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Q1 2024 Commercial Gaming Revenue Sets New Quarterly High, Marks 13th Straight Month of Industry Growth

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AGA State of the States Report Shows Record $14.67 Billion in 2023 Commercial Industry Tax Contributions.

U.S. commercial gaming revenue reached a quarterly record of $17.67 billion in Q1 2024, the industry’s 13th consecutive quarter of growth, according to the American Gaming Association’s (AGA) Commercial Gaming Revenue Tracker. The quarter was punctuated by March revenue of $6.09 billion, the industry’s second-highest grossing month ever.

 

 

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“While gaming’s momentum remains strong, 2024 will be the new baseline for future growth after several years of sports betting legalization and post-pandemic consumer shifts,” said AGA President and CEO Bill Miller. “Gaming’s continued growth relies on maintaining our commitment to innovation and responsibility.”

Commercial Gaming Revenue Tracker Highlights

Across the country, 11 state gaming markets set new quarterly revenue records, including Pennsylvania and New York, two of the nation’s largest commercial gaming markets.

Both retail and online gaming saw annual growth in Q1 2024, though at slower rates than in previous quarters. Retail gaming accounted for 70.7 percent of total revenue while online gaming represented its largest share ever, 29.3 percent. Looking closer at each sector:

  • Traditional Gaming: Traditional brick-and-mortar casino gaming generated quarterly revenue of $12.34 billion, a modest increase of 0.3 percent year-over-year that was hampered by severe January weather in regional gaming markets nationwide.
  • Legal Sports Betting: Americans wagered a first-quarter record $36.86 billion on sports in Q1, generating $3.33 billion in quarterly revenue (+22.0% year-over-year). The growth compared to Q1 2023 was in part driven by new market launches in Kentucky, Maine, North Carolina and Vermont.
  • iGaming: iGaming grossed an all-time high of $1.98 billion in Q1, a 26.1 percent year-over-year increase bolstered by Rhode Island’s iGaming market launch in March.

State of the States 2024

The AGA also released its annual State of the States report today, which provides the definitive state-by-state economic and regulatory analysis of U.S. commercial gaming in 2023 for policymakers, gaming stakeholders and industry observers.

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State of the States 2024 details the record $14.67 billion in direct gaming tax revenue paid to state and local governments by commercial gaming operators in 2023—up 9.7 percent from 2022. This does not include the billions more paid in income, sales or other taxes.

“As gaming expands, more communities than ever are benefiting,” continued Miller. “We are proud to create jobs across the country, provide world-class entertainment experiences that offer safe alternatives to the pervasive illegal gambling market, and generate tax revenue to support critical public projects.”

 

Background

  • AGA’s Commercial Gaming Revenue Tracker provides state-by-state and cumulative insight into the U.S. commercial gaming industry’s financial performance based on state revenue reports. This issue highlights Q1 2024 results.
  • 37 states and the District of Columbia featured operational commercial gaming markets in Q1 2024, including casino gaming, sports betting and iGaming.
  • AGA’s State of Play Map charts gaming’s economic impact, industry regulations and casino locations on a state-by-state basis for both the commercial and tribal gaming sectors.

 

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ACR POKER HOSTS DUAL VENOM TOURNAMENTS THIS APRIL WITH $12 MILLION IN TOTAL GUARANTEES

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Building on the success of its Mystery Bounty Venom events in February, which awarded more than $10 million in prize pools and attracted players from over 70 countries, ACR Poker is gearing up for another action-packed doubleheader this spring, featuring Dual Venom tournaments with $12 million in total guarantees.

NLH and PLO players can take their shot in two massive Venom events: the $10 million guaranteed NLH and the $2 million guaranteed PLO, both starting on Sunday, April 13th at 1:05pm ET.

“Playing in prestigious events like the Venom is one of the best ways to sharpen your skills and feel the thrill of big poker,” said ACR Pro Chris Moneymaker. “With both the NLH and PLO Venoms running side by side, $12 million in guarantees on the line and lots of affordable ways to qualify, this is your chance to get in on the action. See you at the tables.”

