Month: May 2024

Mohegan Tribal Gaming Authority achieved record quarterly net revenue but saw earnings drop during the quarter in which its Mohegan Inspire resort opened in South Korea.

The group generated net revenue of $461.7m (€428.3m/£368.8m) during the three months to 31 March 2024. This was a 13.8% year-on-year increase.

Net revenue from its Domestic operations in the US was fairly flat at $300.4m, up by 1.0% year-on-year. While its Mohegan Digital operation grew by just over 70%, this accounted for just $38.8m of revenue.

Net revenues of $108.1m from International operations increased by 52.8% compared with the prior-year period. This was primarily driven by Mohegan Inspire, the $1.6bn resort which opened on Yeongjong Island on 5 March.

Mohegan saw growth across its operational segments, with gaming up 7.0% to $305.4m.

However, with operating costs up by 25.7% to $430.5m, Mohegan delivered a net loss of $44.5m.

Adjusted EBITDA dropped 17.8% from $102.1m in the same period in 2023 to $84.0m. While the Domestic figure was flat, the International segment saw a negative figure of $16.6m.

This was primarily due to operating costs related to the opening of Mohegan Inspire and a $5.0m non-controlling interest adjustment related to Niagara Resorts. Mohegan said the exclusion of the Niagara figure gives a more accurate comparison with prior periods.

Century’s “challenging” start to 2024

Century Casinos described a “challenging” start to 2024 as it wrestled with construction disruptions and the closure of three of its casinos in Poland.

Net operating revenue was $136.0m during the three months to 31 March, a year-on-year increase of 25%.

US revenue was up by 45% to $96.0m, with double-digit growth also in Canada. However, its Polish business dropped by 15% to $21.6m because of temporary closures due to licensing delays. Century said it expects the three venues to reopen in Q3 2024.

The quarter was further impacted by disruptions from severe weather at the majority of its US casinos. Cash payments of $12.2m for taxes related to the September 2023 sale and leaseback of its Canada properties and a $3.4m one-time principal paydown of debt as well as $18.4m in property and equipment purchases decreased its overall cash balance.

Earnings from operations were $8.3m, which was a year-on-year decrease of 55%. Century is constructing a new land-based casino with a 38-room hotel in Caruthersville, Missouri. The project continues to be on time and on budget with an estimated project cost of $51.9m.

Erwin Haitzmann and Peter Hoetzinger, co-chief executives, said: “Our positive outlook for the second half of 2024 into 2025 remains unchanged. Our increased spend on capital projects throughout our properties is expected to end over the summer.

“By 2025, all of our operations should be in great shape with no more construction disruptions and all casinos in Poland fully operational. We are also excited about the performance of The Riverview, our new hotel at Century Casino Cape Girardeau, Missouri, which has exceeded our expectations so far.”

SJM revenue surges thanks to Macau revival

Macau-focussed SJM Holdings saw business thrive at its flagship Grand Lisboa Palace and Grand Lisboa resorts as net revenue grew by 73.0% year-on-year.

Punters returned to the hotels in their droves, with occupancy of 98.3% at Grand Lisboa, compared to 85.3% in the same period last year. Macau has made a strong start to 2024, with gambling revenue reaching MOP19.50bn (£1.02bn/€2.25bn/$2.42bn) in March, the joint highest monthly total since before the pandemic.

Hong Kong-headquartered SJM generated HK$6.9bn ($882.9m/€819.1m/£705.2m) during the three months to 31 March. Net gaming revenue was up 74.5% to HK$6.5bn. Hotel, catering, retail, leasing and related services revenue was up 54.6% to HK$456m.

Total revenue from both the Grand Lisboa Palace and Grand Lisboa grew by almost HK$1bn to HK$1.4bn and HK$2.0bn respectively.

Adjusted EBITDA during Q1 2024 was HK$864m, as compared with just HK$31m in the prior period. Grand Lisboa’s figure was HK$535m, as compared with HK$156m in Q1 2023. Grand Lisboa Palace jumped from a negative HK$230m to a positive HK$88m.

FanDuel claims its new free ad-supported streaming television (FAST) channel shows more live sports than any other FAST channel currently out there, making it the “premier destination” for sports fans looking to watch and bet concurrently.

