Month: July 2022

Genetski takes on his new role having served as the group’s chief legal officer for the past seven-and-a-half years, prior to which he spent a year as its chief commercial officer.

As president, Genetski will oversee all of FanDuel’s business development, partnership, corporate strategy, and government affairs units, as well as assume responsibility for driving the group’s vision and execution of strategic partnerships and new business initiatives. 

Raffensperger move into the position of chief commercial officer after four-and-a-half years as chief marketing officer at FanDuel, prior to which he was head of marketing for Amazon, director of digital strategy and marketing for DirecTV and also served in several roles with Magnet Media.

In his new role, Raffensperger will oversee revenue generation across FanDuel’s sportsbook, casino, racing, daily fantasy and free-to-play platforms, as well as take on commercial leadership duties, which were previously the responsibility of chief executive Amy Howe.

“It cannot be overstated how seminal both Christian and Mike have been to not only the success of FanDuel but to the industry more broadly,” Howe said. “Each have helped nurture and evolve FanDuel from innovative upstart to the dominant market leader in sports betting and igaming. I am delighted to expand their roles as we continue into the future.

“Keeping Christian’s deep institutional knowledge within FanDuel was critically important to me. In his expanded role, Christian’s expert voice will impact decisions that are vital to creating a sustainable long-term business, while providing critical continuity for FanDuel to thrive in the future.  

“Similarly, Mike’s leadership of our revenue producing commercial units and marketing is a structure we believe best positions us for growth and reflects how important his performance has been to our success.”

The double appointment comes after FanDuel last week announced Mischief @ No Fixed Address as the new creative agency for its online casino business.

Throughout the partnership Mischief will be responsible for creative duties relating to FanDuel Casino. The debut campaign is due to launch towards the end of 2022.

Revenue was 29.5% higher than the $3.87bn that was reported during FY20-21, which was incidentally also the state’s previous record total.

Land-based gambling drew the highest percentage of revenue during the year, with revenue from retail slots increasing 27.7% year-on-year to $2.41bn, while table games revenue also jumped 40.7% to $1.02bn.

Sports betting revenue edged up 2.2% to $315.8m, though the Pennsylvania Gaming Control Board (PGCB) did not publish a breakdown of online and retail revenue figures for this sector of the market, nor did it disclose handle details.

Valley Forge, along with partner FanDuel, ranked first in the sports wagering sector with $160.1m in revenue, some way ahead of Hollywood Casino at the Meadows’ Barstool Sportsbook on $52.5m and Hollywood Casino at Penn National and DraftKings with $23.8m.

Turning to igaming, revenue reached $1.23bn, an increase of 37.4% on the previous year. While the PGCB did not offer a full breakdown of this market, it did reveal Hollywood Casino at Penn National led the sector with $481.4m in revenue.

Rivers Casino Philadelphia ranked second in the igaming sector with $319.2bn in revenue, then Valley Forge Casino Resort on $221.8m in revenue for the year.

The PGCB also noted that video gaming terminal revenue for the financial year increased by 32.7% to $41.6m, though fantasy contests revenue slipped 3.1% to $27.3m, making it the only area of the Pennsylvania market to experience year-on-year decline.

Meanwhile, the PGCB also published results for the final month of FY2021-22, with total market revenue for June reaching $389.8m, up 0.24% from $388.9m last year, but 13.0% down from $447.8m in May 2022.

Retail slots were the primary source of revenue during the month, with revenue here up by 5.5% year-on-year to $193.0m. However, land-based table revenue edged down 1.9% to $76.1m.

Sports betting revenue dropped 62.7% to $12.8m, with online revenue at $11.4m and retail $1.3m, The PGCB also noted a 6.4% year-on-year decline in handle for the month to $393.5m.

Valley Forge and FanDuel led the market with $5.4m in revenue of $158.2m in total wagers, ahead of Hollywood Casino at the Meadows and Barstool with $1.9m from $88.6m and Hollywood Casino at Penn National and DraftKings on $1.1m off a $24.2m handle.

