By Kathy Urban   Wed, Dec 4, 2024

The evolution of DFS and sports betting have given rise to a new wave of up-and-comers. One of the most prominent newcomers is Underdog, headed by founder and CEO Jeremy Levine (l.).

Jeremy Levine was born into a golden era of sports in Boston. During his childhood in Cambridge, just across the Charles River from Boston, he grew up on the tail end of the Celtics dynasty. But maybe more important, the legendary Red Auerbach was very much still part of the Boston sports landscape.

In 1986, the Celtics won their third NBA title of the Larry Bird era, probably with one of the team’s greatest lineups of all time. Led by Auerbach, the Celtics were a dynasty that won 16 titles when he was a head coach, general manager or team president. Auerbach’s leadership style was based on team culture focused around teamwork and discipline. He had an eye for talent as well – 10 players from Aurerbach’s teams are hall of famers.

Levine, an energetic, 38-year-old serial entrepreneur and leader of Underdog, brings a passion for people to the office every day. It’s not an in-your-face quality, but more the undying belief in doing things the right way. Underdog, a daily fantasy sports platform that offers a variety of betting games, including Pick’em, Best Ball, and Battle Royale, was valued at $484 million in 2022.

As of October 2024, the company had more than 2.4 million active users, with most of the growth coming in states without sports betting like California and Texas.

The site, launched in 2020, has a wide range of investors, including former Dallas Mavericks owner Mark Cuban, Phoenix Suns forward Kevin Durant and Detroit Lions quarterback Jared Goff. The site and app are currently live in 41 states. Underdog Sports, the company’s wagering offering, is live in North Carolina and is licensed, but not live, in Ohio.

People and product are the mantra

For Levine, one of three founders of the site, Underdog is about more than creating a place where fans can place bets or participate in fantasy sports. It’s the focus of a continuous evolution, a learning process to be the best leader he can be.

“My company is probably very sick of me saying this, because I try to say it over and over again, but the two things we focus on are people and product,” he says.

“That’s where I try to spend as much of my time. I view my job as being the lead recruiter for the company. It’s my job to make sure we always have the best people at the company. … I think the thing I’m most proud of recently is the list of people who have chosen to join Underdog. It’s a lot of people with a lot of knowledge and experience in this space who really know the landscape and are making very educated decisions to join the company.”

In recent years, Levine has recruited engineers from DraftKings, executives from FanDuel, and the COO of PointsBet North America. “Universally, I’ve probably had 30 of these recruiting calls over the last nine months where it’s someone ready to make that decision (to join Underdog), and I’m that final call, and all but one of them have chosen to come to Underdog,” he says.

Evolving as a Leader

While many CEOs in the tech, iGaming or gambling spheres have profits and scalability at top of mind, Levine said he has another focus: People and product. In that order.

“I think one of Jeremy’s superpowers is that he identifies people’s strengths and weaknesses really well,” says Peter Jennings, a friend and co-founder of The Solver and board member of Unabated Sports. “I think as an entrepreneur he has this relentless optimism. And I think he inspires people to execute on their superpower, to go after the grand vision that he has. I think that just resonates, and people love being around him.”

One of the people who made that decision is Stacie Stern. Stern, the senior vice president of government affairs and partnerships at Underdog, first met Levine when he was fresh out of college and attended an industry association event in 2012.

“He was this young, vibrant, energetic, kind of whiz kid who had an idea for a fantasy game that was a stock market of sports,” Stern says. “This was really in the infancy of the daily fantasy sports boom, when FanDuel and DraftKings were kind of getting their feet wet.

“What struck me from that very first time I met him was how driven and energetic he was. You could just tell. One of my best friends in the industry, who’s been around since the inception of this association, said ‘Man, there was something special about Jeremy.’ There was something unique about Jeremy.”

Stern says they talked about his idea for what became StarStreet, but came away more impressed with the energy Levine brought to the discussion and the way he went about meeting people and listening to their advice.

“He was maybe 22 years old, but I was really impressed with his ability to listen and ask questions instead of coming in and acting like, ‘Oh, I’ve got the next big thing. And let me tell you how smart I am and how great I am,’ which we saw a lot of in the 2012 to 2014 daily fantasy sports boom,” she says.

Failure an Opportunity to Learn and Improve

Levine’s focus on soaking up information and using that to the best of his ability comes naturally. His parents modeled it for him at an early age. An only child, Levine saw first hand how passion for work can merge with the personal.

“My dad is still a criminal defense attorney. He just loves to work,” Levine says. “He refuses to retire. I remember when we were on a family vacation and he’s got the yellow legal pad out, sitting on the Spanish Steps in Rome, writing all day. He just loves to work in the same way.”

While it is fun when you are winning, it isn’t all sunshine and kittens for Levine. There have been failures as well. That first entry into the field, StarStreet, didn’t survive. But that failure was also a learning experience.

“I certainly learned by doing,” Levine said. “I don’t have any classical training on any of the things I do, but you just try to learn.”

Call Him ‘Unpredictably Rational’

But much like how Auerbach wasn’t born a great coach or manager, Levine learned by observing and listening to others. Described by a friend as “unpredictably rational,” Levine, like Auerbach, is a motivator in addition to having a bright business mind.

“I was perfectly happy at FanDuel when Jeremy approached me,” Stern says. “’I want you to come in and build out a government affairs department and work with me. I want to work with you,’ he said to me.

“But as I had watched him grow, I thought, ‘He’s doing things the right way. He treats people well, and I think he could be on to something.’”

That growth and care for people has earned Levine and Underdog recognition in the business community. LinkedIn named Underdog its No. 15 top startup emerging companies recently, citing the investment in GuardDog, the fund designed to support and scale innovation in responsible gaming.

And for the second year in a row, Goldman Sachs recognized Levine as one of the Most Exceptional Entrepreneurs of 2024 at its Builders and Innovators Summit in October.

Building relationships a successful model

The accolades are nice, but more like icing on the cake. Levine’s goal is to recruit talented people and then play to their strengths.

“I think the thing I’m proudest of recently is to look at the list of people who have chosen to join Underdog, and it’s a lot of people with a lot of knowledge and a lot of experience in this space who really know the landscape and are making very educated decisions,” he says.

“I’ve always stayed true to myself and always put people first. We don’t believe in non-compete (deals) at the company. It’s a company’s responsibility to be the best place for an individual, and if it’s not the best place for them, they shouldn’t be here, right?

“That’s something where just continuing to treat people the right way, like with Underdog, how much that’s paid us back, where people have trust and have faith. It’s part of the reason we’re able to get so many people from all these companies, because I’ve spent 15 years now building these relationships.”

By Ira David Sternberg   Tue, Dec 3, 2024

Modern design isn't as unique and kooky as some of the themed resorts of years past. But if sameness is the goal, shouldn't Las Vegas establish an HOA for that purpose? Ira David Sternberg (l.) explores that reality.

The idea of themed resorts in Las Vegas is not new. It began in the 1940s and 1950s, and the trend continued to grow into the ‘80s and ‘90s. Now—with some exceptions—new properties, while shiny and alluring, tend to blend together along the Las Vegas Strip.

That sameness reminded me of residential communities in Las Vegas, such as Summerlin and Green Valley, that have a unifying look actively policed by local Homeowners Associations (HOAs).  But what if that became the new trend for resorts in Las Vegas? What if all the hotels and casinos were governed by something similar to an HOA? What would the Vegas Resort Owners Association (VROA) look like?