FanDuel TV Extra is currently available through streaming platforms such as Pluto TV and the Roku Channel. It’s also accessible through FanDuel’s over-the-top streaming platform FanDuel TV+.

Bettors can access coverage of international basketball from countries such as China and Turkey, as well as football from the South Korean K-League. Also available will be Professional Darts Corporation and PokerStars events.

Having launched FanDuel TV back in September 2022, executive producer and senior vice-president Kevin Grigsby believes the new channel will help with customer acquisition. Grigsby also revealed that it was looking to add the channel to more FAST providers in the near future.

“Launching FanDuel TV Extra was another important step in expanding distribution for FanDuel TV content and reaching new audiences,” Grigsby said. “Our research showed a large portion of our target audience already consume content on FAST.

“Airing over 12 hours of live sports a day that can be wagered on significantly differentiates our channel in the market and allows us to reach a new cohort of passionate sports fans and bettors.”

FanDuel looking to tap into watch-and-wager potential

A recent YouGov survey highlighted the growing role of streaming live sports in operators’ customer acquisition strategies.

Nearly tw-thirds (63%) of those surveyed outlined that the ability to live stream sports would make them either much more likely or somewhat more likely to use an operators’ app.

ESPN Bet launched in November last year, boasting the backing of Disney-owned ESPN, which is the largest US sports media brand. The ESPN+ streaming service has 25 million subscribers, and the YouGov survey found that 74% of current sports bettors were aware of the service.

As a result, the YouGov survey outlined that ESPN Bet could achieve “sustained growth” as it benefits from the appeal of watching and wagering.

FanDuel looking to build on 2023 success

FanDuel will hope its new platform can help it achieve further growth, adding to what Peter Jackson, chief executive of FanDuel’s owner Flutter Entertainment, labelled a “tremendous” performance from the operator in 2023.

Jackson’s comment came after FanDuel posted full-year positive annual adjusted EBITDA in the US for the first time in 2023. Jackson claims that FanDuel’s success has left Flutter as the market leader in the US.

Flutter’s US operations achieved a 2023 net gaming revenue market share of 53.4%, an increase on the 43.2% reported in 2022. Further adjusted EBITDA in the US stood at $167m (£133.2m/€$154.8m), a sharp increase from the $263m posted in 2022.

Betano arrives in the UK having already established its presence in Europe and Latin America. Betano’s move into the UK comes during a year in which it has become an official sponsor of the forthcoming Uefa Euro 2024 and CONMEBOL Copa America 2024.

BetVictor owner BVGroup owns licences in the UK, Republic of Ireland, Gibraltar and Ontario. It services multiple brands across sports betting, casino and bingo.

“The unveiling of Betano in the UK is the latest addition to BVGroup’s extensive track record of successful launches. This further strengthens Betano’s worldwide footprint,” the partners said in a statement.

UK customers will enjoy a full range of features, including bet boosts and the recently released Lucky Dip. BVGroup’s safer gambling tools include Sentinel, which provides automated messaging and risk assessment.

Julio Iglesias Hernando, CCO of Kaizen, said: “Finding the right partner has been a top priority for us. This is exactly what we did with the well-established and reputable BVGroup.

“As we expand our footprint globally, we’re excited to unveil the Betano brand in the UK alongside BVGroup. We are equally enthusiastic for what the future will bring.”

Betano building global presence

The UK partnership between Kaizen and BVGroup was announced in early April.

Kaizen has built a significant global presence in recent years including partnerships with multiple international leagues and European football clubs.

Kaizen’s brands – Betano and Stoiximan – operate in 14 nations. Kaizen debuted its Stoiximan brand in Greece in 2012.

Brent Almeida, CCO of BVGroup, said: “This is the latest in a long line of successful launches for BVGroup. We are confident that our technology and operating capabilities will give Betano customers a safe and entertaining gaming experience.”

Revenue for the three months to 31 March hit $63.1m (£50.4m/€58.6m). This is 2.8% lower than the $64.9m Inspired posted in Q1 of last year.

As was the case for Inspired during its 2023 full-year, the Interactive business continued to grow, with revenue up 37.3%. The provider also noted an 8.8% rise in Leisure revenue to $18.6m.

