Author: David Randall

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,…

Recent research highlights a concerning “grey area” between traditional gambling and gaming with gambling characteristics, particularly affecting children and young people. The study focused on three specific demographics: children under 11, those impacted by another’s gambling habits, and those deemed vulnerable. Published on April 19, the report compiled data from interviews with children from each group, revealing a widespread exposure to gambling advertisements across online platforms. Particularly, vulnerable children reported higher instances of encountering such ads. The report stated, “The sensory nature of bright, loud and eye-catching gambling adverts and the language drew children in and misled them. Especially those…

888 Holdings recently provided a trading update, announcing a 2% revenue increase in the first quarter of 2024 compared to the last quarter of 2023. The company highlighted that this growth was driven by positive performances in several of its operational markets. The total revenue for the quarter was just above the forecasted range of £420 million to £430 million. In the UK and Ireland, although the overall online revenue saw a slight 1% drop quarter-over-quarter, this was mitigated by a 4% increase in gaming revenue, spurred by heightened customer activity during the Cheltenham Festival. 888 anticipates this region to…

The Danish Gambling Authority has recently criticized Mr Green for its inadequate risk assessment procedures. The authority has labeled the online gambling operator’s risk assessment as “insufficient” and has set a deadline for Mr Green to submit a revised version by June 10. Spillemyndigheden, the Danish regulator, pointed out significant shortcomings in Mr Green’s current approach, particularly noting the lack of “adequate procedures for internal controls.” The regulator emphasized that the existing procedures do not adequately define how often these internal controls should be performed, highlighting a major area of concern that needs immediate attention. In addition to improving its…

GambleAware recently shared new insights marking the first anniversary of the National Gambling Support Network, a coalition of services commissioned by GambleAware to provide support for gambling-related issues. Over the past year, individuals reaching out for treatment were contacted by member organizations within an average of 1.3 days, highlighting the responsiveness of the network which consists of 11 organizations. Significantly, the National Gambling Helpline, managed by GamCare for over 25 years, experienced a record number of contacts in January 2024, with 4,816 calls and online chats—the highest since its inception and marking the sixth record-breaking month since the start of…