The $10 million guaranteed NLH Venom spans four days, starting with the first of five Day 1 flights on Sunday, April 13th. Advancing players will battle through Day 2 on Monday, April 28th and Day 3 on Tuesday, April 29th, leading to a thrilling Final Table on Wednesday, April 30th at 4:05pm ET.

Last April, four-time WSOP bracelet winner Dominik ‘Texxassss’ Nitsche from Germany outlasted a massive field of 5,045 entries, walking away with over $1.8 million. Who will claim the NLH Venom title this year?

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Omaha fans can also mark their calendars for the 3-day PLO Venom, featuring a $2 million guarantee and five Day 1 options. It kicks off with Day 1A on Sunday, April 13th, followed by Day 2 on Monday, April 28th, and the final table on Tuesday, April 29th.

Players can stay updated and easily add both Venom events to their calendar via ACR Poker’s online tournament schedule.

The direct buy-in of each Venom is $2,650, but players have the chance to qualify for as little as $0 through ACR Poker’s Venom Fever Satellites, which guarantee over 1,000 Venom seats across The Beast, Venom Madness, Direct and Mega satellites.

In addition to the flagship Venom tournaments, players can dive into ACR Poker’s revamped tournament schedule, compete in the Online Super Series with $25 million in guarantees, and take their shot at the $500,000 guaranteed Venom Warmup in April with just a $66 buy-in.

For more information on the Dual Venom tournaments, visit ACRPoker.eu.

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The post ACR POKER HOSTS DUAL VENOM TOURNAMENTS THIS APRIL WITH $12 MILLION IN TOTAL GUARANTEES appeared first on Gaming and Gambling Industry in the Americas.

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Latin America

SharpLink Gaming Reports Full Year 2024 Financial Results

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SharpLink Gaming, Inc., an online performance-based marketing company serving the U.S. sports betting and global iGaming industries, today announced its financial results for the full year ended December 31, 2024.

Financial Highlights

  • Revenues declined 26.1% to $3,662,349 in 2024 from $4,952,725 in 2023.
  • Total operating expenses dropped 45.6% to $5,669,248 for the 12 months ended December 31, 2024 compared to $10,425,865 for the same 12-month period in 2023.
  • Net income rose to $10,099,619, or $2.29 income per share, from a net loss of $14,243,182, or $5.19 loss per share, for the years ended December 31, 2024 and 2023, respectively.
    • Net income from discontinued operations, net of tax, totaled $14,573,262 in 2024, which was up 586.7% from a net loss from discontinued operations, net of tax of $14,243,182 for the prior year.
    • Net loss from continuing operations for the 12 months ended December 31, 2024 totaled $4,473,643, representing a 60.2% decrease when compared to a net loss from continuing operations of $11,248,598 for the 12 months ended December 31, 2023.
  • As of December 31, 2024, cash on hand was $1,436,729, a 42.2% decrease when compared to cash on hand of $2,487,481 as of December 31, 2023. Total stockholders’ equity was $2,082,869 as of December 31, 2024, which compared to a total stockholders’ deficit of $9,399,769 as of December 31, 2023. From May 2024 through to February 6, 2025, the Company raised gross proceeds, in aggregate, of $1,834,925 pursuant to its At-The-Market Offering, offered under its initial and supplemental prospectuses filed with the U.S. Securities and Exchange Commission – of which $896,215 in gross proceeds were raised as of December 31, 2024 and the remaining $938,710 was raised in early 2025.