However, declines were not across both the Gaming and Virtual Sports segments. Gaming, its main source of income, reported an 11.4% drop in revenue to $24.0m, while Virtual Sports revenue was also down 16.2% to $12.4m.

Ultimately, lower revenue from the Gaming and Virtual Sports businesses offset growth in other areas, leaving Inspired with a lower total for Q1. This, coupled with higher spending, also led to an increased net loss for the period.

“Q1 results were a combination of continued outperformance in our Interactive segment, offset by the persistence of second half 2023 trends in Virtual Sports where a major customer has optimised their customer base as well as confronting an unusually challenging quarter in the Gaming segment,” Inspired executive chairman Lorne Weil said.

Digital dream for Inspired

Breaking down the Q1 results, it is easy to see where the majority of growth is at Inspired. The $8.1m generated in Interactive revenue was some way clear of $5.9m in the previous year.

This, Inspired says, is due to the growth of its existing customer base and expansion to new players in other markets.

As for its other digital business, Virtual Sports revenue fell from $14.8m to $12.4m. However, Weil is confident about long-term prospects here, referencing expanded content offerings, including the new NBA Re-Play title that launched today (10 May) with OPAP.

“As virtual sports gaming continues to grow in popularity around the world, this unique offering will continue to set Inspired apart in the growing market,” Weil said.

The ups and downs of land-based gambling

As for Inspired’s land-based operations, Q1 was very much a tale of two segments. Gaming revenue dropped from $27.1m to $24.0m, but remains the company’s main revenue source by some distance.

In contrast, revenue within the Leisure segment increased from $17.1m to $18.6m. 

Looking at land-based in general, Inspired said lower service revenue in the UK licensed betting office market and in Greece, driven by the expiry of historical amortised licensed revenue, hit operations.

However, it also said these trends are now starting to reverse heading into Q2, helped by low double-digit year-on-year revenue per machine increased with its Vantage cabinets across two of its largest UK LBO customers. In addition, higher costs in the inflationary environment are impacting operations, with Inspired taking action in Q1.

“During the quarter, we initiated a cost improvement initiative across the business,” Weil said. “We have a dedicated team working across all aspects of the business to find efficiencies to drive our adjusted EBITDA margins.”

Net loss tops $4.4m in Q1

On the subject of costs, this was also a mixed picture, with spending rising in some areas and falling in others. Cost of service and sales were both down year-on-year, but this was offset by increased selling, general and administrative spend, meaning expenses were up overall.

After also accounting for $6.5m in finance-related costs, this left Inspired with a pre-tax loss of $7.9m, compared to last year’s $1.6m. The company received $2.2m in tax benefits, but did not stop net loss widening from $1.4m to $5.7m.

Inspired also reported a $1.0m gain on foreign currency translation and a small gain on its pension plan. As such, bottom line net loss amounted to $4.4m, again wider than $3.9m in 2023.

In addition, adjusted EBITDA for the quarter slipped 18.9% from $20.1m to $16.3m.

“As we begin 2024, we remained focused on our long-term strategy to shift a greater proportion of our earnings to our aggregate digital business, which includes our Virtual Sports and Interactive segments,” Weil said.

“In the first quarter, our digital business accounted for 76% of adjusted EBITDA contribution compared to 69% in the prior year. At the same time our strategy of moving our retail business in the capital light direction is taking hold as well.”

Reason for optimism at Inspired?

Q1 also saw Inspired publish its delayed Q3 results for 2023, as well as its full-year finances.

The Q3 results had been pushed back after Inspired was contacted by Nasdaq over alleged non-compliance due to late filing. The delay was caused by Inspired investigating accounting errors relating to compliance with US GAAP, connected to accounting policies for capitalising software development costs.

Issues flagged in the review related to errors in financial statements for periods commencing 1 January 2021. Inspired committed to implement changes to remediate these weaknesses including restating financial statements for the periods of concern.

Inspired eventually had a plan to regain compliance accepted by Nasdaq, allowing it to move past the matter. 

There was a minor blip when Nasdaq contacted Inspired again last month over the late filing of its full-year results. However, Inspired allayed fears over further non-compliance issues with Nasdaq and published the figures mid-April as promised.

