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Michigan Close to Besting New Jersey in Per Capita Online Casino Revenue
New Jersey has always been the top-performing online gambling state in per capita terms, but that may be about to change. Michigan online casinos and poker rooms won just under 53 cents per resident per day in February, compared to 55 cents for New Jersey. At current growth rates, the two will be neck-and-neck in March, and Michigan could […]
Everi Enters Historical Horse Racing Via Exacta Systems
Everi Holdings Inc. entered historical horse racing (HHR) through Exacta Systems’ technology. On March 2, Exacta announced Everi’s HHR games debuted at Boston Billiards Club and Casino in Nashua, NH. Exacta said among the HHR games on its system, Exacta Connect, are four “player-popular” titles: Patriot Extra Spin Triple Jackpot Gems Deluxe Wild Gems Extra Spin Blazin’ […]
PointsBet Says No US Expansion in 2023, Puts Focus On Existing Markets
PointsBet aims to curb US losses in 2023 by focusing on existing markets and pursuing high-value bettors. In the short term, that means passing on upcoming state launches. Long-term, however, the goal is long-term, sustainable success for the Aussie import. According to executives during a recent fiscal earnings call, the course correction is expected to […]
NorthStar Gaming Now Publicly Traded as TSXV:BET Following Reverse Takeover
Investors will shortly be able to purchase shares in Ontario’s homegrown online gambling operator NorthStar Gaming. The company announced on Mar. 3 that it had completed the reverse takeover process it was undergoing to become a publicly-traded corporation. Technically speaking, the former NorthStar Gaming is now a subsidiary of another company, Baden Resources, which has now taken on […]
Bally’s to Cut Sports Betting Losses, Emphasize Online Casino in 2023
Incoming CEO Robeson Reeves says that the future of Bally’s Corporation lies in online casino gaming more than in sports betting. It’s the latest of several companies to have made that pivot in the face of headwinds in the highly competitive US sports betting space. The decision may come as a small consolation to investors. Bally’s reported $425 million […]
Analysts Rate DraftKings Stock a ‘Buy’ After Company Raises 2023 Outlook
DraftKings stock has risen 36% over the past month, prompting many financial advisors to move it into the “Buy” category. Much of that increase came on Feb. 17, following an earnings call in which CEO Jason Robins promised investors that the company would achieve profitability in 2024. The gains follow a long period in which analysts […]
US Online Casinos Make $510 Million in January 2023 Despite Slowdown
Across six legal states, US online casinos produced over a half-billion in gross gaming revenue in January. However, they came up 4.8% short of the Bonus forecast for the month. That may suggest the industry’s growth is slowing down even more than expected. Full-year revenue rose 38% in 2022. Bonus projected that we’d see this slow to 21% in 2023. However, year-over-year growth in the monthly total for […]
DraftKings Drastically Reduces Connecticut Online Casino Promotional Spending to Start 2023
The amount DraftKings spent on promotions for casino users in Connecticut dropped 84% in January. This follows an 11-month period during which the company often paid out more in casino bonuses than its entire gross revenue. The sudden change may relate to statements CEO Jason Robins has made to investors about focusing on cost control and achieving profitability by Q4 2023. […]
Madison Square Garden CEO Fires MSG Sphere Executives as Setbacks Continue
James Dolan, CEO of Madison Square Garden Entertainment (MSGE), has removed two executives overseeing the construction of the MSG Sphere, a high-tech music venue on the Las Vegas Strip. Dolan planned to open MSG Sphere in 2021, but complications have pushed the opening back by two years and caused costs to skyrocket. The New York […]
Bally’s Proposes Rhode Island Online Casinos With Support From Senate President Ruggerio
Bally’s executive president Craig Eaton raised the possibility of Rhode Island online casinos at a Chamber of Commerce legislative luncheon sponsored by the company. After the event, Senate President Dominick J. Ruggerio told the Boston Globe that he supports the plan and claimed credit for having proposed it to Bally’s in the first place. To sell legislators on its […]