Connect with us

Industry News

New Jersey Division of Gaming Enforcement Announces March 2023 Total Gaming Revenue Results

Published

on

 

The New Jersey Division of Gaming Enforcement announced the March 2023 total gaming revenue results.

Casino Win:

Based upon filings with the Division of Gaming Enforcement, Casino Win for the nine casino hotel properties was $228.6 million for March 2023, reflecting a 5.6% increase compared to $216.6 million for March 2022. Year-to-date Casino Win for the nine casino hotel properties was $655.3 million, reflecting growth of 7.0% compared to $612.7 million for the prior period.

Internet Gaming Win:

For the month of March 2023, Internet Gaming Win reported by casinos and their partners was $165.7 million, reflecting growth of 17.8% compared to $140.7 million for the prior period. For the year-to-date period, Internet Gaming Win reported by casinos and their partners was $461.2 million, reflecting growth of 12.9% compared to $408.5 million for the prior year-to-date period.

Sports Wagering Gross Revenue:

Sports Wagering Gross Revenue reported by casinos, racetracks, and their partners was $93.0 million for March 2023, reflecting a 40.1% increase when compared to $66.4 million in the prior period. Sports Wagering Gross Revenue reported by casinos, racetracks, and their partners was $220.0 million for the year-to-date, reflecting a 39.7% increase when compared to $157.5 million for the prior year-to-date period.

Total Gaming Revenue:

Total Gaming Revenue reported by casinos, racetracks, and their partners was $487.4 million for March 2023, reflecting a 15.0% increase from $423.7 million reported in March 2022. For year-to-date, Total Gaming Revenue reported by casinos, racetracks, and their partners was $1.34 billion reflecting a 13.4% increase from $1.18 billion reported in the prior period.

Industry News

Bragg to Attend the SBC Summit North America, 8-9 May, 2024

Published

on

 

Bragg is going to attend the SBC Summit North America taking place at the Meadowlands exposition center, New Jersey in May.

“See you in the Garden State to discuss how Bragg’s full-service suite of market leading iGaming content and technology solutions can be tailored to suit the demands of the U.S. market. Connect with members of the team to learn ways Bragg can accelerate your business with our technology, content and managed services solutions. Discover more about our award-winning Player Account Management (PAM), which is leading the way across the European market and in multiple regulated markets. Learn how our cutting-edge content aggregation RGS which already integrates a host of casino, sportsbook and lottery operators and is supported by our leading gamification product Fuze,” the Company said.

Participate in an insightful discussion

Join Bragg Group Director of Content Doug Fallon and fellow panelists at SBC Summit North America to discuss how game design can be leveraged to deliver profitable products in the iGaming industry.

Don’t miss this great panel discussion “Game Design 101: Launching a Profitable Product” taking place on iGaming Stage 3 at 16:00 on Wednesday, May 8.

Continue Reading

Industry News

Lori Kalani to Join Draftkings as First Chief Responsible Gaming Officer

Published

on

 

DraftKings announced the appointment of Lori Kalani as Chief Responsible Gaming Officer reporting to DraftKings’ chief executive officer, Jason Robins. Kalani becomes DraftKings’ first Chief Responsible Gaming Officer committed to the continued elevation and integration of the company’s player safety and protection activities and initiatives across all facets of its platforms and player communities.

“Responsible gaming is one of our top priorities and it is a core part of our mission to build games that our customers can enjoy responsibly. In this leadership role, Lori will further advance our responsible gaming initiatives and uphold our commitment to setting new industry standards,” Jason Robins, CEO and Co-Founder of DraftKings, said.

Leveraging a systems-based approach, DraftKings’ responsible gaming initiatives utilize, among other things, technology, employee training, evidence-based research, collaboration with third parties and advocacy groups, and comprehensive player education to promote responsible play across all platforms and all player communities, and to provide players with tools to help them manage their play responsibly.

“I have long admired DraftKings’ impact as an entertainment and engagement platform that brings a community of gaming enthusiasts together. Joining DraftKings represents an exciting opportunity for me to bolster the efforts of the company and look for opportunities to reinforce our responsible gaming initiatives. I am eager to partner with colleagues, regulators, industry leaders, and community advocates to further demonstrate DraftKings’ commitment to responsible gaming and promote a healthy gaming environment for all customers,” said Lori Kalani.

