Month: August 2021

GiG CEO demands B2C improvement

GiG CEO demands B2C improvement

first_img GiG CEO demands B2C improvement Companies: GiG Subscribe to the iGaming newsletter Topics: Finance Sports betting AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Financecenter_img Gaming Innovation Group (GiG) chief executive Robin Reed has vowed to improve the performance of the company’s B2C Gaming division after it saw a dip in revenue and earnings.The gaming services company, which is in the process of switching its listing from Oslo to the Nasdaq Stockholm, secured a 39% jump in overall operating revenues to €36.9m ($42m/£33m) during the three months to June 30, according to results published this morning.Operational costs and marketing expenses led to an almost 12% decline in EBITDA compared to the same period last year, with the company “investing heavily” in new products, enhancements to existing services, regulatory costs associated with entry into the New Jersey and Swedish markets, and commercial activities around the World Cup. Reed (pictured) said the “heavy-lifting” of development is now done and with all GiG’s products – including its new sports betting platform and GiG Comply compliance tool – to be monetisable from September, expects this to be reflected in its future results. “GiG has invested significantly to expand across all verticals of iGaming,” said Reed in a statement.“We are building to become the one-stop shop for every company serious about its iGaming business.“With the majority of the heavy-lifting behind us and the strongest season ahead of us, we should see growth in both revenues and profits in the coming quarters, while working towards our goal of becoming the largest full service company to the iGaming industry.”The company is predicting revenue of up to €162m compared to 2017’s €120.4m, with EBITDA of €16-20m compared to €13.5m in 2017.However, Reed is not content with the performance of the Gaming division, which includes its consumer-facing in-house brands such as Rizk, Guts and Thrills. Revenue of €24.2m was up on Q2 2017, but down by more than €1m compared to the last two quarters. After one quarter of positive EBITDA in Q1, the division saw a €2.8m earnings deficit during Q2.Reed, who has taken over as acting CMO to improve performance, highlighted high marketing-to-revenue ratios, with costs up to 54% of the section’s revenue during the period, compared to 46% in Q1.A strategic review of Gaming has led to the company converting its SuperLenny casino into an affiliate website and a series of new product releases, including an update to Guts, which Reed accepts had been “left behind”. Reed also said the company has considered selling off parts of its B2C division.“I’m not happy [with GiG Gaming] which is why I’ve taken over that,” Reed said in a presentation accompanying the Q2 results. “We have a determined team, but we can do better. It’s not good enough based on the marketing spent.“I will personally ensure this vertical develops. We have seen healthy development in July and August.” 14th August 2018 | By contenteditor Reed focuses on in-house brands as company completes services revamp Email Addresslast_img read more

Clarion Gaming formalises support for All-In Diversity Project

Clarion Gaming formalises support for All-In Diversity Project

first_img14th November 2018 | By Hannah Gannage-Stewart Tags: Online Gambling Topics: People AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Address Clarion Gaming has agreed a strategic partnership with the All-In Diversity Project, enforcing its mission to support under-represented members of the industry.Under the terms of the partnership Clarion brands, including iGaming Business, will provide a platform for the All-In Diversity Project helping to disseminate news, host webinars, and feature the project and related initiatives.All-In Diversity will also have a presence at Clarion Gaming’s leading business to business events including ICE London, which takes place 5-7 February at ExCeL, London, UK.Clarion’s portfolio includes many of the industry’s best known event, training and publishing brands and the business has taken steps recently to publicly advocate its support for a more inclusive industry.Earlier this year, the events company revised its code of conduct including new guidance on gender representation and dress codes for stand staff.Clarion Gaming managing director Kate Chambers said formalising its long-term support for the All-In Project underlines Clarion Gaming’s commitment to diversity and inclusion.“We are delighted to lend our support to the objectives set out by the All-In Diversity Project.  We believe more needs to be done not only to improve access, diversity and inclusion in gaming but in general to modernise the culture of gaming and  better reflect its aims to become recognised as a responsible, technology-led part of the entertainment industry,” she said.Earlier this year iGaming Business ran its first Most Influential Women feature, with founders of All-In Christina Thakor-Rankin and Kelly Kehn making up part of the industry judging panel.Following the feature, All-In ran an event in conjunction with the magazine inviting the Most Influential to discuss the best ways forward in terms of improving diversity, as well as to create a networking forum.Chambers added that she hoped that collaboration “will continue and develop into other events and initiatives.”Thakor-Rankin said: “Clarion Gaming is active throughout the gaming space and is uniquely positioned to connect businesses in every gaming vertical and in every jurisdiction.  The organisation is an ideal strategic partner and will help us to educate, engage and inform businesses of all sizes about the importance of diversity and inclusion in helping to meet commercial objectives and in particular recruit the next generation of talent.”center_img Clarion Gaming formalises support for All-In Diversity Project People Clarion Gaming seals strategic partnership with the All-In Diversity Project Subscribe to the iGaming newsletterlast_img read more

