Total revenue for month reached $462.7m, up from $422.5m in April 2022 but 5.1% behind the $487.4m generated in March of this year.
All areas of the market experienced year-on-year growth, with the exception of land-based slots where revenue fell 3.2% to $169.7m. Retail table games revenue edged up 2.9% to $61.8m, but the slots decline meant total land-based revenue fell 1.6% to $231.5m.
Online gaming contributed $159.4m to this, compared to the $171.8m record achieved in March. Gross sports betting receipts fell by 18.6% to $36.3m.
Adjusted gross receipts, which account for promotional spending, combined to total at $167.9m. This was made up of $143.4m from online gaming and $24.5m from sports betting.
As part of the agreements, the sports betting platform will gain market access for mobile sports betting in the state. The agreements will also kick off plans to open brick-and-mortar retail sports betting locations in Central Kentucky, which will be subject to approvals from the Kentucky Horse Racing Commission.
Kentucky’s Governor Andy Beshear signed sports betting into law last month.
The survey was conducted by the Office for National Statistics (ONS).
This percentage is compared to the 0.5% reported in the 2018 survey, the last date such information was recorded.
The HSE is an annual NHS statistical survey of health and health-related behaviour of individuals living in England. Since 2019, the body has intermittently chosen to catalogue problem gambling information. The ONS collected data for the survey between 1 January 2021 to 31 March 2022.
According to the survey, the problem gambling rates for men fell from 0.8% in 2018 to 0.6% in 2021, while declining from 0.3% to 0.1% in 2021.
Over the course of the study, the ONS asked more than 3700 people about their gambling habits, using two critical assessments to measure problem gambling – the Problem Gambling Severity Index (PGSI) and DSM-IV scores.
The results are largely similar to the recent quarterly gambling prevalence telephone survey, which identified a 0.3% headline gambling rate.
Despite the apparent fall in the problem gambling rate, the HSE warned against like-for-like comparisons against previous findings. Due the impact of the Covid-19 pandemic, the data collection differed from previous years, with telephone interviews replacing in-person fieldwork.
Additionally, the government closed many in-person gambling facilities such as casinos, bingo halls or betting shops during the relevant period, once again complicating comparisons with previous time periods.
The results were highlighted by industry trade association the Betting and Gaming Council (BGC) as proving that problem gambling rates in England remained low by international standards.
Chief executive Michael Dugher said the organisation welcomed another independent study confirming that problem gambling rates appear to be falling in the UK.
“This latest study by the NHS – the most comprehensive in three years – endorses our belief that the right approach is to use technology and multiple markers of harm to identify and carefully target problem play or vulnerable customers,” said Dugher.
Dugher also pointed to the results of the HSE as evidence in favour of the governments approach to the implementation of “frictionless” affordability checks.
“While these figures are encouraging, we refuse to be complacent, and will continue to work with government and our members to deliver on the white paper and drive up standards.
“This study is another reality check for anti-gambling prohibitionists who lobby tirelessly to campaign on the basis of a fallacy that problem gambling is some kind of public health emergency. The hard evidence continues to disappoint them at every turn.”
This was up by 14.6% year-on-year.
March saw the highest ever grossing month revenue-wise, hitting $5.90bn.
AGA president and CEO Bill Miller said that the quarter represented the strength of the American gaming sector, and its recovery from the Covid-19 pandemic.
The bookmaker said that it would donate all profit from bets on Eurovision to the UK-based charity, which provides humanitarian aid to displaced Ukrainians living in the UK, as well as their families who are unable to leave the country to seek safety.
Funds will be used to provide essential food supplies, toys for children and humanitarian aid.
Swedish pop star Loreen claimed victory at the final on 13 May with her song ‘Tattoo’, and in doing so became the first female singer to win the competition twice.
Finland’s entry Cha Cha Cha by Käärijä placed second, while Noa Kirel of Israel, Italy’s Marco Mengoni and Alessandra Mele from Norway completed the top five in the final.
The event took place in Liverpool, with the UK city having assumed hosting duties as last year’s winner, Ukraine, was unable to stage the final due to the ongoing conflict with Russia in the country. The UK finished second in 2022.
“Anyone that placed a bet this weekend on the Eurovision has helped the cause, regardless of if their bet slip was a winner,” William Hill spokesperson Lee Phelps said.
“It has been over a year since millions of Ukrainians had their worlds turned upside down, and on the weekend of a Eurovision that should be being held in Kyiv, it is a stark reminder that the fight is ever-present – but so too are the relief efforts, and the resilience shown by a nation with a heart of steel.”
A Support Ukraine spokesperson added: “We are immensely grateful for all the support Ukrainians have received from the UK and British people, and for their grand offer to host Eurovision on behalf of Ukraine.
“The money will help provide necessities to those effected on or near to the front line and de-occupied territories, including medical aid such as medicine and much needed medical evacuation vehicles.”
In the case of many acquisitions, one company is absorbed into another and simply becomes part of the furniture. A name on a list of recent M&A deals; a feather in the acquirer’s cap.
For others, the two companies remain distinct, despite the acquisition. As was detailed in Fanatics’ $150.0m acquisition of PointsBet’s US business – which was also announced yesterday – PointsBet will retain much of its character, managing to grasp onto its Australian and Canadian businesses, as well as its sports betting and igaming platform.
For Maimon, Aristocrat’s acquisition of NeoGames is a mixture of both these outcomes. While NeoGames will become an integral part of Aristocrat’s structure, the deal will allow both companies to offer their best assets to the other.
