Month: May 2022

The total excludes regulatory settlements and additional donations and was also 82.6% more than the total amount donated in 2020-2021.

Gaming giant Flutter donated the highest amount of all operators at £14m.

This was made up of £6.1m in donations from Sky Betting and Gaming, £6m from Betfair, £680,000 from Stars Interactive, £663,599 from Tombola and £537,000 from Paddy Power.

The next-highest yearly donations came from Entain, at £8.7m.

Just behind this was William Hill, which donated £4.5m.

Bet365 contributed £4.2m throughout the year. This was made up of £2.6m from its UK sports division, £923,000 from its technology division and £601,000 from its UK gaming division.

These operators – comfortably the four largest in the UK – donated £30.9m of the total for the year. This is 89%.

In the final quarter of the year, operators gave more than double the £16.0m donated in the first three quarters of the fiscal year.

“These donations fund essential services for the prevention of gambling harms, helping build a coalition of expertise to tackle and prevent gambling harms across Great Britain,” said Zoë Osmond, CEO of GambleAware. “We welcome the commitment from the “big four” operators to increase their donations over the coming years, however, there remains an inconsistent approach to funding across the wider gambling industry, which leads to uncertainty and instability.”

“That’s why we are calling on the government to introduce a mandatory levy on the gambling industry as a condition of licence.”

Last month GambleAware reiterated its support for a mandatory 1% gross gaming yield levy for gambling operators in the UK, amidst a number of socioeconomic issues.

“The gambling industry should take the necessary and responsible steps by matching its success to the scale of gambling harms risk, especially at a time of rising financial and economic hardship across the country,” continued Osmond.

“This would commit much more funding to treatment, prevention, and research per year – and could be delivered in a matter of months.”

Consolidated revenue in the three months through to 31 March 2022 amounted to $273.6m (£221.7m/€260.2m), up 14.1% from $239.7m in the opening quarter of 2021.

Golden Entertainment posted growth across all areas of the business, with gaming revenue up 7.8% to $190.8m, food and beverage revenue rising 25.7% to $42.5m, rooms revenue climbing 39.7% to $24.7m and other revenue increasing 40.0% to $14.7m.

Breaking down this performance, revenue from Nevada casino resorts was up 28.9% year-on-year to $96.4m, while Nevada local casino revenue edged up 3.6% to $39.9m. Revenue from the Rocky Gap Resort Casino in Maryland also increased 11.2% to $17.9m.

Golden Entertainment also noted that revenue from its distributed gaming business jumped 8.5% from $109.9m to $119.2m during the quarter.

Turning to costs and operating expenses were 12.9% higher at $240.8m, which resulted in an operating profit of $32.9m, up 24.6% year-on-year.

The operator also reported $15.3m in net non-operating expenses, primarily due to $15.1m in interest costs, with this leading to a pre-tax profit of $17.6m, an increase of 70.9% on last year.

Golden Entertainment also received $18.5m worth of income tax benefits, meaning that it ended the quarter with a net profit of $36.1m, up 240.6% on 2021.

“Our record first quarter results reflect a continuation of the strong financial performance we delivered over 2021,” Golden Entertainment chairman and chief executive Blake Sartini said.

“Our strong cash flow has allowed us to reduce debt while returning capital to shareholders through our share repurchase program. Since the beginning of 2021 we have reduced indebtedness by $158.0m and since December 2021 we have also repurchased more than $25.0m of our common stock. 

“We expect to remain focused on returning capital to shareholders as the strength in our business continues.”

Under the deal, Caesars will serve as the exclusive casino partner to the White Sox while its Caesars Sportsbook will be an official sports betting partner of the team.

Caesars will have access to official team logos and marks, digital and social media assets, as well as rotational LED signage at the franchise’s Guaranteed Rate Field ballpark. The deal also includes TV-visible fixed signage and channel lettering on the left field video board at the ballpark.

Another aspect of the deal will include access to a range of exclusive White Sox experiences, which will be available to Caesars customers through its Caesars Rewards loyalty program. 

In addition, the White Sox will integrate Caesars into marketing efforts, team merchandise and experiences, as well as bring offers and promotions directly to fans through the Caesars Sportsbook app. 

“It’s a perfect time for Caesars to align with an iconic franchise like the Chicago White Sox,” Caesars chef executive Tom Reeg said. “Some of the most passionate sports fans in the country call Illinois home. 

“Caesars can provide White Sox fans and sports fans across the state with the very best in sports experiences through our world-class resorts and the recent relaunch of the Caesars Sportsbook app now available for mobile registration.”

White Sox chief revenue and marketing officer Brooks Boyer added: “By teaming up with a globally recognized entertainment leader in Caesars, we are delivering the combined brand reputation and shared commitment to offer our fans an extraordinary sports and entertainment experience.

