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New Jersey Online Casino Market Heats Up as Sports Betting Takes Off

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New Jersey Online Casino Market Heats Up as Sports Betting Takes OffReading Time: 2 minutes

 

Let the games begin, NJ online casinos raked in over $26 million in gross gaming win from casino, poker, bingo, and sports betting in August 2018. There was a small slowdown in online casino revenue in August compared to July as Golden Nugget‘s group of casino operators dropped $1.15 million in gross revenue. The real winner in the market was Draftkings Sportsbook, which sits under Resorts Digital Gaming’s license, as they soared to a whopping $2.97 million in their first month of sports betting operations. A noticeable mention goes out to Hard Rock Online Casino as they saw a steady increase in revenues to generate nearly $500k in their second month of operations.

NJ Online Sports Betting Could Surpass Casino Wagering

Sports betting has the potential to be a real game changer as NJ online sports betting operators gear up and launch their products in peak football season.

The question that remains is how sports will impact casino and poker revenues – as replacement wagering or incremental. So far Sugarhouse Online Casino and Caesars Online Casino are the only operators to offer both casino and sports betting on one website, but they only launched in early September.

For now there is only one month to analyze, and we saw a 4.22% dip in casino and poker revenue from July to August as sports betting went live. However, with increased marketing coming with football season, and a turn to inclement weather in September, will this rising sports betting tide lift all boats? Based on online sports betting revenues in the first month alone, one thing seems clear – people want safe, secure, and legal ways to bet on sports online in America. The tax revenue implications as more States turn to legalization could be substantial.

“Draftkings Sportsbook looks to impress as they have a clear blueprint for success, which they could scale out nationwide,” said BonusSeeker.com Casino Editor, Anirudh Vashishth.

The regulated New Jersey online casinos generated $25.89 million gross revenue in August, up $3.21 million from the previous month.

August 2018 NJ Online Casino Revenue by numbers (in $ millions):

Casino

Golden Nugget

$8.17

Resorts

$3.37

Borgata

$4.22

Caesars

$2.76

Ocean Resort

$0.385

Hard Rock

$0.481

Tropicana

$3.59

Total

$22.99

 

Poker

Golden Nugget

$0

Resorts

$.651

Borgata

$.440

Caesars

$.725

Ocean Resort

$0

Hard Rock

$0

Tropicana

$0

Total

$1.82

 

Sports

Golden Nugget

$.103

Resorts

$2.97

Borgata

$.0496

Total

$1.85

 

Combined

Golden Nugget

$8.273

Resorts

$6.991

Borgata

$4.710

Caesars

$3.49

Ocean Resort

$0.385

Hard Rock

$0.481

Tropicana

$3.59

Total

$26.65

For more information, visit https://www.bonusseeker.com

About BonusSeeker:
BonusSeeker is a leading source for iGaming news, online games, and online-casino promotions in the U.S. regulated online gaming markets.

Source: BonusSeeker.com


Source: European Gaming Media

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AGTech Wins Technical Service Bid For Jiangsu Virtual Football Game For the Next Five Years

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AGTech Holdings Limited (“AGTech” or the “Company”, HKEX stock code: 8279) is delighted to announce that Asia Gaming Technologies (Beijing) Co., Ltd., which is a subsidiary owned as to 51% by the Group, has won the technical service tender to provide construction and development of virtual football game management system to Jiangsu Sports Lottery Administration Center (“Jiangsu SLAC”), and to set up a local technical service team to be responsible for the virtual football system installation, commissioning, third-party testing, daily operation, maintenance and product update. The service term of the project is 5 years, the project will be officially launched upon the service agreement is signed by both parties.

This successful bid is another major business development of our group in Jiangsu Province, a major sports lottery province. In 2017, Jiangsu became the first province in China to achieve RMB 20 billion in annual lottery sales, and the virtual football game made quite an important contribution. In the past three years, the game’s sales volume has grown at a compound annual growth rate of 63%, much higher than the annual compound growth rate of the national lottery market.

