Month: June 2021

Total gaming revenue for May came to $1.23bn, according to the latest figures from the Nevada Gaming Control Board. 

As well as rising from the prior month, that figure also marks a vast improvement on May 2020’s $5.8m total, from a time when casinos were shuttered by the novel coronavirus (Covid-19) pandemic.

Clark County, which includes Las Vegas, made up the majority – some $1.05bn, up 21.6% – of Nevada’s revenue for the month. The Las Vegas Strip accounted for $655.5m, or 62.3%, of the total. 

May 2021’s revenue came predominantly from slot machines, which accounted for $840.9m of the total, a 6.5% increase from April. 

Table, counter and card games, meanwhile, saw revenue shoot up 59.1% from the prior month to $389.2m, benefitting from increased casino capacity and more spaces at gaming tables. 

This growth was largely down to baccarat, which saw revenue grow from $29.4m in April to $108.4m, while roulette revenue grew 41.1% to $99.0m. 

Sports betting, included within that segment, saw revenue rise only marginally to $27.1m, however. Based on a win percentage of 5.67%, this suggests $477.6m in handle for the month. 

Of that revenue total, $13.3m was generated via mobile devices, down 25.5% sequentially, and based on a 4.46% win percentage, stakes totalled $297.9m. Basketball, as in April, was the most lucrative sport in terms of revenue, but declined to $11.4m.

With all properties permitted to return to full capacity from 1 June – and a number of other operators including MGM Resorts, Caesars Entertainment and Wynn Resorts cleared to ease restrictions earlier in May – there is scope for further growth going forward. 

The drop in the number of Covid positive tests in the Netherlands (and the consequent reduction in the number of patients requiring hospital treatment) coupled with the speed of the country’s Covid-19 vaccination programme have prompted a significant relaxation of the rules relating to the staging of indoor events.

Naomi Barton, Portfolio Director responsible for iGB Live! said: “We have been in close contact with the senior team at the RAI, who in turn have been liaising closely with the Dutch authorities. The positive news for the events sector and for our two co-located shows is that the government has sanctioned the use of a coronavirus entry pass system. This means that events can return to normal with no social distancing, no face covering requirements and no limits on attendance beyond the normal capacity.

“The pass works using the CoronaCheck app which demonstrates if a visitor has either tested negatively, been fully vaccinated against, or has recovered from Covid-19. In a parallel development, the hospitality sector, including restaurants, pubs and other catering outlets, has also fully reopened.

“Developments in the Netherlands are extremely positive and will be welcomed by everyone who is planning to participate in iGB Live! and iGB Affiliate Amsterdam later in the autumn. A sentiment survey carried out in May showed that more than 70% of our customers were planning to travel to Amsterdam. I’m certain that number will now rise on hearing this latest news.

“The team is working flat out to make 2021 a memorable event with brand new show features and content including the iGB SLOTS activation, the iGB eSports Streamer Cube and the MATCH!/VIP Programme. The announcement made by the Dutch government has ensured that 2021 will offer truly landmark editions of iGB Live! and iGB Affiliate Amsterdam.”

The relaxation of the rules also extends to travel to and from the Netherlands with the EU Digital COVID Certificate going live as of 1 July. The certificate provides proof that a person has been either vaccinated against, tested negative for, or recovered from Covid-19. Other initiatives implemented or being developed elsewhere in the world can be linked to the certificate, which facilitates safe and free movement within the EU.

To register for iGB Live! and iGB Affiliate Amsterdam visit: www.igblive.com

Gamesys announced in a statement that the court meeting to consider the scheme and the Gamesys general meeting to consider the special resolution relating to the combination — details of which were agreed by both boards in April — were each held today (30 June) and both were approved by the requisite majorities.

Some 92.4% of those who voted in the court meeting were in favour, with 99.1% of the general meeting backing the special resolution.

The expected timetable of the combination remains the same and is likely to be completed in the fourth quarter of this year. The scheme remains subject to the sanction by the court at the court hearing as well as other conditions being met.

In April, the boards of both groups agreed to a deal that would see Bally’s acquire Gamesys’ issued and outstanding share capital via Premier Entertainment, its wholly owned subsidiary.

Bally’s said at the time it believes the deal would allow it to significantly increase its market share of the expanding US betting and igaming market, which analysts suggests could be worth up to $45bn at maturity.

