Canada
PlayPennsylvania.com: Sports wagering falls to lowest level since July 2020
Pennsylvania’s sports betting volume slipped in July to the lowest level since July 2020, falling to $304 million and continuing a slowing trend in July that has affected nearly every major U.S. market, according to PlayPennsylvania, which tracks regulated online gaming and sports betting in the state.
“Even with the NBA Finals and the Olympics to help boost the schedule this year, bettors in Pennsylvania and beyond just don’t engage sportsbooks as much during July,” said Dustin Gouker, lead analyst for the PlayUSA.com network, which includes PlayPennsylania.com. “This year in particular saw a surge in nationwide travel, which means people were occupied with family vacations and other summer activities. That said, sportsbooks cannot wait for football season to ramp up.”
Bettors placed $304.4 million in wagers at Pennsylvania’s online and retail sportsbooks in July, down 27.6% from $420.2 million in June, according to official data released Monday. July’s handle was up 84.7% from $164.8 million in July 2020, which was the last month with a handle of less than $364 million and featured the relaunch of baseball and the NBA after a months-long hiatus.
Lower volume sapped gross gaming revenue, which fell 35.3% to $27.5 million from $42.5 million in June, but up 101.3% from $13.7 million in July 2020. The month’s gross receipts led to $19.9 million in taxable revenue, which yielded $6.8 million in state taxes and $397,124 in local share assessments.
The drop in wagering has historical context. July was the lowest volume month in the U.S. in both 2018 and 2019, before the pandemic permuted sports betting data in 2020.
“The time zone difference dampened interest in the Olympics, but they were likely never going to move the needle significantly anyway,” said Valerie Cross, analyst for PlayPennsylvania.com. “The Phillies playing better almost certainly helped. But seasonal dips this time of year are nothing to be concerned about.”
Online betting accounted for $275.4 million in wagers, making up 90.5% of the state’s total handle in July. Once again, FanDuel topped the online market with $106.7 million in online wagering — down 34.3% from $162.5 million in June but capturing 38.7% of all online wagers in July. FanDuel’s gross gaming revenue from online betting fell to $12.3 million from $19.7 million in June, yielding $9.5 million in taxable revenue.
DraftKings followed with a $66.2 million handle, down from $86.0 million in June. July’s handle produced $4.0 million in gross revenue, down from $6.4 million in June, and $2.8 million in taxable revenue.
Penn National’s Barstool-branded app finished fourth in the state, behind BetMGM, with a $24.5 million handle in July, down from $31.9 million in June. Those bets led to $2.3 million in gross revenue and $1.7 million in taxable revenue.
The online leaders were followed by:
- BetMGM ($29.0 million handle, down from $37.4 million in June; $2.3 million in gross gaming revenue, up from $2.2 million)
- BetRivers ($14.5 million handle, down from $18.5 million; $1.3 million GGR, down from $1.4 million)
- Fox Bet ($10.0 million handle, down from $12.6 million; $709,376 GGR, down from $934,728)
- SugarHouse ($9.0 million handle, down from $11.3 million; $680,099 in GGR, down from $918,873)
- Parx Casino ($7.9 million handle, down from $9.8 million; $745,087 GGR, down from $1.1 million)
- Unibet ($4.5 million handle, down from $4.7 million; $316,936 GGR, down from $376,848)
- TwinSpires ($2.1 million handle, down from $2.2 million; $179,276 GGR, down from $194,104)
- Caesars ($947,532 handle, down from $1.5 million; -$126,967 GGR, down from $56,986)
- Wind Creek ($406,259 handle, down from $771,648; $6,284 GGR, down from $33,801)
- Betway ($563,481 handle; up from $14,883; -$32,239 GGR, down from $3,655)
Meanwhile, retail sportsbooks took in $29.0 million in wagers in June, down from $40.9 million in June. Those bets yielded $2.7 million in gross gaming revenue, down 45.4% from $4.9 million in June. Rivers Philadelphia topped the retail market with $5.9 million in bets, ahead of Parx Casino’s $4.0 million handle.
“The pandemic will continue to be the most important factor for the retail market for the foreseeable future,” Gouker said. “As the latest surge shows, the hope that retail sports betting would return to normal by football season seems overly optimistic.”
Online casinos and poker
Gross gaming revenue from online casinos and poker rooms rose 3.6% to $104.5 million from $100.8 million in June. Year-over-year, iGaming gross revenue is up 52.9% from $68.4 million in July 2020. July marks the fifth straight month surpassing $100 million in gross revenue.
