Gambling in the USA
Nuvei Accelerates Expansion in the US iGaming Market
Nuvei Corporation, the global payment technology partner of thriving brands, announces its accelerated expansion into the U.S. iGaming market. Onboarding online operators from fantasy sports, sports betting, casino, iLottery and several other industry sectors, Nuvei merchants can succeed due to the Company’s vast experience in customizing payment solutions specifically for online gaming and gambling operators.
Recognizing huge opportunity in the growing U.S. iGaming market, Nuvei has already obtained approvals to provide payment services to iGaming operators in multiple states, with more expected. Backed by decades of international industry experience, the Company can provide a seamless payment experience, from rapid onboarding to fraud prevention and optimizing payment profitability.
With more and more U.S. states legalizing online gaming and betting, U.S. iGaming revenue is expected to reach USD 127.3 billion by 2027. Nuvei’s response to the increased demand is to expand its end-to-end platform that focuses on one fast and simple integration, flexibility, automation, and innovative features that eliminate critical iGaming merchant pain points while facilitating business growth.
A particular industry pain point that Nuvei’s solution tackles is low payment acceptance rates. Through smart and sophisticated transaction routing via multiple acquirers, and acceptance of multiple payment methods for fast deposits and withdrawals—including cards, digital wallets, bank transfers and ACH—the Company’s aim is to provide the highest success rates possible.
“Nuvei is uniquely equipped to dive right into the rapidly expanding U.S. iGaming market, and as more states continue to legalize online gambling, our proven, market-tested payment solutions can deliver on operators’ key requirements from A-Z,” said Philip Fayer, Nuvei’s chairman and CEO. “We have helped make online gaming transactions safer, faster and more efficient for nearly two decades across the globe. Our rapid growth is the result of our dominant position in the global iGaming space and our relentless commitment to our clients’ success.”
Offering seamless pay-in and payout capabilities, Nuvei enables operators to satisfy and gain more loyal clients. In addition, instant authentication of bank accounts for ACH payments provide added flexibility leading to increased conversions. The Company’s global token service provides best-in-class fraud protection for repeat payments, while enhancing revenue.
Cashier, Nuvei’s proprietary hosted payment page customized for the gaming industry, is the fastest integration option and is proven to decrease abandonment through its streamlined user experience, displaying the players’ preferred payment methods. Declined transactions trigger an automated recovery function to further increase conversion rates. Cashier is also designed to optimize multi-directional payment flows while adhering to unique industry compliance and regulations.
“Our speedy expansion in the U.S. leverages our track record of serving iGaming operators and platforms across most regulated markets in the world,” said Yuval Ziv, Nuvei’s managing director of digital payments. “Our expertise in the iGaming sector means we can anticipate the needs of the market and facilitate the success of operators in all regulated states.”
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. March’s monthly revenue was 16.7% higher than February 2024. From Jan. 1 through March 31, the Detroit casinos’ table games and slots revenue decreased by 1.6% compared to the same period last year.
The casinos’ 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
Play’n GO Announces Expansion of Rush Street Interactive Partnership with Pennsylvania Launch on BetRivers Platform
Swedish gaming giants’ games now live with leading operator Rush Street Interactive Incorporated 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 United States operator Rush Street Interactive Incorporated (NYSE: RSI) (RSI), which operates the BetRivers platform. The Swedish gaming giant’s content is now available with BetRivers in Pennsylvania.
Play’n 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 Play’n GO’s procurement of a Pennsylvania license in March and will see BetRivers players in Pennsylvania gain access to some classic titles from the Play’n GO catalogue including Reactoonz and Boat Bonanza.
Play’n 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.
“We’re 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 we’ve already enjoyed such great success in recent months,” the North America Commercial Director for Play’n GO, Magnus Natt och Dag, said. “Play’n GO is committed to a safe, sustainable entertainment-led industry and we know that the team at BetRivers shares that same vision.”
“We’re very happy to be expanding our partnership with Play’n Go into Pennsylvania on our BetRivers platform,” the Chief Executive Officer for RSI, Richard Schwartz, said. “Play’n Go has an impressive portfolio of popular titles and we are thrilled to offer our BetRivers PA players its innovative and top-quality games.”
To find out more about working with Play’n GO in the United States and other regulated markets, please visit PlaynGO. com.
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