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After Q1 Results, DraftKings Expects To Break Even On Adjusted EBITDA Basis
DraftKings released its Q1 financial results last week. The company generated $770 million in revenue for the quarter, representing 84% growth year-over-year. However, DraftKings still suffered a bottom-line loss of $397.1 million, or $0.87 per share. CEO and co-founder Jason Robins said the losses are part of the long-term strategy and told investors that the […]
Caesars to Jump Aboard Stand-Alone Casino App Trend
During a Q1 2023 investor call, Caesars announced plans for a stand-alone casino app focused on slots. Details about the new app are sparse, but the company expects it to launch this summer. Several of Caesars’s largest competitors already have secondary products targeting the pure casino user, so this is becoming something of a trend. Eric Hession, President of Caesars […]
PlayUp Settles With OCCC, Agrees Not To Pursue Ohio License for Four Years
Australian-based PlayUp has reached a settlement with the Ohio Casino Control Commission (OCCC) after the latter denied its sports betting license application. Under the settlement terms, PlayUp has agreed to pay $120,000 in fines and refrain from re-applying for an Ohio gaming license for four years. The fines consist of a $90,000 payment to the state […]
Revenue Trends: Resorts Overtakes Borgata as New Jersey’s Top iGaming License
There’s a new market leader among New Jersey online casino license-holders, as Resorts overtook Borgata in March. The latter has held the title since early 2021. Resorts acts as the land-based partner for DraftKings Casino, while Borgata is home to the overall US market-leading operator BetMGM. By all measures, March was a good month for the US online casino industry as […]
Ontario Online Gambling’s First Year: What Went Right & What Needs to Improve
Ontario’s online casino and sports betting market just turned one. We’ve seen some successes during that first year, but there’s plenty of room for improvement. The province reached the milestone at 12:01 a.m. on April 4, marking the end of a year of growth and growing pains. Simultaneously, it offers starting point for everything yet […]
Penn State Study Shows Impact of Regulated Gambling on Black Market
Data from a Penn State study supports the claim that fewer people bet illegally on offshore sites when local, regulated options are available. Diverting players from unsafe, illegal sites to comparatively safer regulated ones is one of the most common arguments for legalization. The university’s 2022 Online Gambling Report shows that far more Pennsylvanians now bet online legally […]
Las Vegas Visitors Are Younger, Gambling Less, But Spending More
The Las Vegas Convention and Visitors Authority (LVCVA) has released its 2022 Visitor Profile Study. The report shows that the city’s tourism industry has been rebounding well from the effects of COVID-19 and the resulting interruption to retail gambling. Some metrics, like international visitation, remain well below 2019 levels. Overall, however, the 2022 numbers show […]
AGA Tunes Marketing Standards, Reflecting Move Away From ‘Risk-Free’ Language
The American Gaming Association (AGA) has updated its Responsible Marketing Code for Sports Wagering for the first time since its creation in 2019. The changes reflect adjustments already being made by operators and regulators in response to media criticism. These include a ban on using the words “risk-free” and most college partnerships. The AGA is a trade […]
Inspired Gaming To Create Aristocrat’s NFL-Themed Virtual Sports Games
Aristocrat Gaming has tapped long-time partner Inspired Gaming to develop its NFL-branded virtual sports games. The virtual football titles will feature team logos and other NFL intellectual property, such as the Super Bowl, league conferences, and more. Virtual sports provide a betting experience similar to online sportsbooks, but the outcome is determined by chance rather […]
Small Town, Big Casino: Is It a Winning Gamble?
Casinos, especially full-featured resort casinos, present an economic opportunity. However, they can be a mixed blessing and can seem especially scary in smaller communities that already have more than their fair share of problems. The most common worries are crime and the direct impact of gambling on residents. Easier to overlook are the secondary economic […]