On the back of this, Weil again reiterated Inspired’s desire to move forward. He also spoke of his confidence about growth and new prospects for the current year.

“While Q1 had some items that worked against us, we are experiencing improving trends into the second quarter and are excited for the future, with new markets opening and new Virtual Sports products set to launch,” Weil said.

“As new markets emerge and more customers embrace these new, innovative products, opportunities for growth remain promising. We believe that our unmatched content portfolio positions us well to capitalise on the expanding online betting and gaming markets globally.”

Maryland saw sports betting revenue rise by 48.1% year-on-year to $486.3m during the month. Retail accounted for $11.3m of handle, with around 98% coming from mobile.

The US state recorded hold of 10.4%, with $435.9m paid out in prizes. This was compared to hold of 10.9% in April 2023 on $292.8m. Promo play in Maryland was up from $9.0m to $11.1m.

Taxable win was at $38.0m in April, which was up on $25.8m in the prior period. This led to a 47.1% rise in the contribution to state of $5.7m. This was the fourth-best single-month total since Maryland’s online sports betting market went live in November 2022.

Maryland’s sportsbooks have collected almost twice as much handle as at the same point last year. From July 2023 through April 2024, sports wagering was up 96.7% to $4.6bn. Prizes paid out were more than double at $4.1m compared to $2.0bn by April 2023. Handle so far this year is 10.5% compared to 13.6% last year.

Contribution to state has grown 167.8% to $47.6bn during the year to date.

MGM National Harbor fall impacts overall casino performance

The six casinos in Maryland combined to generate $163.2m in revenue from slot machines and table games during April 2024. This was a 6.6% decrease compared to April 2023.

Casino gaming contributions to the state during April 2024 totalled $69.8m, a 3.6% decrease compared to the prior period.

MGM National Harbor, the state’s biggest venue, saw gaming revenue drop 9.8% to $68.1m. Live! Casino & Hotel, the second biggest property, saw gaming revenue fall 1.9% to $60.9m.

The deal between Vasco, who play in the top-flight football league in Brazil, and Betfair, will run until 31 December 2025.

The agreement, despite being billed as the “biggest”, did not disclose the final price. It is also understood that the sponsorship could be renewed for two additional seasons.

Vasco’s men’s team will feature Betfair’s branding on their kit. Meanwhile, the women’s team will have it on the shoulderblade of their shirts. Vasco will debut the Betfair brand on its shirt in their game against Vitória in the league on 12 May.

The deal will feature extensive cooperation between Vasco and Betfair, with activities also included that will be aimed at the club’s fans. These will see the likes of regular raffles, prizes with VIP tickets and other unique experiences with the team.

Lúcio Barbosa, Vasco chief executive, labelled the deal as an “honour and an achievement”.

“There were weeks of intense work to get the best for our club with a huge and consolidated company,” Barbosa said. “We still have challenges ahead, but our commitment to working seriously and hard for Vasco continues.”

Kimberly Daly, Betfair International’s general director, added: “The partnership between Vasco and Betfair is not just a master sponsorship on the team’s shirt, it is also a strategic collaboration based on shared values, excellence and passion for football, respecting the greatness of its history, but also strengthening investment in projects within the Rio team to help develop the club’s present and future.”

Vasco looking to cash in with Betfair

After Bill 3,626/2023 was passed and signed into law in December, Brazil is currently rolling out its regulation for sports betting and igaming ahead of the market launch.

Vasco has joined Corinthians in penning a gambling sponsorship deal. In January, Corinthians announced the biggest sponsorship in Brazilian football history, with their deal with VaideBet valued at BRL370m (£59.8m/€69.4m/$75.9m).

Brazil’s regulation is being revealed in four parts. Already announced has been the banning of operators accepting credit card and cryptocurrency payments. Additionally, this week it was confirmed that players winnings above BRL2,824 would be taxed at 15%.

Still to be announced are regulations concerning advertising and requirements on igaming, as well as how socially responsible causes will benefit from industry contributions. Brazil is expecting to have its regulations fully announced by the end of July.

Match-fixing a concern in Brazil

Although there is excitement for the regulation of sports betting in Brazil, one lingering issue is the threat of match-fixing.

