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Pennsylvania Gambling Expansion Nears $400 Million for the State in First Year

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Pennsylvania Gambling Expansion Nears $400 Million for the State in First YearReading Time: 2 minutes

 

Upfront licensing fees a short-term boon for state coffers, but revenue from gamblers will still have to wait, says PlayPennsylvania.com

 

Gambling has injected more than $385 million into Pennsylvania coffers in the first year since a law was passed to expand gambling in the state, surpassing state budget estimates. Upfront licensing fees for casinos, online casinos, and sportsbooks, as well as mini-casino auction profits and tax revenue from lottery expansion and daily fantasy sports, have combined to net Pennsylvania more than $1 million a day since late 2017, according to a recent analysis by PlayPennsylvania.com.

“The most notable aspect of the significant revenue that has been generated is that this is almost completely from fees, rather than tax revenue gained from gamblers,” said Jessica Welman, analyst for PlayPennsylvania.com. “Clearly there is enough interest in Pennsylvania’s enormous market so far to generate the fees.”

The revenue estimates were tabulated by PlayPennsylvania.com using a combination of official statistics and estimates based on iLottery, keno, and virtual sports sales numbers. A detailed accounting of the revenue generated so far can be found at playpennsylvania.com/revenue.

Using return-to-player rates of the games, PlayPennsylvania estimates that the state has collected more than $23 million in revenue from online lotto games ($19.6 million), keno ($3.6 million), and virtual sports ($87,000) through October.

Other sources of revenue so far from the law include:

  • Mini-casino auction profits, $128 million
  • Interactive gaming petitions, $94 million
  • Casino licensing, $78 million
  • Sports betting petitions, $60 million
  • Daily Fantasy Sports tax revenue, $1.4 million

By comparison to the gambling expansion, the state collected $799.8 million in taxes from statewide slot revenues in fiscal 2017-18. Pennsylvania estimated in February that the state will generate more than $34 billion in general fund revenues for its 2018-19 fiscal year.

“If the point of the expansion was to fill short-term gaps in the state’s budget, then the expansion would have to be considered a success so far,” Welman said. “We believe that the gambling expansion will eventually prove to be a winner for the state’s budget, but the long-term picture is less certain. More casinos and sportsbooks must open before we get a clear picture of whether Pennsylvania’s relatively steep tax rates and license fees will produce the desired outcome.”

With the November opening of the sportsbook at Hollywood Casino at Penn National, the rollout of sports betting is just beginning in Pennsylvania. More openings are expected in December and January, too.

In addition, Pennsylvania should begin adding revenue from online gambling in early 2019, and further down the line, mini-casinos should enter the fray.

“The addition of retail sports betting should help buoy a slowing Pennsylvania casino industry,” said Dustin Gouker, lead sports betting analyst for PlayPennsylvania.com. “If New Jersey is any indication, though, the more significant revenue generator will be online sports betting. A successful rollout there should generate millions of dollars in tax revenue for the state.”

 

About The PlayUSA Network:
The PlayUSA Network and its state-focused branches (including PlayNJ.com, PlayNY.com, PlayPennsylvania.com, and PlayCA.com) is a leading source for news, analysis, and research related to the market for regulated online gaming in the U.S.

 

Source: PlayPennsylvania.com


Source: European Gaming Media

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Microgaming presents a world filled with magic and enchanted riches with Book of Oz

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Microgaming presents a world filled with magic and enchanted riches with Book of OzReading Time: 2 minutes

 

Microgaming releases Book of Oz, the latest slot developed by Triple Edge Studios, an independent studio creating exclusive titles, such as Wicked Tales: Dark Red, for Microgaming operators.

Book of Oz is an enchanting five-reel, ten-payline, high-volatility online slot. Brimming with fantasy, magic and adventure, the game welcomes players into a world filled with enchanted riches.

Featuring Wilds, Scatters, Free Spins and Re-Spins, the fantasy themed slot encompasses whimsical art and captivating symbols, such as the lion of courage, the potion of love, the mystical wizard and the golden book, which are displayed on the reels to leave players spellbound as they spin to win magnificent rewards.

The Wizard’s Book acts as both a scatter and a wild, which can result in powerful wins. Three or more Book Scatter Symbols trigger 10, 12 or 25 free spins, providing players with the opportunity for more frequent feature triggers. High-paying expanding and illuminating symbols can potentially trigger wins of up to 5,000 times the initial bet in free spins.

The game’s Re-spin feature adds an element of thrill and excitement to the base game. After an initial wager, the player can pay to respin a single reel independently at an additional variable cost; for example, after a winning spin of four-of-a-kind Wizard symbols, the player can pay to spin the fifth reel to try to get five of a kind. Players can develop their own strategy within the base game after every result, including the opportunity to land more Wizard’s Book symbols to uncover the enchanted story within free spins.