Colorado approves first sports betting licences

Colorado approves first sports betting licences

first_img Colorado’s gambling regulator, the Limited Gaming Control Commission, has approved seven licences and the state’s regulations for sports betting.The seven casinos to receive master licenses are Monarch Casino and Saratoga Casino in Black Hawk, Dostal Alley Casino in Central City and Double Eagle Hotel & Casino, J.P. McGill’s Hotel & Casino, Midnight Rose Hotel & Casino and Brass Ass Casino in Cripple Creek.Each licence allows for both retail sports betting and one online betting skin. Applicants for licenses must pay a $10,000 application fee before applying plus a $125,000 licence fee if approved.Triple Crown Resorts operates Brass Ass, JP McGill’s and Midnight Rose.The Betfred USA Sports arm of bookmaker Betfred agreed a deal in January to offer sports wagering services at the Saratoga Casino, while Australian operator Pointsbet has secured a partnership with the Double Eagle Casino.Read more on iGB North America. Email Address 21st February 2020 | By Daniel O’Boyle Regions: US Colorado Subscribe to the iGaming newsletter Legal & compliancecenter_img Topics: Legal & compliance Sports betting Colorado’s gambling regulator, the Limited Gaming Control Commission, has approved seven licences and the state’s regulations for sports betting. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Colorado approves first sports betting licenceslast_img read more

F1 launches esports series as Azerbaijan GP postponed

F1 launches esports series as Azerbaijan GP postponed

first_img F1 launches esports series as Azerbaijan GP postponed AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Email Address Topics: Sports betting Sports betting 23rd March 2020 | By contenteditor Formula 1 has launched a new esports competition in place of the races that have been postponed as a result of the outbreak of novel coronavirus, as the motor-racing series announced the Azerbaijan Grand Prix as the latest of its events to fall victim to the global pandemic.The F1 Esports Virtual Grand Prix series launched yesterday (22 March), with the Virtual Bahrain Grand Prix running place of the actual Bahrain Grand Prix that had been due to take place on the same day.The series will use the official F1 2019 PC video game, with the debut race using a virtual Sakhir track at a 50% length race with 28 laps. Participants, including current F1 drivers, also took part in a qualifying session to see where they would start on the grid.The F1 Esports Virtual Grand Prix is scheduled to run until May, though if the actual F1 series is still suspended at this time, the esports contest will then be extended. F1 noted that points accumulated in the esports tournament would not go towards scores for the actual F1 season.“We are very pleased to be able to bring some light relief in the form of the F1 Esports Virtual GP, in these unpredictable times, as we hope to entertain fans missing the regular sporting action,” F1’s head of digital business initiatives and esports, Julian Tan, said.“With every major sports league in the world unable to compete, it is a great time to highlight the benefits of esports and the incredible skill that’s on show.”Meanwhile, F1 has announced that its Azerbaijan Grand Prix will not take place as planned on 7 June, due to ongoing concerns over the coronavirus.Officials from the Baku City Circuit said the postponement was agreed after talks with F1, the Fédération Internationale de l’Automobile and the Government of the Azerbaijan Republic.The Baku City Circuit said in a statement: “This comes as a direct result of the ongoing global Covid-19 pandemic and has been based entirely on the expert guidance provided to us by the relevant authorities.”Azerbaijan becomes the eighth race of the year to be postponed or cancelled, after the Australian, Bahrain, Vietnam, Chinese, Dutch, Spanish and Monaco Grands Prix.The next event after the Azerbaijan Grand Prix is the Canadian Grand Prix, which, at present, is scheduled to take place on 14 June at the Circuit Gilles Villeneuve in Montréal. Formula 1 has launched a new esports competition in place of the races that have been postponed as a result of the outbreak of novel coronavirus, as the motor-racing series announced the Azerbaijan Grand Prix as the latest of its events to fall victim to the global pandemic.last_img read more

