up for a strong rest of the year, especially in comparison with 2020.”

For the month, Pennsylvania’s online and retail sportsbooks collected $560.3 million in bets, according to official data released Thursday evening. That was up 326.6% from $131.3 million in March 2020, a month marred by the shutdown of major sports in the U.S., including the NCAA Tournament. The month represented a rebound from February’s $509.6 million handle, even as it fell short of the record $615.3 million handle in January.

Sportsbooks did well on March’s bets, too, producing $41 million in gross gaming revenue — up 376.7% from $8.6 million in March 2020. That yielded $29.4 million in taxable revenue, up 326.1% from $6.9 million a year ago. The revenue produced in March created $10 million in state taxes and $587,047 in local share assessment.

Pennsylvania sportsbooks have now generated $506.7 million in gross gaming revenue since launching, reaching yet another impressive lifetime milestone.

Pennsylvania is the first to report of the four largest sports betting markets. New Jersey should remain the top market, but Pennsylvania could feasibly pass Nevada for No. 2 in the U.S., or Pennsylvania could be passed by Illinois, which continues to gain ground.

“$500 million in gross gaming revenue is a threshold reached by only two other markets, Nevada and New Jersey, a sign of Pennsylvania’s increasingly mature market,” said Valerie Cross, analyst for PlayPennsylvania.com. “Regardless of where Pennsylvania finds itself in the state rankings, it is in an excellent position as online betting gains steam and retail sportsbooks find themselves with fewer pandemic-related restrictions.”

Online sports betting produced 91.8%, or $514.3 million, of March’s handle. The percentage is down from 92.2% of February’s handle. FanDuel Sportsbook/Valley Forge Casino topped the market again with $202.8 million in online wagering, up from $176.3 million in February. Those bets produced $10.4 million in taxable revenue, up from $7.3 million in February. DraftKings/The Meadows was second with $116.6 million in bets, up from $111.7 million in February, yielding $6 million in taxable revenue.

The Barstool-branded Penn National/Hollywood Casino app is still trying to gain ground, generating $63.6 million in March, easily No. 3 in the state but down from $65.6 million in February. That produced $3.3 million in revenue.

The leaders were followed by:

BetMGM/Hollywood Morgantown ($37.4 million handle, up from $33.7 million; $1.7 million in taxable revenue, down from $2 million)
BetRivers/Rivers-Pittsburgh ($24.8 million handle, up from $20.4 million; $1.3 million revenue, down from $1.4 million)
Parx Casino ($18.7 million handle, up from $17.7 million; $1.2 million revenue, down from $1.6 million)
Fox Bet/Mount Airy ($17.5 million handle, down from $18 million; $911,248 million revenue down from $1.3 million)
PlaySugarHouse/Rivers-Philadelphia ($17.2 million handle, up from $14.6 million; $912,183 in revenue, up/down from $957,245)
Unibet/Mohegan Sun Pocono ($10.2 million handle, up from $7.5 million; $272,627 revenue, down from $416,533)
Betfred/Wind Creek ($2.2 million handle, down from $1.7 million; -$186,870 revenue, down from $50,386)
Caesars/Harrah’s ($1.7 million handle, up from $1.1 million; $136,078 revenue, up from $3,541)
TwinSpires/Presque Isle Downs ($1.4 million handle, up from $1.3 million; -$14,229 revenue, down from $5,496)

Retail sportsbooks generated $45.9 million in handle, up from $39.8 million in February. Sportsbooks won $3.4 million on February’s bets. The top retail sportsbook was Rivers-Philadelphia with $7 million in bets, edging Parx Casino’s $6.9 million.

“The Penn National-Barstool partnership has been successful, but its gains on the market leaders has stalled,” Gouker said. “FanDuel and DraftKings have built so much brand recognition and marketing might that they still hold advantages over a brand as well-known as Barstool partnering with a Pennsylvania-based company.”

Online casinos and poker

Online casinos and poker rooms hit a fresh high in March with $97.7 million in taxable revenue, shattering the record $80.4 million set in January. Online casinos generated a per day revenue record, too, producing $3.2 million in revenue per day for the 31 days in March, which was up from the previous high of $2.8 million per day over the 28 days in February.

Year-over year, revenue is up 292.4% from $24.9 million from March 2020, a month that marks the beginning of a year-long surge that continues today. Online casino wagering has grown 275% to $3.3 billion from $871.6 million in March 2020.

