Gambling in the USA
Betting on Sports America hits major leagues with sporting delegates
Teams from all of the major professional sports leagues across the US are flocking to Betting on Sports America, the biggest dedicated sports betting trade show in the country taking place at the Meadowlands Exposition Center in New Jersey from 23-25 April.
Representatives from teams in the NFL, NBA, MLB, NHL, and MLS, as well as from international leagues such as La Liga will be attending Betting on Sports America, including the Los Angeles Rams, New York Jets, Miami Dolphins, New York Knicks, Charlotte Hornets, Philadelphia 76-ers, Cleveland Cavaliers, New Jersey Devils, Texas Rangers, Philadelphia Union and New York Red Bulls.
The agenda will touch on a number of issues interesting to sports teams, such as data, integrity and sponsorship. Among the 175 speakers across the two days are: Keith Wachtel, Chief Revenue Officer and Executive Vice President at NHL; Scott Kaufman-Ross, Head of Fantasy & Gaming at NBA; Andy Levinson, SVP – Tournament Administration at PGA Tour; Dennis Drazin, CEO at Monmouth Park racetrack; Joe Januszewski, CRO at Texas Rangers; Shelly Cayette, VP, Global Partnerships at Cleveland Cavaliers; Bill Ordower, EVP and General Counsel, Major League Soccer; and Kenny Gersh, EVP Gaming & New Business, MLB.
The agenda also features three members of US sports royalty in the shape of MLB superstar Ryan Howard and Philadelphia Eagles legend Brian Westbrook, who will be discussing investment in the sports industry, and NFL record holder and Hall of Famer Morten Andersen, who will talk about the NFLâs ability to reach audiences.
Jaap Kalma, Business Development Director at conference organiser SBC (Sports Betting Community), explained: âThe response weâve had to Betting on Sports America from the sports world has been fantastic. Using our expertise in sports sponsorship elsewhere in the world where sports betting is more established, we have been able to curate a dedicated track with seven sessions that addresses various aspects of this enormous opportunity and potential issues now that sports betting is ready to explode in the US.
âDuring my time at AC Milan and Ferrari the importance of aligning your offering based on a deep understanding of sponsor markets was a key element of the job and it will be no different in the US.â
Following the PASPA decision, the number of states now regulating sports betting is expanding at an incredible pace and opportunities are opening across the country.
Sports leagues and sports teams obviously have an intrinsically close relationship with the betting industry. The betting & gaming category brings enormous revenue to sports in Europe, through sponsorship or other commercial partnerships ranging from data provision to hospitality sales.
Therefore itâs no surprise US sports teams and leagues are closely following market developments and several pioneering deals have already been announced.
Betting partnerships, however, also bring unique concerns not present in other sponsorship categories. Legal and reputation issues can make partnerships difficult, and need to be discussed and understood between the sports and betting industries in order to best capitalise on this opportunity.
Betting on Sports America is a unique event that offers just that with more than 1,500 executives from the worlds of sports betting, sports, casinos, tribes, regulators and lotteries coming together to look ahead into new US market.
The event will present 175 expert speakers across 40 sessions and 3 conference rooms to cover the most relevant topics from the emerging US sports betting market. The 61,000 sq ft large exhibition floor will bring you 60 exhibitors, world class hospitality, and the very best networking and business opportunities.
Each evening there will be complimentary dinner and drinks networking receptions at venues such as Jay Zâs 40/40 club, Meadowlands Racetrack rooftop bar, and Sky Room rooftop bar in Manhattan.
For further information about the event, check out the Betting on Sports America website.
The three Detroit casinos reported $123.86 million in monthly aggregate revenue (AGR) for the month of March 2024, of which $122.26 million was generated from table games and slots, and $1.6 million from retail sports betting.
The March market shares were:
- MGM, 46%
- MotorCity, 31%
- Hollywood Casino at Greektown, 23%
Monthly Table Games, Slot Revenue, and Taxes
March 2024 table games and slot revenue increased 3.8% when compared to March 2023 revenue. Marchâs monthly revenue was 16.7% higher than February 2024. From Jan. 1 through March 31, the Detroit casinosâ table games and slots revenue decreased by 1.6% compared to the same period last year.
The casinosâ monthly gaming revenue results were mixed compared to March 2023:
- MGM, up 4.1% to $56.65 million
- MotorCity, up 7.2% to $38.35 million
- Hollywood Casino at Greektown, down 1.4% to $27.26 million
In March 2024, the three Detroit casinos paid $9.9 million in gaming taxes to the State of Michigan. They paid $9.5 million for the same month last year. The casinos also reported submitting $14.5 million in wagering taxes and development agreement payments to the City of Detroit in March.
Monthly Retail Sports Betting Revenue and Taxes
The three Detroit casinos reported $17.25 million in total retail sports betting handle, and total gross receipts were $1.61 million for the month of March. Retail sports betting qualified adjusted gross receipts (QAGR) in March were up by 13.2% when compared to the same month last year. Compared to February 2024, March QAGR was up by $1.7 million.
