Gambling in the USA
Galaxy Gaming Reports Bleak Q2 Results
Galaxy Gaming, a Nevada-based casino games manufacturer, has reported decreased revenues in the financial report for the second fiscal quarter ended June 30, 2020.
Revenue slipped by 88 per cent to $664,000 and adjusted EBITDA dropped by 159 per cent to $1.42m as the casinos remain mostly shut owing to Covid-19 restrictions. The overall income was $1.1m and the net loss is $2.2m.
“The second quarter of 2020 was painful for everyone in the global casino industry,” said Todd Cravens, Galaxy’s president and CEO. “We earned virtually no revenue from our land-based clients, almost all of whom were shut for the entire quarter.
“We used the time to develop new games and technologies that we hope to introduce later this year. Our online gaming business continued to perform well and we expect to close our acquisition of Progressive Games Partners later in August, which will allow us to work more closely with our igaming clients.”
“Our liquidity remained stable in Q2 as we drew down on our revolver and accessed funds through the PPP programme,” stated Harry Hagerty, Galaxy’s CFO.
“We have been current in payments of interest and principal on our debt obligations even as our revenues were significantly diminished. However, going forward, we expect that the second-quarter results will negatively affect our ability to meet one or more of the financial covenants in our bank debt and we are pleased that Nevada State Bank has agreed to forbear enforcing certain of the covenants through the first quarter of 2021.”
Compliance Updates
Arizona Department of Gaming Releases October Sports Betting Figures
Bettors in Arizona wagered approximately $791 million on sports in October of 2024, according to a new report by the Arizona Department of Gaming. This represents an approximate 22% increase when compared to October of 2023.
The state collected approximately $2.35 million in privilege fees in the month.
Gambling in the USA
Neosurf & Betting Hero to reveal results of their in-depth study into US online gambling and payment habits in exclusive two-part webinar series
Neosurf, the globally trusted provider of swift and secure cash-to-digital payment solutions, has announced it will be sharing the findings of a recent study into the online betting habits, preferences and frustrations of US players in an exclusive two-part webinar series beginning on January 14th.
Neosurf commissioned the research via Betting Hero – a leading US-based iGaming portal with expertise in casino, sports betting and DFS. The webinars will see Neosurf CEO Americas, Sue Page, Betting Hero’s Co-Founder and President, Jai Maw, and Senior Director of Product and Research, Ernie Ropas, dive into the report’s key findings and discuss what some of the more surprising results could mean for operators.
The survey, which featured respondents from New Jersey, Colorado and North Carolina, aimed to help operators and regulators within the gambling industry better understand the typical US bettor – how and why they bet, what tools they use to manage their budget and what Responsible Gaming means to them. The findings will be revealed in the webinars and used to identify areas where Neosurf’s products can help operators provide a better user experience.
The research highlighted several aspects of payments and responsible gaming that bettors felt could be improved. Problems with payments remain an issue – 52% of respondents said that they’d experienced payment issues in the past year, and with over 50% depositing and withdrawing multiple times each month, there is a significant cost impact to the operators.
Additionally, respondents indicated they’d be in favour of using a service that could share pre-verified ID information with operators, with ease of use for new payment methods and seamless integration across multiple platforms identified as important factors in their choosing and remaining loyal to a single sports betting platform.
Sue Page, Neosurf CEO Americas, said: “It was important to us to gain a more detailed insight into the US sports bettor. We wanted to talk to the players and ask questions that no one else is asking, and through our collaboration with Betting Hero I’m delighted that we now have a comprehensive piece of research.
“Offering valuable insights into player habits – how and why they bet, the ongoing pain points they’re experiencing with payments and their thoughts on Responsible Gaming—we’ll be taking a deep dive into the results of the survey in our two-part webinar series starting at 10:00 ET on January 14th, and we encourage all US-focused operators and regulators to join us.”
Gambling in the USA
Saracen Casino Resort Chooses QCI Chatalytics to Enhance Casino Operations with Integrated AI Solutions
Saracen Casino Resort has selected Quick Custom Intelligence’s (QCI) Chatalytics, an integrated AI-driven suite, to revolutionize its casino operations and elevate guest experiences. The QCI Chatalytics solution, which includes Slot Copilot, Player Copilot, Dashboard, and the Robot Button, leverages OpenAI integration to provide real-time insights and streamlined decision-making across the casino floor.
QCI Chatalytics offers a powerful blend of AI-powered tools designed to optimize both player and slot management. With Slot Copilot, operators gain enhanced capabilities for real-time slot performance monitoring, predictive analytics, and dynamic task assignment. Player Copilot delivers personalized player engagement by analyzing customer data to inform service decisions and reward recommendations. The Dashboard component offers an intuitive, real-time display of key metrics, enabling data-driven insights at a glance. Additionally, the innovative Robot Button automates routine processes, allowing staff to focus on higher-value tasks and improve overall efficiency.
Clayton Mason, Senior Director of Marketing of Saracen Casino Resort, expressed enthusiasm about the partnership: “Integrating QCI Chatalytics into our operations marks a significant step in our strategy to harness the power of AI. With advanced tools like the Robot button, Slot Copilot and Player Copilot, we can deliver a more tailored and efficient experience for our guests while gaining deeper insights into our gaming operations.”
Dr. Ralph Thomas, CEO of QCI, shared his vision for the collaboration: “We’re excited to bring the capabilities of QCI Chatalytics to Saracen Casino Resort. By integrating OpenAI technology, our solution provides unprecedented levels of automation and insight. We believe Chatalytics will play a crucial role in optimizing floor operations and enhancing guest satisfaction through real-time, data-driven decision-making.”
The QCI Chatalytics platform is part of Quick Custom Intelligence’s commitment to driving innovation in the gaming industry, offering a comprehensive suite of solutions to streamline operations and enhance the player experience.
-
Latest News7 days ago
Plaza Hotel & Casino offering free stalls to temporarily rehome horses affected by the California wildfires
-
Affiliate Industry7 days ago
MetaBet inks Gentoo Media partnership to enhance flagship sites
-
Compliance Updates6 days ago
INCENTIVE GAMES RECEIVES FULL PAY-TO-PLAY GAMING CERTIFICATION IN BRAZIL
-
Latest News7 days ago
INSPIRED TO LAUNCH 16 SLOT GAMES IN BRAZIL, IGNITING THE iGAMING MARKET IN JANUARY 2025
-
Compliance Updates6 days ago
FBMDS obtains certification to operate in Brazil
-
Latest News7 days ago
PENN Entertainment Announces Partnership with Monumental Sports & Entertainment for Market Access in Washington, D.C.
-
Compliance Updates3 days ago
Digitain Group Products are Certified for Brazil
-
Canada2 days ago
BetConstruct Becomes the First iGaming Company to Offer Both B2B and B2C Licenses in Canada through Affiliate Entity