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PlayIA.com: Sportsbooks slow in April, but state hits significant milestone

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PlayTenn.com: Sports betting hits lowest level since November

 

Wagering at Iowa’s online and retail sportsbooks slowed in April to less than $120 million, the lowest handle since December though an expected pullback in what is the beginning of the slower summer period in sports betting. But on the two-year anniversary of Gov. Kim Reynolds signing sports betting into law, Iowa sportsbooks have generated $101.1 million in operator revenue since the industry launched in 2019, giving the state’s sports betting industry a historic milestone on its second birthday, according to PlayIA, which tracks regulated online and retail gaming in the state.

“Seeing $100 million in lifetime revenue is an attention-getting milestone that crystallizes just how much growth Iowa has enjoyed this year,” said Jessica Welman, analyst for PlayIA.com. “The removal of in-person registration at the beginning of the year has been the catalyst for the industry’s expectation-busting start to the year. But other factors have helped, too, including a fierce competition among some of the country’s best-known operators, which have been aggressive and creative in reaching new bettors.”

Iowa sportsbooks accepted $ 118.4 million in bets in April, according to official data released Friday. That is down 26.7% from the record $161.4 million in wagers in March and the lowest volume since sportsbooks collected $104.8 million in bets in December. The state’s per-day betting average over the 30 days in April fell to $3.9 million from $5.2 million over the 31 days of March.

Net operator revenue was relatively strong though, hitting $7.7 million in April. That was down 42.6% from April’s record $13.5 million in net receipts. April’s revenue produced $521,455 in state taxes. Since January, when in-person registration rules were lifted, Iowa sportsbooks have produced $40.2 million in net receipts, or 39.8% of the state’s lifetime handle.

Without the NFL or the NCAA Tournament, sports betting has historically lightened from April through August in legal U.S. markets. In April, sportsbooks relied on the NBA’s regular season and the first full month of baseball as the main engines to attract bets.

“Nothing can quite replace the interest that the NFL and the NCAA Tournament drives, so a pullback in April is no surprise,” said Dustin Gouker, analyst for PlayIA.com. “But with a full month of regular season NBA and Major League Baseball, Iowa still put together a decent showing in April. That is an excellent sign as we head into the slower summer months, which could be busier than in an ordinary year because of the Olympics and later-than-usual NBA playoffs.”

Online betting generated $104.5 million in bets or 88.3% of the state’s overall handle. That rose from 86.3% of the state’s handle in March. Meanwhile, retail betting fell to $13.8 million from $22.1 million in March.

Longstanding Iowa leader William Hill, which is partners with six Iowa casinos — Prairie Meadows, Horseshoe Casino Council Bluffs, Isle Casino Hotel Waterloo, Isle of Capri Bettendorf, Lakeside, and Harrah’s Council Bluffs — topped the market with $39.1 million in handle, including $35.7 million in online wagers. The combined handle was down from $49.5 million in March. April produced $1.8 million in net receipts.

William Hill is also undergoing a branding change as part of the acquisition by Caesars Entertainment. It will likely take on the recognizable “Caesars Sports” name for its U.S. sportsbooks, adding a wrinkle in William Hills’ effort to hold off DraftKings and BetRivers at Wild Rose casinos.

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Wild Rose, which includes DraftKings and BetRivers, took in $34.6 million in online and retail bets in April — down from $44.3 million in March. That included $34.3 million in online wagers. Still, Wild Rose led the market with $2.6 million in net receipts.

FanDuel and BetMGM helped put Diamond Jo in third place with $29.2 million in April bets, which included $26.1 million in online wagering. April’s betting was down from $42.8 million in March. Diamond Jo’s April handle netted $2.2 million in receipts.

Emerging sportsbooks operators are planning on launching in Iowa soon, too. Circa Sports, USBookmaking, and PlayUp all had sports betting contracts approved in April, joining a growing list of operators planning an Iowa launch, including WynnBet, Vigtory, MaximBet, and 888 Sports.

“The Iowa market is still a long way from maturity,” Welman said. “The largest sportsbooks are in a fight for market share while competitors turn their eyes to Iowa, an increasingly attractive market for emerging operators. The next few months should bring a flurry of activity, as operators jockey for position ahead of football season.”

For more information and analysis on regulated sports betting in Iowa, visit PlayIA.com/news.

Compliance Updates

BMM Testlabs Earns Accreditation in Maranhão, Brazil To Test Fixed Odds Betting Systems and Lottery Platforms

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BMM Testlabs Earns Accreditation in Maranhão, Brazil To Test Fixed Odds Betting Systems and Lottery Platforms

 

BMM Testlabs, the world’s original gaming test lab renowned for exceptional product compliance and testing services, today announced its official accreditation to test systems and games for the Brazilian state of Maranhão.

This new accreditation allows BMM Testlabs to test fixed-odds betting systems and lottery platforms for the Maranhão market. The Company is now authorized in every Brazilian jurisdiction that has regulated at state-level online fixed-odds betting.

The Maranhão accreditation, issued by Maranhão Parcerias SA (MAPA/LOTEMA)authorizes BMM Testlabs to work with lottery operators in the state to ensure compliance and quality standards for the gaming and lottery industry through end-to-end product compliance testing for Maranhão’s standards.

Additionally, Brazil’s Secretaria de Prêmios e Apostas has federally authorized BMM Testlabs to test betting systems, live gaming studios, and online games used by fixed-odds betting operators.