“The year-over-year gains in revenue are staggering,” Cross said. “The pandemic-related shutdowns of the state’s retail casinos changed bettor behavior for the foreseeable future. This is evident as online casino gaming keeps setting records, even as brick-and-mortar restrictions are eased.”

Highlights from March:

March’s revenue yielded $22.6 million in state taxes and another $13.3 million in local share assessments and county grants.
Penn National, which includes the DraftKings, BetMGM, and Hollywood casinos, led the market with $33.6 million in revenue on $.11 billion in wagers. Rivers-Philadelphia, which includes PlaySugarHouse and BetRivers casinos, was second with $27.1 million in revenue on $668.2 million in wagers.
Mount Airy/PokerStars, the lone poker operator in the state, generated poker revenue of $2.4 million.

For more information on the revenue generated by Pennsylvania, visit www.playpennsylvania.com/revenue.

About the PlayUSA.com Network:

The PlayUSA.com Network is a leading source for news, analysis, and research related to the market for regulated online gaming in the United States. With a presence in over a dozen states, PlayUSA.com and its state-focused branches produce daily original reporting, publish in-depth research, and offer player advocacy tools related to the advancement of safe, licensed, and legal online gaming options for consumers. Based in Las Vegas, the PlayUSA Network is independently owned and operated, with no affiliations to any casino — commercial, tribal, online, or otherwise.

Bragg Gaming Group

Bragg Gaming Group Reports Record Fourth Quarter and Full Year 2025 Revenues

Published

1 day ago

March 24, 2026

GamingAmericas.com

bragg-gaming-group-reports-record-fourth-quarter-and-full-year-2025-revenues

Bragg Gaming Group has announced its financial results for the fourth quarter of 2025.

Fourth Quarter 2025 Financial Highlights:

• Revenue Growth: Record total quarterly revenue of €27.7 million in the fourth quarter:

• Revenue increase of 5.1% (excluding The Netherlands) compared to the prior year period in 2024;

• The Netherlands revenue decreased 4.6% year-over-year due to the market’s overall contraction caused by increased regulation and higher taxes;

• Brazil revenue increased 42.1% compared to the 2024 fourth quarter with continued growth in provider onboarding; and

• US recurring revenue grew 55.0% year-over-year, driven by expanded high-margin proprietary content footprint; and

• Including the impact of The Netherlands, total revenue grew 1.9% year-over-year.

• Operating Loss, Net Loss and Adjusted EBITDA: Operating loss for the quarter was €0.1 million, a €0.6 million improvement from an operating loss of €0.7 million in the same period of 2024. Net loss for the quarter was €1.3 million, or €0.05 per common share, compared to €0.7 million, or €0.03 per common share, in the same period of 2024. Adjusted EBITDA for the 2025 fourth quarter was €4.6 million (representing an Adjusted EBITDA Margin of 16.5%), compared to €4.7 million (representing an Adjusted EBITDA Margin of 17.2%) in Q4-2024.

• Strategic Market Expansion in the US and Brazil: Expanded U.S. content footprint through the launch of its exclusive and bespoke online casino content with Caesars Entertainment in West Virginia. Bragg also launched exclusive and aggregated content with several valued clients operating in Brazil (and other key LatAm jurisdictions), including Brazino777, Blaze, and Super Technologies.

Full Year 2025 Financial Highlights:

• Revenue Growth: Record total annual revenue of €106.1 million in 2025, an increase of 4.0% compared to €102.0 in the year ended December 31, 2024.

• Operating Loss, Net Loss and Adjusted EBITDA: Operating loss for 2025 was €5.3 million, compared to €3.5 million in 2024. Net loss for 2025 was €8.1 million, or €0.32 per common share, compared to €5.1 million, or €0.21 per common share, in 2024. Full year 2025 Adjusted EBITDA was €16.6 million (representing an Adjusted EBITDA Margin of 15.6%), compared to €15.8 million (representing an Adjusted EBITDA Margin of 15.5%) in 2024.

• Balance Sheet Strength: During the year ended December 31, 2025, the Company fully repaid a US$7.0 million secured promissory note and entered into a financing agreement with a Tier One Canadian financial institution for certain revolving credit facilities in a maximum aggregate amount of up to US$6.0 million, replacing its prior debt at less than half the borrowing cost. During the second half of the year, the Company drew C$4.5 million in principal and US$1.1 million in overdraft in respect of Term CORRA loans. Cash and cash equivalents as of December 31, 2025 amounted to €6.7 million.

Fourth Quarter 2025 and Recent Business Highlights:

• Bolstered Leadership Team: Appointed Morten Tonnesen as its new Chief Operating Officer and promoted Garrick Morris to the position of Executive Vice President of Global Content, US & Canada.