The topic was discussed at a newly created parliamentary inquiry commission (CPI) on sports betting that met in April. Botafogo de Futebol e Regatas owner John Textor reiterated his allegations of manipulation in a game between São Paulo and Palmeiras. Textor also stated he had a recording of a referee who had been bribed.

The Botafogo owner also referenced a number of other examples in which he believes technology hired by him had found abnormal actions.

Textor stated his belief that the police and CPI could take action. This includes players or managers found to have committed wrongdoing being banned from football in Brazil.  

Legal wagering, HHR ban bill combined in Minnesota

On Friday (10 May) Minnesota state representative Zack Stephenson combined his legal wagering and historic horse racing bills. The house ways and means committee moved the bill, now HF 5274, to the house floor. Should it pass, legal digital wagering would be allowed, but HHR machines would be prohibited.

Combining the bills does not solve any of the issues that have held up sports betting legalisation. The state’s two racetracks, who want a slice of the wagering pie, remain opposed. Meanwhile, the state’s 11 tribes won’t sign off on a bill that includes them. The legislation session is set to adjourn 20 May.

Thanks, Caitlin. WBNA handle already up

The week before the WNBA season is set to tip off, Las Vegas bookmakers are already experiencing the Caitlin Clark effect. According to the Las Vegas Review-Journal, SuperBook has posted eight Clark prop bets and has her ranked third as an MVP possibility. Clark was drafted by the Indiana Fever, which plays at Las Vegas on 2 July. That game has been moved to the T-Mobile Arena to accommodate a spike in fan interest.

“We have a lot more tickets on the title odds than we ever did at this point in prior seasons,” SuperBook oddsmaker Jeff Sherman told the Review-Journal. “We have tickets on every team. The Aces and Liberty are leading the way, but there’s a lot of interest throughout on all the teams. I can tell already that it’s got a heightened interest due to her effect.”

Previously, sportsbooks reported record handle for the NCAA women’s basketball championship and two games prior. Clark’s Iowa team lost to South Carolina in the title game.

Alabama gambling expansion hopes dead

Alabama’s legislative session closed on Thursday (9 May) night and with it the hopes for any kind of gambling expansion in the state. A house bill that started as a massive expansion that would have allowed digital and retail sports betting, 10 Class III casinos and a lottery, was stripped down in the senate. Even a conference committee couldn’t come up with a compromise to please everyone. The conference bill passed the house, but failed in the senate.

Had a bill passed, the decision to legalise would have been sent to the voters. The last time that happened was in 1999, and voters did not pass legal lottery. Additionally, Alabama is one of five states that does not have a lottery. Three of its four border states offer some form of legal wagering.

New York’s Addabbo not ready to fold ’em

New York state senator Joe Addabbo has been a gambling champion for many years. He was instrumental in the legalisation of digital sports betting. This year, he tried to drum up interest in online casino, but didn’t get any traction. But earlier this week Addabbo filed a legal online poker bill. SB 9226 would allow for 10 licences good for 10 years and costing $10m. The tax rate would be 15%. The bill is in the senate racing, gaming, and wagering committee, but no hearing date has been set.

Mass Gaming mulling new golf market

On Thursday (9 May) the Massachusetts Gaming Commission held over discussion about allowing betting on the Tomorrow Golf League. Among the founders are Tiger Woods and Rory McIlroy. The PGA Tour is a partner.

The league is set to start play in January. BetMGM asked that the market be made available for legal wagering. The MGC was stumped as to whether to consider adding TGL to its sports wagering menu or if it should fall under esports. Additionally, the agency has not yet promulgated rules for esports.

The new league will feature match play and combines some virtual play with live golf. Players will hit off natural surfaces from tee to green, but into a video screen. Once the ball is within 50 feet of the hole, players will move onto the 3,800sq ft Green Zone, a rotating green that can simulate different conditions.

NC lawmakers move to educate minors on gambling

On Monday (6 May) a North Carolina lawmaker dropped a bill that would mandate gambling education in middle and high schools. If it passes, classes about “the addictive potential”, “cost” and “consequences” of gambling addiction would be required, starting in the 2024-25 school year. The bill is assigned to the house appropriations committee.

