Internet casino gambling in the United States has a bright future ahead, according to industry experts and executives, who participated in this year’s SBC Summit North America. Despite a range of obstacles that are currently thwarting its expansion and concerns regarding its impact on brick-and-mortar casinos, the overall sentiment from the industry is positive.

Industry Executives Optimistic Despite Sluggish Uptake of iGaming

The progress of legalizing online casino gambling in the US has been slow but still a number of US states, including Connecticut, Delaware, Michigan, New Jersey, Pennsylvania, Rhode Island, and West Virginia, have already introduced it. Despite this slow uptake, industry experts and leaders believe that the future of gambling lies online.

Elizabeth Suever, a vice president at Bally’s Corporation, noted that consumers, particularly millennials, have changed their habits considerably and are more and more reliant on their smartphones for anything from shopping to banking services making their lifestyles predominantly mobile-centric. She added that this is where gambling is going to as well, reported the Associated Press.

However, these positive sentiments do not reflect the state of the market. Despite online sports betting being available in 38 US states and Washington D.C., internet gambling has remained very limited. Even Nevada, the Mecca of gambling, has only introduced online poker and no online casino games.

Controversy Amidst Hope: Addressing Concerns in US Online Gaming Expansion

Shawn Fluharty, president of the National Council of Legislators from Gaming States, highlighted that there is a significant disparity between the extensive growth of sports betting following the US Supreme Court’s landmark decision in 2018 and the next-to-non-existent expansion of online casino gaming. However, he also expressed optimism about the eventual uptake of igaming. 

Brandt Iden, a vice president at Fanatics Betting & Gaming, echoed this sentiment. He commented on how important it is to embrace online gaming for the industry as a whole in order to be successful. He also stressed that the industry has to make efforts to educate legislators regarding the benefits of legalized online platforms compared to illegal offshore gambling websites.

The industry’s stance may be positive, but there are still many concerns regarding the negative implications of the spread of iGaming across the US. These include fear of increased addiction rates and the cannibalization of revenues from physical casinos.

However, online gambling supporters argue that iGaming can complement traditional casinos and stimulate economic growth. Adam Glass, an executive at Rush Street Interactive, highlighted that there is a potential for new job openings and synergy between online and offline gaming operators.

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In a significant move, a Mississippi House committee successfully advanced the Mississippi Mobile Sports Wagering Act, paving the way for the legalization of online sports betting in the state. The bill aims to tap into the burgeoning demand for mobile sports wagering, addressing concerns about the thriving black market dominating the sector.

Legislators Aim To Protect Existing Businesses

While brick-and-mortar sportsbooks have been legal in Mississippi for some time, online betting has been conspicuously absent, partly due to fears that it might impact the revenue streams of the state’s physical casinos. However, with the growing prevalence of illegal offshore sports betting platforms, legislators recognize the need to regulate and capitalize on the lucrative market.

The Mississippi Mobile Sports Wagering Act, championed by Republican Rep. Casey Eure of Saucier, mandates that online gambling companies enter into contracts with brick-and-mortar establishments. The move is poised to bring substantial tax revenue to the state, with estimates surpassing $25 million annually. This approach should also guarantee that brick-and-mortar stores remain competitive.

Despite provisions to protect existing businesses, critics have raised concerns about protecting smaller casinos in rural areas, which do not benefit from the safeguards envisioned in the bill. Many fear that the ease of online gambling would dissuade many bettors from traveling, negatively impacting such establishments and their surrounding businesses.

A Legal Betting Alternative Will Curb Black Market Wagering

Rep. Eure contends that legalizing mobile sports betting will significantly diminish the illegal market, preventing it from siphoning funds out of the state. Mississippi currently occupies the leading position among US states in online black market sports betting searches. Eure emphasized that Mississippi lost approximately $3 billion yearly in illegal bets, while these funds could instead be taxed and used to cover vital expenses.

Once you legalize mobile sports betting, you do away with a lot of that illegal market. Across the US each year, illegal betting sites see about $64 billion in wagers. Mississippi makes up 5% of that market.

Rep. Casey Eure

GeoComply Solutions Inc., a geolocation data company, revealed millions of instances where mobile devices in Mississippi accessed legal sports betting sites in neighboring states. Tennessee and Louisiana, adjacent to Mississippi, have legalized online sports betting since 2020 and 2022, respectively, and have achieved significant success. Rising interest among the populace means that regulated online wagering in Mississippi is a matter of time, prompting legislators to try and capitalize on the trend as quickly as possible.

The bill has cleared the committee stage and now awaits consideration by the full House. If successfully passed into law, Mississippi would join the growing number of states leveraging online sports betting to boost revenues and provide residents with a safe, sustainable alternative to black market operators. However, lawmakers must gather the political will to push on with reforms and ensure that bettors receive all necessary protections.

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Petersburg is once again placing its bet on a casino referendum, now landing on the legislative floor of the 2024 Virginia General Assembly. This time, the city is armed with influential backers and a revamped Senate Bill 628, seeking to redefine the criteria for the host city.

