Author: David Randall

In the first quarter of 2024, Codere reported a significant decline in revenue, falling from €363.1 million in Q1 2023 to a lower figure, which also saw a decrease in adjusted EBITDA by 26.6%, dropping from €64.4 million to €47.3 million. The company’s consolidated net revenues also saw a reduction, amounting to €185.9 million, a 12.1% decrease compared to €211.5 million in the same quarter the previous year. Despite these decreases, Codere’s financial stability remains intact, with a cash position only slightly adjusted from €107.5 million at the start of the period to €104 million. The company attributes this stability…

In April, New York’s sports betting market experienced significant growth, with a handle reaching $1.87 billion, marking a 27.3% increase from the previous year’s $1.54 billion and a 6.0% rise from March’s $1.85 billion. This figure places April as the fifth highest monthly spend on record in the state. Gross gaming revenue from sports wagering also saw a substantial boost, totaling $183.8 million, a 32.4% increase from $138.8 million in April last year and 21.2% more than March’s $151.7 million. The highest revenue record still stands at $211.5 million, set in January of this year, with the highest betting handle…

The agreement between DraftKings and Sports IQ was recently announced, albeit with few details disclosed publicly. Sports IQ CEO Omer Dor confirmed the acquisition via a LinkedIn post, but DraftKings has yet to issue any statement regarding the merger. Sports IQ, headquartered in Vancouver, Canada, specializes in developing software tailored for online sports betting, supporting over 12,000 events annually and offering extensive in-play markets. With this acquisition, Sports IQ hopes to augment its offerings and reach. Omer Dor, the CEO of Sports IQ, expressed his excitement about the new phase of the company’s journey. “I’m excited for this next chapter…

Enteractive, a company that thrives in the sports entertainment and gaming sectors, recently secured a strategic investment from Bettor Capital, though the financial specifics were not disclosed. Enteractive is recognized for its super affiliate business model, which it enhances through various platforms that engage viewers and generate revenue. The investment by Bettor Capital is described as a limited/non-controlling stake. Enteractive plans to leverage these new funds to further its growth in the U.S. market and to support its global strategies in online sports betting and casino operations. Mikael Hansson, CEO of Enteractive, expressed his enthusiasm about the partnership, stating, “We’ve…

The push to legalize sports betting in Missouri has gained significant momentum, led by the “Winning for Missouri Education” group, supported by six professional sports franchises in the state. The initiative aims to address the absence of legal sports betting in Missouri, a situation that has resulted in missed state revenue opportunities and residents resorting to offshore operators or crossing state lines to place bets. Surpassing the required 180,000 verified signatures well ahead of the May 5 deadline, the petition garnered an impressive 325,000 signatures, reflecting substantial public backing. This initiative seeks to bypass the state’s general assembly, which has…

DraftKings boasted a remarkable revenue of $405 million for the first quarter ending on March 31, surpassing last year’s Q1 earnings of $769.7 million. Demonstrating robust confidence in its performance, the company is revising its full-year revenue and adjusted EBITDA projections upwards. CEO Robins attributed this growth to several factors, including sustained customer engagement, the acquisition of new players, expansion of the sportsbook into new territories, an increased structural sportsbook hold percentage, and enhanced promotional reinvestment for both sportsbook and igaming. Key highlights from Q1 include the introduction of the sportsbook in North Carolina and Vermont, along with a strategic…

A newly proposed bill in Bulgaria aims to significantly amend the country’s gambling laws, particularly focusing on advertising restrictions. The legislation, introduced last week by the political alliances GERB-UDF and the Movement for Rights and Freedoms, seeks to prohibit gambling ads across various media platforms including online, television, radio, and print. Additionally, advertisements would not be allowed on buildings. The proposed changes received strong parliamentary support, with 198 MPs voting in favor during the second reading session on April 30. The bill will become effective three days following its official publication in the State Gazette, although the exact date of…

Craig Felenstein is set to step into the shoes of Gerrard Griffin, who is slated to depart Sportradar by the end of May, as confirmed by the company earlier this year. Felenstein brings with him a wealth of experience, having most recently served as the CFO of Lindblad Expeditions since September 2016. Prior to this, he held the position of senior vice-president of investor relations and strategic finance at Shutterstock. His career journey also includes a notable stint at Discovery Communications, where he occupied various senior investor positions, culminating in his role as executive vice-president of investor relations. Felenstein also…

In March, Nevada’s gaming revenue experienced a decline, falling short of February’s total of $1.34 billion and trailing behind last year’s March revenue by 1.5%, which amounted to $1.31 billion. The state collected $86.5 million in taxes for the month. Slot machines remained the primary revenue driver, bringing in $874.5 million, constituting 67.8% of the total revenue for the month. Slot revenue for March saw a 5.7% increase compared to February, reaching $827.6 million. However, only multi-denomination slots showed year-on-year growth in this segment. Conversely, revenue from table, counter, and card games totaled $415.9 million, marking a 19.2% decrease from…

Betsson reported a robust financial performance for the first quarter ending on March 31, with revenue reaching €248.2 million, marking an 11.9% increase from the same period last year. This growth was fueled by expansion across various key markets. Notably, the company launched a second brand in Italy, accompanying its flagship Betsson brand, which went live in March alongside StarCasinò, an established entity in the Italian market. During the quarter, Betsson also introduced Betfirst in Belgium, expanding its presence in Western Europe. Additionally, it acquired Holland Gaming Technology and game studio Holland Power Gaming, further bolstering its portfolio. Further afield,…