In terms of igaming, revenue increased by 15.8% to $102.9m, with online slots revenue at $72.3m, internet table games revenue reaching $28.0m and online poker revenue at $2.6m.

Hollywood Casino at Penn National claimed top spot here with $42.0m in revenue, ahead of Rivers Casino Philadelphia on $25.5m, then Valley Forge Casino Resort on $18.4m.

Elsewhere, video gaming terminal revenue climbed by 6.2% year-on-year to $3.5m, while fantasy sports contest revenue declined by 20.4% to $1.5m.

Online sports betting revenue continued its downward trend, dropping below the €100 million mark for the first time since October 2021. This is compared to €153.5 million from May 2021. This drastic year-on-year drop is partially explained by restrictions that were in place on the retail sector in May last year, prompting more customers to bet online.

However, retail sports betting also suffered a sudden decline on a month-on-month basis after a period of stability, coming down from €83.5 million in April to €66.4 million in May.

In contrast to the betting figures, casino revenue ticked slightly upwards to €161.8 from €155.1 million. As a result, the igaming revenue product split swayed heavily away from sports betting, taking up only 35.3% of the market in May as opposed to 40.7% in April.

The drops in market share that the biggest four online casino operators by GGR saw last month have mostly stabilised. Snai remained at a 7.3% market share while Lottomatica and Sisal both dropped by 0.1% to 7.2% and 8.4% market shares respectively. Pokerstars faired a little worse as its market share declined to 8.5%, nearly wiping out all the gains it had made in recent months when it rose to a high of 9.7%.

In sports betting, May was a month of individual companies making large gains in market share. The biggest mover in online-only sports betting was Planetwin365, which went from 9.6% in April to an 11.5% market share in May.

To find the last time the business had such a high market share, we need to go all the way back to November 2020, when it held 12.0% of the market. This increase has also resulted in a larger share of the combined online and retail sports betting market.

This gain in the overall sports betting market for planetWin365 was outshined by Goldbet, however, which now hold a market share of 21.3% compared to last month’s 15.5%. This is the first time an operator has breached the 20.0% threshold since Bet365 in April 2020.

Pokerstars appears to have lost some of its momentum in May as its market shares for poker cash games and tournament play both took a dip. Its share of the tournament market dropped down to 44.7% from 48.8% in April, while its share of cash games was down to 41.9% from 43.4% in April. At the same time, and continuing the trend of big gains in May, E-Play 24 made up a lot of ground in both tournament play and cash games. Its market share in tournament play revenue increased to 9.8% from 7.8%. In cash games, the increase was even more pronounced, as its market share increased to 12.5% from 9.6% in April.

Ficom Leisure is a leading European corporate advisory firm specialising in all segments of the betting and gaming sector.

Ficom Leisure also provides exclusive monthly estimates on the Spanish online market in the Spain iGaming Dashboard, including operator market shares across casino, sports betting and poker. It also provides monthly estimates on several US states, including New Jersey in the New Jersey iGaming Dashboard, Pennsylvania in the Pennsylvania iGaming Dashboard and Iowa in the Iowa iGaming Dashboard.

The opening of these business’s will be subject to the health authority’s guidelines for epidemic prevention and will not include nurseries, shops in shopping malls or ongoing interior renovation works on buildings.

The chief executive also maintained his stay at home order, asking the public to remain indoors except for travelling to work, going out shopping, or other necessary tasks. Those leaving their residences are expected to wear N95 masks at all times.

Cinemas, cinemas, indoor playgrounds, game consoles and electronic game rooms, internet cafes, billiard rooms, bowling alleys, steam baths, massage parlors, beauty parlors, fitness parlors, health clubs, karaoke venues, bars, nightclubs, discos, dance halls, dance halls and swimming pools will continue to be closed until further notice.

Restaurants will only provide take-away service and will not resume indoor dining. With these continuing restrictions in place it remains to be seen how busy the concessionaires will be following re-opening.

