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PlayIA.com: Sportsbooks set new highs for revenue, wagering in November

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Iowa sportsbooks set records for wagering and revenue, generating nearly $20 million in revenue on nearly $290 million in bets in November. After another high, Iowa is now a strong December away from reaching $2 billion in betting for the year, according to PlayIA, a leading source for news and analysis of the Iowa gaming market.

“The expansion in betting in Iowa over the last three months has set a new floor for the industry,” said Eric Ramsey, an analyst for the PlayUSA.com Network, which includes PlayIA.com. “Operators have used the popularity of football to not only attract new customers, but also to expose existing bettors to more diverse forms of betting. The growth this fall will benefit state sportsbooks for the months and years to come.” 

Iowa’s online and retail sportsbooks generated $287.2 million in wagers in November, up 229.5% from $87.2 million in November 2020, according to official data released Friday afternoon. November’s handle was up 2.3% from the record $280.9 million wagered in October, a month boosted by five weekends of football. Bettors averaged $9.6 million per day during the 30 days of the month, topping October’s $9.1 million per day.

Revenue rose 142.5% to $19.7 million in November from $8.1 million in November 2020 and 201.2% from $6.6 million in October. The previous record was $13.5 million, set in March. November’s gains yielded a record $2.1 million in tax revenue for the state.

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The last three months represent the three highest monthly handles in state history. Through the first 11 months of this year, Iowa sportsbooks have generated:

  • $1.8 billion in wagering, including $778.6 million over the last three months.
  • $101.1 million in revenue, including $32.0 million over the last three months.
  • $7.8 million in taxes, including $3.1 million over the last three months.

“The removal of in-person registration requirements for online sportsbooks at the beginning of the year was obviously a watershed moment for the state,” said Russ Mitchell, lead analyst for PlayIA.com. “But the growth of the last three months has been on another level.”

$260.4 million, or 90.6%, of November’s bets were made online, producing $16.8 million in revenue. Meanwhile, retail betting generated $26.9 million in wagers, creating $2.9 million in net receipts.

Caesars once again topped the online market with $104.0 million in wagers, yielding $4.7 million in revenue. DraftKings was second with $75.1 million in online wagering, producing $4.2 million in net receipts. Barstool Sports, which launched on Nov. 2, generated $770,576 in revenue on $9.7 million in bets.

Diamond Jo Worth led the retail market with $6.7 in bets, yielding $2.3 million in revenue. Ameristar Council Bluffs was second with $5.6 million in wagers, which led to $1.8 million in net receipts.

Football has been the main driver of growth for the last three months. But the NBA continues to be a popular bet, and the opening of the college basketball season in November helped boost sportsbooks.

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“Football is driving record growth this fall, not just in Iowa but all over the country,” Mitchell said. “But with four Division I basketball programs, Iowa’s sportsbooks have an opportunity to grow some more this winter, especially if Iowa and Iowa State continue to play well.”

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BetConstruct Becomes the First iGaming Company to Offer Both B2B and B2C Licenses in Canada through Affiliate Entity

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BetConstruct, a global pioneer in iGaming and sports betting solutions, has announced a significant milestone in the gaming industry. Through its affiliate entity, BetConstruct has become the first iGaming company authorized to facilitate the issuance of both Business-to-Business (B2B) and Business-to-Consumer (B2C) licenses. This remarkable achievement was made possible by obtaining a direct license authorization from the Tobique First Nation in Canada.

The Tobique First Nation, renowned for its innovative and forward-thinking regulatory approach, has entrusted BetConstruct’s affiliate entity with the authority to oversee applications and facilitate the issuance of licenses from its jurisdiction. This partnership underscores shared values of innovation, transparency, and a commitment to responsible gaming practices.

This historic development places BetConstruct at the forefront of the Canadian iGaming market, redefining the opportunities available to gaming operators. By leveraging its affiliate entity’s licensing capabilities, BetConstruct empowers businesses to navigate a streamlined and transparent regulatory environment, unlocking new opportunities for growth and innovation.

“At BetConstruct, we’ve always strived to push the boundaries of what’s possible in iGaming. This landmark achievement with the Tobique First Nation reflects our unwavering dedication to creating opportunities for our partners while upholding the highest standards of responsibility and integrity in gaming,” said Vigen Badalyan, Co-Founder of BetConstruct.

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The issuance of dual licenses under the watchful eye of BetConstruct’s affiliate not only highlights BetConstruct’s commitment to supporting its partners but also reinforces the company’s role as a trusted leader in the global iGaming landscape.