July’s gross revenue was whittled to $88.7 million in taxable revenue, down from $88.9 million in June. That still produced $38.2 million in state and local taxes.
Online casinos and poker rooms have now produced $508.1 million in state and local taxes over the more than two years since launching in July 2019. Only New Jersey has wrung more tax revenue from online casinos and poker with $662.6 million — but that market launched in November 2013, nearly six years before Pennsylvania.
“As closely as it now tracks with New Jersey, no state benefits more from online gambling than Pennsylvania,” Cross said. “There was a lot of concern in the industry that regulators had initially set tax rates too high, and a slow start to the industry seemed to back that up. Now it seems that Pennsylvania’s aggressive taxing has been a clear win for the state.”
Other highlights from July:
- Wagering on online casino games reached $3.2 billion in July, down from $1.8 billion in July 2020.
- Online casino and poker rooms generated $3.4 million in gross gaming revenue per day over the 31 days of July, even with June.
- Penn National, which includes the DraftKings, BetMGM, Barstool, and Hollywood casinos, topped the market with $36.9 million in revenue. Rivers Philadelphia, which includes SugarHouse, Borgata, and BetRivers casinos, was second with $30.9 million.
- Poker generated $2.6 million in revenue, down from $3.0 million in July 2020. Mount Airy/PokerStars topped operators with $2.0 million.
NorthStar Gaming Holdings Inc. announced that the company has, subject to final approval of the TSX Venture Exchange, entered into a credit agreement (the “Credit Agreement”) in respect of a senior secured first lien term loan facility providing for loans in an aggregate principal amount of up to $43.4 million CAD (being the approximate equivalent of $30,000,000 USD) (the “Credit Facility”) to be made available by Beach Point Capital Management LP (“Beach Point”). Playtech plc (“Playtech”) and certain Playtech subsidiaries have agreed to provide credit support for certain obligations under the Credit Facility. The Credit Facility represents a significant milestone for NorthStar, strengthening its balance sheet and enabling the Company to continue to accelerate its growth initiatives.
“This is a pivotal moment for NorthStar, marking the largest financing in our history. This Credit Facility strengthens our balance sheet and directly supports our ability to scale operations and drive the business towards profitability with a single-minded focus. We are grateful to Beach Point Capital Management for their trust in our strategy and vision. We are also thankful for Playtech’s steadfast partnership which was instrumental in securing this funding, reinforcing their value both strategically and as a technology provider,” said Michael Moskowitz, Chair and CEO of NorthStar.
“Beach Point has deep experience investing across the gaming sector and is excited to partner with NorthStar to support their strategic initiatives. The online gaming sector has been growing rapidly, and this investment reflects our confidence in the Company’s leadership, market potential, and ability to deliver long-term sustainable growth. Likewise, we value the partnership with Playtech, who are contributing their leading technology, global reach, and strategic vision towards NorthStar’s continued success,” said Gabriel Fineberg, Managing Director at Beach Point.
The purpose of the Credit Facility is to support NorthStar’s continued growth by significantly strengthening the Company’s balance sheet. The Company will use the proceeds of loans made pursuant to the Credit Facility: (i) to repay the aggregate $9.5 million CAD principal amount (plus accrued interest) loaned to the Company by Playtech pursuant to unsecured, interest-bearing promissory notes dated April 25, 2024, September 13, 2024 and December 16, 2024; (ii) to fund an interest reserve account in respect of the Credit Facility in an amount equal to $7,000,000 CAD; (iii) for working capital and general corporate purposes; and (iv) to pay transaction costs in connection with the Credit Facility.
The post NorthStar Gaming Announces $43.4 Million Long-Term Debt Financing appeared first on Gaming and Gambling Industry in the Americas.
The award-winning game studio will deliver titles to players in the UK, Canada and Latin America
Playson, the accomplished digital entertainment supplier, has forged a major global content deal with Light & Wonder to significantly enhance the reach of its extensive games portfolio.
This landmark agreement will enable Light & Wonder’s expansive operator network across the UK, Canada, and Latin America to gain access to Playson’s engaging offering.
UK-based operator Dazzletag Entertainment Ltd was the first to go live with the studio’s creative releases last month, with SUPERCHARGED CLOVERS: HOLD AND WIN and 3 POTS RICHES: HOLD AND WIN launched across its online casino brands.
Light & Wonder’s content marketplace is utilised by some of the biggest operator brands from across the globe, providing them with access to more than 3,500 games from a host of third-party studios to allow them to build personalised, mobile-ready player experiences and stay ahead of regulatory changes.