This was not what Maimon set out to do. In fact, NeoGames was not even up for sale.
“It’s not that we were on the shelf looking for buyers, that was not the process,” says Maimon. “Aristocrat were on the market to look for potential companies that will complement their offering.”
“They had the chance to review many of the companies out there, and once they got to the conclusion that we can complement everything that they have, and create a good trigger and an engine for their future growth in real money gaming, that’s when the process started.”
This acquisition marks a positive chapter in Aristocrat’s M&A activities and breathes new life into its online ambitions, following on from its successful acquisition of Roxor Gaming and its failure to acquire Playtech last year.
Maimon maintains that NeoGames and Aristocrat fill in each other’s blanks, making them a natural fit for this sort of deal.
“There are many boxes that we checked for Aristocrat and I believe that it’s a really strong match, one where one company is not overlapping each other,” he explains. “It’s not the case of two companies working in the same environment, acquiring the other in order to gain market share.”
“It’s two companies that are working in different environments, complementing each other.”
This is particularly true when considering expansion opportunities.
“They [Aristocrat] will be able to grow our client base in places that we have only an entry in right now,” Maimon continues. “Sometimes it’s funny to see that we are active in 30, 40, maybe 50 regulated markets. We thought that was a lot. But Aristocrat is live in more than 200 regulated markets.”
Although Aristocrat has a much larger reach than NeoGames, Maimon notes that NeoGames has a presence in markets yet unventured by its acquirer.
“We have a very strong ilottery business,” he says. “It’s a market leading business in North America. This is a market where Aristocrat don’t have any presence right now.”
“We have a presence in places that Aristocrat is less exposed to, like Africa, and they see this also as an opportunity.”
Maimon says that Aristocrat will transform NeoGames’ businesses – Pariplay, Aspire Core, BtoBet and its ilottery division – in a way the industry has not seen before.
The businesses were acquired last year as part of NeoGames’ acquisition of Aspire Global.
“To each one of these companies, what Aristocrat will contribute is enormous,” assures Maimon.
To Pariplay, Aristocrat will offer its reach and expansion opportunities. “If Pariplay want to sell, they must have content out in the world – that’s where Aristocrat comes in. Everyone will want to connect with Pariplay – it’s massive.”
BtoBet, meanwhile, will benefit from the roster of operators Aristocrat currently serves.
But it’s what Aspire Core can offer Aristocrat that forms the crux of this deal. NeoGames will act as a funnel for Aristocrat’s land-based operators who wish to enter the online space, giving customers a one-stop-shop for their land-based and online needs.
“Think about Aspire Core… every operator that will want to move from land-based to online will want to have the most successful games in the land-based sector right now,” Maimon explains. “They will want to give the same experience to their players.”
“We will have one view for [Aristocrat’s] land based operators once they want to move to online, so they can do it with the same company, with Aristocrat.”
Tying the two businesses together in a mutually beneficial fashion will be key to the continued success of Aristocrat’s land-based business, which Maimon hails as a “major source of income” for the company. And with a $1.2bn price tag attached to the deal, he knows there’s a lot of hype to live up to.
The dogged attempts to keep the acquirer and acquiree distinct, but loosely related, is not exactly unique. Perhaps it is one way to further publicise the pricey acquisition, to draw more attention to its potential impact.
But for Maimon, the true meaning of the acquisition lies in its structure. NeoGames will not be smothered by Aristocrat’s market share or offerings – instead, it will have space to operate.
As Maimon says, “The fact that we are complementing each other, and not overlapping, is a strong proposition.”
Smith served as CEO for almost 17 years, having first taken on the position in August 2006.
However, writing in a post on her LinkedIn page, Smith said she would now step away from the “intense” day-to-day requirements of being CEO and transition into an advisory role.
“I am excited for this new challenge as this will allow me to explore some new opportunities and strategic projects alongside [Pinnacle owner] Magnus Hedman – while still remaining close to the strategy and support of the beloved Pinnacle team,” Smith said.
“Throughout my time at Pinnacle, the company has grown in both scope and size, often seeing opportunities to be a market leader. My passion for the industry and the people in the industry will never leave me.
“I have focused on building a diverse and experienced management team within Pinnacle that allows me to move into this next phase of my career with the confidence that Pinnacle is in good hands.
“I hope I have created a lasting legacy in my time as Pinnacle’s CEO, as I have always said it is an honour to have the privilege to lead such an incredible brand and organisation.”
Smith also confirmed in the post that Pinnacle has already commenced a search to identify and appoint her replacement.
“This is an exciting time and I’m so grateful for the team at Pinnacle which have become friends and family,” Smith said. “The culture of Pinnacle is unique and one of the many attributes that makes it such a special company.
“Many thanks to everyone who has made not only the last 17 years at Pinnacle but the previous 11 years in this fabulous industry such a special part of my life. I’m forever grateful and humbled.”
Massachusetts launched legal online sports betting on March 10, with six licensed operators currently active in the state: Barstool Sportsbook, BetMGM, Caesars Sportsbook, DraftKings, FanDuel and WynnBet.
The $566.2m wagered by consumers in April continued a strong start to legal online betting in Massachusetts, following the $548.1m spent in the opening three weeks of regulation.
The total amount wagered in February was comfortably higher than the $491.7m spent in the same month in 2022, and also up from $591.2m in January this year, despite being a shorter month.
Players wagered $604.9m via mobile during the month, compared to just $3.6m at retail sportsbooks in the state.