Roar and WH receive CO licences in latest round

Roar and WH receive CO licences in latest round

first_imgLegal & compliance The Colorado Gaming Control Commission has issued master sports betting licenses to seven venues, including two operated by Century Casinos, as well as online betting licenses to Roar Digital, Smarkets, Rush Street Interactive and Penn National Gaming.The Commission granted master licenses – which allow an operator to work with a licensed retail sportsbook, a licensed online sportsbook or a licensee that offers both – to Century Casinos’ Central City and Cripple Creek properties.In addition, master licenses were granted to the Lodge Casino, Gilpin Hotel Casino and Bull Durham Saloon & Casino and Red Dolly Casino, all located in Black Hawk.The Commission also granted six online licenses, including one to Century Casinos’ partner, Circa Sports. In February, the pair joined forces in a 15-year agreement to launch online sports wagering services in the state.Read more on iGB North America. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 6th April 2020 | By Daniel O’Boyle Roar and WH receive CO licences in latest round Email Addresscenter_img Regions: US Colorado Subscribe to the iGaming newsletter The Colorado Gaming Control Commission has issued master sports betting licenses to seven venues, including two operated by Century Casinos, as well as online betting licenses to Roar Digital, Smarkets, Rush Street Interactive and Penn National Gaming. Topics: Legal & compliance Sports bettinglast_img read more

China lottery sales down 41.7% in first half

China lottery sales down 41.7% in first half

first_img Subscribe to the iGaming newsletter Regions: China Finance Chinese lottery sales fell 41.7% year-on-year in the first half of 2020, after the market suffered significant disruption from the novel coronavirus (Covid-19) pandemic. Email Address Topics: Finance Lotterycenter_img Chinese lottery sales fell 41.7% year-on-year in the first half of 2020, after the market suffered significant disruption from the novel coronavirus (Covid-19) pandemic.Sales for the six months ended 30 June fell to CNY123.90bn (£13.75bn/€15.09bn/$17.69bn), which comprised a CNY59.29bn contribution from the Welfare Lottery (down 39.4%), and CNY64.61bn from the Sports Lottery (down 43.7%).The largest contribution across both lotteries came from digital ticket sales, which accounted for CNY90.22bn of the total, 18.9% below the H1 2019.The biggest decline, however, was reported for video lottery sales, which ended the six month period down 79.9% year-on-year at CNY5.06bn. Prediction-based games – ie, betting – sales also experienced a sharp year-on-year decline, falling 72.6% to 17.08bn.Instant win sales, meanwhile, were down 16.8% at CNY11.49bn, and keno – traditionally the smallest segment – was down 51.1% at CNY37.8m.This followed the market’s strongest showing of the year to date in June, when it recorded a sales decline of just 3.4%. This was by far the lowest year-on-year decline reported in the monthly figures, with every other month badly affected by Covid-19 and the resulting local and national lockdowns.Lottery sales for June totalled CNY33.57bn, of which CNY15.30bn came from the Welfare Lottery (down 3.9%), and CNY18.27bn from the Sports Lottery (down 3.1%).June even saw some verticals report year-on-year growth. Digital lottery sales were up 21.3% from the prior year to CNY22.71bn, while instant win sales rose 30.2% to CNY2.98bn.Predictions-based games (betting), on the other hand, saw sales decline 33.9% to CNY6.36bn, while video lottery sales fell 63.5% to CNY1.50bn. Keno was again the smallest contributor, with sales of CNY12.6m representing a 1.9% decline from June 2019.June also saw 13 provinces across China report growth in sales, of which Xinjiang, Tibet and Shaanxi were the top performers. However, for the six month period, sales were down year-on-year in all provinces. 27th July 2020 | By contenteditor AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter China lottery sales down 41.7% in first halflast_img read more