Emerald riches lie in wait for players in Book of Oz, which will be available exclusively for Microgaming operators across desktop and mobile platforms from Tuesday 11 December.

“We are extremely excited to release Book of Oz, our fifth game this year under the Triple Edge Studios brand. This has been the most fun we’ve had developing a game and the Re-spin feature is a brilliantly fun addition. Bespoke hand-painted art was created to help tell our fantastical tale. Infused with fantasy and adventure, Book of Oz will leave players spellbound. Stay tuned for more exciting games from us in the future, which we will be supplying exclusively for Microgaming.” – Brendan Walton, Design Lead at Triple Edge Studios.

“Book of Oz is another fantastic creation by Triple Edge Studios enriched with magical artistry and packed with rich game mechanics. Players can listen to an intriguing soundtrack while immersing themselves in the game to uncover an enthralling storyline as they play. The Re-Spin feature adds a new dynamic twist to the overall gameplay, enhancing the level of engagement and it combines extremely well with the win potential in the game, where players can win up to 5,000 times their bet.” – David Reynolds, Games Publisher at Microgaming


Source: European Gaming Media

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Sportradar signs multi-year partnership with NASCAR

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Sportradar signs multi-year partnership with NASCARReading Time: 2 minutes

 

NASCAR has shown a strong commitment to protecting the integrity of their sport by announcing a multi-year partnership with Sportradar’s Integrity Services, the world’s leading supplier of sports betting-related monitoring, education, investigation and consultancy services.

 

As part of the agreement, Sportradar’s Fraud Detection System (FDS) will monitor domestic and global betting activity for signs of nefarious activity for all races across NASCAR’s three largest events: Monster Energy NASCAR Cup Series, NASCAR Xfinity Series and NASCAR Camping World Truck Series. Sportradar’s FDS is currently used by over 75 sports bodies around the world – including the NBA, NHL, MLS, FIFA and MotoGP.

NASCAR will also benefit from Sportradar’s Education and Prevention Services. This will include on-site workshops for NASCAR drivers, teams, officials and associated stakeholders delivered by Sportradar’s integrity and educational experts. In addition, Sportradar’s Integrity Services will also help NASCAR develop a fully-fledged betting integrity program, including robust betting-related rules and policies.

Sportradar’s Director, Global Strategy of Integrity Services, Andy Cunningham said: “We are honoured and excited to partner with NASCAR in what is an important time for US sports following the Supreme Court sports betting case decision earlier this year. We look forward to supporting NASCAR in installing a best-in-class integrity framework to protect their sport and its constituents.”

NASCAR VP of Global Media Strategy and Distribution, Brian Herbst, said: “It is critical to be proactive in developing safeguards that protect NASCAR’s on-track product from any potential integrity threats. Sportradar is the leader in this space and knowing that our races will be monitored extensively, while also equipping our industry with the tools and knowledge they require, gives us peace of mind in being able to preserve the integrity of NASCAR as the US wagering market continues to open.”

ABOUT NASCAR
The National Association for Stock Car Auto Racing, Inc. (NASCAR) is the sanctioning body for the No. 1 form of motorsports in the United States. NASCAR consists of three national series (Monster Energy NASCAR Cup Series™, NASCAR Xfinity Series™, and NASCAR Gander Outdoors Truck Series™), three regional series, one local grassroots series, three international series and the Automobile Racing Club of America (ARCA). The International Motor Sports Association™ (IMSA®) governs the IMSA WeatherTech SportsCar Championship™, the premier U.S. sports car series. Based in Daytona Beach, Fla., with offices in eight cities across North America, NASCAR sanctions more than 1,200 races in more than 30 U.S. states, Canada, Mexico and Europe. For more information visit www.NASCAR.com.


Source: European Gaming Media

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Calgary set to welcome eSports events

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Calgary set to welcome eSports eventsReading Time: 1 minute

 

The Calgary eSports League is teaming up with Telus Spark to bring competitive video-game events to Calgary. If successful, the industry can produce revenues of more than $1-billion next year.

Unlike cities including Toronto and Vancouver, Calgary has yet to establish a firm eSports community beyond a few Facebook groups and clubs.

Wes Nelson, spokesman for the Calgary eSports League, said he sees a market for the sport in Calgary.

“Almost all of the elements are in place for a healthy eSports community in Calgary, they just need to be brought together and given a boost in order to thrive,” Nelson added.

eSports offers a platform for the players to interact with the fans. On YouTube, where games are often streamed, five of the top 10 most popular and top-earning YouTubers make their money from video games.

There is a chance that eSports viewership to surpass the National Football League in total viewership by 2022, the Calgary league said.


Source: European Gaming Media

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