John Sun, Chairman and Chief Executive Officer of AGTech, said, “Once again we are pleased to  reach a cooperation with Jiangsu SLAC and continue to supply virtual football game for the next five years and provide entertainment for domestic lottery customers. Virtual football game has been launched in Jiangsu Province for five years and was well received by the market. This winning bid indicates that the maturity, reliability and after-sales service of AGTech’s series of virtual sports products have been widely recognized, we are very excited that AGTech’s brand has been deeply rooted. Our group has always been aiming to promote innovation and healthy development of the industry. We look forward to promoting virtual football and other diverse virtual sports games to the whole country, to consolidate the industry’s leading position and serve the national sports and public welfare.”

Virtual football (e-Ball Lottery) joined the Group’s exceptionally popular and highly successful Lucky Racing game as one of the only two nationally-approved, rapid-draw, fixed-odds virtual sports lottery games in China. Televised in sports lottery stores, virtual football offers customers cutting edge graphics, exciting audio commentary and provides similar betting types to another popular fixed odds sports lottery product, JingCai, such as: half time and full time outcome (win, lose, draw); correct score; total goals and accumulators. All bets offer players a most delightful fixed odds payout (i.e. not pool betting).

With the significant scale of lottery sales in Jiangsu Province, combined with Alibaba Group’s vast offline retail network, and our expertise and experience in lottery channel business, technology and data services, this continued cooperation with Jiangsu SLAC will help to further improve the overall consumption pattern and experience of sports lottery products, and promote the development of the lottery industry.


Source: European Gaming Media

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DraftKings to Open “DraftKings Sportsbook at Resorts”

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Construction Underway to Offer Premium Retail Sports Betting Experience at Resorts Casino Hotel in Atlantic City

Resorts Casino Hotel, the first casino hotel in New Jersey, today announces that construction is near completion on the DraftKings Sportsbook at Resorts, slated to open by late November 2018, pending approval from the Division of Gaming Enforcement. In partnership with DraftKings, the global sports technology and entertainment company and New Jersey’s leading online sports betting platform, the retail space will feature a best-in-class customer experience for sports fans in the Garden State.

“We are proud to partner with an industry leader in sports betting and open an innovative sports betting experience that only DraftKings Sportsbook at Resorts will offer,” said Mark Giannantonio, President and CEO, Resorts Casino Hotel. “Once completed, the new on-property retail space will bring an immersive and entertaining gaming experience for our guests and sports fans alike, ensuring the best sports betting scene in Atlantic City.”

Marking another major milestone for Atlantic City’s first casino hotel, the new DraftKings Sportsbook at Resorts will feature multiple sports and wagering options, such as live, in-game betting with five windows and 12 kiosks, offering multiple opportunities for sports fans to place their bets. Additionally, the space will offer ultra-high-definition video walls, a VIP area, comfortable stadium-style seats with chargers, and a full bar with food and beverage service and bar top electronic slots.

“We’ve been working for months with the team at Resorts to make sure the DraftKings retail sportsbook meets the highest bar for quality and customer experience,” said Matt Kalish, Chief Revenue Officer and co-founder of DraftKings. “We are tremendously excited to launch our first physical presence in the state with such a trusted partner, and to service their loyal patrons.”

For more information on the new DraftKings Sportsbook at Resorts, please visit resortsac.com/sports-betting.


Source: European Gaming Media

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Association of Gaming Equipment Manufacturers (AGEM) Releases October 2018 Index

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The AGEM Index decreased in October 2018. The composite index finished the month at 452.16 points, a decline of 40.87 points or 8.29 percent, compared to September 2018. The AGEM Index reported a year-over-year decrease for the first time after 36 consecutive months of year-over-year increases. The AGEM Index decreased by 23.18 points, or 4.88 percent, on a year-over-year basis.

During the latest period, two of the 13 global gaming equipment manufacturers reported month-to-month increases in stock price. Eleven manufacturers reported decreases in stock price during the month.

The major stock market indices saw declines during the month. The S&P 500 reported a month-to-month decrease of 6.94 percent to 2,711.74. The Dow Jones Industrial Average dropped 5.07 percent to 25,115.76, while the NASDAQ decreased 9.20 percent during the period to 7,305.90.

Positive contributors to the October 2018 AGEM Index included the following:

  • Astro Corp. (Taiwan: 3064) contributed 0.10 points due to a 15.92 percent increase in stock price to NT$ 18.20.
  • TransAct Technologies (TACT) reported a 2.08 percent increase in stock price to $14.70, contributing 0.04 points.

