Gambling in the USA

PlayNJ.com: Sports betting slows in June while revenue booms

Published

3 years ago

July 19, 2021

Pariplay to power PlayStar offering in New Jersey

New Jersey’s online and retail sportsbooks rejoined the national trend of declining betting volume in June. But a hold of 9.3% pushed revenue at sportsbooks to more than $71 million, a remarkable result that blunted the effects of any summer slowdown, according to PlayNJ, which tracks the state’s regulated online gaming and sports betting market.

“Overall, New Jersey continues to perform far better than every other sports betting market in the U.S.,” said Dustin Gouker, analyst for the PlayUSA.com Network, which includes PlayNJ.com. “No market can completely overcome a lack of betting inventory, but New Jersey’s sportsbooks continue to find ways to capitalize on what the sports world is offering, most notably the NBA Playoffs and baseball.”

Online and retail sportsbooks took in $766.9 million in bets in June, according to official data released Friday. That is down 5.8% from $814.3 million in May, but up dramatically from $117.8 million in June 2020, a month still plagued with pandemic-related closures.

June’s action yielded $71.3 million in gross gaming revenue, the most in operator revenue since sportsbooks posted a record $82.6 million in January. $164.4 million in parlay betting, which has a year-long hold of 17.8%, by far the highest of any type of bet, was the main revenue generator in June. Operator revenue was up 34.7% from $52.9 million in May and up exponentially over $12.6 million in June 2020.

All told, June’s betting yielded $10.5 million in state and local taxes.

March brought the highest betting volume in U.S. history, with $4.6 billion in legal bets placed across the U.S. With no football or betting holiday like March Madness, combined U.S. handle fell to $3.7 billion in both April and May. That is a 19.6% drop from March’s high. But New Jersey’s volume has outperformed the rest of the U.S., down 10.8% in June from $859.6 million in March.

New Jersey’s advantage, other than its close proximity to New York, is the popularity of the NBA in the Northeast. June saw $190.9 million in basketball-related bets, easily the most of any sport during the month. Through the first six months of the year, basketball has attracted $1.7 billion in wagering. That represents 34.5% of the $4.8 billion handle from events completed so far this year, the most of any sport by a considerable margin.

“While the sportsbooks in most states have been scouring the sports landscape for opportunities to drive interest, New Jersey’s books have successfully capitalized on the NBA playoffs and baseball,” said Eric Ramsey, analyst for PlayNJ.com.

89.1%, or $734.7 million, of June’s handle came through an online operator. FanDuel Sportsbook/PointsBet commanded the market lead once again with $38.1 million in gross revenue, up from $29.8 million in May.

FanDuel was followed in revenue by:

Resorts Digital/DraftKings/Fox Bet ($13.0 million, up from $9.5 million in April)
BetMGM/Borgata ($5.6 million, up from $4.7 million)
Ocean Casino/William Hill ($2.3 million, up from $1.3 million)
Monmouth/William Hill/SugarHouse/TheScore ($2.0 million, up from $1.8 million)
Hard Rock/Bet365/Unibet ($642,297, up from $508,488)
Caesars Sportsbook/888sport ($243,981, down from $518,217)
Golden Nugget/BetAmerica ($80,615, up from -$87,211)
Tropicana/William Hill ($92,388, down from $48,000)

Meanwhile, retail sportsbooks continued to benefit from loosening restrictions with $83.9 million wagers in June, up from $79.6 million in May. Meadowlands/FanDuel led all retail books with $6.4 million in revenue in June.

The most mature U.S. market other than Nevada, New Jersey should get an infusion of new brands, including a potential Sports Illustrated-branded app, after SI and 888 Holdings announced a deal to create an app that could launch in multiple markets. This as voters get a chance to alter the market with a vote later this year to lift the state’s ban on wagering on in-state college teams.

“It feels like market share in New Jersey is cemented right now,” Ramsey said. “Right now, the state could really benefit from a small shakeup. A new brand with a well-known name like SI could help. So too would unlocking local college sports betting.”

Online casinos and poker

Online casinos and poker rooms extended their run of $100 million-plus revenue months to four, reaching $107.1 million in June. Revenue was up 26.1% from $84.9 million in June 2020, though down from $108.2 million in May.

The huge gains made in online gambling in 2020 has so far withstood the reopening of Atlantic City casinos. Through six months of 2021, online gaming has produced $634.2 million in revenue. That is well on pace to surpass the record $970.3 million in revenue in 2020 and easily reach $1 billion in revenue in a single year for the first time.

Borgata/BetMGM led in June with $34.3 million in casino and poker revenue. That topped rival Golden Nugget, which reached $27.6 million. Resorts Digital, which includes the Fox Bet and DraftKings brands, which has also made significant investments in its online gaming product over the last year, was third with $22.5 million in revenue.

“The positive effect of online sports betting, the race for market share, and the behavioral changes that stemmed from last year’s pandemic-related shutdowns continue to benefit online casinos and poker rooms,” Ramsey said. “$1 billion in annual revenue seems like a certainty now. And more growth could come this fall, even with Atlantic City recovering.”

Other highlights from June’s report:

Online casinos and poker rooms generated $18.7 million in state and local taxes.
Online casinos and poker generated $3.6 million per day in the 30 days of June, up from $3.5 million per day in May.
Online casinos accounted for $104.8 million of June’s revenue, up 28.8% from $81.4 million in June 2020.
Online poker generated $2.2 million, down 37.5% from $3.5 million in June 2020.

For more information and analysis on regulated sports betting and online gaming, visit PlayNJ.com/news.

Gambling in the USA

BetConstruct to Display Its Products and Services at Sigma Americas

Published

7 hours ago

April 18, 2024

Peter Tolan

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.

Gambling in the USA

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

Published

17 hours ago

April 18, 2024

George Miller

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.”

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®

Published

1 day ago

April 17, 2024

Peter Tolan

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

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