Let’s take a look at that Vegas future:

• If the Flamingo Hotel decided to create a new facade on the Strip honoring Bugsy Siegel, they would have to apply to the VROA for permission to do so. The application would surely be turned down citing some regulation against visual homage to a gangster (perhaps best left to the Mob Museum). 
• The never-ending VROA dues. Each time dues are raised (and they will be), resort fees would be increased to cover the difference. Of course, the customer would bear the burden and suffer the additional cost.
• In a first for Las Vegas, the VROA would have more power than gaming regulators. Sure, the Nevada Gaming Control Board and the Nevada Gaming Commission can investigate a casino and make them follow the law or lose their license, but only the VROA could make them cut their grass, trim their trees and shrubs, or neatly restripe the parking garages.
• Las Vegas is known for 24-hour entertainment. But could you imagine a situation where one property’s nightclub scene is challenged with a noise complaint by another resort? Welcome to VROA hell!
• If hotels are not keeping up their front facades, they would get cited by the VROA. Even if they wanted to be proactive and repaint, they would have to get approval for their paint pallet. After all, casino exteriors would have to conform to the same “sameness.”
• While casinos still would be allowed to charge for parking, VROA board regulations would prohibit parking more than 24 hours in one spot: “Deal me out, I have to move my car.”

If the VROA influence continues to expand, I can only foresee one future for Las Vegas: 

“Welcome to Las Vegas – Please insert key card to open gate!”

By Frank Fantini   Mon, Dec 2, 2024

Of all our wishes for this holiday season, some help in understanding the potentially murky future of U.S. iGaming is perhaps the biggest.

As we start thinking about what the New Year will bring, we have one item high on our wish list: that some clarity be brought to the future of online gaming and its impact on the brick-and-mortar segment of the gaming industry.

Right now, online sports betting and iGaming are subject to a variety of cross currents. There is the threat – actually likelihood – that governments will crack down in various ways. We see that happening internationally, and suspect the U.S. is to follow. 

As examples, the United Kingdom is about to levy a tax of 0.1 to 1.1 percent of gaming revenues to support programs intended to mitigate gambling harms on susceptible individuals. That is on top of the current 21 percent revenue tax. Further, online wagers may be capped at £2 for persons 18 to 24 years of age and £5 for those older.

In Australia, the government of New South Wales is slashing allowed daily losses by 90 percent to US$323. Victoria may follow with a US$64 funding limit.

These are among many efforts in many nations to limit online gambling losses. And, what happens in one nation will happen in others as legislators look for ways to rein in iGaming. Another example of legislators and regulators copying counterparts is in restrictions on sports betting advertising that are popping up throughout the world.

We’ve already seen numerous proposals in various states in the U.S. to implement these kinds of controls. Obviously, these types of restrictions widely adopted would have a negative impact on some companies, especially those that have been in the business for a while and have business models and profit expectations based on earlier tax and regulatory regimes.

Of course, there’s a more positive reason from the industry’s perspective for why legislators and regulators want to contain iGaming – it’s growing rapidly.

The poster child in the U.S. for growth is New Jersey. Its brick-and-mortar casino industry is well established and well known, but it also has recently been surpassed in gaming revenues by iGaming and online sports betting.

New Jersey is not alone. Online gaming revenues are growing by double-digits throughout the country; and while 2024 disappointed many industry advocates because of the dearth of new jurisdictions that have come online, you can bet more will open in the next several years. In short, iGaming is a rapidly growing industry.

Of course, growth in revenues doesn’t automatically mean growth in profits. As we’ve seen, despite their promises to rein in player acquisition costs (which they euphemistically call reinvestment) most operators continue to throw money into marketing. Deutsche Bank analyst Carlo Santarelli recently reported that in five major iGaming states, promotional costs chewed up 36.2 percent of gross gaming revenues in October. That’s not much of an improvement on last year’s 36.8 percent.

Caesars CEO Tom Reeg has likened this era of iGaming to the early years of riverboat gambling. That sounds like a good analogy. As then, there were numerous operators with siren-call investment theses, but eventually, only a few survived and prospered. But those few made a lot of money for investors.

In the coming weeks and months, we’ll look at individual companies that we think will be this era’s prosperous survivors. 

By Cole Rush   Mon, Nov 25, 2024

The data specialists at Sportradar announced last week that they are rolling out new micro markets to provide "a dynamic and fast-paced betting experience across major sports."

Sportradar, a sports technology company that develops products for the sports media and betting industries, unveiled micro markets Nov. 20. These bite-sized and quick-fire betting options amplify the in-play betting experience by allowing bettors to engage with small outcomes within a given game or match. 

Micro markets offer fast-settling wager opportunities. A typical micro market settles in five minutes or fewer. Sportradar’s micro market offerings include ATP Tennis, NBA, MLB, NFL, NHL, and soccer.

“Micro markets appeal to the next generation of bettors,” said Sophie Thomas, vice president of group operations at Sportradar. “They can attract bettors who don’t have the attention span for a whole game and prefer to watch sport in a non-linear fashion, and they offer opportunities to instantly get in on the action. The only caveat is that these markets move quickly, so operators need AI-driven solutions backed by a large amount of real-time data and analytics from said match or game to prevent being exposed – something that Sportradar excels in due to our partnerships with leagues and federations around the world and our proprietary AI-driven odds models. Our innovation paired with a personalized user experience and immersive visualizations, is what makes Sportradar an invaluable technology and solutions partner for leading operators.”

Microbets can include outcomes like “Scoring Type, Home Run, Total Yards Gained, Next Ace” and more, according to a Sportradar press release. A football game, for example, might include such micromarkets as:

• – Total yards gained
• – Offensive play type
• – New first down
• – Play completion
• – Sack

A bettor could peruse the markets in real-time and select whether they believe their team will snag a first down, perhaps, or bet that the opposing team will sack the quarterback. These markets are fresh every minute or so, and they involve second-by-second events within a game. 

Micro markets expand engagement

Sportradar says micro markets can enhance bettor engagement by keeping them invested throughout a given game or match. Further, micro markets drastically expand the number of bets a sportsbook can offer. The company’s customers can easily integrate micro markets through Sportradar’s existing Unified Odds Feed. 

Micro market highlights from Sportradar’s product overview include:

• – Significant increase in live betting opportunities. 
• – Casino-style betting, which allows for quicker settlement and higher bet frequency/turnover. 
• – New bet cycles are available every minute, keeping players invested. 
• – Micro markets work on desktop and mobile devices.

Sportradar already offers ATP microbetting, and other sports will roll out in late 2024 and early 2025, according to the company. Baseball and basketball are both slated for the first quarter of 2025, and Sportradar is aiming to launch its football in the second quarter. Hockey will follow in the second half of the year.

  Fri, Nov 22, 2024

In his last official address, Macau Chief Executive Ho Iat Seng (l.) said efforts to diversify the economy beyond gaming are working. Covid-19 accelerated the shift.

On Nov. 19, in his final address as Macau chief executive, Ho Iat Seng said the city’s economy “is steadily recovering” in the aftermath of Covid-19, with a healthy balance of gaming and non-gaming industries, according to Macao News.

Ho championed a “1+4” strategy for economic development—emphasizing tourism while building healthcare, finance, technology and special events. The government’s goal, he said, is not to “to compress the gaming industry; rather, we’re trying to grow the pie” by expanding other sectors.

