The American Gaming Association (AGA) has published a new survey on the upcoming Super Bowl LVIII. According to the association, a quarter of the American adult population (26%, or 68 million) is expected to wager a whopping $23.1 billion on the Big Game.

This figure would represent a significant increase from the $16 billion Americans wagered last year. The higher numbers were attributed to the increase in states where sports betting is now legal.

Based on a sample of 2,204 adults, the AGA concluded that 42.7 million American adults will likely place a traditional sports wager online, at a retail sportsbook or with a bookie. This represents a 41% increase from 2023.

In the meantime, 36.5 million are planning to bet casually with friends or as a part of a pool or squares contest, up 32% from 2023.

The AGA also pointed out that more and more bettors are now wagering with legal sports betting operators. According to the association 28.7 million adults, or 11% of the adult population, are planning to bet using a regulated US sportsbook.

The AGA also said that 47% of bettors are planning to bet on the Kansas City Chiefs against 44% planning to bet on the San Francisco 49ers.

Bill Miller Highlights the Importance of Player Protection

AGA’s president and chief executive, Bill Miller, commented on the figures, saying that America is experiencing record interest in wagering. He added that this means that player protection is more important than ever, which is why the AGA will continue prioritizing investment in responsible gambling tools.

In line with that, 75% of Super Bowl bettors have reported seeing responsible gambling messages. In addition, 47% of all American adults have heard or seen a responsible gambling ad at least one time in the past year, up from 40% in 2022.

During Super Bowl week, AGA’s Miller will join forces with ex-NFL professional and current Fox Sports Big Noon Kickoff host Mark Ingram II. The two will comment on the state of sports betting in the US and the importance of safer gambling.

The thrill of the game and the passion of the fans are what make sports so rewarding and fun. Legalized sports betting builds on this excitement. That’s why I’m thrilled to partner with the American Gaming Association to encourage fans, whether it’s during the Big Game or throughout the year, to keep it social and wager responsibly.

Mark Ingram II

For reference, sports betting is now legal in 38 states and Washington DC, providing over 67% of all adult Americans with access to legal betting.

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As per the white paper, the United Kingdom is planning to proceed with its plans to introduce the statutory levy. The country’s current gambling minister, Stuart Andrew, believes that the UK will be able to deliver it for summer 2024.

For reference, the statutory levy is a measure that would force gambling operators to pay between 0.1% and 1% of their gross gaming revenue as a type of gambling tax that would fund gambling harm research, education and treatment. The levy would replace the existing voluntary system.

Andrew commented on the matter during the annual GambleAware conference, explaining the government’s progress when it comes to the implementation of the levy. He said that the government is focused on ensuring a seamless transition that would not hurt RET funding, allowing gambling harm charities to continue their work.

Andrew said that everything would come to “getting the timing right” and ensuring that all the necessary infrastructure, processes and relationships are in place. This means that the measure must be introduced in Parliament as quickly as possible, allowing his team to create the foundations for the levy.

The minister added that he hopes to create a clear roadmap that his team would follow when implementing the levy.

The Reforms May Take Years

In the meantime, Andrew is working with industry shareholders, consulting the upcoming measure. According to him, the industry will not cancel its voluntary funding until the levy has been officially introduced.

Unfortunately, the implementation of all the white paper measures is unlikely to happen anytime soon and certainly not before the next general election. According to Andrew Rhodes, CEO of the UK Gambling Commission, implementing so many measures is likely to keep his team occupied for the next few years.

Rhodes emphasized the need to approach the reforms with care rather than haste, ensuring that everything is well thought-out and functional. Despite that, critics have slammed the pace of the reforms, critiquing the government for its slow progress.

Rhodes, however, remains firm that progress is being made. He promised that the moderate pace would allow his team to create a UK gambling market that is safer and fairer.

Speaking of safe gambling, the UK government just outlined who may benefit from gambling addiction treatment.

In the meantime, the UK continues to discuss the controversial affordability checks, another measure outlined in the Gambling Act white paper.

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American casino and hospitality giant Caesars Entertainment continues its work on its upcoming property in Danville, Virginia. Danville Register & Bee, a local news outlet, inquired about the state of the project and learned that everything seems to be on track for a 2024 opening.

