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IOWA SPORTS BETTING FLAT WITH $111 MILLION IN JUNE
Iowa’s pace of sports wagering dropped for the third consecutive month in June, even as revenue jumped and the pace of betting per day held firm. The mostly positive month closed the book on a fiscal year that brought dramatic growth and more than $1.2 billion in wagers in spite of a pandemic and in-person registration requirements that slowed betting for much of 2020, according to analysts from PlayIA.
“The year brought significant challenges to Iowa’s sportsbooks, which made the results all the more impressive,” said Jessica Welman, analyst for the PlayUSA.com Network, which includes PlayIA.com. “The best news is that with the pandemic’s effects on the industry waning, and online registration firmly in place, the last year is only a glimpse of Iowa’s true potential.”
Iowa’s online and retail sportsbooks accepted $111.2 million in June, according to official data released late Thursday. That is down 3.2% from $114.9 million in May. The pace of betting remained $3.7 million per day over the 30 days of June, matching the $3.7 million per day over the 31 days in May.
Net operator revenue rose to $8.4 million in June, up 37.4% from $6.1 million in May. June’s handle resulted in $568,501 in tax revenue.
June’s results closed the book on fiscal year 2020-21, a pandemic-marred year that still brought impressive growth. In June 2020, Iowa’s sportsbooks took in $12.7 million in bets, producing $620,740 in revenue as the pandemic continued to wreak havoc on the U.S. sports schedule. For the entire year, online and retail sports betting accounted for:
- $1.2 billion in wagering
- $90.0 million in gross gaming revenue
- $6.1 million in tax revenue
“With a lighter sports schedule and few local betting events to spur interest, Iowa won’t see significant growth in betting again until the football season,” said Dustin Gouker, analyst for the PlayUSA.com Network, which includes PlayIA.com. “But there is no question that the Hawkeye State is in good position, poised for a fall expansion when Iowa, Iowa State, and the NFL once again draw bettors to sportsbooks.”
In June, $95.1 million in bets were made online, representing 85.6% of the state’s handle. Retail betting accounted for the remaining $16.0 million, up from $15.0 million in May.
William Hill’s sportsbooks accounted for 33.0% of Iowa’s handle in June with $36.65 million in total wagers, even as the operator’s handle ticked down from $37.6 million in May. $34.0 million of June’s wagers were made online. All told, June’s bets produced $1.8 million in net receipts.
Wild Rose, which includes DraftKings and BetRivers, tallied $31.5 million in online and retail wagering, which resulted in $2.5 million in revenue. June’s handle was down from $33.8 million in May and included $31.4 million in online bets.
Diamond Jo, fueled by FanDuel and BetMGM, took in $26.6 million in combined wagers, down from $27.6 million in May. $22.6 million of June’s wagering came online. That was enough to net a market-best $2.6 million in revenue.
Iowa’s menu of online operators is growing, too. Bally Bet went live in late June, the second market the upstart operator has launched in. Meanwhile, a partnership between 888 Holdings and Sports Illustrated promises to bring the new SI Sportsbook to Iowa eventually, and PlayUp Sportsbook confirmed plans to enter the market later this year.
“Iowa is far from reaching its ceiling as a market,” Welman said. “New operators clearly still see untapped potential in the state, and that speaks positively to where the market is heading.”
For more information and analysis on regulated sports betting in Iowa, visit PlayIA.com/news.
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 and its state-focused branches, including PlayIA.com, 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.
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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.
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
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.
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