Ho took office in August 2019, mere months before the onset of Covid. The Chinese special administrative region (SAR) closed to travel for almost three years, and didn’t fully reopen until January 2023. Tourism plummeted along with gross gaming revenue.

The ”4+1” approach will reduce the city’s dependence on a single industry. Pre-pandemic, gaming contributed more than half of Macau’s gross domestic product and generated 80 percent of local tax revenue. This year, Ho predicted, GGR will contribute 40 percent of GDP, with other industries contributing 60 percent.

Ho said it was “a great honor” to serve as chief executive during one of Macau’s most challenging periods. He will hand the reins to former judge Sam Hou Fai in December.

  Fri, Nov 22, 2024

The Poarch Band of Creek Indians have purchased Birmingham Race Course through its Wind Creek Hospitality business arm. The deal could prove more significant depending on how expansion efforts unfold in Alabama’s upcoming legislative session.

Wind Creek Hospitality, the business arm of the Poarch Band of Creek Indians, Nov. 18 purchased Alabama’s Birmingham Race Course, according to AL.com. Terms of the deal were not disclosed.

In a Wind Creek Press release, the tribe wrote that it plans to turn the track “into a premier entertainment destination in the Southeast and will continue to offer parimutuel and historical horse racing games currently in operation.” The tribe already owns and operates four casinos on native land in Alabama.

The track, which opened in 1987, hosted horse racing until 1995. It also started offering dog racing in 1992, which turned out to be a boon for the track. But in 2020, the track quit on dog racing, as well, amid Covid-19 shutdowns. There are only two dog tracks remaining in the U.S., both in West Virginia. Dog racing is still legal in Alabama, though no tracks offer it.

The sale of the track is one more wrinkle as Alabama lawmakers prepare to introduce sweeping gambling legislation in 2025 for the second consecutive year. According to CBS 42, both the Senate and House bill sponsors say they will bring bills during the session, but have not revealed details.

  Fri, Nov 22, 2024

AGA touts Q3 growth, debate continues over Cedar Rapids casino proposal, Bally’s-Queen merger approved by shareholders and more.

AGA: Q3 15th Consecutive Growth Quarter

U.S. commercial gaming revenue reached $17.71 billion in Q3 2024, the industry’s highest-grossing Q3 on record, according to the American Gaming Association’s (AGA) Commercial Gaming Revenue Tracker. This makes Q3 2024 the industry’s 15th consecutive quarter of annual revenue growth, with September marking the 43rd straight month of rising year-over-year commercial gaming revenue.

Through the first nine months of the year, nationwide commercial gaming revenue stands at $53.24 billion, pacing 8 percent ahead of 2023 and putting the industry on track for a fourth straight record revenue year.

In Q3 2024, 29 of the 35 commercial gaming jurisdictions operational last year saw increased year-over-year revenue. This growth resulted in an 8.9 percent year-over-year increase in state and local taxes tied directly to gaming revenue, with commercial gaming operators contributing $3.79 billion in taxes across the quarter.

IRGC Solicits Feedback on Cedar Rapids Casino Proposal

The Iowa Racing and Gaming Commission (IRGC) held a public comment meeting in Cedar Rapids Nov. 20 to get more feedback on the proposed $275 million Cedar Crossing casino project from Peninsula Pacific Entertainment and the Linn County Gaming Association.

Among the biggest supporters of the project is Cedar Rapids Mayor Tiffany O’Donnell, who, according to Iowa Capital Dispatch, told the commission, “I get to be the voice of the people who aren’t in this room, here to tell you that we want this. And all we’re asking for from you is an opportunity and a fair shake. Because what’s happening on the outside, it’s not us.”

Among those opposed were representatives from a local group known as Iowans for Common Sense, which has come out against the casino. The group argues that the state does not need any more gaming licenses, an argument that has also been championed by existing casinos.

A two-year moratorium on licenses expired earlier this year, but there has been much speculation that lawmakers will move to enact a new moratorium in the next session. That has created a window for the Cedar Crossing proposal, which has been in the works for several years. The IRGC is set to vote on the proposal on Feb. 6.

Las Vegas Casino, NBA Arena Project Receives OK from FAA

The proposal from Las Vegas developer LVVP to build an expansive development featuring a casino-resort and NBA-ready arena has received the green light from the Federal Aviation Administration (FAA). The approval was significant for the project because one of the structures is 752 feet tall, which would make it the tallest in Las Vegas.

According to the Las Vegas Review-Journal, the proposal can now be heard by the Clark County Commission, and is expected to be discussed at the commission’s Dec. 4 meeting. The proposal was first approved by the Winchester Town Advisory Board Nov. 12.

In addition to a casino, the development features a 2,605-unit hotel and condominium complex and an 18,000-seat arena built to NBA specifications. Las Vegas has long been circled as an expansion candidate for the league but there are not currently any league-ready arenas. Should the CCC approve the proposal, LVXP can then pursue financing possibilities.

Bally’s Shareholders Approve Queen Merger

Bally’s Corp. announced Nov. 19 that its shareholders have voted to approve the previously announced merger with Queen Casino & Entertainment (QCE), a regional operator owned by hedge fund Standard General (SG).

Earlier this year, SG–which is headed by Bally’s Chairman Soo Kim—completed its quest to buy out Bally’s at $18.25 per share, which represented a heavy discount from its previous offer of $38 per share in early 2022. As part of the buyout, Bally’s was expected to merge with QCE, thereby combining the companies’ portfolios to a total of 19 casinos in 11 states.

The new company will remain publicly listed. Bally’s said in its release that shareholders who elected to rollover their existing shares will see them trade under the ticker symbol BALY.T until the completion of the merger. After that, they will return to the usual symbol, BALY. The merger is expected to close in the first half of next year.

Full House’s Proposed New Haven Casino Facing Pushback

Full House Resorts is proposing to relocate its Rising Star Casino in Rising Sun, Ind. to New Haven. But in order to do so, it must secure approval from the state legislature, and a recent town hall meeting did not seem to garner much favor for the proposal.

WANE reported Nov. 18 that three officials—Rep. Dave Heine,Sen. Tyler Johnson and Sen. Liz Brown—all opposed the project at the meeting.

“I don’t give a flying fig what unicorns and rainbows they’re promising,” Brown said, per WANE. “I don’t think the amount of money they’re promising is worth it to this community.” The bill allowing the move will need to be authored by a lawmaker who doesn’t live in the district, which Heine said he’s never seen before.

Silver Sevens Nixes Continental Rebrand, For Now

The Nevada Independent reported Nov. 20 that Affinity Interactive, owners of the off-Strip Silver Sevens casino in Las Vegas, has decided not to return the property to its original Continental brand as previously announced. Silver Sevens operated as the Continental from its opening 1980 through 1999, and assumed its current name in 2013.

“We have a great product that we’ve invested in over time,” Affinity CEO Scott Butera told the Independent. “The Continental approach is very appealing. But in considering the idea, we want to make sure we’re doing it correctly.”

Alabama Lawmakers Say Gambling Legislation Will Return in 2025

After a mighty effort to expand gambling in Alabama earlier this year fell short by a single vote in the state Senate, lawmakers say that more gambling legislation will be introduced next year. Sen. Greg Albritton, who originally sponsored a comprehensive bill in the Senate but later voted against it, told WIAT Nov. 19 that the prevalence of the black market makes it so that “the only thing we can do in Alabama is try to grasp control of that industry so we can protect the public and be a beneficiary of it.”