Macau had first closed down, and then extended the closure, all non-essential industrial and commercial activities from 11-22 July as the outbreak mounted – with many stuck in place at locations throughout the city, including in the Hotel Lisboa casino.

While the outbreak is relatively small by western standards and is yet to produce a single death, China’s ongoing “covid-zero” strategy means that any cases in a region can lead to severe government action.

According to official figures, over 90% of residents in the Special Administrative Region are fully vaccinated, meaning that they have had at least two doses of the vaccine.

In the last week, the new covid cases per day count has steadily reduced from a high of 109 confirmed cases on 10 July, to only 6 incidents on 18 July.

Spillemyndigheden is named as an involved authority in the government’s strategy document along with such organisations as the Danish Financial Supervisory Authority, the Bar Council and the Danish Business Authority.

Within the document the Money Laundering Secretariat and the Police Intelligence Services assess that the areas with the greatest risk for money laundering and terrorist financing are entities such as currency exchange companies and money transfer companies, high-value goods trading, neo-banks, cryptocurrency, the gambling sector and parts of the non-profit sector.

Additionally, among the five pillars of the new strategy are some new language which may have regulatory implications for the gaming sector going forward: increased co-operation between public and private actors, a focus on international collaboration and an increased use of digital and technological solutions.

Justice Minister Mattias Tesfaye made a statement along with the revealing of the strategy: “Criminal gangs and international tax evaders use money laundering to disguise their illegal profits. That must be stopped.

“Economic crime goes across national borders, and the fight against economic crime goes across authorities. Therefore, the government has already taken a number of initiatives to help stop the fraud.”

Tesfaye added that the Danish police had set up a new AML unit.

“Among other things, we have established a new unit in the police, which will deal with this type of special crime, and which will be at the table of a new operational cooperation with private actors in the fight against money laundering.”

“But we can and must do more. Therefore, the new strategy is a real and important initiative that we can use in a common and more focused fight against organized crime and not least the people behind it.”

The strategy is planned to run until 2025 and will attempt to builds on previous AML initiatives taken in recent years.

Minister of Trade and Industry Simon Kollerup added: “Money laundering is cheating the community, and we will never accept that. With the strategy, we take action against the criminals who exploit the system for their own gain.”

“We strengthen the efforts at all levels, so that the criminals are hit where it hurts the most. We do this through strengthened control and cooperation both nationally and internationally. The strategy is a visible proof that we are prepared to take all necessary steps towards strengthening the fight against economic crime.”

Spillemyndigheden has chastised a number of operators recently over money laundering failures – notably Casumo in July, bet365 in May and Reel this February.

Gross internet gaming and sports betting receipts from commercial and tribal operators were up 19.9% from $114.2m in June 2021, but 14.9% lower than $160.9m in May of this year.

Internet gaming gross receipts were 36.2% higher year-on-year at $121.5m. Sports betting gross receipts amounted to $15.4m, down 38.4% on last year, despite a 14.8% year-on-year increase in handle to $270.0m.

Total adjusted gross receipts, which account for promotional spending, were $114.4m, with $109.4m from igaming and $5.0m sports wagering.

Licensed operators submitted $22.8 million in taxes and payments to the State of Michigan during June including $22.5m in igaming taxes and fees and $328,954 worth of sports betting taxes and fees.

The Michigan Gaming Control Board (MGCB) also noted that aggregate igaming adjusted gross receipts reached $681.7m, with aggregate internet sports betting adjusted gross receipts at $74.1m.

Last week, it was reported that the three commercial casinos in Detroit, Michigan, posted $98.6m in total revenue during June, an 8.8% drop on the same month last year.

Revenue from the MGM Grand Detroit, MotorCity Casino and Penn National’s Hollywood Casino at Greektown was down from $108.1m in June 2021 and also 9.3% lower than $108.7m in May of this year.