• Player Account Management (PAM) Expansion in Europe: Announced the extension of its existing PAM platform agreement with valued client 711.nl to include the regulated Belgian iGaming market, with potential for future Bragg-powered online casino launches in additional regulated or newly regulating iGaming markets. Also, extended its existing PAM agreement with Entain Plc (LSE: ENTL), one of the world’s largest sports betting and gaming groups for BetCity.nl, a leading Dutch market operator, and with Senator Group, an online casino market leader in Croatia.

• Finnish Market Liberalization Preparations: Signed a comprehensive PAM platform and turnkey solution agreement with SuomiVeto, a market entrant led by the successful founders of BetCity.nl, focused on positioning SuomiVeto as a leading operator, and Bragg as a leading supplier, in the newly regulated Finnish iGaming market when it launches. The market is scheduled to “go live” for private operators on July 1, 2027.

• Ambitious Artificial Intelligence (AI) Transformation Plan: Leapt into an “AI-First” future by initiating the development of the Bragg AI Brain, a data-driven artificial intelligence engine designed to power smarter decisions and intelligent products across the Bragg’s Ecosystem. The transformation plan is underpinned by clear 2027 targets, including ensuring an AI-Enhanced Product becomes standard in over 90% of all launches and having more than three-quarters of Bragg’s operational workflows impacted by AI.

• Strategic Restructuring to Reduce Cost Structure and Improve Operating Performance: Announced a strategic restructuring, including an approximately 12% reduction of global workforce, designed to realign the organization and thereby improve its overall cost structure, drive its EBITDA growth, and shorten the time required for it to achieve sustained net profitability. The Company expects to incur restructuring costs related to this action of approximately €1.0 million associated with personnel-related termination costs in the first quarter of 2026, and it anticipates annualized cash savings from its staff reductions and other restructuring efforts to be approximately €4.5 million. This amount does not include the expected positive impact of the Company’s initiative to the Bragg AI Brain to drive cost efficiencies and improve operational excellence.

• Greater Board of Directors Alignment with Shareholders: From January 1, 2026, fees are being paid to directors exclusively in deferred share units (DSUs) on a monthly basis (with no cash alternative).

Matevž Mazij, Chief Executive Officer at Bragg, said: “We continued to execute well, delivering record revenues, strategic expansion and important AI and restructuring initiatives. We believe this positions Bragg well for 2026 and beyond to: increase our overall content market share in Brazil and the United States; pursue emerging alternative markets, such as Historical and Live Racing and Prediction Markets; move into new jurisdictions that offer opportunities for higher margin content business; deliver enhanced operational leverage; meet our goals to streamline internal processes; enhance overall efficiency across our organization; protect our cash runway; and advance us further along the path toward EBITDA growth and net profitability.”

Board Changes

The Company also announced the appointment of Thomas Winter to its Board of Directors. Mr. Winter succeeds Kent Young, who has retired from the Board. Both changes to the Bragg Board are effective immediately.

Mr. Winter brings deep knowledge of and experience in the iGaming and wagering industry. Currently a Board Member of Rush Street Interactive, which through its brands, BetRivers, PlaySugarHouse and RushBet, was an early entrant in several regulated jurisdictions, Mr. Winter began his career in the gaming sector nearly two decades ago and has since established himself as a leader in the field. In 2013, he founded Golden Nugget Online Gaming (GNOG), where he served as President. Under his leadership, GNOG became a top online gaming operator in New Jersey, achieving significant market share and recognition, went public and was later successfully sold for over $1.5 billion to DraftKings, where he developed their multi-brand online casino strategy and led their online casino business until September 2023. Before founding GNOG, he was the CEO and director of Betclic, a major European online sports betting and gaming operator, and Expekt, a pioneer brand in the online gaming industry, within the Betclic Group. Mr. Winter played a key role as COO at both businesses before being appointed CEO.

“I would like to thank Kent for his many contributions to the Company. I am also very pleased to welcome Thomas to our team. Moving forward, the Board and management team will be steadfast in our aim to close the clear and persistent gap between the Company’s public market valuation and our assessment of its intrinsic value. To that end, as Thomas is a gaming industry luminary who has earned my deep personal admiration and great professional respect, I am confident that he will be a tremendous asset to our Board and to our shareholders,” said Holly Gagnon, Chair of the Bragg Board.