Rep. Sam Jones, who sponsored the bill in the House, lamented the fact that state voters “never got an opportunity to vote on it. Really, never got an opportunity to digest it.” Jones also referenced the fact that the Poarch Band of Creek Indians will be a key voice in any discussions regarding gambling expansion.

“I think that those discussions can continue. I don’t see any reasons why they shouldn’t continue,” Jones told WIAT. “Since they’re already in the business here in the state.” Rep. Andy Whitt, another sponsor from last session, said that he expects several gambling bills to be introduced even though he personally is not working on any.

Reno’s J Resort Announces $130 Million in New Upgrades

The J Resort in Reno, Nev., formerly the Sands Regency, has announced $130 million worth of new developments, including a 10-acre festival grounds and a slew of other upgrades such as expanded gaming, parking, a new dining option, two banquet halls, a display exhibit with European sports cars, a 20-foot sculpture commissioned from Italy and more.

Operator Jacobs Entertainment reopened the casino last year after spending $300 million to renovate and rebrand the property. The company has also purchased a slew of other nearby real estate holdings, and Jacobs CEO Jeff Jacobs has previously pledged to invest $1 billion in the area.

“We have over $400 million currently invested in downtown Reno,” Jacobs told the Reno Gazette Journal Nov. 20. “With the additional $130 million to be spent, we will have invested close to $550 million.”

CEASE Holds NJ Anti-Smoking Rally

Casino Employees Against Smoking Effects (CEASE) gathered outside the New Jersey League of Municipalities conference Nov.  21 to urge Governor Phil Murphy and New Jersey lawmakers to end the casino exemption to the state’s indoor smoking ban.

The protest took place on the last day of the New Jersey League of Municipalities conference, where Murphy addressed local government officials gathered to discuss how to improve the quality of life for their residents. Despite repeatedly saying he will sign a bill if it reaches his desk, Murphy has done nothing to push for bipartisan legislation closing the casino smoking loophole.

“Casino workers in New Jersey have had to choose between their health and their paychecks for almost two decades,” said Pete Naccarelli, co-founder of CEASE and longtime table games dealer. “Municipal leaders and Governor Murphy are here in Atlantic City to talk about ways to make life better for New Jerseyans while they ignore a simple fix that would improve quality of life for the workers who drive the state’s economy forward. It’s time to end this hypocrisy and give casino workers in New Jersey the same health and safety protections as nearly every other New Jersey worker. It’s long past time to close the casino smoking loophole.”

Caesars Launches Horseshoe Online in NJ

Caesars Entertainment officially launched its newest proprietary iGaming platform, Horseshoe Online Casino, in New Jersey this week. The launch in New Jersey marks the fifth North American jurisdiction where Horseshoe Online Casino is now available, joining Michigan, Pennsylvania, West Virginia and Ontario.

Horseshoe Online Casino debuted in Michigan at the start of October and has extended Caesars’ multi-brand strategy for iGaming, the renowned Horseshoe brand joining Caesars Palace Online Casino and more in Michigan, Pennsylvania, West Virginia, Ontario, and New Jersey.

“The Horseshoe brand is anchored by a promise to put the player first,” said Matt Sunderland, senior vice president and chief iGaming officer at Caesars Digital. “A brand with such a storied past deserves an online equivalent that pays respect to the legacy it has established in gaming, and that is what we’ve created with Horseshoe Online Casino.”

Five Plead Guilty in Illegal Michigan Casino Sting

The Michigan Gaming Control Board (MGCB) announced Nov. 18 that five individuals had pleaded guilty in connection to running an illegal storefront casino in Flint. The venue, named Hot Spot Skill Arcade, had 41 gaming stations on which patrons could wager and win points that were then redeemable for Visa gift cards. Two of the individuals pleaded guilty to felony counts of conducting a gambling operation without a license, and the other three pleaded guilty to misdemeanor counts of maintaining a gambling house for gain.

  Fri, Nov 22, 2024

Flutter shuffles its international divisions, Spanish regulator doles out $65+ million in fines, questions still lingering about Irish gambling bill and more.

Flutter Consolidates International Business, Reveals New UK&I CEO

Flutter Entertainment on Nov. 18 announced details of a streamlined, two-divisional restructure to support its future growth plans, with existing international CEO Dan Taylor to lead the enlarged international business and PokerStars chief Kevin Harrington appointed as U.K. & Ireland (UKI) CEO.

The consolidated Flutter international business will now consist of five regions, including the UKI, Asia-Pacific (APAC), Southern Europe & Africa (SEA), Central & Eastern Europe (CEE) and Brazil.

Harrington is replacing Ian Brown, who is stepping down as CEO of Flutter UKI after over two years in the position. During this time, he oversaw the Sky Betting & Gaming, Paddy Power, Betfair, Tombola and PokerStars brands.

The U.S. FanDuel business, however, will remain as is with Amy Howe at the helm. Taylor will oversee the enlarged international business. He has been the Flutter International chief executive since July 2020.

Spain issues Nearly €65.4 Million In Fines To Online Gambling Sector In H1

In H1 2024 Spain’s ministry for consumer affairs dished out close to €65.4 million (US$68.5 million) in fines for non-compliance with online gambling laws, it noted in a Nov.  18 statement.

The ministry flagged 13 unlicensed online gambling operators for “very serious infringements” of Spain’s gambling laws. Interactive Pro, Stars Cream, Loveca Sino, Rougeca Sino, Mountberg, Alimanieri, Goldenpharaoh, Goldenlion, Golden Genie, Bigwins Games Tech, Games & More, Gladiator Holding and R.Bostock Enterprises were each ordered to pay a €5 million fine.

Codere Online, which has a license in Spain, was also among those fined by gambling regulator the Directorate General for the Regulation of Gambling (DGOJ). On April 25 the DGOJ sent a letter to the operator, flagging a Facebook ad it believed appealed to minors.

As this was in breach of the country’s gambling marketing regulations, the operator was ordered to pay a €162,500 fine. A €225,000 fine was handed to another licensee Electraworks for missing the deadlines set by the DGOJ for submitting technical requirement reports.

Ireland’s Gambling Bill: The Burning Questions

Various questions about Ireland’s new-look gambling regulation remain unanswered since the legislation’s passing on Oct. 16. It lays the foundation for a highly regulated industry overseen by a new regulator and enhanced player protections. But the bill made no mention of what the tax rate might look like, or whether it will even change from the current remote betting duty, which is a 2 percent turnover tax.

Some industry stakeholders believe the sector will push back on the legislation. Gaming lawyer Carlo Salizzo of Dublin-based firm Matheson LLP says the sector could file a constitutional challenge to the legislation.

“I think given the way the bill is drafted it’s more likely the industry would be looking to challenge it rather than lobby groups that might try to make it stricter,” he said.

There is also uncertainty about what the makeup of the regulator will look like. The Gambling Regulatory Authority of Ireland (GRAI) is in the process of hiring for various roles including on its board, and Salizzo believes it could struggle to fill these roles due to a lack of experienced candidates.

LiveScore Group Restructuring to Impact More Than 100 Roles

LiveScore Group announced an internal restructuring process Nov.  19 that it expects to impact more than 100 roles across the business.

