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Gambling in the USA

Indiana Sportsbooks Lose Out On $125 Million In March Wagers

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Image by David Mark from Pixabay

 

Without NCAA Tournament, NBA, baseball, and more, sportsbooks attract $75 million in bets, according to PlayIndiana

Indiana’s retail and online sportsbooks were hit hard in the first weeks of the coronavirus shutdown, costing the state an estimated $125 million in wagers in March, according to PlayIndiana. And with no immediate end in sight, the industry will continue to navigate treacherous waters in the months ahead.

“This is an unprecedented stoppage for legal sportsbooks, and there is no playbook for them to follow to help manage the crisis,” said Dustin Gouker, lead analyst for PlayIndiana.com. “Obviously, the sports betting industry is just one facet in a crisis that is affecting us all, too often tragically. But it is a business that employs hundreds in Indiana and generates millions in state taxes. And the bottom line is that there will be no significant relief until the sports world begins to open back up.”

Indiana appeared to be headed for its first month of more than $200 million in bets. Instead, the state’s retail and online sportsbooks collected just $74.8 million in March wagers, down 60% from the record $187.2 million in February, according to official reporting released Thursday. Almost all of the handle was generated before March 11, when the NBA shut down its season and sent a cascade of closures through the sports world.

March’s bets produced $5.5 million in adjusted gross revenue, down 50.5% from $11.9 million in February, and yielded $522,0825 in tax revenue for the state.

The shutdown wiped out nearly three weeks of games, including the NBA and the opening of the Major League Baseball season. The loss of the NCAA Tournament, one of the largest sports betting holidays in the U.S., proved particularly damaging. Indiana sportsbooks could have generated more than $50 million in tournament-related wagers, PlayIndiana estimates.

“There is no way to replace the revenue that would have been generated from the NCAA Tournament, which in legal jurisdictions generates more action than the Super Bowl,” said Jessica Welman, an analyst for PlayIndiana.com. “The NCAA Tournament can’t be rescheduled, but professional leagues are beginning to draw plans to begin games again. We still don’t know what that looks like or when it will happen. Whether spectators are there to watch in-person or not, though, online sportsbooks should again be able to attract bettors, which will be welcome news for the industry.

Other than some minor international events and futures betting, mainly on the NFL, sportsbooks have gone completely silent. That could change in a minor way without a single game being played. Sportsbooks are now accepting bets on Friday’s WNBA Draft and the NFL Draft later this month.

“We don’t expect a lot of betting on the WNBA and NFL drafts, but we suspect that each will draw more interest than either would under ordinary circumstances,” Welman said. “People are looking for some sense of normalcy while they practice social distancing, and the drafts and futures betting is providing at least some outlet for bettors.”

In March, online sportsbooks generated 81.3%, or $60.8 million, of the state’s handle. DraftKings/Ameristar Casino led the market with $33.1 million in bets, down from $74.1 million in February, and generated $2.4 million in gross receipts, down from $5.7 million. FanDuel/Blue Chip Casino was second with a $21.6 million handle, down from $63.8 million. That resulted in a $1.45 million win, down from $2.7 million.

The market leaders were followed by:

  • BetRivers/French Lick Resort ($3.6 million handle, down from $7.7 million; $343,482 win, down from $348,869)
  • BetAmerica/Rising Star Casino ($132,568 handle, down from $212,953; $8,233 win, up from -$6,169)
  • BetMGM/Belterra ($2.1 million handle, up from $70,061; $370,669 win, up from $13,175)
  • Hollywood Lawrenceburg/PointsBet ($334,237 handle, $65,390 win)

Horseshoe Hammond led the retail market with $3.4 million in bets, down from $12.4 million in February. That generated $211,475 in gross receipts, up from $52,445. Horseshoe Hammond was followed by:

  • Hollywood Lawrenceburg ($2.6 million handle, down from $6.8 million; $65,390 win, down from $308,577)
  • Ameristar Casino ($2.1 million handle, down from $5.9 million; $232,186 win, down from $345,660)
  • Indiana Grand ($1.7 million handle, down from $4.7 million; $95,088 win, down from $516,760)
  • Harrah’s Hoosier Park ($1.8 million handle, down from $4.5 million; $32,459 win, down from $301,764)
  • Caesars Southern Indiana ($800,758 handle, down from $2.2 million; -$25,689 win, up from $16,774)
  • Blue Chip Casino ($693,011 handle, down from $2.1 million; $10,736 win, up from $3,008)
  • Tropicana Evansville ($594,036 handle, down from $1.6 million; -$49,753 win, down from $31,513)
  • Belterra Casino ($242,689 handle, down from $864,230; -$35,082 win, down from $46,173)
  • French Lick Resort ($81,343 handle, down from $387,656; -$16,027 win, down from $27,015)
  • Rising Star Casino ($43,686 handle, down from $123,393; -$5,903 win, down from $11,723)

“Online sportsbooks will bounce back more quickly than their retail counterparts, which face a much more uncertain future as the coronavirus pandemic continues,” Gouker said. “In states where online casino games and poker are legal, such as New Jersey and Pennsylvania, casino operators have had a bit softer landing. But Indiana has really borne the brunt of this crisis, unfortunately.”