The outlet contacted Caesars Virginia’s general manager, Chris Albrecht, who provided an update on the progress his team has made. According to him, the hotel tower is under construction, with the workers currently building the third floor. In the meantime, progress is being made on the casino basement, including back-of-house areas and the loading dock. Albrecht added that several customer surface parking lots are also nearing completion.

The Virginia property cost Caesars $650 million and is expected to contribute $38 million in tax revenue to Danville once it launches. The property is being constructed by Whiting-Turner, which has also worked on Horseshoe Baltimore, Caesars Palace Las Vegas, and a number of other venues.

The new casino will sport some 1,400 slots, 85 live table games, 24 electronic table games, a WSOP room and a Caesars Sportsbook. In addition, the property will have a 500-room hotel, a 2,500-seat theater and a 40,000-square-foot convention area.

Albrecht said that Caesars expects to meet the 2024 deadline when it comes to opening the new casino resort. In the meantime, players can enjoy gaming in Caesars’ temporary gaming facility in Danville.

Danville Players Can Play at Caesars’ Temporary Casino

Caesars’ temporary property in the city is currently open to local customers and boasts a team of over 400 employees. It opened on May 15 and has almost 800 slot machines, 33 table games, 36 electronic table games and 12 sports betting kiosks.

The temporary casino team will move over to the full resort, according to Albrecht. In addition, Caesars will start posting for positions at the full resort in mid-2024, according to the manager.

Albrecht couldn’t confirm whether Caesars Virginia will sport the 1,300-employee team it had anticipated. In any case, the company will need a much larger team than the one managing the temporary casino.

Albrecht also refrained from commenting on which restaurants will be available to visitors and promised that the company will share more specifics at a later date.

In other news, Caesars just offered two years of IDX services to its loyalty program customers whose data got compromised during the recent cybersecurity incident.

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South Korea’s tourism and casino industries anticipate a significant boost with the return of Chinese group tours, suggests a recent report by NH Investment & Securities Co Ltd.

This move follows China’s August announcement about easing travel restrictions for its citizens and allowing group travel to more destinations, including Japan and South Korea, as part of the post-Covid-19 measures.

According to sources, the South Korean government is further incentivising group tourism by waiving processing fees, which were “currently set at KRW18,000 [about US$13.60] for visitors arriving in groups” until the end of this year.

NH Investment’s analyst Hazell Lee commented on this resurgence, declaring it likely to have a positive impact on South Korea’s casinos.

MORE: CHINESE ONLINE CASINOS

“The expansion of Chinese inbound traffic following the resumption of group tours to [South] Korea should eventually lead to a sharp recovery in the number of casino visitors, especially mass visitors,” she said.

The relationship between China and South Korea’s tourism sectors has been strained in recent years. It began with tensions over Seoul’s deployment of a U.S. missile defence system in 2017. While China didn’t publicly admit to restricting group tours to South Korea, the situation was further exacerbated in 2020 when China implemented a broad ban on outbound group tours due to the Covid-19 pandemic.

However, Ms. Lee provided a word of caution, noting that while mass-market tourism is expected to see a resurgence, VIP gaming segments might still lag.

Recent policy shifts in China underscore a negative sentiment towards high stakes casino players. In the past few years, Chinese authorities have cracked down on citizens traveling abroad for casino play or participating in online betting activities, which they term as “cross-border gambling”. China further solidified this stance by amending its criminal code in March 2021, making it illegal for anyone to facilitate such activities.

In conclusion, Ms. Lee particularly highlighted the potential benefits for South Korea’s foreigner-only casino operator, Paradise Co Ltd. She believes that both the gaming and non-gaming sectors of the company stand to “benefit significantly” from the revival of Chinese group tours. Specifically, she emphasized that the amenities and accessibility of Paradise City, the company’s casino resort complex in Incheon, should be particularly appealing to group visitors and casino enthusiasts.

As per the Korea Casino Association, South Korea boasts 17 casinos, 16 of which are exclusively open to foreign visitors.

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The gambling regulator in Michigan, the Michigan Gaming Control Board (MGCB), would benefit from nearly $51 million in funding, after the state’s legislators reached an agreement for the Fiscal Year 2024 budget. Overall, some $50.7 million would be dedicated to the regulator, allowing it to continue to effectively monitor the market and promote responsible gambling.

Within the new budget, some $3 million in annual funding is allocated for MGCB’s responsible gaming messaging campaign called “Don’t Regret the Bet.” The responsible gaming initiative seeks to raise awareness of problem gambling and help residents of Michigan to keep their gambling under control.