Exact details of the restructuring are not clear, although LiveScore said it would affect positions across multiple offices, including London. The process will support its wider and ongoing “sustainable growth strategy,” the operator said.

LiveScore said the changes are a “difficult yet important step,” with streamlining to create improved structures. This, it added, will allow for a pathway to long-term sustainable growth.

Commenting on the restructuring, LiveScore CEO Sam Sadi said he is “saddened” the group is taking such action. He added, however, that it would support the business in the long term.

U.K. High Court Dismisses £1.48 Million Player Losses Case Against Betfair

A U.K. High Court judge Nov.  14 rejected a case brought by a player seeking to recover £1.48 million (US$1.86 million) in losses made on the Betfair Exchange between 2009 and 2019.

The case against Betfair was heard in London’s Royal Courts of Justice between July 1-12, during which claimant Lee Gibson accused Flutter’s Betfair arm of failing their duty of care to him, although he didn’t tell them he was suffering with a gambling addiction.

But court filings noted that Betfair did not owe Gibson a duty of care as they had no indication that he needed one.

“[By law] a person does not owe a common law duty of care to prevent others suffering harm as a result of their own acts,” the ruling said.

He also made the claim that Betfair was operating unlawfully and in breach of its license and so each individual bet he placed should have been voided. Gibson was deemed an unreliable witness, and the case was dismissed.

  Fri, Nov 22, 2024

Chris Christie makes bold predictions, Missouri sports betting vote tally shows even smaller margin, Intralot under fire in D.C. and more.

Chris Christie is Out of Touch

The New Jersey ex-governor spouted off about chances of legalization in Texas and California last week. But according to iGB, he’s way off the mark.

In an interview with Covers about the state of legal gambling in the US last week, the former New Jersey governor revealed that he is out of touch. Though he and his administration spearheaded the lawsuit that resulted in legal sports betting across the US, Christie would be wise to speak of what he knows.

Or as gaming consultant Brendan Bussmann said, “Texas and California are beasts unto their own and have their own political dynamics, which make them their own markets. This isn’t waving pixie dust on everything and making sports betting happen like one former governor seems to think.”

So, to get to the comments in question. Asked about the status of wagering legalization in California, Christie told Covers, “I don’t know about California. This really takes gubernatorial leadership, and Gavin Newsom has got to decide if this is one of the issues he wants to lead on.

“Without gubernatorial leadership, the legislature won’t do it because they’re pulled, like taffy, in too many directions by too many different interests. Without the governor pushing for it, I don’t think it’ll happen.”

If Christie had been paying attention, he’d know that gubernatorial leadership is definitely not critical for this issue in California. In fact, neither is the state legislature. Tribes have said they want to keep all lines of communication open and relationships healthy. State lawmakers won’t be the final arbiters of a gambling expansion. Tribes will be.

And in Texas, Lt. Governor Dan Patrick is staunchly opposed to a gambling expansion. He’s also staunchly opposed to allowing the senate to consider — never mind pass — anything without a Republican majority.

“They say, ‘Oh, we almost passed it last session.’ You know, they almost passed it with every Democrat voting for it and about one of four Republicans voting for it,” Patrick said on a WFAA podcast. “We don’t do that in the senate… If I don’t have 15 or 16 Republicans out of my 19 or 20, then we’re not passing the bill out.

“The difference between the senate and the house is we don’t let the Democrats run the senate. We know how to work across the aisle without ceding power to the other side to let them run the senate like Dave lets Democrats run the house. We’re a Republican state.”

Despite that, Christie told Covers, “I think (legalization will) happen in Texas in the next legislative session.”

Passage of Missouri’s Amendment Could Be Contested, But Likely Won’t Be

Missouri’s Christian County Nov. 19 added 9,800 votes to the state’s total on Amendment 2, the legal sports betting initiative, likely narrowing the margin of victory from the thousands to the hundreds. Of the late votes the county submitted, 30,320 ballots were “no” votes and 19,955 were “yes.” Those votes don’t appear to have been added to the Secretary of State’s official count, though it also doesn’t appear that the votes would change the result.

The differential is well below the one-half of one percent threshold in which the “loser” could call for a recount. But it seems unlikely that the opposition campaign run by Caesars Entertainment would request a recount.

Land-based casino companies in Missouri didn’t support the initiative. Caesars was the only one to mount an opposition campaign, which is funded with $14 million. But in mid-October, likely after the Missouri Gaming Commission (MGC)  shared its interpretation of the initiative, the campaign pulled back on advertising.

In late October, the MGC confirmed with iGB that it interprets the language of the new law to mean that every casino location would get a digital skin for sports betting. Stakeholders previously believed that the casinos would get one skin per company. For Caesars and Penn Entertainment, both of which operate three casinos, the interpretation means they can each apply for up to three skins vs. one.

Intralot Under Investigation in D.C.

Intralot’s Washington, D.C. lottery and sports betting contract is the subject of a new investigation from the District’s attorney general’s office, reports iGB.

Axios cited anonymous sources Nov. 18 saying that attorney general Brian Schwalb’s office requested more information related to the contract last summer. It is unclear if the investigation centers around Intralot specifically or a subcontractor. Schwalb’s office does have the power to bring civil lawsuits against companies if applicable. But the exact motive of the investigation and timeline are unclear.

Greek-based Intralot has run the DC Lottery since 2009. In 2019 it was also awarded a controversial $215 million, no-bid contract to run online sports betting as well. The platform it rolled out, GambetDC, never lived up to expectations. The app performed extremely poorly, both in terms of usability and revenue projections.

ROGA Opens RFP for Data Clearinghouse Technology Provider

The Responsible Online Gambling Association (ROGA) Nov. 19 announced that it is building an interested parties list for an upcoming request for proposal (RFP). The group will be searching for a technology company to run its data clearinghouse, which initially, it hopes, will power a national voluntary exclusion list available to all.

Bally’s, Bet365, BetMGM, DraftKings, Fanatics Sportsbook, FanDuel, Hard Rock Digital and Penn Entertainment are members. When the new nationwide self-exclusion list is live, ROGA members will share it within their group, meaning that if a player self excludes in Florida on Hard Rock Bet, then the player would also be self excluded on Fanatics Sportsbook in New York.

Companies interested in the bid process must sign and return a non-disclosure statement by Nov. 25.

October Revenue Reports Mixed

Operators in Illinois had a record September, reporting $136.4 million in revenue, the highest since digital sports betting went live in June 2020. The revenue record was set just three months into a revised tax structure that taxes operators on a sliding scale from 20 percent-40 percent, depending on volume. Prior to July, the tax was 15 percent of gross gaming revenue.

Bettors in Wyoming laid down a record $24.5 million in wagers in October, according to the Wyoming Gaming Commission’s October 2024 report, but gross gaming revenue (GGR) was $1.9 million and adjusted gross revenue (AGR) was $878,128. Those numbers are down significantly year-over-year and month-over-month. The drop in AGR is likely due to promotional write-offs. BetMGM showed a loss of $78,004 in AGR while DraftKings took more than $1 million in bets, but had AGR of $466,963.

During the first October in which Washington, D.C. bettors had access to multiple sports betting platforms, the DC Lottery reported a record $65.8 million in handle, but month-over-month decline in GGR with operators taking in a combined $6.6 million. The revenue decline can be attributed in part to low hold of 2.35percent for Caesars Sportsbook. October was the first full live month for Fanatics Sportsbook, which took $2.2 million in bets.