Selected negative contributors included the following:

  • With its stock price falling 6.82 percent to AU$ 26.50, Aristocrat Leisure Limited (ASX: ALL) contributed negative 16.39 points.
  • Crane Co. (CR) reported a 11.50 percent decrease in stock price to $87.04, contributing negative 9.67 points.

 

AGEM October 2018 Index
Association of Gaming Equipment Manufacturers. Source: Association of Gaming Equipment Manufacturers

 

AGEM October 2018 Index Association of Gaming Equipment Manufacturers – Source: Association of Gaming Equipment Manufacturers

 

Scientific Games (SGMS) recently released its financial results for the third quarter of 2018. On a year-over-year basis, revenue increased 6.8 percent from $768.9 million to $821.0 million. Net losses, however, also increased from $59.3 million to $351.6 million due to $338.7 million of restructuring and other charges, as well as an unfavorable verdict in a legal matter. Despite increased losses, consolidated adjusted earnings before interest, taxes, depreciation and amortization (consolidated adjusted EBITDA) increased by 8.9 percent from $299.0 million to $325.7 million on a year-over-year basis. Consolidated adjusted EBITDA margins also improved on a year-over-year basis, increasing from 38.9 percent to 39.7 percent.

PlayAGS Inc. (AGS) also released its third quarter financial results during the last month. Total revenue increased by 33.8 percent on a year-over-year basis, growing from $56.4 million to $75.5 million. Revenue growth is attributable to sales growth in the Canadian market and continued demand for the Orion Portrait and Orion Slant cabinet. Total adjusted EBITDA also increased by 14.2 percent on a year-over-year basis, growing from $29.4 million to $33.6 million, which was primarily driven by revenue growth. Total adjusted EBITDA margins decreased to 44 percent from 52 percent a year prior. This was primarily related to lower-margin equipment sales making up a larger portion of the company’s revenue than before.

Agilysys Inc. (AGYS) announced financial results for the second quarter of its fiscal year 2019. Total net revenue increased 13.5 percent on a year-over-year basis to a record $34.2 million from $30.1 million. Net revenue increased due to growth in third-party hardware sales and the increased number of customers. Gross profit also increased on a year-over-basis by 15.5 percent from $15.4 million to $17.7 million, and gross profit margins increased from 51.0 percent to 51.9 percent. Gross profit margins increased due to decreases in costs of goods sold for professional services and support, maintenance and subscription services. Cost of good sold did increase, however, for the products themselves.

TransAct Technologies (TACT) also released its financial results for the third quarter of 2018. Net sales increased by 2.0 percent, growing from $15.5 million to a $15.8 on a year-over-year basis. Total sales growth is primarily attributable to growth in the company’s Casino and Gaming segment, which experienced a 63 percent increase in domestic sales and a 58 percent increase in international casino and gaming sales. Gross profit increased 6.7 percent on a year-over-year basis from $7.5 million to $8.0 million, and gross profit margins increased on a year-over-year basis from 48.4 percent to 58.5 percent, which was attributed to a larger portion of higher-margin products in its sales mix and a lower share of lower-margin lottery printers in its sales mix.

The AGEM Index
The Association of Gaming Equipment Manufacturers (AGEM) produces the monthly AGEM Index that comprises 13 global gaming suppliers throughout the world. A total of eight suppliers are based in the United States and are listed on the NYSE, Nasdaq or OTC market, while two trade on the Australian exchange, one on the Tokyo exchange, and another trades on the Taiwan OTC exchange. The index is computed based on the month-end stock price (adjusted for dividends and splits) of each company and weighted based on approximation of market capitalization. Market capitalizations for manufacturers trading on foreign exchanges have been converted to US dollar-equivalents as of month-end for comparability purposes. The AGEM Index is based on a 100-point value as of January 2005.

About AGEM
AGEM is an international trade association representing manufacturers of electronic gaming devices, systems, lotteries, and components for the gaming industry. The Association works to further the interests of gaming equipment manufacturers throughout the world. Through political action, tradeshow partnerships, information dissemination and good corporate citizenship, the members of AGEM work together to create benefits for every company within the organization. Together, AGEM and its member organizations have assisted regulatory commissions and participated in the legislative process to solve problems and create a positive business environment.

