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PlayIA.com: Sportsbooks surge again with $280 million in October

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ILLINOIS SPORTSBOOKS HIT RECORD $840 MILLION IN BETS IN OCTOBER Football, basketball betting spurs records for handle, revenue, and tax revenue as end of in-person registration requirements approaches, according to PlayIllinois

 

Iowa sportsbooks took in more than $280 million in bets in October, catapulting past September’s record for monthly wagers by a whopping $70 million. With five weekends of football, an October surge was expected even if one not this large. Iowa’s sportsbooks have now collected more in bets over the last three months ($599.8 million) than in all of 2020 ($575.2 million), according to PlayIA, a leading source for news and analysis of the Iowa gaming market.   

“With baseball’s postseason, the start of the NBA, and a calendar packed with football, bettors found so much to bet on,” said Eric Ramsey, an analyst for the PlayUSA.com Network, which includes PlayIA.com. “Iowa has also made a significant leap forward in maturation as more operators launch and Iowans begin to feel more comfortable with online sports betting. A maturing market and busy sports calendar proved to be a powerful combination.”

Iowa’s online and retail sportsbooks took in $280.9 million in wagers, up 243% from $81.9 million in October 2020 and breaking the record $210.4 million handle reached in September, according to official data released Thursday. Bettors averaged $9.1 million per day during the month, an increase over the $2.6 million per day in October 2020.

Iowa sportsbooks have now accepted $2.3 billion in wagers since launching.

Taxable revenue rose 27.8% to $6.6 million in October from $2.8 million in October 2020 and 14.7% from $5.7 million in September. The combined gains yielded $514,643 in tax revenue for the state.

“The enthusiasm over Iowa and Iowa State football waned a bit in October, but both are still drawing a lot of interest to the state’s sportsbooks,” said Russ Mitchell, lead analyst for PlayIA.com. “There won’t be another opportunity like the Cy-Hawk game featuring two Top 10 teams anytime soon, but on the whole, Iowa’s sports betting industry is in a great position headed into the final months of 2021.” 

Online betting accounted for $249.9 million, or 89%, of October’s handle, yielding $3.5 million in revenue. Retail betting represented the remaining $31.0 million, producing $3.0 million in net receipts. 

Caesars topped the online market with $97.0 million in wagers, but lost $1.6 million in revenue. DraftKings followed with $76.4 million in online wagering, producing $1.4 million in net receipts.

Diamond Jo Worth led retailers with $7.2 million in bets, yielding $788,755 in revenue. Ameristar Council Bluffs was just behind with $7.1 million in wagers, which produced $601,591 in net receipts.

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Iowa’s roster of online operators has grown more robust, too. Fubo Sportsbook soft-launched on Sept. 23, Betway launched Oct. 1, and Circa Sports began taking bets on Oct. 7. With Barstool Sports’ launch on Nov. 2, Iowa is now home to 17 online operators, the most per capita of any legal market in the U.S. And even more are preparing to enter the market soon.

“Iowa is an enticing market for operators because it has a fair regulatory framework and top operators, such as FanDuel and DraftKings, don’t dominate the market as much as in other states,” Ramsey said. “That provides an opportunity for smaller operators to gain a foothold, which does not exist in larger and more established markets.”

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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