Fanatics Opens 11th Connecticut Sportsbook

Through its partnership with the Connecticut Lottery, Fanatics Sportsbook Nov. 19 opened its 11th sportsbook in the state. The standalone sportsbook in Norwalk has teller windows, eight wagering kiosks and HD TVs throughout. The book at Sportech’s Winners location.

Fanatics Sportsbook is the Connecticut Lottery’s exclusive sports betting vendor, and the company is one of only three that are live in the state. DraftKings and FanDuel each have partnerships with tribes.

In Other News …

The Massachusetts Gaming Commission continued an adjudicatory hearing around DraftKings allowing consumers to fund accounts with credit cards, which is not legal in the state. The hearing went for seven hours. The issue occurred at least twice, and commissioners Nov. 20 were clearly exasperated at the company’s inability to quickly correct the problem. The commission will issue its ruling, which will likely include a fine, sometime in the future.

Delaware North revealed Nov. 19 that it has partnered with Playtech to operate its Betly Sportsbooks, starting with the Ohio platform, which replaces MVGBet. The company will migrate other platforms in the future.

Caesars Sportsbook has placed 48 kiosks at small businesses around Washington, D.C., the company announced Nov. 18. The kiosks replace the GambetDC kiosks operated by Intralot.

  Fri, Nov 22, 2024

Coquilles continue quest for off-reservation casino, Turning Stone expansion gets underway and Wilton Rancheria invest in Sacramento Republic FC.

Oregon Coquilles Closer to Casino Approval

It appears the Coquille Tribe is one step closer to getting federal approval for a casino in Medford. The Bureau of Indian Affairs (BIA) Nov.  20 told the tribe it plans to issue a final environmental impact statement on the site, according to Willamette Week. There is now a 30-day public-comment period on the statement.

The Coquilles’ request is unusual – and the BIA’s decision could set a precedent for tribes elsewhere. The Coquilles are seeking approval to build an off-reservation casino.

The tribe already operates a casino on its land. But it says having a second casino in an urban area will “provide financial resources for tribal programs and career opportunities for tribal citizens,” Ray Doering, spokesman for Tribal One, the tribe’s economic development arm, told Willamette Week.

The Cow Creek Band of Umpqua Tribe of Indians, who have a casino about 70 miles from the proposed Medford location, oppose the Coquille plan.

Turning Stone Begins New Phase of Expansion

The latest phase of a $370 million expansion at the Turning Stone Resort Casino—the largest since it opened in 1993—is now underway.

Some 73 tons of steel arrived at the Oneida Indian Nation-owned casino in recent days. The nation and its business arm, Turning Stone Enterprises, also announced this week they have signed contracts with 26 different contractors, all based in upstate New York, to handle mechanical, electrical, plumbing and other work on the project.

The plan is to make Turning Stone the largest resort convention destination in the state. The project, dubbed by the Oneidas as “The Next 30” or “Evolution,” began in 2023, around the 30th anniversary of the casino’s opening.

The Evolution project is focused on convention and conference capabilities, which are currently operating at nearly full capacity. This expansion does not include any additions to the gaming operations at the full-service casino.

California’s Wilton Rancheria Buys Into USL Team

Wilton Rancheria Chairman Jesus Tarango Jr. Nov.  18 announced that his tribe became the first in the nation to own a stake in a U.S. professional sports team. The tribe is now the majority owner of the USL Championship soccer team, Sacramento Republic FC.

“Wilton Rancheria is proud to be the first Tribal Nation to hold majority ownership of a men’s professional sports team, an industry where ownership has not traditionally reflected the diversity of its fans or surrounding communities,” Tarango Jr. said in a press release. “This milestone not only marks a significant step for Wilton Rancheria but also reinforces Sacramento’s dedication to inclusivity and opportunity.”

Wilton Rancheria owns and operates the Sky River Casino in Elk Grove, south of Sacramento.

  Fri, Nov 22, 2024

Resorts World Sentosa (l.) sees license term shortened, Goa launches iLottery, progress in Thailand and more.

Genting Pledges ‘Transformation’ After RWS License Term Cut Short

The Singapore Gambling Regulatory Authority (GRA) announced Nov.  18 that it had renewed the gaming license for Resorts World Sentosa, one of two integrated resorts (IRs) in the city-state. But the license is only good for two years, a year short of the typical three-year term.

The GRA based its decision on poor post-Covid performance. An independent panel determined that from 2021 through 2023, the IR failed to “develop, maintain and promote its integrated resort as a compelling tourist destination that meets prevailing market demand and industry standards.” The GRA added that RWS still needs “rectification and substantial improvement,” according to the Straits Times.

The renewal will take effect on Feb. 6, 2025. The panel recommended that the next evaluation take place in 2026.

Responding to the news, RWS operator Genting Singapore said “RWS continues to accelerate its transformation to refresh and rejuvenate existing offerings to deepen its destination appeal and visitor experiences.” RWS’ new $6.8 billion waterfront lifestyle complex will add two luxury hotels and grow the property footprint by 50 percent.

Goa, India Launches iLottery

Goa, India, known as the Las Vegas of India, has launched the country’s first fully digital lottery. Ticket sales for Great Goa Games began Nov.  18, with the first draw scheduled for Nov.  24, according to the India Times.

The state government licensed Rhiti Group to operate the games. Group founder Arun Pandey told Mediabrief that the new lottery will give players “a secure and convenient way to engage in state-approved lotteries.” The app-based platform was sanctioned by the Directorate of Small Savings and Lotteries in the state of Goa. “Our mission,” he said, “is to democratize opportunities through technology.”

In a 2024 white paper, the not-for-profit Pahle India Foundation (PIF) decried the industry’s failure to keep up with the times and its ongoing reliance on paper tickets and physical retailers.

“Paper-based lotteries are prone to issues such as loss of tickets during transportation, sale of defective or fake tickets, and the difficult and arduous task of maintaining records of tickets (sold, unsold, and defective),” the paper said. “Rapid penetration of smartphone and access to cheap data could be the key drivers to digitalization of the lottery sector. PIF valued lottery revenue at $33 billion annually with taxes at $12 billion.

Thailand Could Pass Casino Bill in Early 2025

Thailand’s entertainment complex bill is expected to clear the cabinet by the end of 2024 before moving on to the House of Representatives and Senate early next year.

The legislation, if approved in parliament, would allow casinos as part of full-service integrated resorts (IRs), like IRs in Singapore and Macau. Each resort complex would include at least four non-gaming attractions: hotels, stadiums, concert halls and theme parks as well as restaurants, clubs and retail corridors.

“The law should be passed in six months from now at the earliest,” Secretary-general Prommin Lertsuridej told Bloomberg News in a Nov.  15 interview. “So it should be next year to start.”

Lawmakers in the kingdom have indicated they want to open the first of at least five IRs by 2029. The return could be substantial: per Citigroup estimates, an established Thai gaming sector could reap annual revenue of $9.1 billion.

The nascent market has drawn the interest of “big investors with world-class experience,” Prommin said. “So many people have tried to talk with us,” he said. The list includes Macau operators Galaxy Entertainment Group, MGM Resorts International and the Las Vegas Sands Corporation.
Under the proposed legislation, license terms will be 30 years, renewable in 10-year increments. Lawmakers have proposed a 17 percent tax rate. Thai nationals will pay an entry fee to gamble. Foreigners may enter for free.