AGEM Index
The AGEM index and overview is prepared by Applied Analysis (AA). AA is a Nevada-based advisory services firm providing consultation services for public and private entities. The company utilizes extensive experience in economics, information technology and finance to provide a wide range of services, including urban economic consulting, financial advisory services, market analysis, public policy analysis, hospitality industry and gaming consulting, and information system and technology consulting.

AGEM Membership Roster

AGEM Gold Members: AGS, Ainsworth Game Technology, Aristocrat Technologies, Everi, International Game Technology (IGT), Konami Gaming, Merkur Gaming, NOVOMATIC Group, Scientific Games and Sega Sammy Creation
AGEM Silver Members: Action Gaming, Aruze Gaming America, Betson Enterprises, Casino Technology, Crane Payment Innovations (CPI), Gaming Partners International (GPI), Inspired Gaming, JCM Global, Ortiz Gaming, Quixant PLC, Suzo-Happ Group, TCSJohnHuxley, TransAct Technologies and Zitro
AGEM Bronze Members: Abbiati Casino Equipment, Ace Systems Mx, Alfastreet, Amatic Industries, APEX gaming, Atlas Gaming, Astro Corp., BetConstruct, Bingotimes Digital Technology, Cammegh Limited, Century Gaming Technologies, CG Technology (CGT), Cole Kepro International, DR Gaming Technology (DRGT), Euro Games Technology (EGT), Exacta Systems, FBM, Galaxy Gaming, Gamblit Gaming, GameCo, Gaming Arts, Gaming Support, Glory Global Solutions, Grand Vision Gaming, Incredible Technologies, Interblock USA, Jackpot Digital, Jumbo Technology, Matsui Gaming Machine Co., Metronia, Patriot Gaming & Electronics, PDS Gaming, RCT Gaming, Spintec, Table Trac, Weike Gaming Technology, Wells-Gardner Technologies, Win Systems and Worldpay Gaming
AGEM Associate Members: 3M Touch Systems, Adlink Technology, Advantech-Innocore, Agilysys, ArdentSky, Arrow International, Asimex Global, Atrient, Automated Cashless Systems, Automated Systems America, Inc. (ASAI), Axiomtek, BDO USA, British Group Interactive (BGI), Capco, Carmanah Signs, Catapult Global, CDC Gaming Reports, CMC Trading Engineering (International) Ltd, Comer Holdings, Comtrade Gaming, Cooper Levenson, Deloitte LLP, Digital Instinct, DiTronics Financial Services, Dominode, Duane Morris LLP, E4 Gaming, EFCOtec Corporation, Eilers & Krejcik Gaming, Elite Gaming Technology, Fantini Research, Finnegan, Henderson, Farabow, Garrett & Dunner, Fox Rothschild, G2 Game Design, Gambling Compliance, Gamesman, Gaming Capital Group, GAN, Ganlot, Gary Platt Manufacturing, Gasser Chair Company, Genesis Interactive Technologies, GET IN Global, Global Gaming Business (GGB) Magazine, Global Gaming Group (G3), Greenberg Traurig, GSL Gaming Group, House Advantage, Howard & Howard, Impact Display Solutions, Intel, IPS, James Industries, James Industry Research Group, Jones Walker, JP Morgan Chase, KEY-BAK, Kiron Interactive, Kontron, Lazcano Sámano, Lewis Roca Rothgerber Christie, Lightstone Solutions, Majestic Realty, Millennial Esports, NanoLumens, Nanoptix, Olsen Gaming / Spectronix, Outpost Creative, Patir Casino Seating, Plus Studios, Portilla Ruy-Díaz y Aguilar, Posiflex Business Machines, Proforma GPS, Regulatory Management Counselors (RMC), Rising Digital, RMMC, RSM US LLP, SAP, SCA Gaming, Sightline Payments, Southco, Southwest Manufacturing Services, Spin Games, StylGame USA, Taft Stettinius & Hollister, Talent Associates, The Bright Group, The United States Playing Card Company, Touch Dynamic, Tournament One, TOVIS, TraffGen USA, Veridocs, Wells Fargo, Yogonet, Young Electric Sign Company (YESCO) and Zebra Technologies

For More Information, Contact:
Marcus Prater, Executive Director
P.O. Box 50049, Henderson, NV 89016-0049
702.812.6932 |


Source: European Gaming Media

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