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PlayIA.com: Sportsbooks surge again with $280 million in October

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Iowa sportsbooks took in more than $280 million in bets in October, catapulting past September’s record for monthly wagers by a whopping $70 million. With five weekends of football, an October surge was expected even if one not this large. Iowa’s sportsbooks have now collected more in bets over the last three months ($599.8 million) than in all of 2020 ($575.2 million), according to PlayIA, a leading source for news and analysis of the Iowa gaming market.   

“With baseball’s postseason, the start of the NBA, and a calendar packed with football, bettors found so much to bet on,” said Eric Ramsey, an analyst for the PlayUSA.com Network, which includes PlayIA.com. “Iowa has also made a significant leap forward in maturation as more operators launch and Iowans begin to feel more comfortable with online sports betting. A maturing market and busy sports calendar proved to be a powerful combination.”

Iowa’s online and retail sportsbooks took in $280.9 million in wagers, up 243% from $81.9 million in October 2020 and breaking the record $210.4 million handle reached in September, according to official data released Thursday. Bettors averaged $9.1 million per day during the month, an increase over the $2.6 million per day in October 2020.

Iowa sportsbooks have now accepted $2.3 billion in wagers since launching.

Taxable revenue rose 27.8% to $6.6 million in October from $2.8 million in October 2020 and 14.7% from $5.7 million in September. The combined gains yielded $514,643 in tax revenue for the state.

“The enthusiasm over Iowa and Iowa State football waned a bit in October, but both are still drawing a lot of interest to the state’s sportsbooks,” said Russ Mitchell, lead analyst for PlayIA.com. “There won’t be another opportunity like the Cy-Hawk game featuring two Top 10 teams anytime soon, but on the whole, Iowa’s sports betting industry is in a great position headed into the final months of 2021.” 

Online betting accounted for $249.9 million, or 89%, of October’s handle, yielding $3.5 million in revenue. Retail betting represented the remaining $31.0 million, producing $3.0 million in net receipts. 

Caesars topped the online market with $97.0 million in wagers, but lost $1.6 million in revenue. DraftKings followed with $76.4 million in online wagering, producing $1.4 million in net receipts.

Diamond Jo Worth led retailers with $7.2 million in bets, yielding $788,755 in revenue. Ameristar Council Bluffs was just behind with $7.1 million in wagers, which produced $601,591 in net receipts.

Iowa’s roster of online operators has grown more robust, too. Fubo Sportsbook soft-launched on Sept. 23, Betway launched Oct. 1, and Circa Sports began taking bets on Oct. 7. With Barstool Sports’ launch on Nov. 2, Iowa is now home to 17 online operators, the most per capita of any legal market in the U.S. And even more are preparing to enter the market soon.

“Iowa is an enticing market for operators because it has a fair regulatory framework and top operators, such as FanDuel and DraftKings, don’t dominate the market as much as in other states,” Ramsey said. “That provides an opportunity for smaller operators to gain a foothold, which does not exist in larger and more established markets.”

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Thunderkick’s portfolio makes Ontario debut through SkillOnNet brands

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Global entertainment brand SkillOnNet is deepening its existing partnership with Stockholm-based game studio Thunderkick to launch the developer’s unique, engaging slot titles in Ontario.

The Canadian province is one of the most exciting regulated markets in North America, and the Ontario players will now gain access to Thunderkick’s full portfolio of highly acclaimed games via SkillOnNet-powered online casino brands such as PlayOJO, SlotsMagic, and SpinGenie.

Thunderkick is known for its independent, boundary-pushing slot games like Pink Elephants, Esqueleto Explosivo, and Beat the Beast and has established a strong reputation for creativity and originality in the iGaming space. The deal allows the studio to further expand its global footprint while giving Ontario players the chance to enjoy a fresh wave of premium content.

Ontario’s regulated online gaming market, which officially opened in 2022, has quickly become a key market for the iGaming industry, and SkillOnNet was among the first brands to secure licensing in the province. The expansion reinforces SkillOnNet’s commitment to delivering top-tier entertainment in regulated markets globally.

Jani Kontturi at SkillOnNet said: “Thunderkick has been a key partner of ours in other markets, and we’re delighted to bring their outstanding content to Ontario. This region is fast becoming a vital part of our operations, and we’re confident players here will respond just as positively to Thunderkick’s games as they have elsewhere.”

Mariam Dodosh, Account Manager at Thunderkick said: “We’re thrilled to expand our relationship with SkillOnNet and enter the Ontario market together. Our games have a track record of strong performance, and we’re excited to see them go live in one of the most dynamic new regions in iGaming.”

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Maverick Games Launches Sports Betting Operations in Ontario

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Maverick Games has launched sports betting operations in Ontario, through a partnership with Delasport.

Maverick Games will offer Ontarian players a premium sports betting experience, built on Delasport’s superior technology and known for its unique innovative features that players love including personalization, recommendations, gamification, quick bets, player engagement features, and more.

Maverick Games is the second brand to launch on Delasport’s technology in Ontario, with another full turnkey brand set to go live soon. Delasport also recently unveiled its innovative sports betting jackpot network game, SuperPot. The company will showcase this unique product at the Canadian Gaming Summit next month and begin rolling it out to Ontarian operators shortly thereafter.

“We are proud to see Maverick Games live and thriving with our one of a kind sportsbook solution at its core. They have been a fantastic partner from the start, and this launch further demonstrates how fast and efficient our technology is when paired with a clear vision and strong collaboration,” said Rosaire Galea Cavallaro, VP of Business Development at Delasport.

“Maverick Games’s sports vertical is a major step forward for us and launching it with Delasport has been the right move from day one. The platform’s performance and flexibility allow us to deliver the kind of user experience we believe Ontario players deserve. We’re excited to now bring that vision to life,” CEO Matt Rathbun said.

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Tsleil-Waututh Nation Signs MoU to Acquire Casino Business at Hastings Racecourse & Casino

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Tsleil-Waututh Nation (TWN) announced that it has signed a Memorandum of Understanding to acquire the casino business and related real property interests at Hastings Racecourse & Casino (Hastings) in the City of Vancouver from Great Canadian Gaming Corporation (Great Canadian Entertainment).

“We are thrilled to take another important step towards economic self-determination for our Nation in our traditional territory, and we are eager to work with the senior management team at Great Canadian Entertainment to finalize due diligence and execute a definitive agreement, as well as working with the City of Vancouver to ensure the best long-term use of this important asset within the City. We believe that this opportunity is historic for us in many ways, and we look forward to entering the gaming industry in due course,” said Jen Thomas, Chief of the Tsleil-Waututh Nation.

“We are excited about working with TWN on their potential acquisition of the casino operations and related real property interests at Hastings Racecourse & Casino. Recognizing that Hastings is part of the TWN’s traditional territory, we can think of no better entity to inherit this asset, and we look forward to supporting them in the transition after the anticipated close of the sale,” Matt Anfinson, Chief Executive Officer of Great Canadian Entertainment.

The agreement is subject to further due diligence, finalization of financial terms and the execution of a definitive purchase and sale agreement. Once a definitive agreement has been executed by the parties, it is anticipated that the transaction will be subject to customary closing conditions as well as customary approvals by gaming regulatory and other authorities, including certain approvals by the City of Vancouver given its ownership of the real property. It is expected that Great Canadian Entertainment will provide transition services to TWN for a period of time following the anticipated closing.

The post Tsleil-Waututh Nation Signs MoU to Acquire Casino Business at Hastings Racecourse & Casino appeared first on Gaming and Gambling Industry in the Americas.

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