According to the gambling regulator, as a part of the new 2024 budget, it will benefit from $2.2 million which will be allocated for 16 full-time equivalent (FTE) employee positions that can support new gambling programs. Additionally, the regulator will benefit from a one-time funding of $2 million which will be used “to create an accounts receivable system that is integrated with an existing internal agency database and the state’s financial system, SIGMA.”

The new budget agreement is now awaiting the signature of Gov. Gretchen Whitmer. Once that happens and the new bipartisan budget agreement is signed into law, the allocation of funds is expected to be completed on October 1, 2023, which marks the start of the state’s FY2024 budget calendar year.

The Funding Will Provide Vital Support for the MGCB

Henry Williams, MGCB’s executive director, spoke about the importance of having a gaming regulator that is sufficiently funded. He explained that the MGCB plays a key role in combating illegal activities and fraud, while at the same time promoting safer gambling.

Finally, Williams pointed out: “I sincerely appreciate the support from Governor Whitmer and the Legislature of a budget that will help the MGCB continue its responsible gaming messaging campaign, support our state’s growing gaming economy, and allow us to grow our team and make investments into efficient systems that help strengthen our mission and integrity while supporting those we serve.”

“A well-funded gaming control agency is crucial for ensuring fair and honest gaming in the State of Michigan, preventing fraud and illegal activities, and addressing problem gambling.“

Henry Williams, executive director at the MGCB

The announcement about the new budget comes after the results for the three casinos in Detroit for May were released recently. Judging by the latest report by the MGCB, the state’s three casinos reported $105.6 million in monthly aggregate revenue. This helped raise some $8.5 million in taxes, which was in line with the $8.6 million in taxes collected in May 2022.

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Nordic gaming group Paf released its 2022 annual report, posting a record-high turnover and an impressive increase in net profit.

Turnover by Divisions

For the twelve months ended December 31, 2022, Paf Group registered a turnover of €165.7 million ($179 million), posting an increase of 23% from €135 million ($145.8 million) the group accounted for in 2021.

“We are pleased with last year, it is a good result and a testament to our ability to deliver,” commented Paf’s chief executive officer Christer Fahlstedt, highlighting Sweden, Switzerland and Spain as the gaming destinations which stood out, as well as the recovery of the group’s ship operations.

Paf’s internet operations in the year accounted for €142.1 million ($153.5 million), generating 17% more than in 2021 (€121.2 million ($130.9 million)), with particularly strong growth registered across the Swedish and Spanish markets.

The group attributed the turnover increase to the record number of active customers during the year, 483,595, which increased by 44% from 336,206 in 2021, and expects the number of its active customers to continue to grow in 2023.

Turnover from land and ship operations generated €23.5 million ($25.4 million), increasing by more than 70% year-over-year mainly due to a sharp increase in the number of passengers on board the vessels compared to the prior year. Paf believes there is still room for this number to increase and reach the 2019 level and expects the positive trend to continue in 2023.

Other operating income increased by 9%, from €6.8 million ($7.3 million) in 2021 to €10.1 million ($10.9 million) now, mainly due to the increased sales of gambling platforms and associated services.

Expenses, Operating Profit, Net Profit

Costs in 2022 aggregated to €128.3 million ($138.6 million), up 20% from €106.8 million ($115.3 million) in 2021. There were increases in materials and services costs, €39.5 million ($42.7 million), up 30% from €30.3 million ($32.7 million) in 2021, and other operating expenses which were up by more than 25% to €54 million ($58.3 million) from €43.1 million ($46.5 million) in 2021, and staff costs marginally increased while the cost of depreciation remained almost unchanged.

Paf explained the increased costs by an increase in marketing expenses, costs for the cloud-based technology and travel expenses.

Paf Group ended 2022 with an operating profit of €48.5 million ($52.4 million), up 36% from €35.7 million ($38.6 million) in 2021. The net result of financial income and expenses was a loss of €1.6 million ($1.73 million) while in 2021 it was €300,000 ($324,000).

“Paf’s purpose is to generate funds for the benefit of society and with the strong result we can distribute €33.1 million,” said Paf’s chairman Jan-Mikael von Schantz, thanking all employees for their performance over the past year.

Net profit in 2022 was €44.4 million ($48 million), registering an impressive increase of more than 35% from €32.8 million ($35.4 million) in 2021.

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