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PlayVirginia.com: Virginia sportsbooks extend historic start with $265 million in February

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Virginia sportsbooks hauled in more than $265 million in wagers in what was the Commonwealth’s first full month of legal sports betting, extending one of the highest volume debuts in U.S. history, according to PlayVirginia, which provides news and analysis of the state’s gaming industry.

“Virginia’s debut has been overshadowed some by Michigan, but together the two states show just how far the U.S. has come,” said Dustin Gouker, analyst for PlayVirginia.com. “The nation’s major operators have the resources to engage bettors in new markets in ways that were impossible in the early days of legalization, which benefits later-comers like Virginia. Ultimately, that will mean a market that goes through fewer growing pains than some of the earlier adopters.”

Spurred by $19.6 million in Super Bowl betting, matching PlayUSA.com projections for the state, Virginia sportsbooks collected $265.8 million in wagers in February, according to official data released Thursday by The Virginia Lottery. That is up from $58.9 million in January. The per-day handle nearly doubled to $9.5 million per day through the 28 days of February from $5.4 million per day in January, easily the largest month-over-month per day gain in the U.S. during the month.

Launched on consecutive days in January, Virginia and Michigan have now combined to take in $741.7 million in online bets so far. And with Michigan’s $301.9 million in online bets in February, the two states represent No. 1 and No. 2 on the list of highest-volume first full months of legalized online sports betting in U.S. history.

Virginia’s sportsbooks won $12.2 million on February’s bets, up from $3.6 million in January. Promotional credits again sapped much of the win, pushing combined adjusted gaming revenue to a $3.2 million loss in adjusted gross revenue. The collective win yielded $300,593 taxes for the state.

Even more, new operators continue to enter the market, joining national heavyweights FanDuel, DraftKings, BetMGM, and BetRivers, which all launched in January. That includes William Hill, which launched just before the Super Bowl in February, and WynnBet, which opened ahead of March Madness, giving Virginians a more robust selection to choose from.

“The enthusiasm from bettors will eventually settle down, and sportsbooks will pull back a bit from this heavy promotional period,” said Jessica Welman, analyst for PlayVirignia.com. “Ultimately, the goal in these early days for sportsbooks is to engage sports bettors, introduce them to their product, and begin building relationships that will act as the foundation. So far Virginia’s operators are doing just that.”

The growth in Virginia should continue in March, which includes the NCAA Men’s Basketball Tournament. But Virginia may not be in as good a position as other states to capitalize on March Madness.

The Commonwealth had five schools reach the NCAA Tournament, but a state ban on wagering on in-state college teams and in-game wagering on college games in general could mute the results of what is traditionally the nation’s single-biggest sports betting holiday in the U.S.

“The NCAA tournament will bring significant interest in Virginia, but the restrictions will prevent a huge leap forward,” Welman said. “Removing those restrictions would really help get the most out of what still should be a big month next month. Regardless of what happens in March, Virginia is off to a great start by most any measure.”

For more information and analysis on regulated sports betting in Virginia, visit PlayVirginia.com/revenue.

About the PlayUSA.com Network:
The PlayUSA.com Network is a leading source for news, analysis, and research related to the market for regulated online gaming in the United States. With a presence in over two dozen states, PlayUSA.com and its state-focused branches, including PlayVirginia.com, produce daily original reporting, publish in-depth research, and offer player advocacy tools related to the advancement of safe, licensed, and legal online gaming options for consumers. Based in Las Vegas, the PlayUSA Network is independently owned and operated, with no affiliations to any casino — commercial, tribal, online, or otherwise.

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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.”

The post Thunderkick’s portfolio makes Ontario debut through SkillOnNet brands appeared first on Gaming and Gambling Industry in the Americas.

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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.

The post Maverick Games Launches Sports Betting Operations in Ontario appeared first on Gaming and Gambling Industry in the Americas.

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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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