Philippine Gaming Revenues Up Despite POGO Ban

The Philippine Amusement and Gaming Corp. (PAGCOR), which regulates gaming in the country, announced that gross revenues reached PHP94.61 billion (US$1.6 billion) from July through September. That’s an increase of 37.52 percent over the same period in 2023.

According to the Philippine Inquirer, PAGCOR attributed the growth to electronic games. The category includes traditional and electronic bingo, electronic casinos, sports betting, specialty games and online poker.

“This impressive performance is a strong indication that the use of modern technology and mobile gadgets in gaming and amusement will continue to play a pivotal role in shaping the future of gaming,” said PAGCOR Chairman and CEO Alejandro Tengco in a statement.

The surge in e-gaming could compensate for the loss of Philippine Offshore Gaming Operations (POGOs), banned in July by President Ferdinand Marcos Jr. Marcos issued the ban after investigators discovered that some POGOs were fronts for online scams and money laundering. They also allegedly ran on the forced labor of trafficked workers, both foreign and domestic.

  Fri, Nov 22, 2024

Industry pushes back on Peruvian consumption tax, more sites blocked in Brazil, Betano secures Colombian license and more.

Proposed Consumption Tax Sparks Concern Among Peru Industry

A reintroduced 1 percent consumption tax on betting in Peru has been met with backlash by the country’s gambling industry amid fears it could prompt rises in black market activity.

An amended Law No 31557 regulated online gambling in Peru earlier this year, with the consumption tax that was previously included left out.

However, the previously discussed consumption tax on 1 percent of every bet was reintroduced by the government on Sep. 13 by Legislative Decree 1644.

While no date for the levy’s enactment has yet been announced, Apuesta Total CEO Gonzalo Perez warned the 1 percent rate was “crazy” and risked bettors looking to the illegal market instead.

Meanwhile, lawyer Nicolás Samohod Rivarola told iGB: “It would take the tax impact on [licensed operators] to high and burdensome levels, bordering on unconstitutional. And it would make many [stakeholders] think about evaluating their [presence] in the Peruvian market.”

Anatel Blocking Total Reaches 5,200 as Brazil Cracks Down on Illegal Operators

Brazil’s Ministry of Finance has instructed the government telecoms agency Anatel to block an additional 1,812 illegal gambling websites, pushing the total number of blocked domains past 5,200.

It’s the third list of domains sent by the Ministry of Finance’s Secretariat of Prizes and Bets (SPA) to Anatel, which is responsible for ensuring the sites are taken down.

The SPA has approved only 100 operators and 223 brands to remain active ahead of the legal market’s launch, with all other domains now deemed illegal and subject to blocking.

The site blocking is part of the government’s efforts to crack down on illegal and unlicensed gambling operators amid significant backlash from officials and the private sector.

Q3 Results Display Operators’ Excitement for Brazil Launch

The majority of the gambling sector have now published their results for Q3, and with the Brazil legal market launch on Jan. 1, 2025 now just weeks away, operators have been setting out their intentions.

Flutter reported year-on-year revenue growth of 4 percent in Brazil for the first nine months of 2024, and having agreed to acquire an initial 56 percent stake in NSX Group in September, CFO Rob Coldrake said Flutter was “very confident” in its approach to Brazil.

Entain, meanwhile, posted year-on-year growth of 48 percent in Brazil for Q3, the second straight quarter it achieved that figure, though CFO Rob Wood warned that with additional regulations coming from the legal market launch date onwards, that growth would likely slow in 2025.

But while Entain and Flutter are gearing up for the launch, Rush Street Interactive CEO Richard Schwartz said his company would take a “wait-and-see approach” in Brazil despite the business revealing monthly active users in its other LatAm markets of Mexico, Colombia and Peru were up 122 percent in Q3 when compared to the same period of 2023.

Betano Becomes 16th Online Operator to Receive Colombia License

The Betano brand, operated by Kaizen Gaming, has been authorized to enter the Colombian market as the 16th licensed online operator.

With its new license, Betano now stands alongside other international operators such as Betsson and Rush Street Interactive’s RushBet in Colombia’s online betting market.

Marco Emilio Hincapié, president of Coljuegos, highlighted that Betano’s licensing would support efforts to enhance funding for the nation’s health system.

“We continue to strengthen online gaming industry,” Hincapié explained. “We hope that, with the entry of this new operator, we can continue to increase funding for the health of Colombians.”

Ministry of Sport Requests Help Against Misleading YouTube Ads

Brazil’s Ministry of Sports has sought assistance from the Ministry of Justice and Public Security (MJSP) to crack down on deceptive gambling ads on YouTube.

On Nov.  18, the Ministry of Sports, through the National Secretariat for Sports Betting and Economic Development of Sports (SNAEDE), sent a letter to the MJSP urging action against influencer gambling ads, citing over 53 YouTube accounts promoting false promises of easy profits in Brazil.

The Ministry of Sports has asked the MJSP to increase its efforts in investigating influencer marketing and involve the federal police to counter the continuing issues.

The Brazilian government has taken steps to restrict influencer advertising through its gambling marketing regulations, released on 31 July, with Normative Ordinance No 1,207 limiting operators from presenting gambling as a “socially attractive” activity via influencer or celebrity marketing.

  Fri, Nov 22, 2024

The latest announcements from GLI, Zitro, Light & Wonder and more.

GLI Accredited in Maranhão, Brazil

Gaming Laboratories International (GLI) has become the first laboratory to achieve accreditation in Maranhão, Brazil. The accreditation allows GLI to perform tests and certification for the gambling and lottery industry interested in working with lottery and fixed-odds betting operators in the state of Maranhão.

The milestone is the latest in a series of regulatory achievements for GLI in Brazil. Lottery of the State of Maranhão is the third jurisdiction in Brazil to accredit laboratories, and GLI is accredited in all and the first to be authorized in all.

“We are grateful to the Lottery of the state of Maranhão for granting GLI the laboratory accreditation, becoming the first to be authorized in Maranhão,” said Karen Sierra-Hughes, GLI’s vice president of Latin America, Caribbean and Spain. “The laboratory accreditation is the first step for a successful implementation of the certification based on jurisdictional standards, and the reason why we at GLI take this step very seriously and with great priority every time a new jurisdiction opens.”

Zitro Launches Merging Fu Pots

Slot Supplier Zitro has launched a new concept with the game Merging Fu Pots. The three-pot collection game is the first to offer a guaranteed bonus with all pot enhancements for an extra wager.

At 75 credits, players can access three combinable features: the Green Pot (Multiplier), the Orange Pot (Double), and the Blue Pot (Extra Spin) to unlock up to seven different bonus links. But at the boost level bet of 100 credits, players will unlock one merge pot which combines the Double, Multiplier, and Extra Spin features for a fully enhanced hold-and-spin feature.

Delaware North selects Playtech

Delaware North, a global hospitality and entertainment company with a portfolio of regional casinos and an interactive gaming division, has selected leading online gaming platform, content and services provider Playtech to power its Betly mobile sportsbook and casino.

Playtech is the new platform provider for the Betly sportsbooks, starting with Betly Ohio, which launched this month and replaces MVGBet in an affiliate license partnership with Miami Valley Gaming, a Delaware North joint-venture property located between Cincinnati and Dayton.