2024 Operational Highlights

  • On January 18, 2024, SharpLink completed the sale of its Sports Gaming Client Services and SHGN businesses to RSports Interactive, Inc. for $22.5 million in an all-cash transaction.
  • Immediately following the sale, SharpLink used a portion of the proceeds from the sale to retire approximately $19.4 million, in aggregate, in outstanding debt obligations, thereby eliminating all interest-bearing debt on its balance sheet.
  • On February 13, 2024, completed domestication merger with SharpLink Gaming, Ltd., changing from an Israel limited liability company to a Delaware corporation.
  • In February, established new Board of Directors for SharpLink Gaming, Inc. with the appointments of Rob Phythian as Chairman and Leslie Bernhard, Obie McKenzie and Robert Gutkowski as new independent members of the Board.
  • In July, announced that the Board of Directors had initiated a formal review process to evaluate strategic alternatives for the Company, including, but not limited to, a sale, merger, strategic business combination or other transaction, which the Board and management felt offered the best opportunities to operative SharpLink’s affiliate marketing business, drive growth and create and maximize value for the Company’s stockholders.
  • Subsequent to the end of the year, in February 2025, SharpLink announced that the Company acquired a 10% equity stake in U.K.-based Armchair Enterprises Limited (“Armchair”), which owns and operates CryptoCasino.com. The acquisition was made for $500,000 in cash, along with a right of first refusal to acquire a controlling interest in Armchair.

Rob Phythian, Chairman and CEO of SharpLink Gaming, stated, “As I reflect on our financial results for 2024, I am proud of the decisive actions our leadership has taken to streamline and focus SharpLink’s business operations and position our Company for future growth. The successful sale of our fantasy sports and sports game development businesses and the elimination of our debt marked pivotal moments in our journey. Looking ahead, we remain committed to exploring strategic opportunities that will enhance our affiliate marketing business and increase stockholder value. Our recent investment in Armchair Enterprises is a testament to our proactive approach to identifying and capitalizing on emerging trends in the iGaming space.”

“In particular, we see significant potential in blockchain technologies, which are poised to revolutionize the global digital gaming sector. The transparency, security and efficiency offered by blockchain can enhance user experiences and foster trust within the online gaming community. By embracing these advancements, we believe we can unlock new avenues for growth and makes strides forward in positioning SharpLink as a recognized leader in the markets we serve,” concluded Phythian.

The post SharpLink Gaming Reports Full Year 2024 Financial Results appeared first on Gaming and Gambling Industry in the Americas.

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Conferences in Europe

2025 Gaming in Holland Conference announces headline speakers

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The 2025 Gaming in Holland Conference, which will take place June 5, 2025, at the KIT Royal Tropical Institute in Amsterdam, is proud to announce its first confirmed speakers.

The Gaming in Holland Conference is THE place to meet the key decision makers in the Netherlands’ regulated gambling market.

 

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First speakers announced

We are very happy to welcome the following key decision makers to our speaker line-up:

  • Arjan Blok, CEO, Nederlandse Loterij
  • Renske Fikkers, Head of Market Supervision, Netherlands Gambling Authority
  • Justin Franssen, Partner, Franssen Tolboom Advocaten
  • Dr. Andreas Ditsche, CEO, iGaming.com
  • Josh Hodgson, COO, H2 Gambling Capital

 

About the 2025 GiH Conference: A Change is Gonna Come?

Recently, Teun Struycken, State Secretary for Legal Protection, announced a far-reaching revision of the Dutch Remote Gambling Act.

This month, the Dutch Lower House will hold roundtable discussions on the current state of the regulated gambling market. These roundtable discussions will be followed by an in-depth debate with the state secretary on March 27.

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Naturally, this means that there will be plenty to discuss at this year’s Gaming in Holland Conference. Don’t miss it if you want to keep abreast of the latest developments.

As always, all-day networking, our traditional canal boat tour, and networking drinks at Holland Casino are included in the event.

Last but not least, the “Dutch Online Casino of the Year” award ceremony will be part of the post-conference networking drinks. Don’t miss the festivities!

 

Registration now open

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Early bird registration is now open: https://bit.ly/GiHC2025. Don’t miss it!

The post 2025 Gaming in Holland Conference announces headline speakers appeared first on European Gaming Industry News.

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