The appointment comes after Brad Desmarais announced his retirement from the role last month, with Beebe moving into the position on a temporary basis from November 1.
Beebe, who was previously director of lottery strategic development at the BCLC, will serve as interim COO while a permanent replacement for Desmarais is sought.
“Beebe brings extensive industry experience, including previous leadership roles in digital services, eLottery and strategic business development,” the BCLC said.
This represented an 82% increase on the previous year.
Net win from sports betting amounted to AD$67.3m, up by 76% from the year prior. PointsBet’s overall net win was AD$69.5m after factoring in the AD$2.2m generated from igaming.
PointsBet Australia saw a 79% increase in active clients to 222,662 while the US division’s active players increased 367% to 185,880.
Turnover figures for the company were AD$979.9m, up 42% from last year. AD$631.4m came from the Australia side of the business, while AD$348.6m was derived from US business – a 112% increase on 2021.
For PointsBet Australia, net win from sports betting were AD$54.8m with a margin of 8.7% – a 56% and 2% increase respectively.
Regarding PointsBet USA, Illinois was the best performing state with sports betting turnover of AD$131.8m. New Jersey was next with Ad$102.1m, followed by Colorado with AD$38.5m. Michigan, where PointsBet launched in January, generated AD$32.0m.
2021 saw PointsBet launch its first igaming offerings in the US, debuting in Michigan and New Jersey. In addition to launching sports betting in West Virginia, the company also secured a market access deal for Texas with Major League Soccer team Austin FC.
PointsBet’s revenue, calculated from combining net win with B2B revenue, was AD$72.4m.
Expenses totaled AD$110.5m for the first quarter. Operating costs were AD$33.0m, advertising and marketing expenses came to AD$46.5m, staff costs were AD$19.3m, while administrative costs came to AD$11.7m.
Overall, the company posted operating losses of AD$25.6m for Q1 of 2022.
Last week, Ireland’s Minister of State for Law Reform, Youth Justice and Immigration, James Browne TD, introduced the new ’General Scheme of the Gambling Regulation’ bill with the main aim of setting up an independent gambling authority set up to oversee the country’s gambling activity and regulations.
Other parts of the bill included place new regulations and laws for the gambling sector, with a focus on player protection measures such as establishing a national self-exclusion register and not offering credit or loans to consumers.
While EGBA praised the move in general, it did say that it was concerned over plans to introduce a ban on free bets in Ireland. EGBA said that this could push consumers who frequently use free bets to gamble with sites that are not licensed in the country and are as such not subject to Irish regulations.
“We welcome the Irish government’s publication of the General Scheme of the Gambling Regulation Bill; this is an important milestone, and it provides companies, including our own members, with some certainty as to the direction of travel of the legislation,” EGBA secretary general Maarten Haijer said.
“The EGBA looks forward to engaging with Minister Browne and his team to share our experiences from other European jurisdictions.
“With Ireland one of the two remaining countries in Europe which has no dedicated regulation of online gambling, this is an important opportunity to shape an Irish online gambling market which is well-regulated, meets the consumers’ needs and expectations, and sets a high level of consumer protection.”
The bill will now be submitted for drafting to the country’s Office of Parliamentary Counsel and will also be referred to the Oireachtas Justice Committee for pre-legislative scrutiny.
The accompanying legislative process is expected to take at least 12 months to finalise.
Revenue for the three months to September 30 amounted to $393.0m, up 16.3% year-on-year from $337.8m in the corresponding period last year.
Gaming remained by far the main source of income for CDI, with revenue in this segment climbing 38.8% to $185.6m. CDI said this increase was due to relaxed novel coronavirus (Covid-19) restrictions at its facilities, with these measures having impacted its results in 2020.
Net revenue increased for all gaming properties, with the exception of the Riverwalk and Fair Grounds and VSI, with the latter two having been impacted by Hurricane Ida, which hit Louisiana in August. This led to the temporary closure of Fair Grounds Race Course & Slots and OTBs.
However, the government called upon gambling regulator Spelinspektionen to “evaluate” the measures that were put in place, as well as propose new measures to strengthen player protection.
“Turnover in the gaming market has increased and online gaming has probably benefited from changed consumption patterns since the reregulation,” said Ardalan Shekarabi, minister of social insurance.
“There is a risk that this has led to a long-term behavioral change with increased gambling. This is a development that should be followed up to see if there is a need for further measures.”
Spelinspektionen must submit a report evaluating the temporary measures by 15 March 2022, with the deadline for the remainder of the report stipulated for 31 October 2023.
The temporary restrictions first took effect in June 2020. They included an SEK5,000 deposit cap on online casino, along with an SEK100 limit on bonuses. At the time, they were set to last until the end of 2020.
The 14 November date was an extension put in place in May this year, after the date was previously extended to June 2021.
When he announced the second extension, Ardalan Shekarabi, Minister for social security, spoke of how the effects of the novel coronavirus (Covid-19) pandemic had caused financial worry for many Swedes.
“In the wake of the pandemic, we see continued risks in the field of gambling, which means that we need to act to reduce the risks for vulnerable consumers,” said Shekarabi in November 2020.
“The situation is very serious.”