DSbV calls on payment providers to stop igaming transactions

DSbV calls on payment providers to stop igaming transactions

first_img German gaming machine operator association Deutsche Spielbankenverband (DSbV) has called for payment providers to stop processing illegal gaming payments and for an end to “incoherent case law” around online gambling in the wake of the Wirecard scandal.DSbV chief executive Otto Wulferding pointed out that Wirecard, which filed for insolvency after announcing that €1.9 billion supposedly held in its accounts “may not exist”, was heavily involved in online gambling in Germany.“With Wirecard, the topic of monetary transactions for companies such as online casinos is of high importance,” Wulfdering said.Wulferding added that it was a positive development to see that Visa and PayPal have both stopped their involvement with online gaming operators.“It is to be welcomed that Visa, for example, no longer wants to process deposits and withdrawals for currently illegal gaming providers in Germany,” he said. “Online casinos without a German licence are evading the regulatory framework in Germany.“They do not meet the requirements that apply to licensed casinos, which allows customers to carry out their bets and thus deposits and withdrawals safely and reliably.”In addition, Wulfdering called for an end to what he described as “incoherent case law” surrounding online gambling. Currently, German states are discussing a potential transition period that would allow operators to continue to offer online casino before the vertical is legalised in July 2021.The discussions are taking place ahead of the implementation of the Glücksspielneuregulierungstaatsvertrag (GlüNeuRStV) from 1 July 2021, which is currently being considered by the European Commission and expands the online market beyond sports betting for the first time.These discussions arose after a legal challenge in the state of Hesse, which saw proceedings suspended, allowing the two parties to negotiate a compromise agreement, in an unnamed operator’s appeal against a prohibition order issued by the Regional Council. Prior to this, operator body the Deutscher Sportwettenverband had called for such a period.Payment service providers are legally obliged to refrain from making payments in connection with unauthorised gambling. Should they fail to comply with these regulations, they risk being banned from operating in Germany.Niedersachsen, granted the power to issue blocking orders to payment providers for all of Germany, issued its first payment blocking order in June 2019 to an unnamed company, thought .Although the European Gaming and Betting Association (EGBA) criticised this decision and called for a “fundamental rethink” of enforcement of gaming regulations, Niedersachsen’s Minister of the Interior and Sports Boris Pistorius warned in February of this year that “further prohibition orders are expected to follow”.In April, Niedersachsen issued a prohibition order to another payment provider.However, with the new Fourth State Treaty on Gambling set to take effect on 1 July 2021, two Freie Demokratische Partei (FDP) state MPs in Niedersachsen questioned whether the state government’s measures were necessary in June. Regions: Europe Central and Eastern Europe Germany DSbV calls on payment providers to stop igaming transactions Topics: Legal & compliance Email Address German gaming machine operator association Deutsche Spielbankenverband (DSbV) has called for payment providers to stop processing illegal gaming payments and for an end to “incoherent case law” around online gambling in the wake of the Wirecard scandal. Legal & compliance 4th August 2020 | By Daniel O’Boyle Tags: Online Gambling Payments Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitterlast_img read more