This milestone signals a new era for regulated iGaming, as BetConstruct takes bold steps to establish a robust ecosystem for operators and consumers alike. With its direct license authorization from the Tobique First Nation, BetConstruct is setting a new standard for innovation, consumer protection, and sustainable growth in Canada and beyond.

The post BetConstruct Becomes the First iGaming Company to Offer Both B2B and B2C Licenses in Canada through Affiliate Entity appeared first on Gaming and Gambling Industry in the Americas.

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Great Canadian Entertainment and Petroglyph Development Group Announce Closing of the Acquisition of Casino Nanaimo and Elements Casino Victoria

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Great Canadian Entertainment and Petroglyph Development Group Ltd. announced that PDG has closed the previously announced acquisitions of Casino Nanaimo and Elements Casino Victoria from Great Canadian, in historic transactions for both parties. PDG is a wholly owned corporation of Snuneymuxw First Nation (the “Nation”) and is dedicated to realizing the economic potential of the Nation.

The transactions, originally announced on June 24, 2024, for Casino Nanaimo and September 10, 2024, for Elements Casino Victoria, have received all required approvals from the regulatory authorities.

“We are thrilled to have completed these transactions. An incredible amount of work has been undertaken by our corporate team, our on-site teams at both properties, and PDG to achieve this successful closing. I am grateful for their efforts, as well as everyone at the B.C. Lottery Corporation and the Gaming Policy Enforcement Branch, who were thoughtful, diligent, and thorough in facilitating these closings,” said Matt Anfinson, Chief Executive Officer of Great Canadian.

“We look forward to working closely with PDG during the transition period to support the continued successful operation of Casino Nanaimo and Elements Casino Victoria,” Anfinson added.

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“We celebrate the closing of our two casino acquisitions and our continued progress toward building a strong Snuneymuxw economy. For decades, Snuneymuxw leadership has worked tirelessly toward this moment, recognizing the connection between a strong economy, self-determination, and the foundation of nationhood. Today, we honour the achievements of those who came before us by securing businesses that will strengthen our Nation for generations to come. Thank you to the PDG and Great Canadian teams for your exceptional work. We look forward to a rewarding partnership with the B.C. Lottery Corporation, driving economic growth for the Nation and Province,” said Chief Mike Wyse.

Erralyn Joseph, President of PDG, said: “This measured acquisition marks an important milestone for PDG as we continue growing a corporate enterprise that reinvests directly into the prosperity of our Nation. With a strong operating plan focused on risk mitigation and yielding sizable returns, PDG continues to generate sustainable wealth for Snuneymuxw. With every step we are realizing our socio-economic potential and influence at a local, national, and global level. On behalf of the Board of Directors, we are pleased to share this news and remain committed to advancing economic growth in support of all residents connected to Snuneymuxw territory.”

“Acquiring these assets marks a pivotal shift for Snuneymuxw and Vancouver Island. This transition will fuel the Island’s economy, strengthening the Snuneymuxw Nation and ensuring the benefits stay local,” said Ian Simpson, Chief Executive Officer of PDG.

The post Great Canadian Entertainment and Petroglyph Development Group Announce Closing of the Acquisition of Casino Nanaimo and Elements Casino Victoria appeared first on Gaming and Gambling Industry in the Americas.

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Ottawa Black Bears Announce Partnership Deal with PowerPlay

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The Ottawa Black Bears announced an extensive partnership agreement with PowerPlay Online Sportsbook and Casino that will see the company’s logo featured on the club’s home and away jerseys.

In addition to the jersey partnership, PowerPlay will also have branding elements inside the goal crease, behind the bench, on the LED display ring, and along the rinkboards for Black Bears home games at Canadian Tire Centre. As part of the deal, PowerPlay also becomes the exclusive sportsbook and online casino partner for the Ottawa Black Bears.

“We are thrilled to have PowerPlay on board for our inaugural season with such a comprehensive partnership agreement. Their investment with the Black Bears represents a foundational agreement for our lacrosse club. And we’re proud to wear their logo alongside ours as we launch our franchise,” said Chelsea McDermott, Vice President of Business Operations for the Ottawa Black Bears.

“We are excited to bring PowerPlay’s bold, community-driven spirit to Ottawa-Gatineau, partnering with the Black Bears as they establish themselves as a force in lacrosse. This partnership celebrates a sport deeply tied to Canada’s heritage and competitive energy. Together, we’ll ignite passion, energize fans, and deliver excitement all season long,” said Thomas Vermeulen, Marketing Director for PowerPlay.

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The post Ottawa Black Bears Announce Partnership Deal with PowerPlay appeared first on Gaming and Gambling Industry in the Americas.

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