For more revenue information on Indiana sportsbooks, visit PlayIndiana.com/revenue.

Gambling in the USA

BetConstruct to Display Its Products and Services at Sigma Americas

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BetConstruct, a leading company in iGaming technology and services, is heading to Sigma Americas in Sao Paulo, Brazil from April 23-25, 2024.

Sigma Americas is a major event focusing on iGaming with 10,000 delegations and more than 200 professional speakers. This event serves as an exceptional platform for participants to present their innovative offerings, engage with fellow industry leaders, and establish new business relationships.

BetConstruct is poised to introduce its cutting-edge products and solutions to the growing Brazilian market at the upcoming event. As a premier provider of online iGaming solutions, the company will showcase its comprehensive range of services to all attendees, offering diverse solutions tailored to meet their specific needs and preferences.

Moreover, BetConstruct will demonstrate its newest Spettacolare offer by Mr. First, which is a fleeting opportunity to maximise user profits and explore the potential of FTN.

Attendees of the event can find BetConstruct in the Transamerica Expo Center at Stand O60, where they will have the opportunity to gain a comprehensive understanding of BetConstruct’s products and solutions.

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Gambling in the USA

Play’n GO announces expansion of BetMGM partnership with Pennsylvania launch

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Play’n GO announces expansion of BetMGM partnership with Pennsylvania launch

 

Swedish gaming giants’ games now live with leading US operator in Michigan, West Virginia, New Jersey, and the Keystone State

Play’n GO, the world’s leading casino entertainment provider, has today announced further expansion of its partnership with leading US operator BetMGM,with the Swedish gaming giant’s content now available with the group in Pennsylvania.

Play’n GO and BetMGM’s US partnership has already proven stunningly successful in Michigan, New Jersey, and West Virginia, and this expansion sees the partnership extend to a fourth US state. Having secured its Pennsylvanian gaming license in March, Play’n GO is now live with two operators in this key state. BetMGM players in Pennsylvania now have access to classic Play’n GO titles, such as Reactoonz.

Play’n GO is now licensed in six US states and is aiming to be active in every regulated market, in the US and around the world.

Magnus Olsson, Chief Commercial Officer at Play’n GO said: “We’re pleased to expand our partnership with BetMGM into a fourth US state, and look forward to continued success together. We have always been committed to a safe, regulation-led industry to secure a sustainable future for us all. BetMGM share our vision, and so are a perfect partner for us. We will continue our mission of being active in every regulated market around the world, and we’re excited for further growth opportunities well into the future, in the US and beyond.”

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Gambling in the USA

Casino Management Systems Market size worth $ 30.36 Billion, Globally, by 2031 at 15.5% CAGR – Report By Verified Market Research®

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The Global Casino Management Systems Market is projected to grow at a CAGR of 15.5% from 2024 to 2031, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 9.59 Billion in 2024 and is expected to reach USD 30.36 Billion by the end of the forecast period.

Scope Of The Report

REPORT ATTRIBUTES DETAILS
STUDY PERIOD 2021-2031
GROWTH RATE CAGR of ~15.5% from 2024 to 2031
BASE YEAR FOR VALUATION 2024
HISTORICAL PERIOD 2021-2023
FORECAST PERIOD 2024-2031
QUANTITATIVE UNITS Value in USD Billion
REPORT COVERAGE Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis
SEGMENTS COVERED
  • Module
  • Application
REGIONS COVERED
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
KEY PLAYERS International Game Technology, Scientific Games Corporation, Everi Holdings Inc., NCR Corporation, Micros Systems, Konami Gaming, Light & Wonder, Astra Gaming Group, Novomatic AG Group, Gauselmann Group, Gamesys Group plc, BetConstruct, Melco Resorts & Entertainment, Galaxy Entertainment Group, SJM Holdings Limited, Suncity Group, Paradise Entertainment Limited
CUSTOMIZATION Report customization along with purchase available upon request

Casino Management Systems Market Overview

Technological Advancements Propel Growth: Technological advancements play a crucial role in driving the ever-changing Casino Management Systems Market. Advancements like AI-powered analytics, integration with IoT, and mobile compatibility contribute to improved operational efficiency and increased customer engagement. These advancements fuel the need for businesses to improve their operations and provide exceptional customer experiences, leading to the growth of the market.

Rising Demand for Enhanced Security Solutions: Security is a major concern in the Casino Management Systems Market, leading to a high demand for cutting-edge security solutions. Given the rising number of fraudulent activities and data breaches, casinos are actively looking for strong security measures to protect their assets and ensure the safety of customer information. Addressing these concerns, solutions that provide biometric authentication, encryption, and real-time monitoring can foster trust among stakeholders and contribute to market growth.