“We believe that this combination will mark a transformational step in our journey to become a leading integrated, omni-channel gaming company with a B2B2C business,” Bally’s chairman Soo Kim said in April.

“We think that Gamesys’ proven technology platform alongside its highly respected and experienced management team, combined with the US market access that Bally’s provides, should allow the combined group to capitalise on the significant growth opportunities in the US sports betting and online markets.”

Gamesys chief executive Lee Fenton is to become group chief executive, while Gamesys chief operating officer Robeson Reeves and non-executive director Jim Ryan will join the Bally’s board. Current CEO George Papanier will remain in charge of the brick-and-mortar business, and retain his seat on the board.

Gamesys’ existing platform would benefit from market access to key states via Bally’s brick-and-mortar estate. Bally’s, meanwhile, would benefit from Gamesys’ proven technology platform, expertise and highly-respected management team, the businesses’ boards said.

As a result, there is not expected to be any sort of material change in Gamesys’ overall headcount, employment conditions or core duties. However, as a result of the business being de-listed from the London Stock Exchange, certain support functions in its head office may not be required going forward, Bally’s noted in April.

The combination will see Bally’s, via Premier Entertainment, pay 1,850 pence per Gamesys share. This represents a 14.4% premium on the Jackpotjoy operator’s closing share price of 1,642 pence per share on 23 March, the final day before an announcement on talks were made.

It also represents a 41.2% premium on Gamesys’ closing share price of 1,330 pence on 25 January, the day before Bally’s made its initial proposal. For Gamesys’ three-month average closing price to 23 March, of 1,373 pence per share, it represents a 36.7% premium.

As outlined in the initial terms, Gamesys shareholders will also have the option to swap each share for 0.343 Bally’s Corporation shares. Its electing directors and shareholders have opted to take up this option for all of their stakes, with the exception of finance director Michael Mee, who will exchange his holding for a combination of cash and shares.

This accounts for 25.6% of Gamesys’ issued ordinary share capital at the close of business.

If these shareholders are the only ones to take up the share exchange offer, the maximum cash consideration to be paid by Bally’s would be £1.6bn.

XB Net’s coverage spans 60 racetracks across North America, around which Sisal will be able to fill its programming timetable using “rapid-cycling betting opportunities”.

The deal marks a continuation of XB Net’s global expansion, having signed a similar deal with Betfred last year.

Simon Fraser, senior vice president of international at XB Net, said: “Sisal is a giant brand whose expertise and trademark customer care is best in class. Therefore, it’s a perfect moment to partner with their optimised Italian sportsbook, which has quickly embraced the merits and utility of North American racing.

“Wherever you set your scene in the world, delivering the right content at peak leisure times remains paramount during a new era of variability for any sportsbook tab. XB Net’s wide range of low-latency racing solutions and racetracks are now ensuring the requisite elasticity for Sisal.”

Sisal’s managing director of betting Massimo Temperelli added: “During recent lockdowns, our customers soon came to appreciate the fresh excitement and value that US racing brings to their betting experience, providing a trustworthy and regular flow of quick-fire betting opportunities which hit the mark, whether they’re interested in watching one race or the entire card.

“Since Italy’s daily domestic racing is primed to transition neatly into high-quality evening meetings stateside, top-class 24/7 programming is now the new normal for our players, thanks to this developing collaboration with XB Net and their expertise in wagering solutions. We can’t wait to see how these progressive products continue to perform over the forthcoming highlights, like the Breeders’ Cup World Championships.”

Earlier this month, Sisal partnered with telecommunications giant BT as part of its bid for the fourth UK National Lottery licence.

With the last month of the fiscal year still to be reported, sales have already surpassed the $1.20bn recorded in the full fiscal year 2020.

FY21’s sales figures are 35.3%, or $379.4m ahead of the same period in FY2020, and $284.0m or 24.3% ahead of the operator’s budget.

Scratch-off tickets continued to be the lottery’s biggest driver of increased sales, bringing in $880.6m by the end of the period. This puts scratch-off sales 34.1% ahead of the previous year-to-date.

Online instant play games brought in a further $105.5m, and total ilottery sales were up $84.4m from the same period last year. Instant play games are now the operator’s third largest product in terms of sales, after scratch-off games and Pick 3.

Read the full story on iGB North America.

Chalkline said OfficePoolsBets represented a natural progression for OfficePools.com, which has been active for over 25 years, as the gaming industry evolves in Canada and across North America.