The partnership signifies the strength of Playson’s reputation as a respected and highly sought-after provider to operators globally, as the rising demand for its games looks set to take the studio to new heights for 2025.
Blanka Homor, Sales Director at Playson, said: “Our deal with Light & Wonder is a major milestone in our strategic roadmap, as we embark on the next chapter of our global growth. This agreement expands our reach and allows us to deliver our appealing titles to new operators and players.
“The launch of our titles across Dazzletag’s two brands is a great start, and we are confident this relationship will further elevate our presence in the ever-evolving online casino space.”
Steve Mayes, Senior Director of Partnerships at Light & Wonder, said: “We are delighted to be working with such a highly respected digital entertainment provider and deliver their portfolio to our network. This strengthens our commitment to offering operators the best game releases available.
“We look forward to other successful launches in 2025, as we continue to support our operators with diverse content.”
The post Playson signs agreement with Light & Wonder in global distribution deal appeared first on European Gaming Industry News.
Blanka Homor Sales Director at Playson
Playson strengthens Canadian footprint with Titanplay partnership
Playson, the established digital entertainment supplier, has secured its latest partnership in Canada after launching its games portfolio with rising iGaming operator Titanplay.
After obtaining its Ontario licence and going live in June earlier last year, Titanplay has made impressive strides in a short space of time with its online casino offering resonating with players across the province.
The agreement sees Playson support Titanplay’s ongoing expansion across Ontario with the supplier’s industry-renowned Hold and Win portfolio now available on the operator’s website, integrated via Relax Gaming’s aggregation platform.
Titles including Coin Strike: Hold and Win, Diamonds Power: Hold and Win and Pink Joker: Hold and Win will enable players to enjoy a feature-led, captivating gameplay experience and expand Titanplay’s rapidly expanding portfolio.
Playson’s latest tie-up underlines its intent of further establishing its brand within Ontario after successfully entering the Canadian province back in 2022. The provider’s industry-renowned portfolio continues to drive long-term value for operators worldwide.
Blanka Homor, Sales Director at Playson, said: “We are proud of the footprint we have established in Ontario with local players truly appreciating the Playson experience. Partnering with an exciting name in the region like Titanplay allows us to accelerate our progress and bring our premium offering to an increased pool of players.
“We look forward to gauging the response from Titanplay enthusiasts and watching this partnership grow from strength to strength.”
Titanplay management commented: “At Titanplay, we pride ourselves with working with industry-renowned names and partnering with Playson seamlessly fits into our plans of becoming a household name in Ontario and across Canada.
“Our portfolio will undoubtedly be elevated by Playson’s Hold and Win collection, offering players a dynamic offering of feature-filled, graphically advanced titles.”
The post Playson strengthens Canadian footprint with Titanplay partnership appeared first on Gaming and Gambling Industry in the Americas.
Why stakeholders must be vocal as part of UKGC consultation on gaming machines
Pateplay’s newest partner in Bosnia and Herzegovina
GoldenRace fuels growth in Europe with renewed MGA certification
1spin4win records outstanding 42% growth in bet count for 2024
Slotegrator releases definitive guide to online casino KPIs
Saracen Casino Resort Chooses QCI Chatalytics to Enhance Casino Operations with Integrated AI Solutions
WA.Technology makes its debut in Brazil’s regulated market
EGT Digital’s top-performing titles are live on the leading Colombian betting site Betplay
BETBY TO INTRODUCE INDUSTRY-FIRST AI-BASED FEED AT ICE BARCELONA
Esports Highlights: Trends to Watch in 2025
-
gaming2 years agoODIN by 4Players: Immersive, state-of-the-art in-game audio launches into the next generation of gaming
-
EEG iGaming Directory8 years ago
iSoftBet continues to grow with new release Forest Mania
-
News7 years ago
Softbroke collaborates with Asia Live Tech for the expansion of the service line in the igaming market
-
News6 years ago
Super Bowl LIII: NFL Fans Can Bet on the #1 Sportsbook Review Site Betting-Super-Bowl.com, Providing Free Unbiased and Trusted News, Picks and Predictions
-
iGaming Industry7 years ago
Rick Meitzler appointed to the Indian Gaming Magazine Advisory Board for 2018
-
News6 years ago
REVEALED: Top eSports players set to earn $3.2 million in 2019
-
iGaming Industry7 years ago
French Senator raises Loot Boxes to France’s Gambling Regulator
-
News7 years ago
Exclusive Interview with Miklos Handa (Founder of the email marketing solutions, “MailMike.net”), speaker at Vienna International Gaming Expo 2018