“With energised talent on the field, our partnership with Caesars enhances the excitement for our fans with new experiences and programs.”

The deal comes after Caesars this week posted an increased net loss for the first quarter of its 2022 financial year despite also reporting revenue growth, as its digital division reported negative revenue and a $576m loss.

GamCare and the Responsible Gaming Council will receive £20,000 each, while Better Change will receive £6,000.

The donations came from seven businesses within the industry. Ambassadeurs Group provided the largest gift, with £10,000. Bet365, Kindred, Entain, Videoslots, Sky Betting and Gaming and IMG Arena each donated £6,000.

Ewa Bakun, Clarion Gaming’s director of industry insight and engagement, noted that the donations highlight the fact that ICE had increased its focus on responsible gambling in recent years through the Consumer Protection Zone. This year’s consumer protection zone was the largest in the show’s history.

“The CPZ was the brainchild of the Gambling Commission’s Tim Miller and was introduced to the ICE London show floor in 2018 when we had eight exhibitors comprising a mix of technology providers and charities,” Bakun said. “I’m delighted to say that at ICE London 2022 we had 14 exhibitors populated by the charities, treatment facilities and not for profit organisations that we gift the space to alongside commercial organisations, providers of responsible gambling tools, solutions and technology.

“Historically ICE London’s reputation revolved around the show’s status as the event where innovators launched their latest products and the opportunity it afforded to network and meet with colleagues from throughout the world. While all of that remains true I also believe that ICE is now regarded as a trailblazer for developments and advances in safer gambling with that focus being the CPZ.”

The ICE London 2022 Consumer Protection Zone hosted a number of safer gambling charities, including Gordon Moody, GamCare, YGAM, Responsible Gambling Council and Gamstop. In addition, suppliers of safer gambling products such as Future Anthem, Gamblewise, Mindway AI, Casino Guru, TruNarrative, BeBettor, W2 and Crucial Compliance also exhibited.

Outside of the CPZ, the ICE VOX conference programme featured a Responsible Gambling Masterclass, as well as sessions related to ESG, sustainability and perceptions of the gambling industry.

Consumers wagered a total of $4.2m (£3.4m/€4.0m) on sports during the four weeks to 24 April, down 23.6% from $5.5m in the same month in 2021 and also 19.2% down from $5.2m in March this year.

This total, figures published by the Delaware Lottery show, was the lowest monthly amount since $4.1m was bet in July 2021.

Revenue for April reached $314,336, which was 64.5% lower than $895,299 in July last year and 43.2% down from $553,465 in March 2022.

Delaware Park retained top spot in the market, posting $151,674 in revenue from $2.1m in wagers.

Dover Downs placed second with $95,059 in revenue and a handle of $1.2m, while the Harrington Raceway followed in third, reporting $67,603 in revenue from $853,005 in wagers.

Players won a total of $3.8m from sports betting during the month, placing 142,465 bets in the process.

Revenue for the three months to 31 March 2022 amounted to $72.9m, up from $55.4m in the corresponding period last year.

Gaming operations revenue for the quarter jumped 19.8% year-on-year to $53.2m, while revenue from equipment sales also increased by 80.7% to $19.6m.

Breaking down this performance by business segment, AGS said electronic gaming machine (EGM) revenue was up 32.4% at $50.5m, driven by higher-yielding premium games, more consistent core game content execution and a stable gaming macroeconomic backdrop.

Table products revenue reached a new quarterly record of $3.5m, an increase of 26.3% on last year, as AGS reported sustained customer demand for its progressive products in this area.

Interactive revenue also climbed 18.5% year-on-year to $2.5m, with growth in real-money activities offsetting a decline in social gaming revenue within this segment.

However, the overall increase in revenue in Q1 was accompanied by a rise in spending, with total operating expenses for the period jumping 29.5% to $67.2m. Costs were higher across all areas, with the exception of write-downs and other charges.

This left an operating profit of $5.7m, up 67.7% year-on-year, but AGS also noted a number of other costs for the quarter including $9.5m in interest expense and $8.5m in the loss on extinguishment and modification of debt.

As a result, pre-tax loss amounted to $12.1m, compared to $7.4m at the same point in 2021. AGS paid $467,000 in income tax and, despite a $1.0m positive foreign currency translation adjustment, it ended the quarter with a net loss of $11.6m, wider than $8.6m last year.

The provider, however, did note that adjusted earnings before interest, tax, depreciation and amortisation (EBTIDA) for the quarter was 24.5% higher at $32.8m as a result of the increase in revenue. 

“I am encouraged by the degree to which the operating momentum we established throughout 2021 continued into the first quarter,” AGS president and chief executive David Lopez said.

“We have heavily invested in strengthening the foundation of our company over the past couple of years and are beginning to realise accelerating returns on these investments. 