Breaking down the monthly performance, table games and slots were responsible for $98.2m of all revenue for the month, but this was 7.2% lower than in June of last year.

Turning to retail sports betting, and qualified adjusted gross receipts (QAGR) here reached just $448,703, down 80.5% from $2.3m in June 2021, with players wagering a total of $22.4m.

In Q2, wagers were up 1.0% year-on-year to PLN1.11bn, despite Q2 of 2021 including the rescheduled Euro 2020. However, net gaming revenue – which includes gambling taxes as well as winnings – declined by 16.6% to PLN138m.

The business had 375,000 active users during the quarter, down from 417,000 in the same period of 2021. In addition, it reported 92,000 new registrations, down 22.7%, and 66,000 first-time depostors, down 19.2%.

Looking at the first half of 2022, net gaming revenue came to PLN296m, very slightly up from the same period of 2022.

The increase came as total wagers with the operator dipped sightly to PLN2.19bn.

“In the first half of this year, we achieved very good operating results,” STS chief executive  Mateusz Juroszek said. “We have slightly improved NGR – the value of amounts staked by the customers, less the winnings paid and gambling and lottery tax – compared to the same period last year. 

“It is worth noting that in 2021, the Euro 2020 was played in that period. 

“In the second half of this year, we hope that the very attractive calendar of sports events and the World Championships in Qatar will allow us to develop even better operating indicators, which will also positively translate into financial results.”

The future of gaming affiliation may involve more focus on compliance and safer gambling, Betsson Affiliates’ Sebastian Jarosh says, as businesses such as his own want to ensure that their brand is protected by only working with the most reputable partners. At the same time, he says, affiliates may also have great opportunities through new technology such as the metaverse.

In his new role, Lebleu will be responsible for implementing the operator’s casino strategy, including operation and promotion activities, as well as overseeing tactical changes across operations and promotions to reach the casino revenue targets.

Lebleu will also maintain the operational integrity of Betcris’s casino activity including the implementation and optimisation processes to test game content and core casino app functions.

Lebleu has worked across both the B2C and B2B gaming segments for more than 25 years, serving in roles for William Hill, NetEnt and Gaming Innovation Group.

Most recently, Lebleu was senior sales director for the for Skywind Group,

“I’m very excited about this opportunity; I’ve known Betcris since I started to work in Costa Rica a quarter of a century ago, and I’m pleased to have reached an agreement with Betcris,” Lebleu said.

“In my opinion is one of the most respected brands in Latin America, with a retail and online presence in the majority of the LatAm countries.”

The scheme will look at how industry, government and clinical stakeholders would respond to certain scenarios in which a fictitious online betting customer demonstrates potentially problematic gambling behaviour.

An anonymous and voluntary survey, designed by PointsBet in collaboration with NCPG and the Massachusetts Council on Gaming and Health, will be issued to attendees of the National Conference on Gambling Addiction & Responsible Gambling 2022. 

The survey will feature three fictional customers demonstrating potentially problematic gambling behaviour, with those attendees that take part to be asked to take on the role of an operator and determine the best course of action for the customer.

“With the rapid expansion of legalised sports betting across the US, a commitment to responsible gambling today will have a direct impact on the future health of players and sustainability of the industry,” PointsBet USA chief exectuive Johnny Aitken said. 

“Navigating how to identify and address problem gambling is a complex and sensitive issue, and operators are regularly faced with how to best respond to customers who are exhibiting problematic gambling behaviour. 

“Through this research project, we’re aiming to gain more insights on the thought process that goes into finding solutions for those impacted by problem gambling as well as better help inform operator decision making on this matter.”

NCPG executive director Keith Whyte added: “Online gambling operators are required to provide various responsible gambling tools. These tools should be regularly reviewed and evaluated by stakeholders to ensure they are adequately serving customers. 

“Our hope is that the results of this survey will spark dialogue amongst operators as well as regulators, treatment providers, researchers, and problem gambling advocates to help inform the responsible gambling decisions that online gambling operators face.”