The decision to introduce restrictions proved contentious. A consultation held on the matter saw concerns raised by many groups.
Spelinspektionen suggested that the restrictions would have only a “marginal effect” on player protection measures for operators, as well as arguing that the measures could benefit the black market.
Spelinspektionen also called the SEK5,000 deposit limit “relatively high”.
The multi-year deal will see Betway become an official partner and the preferred free-to-play gaming partner of the franchise.
Betway will also benefit from a branding presence on surfaces inside the team’s FTX Arena, including LED courtside and baseline apron signage.
“Following further growth in the US, we’re thrilled to be partnering with the Miami Heat,” Betway chief executive Anthony Werkman said. “Miami is a fantastic city where sport is a huge passion, and we look forward to sharing the thrill with fans of the three-time NBA championship winning side.”
Revenue for the three months through to 30 September was €276.0 (£232.7m/$320.5m), up 97.1% from €140.0m in the third quarter of last year.
Evolution said this increase was driven by a growing demand for online casino, with revenue from its live casino business hiking 53.2% year-on-year to €214.5m. This demand, Evolution said, led to a rise in commission income from existing and, to an extent, new customers.
The provider also drew €61.5m in revenue from its random number generator (RNG) games, as a result of its acquisition of NetEnt. Evolution did not report any income from RNG games in Q3 last year as the NetEnt deal did not go through until December 2020.
In terms of geographical performance, the ‘Rest of Europe’ region accounted for the largest portion of revenue with €103.2m, ahead of Asia on €76.7m and North America with €31.9m. Revenue in the Nordics amounted to €19.5m and UK revenue reached €19.1m, while other markets accounted for the remaining €25.6m.
Evolution also noted that its share of revenue from regulated markets increased from 32% in Q3 of 2020 to 38% this year.
“The third quarter this year has been another quarter of extremely high activity within Evolution,” Evolution chief executive Martin Carlesund said. “The expansion of our business at the current speed is simply put – hard work – and I want to start these comments by thanking everyone in Evolution for great work during this period, without your effort and commitment the achieved financial results would not be possible.
“The result for the third quarter 2021 has once again proven that our strategy to focus on the entertainment of the end-users and seamless and flawless experience is successful.”
Turning to expenses, operating costs were 84.6% higher at €104.1m and after including €2.5m in financial costs, this left a pre-tax profit of €169.5m, up 102.6% to €169.4m. The supplier also reported a 112.7% increase in earnings before interest, tax, depreciation and amortisation (EBITDA) to €192.9m.
Evolution paid €12.0m in tax during Q3, leaving a net profit of €157.4m, up 98.3% year-on-year.
“Our ambition is to continue to strengthen our leading position in the online casino market,” Carlesund said. “One of the corner stones which allows us to increase the gap to our competitors even further is through product innovation.”
Looking at Evolution’s year-to-date performance, revenue for the nine months through to the end of September was 100.4% higher at €768.5m.
Operating costs were up 77.4% to €299.1m, but the sharp increase in revenue meant pre-tax profit hiked 115.7%% to €433.9m and EBITDA was 123.6% up to €527.7m.
After paying €29.4m in tax, net profit for the period was €433.9m, an increase of 112.7% on last year.
Reflecting on this overall performance, Carlesund picked out a number highlights, including the opening of a new dedicated live online casino studio in New Jersey for Penn Interactive, the igaming subsidiary of Penn National Gaming.
Evolution also entered into a partnership with Betway, which will see its online live casino and first-person RNG casino games become available in New Jersey and Pennsylvania.
In addition, Evolution last month agreed to acquire spinning gaming wheels developer DigiWheel for €1.0m, in a deal it said would strengthen its igaming portfolio. DigiWheel’s digital technology will be blended into Evolution’s range of online live casino games and game shows, which includes a number of wheel-based games.
“DigiWheel’s technology is exciting, innovative and unique and will be blended into our online live casino games and game shows,” Carlesund said. “The ambition is to launch new games in 2022 using this technology.”
“We are now well on our way into an exciting and very hectic last quarter and we have had strong start to the fourth quarter so far.
“New games to release, new studios to build, OSS to be rolled out and great new Evolutioneers to recruit at the same time as all of us already here need to focus hard on what we can do better, what we can do to make Evolution a little bit better every day.”
Revenue dropped a mere 0.7% from August, essentially keeping level from month to month.
The September revenue report was released by the Nevada Gaming Control Board, marking a 28.5% increase over September 2020. Of the $1.16bn, $780.5m came from slots, up 28.5% from last year.
This partnership enhancement will allow Inspired to launch its digital lottery games on Loto-Québec’s online gaming website and the Loto-Québec app.
Through the deal, Inspired is set to launch original titles Scarab Treasures and Fruit Drop Scatterdrops in 2022.
Online casino players at OLG.ca can now enjoy live casino games from Evolution’s production studio in Vancouver.
“OLG is a leader in the digital gaming space, and we’re thrilled to be able to work with Evolution to extend our online game offering,” said Dave Pridmore, OLG’s chief digital and strategy officer. “We want to provide the best live dealer experience available, and we are confident that our players will love the quality and the choice of these games, playing at tables with other Canadian players and game presenters.”