BMM Testlabs’ Marzia Turrini, President of iGaming & Cybersecurity, said, “We are excited and deeply honored that the State of Maranhão’s official lottery has entrusted BMM Testlabs with the responsibility of testing products for their new online fixed odds betting program, knowing that we’ll do so with the highest levels of impartiality, technical expertise, transparency, efficiency, and, most of all, integrity.”

With the Maranhão accreditation, BMM Testlabs solidifies its position as the leading independent test lab in Brazil. BMM Testlabs is accredited in all jurisdictions that have authorized fixed-odds betting for online gaming and sports betting.

BMM Testlabs brings 44 years of global leadership in product compliance across regulated markets and is trusted by games, systems, and lottery manufacturers, suppliers, developers, and regulators worldwide.

In addition to product compliance testing, BMM Testlabs provides end-to-end cybersecurity protection solutions. Through its sister company, RG24seven Virtual Training, BMM also offers compliance-grade virtual training on responsible gaming, anti-money laundering, and other important topics – presented by industry experts and available in English, Spanish, and Portuguese.

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Conferences

Meridianbet CEO Showcases GMGI’s $163M FY2024 Revenue, USA & Brazil Entry at ICR 2025 Conference

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Meridianbet CEO Showcases GMGI's $163M FY2024 Revenue, USA & Brazil Entry at ICR 2025 Conference

 

In a packed room at the prestigious ICR 2025 Conference held in Orlando, FL, Zoran Milosevic, CEO of Meridianbet, captivated the audience of elite investors with GMGI’s remarkable growth story and series of strategic market entries that position the company for significant value creation in 2025 and beyond. The company also led the conference with the highest number of one-on-one investor meetings, signaling strong interest in its growth trajectory.

The world-class event, also known as the financial market Super Bowl, is recognized as the planet’s premier small and medium-cap conference for US listed companies. It brought together over 3,000 attendees, including institutional investors, sell-side analysts, investment bankers, and private equity professionals.

This builds on the success at the 2024 Citi Global TMT Conference, when the company shared insights alongside industry giants like DraftKings, FanDuel, and IBM.

61% Year-Over-Year Growth Positions GMGI as Gaming Industry Leader

The world’s elite investment audience found out a compelling history of growth: GMGI’s preliminary FY 2024 revenue surged 61% year-over-year to $150 million, with pro forma consolidated revenue reaching $163 million.

This exceptional growth trajectory, driven by strategic market expansions and technological innovation, showcases GMGI’s emerging dominance in the global gaming landscape.

Brazil: A Game-Changing Market Entry

In what could prove to be a transformative catalyst, Meridianbet secured a coveted federal license in Brazil – a market projected to reach $2.5-4 billion annually. With instant access to over 100 million potential customers across all 26 states, this strategic move positions GMGI to capture substantial market share in one of the world’s most lucrative gaming opportunities.

North American Expansion Accelerates

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The Group’s momentum in North America exemplifies its multi-market growth strategy:

  • Strategic entry into the rapidly expanding U.S. sweepstakes gaming market, leveraging proprietary content from Expanse Studios
  • Pending gaming license in Ontario, Canada’s largest regulated market
  • Deployment of AI-driven gaming solutions to maximize player engagement and retention

 

GMGI’s Unified Ecosystem: A Competitive Moat

Meridianbet CEO showcased how the Group’s six synergistic companies create a formidable competitive advantage, presenting to investors a unique ecosystem:

  • Meridianbet’s presence in 18 regulated jurisdictions, powered by 1,200+ employees including 100 software engineers
  • Expanse Studios’ proprietary game development driving high-margin revenue lowering the reliance on third-party content
  • Strategic assets across key growth markets: Mexplay in South America, Rkings in the UK, and Classics for a Cause in Australia

2025: Multiple Growth Catalysts Ahead

The confluence of strategic initiatives positions GMGI for accelerated growth:

  • Brazil market ramp-up expected to drive substantial revenue expansion
  • Proprietary AI technology deployment enhancing player monetization
  • First-mover advantages in newly regulated markets
  • Continued margin expansion through operational efficiencies

For investors seeking exposure to the explosive growth in global gaming, GMGI represents a unique opportunity: a proven operator with proprietary technology, multiple growth vectors, and strategic positioning in the world’s most promising gaming markets.

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Latest News

GAN Selects Internet Vikings’ Hosting Solutions in Arkansas

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GAN Selects Internet Vikings’ Hosting Solutions in Arkansas

 

Internet Vikings, a licensed in-state hosting provider for iGaming and online sports betting, announces the extension of its relationship with GAN Sports®, a supplier of industry-leading casino content, into Arkansas.

Following a successful multi-state collaboration initiated in 2022, Internet Vikings continues to support GAN by delivering hosting services tailored to their operational needs. Internet Vikings is continuing to grow across the United States, as Arkansas becomes the latest state to benefit from their hosting services.

GAN, a B2B supplier of internet gambling software-as-a-service solutions, initially entered into an agreement with Internet Vikings in a landmark deal covering 15 states. Since then, the relationship has grown stronger, with GAN relying on Internet Vikings’  bare metal server solutions to support their large-scale U.S. operations.

This expansion into Arkansas follows a recent deployment in Nevada, where Internet Vikings also provides hosting solutions to GAN. As GAN continues to operate across regulated U.S. markets, Internet Vikings remains a dependable resource, and has demonstrated its reliability to support long-term growth.

Rickard Vikström, CEO and Founder of Internet Vikings, shared his thoughts, “Our relationship with GAN reflects the trust we’ve built over the years. It’s not just about providing hosting solutions; it’s about understanding their vision and exceeding their expectations.”

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