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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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Digitain Secures Greentube Distribution Deal

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Digitain Secures Greentube Distribution DealReading Time: 1 minute

 

Digitain, the multi-channel sports betting and casino platform provider, announced its new partnership with the NOVOMATIC Interactive division – Greentube. An outstanding selection of Greentube’s market-leading slots is now available on the Digitain platform, for distribution to regulated online casinos in Armenia.

Digitain’s Chief Commercial Officer, Suren Khachatryan, said: “We are delighted to secure this partnership agreement with Greentube. They are without question one of the market-leading premium slots games providers with a global reputation for innovation and quality engagement for slots players. Our first licensee to go live shall be Totogaming, one of Armenia’s leading iGaming operators and they will be able to offer classic NOVOMATIC slots such as Lucky Lady´s CharmTM deluxe, Sizzling Hot TM deluxe, Apollo God of the Sun and Book of RaTM Magic, as well as other exciting gaming content.“

Daniel Lechner, Greentube Head of Sales, added: “We are more than excited to work together with Digitain and provide our wide range of games to players in Armenia. Moreover, we are certain, that this is only the first step in a long-lasting, strategic partnership, giving us the opportunity to grow together into further markets. The speed of the technical integration was outstanding – making it one of the fastest integrations we have ever completed.”


Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Digitain Secures Greentube Distribution Deal

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Microgaming makes its debut in the Czech Republic

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Microgaming makes its debut in the Czech RepublicReading Time: 2 minutes

 

Microgaming’s celebrated content has gone live in the Czech Republic, with a range of the leading software supplier’s most popular games now available through Tipsport, with more operators to follow in due course.

Microgaming’s entrance into the Czech Republic continues a well-executed strategy of expansion into key regulated markets around the world, following successful entries into Colombia, Bulgaria and Denmark in 2018, and Sweden at the beginning of the current year.

Devised specifically for the Czech Republic market, a tailored software solution will offer customers of Tipsport, one of the country’s leading operators, access to an extensive selection of titles from Microgaming’s innovative, diverse portfolio of premium casino games, with more content to be added in the near future.

“We are excited to be extending our offering into the regulated market of the Czech Republic. Tipsport are a major operator in the region, and a leader in the European sports betting industry as a whole. We are delighted to begin a partnership with them that will provide their customers with an expanding library of our best online slot gaming content.” – said Andrew Clucas, Chief Operating Officer at Microgaming.

“With the addition of Microgaming’s exceptional casino titles, we look forward to seeing players enjoy a wealth of thoroughly entertaining gaming experiences. Our partnership with Microgaming signals our commitment to diversifying our product offering, providing players in the Czech Republic with access to the largest and most diverse online gaming portfolio in the industry.” – concluded Jiří Švarc, Director of Online Casino at Tipsport.

 

For more information about the Czech market market make sure you don’t miss the 2019 edition of Prague Gaming Summit, which has the aim to give a quality report on the activity of the industry in the Czech Republic and neighboring countries such as Slovakia, Poland and a special DACH regional panel discussion.

 

About Microgaming:

Microgaming developed the first true online casino in 1994. It has been breaking records, breaking new ground and breaking its back in pursuit of original gaming ever since. Developer of thousands of unique, genre-defining casino, mobile, poker, bingo, land-based and multiplayer games, and a pioneer in virtual and wearable gaming, the software giant hosts the world’s largest progressive jackpot network. Its products include Live Dealer, Sportsbook, Business Solutions and Quickfire. Microgaming is an award winner. A millionaire maker. The father of player protection and responsible gaming. And through Microgaming PlayItForward, it is a pillar of its local community on the Isle of Man.

About Tipsport:

As the market leader, Tipsport is pushing the boundaries of sports betting, developing largest active online betting community in the region, with unique approach to its clients – encouraging them to share expertise, copy tickets and develop winning strategies. Established as a regional company in 1991 with just one branch, Tipsport quickly became an international holding company and the leading bookmaker in Central and Eastern Europe. With turnover of over EUR 2bln/year, the group currently employs more than 3,000 people at Tipsport and Chance in the Czech Republic and Tipsport in Slovakia. As the overwhelming majority of bets are placed online, the company’s main focus is technology. Thanks to its unique in-house solutions, Tipsport is now the No.1 sports betting operator in the Czech Republic and one of the major players in Europe. Recently, the company has firmly established itself also in the field of online casino games, now its fastest growing segment.


Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Microgaming makes its debut in the Czech Republic

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Bede Gaming set for Spanish expansion

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Bede Gaming set for Spanish expansionReading Time: 2 minutes

 

Provider is building on established market presence with fully-licensed and scalable platform

 

Bede Gaming, the award-winning supplier of software to the online gaming industry, is to kick-start 2019 with a concerted expansion in Spain.

The Bede platform is fully-licensed by the DGOJ, the Spanish gaming authority, and features a wide range of cutting-edge, proactive marketing tools alongside a portfolio of more than 3,000 games and two direct sportsbooks with Kambi and SBTech live on the platform.

Responsible gambling is central to the Bede platform, with deposit limits and automated flagging of players displaying signs of problem gambling behaviour setting it apart as the safest place to play.

Ross Haselhurst, Commercial Director, Bede Gaming, said: “Spain is a core target market for Bede as we look to capitalise on the significant commercial momentum of our platform. Spanish operator groups are well placed to take advantage of the transformative impact our vast range of high-quality content and powerful automated marketing tools can have, and we are enthused by the possibilities as we push further into the market.

“We are seeing more and more operators that are looking to expand their footprint but find themselves crippled by the resources required to service new markets while maintaining performance in their core markets. By offering a direct and single route into the Spanish market, we’re predicting significant growth for Bede and our partners in the months to come.”

The growth opportunity in the Spanish market is clear, with online GGR rising 30% year-on-year during Q3 2018 according to the DGOJ.

The provider’s technology is already live in the Spanish market with leading operator Enracha.

Bede has enjoyed a strong period of commercial growth, having been selected by the Ontario Lottery and Gaming Corporation in September 2018 to provide the lottery’s new enterprise-wide digital platform.

This agreement came alongside a series of recent content integrations with leading providers including Play’n GO and SBTech.


Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Bede Gaming set for Spanish expansion

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