Kalani’s extensive experience in consumer protection law and proven accomplishments in developing working relationships with regulators, attorneys general and other key stakeholders will enable her to effectively work alongside DraftKings’ Compliance team to further cultivate DraftKings’ dedication to best-in-class consumer safety and protection practices.

Kalani previously was a partner at the Cozen O’Connor law firm and Co-Chaired the State Attorneys General practice. Her extensive background spans diverse industries including gaming, social media, telecommunications, hospitality and healthcare. Kalani’s nuanced understanding of regulatory environments and her expertise in representing clients in industry-shaping challenges that intersected law, politics, and policy make her the ideal leader to advance DraftKings’ responsible gaming initiatives.

Continue Reading

Industry News

Kutt Secures $1 Million+ in Funding and Surpasses 10,000 Users

Published

on

 

Kutt, the leading social betting platform, announced that it closed the first quarter of 2024 with a successful fundraise of over $1 million and that it has surpassed the 10,000 user mark. The company also commissioned a study of 1000 bettors that clearly defines what social betting is and what users want — further cementing its ownership of the space.

“Betting has been a social activity for thousands of years, so it’s no surprise that consumers want the ability to facilitate and track wagers against their friends. If anything, bettors unquestionably prefer a more curated, social experience — they want to be part of a wider community and to be part of the conversation around sports, entertainment, and important events,” Sim Harmon, CEO and founder of Kutt, said.

While sports betting has boomed across the country since the Professional and Amateur Sports Protection Act (PASPA) was overturned in 2018, established gambling companies have largely stuck to the tried-and-true format sportsbooks have been using for decades — traditional sports bets against the house. But consumer desire to experience more has increased as the betting industry has matured, with 82% of bettors interested in wagering directly against their friends and other individuals through a decentralized platform, according to Kutt’s recently commissioned survey.

The survey found that, in addition to Kutt’s traditional offerings, an overwhelming majority of bettors (80%) are interested in wagering on non-sporting events, with 77% wanting to bet on entertainment, 62% interested in wagering on politics, and 60% with a desire to bet on life events. Kutt allows users to wager with friends on any event with publicly verifiable results, making it the ultimate “put your money where your mouth is” destination for fans. The survey also shed light on some compelling aspects and trends among current bettors, including:

  • A higher percentage of bettors surveyed placed a wager with a friend in the past year (61%) vs. a sportsbook (60%)
  • More than half of U.S. bettors (54%) have betting group chats with friends
  • A majority of U.S. bettors (60%) text their friends about the progress of a bet while watching a game.

Adding further validity to the findings of the survey and the demand for a real-money social betting experience is Kutt’s recent $1 million+ institutional fundraise, led by Lightning Capital, a firm that invests in digital assets and online communities. The investment will fuel initiatives aimed at growing the Kutt community, enhancing user experiences, and expanding betting markets.

“We look for emerging companies in high-growth industries to invest in. Kutt’s enthusiastic user base, rapidly growing partnership portfolio, and their differentiated product offering were very attractive to us. We are eager to help them continue to define and own the social betting space,” Jock Percy, General Partner at Lightning Capital, said.

Continue Reading

Trending

GamingAmericas.com (part of HIPTHER) is your one-stop portal for the latest news, insights, and analyses in the gaming industry across the Americas. From legislative updates and market trends to interviews with industry leaders, we provide a comprehensive look at the dynamic landscape of both online and land-based gaming. Whether you're a stakeholder looking to stay ahead of the curve or a gaming enthusiast eager for reliable updates, GamingAmericas.com has got you covered. Follow us on social media and subscribe to our newsletter for real-time updates and exclusive content. Make informed decisions and stay ahead in the game with GamingAmericas.com.

Disclaimer: All the information provided is for educational and entertainment purposes only. Always check your local laws before participating in any gaming activities.

Copyright © 2018 – 2024, HIPTHER. All Rights Reserved.