The new bill comes shortly after house and senate bills that would ban college-player prop bets dropped. The bills would also limit in-person wagering beginning eight hours before an event starts through to its completion. In addition, it would prohibit bets at sportsbooks at or adjacent to where the game is being played.

Trackside sportsbook in the works

On Tuesday (7 May) Caesars Entertainment and New Jersey’s Monmouth Park celebrated the groundbreaking of a trackside sportsbook set to open in 2025. The 16,000sq ft space will have indoor and outdoor viewing areas, a restaurant, wall-to-wall flat-screen, televisions and 25 self-service betting kiosks.

Previously, Monmouth Park was the site of the first legal sports bet placed in New Jersey.

caesars entertainment will open its sportsbook at monmouth park in 2025. the venue will feature wall-to-wall flat-screen tvs and odds boards.

renderings courtesy of caesars entertainment

In other news…

Shohei Ohtani’s ex-interpreter hasn’t been arraigned for illegal wagering yet, but Lionsgate is planning a movie about him. According to Variety, the company is developing a TV series about Ippei Mizuhara’s betting scandal.

The Detroit Free Press reported on Tuesday (7 May) that the Lions re-signed safety CJ Moore, who was suspended for violating the NFL’s gambling policy last year. Previously, Moore was among five players who the NFL reinstated on 18 April. Moore signed a one-year deal.

The National Indian Gaming Commission has not yet replaced chairman Sequoyah Simermeyer but, on Monday (6 May), announced the reappointment of vice-chair Jeannie Hovland and the appointment of associate general counsel Sharon M Avery.

Rush Street Interactive plans to expand its offered sports betting markets after signing a deal this week with in InFront Bettor. The Swiss company will also make its extensive sports streaming and data feeds available to RSI. In addition, the company has an exclusive deal for the official data feed from umpire’s chairs for International Tennis Federation events.

The American Gaming Association announced that the PGA of America became the latest professional sports league to join the “Have a Game Plan, Bet Responsibly” campaign. The public service campaign promotes setting a budget, playing with regulated operators, keeping betting social and understanding odds.

ICYMI on iGB

NCAA proposed ban on college prop bets isn’t black and white

Ex-MGM executive Scott Sibella gets probation in money-laundering case

Former Ohtani interpreter Mizuhara to plead in illegal wagering case

Operators to DC council: We favour open, competitive market

DraftKings to acquire SportsIQ analytics

Handle is 27.3% higher than $1.54bn in April last year and 6.0% up from $1.85bn in March of this year. It is also the fifth highest monthly spend total on record in New York.

As for gross gaming revenue from sports wagering, April’s total hit $183.8m. This is 32.4% up from $138.8m in April 2023 and 21.2% ahead of March’s $151.7m haul.

The all-time monthly revenue record in New York stands at $211.5m, set in January this year. As for handle, players bet an all-time high of $2.11bn in November 2023. 

FanDuel still the one to beat

Flutter Entertainment-owned FanDuel continues to hold a healthy lead in New York. During April, the operator posted $91.0m in revenue off $780.5m, both some way clear of the chasing pack.

DraftKings remains FanDuel’s closest challenger, reporting revenue of $63.2m and a $737.0m handle. 

Caesars was some way behind in third with $10.4m in revenue from $158.8m in total bets. BetMGM followed in fourth with revenue of $9.1m and a $130.2m handle. Fanatics rounded off the top five with $5.6m in revenue from $74.1m in online wagers during April.

What about the other runners in New York?

As for the rest of the pack, Rush Street Interactive was the only other operator to post more than $1.0m in revenue. For April, revenue amounted to $3.3m after players spent $67.1m. 

Resorts World fell short of the $1.0m revenue mark, posting $616,681 from $6.6m. BallyBet followed with $580,801 from $7.7m in wagers.

Wynn Interactive was the back marker in April, posting just $85,070 in revenue off a $1.9m handle.

New York goes from strength to strength

Since New York opened its legal online sports betting market in January 2022, the state has seen impressive growth.

New York is some way clear of other, longer established regulated betting markets in other US states. These include New Jersey and Indiana, which have been open a good few years longer than New York but now flag behind in terms of both revenue and handle.

