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PlayTenn.com: Sports betting hits low in July

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Tennessee’s sportsbooks recorded their lightest volume month since the first month of operation in November 2020, as bettors found a dearth of games to bet on in July even during a month with the NBA Finals and the opening week of the Olympics. But the dip in wagers to less than $145 million comes in what will likely be the lowest volume month of the year in the U.S., and will ultimately be short-lived as the football season grows closer, according to PlayTenn, which tracks the Tennessee gaming market.

“Even with the NBA Finals and the Olympics this July, there wasn’t nearly as much to engage casual bettors as most any other month of the year,” said Jessica Welman, analyst for the PlayUSA.com network, which includes PlayTenn.com. “But sportsbooks should quickly erase any declines as those casual bettors return home from summer vacations in August and then begin to turn their attention to football.”

Sportsbooks took in $144.6 million in wagers in July, down 17.2% from $174.5 million in June, according to official data released Tuesday by the Tennessee Education Lottery and Sports Wagering Advisory Council. The pace of betting fell to $4.7 million per day over the 31 days in July from $5.8 million per day over the 30 days of June.

The dip in betting volume is in line with trends across the U.S. Every major market in the U.S. that has reported July data so far has reported a significant month-over-month decline in wagering. And removing the pandemic-altered numbers produced in 2020, July was the lowest-volume month across the U.S. in both 2018 and 2019 and appears likely to be the low again in 2021.

The good news for operators is that revenue remained high relative to the month’s slumping volume, leading to $15.2 million in gross gaming revenue, down a proportional 17.1% from $18.3 million in June. This yielded $13.4 million in taxable revenue, producing $2.6 million in tax revenue.

“All in all, the summer has gone well for Tennessee’s sportsbooks,” said Nicole Russo, analyst for PlayTenn.com. “An increased win percentage for sportsbooks has helped make up for the loss of volume. In the slower months that’s exactly what operators are hoping to see.”

This is the second-consecutive month that the combined hold — the share of wagers that sportsbooks keep on events that are completed — has been relatively high.

The hold percentage has taken even more importance for operators after last week’s recommendation by the Rulemaking Committee of the Sports Wagering Advisory Council to increase the fine for operators who do not meet that threshold over the course of a year. Currently, operators can’t be fined any more than $25,000 per year for failing to meet the 10% minimum hold. The committee wants to make assessments on a quarterly basis, holding operators liable for up to $100,000 in penalties each year for not meeting the 10% threshold.

Tennessee’s hold penalty is one-of-a-kind among U.S. markets, and so far this year operators are not on track to meet the requirement.

“It will continue to be difficult for operators to meet that hold requirement, but with a heftier fine, sportsbooks will likely be more engaged in trying to meet the threshold,” Russo said. “It was a burdensome requirement already, and the change will make it even more so.”

For operator data and more information on regulated sports betting in Tennessee, visit PlayTenn.com/revenue.

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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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