“To that end, I believe our solid first quarter performance simply foreshadows what our laser-focused organisation can accomplish in the quarters and years ahead.”

ESIC issued sanctions against 37 coaches in September 2020, after it was found that the coaches had abused a bug in CS:GO’s spectator mode. This was referred to as the spectator bug.

This launched a historical investigation, in which 99,650 video demos were examined.

The historical investigation revealed three spectator bug variants- the static spectator bug, the third-person spectator bug and the free roam bug. These were referred to as the spectator bug variants.

A total of 97 additional players were found to have used these variants. ESIC announced that it will issue charges against these players, who were not charged during the initial 2020 investigation.

The 47 participants who used the static variant and the three participants who used the free roam variant have been suspended from play pending further investigation.

Those who used the free roam variant could face a 24 month ban from the game, while the penalty for static variant users will be determined pending the application of ESIC’s sanctions matrix.

The third-party variant, however, was deemed less serious.

Unlike the others, this variant lasted for one round only. Additionally, this variant was not triggered by any participants- each participant was bugged by accident. However, the 47 participants under investigation continued playing CS:GO and took advantage of the bug, which the ESIC Commissioner assessed to be a breach of the ESIC code of conduct.

If they are charged after the investigation has been resolved, the third-person variant users could receive a 30 day ban per occurrence of the bug.

However, the 47 participants who used the third-person variant were not provisionally suspended while investigations continue. This was because ESIC deemed this variant to pose “a relatively low risk to competitive integrity”.

The Foundation was originally set up for educational and sports projects for children, but has since re-allocated its resources towards helping Ukrainian women and children through the war.

It is now made up of multiple aid branches, including humanitarian aid, medical needs, financial aid and establishing new partnerships to raise funds.

More than €190,000 of the €510,000 was used to purchase humanitarian aid, which included 40 tons of food, medicine and clothes that were delivered to Kyiv, Chernihiv and other affected regions.

This portion of the funds has also went to securing evacuations and providing financial support for Ukrainian athletes with disabilities

Last month Parimatch partnered with British charity organisation WeHelpUkrainians to launch the Ukraine Hospitals Appeal initiative, which aims to raise $1m for those affected by the conflict.

In March Parimatch withdrew its Betring LLC franchise from Russia in response to the war. In the same month it cut ties with Russian esports team Team Spirit.

Everi will pay $12.5m up front, with two additional payments based on future revenue to be made in 2023 and 2024. Total consideration is expected to fall between $22m and $27m.

In 2021, Ituicode generated more than $10 million in annual revenue from the sale of gaming machines and recurring participation revenue from game theme placements at historical horse racing (HHR) locations throughout the US.

Everi’s executive vice president and games business leader, Dean Ehrlich, said: “This acquisition is a significant opportunity that brings substantial HHR knowledge and game development expertise to Everi that we expect will help expedite the development and commercialisation of our extensive library of content into the HHR market and favorably position us for future growth.”

He continued: “We are excited to welcome members of the Intuicode team to Everi, and we look forward to combining our respective strengths to develop new content as well as convert our proven, player-popular games to address the growing HHR market.”

This news follows Everi recording a net profit of $152.7m for its 2021 financial year – up 72.1% from $383.7m. The company also announced that it would release its Q1 2022 financial reports before the market opens on May 10.

As part of the deal, Genius Sports will provide Betsul with the operatons of the entire sportsbook operations, including a full suite of data-driven outsourced tools across its PreMatch, LiveTrading and Risk streaming solutions.

The partnership includes Genius’ Sports’ portfolio of Brazilian content, which live streams football, basketball, volleyball, futsal and beach volleyball competitions through official partnerships with the Brazilian Basketball League (LNB), Brazilian Volleyball Confederation (CBV) and the Liga Nacional de Futsal.

The company’s premium global partnerships will also give Betsul access to the English Premier League, Liga MX, the Argentine Primera Division and Dimayor.

“The Brazilian sports betting market is poised for explosive growth under a transparent and competitive regulatory system,” said Fernando Martinez, head of commercial in LaTam for Genius Sports.

Brazil published its proposed changes in sports betting rules earlier this week, including a BRL22.2m licence fee. The rules also specified that operators based abroad must set up a subsidiary in Brazil and must have “sufficient capital and economic and financial capacity” to operate.

“We’re pleased to be playing a central role in powering Betsul’s offering, combining our leading Brazilian sports content, streaming services and live trading capabilities.”

Fernando Rivas, CEO and Betsul continued, “We are very pleased to have this new business partnership going live. Genius Sports has always been one of the great references in the betting market and we have great potential for growth together, especially in the Brazilian market.”

This follows Genius announcing its partnership with golf’s PGA Tour in a fantasy game earlier this month.