Author: Staff Writer

Operators seeking a sports betting license in North Carolina are required to submit their proposed controls by a specific deadline to ensure readiness for the market’s opening day, according to the North Carolina State Lottery. This directive was established during a Commission meeting held on January 10th. During the same session, the Commission also endorsed procedures and guidance documents for applicants to submit their internal controls for approval. Before offering bets in North Carolina, every licensed operator must obtain approval for their internal controls. However, there is still uncertainty surrounding the actual launch date for legal sports betting in the…

In 2023, the Detroit land-based casinos found their most significant source of revenue in slot machines, contributing to a staggering $984.1 million in aggregate revenue. This figure marked a slight increase from the previous year, which stood at $983.7 million. However, table games revenue took a hit, declining by 12.7% to $238.7 million, while retail sports betting’s adjusted gross receipts (QAGR) also fell by 25.7%, reaching $14.0 million. Slot machines continued to dominate Detroit’s casino landscape, making up 80.0% of the total revenue for 2023, with table games accounting for 19.0% and sports betting lagging behind at just over 1.0%.…

Recent research has unveiled a concerning surge in the exploitation of self-excluded players on GAMSTOP by the black market. Between 2021 and 2022, the number of illegal gambling operators in the UK grew by an astonishing fourfold, and this figure further doubled to 231 by 2023. Shockingly, over 1,000 affiliates actively promoted these unlawful operators, exacerbating the issue. Yield Sec, a security firm, has determined that this illegal gambling now constitutes 4% of the UK’s online gambling market share and gross gaming revenue (GGR). This not only results in a substantial decrease in tax revenue but also hinders funding for…

The UK Gambling Commission has levied a £6.0 million fine against Gamesys, a subsidiary of Ballys Corporation, following a compliance assessment in May 2022. The fine is related to Gamesys’ activities spanning from November 2021 to July 2022. Gamesys operates 16 UK-based websites, including Ballycasino.co.uk, Doublebubblebingo.com, Jackpotjoy.com, and Megawayscasino.com. As part of the regulatory response, Gamesys will undergo a third-party audit to ensure effective implementation of Anti-Money Laundering (AML) and safer gambling policies. Kay Roberts, the Commission’s Executive Director of Operations, emphasized the regulator’s commitment to ensuring fair, safe, and crime-free gambling practices. Roberts stated that they take their responsibility…

In January 2023, GMGI entered into an agreement to acquire MeridianBet for approximately $300.0 million (£235.1 million/€273.8 million), with hopes of finalizing the deal in the first half of 2023. However, in July, GMGI made several modifications to the deal, postponing the closing date to the fourth quarter of 2023 and reducing the up-front cash payment. In October, further amendments were disclosed following ongoing discussions between the two parties, with the primary change being an extension of the proposed closing date, possibly as late as the first quarter of 2024. Although GMGI initially aimed to complete the deal by the…

LiveScore recently released its full-year report for the period ending on March 31, 2023. The report primarily focused on the company’s performance in three key areas: Virgin Bet, LiveScore Bet, and its sports media business. In terms of revenue, gambling activities played a significant role, contributing £108.0 million, marking a remarkable increase of 57.3% compared to the previous year. The remaining portion of the revenue, amounting to £21.6 million, came from advertising, showing a respectable growth of 17.7%. LiveScore’s CEO, Sam Sadi, shared the company’s future aspirations with iGB in October 2023. LiveScore is aiming to become the leading global…

Gaming Innovation Group (GiG) has officially launched its igaming platform and sportsbook in Portugal, under a partnership with Betway. This collaboration, first announced in April 2022, is a significant milestone for Betway, which had secured licenses for sports betting and igaming in Portugal back in February 2020. It also marks GiG’s continued expansion in the country, with GoldenPark having gone live in Portugal the previous year, utilizing GiG’s player account manager and sportsbook. Betway’s CEO, Anthony Werkman, expressed his enthusiasm for the partnership, stating, “As part of our ambitious growth strategy for Portugal in 2024, this GiG platform will help…

Kristian Nylén, the co-founder of Kambi alongside Anders Ström in 2010, is stepping down from his position as the company’s leader. Under his leadership, Kambi has grown to become a prominent sportsbook supplier in the industry. Nylén’s decision to resign is driven by his desire to dedicate more time to his family. In his statement, Nylén expressed the difficulty of this decision but emphasized his commitment to spending quality time with his young and growing family. He plans to step down from his current role once a suitable successor is appointed. Despite the news of Nylén’s resignation, the market response…

Bet365, a leading online gambling operator, reported a significant loss of £61.2 million for the fiscal year ending on March 26, 2023, in stark contrast to the £42.8 million profit posted the previous year. The company attributed this loss to a surge in costs across its operations. Direct costs increased by 4.1%, reaching £516.6 million, while administrative expenses soared by 42.2% to £2.93 billion. Despite these challenges, Bet365 managed to boost its revenue during the same period. The operating loss for the year amounted to £37.3 million, compared to a profit of £15.4 million in the prior year. Additionally, there…

Maryland’s December revenue displayed a promising uptick, exceeding the November figures by 5%, reaching a total of $165.6 million compared to the previous $157.7 million. Contributions to the state’s coffers also saw a modest increase, climbing from $69.7 million in November to $70.2 million in December. MGM National Harbor once again asserted its dominance among the state’s six privately-owned casinos, contributing significantly to the overall figures with $70.8 million in December revenue. Live! Casino & Hotel followed closely with $60.6 million in revenue, leaving a substantial gap between them and the third-ranked Horseshoe Casino, owned by Caesars Entertainment, which reported…