2026 Outlook

The Company anticipates full year 2026 revenue between €97.0 million and €104.5 million and Adjusted EBITDA of €16.0 million to €19.0 million (representing an Adjusted EBITDA Margin of 16.0% to 18.0%).

The post Bragg Gaming Group Reports Record Fourth Quarter and Full Year 2025 Revenues appeared first on Americas iGaming & Sports Betting News.

Alberta

Media Troopers Prepares for Alberta iGaming Launch with Canadian Gaming Law Firm

Published

1 day ago

March 24, 2026

Wladimir P.

media-troopers-prepares-for-alberta-igaming-launch-with-canadian-gaming-law-firm

Media Troopers is positioning itself for entry into Alberta’s soon-to-launch regulated online gambling market through a strategic partnership with Canadian law firm Segev LLP.

The collaboration will see the affiliate marketing and customer acquisition specialist work closely with legal experts Ron Segev and Alon Segev to navigate the province’s evolving regulatory framework. The firm will advise on compliance, licensing readiness, and market entry strategy as Alberta finalises its iGaming model.

Alberta is set to become only the second Canadian province to regulate commercial online gambling, following the launch of Ontario’s market in 2022. The province took a major step forward with the passage of the iGaming Alberta Bill, which establishes a legal framework for private operators and introduces the Alberta iGaming Corporation to oversee the sector.

This regulatory shift is expected to open significant opportunities for operators and service providers alike, particularly as Canada’s iGaming landscape continues to expand. Industry observers often point to Ontario’s rollout as a benchmark, with oversight from bodies such as the Alcohol and Gaming Commission of Ontario, which has helped shape standards around licensing, compliance, and player protection.

As part of its expansion strategy, Media Troopers aims to support licensed operators entering Alberta with localized marketing solutions, including affiliate partnerships and compliance-led acquisition strategies tailored to the province’s regulatory requirements.

Commenting on the development, Shmulik Segal, CEO of Media Troopers, said:

“Alberta represents one of the most exciting emerging regulated markets in North America.

“Working with Ron Segev and the team at Segev LLP ensures that our expansion into the province will be aligned with the evolving regulatory framework and positioned for long-term success.”

Segal added:

“Canada’s iGaming market continues to evolve rapidly. Our goal is to be fully prepared to support operators entering Alberta from day one.”

The move highlights a broader trend in North America, where affiliate and marketing firms are increasingly aligning with legal and regulatory specialists ahead of market openings. This approach not only reduces compliance risk but also allows companies to establish early positioning in newly regulated jurisdictions.

For more on Canada’s evolving iGaming landscape, see Europa Gaming’s coverage of Ontario iGaming Market Launch and North America Gambling Regulation.

With Alberta’s framework nearing completion, early movers like Media Troopers are aiming to replicate the success seen in Ontario—where strong compliance foundations and localised strategies have proven critical to long-term growth.

The post Media Troopers Prepares for Alberta iGaming Launch with Canadian Gaming Law Firm appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Alberta

Media Troopers Prepares for Alberta iGaming Launch with Canadian Gaming Law Firm

Published

1 day ago

March 24, 2026

GamingAmericas.com

The leading digital marketing and customer acquisition group Media Troopers has announced it’s gearing up to join Alberta’s upcoming iGaming-regulated market by partnering with Alon Segev, Managing Partner and Ron Segev, founder of Canadian gaming and betting law firm Segev LLP.

Alberta will become Canada’s second province to regulate commercial online gambling, following Ontario in 2022. The province passed the iGaming Alberta Bill last May, which brought with it a framework to allow operators to enter the province and the creation of a new iGaming regulator, the Alberta iGaming Corporation.

As part of Media Troopers’ strategic entry into the new sector, it has partnered with Segev, who will advise the company on regulatory strategy, compliance requirements, and market readiness as Alberta finalizes its operational and licensing framework.

“Alberta represents one of the most exciting emerging regulated markets in North America,” said Shmulik Segal, CEO of Media Troopers.

“Working with Ron Segev and the team at Segev LLP ensures that our expansion into the province will be aligned with the evolving regulatory framework and positioned for long-term success.”

As with Ontario’s competitive market, Media Troopers is dedicated to supporting licensed operators in Alberta with localized marketing channels, affiliate partnerships, and compliance-structured acquisition strategies.

“Canada’s iGaming market continues to evolve rapidly,” Segal added. “Our goal is to be fully prepared to support operators entering Alberta from day one.”

The post Media Troopers Prepares for Alberta iGaming Launch with Canadian Gaming Law Firm appeared first on Americas iGaming & Sports Betting News.