AGA & Nascar form responsible gambling partnership

AGA & Nascar form responsible gambling partnership

first_img The American Gaming Association has signed a new partnership with the National Association for Stock Car Auto Racing (Nascar), to help educate racing fans on responsible gambling through the AGA’s ‘Have a Game Plan, Bet Responsibly’ campaign. Nascar action resumed on May 17 after more than two months of suspension caused by the novel coronavirus (Covid-19) pandemic. Racing returned behind closed doors, with the first event taking place at the Darlington Raceway in South Carolina. Read the full story on iGB North America. 18th September 2020 | By Aaron Noy “The AGA uniquely understands the convergence of legal betting, sports, and responsible gaming. As sports bettors increasingly engage with Nascar, we look forward to working together to promote bettor education and resources that help prepare our fans for the rapidly expanding legal sports betting landscape.” AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Nascar’s managing director, gaming, Scott Warfield said: “Ensuring that our fans have the resources to bet responsibly is a founding principle of our gaming strategy”. AGA & Nascar form responsible gambling partnership Topics: Social responsibility Sports betting Responsible gambling Regions: US The announcement coincides with the AGA’s Responsible Gambling Education Week, which runs September 13-19 to showcase the gaming industry’s commitment to responsible gambling initiatives. Responsible gambling Nascar therefore becomes the campaign’s first official professional sports league partner, and will develop co-branded content with AGA, encouraging sports bettors to ‘know when to pit’ and bet responsibly. Email Addresslast_img read more

New Hampshire sports betting revenue rockets 979.3% YoY in March

New Hampshire sports betting revenue rockets 979.3% YoY in March

first_imgBreaking down these figures, mobile sports betting accounted for $3.3m of all revenue in the month, with players wagering $44.4m via mobile devices. Sports wagering revenue in New Hampshire hiked 979.3% year-on-year in March after a 404.6% jump in the US state’s handle for the month. Retail revenue reached $913,486 in March after consumers spent a total of $11.4m at land-based sportsbook in New Hampshire, a new monthly record for the sector. Regions: New Hampshire AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Players wagered a total of $55.8m on sports during March this year, up from $8.8m in 2020, while the state was able to take $1.9m in tax revenue from sports betting. 23rd April 2021 | By Robert Fletcher The closure of retail sportsbooks across the state from mid-March 2020 meant players could only wager online last year, while the postponement and cancellation of almost all sporting events amid the Covid-19 crisis limited betting options for consumers. Financecenter_img New Hampshire sports betting revenue rockets 979.3% YoY in March Read the full story on iGB North America. Email Address Tags: Revenue Handle March Gross gaming revenue from sports betting reached $4.3m (£3.1m/€3.6m) in March, compared to $394,229 in the same month in 2020, though last year’s figures were significantly impacted by the novel coronavirus (Covid-19) pandemic. Subscribe to the iGaming newsletter Topics: Finance Sports betting Online sports betting Retail sports bettinglast_img read more

Penn National revenue grows to $1.27bn in Q1 as online GGR rockets

Penn National revenue grows to $1.27bn in Q1 as online GGR rockets

first_img Penn National revenue grows to $1.27bn in Q1 as online GGR rockets Email Address Topics: Casino & games Finance Sports betting Land-based casino Q1 results 2021 Online sports betting Gaming operations generated $1.08bn of the total revenue figure, up 19.8% year-on-year, while food, beverage, hotel and other revenue sources brought in $192.9m, down 9.5%. 7th May 2021 | By Conor Mulheir Subscribe to the iGaming newsletter Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) came to $336.6m, up 117.4% from $154.8m in Q1 2020. The operator said that its Barstool Sportsbook, which first launched in Pennsylvania in September in association with sports media company Barstool Sports, has since registered over 400,000 customers and generated over $660m in handle, for more than $61m in gaming revenue. Total operating expenses for the quarter came to $1.06bn, including $528m in gaming expenses, $326m in general and administrative costs and $123m in food, beverage, hotel and other expenses. Total costs were down 36.9% compared to the $1.68bn paid in Q1 2020.center_img Read the full story on iGB North America. Land-based and online operator Penn National Gaming has published its results for the three months to 31 March 2021, showing that it generated $1.27bn (£912.7m/€1.05bn) in revenue for the quarter, up 14.2% from Q1 2020 when the operator was hit by venue closures. Q1 results 2021 Tags: Penn National Gaming Regions: US Penn said it plans for the online sportsbook to be live in 8 states by football season and in at least 10 states before the end of the year. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitterlast_img read more