The Betly sportsbooks in Arkansas, Tennessee and West Virginia, a state where Betly also offers an online casino in addition to sports betting, will be migrated to the Playtech platform in the coming months.

TransAct Expands Reach in Panama

TransAct Technologies Incorporated, a global leader in software-driven technology and printing solutions, announced a new strategic partnership with Suppliers of Panama, Inc., a premier technical service provider for Panama’s gaming sector.

Under the partnership, Suppliers of Panama will support sales and service for TransAct’s Epic line of gaming products across Panama, delivering enhanced access to high-quality support and technology.

Established in 2018, Suppliers of Panama has earned a reputation for excellence in technical services, maintenance, repairs, and logistics support for Panama’s major casino operators.

“We are excited to collaborate with Suppliers of Panama, Inc., whose expertise and commitment to the gaming industry align perfectly with our own,” said Tracey Winslow, CRO of TransAct Technologies. “With this partnership, we aim to elevate the customer experience for Panama’s gaming operators by offering convenient, locally available sales and support for our Epic line.”

Golden Circle Picks Light & Wonder Systems

Gaming supplier Light & Wonder announced it has been selected to provide a host of systems solutions for the Ruffin Group’s newest project, Golden Circle Casino, located in Wichita, Kansas.

Golden Circle Casino, scheduled to open in Q3 2025, will leverage Light & Wonder’s best-in-class technology to power its casino floor. The installation will include a full suite of products, including the SDS/ CMP system with promotions, iVIEW Pro, CoolSign Media, Beverage Ordering, Elite Bonusing Suite, Promo Kiosk, Business Intelligence with Campaign Manager, Unified Wallet, Servizio Mobile, and the L&W Engage player loyalty offering.

This is Light & Wonder’s fourth systems installation in Kansas, further strengthening its footprint in the state. Golden Circle Casino’s advanced technology implementation will provide the property with the tools needed to elevate both guest satisfaction and operational efficiency.

Koin Names Craig Libson Chief Strategy Officer

Digital payments solution provider Koin has appointed fintech veteran Craig Libson to the role of chief strategy officer, a pivotal addition as the company continues its growth trajectory in cashless gaming and digital wallet solutions across global markets.

As chief strategy officer, Libson will be instrumental in shaping and driving Koin’s overall strategic initiatives, broadening the company’s reach in key markets and spearheading efforts to enhance the entire digital payments landscape. He brings a proven track record in launching pioneering, sector-defining payment solutions, aligning \ with Koin’s vision for the future of cashless solutions.

Libson has enjoyed a prolific career in payments before joining Koin. In 2015, he founded Cash2Go Inc., launching the first Latin American cashless gaming fintech solution, integrating multi-account card capabilities and synchronized player onboarding to optimize the user experience. More recently, in 2021, he founded Flexia Payments, which extended cashless innovations throughout both the United States and Canada. Between these and other ventures, his work has helped establish new quality standards in gaming and payments.

By Frank Fantini   Fri, Nov 22, 2024

As we approach the end of the year, the time has come to look back at notable developments from 2024 and project ahead to 2025.

We officially have entered into the holiday period. Historically, this is a time when, barring exogenous surprise, stocks behave well and investors start looking into what the new year will bring.

In the U.S., investors will be looking at every announcement, pronouncement, hint and appointment by Donald Trump to try to determine the investment environment for 2025. In addition, concern that inflation could remain stubbornly high and upset chances of lower interest rates jeopardizes interest-sensitive stocks and the outlook for mergers and acquisitions.

But generally, we’ve entered that time of the year when many investors turn to reflection rather than reaction.

In that spirit, here are a few longer-range thoughts:

• Brick-and-mortar gaming is no longer a growth industry in the U.S. Gaming has reached the stage of what might be called infill – put a casino or two in a state like Nebraska, convert the last riverboats into land-based casinos, complete the buildout of the occasional new jurisdiction like Virginia.

Otherwise, there isn’t much growth. Casino executives on third-quarter conference calls used the term “stabilized” to describe business trends. That is a euphemism for flat. And in a world of three and four percent compounded inflation, flat means effectively down.

• iGaming is masking the weakness. Combined gaming revenue is rising, but only when factoring in digital.

Deutsche Bank equity analyst Carlo Santarelli says the debate over the impact of digital gaming on brick-and-mortar is over. As he pointed out in a recent note, brick-and-mortar gaming revenue has been basically flat in states with iGaming compared to 8 percent growth elsewhere.

The best recent example might be New Jersey. October brick-and-mortar revenues fell 8.5 percent while iGaming rose 28.1 percent; and online casinos are now bigger than physical casinos as revenue totaled $213.6 million in the month vs. $208.7 million for land-based.

• But for investors, iGaming remains a mixed bag. Online betting, especially sports betting, has not been a big contributor to bottom lines and many companies still lose money on digital as they fight market share wars.

The poor results extend to the so-called pick-and-shovel plays such as affiliates and game providers, though there are positive exceptions such as Gambling.com and the data providers, Sportradar and Genius Sports.

• Las Vegas. Can it grow to the sky? The conventional view is that Las Vegas is the exception, but a lot of Sin City’s recent robustness has been built on non-recurring events.

As examples: There was only one inaugural F1 race. This year, the event will be a money-maker, but maybe less so than last year. There will be no Super Bowl in 2025 or later.

We agree that Las Vegas should continue to grow, both in tourist and locals markets, but that growth may be more steady than spectacular.

• Expansion may not be so expansionary. The legislative story of 2024 was the dearth of gaming expansion. That may prove true again in 2025 and 2026. Indeed, there might even be some retrenchment as states rein in what could be seen as the dangers of online gaming to youths and those susceptible to gambling addiction or abuse.

So there are still states to dream on, like Texas casinos and California iGaming, but don’t bank on them.

• Over there. The growth excitement is in lands beyond the seas. Brazil opens iGaming on New Year’s. Las Vegas Sands and Genting Singapore are pouring several billions into Singapore expansions. Developers are investing billions in the United Arab Emirates and hope to spend more. Thailand may come calling. South Korea and the Philippines are open for investment. Macau operators invest more and more to keep the government happy.

Obviously, each of these nations present different opportunities and challenges. For now, we’ll simply label them high risk, high reward, and advise caution.

So to what opportunities does this lead? Two thoughts on general areas:

• Total return may beat growth. Give us tangible returns, as in meaningful dividends accompanied by steady free cash flow growth.
• Look for gaming tech companies that can help casinos operate more profitably in a slow or no-growth environment, whether through labor costs, operating efficiencies or marketing, whether from electronic and smart tables to cashless to artificial intelligence.

By Roger Gros   Fri, Nov 22, 2024

Very few of the nearly 150 members of the American Gaming Association’s Gaming Hall of Fame ever actually dealt a casino game. That is not true for the third member of this year’s class, Debi Nutton. She was the first female craps dealer on the Las Vegas Strip, the first female craps supervisor and the first woman pit manager. As she moved around to different casinos early in her career—as was the plan in those days—Nutton soon joined the Mirage, when it was about to open. She impressed the senior executives so much, she was promoted again and again. Later joining MGM Resorts, she became the first female vice president of casino operations and today is a highly sought-after consultant to any new casino ready to hire and train its casino staff. Nutton spoke with GGB Publisher Roger Gros in the dining room of her home in November.