Increasing Regulatory Compliance Requirements: The Casino Management Systems Market is seeing a notable increase in demand due to the growing importance of regulatory compliance. Comprehensive compliance solutions are required to meet the stringent regulations in the gaming industry. By utilising systems that provide regulatory reporting, audit trails, and age verification capabilities, casinos can ensure compliance with legal requirements and prevent potential penalties. The increasing emphasis on compliance highlights the significance of advanced management systems, driving the growth of the market.

High Initial Investment Costs: One of the main challenges in the Casino Management Systems Market is the significant upfront costs involved in implementing comprehensive management solutions. Acquiring, integrating, and customising these systems can result in significant upfront expenses for casinos. The financial obstacle hinders the expansion of the market, especially for small and medium-sized businesses. Nevertheless, companies that offer adaptable pricing structures and scalable solutions can help alleviate this limitation, thereby expanding the market’s accessibility to a wider array of businesses.

Integration Challenges and Legacy Systems: The Casino Management Systems Market faces significant challenges due to the complexities of integration and the presence of legacy systems. It is common for casinos to have a wide range of IT infrastructures, some of which may be outdated and incompatible with modern management solutions. Implementing new systems and ensuring smooth compatibility with current infrastructure demands significant time, resources, and specialised knowledge. The integration challenges mentioned can impede market growth as they result in longer implementation timelines and higher deployment costs.

Concerns Regarding Data Privacy and Security: In the ever-growing landscape of data breaches and privacy scandals, the Casino Management Systems Market faces significant challenges when it comes to data privacy and security. Casinos are responsible for managing extensive amounts of sensitive customer data, which includes personal and financial information. This makes them highly attractive to cyber threats. With increasing regulatory scrutiny, casinos are under growing pressure to maintain data protection standards and ensure the privacy of their customers. Tackling these concerns necessitates strong security measures and adherence to data privacy regulations, which introduces additional complexity and expenses to system implementations, thereby limiting market expansion.

Geographic Dominance:
The forecast period is expected to see the Asia Pacific region experiencing the most significant growth. Several countries in the Asia Pacific region, such as Macau, Singapore, the Philippines, and South Korea, have experienced significant expansion in their casino industry. Emerging markets are actively expanding their gaming sectors in order to attract more tourists and boost revenue. This expansion requires sophisticated management systems to optimise operations, enhance visitor experiences, and ensure compliance with regulations.

In addition, the Asia-Pacific region has experienced a notable rise in middle-class populations and disposable incomes. As a result, there has been a growing trend of increased leisure spending, with a particular focus on gaming and entertainment. With the increasing number of casino visitors, there is a growing need for cutting-edge casino management systems. This has led to the creation of innovative technologies that enhance customer service, marketing strategies, and overall operational efficiency.

Casino Management Systems Market Key Players Shaping the Future

Major players, including International Game Technology, Scientific Games Corporation, Everi Holdings Inc., NCR Corporation, Micros Systems, Konami Gaming, Light & Wonder, Astra Gaming Group, Novomatic AG Group, Gauselmann Group, Gamesys Group plc, BetConstruct, Melco Resorts & Entertainment, Galaxy Entertainment Group, SJM Holdings Limited, Suncity Group, Paradise Entertainment Limited. and more, play a pivotal role in shaping the future of the Casino Management Systems Market. Financial statements, product benchmarking, and SWOT analysis provide valuable insights into the industry’s key players.

Casino Management Systems Market Segment Analysis

Based on the research, Verified Market Research® has segmented the global Casino Management Systems Market into Module, Application, And Geography.

  • Casino Management Systems Market, by Module
    • Slot Games
    • Table Games
  • Casino Management Systems Market, by Application
    • Accounting
    • Security & Surveillance
    • Players Tracking
    • Marketing & Promotions
    • Gaming Analytics
    • Others
  • Casino Management Systems Market, by Geography
    • North America
      • U.S
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • U.K
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Rest of Asia Pacific
    • ROW
      • Middle East & Africa
      • Latin America

Leading Casino Management Systems taking gambling to new heights

Visualize Casino Management Systems Market using Verified Market Intelligence -:

Verified Market Intelligence is our BI Enabled Platform for narrative storytelling in this market. VMI offers in-depth forecasted trends and accurate Insights on over 20,000+ emerging & niche markets, helping you make critical revenue-impacting decisions for a brilliant future.

VMI provides a holistic overview and global competitive landscape with respect to Region, Country, Segment, and Key players of your market. Present your Market Report & findings with an inbuilt presentation feature saving over 70% of your time and resources for Investor, Sales & Marketing, R&D, and Product Development pitches. VMI enables data delivery In Excel and Interactive PDF formats with over 15+ Key Market Indicators for your market.

 

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