March QAGR by casino was:
- MGM: $327,857
- MotorCity: $538,988
- Hollywood Casino at Greektown: $731,389
During March, the casinos paid $60,413 in gaming taxes to the state and reported submitting $73,838 in wagering taxes to the City of Detroit based on their retail sports betting revenue.
Fantasy Contests
For February 2024, fantasy contest operators reported total adjusted revenues of $405,342 and paid taxes of $34,049.
Gambling in the USA
IGT Wheel of Fortune and Powerbucks Slots Award Monumental Million-Dollar-Plus Jackpots in March
International Game Technology PLC (IGT) announced that its Wheel of Fortune and Powerbucks slots awarded four life-changing jackpots totaling more than $5 million in March.
Lucky slots players won the following million-dollar-plus jackpots last month:
- On March 8, a Wheel of Fortune slots player won $1,254,996 playing Wheel of Fortune Triple Gold Gold Spin at Beau Rivage Resort & Casino in Biloxi, Miss.
- On March 12, a Wheel of Fortune slots player won $1,635,694 playing Wheel of Fortune Triple Gold Gold Spin Megatower at The Venetian Resort Las Vegas in Nevada.
- On March 22, a Powerbucks slots player won CA$1,485,994 playing Wheel of Fortune Lucky Coins On Stage at Chances Casino Kelowna in British Columbia, Canada.
- On March 30, a Wheel of Fortune slots player won $1,172,262 playing Wheel of Fortune Gold Spin Triple Red Hot 7s at the California Hotel & Casino in Las Vegas, Nev.
IGT Powerbucks slots have paid 56 jackpots of $1 million or more since their Canadian debut in 2016. Wheel of Fortune slots have minted over 1100 millionaires and awarded over $3.5 billion in jackpots since their launch in 1996.
Gambling in the USA
Playân GO Announces Expansion of Rush Street Interactive Partnership with Pennsylvania Launch on BetRivers PlatformÂ
Swedish gaming giantsâ games now live with leading operator Rush Street Interactive Incorporated in Michigan, West Virginia, New Jersey and âThe Keystone Stateâ
Playân GO, the worldâs leading casino entertainment provider, has today announced further expansion of its partnership with leading United States operator Rush Street Interactive Incorporated (NYSE: RSI) (RSI), which operates the BetRivers platform. The Swedish gaming giantâs content is now available with BetRivers in Pennsylvania.
Playân GO has already had great success with RSI via the BetRivers brand in Michigan, New Jersey and West Virginia and this expansion sees the partnership extend to a fourth United States state. This announcement follows Playân GOâs procurement of a Pennsylvania license in March and will see BetRivers players in Pennsylvania gain access to some classic titles from the Playân GO catalogue including Reactoonz and Boat Bonanza.
Playân GO is now licensed in six United States states and is aiming to be active in every regulated market in the United States and around the world.
âWeâre excited to expand our United States offering into the great state of Pennsylvania and are proud to do so with the innovative and well-respected team at BetRivers, with whom weâve already enjoyed such great success in recent months,â the North America Commercial Director for Playân GO, Magnus Natt och Dag, said. âPlayân GO is committed to a safe, sustainable entertainment-led industry and we know that the team at BetRivers shares that same vision.â
âWeâre very happy to be expanding our partnership with Playân Go into Pennsylvania on our BetRivers platform,â the Chief Executive Officer for RSI, Richard Schwartz, said. âPlayân Go has an impressive portfolio of popular titles and we are thrilled to offer our BetRivers PA players its innovative and top-quality games.â
To find out more about working with Playân GO in the United States and other regulated markets, please visit PlaynGO. com.
-
Gambling in the USA5 days agoPlayân GO Announces Expansion of Rush Street Interactive Partnership with Pennsylvania Launch on BetRivers PlatformÂ
-
Gambling in the USA6 days agoBMM Testlabs Receives Official Accreditation to Test and Certify Payment Solutions for the Payment Card Industry Data Security Standard (PCI-DSS)
-
Latest News5 days agoPopular slot and live casino developer put pen to paper on a long-term deal with Mexican casino operator PlayUZU.
-
Latest News1 day agoLight & Wonder Taps Trustly to Power Cashless Payments at Casinos
-
Latest News6 days agoOptimove announcement: Strategic Partnership with DataDots to Accelerate Data Integration for Marketing Success
-
Latest News5 days agoPlaytikaâs Solitaire Grand Harvest Teams Up with Dr. Philâs New Merit Street Media TV Network to Inspire Viewers Through Play
-
Latest News5 days agoSTAKELOGIC INKS NEW DEAL WITH PLAYUZU TO BOOST MEXICAN PRESENCE
-
Latest News6 days agoJACK Entertainment Selects Konami Gaming as its Exclusive Casino Management System Partner