Press Releases
PlayIllinois.com: Sports betting drops again, but Illinois remains nation’s No. 2
Betting volume at Illinois sportsbooks hit $507 million in May, overcoming in-person registration requirements to fall only slightly from April, according to analysts from PlayIllinois, which tracks the state’s regulated online gaming and sports betting market. May’s handle was the second-largest of any state in the U.S., joining New Jersey as the only two states in the U.S. to take in more than $500 million in sports wagers in both April and May.
“It’s been a mild surprise that Illinois has managed to fare as well as it has through the first two months of what is typically the offseason for sports betting,” said Jessica Welman, analyst for the PlayUSA.com Network, which includes PlayIllinois.com. “In-person registration requirements will cap future growth. But the results in April and May do show just how active and engaged Illinois bettors have been.”
Betting at Illinois’ retail and online sportsbooks dropped 5.6% to $507.3 million in May from the $537.2 million in April, according to official data released Tuesday. The pace of betting slowed modestly, too, to $16.9 million per day over the 31 days of May from $17.9 million per day in April.
Gross gaming revenue fell 12.9% to $36.6 million in May from $42 million in April. That produced $36.2 million in adjusted gross revenue, yielding $5.9 million in state and local taxes. Sportsbooks have now generated $53.8 million in taxes since sports betting launched in 2020.
The handle in nearly every state has fallen since March, even as combined U.S. wagering climbed slightly in May from April. Of the Top 10 U.S. markets, Illinois’ month-over-month decrease in May wagering was behind the pace of New Jersey (up 8.9%), Indiana (up 7.6%), Nevada (up 4.3%), Colorado (up 1.8%), Iowa (down 2.9%), and Virginia (down 4.0%), but outperformed Michigan (down 6.0%), Tennessee (down 6.7%), and Pennsylvania (down 6.7%). Illinois’ handle dropped 15.2% in April, but that was better than most of the nation’s 10 largest markets, which all saw at least a 13% decline in betting from March to April.
Basketball has been the favorite over the last two months, generating $154.3 million in wagering in May, down from $171.4 million in April. Bettors have found local reasons to place a bet, too, particularly with a good run of play in May by the Chicago White Sox and Cubs. Bettors placed $126.1 million on baseball, up from $121.2 million in April.
Tennis ($32.6 million), soccer ($29.3 million), and hockey ($21.1 million) all drew significant action, too.
“Successful local teams are particularly important in months without football or a major betting holiday like March Madness,” said Joe Boozell, analyst for PlayIllinois.com. “Both the White Sox and Cubs won big in May, and that entices fans to place a bet on their favorite team. That helped make up for the Bulls and Blackhawks missing the postseason, lowering interest in both the NBA and NHL playoffs.”
$482.5 million, or 95.1%, of May’s bets were made online. DraftKings/Casino Queen rocketed back into the market lead with $170.1 million in combined online and retail handle, up from $169.6 million. May’s handle included $166.2 million in online bets and led to $7.2 million in gross gaming revenue.
FanDuel/Fairmont’s online and retail sportsbooks attracted $156.3 million in bets in May, down from $177.8 million in April. But the month’s bets, $155.6 million of which came online, generated a whopping $20.2 million in gross gaming revenue.
BetRivers/Rivers Casino rose to $89 million in combined handle, including $76.7 million in online wagering. That led to $5.2 million in gross gaming revenue.
The leaders were followed by:
- Barstool/Hollywood Casinos ($39.6 million in wagers, including $38.2 million online; $1.5 million in revenue)
- PointsBet/Hawthorne Race Course ($39 million in wagers, including $37.4 million online; $2.3 million in revenue)
- William Hill/Grand Victoria ($9.1 million in wagers, including $8.4 million online; -$128,245 in revenue)
- Argosy ($2.7 million in wagers; $338,081 in revenue)
- Hollywood Joliet ($1.2 million in wagers; $167,282 in revenue)
- Par-A-Dice ($327,350 in wagers; -$236,850 in revenue)
The market could get more competition in the coming months, too. That includes the Illinois arrival of BetMGM, the nation’s third-largest online sportsbook operator, as well as Unibet, Golden Nugget, theScore, and Bally’s.
“A fresh infusion of operators has the potential to eventually lift the ceiling for the market,” Boozell said. “But until online registration returns to the state, new operators will remain at a permanent disadvantage. And that will blunt any boost the market would ordinarily get from new sportsbooks.”
For more detailed revenue information, visit PlayIllinois.com/revenue.
Compliance Updates
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.
Conferences
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
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.
Latest News
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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