This growth also makes New York the largest contributor for sports betting tax. Earlier this year, the Quarterly Survey of State and Local Tax Revenue (QTAX), carried out by the United States Census Bureau, confirmed this.

According to the report, New York contributes over 37.0% of total tax revenue generated by sports betting in the US. 

During Q3 of 2023, sports betting accumulated national tax and gross receipts of almost $506.0m. New York contributed $188.5m to this total, nearly five times higher than Indiana’s $38.6m. 

However, it is worth noting that no state has a higher tax on gross gambling revenue than New York’s 51%.

Total handle in Indiana in April amounted to $393.9m (£314.4m/€365.7m). This is 22.6% ahead of $321.4m last year but 21.4% short of March’s $500.8m figure.

Basketball was once again the sport of choice for bettors in the state, attracting $121.5m in total wagers. Indiana is home to NBA franchise the Indiana Pacers and Indiana Fever of the WNBA, as well as a raft of college teams.

Meanwhile, players spent $67.7m betting on baseball during April and a further $2.9m on American football. Some $84.8m was bet across other sports while parlay betting totalled $116.8m.

In terms of revenue, taxable adjusted gross revenue for April hit $37.1m. This is 26.2% up from $29.4m in April 2023 but 5.8% less than $39.4m in March of this year.

Indiana does not publish a sport-by-sport breakdown for monthly revenue. However, it was revealed that total tax generated from sports betting in April totalled $3.5m.

FanDuel and Blue Chip Casino edge ahead in Indiana

Looking at licensed operators in Indiana, FanDuel and Blue Chip Casino retook the lead in April. Revenue from the partnership amounted to $15.3m after players spent $129.1m.

DraftKings and Ameristar Casino, which led the market in March, placed second with $12.6m in revenue. This is despite taking more bets – $145.7m – than FanDuel and Blue Chip Casino.

Retaining third place was Belterra Casino, which is also partnered with FanDuel. Revenue for the month hit $3.0m from $31.7m in sports wagers.

Elsewhere, Hollywood Lawrenceburg and ESPN Bet posted $2.2m in revenue from a $25.2m handle. Next was French Lick Resort and partner Bet365 on $1.7m from $23.9m.

Harrah’s Hoosier Park and Caesars rounded off the major partnerships in Indiana with $1.2m in revenue from $20.3m in bets.

Player spending in April is comfortably clear of the $172.6m wagered in Iowa in the same month last year. However, the April total fell short of March’s total spend of $272.4m and also behind the $220.6m bet in February.

Of the total wagered in April, $196.6m was bet online and $12.9m via retail sportsbooks across Iowa.

An increase in player spending helped push revenue to $16.5m. This is 17.0% more than last year but a drop of 9.3% from $18.2m in March.

Online sports betting generated $15.7m in revenue during April, while retail drew $812,305.

Total player winnings for the month reached $192.3m, including $180.9m from online and $12.1m retail. As for tax, this amounted to $1.1m.

Who is winning in Iowa?

As has been the case for some time, FanDuel and partner Diamond Jo Dubuque remain out in front in Iowa. During April, the partnership generated $5.8m in revenue from $58.3m in wagers.

DraftKings and Wild Rose Jefferson were again second with revenue of $2.3m from $34.0m. 

Sister property Wild Rose Clinton, which also partners DraftKings, followed close behind on $2.0m off $24.3m. Wild Rose Emmetsburg, the third Wild Rose property in Iowa, was next with $1.8m from $20.7m.

Other stand-out performers in April include Diamond Jo Worth which, like the Dubuque property, works with FanDuel. Revenue for the month hit $1.2m and a handle of $18.1m.

The only other property to exceed $1.0m in revenue was Ameristar II, which is working with Penn Entertainment. Revenue hit $1.1m after players spent $10.0m.

College athlete betting scandal rumbles on in Iowa

Against this backdrop, Iowa remains engulfed in a scandal over college athletes betting on sports.

The ongoing investigation related to the suspension and arrests of multiple college athletes. Earlier this month, emails released to the Associated Press shed more light on the case, including how one Iowa criminal investigator appears to have lost his moral compass.

Click here to read the latest update on the case from our US editor Jill R Dorson.