The deal allows OfficePoolsBets.com to benefit from Chalkline’s free-to-play platform during the height of the NHL Playoffs, the NBA Playoffs, and the European soccer championships.

“This free-to-play partnership expands on our existing platform of engagement and educational tools, and Chalkline is the perfect partner to grow into a regulated sports betting environment with,” said Graham Lee, president and chief executive of OfficePools.com owner GSL Holdings.

Daniel Kustelski, chief executive of Chalkline, added: “Graham and the team at OfficePools.com are part of the fabric of what it means to be a sports fan in Canada.”

Read the full story on iGB North America.

The German Sports Betting Association (DSWV) said the “long overdue” regulation will create unattractive framework conditions for those who operate legally, so unlicensed operators must be rigorously sanctioned and deterred by the federal authorities.

While the legislation has been passed to promote safe and responsible gaming, DSWV is concerned that it could be beneficial to those companies that seek to operate outside the new rules and avoid heavy compliance costs.

“Now the authorities have to quickly issue permits and severely sanction those who continue to sell without a license,” said DSWV president Mathias Dahms.

“It cannot be that the legal providers are stupid. A market in which some unlicensed companies continue to operate undisturbed harms the political goals of the country and must be prevented by all means. We are calling for more activity on the part of the state supervisory authorities.”

Dahms’ warning came after DSWV – which represents operators who make up around 90% of the betting market – reported a mass migration of players to unlicensed sites after operators within Germany were given a transitional period from October 2020 to comply with new regulations.

While the DSWV is supportive of regulation and an end to monopoly and prohibition policies, it is opposed to many of the GlüNeuRStV regulations. Some of the most controversial include a €1,000 monthly spending cap, a €1 per spin cap on slot games and a 5.3% tax rate on slots and poker turnover. DSWV has lobbied for a gross revenue tax of between 15% and 20%.

Dahms added: “Today Germany is finally taking the step that the rest of the EU took a long time ago. However, the State Treaty on Gambling must be further developed in order to eliminate the remaining problems: the artificially limited product selection, cross-provider limits and the excessive taxation must be corrected.

“The licensed companies have a government mandate. You [operators] and the DSWV stand for transparent and reliable gambling, they advocate consumer protection, the prevention of gambling addiction and the protection of minors. The German Sports Betting Association is fully behind the goals of the new State Treaty.”

The launch of the compliance period last October came after an eight-year process to award the country’s first sports betting licences, under the third amended GlüNeuRStV, with 15 brands licensed.

The GlüNeuRStV, which legalises online poker and slots for all eligible operators, and provides for a more limited range of table games, was first approved as far back as March 2020 by Germany’s heads of state. It was then notified to the European Commission in May, before being ratified by Minister-Presidents in the 16 states in November.

Under the Treaty, the state is to host a new federal regulatory authority for gambling, that is likely to take two years to be fully operational.

The deal will see Bally’s become the official sports betting partner for Phoenix Mercury for the next 15 years, beginning on 1 July 2021. Once the deal begins, Bally’s will have market access in Arizona, its 15^th approved state.

The deal will also allow Bally’s to establish and host an online and mobile sportsbook in Arizona and promote its association with Phoenix Mercury, upon Phoenix Mercury’s receipt of a sports betting license from the Arizona Department of Gaming.

Read the full story on iGB North America.

With the last month of the fiscal year still to be reported, sales have already surpassed the $1.20bn recorded in the full fiscal year 2020.

FY21’s sales figures are 35.3%, or $379.4m ahead of the same period in FY2020, and $284.0m or 24.3% ahead of the operator’s budget.

Scratch-off tickets continued to be the lottery’s biggest driver of increased sales, bringing in $880.6m by the end of the period. This puts scratch-off sales 34.1% ahead of the previous year-to-date.

Read the full article on iGB North America.

Mississippi’s land-based casinos and sportsbooks were closed for almost all of May last year due to state-wide novel coronavirus (Covid-19) restrictions and did not resume operations until May 21.

As in-person sports betting is the only legal form of wagering in Mississippi, revenue in May 2020 only included activity from the final 10 days of the month when sportsbooks were able to reopen.

Retail sportsbooks were able to operate throughout May this year, explaining the significant year-on-year rise in revenue and handle.

However, on a month-on-month basis, revenue was 9.3% lower than the $4.3m recorded in April of this year.

Read the full story on iGB North America.