Senators Aird and Lucas Spearhead Key Changes in Casino Bill

While not explicitly earmarking Petersburg as the fifth casino host city, the bill, championed by newly appointed Sen. Lashrecse Aird, D-Petersburg, and Senate Finance & Appropriations Committee chair Louise Lucas, D-Portsmouth, proposes significant amendments to the host city requirements, reported The Progress-Index. 

Notably, the population threshold is discarded, and adjustments to tax-exempted real estate and poverty rate criteria are proposed. Additionally, a new stipulation mandates that the host city must have experienced an unemployment rate of at least 13% in 2020.

In 2020, Petersburg’s unemployment rate stood at a staggering 21.1%, aligning seamlessly with the newly introduced criterion. The inclusion of such factors aims to tailor the bill to Petersburg’s unique circumstances and economic needs.

Sen. Lucas, who previously opposed Petersburg’s casino ambitions, has surprisingly thrown her weight behind the latest effort. In an unexpected turn, she acknowledged that her past reservations were influenced, in part, by the approach of Sen. Joe Morrissey, whom Aird defeated in the Democratic primary last June.

Lucas, who chairs the influential Senate Finance & Appropriations Committee, had been a formidable obstacle in the prior two legislative sessions. Her support this time around significantly bolsters the casino’s chances. Lucas represents the district encompassing Rivers Casino in Portsmouth, one of the three operational casinos in the state.

Petersburg’s Casino Bid Gains Momentum After Facing Hurdles

The push for a Petersburg casino has been a recurring theme in recent years. Following Richmond’s rejection in 2021, Petersburg eagerly stepped into the fray but faced consecutive setbacks in the 2022 and 2023 legislative sessions. Morrissey and Del. Kim Taylor, R-Dinwiddie County, championed the cause unsuccessfully.

This year, Taylor has opted to lend her support to Senate Bill 628 rather than introducing a separate House companion. She emphasized the significance of consolidating efforts and conveyed that having a single introductory bill enables energies to be concentrated in one place on one bill. Taylor affirmed her commitment to ensuring that voters in the 82nd District have a voice in the matter.

The legislative journey for Senate Bill 628 mirrors past sessions, with hearings scheduled in the Senate General Laws & Technology Committee, chaired by Aird, and subsequently in Senate Finance & Appropriations, chaired by Lucas.

In a departure from previous proposals, the Aird-Lucas bill omits language favoring Native American tribes in Virginia. Norfolk‘s proposed HeadWaters Casino, supported by the Pamunkey tribe, will no longer receive preferred consideration.

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SOFTSWISS, the international supplier of software and content for online casinos and sports betting websites, has announced that the company has achieved great success at iGaming IDOL Awards 2023, an annual industry event that celebrates the best performers in the realm of online gambling.

At this year’s event, SOFTSWISS was designated Brand IDOL of the Year, an award that the company says represents “a significant milestone” in its history. The award recognizes the success of the brand awareness campaigns launched by SOFTSWISS over the past year, including “Bringing the Heat,” “Make Your Business a Classic” and “Grab Success.”

SOFTSWISS acknowledged that it has tried to develop “creative and eye-catching” marketing campaigns in order to expand its business throughout the European continent but also in Latin America and Asia.

Not The First Award

Valentina Bagniya, Chief Marketing Officer at SOFTSWISS, declared herself “truly honored to stand among the industry’s best and brightest at the esteemed iGaming IDOL.” The SOFTSWISS executive added that the award represents “a testament to the collective passion and dedication” shown by the company’s team.

The SOFTSWISS Chief Marketing Officer also added that the award will further motivate the company to seek to understand what the customers need and then create “top-tier products” by putting their creativity to use.

SOFTSWISS has already secured two other awards for its marketing efforts this year: EGR Marketing and Innovation Awards and Best Marketing Campaign at EiGE Awards. The addition of the Brand IDOL of the Year award further recognizes the prowess of the company’s marketing campaigns.

A Powerful Company

SOFTSWISS was a pioneer in the iGaming industry as in 2013 it was the first supplier to launch a Bitcoin-optimized online casino solution. Since then the company has grown significantly, becoming a respected international provider of software solutions for managing gambling operations.

The company now has a team of over 1,700 employees which are working in offices located in Malta, Poland, Georgia, Bulgaria and Belarus. The supplier has gained several gaming licenses and provides complete iGaming software solutions.

The product portfolio currently offered by SOFTSWISS includes the Online Casino Platform, the Game Aggregator which comprises thousands of online casino games, the affiliate platform named “Affilka”, the turnkey Sportsbook Platform and the Jackpot Aggregator.

Source: “SOFTSWISS Becomes iGaming Brand IDOL 2023“. SOFTSWISS. December 1, 2023.

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An ambitious project with a price tag of nearly $400 million is expected to revitalize North Las Vegas. The project is planned to use the land that was formerly the home of Station Casinos’ Texas Station and Fiesta Rancho hotel casinos. The two properties, owned by the leading gaming and entertainment company were shut down back at the start of the pandemic early in 2020. The site of the former Fiesta Rancho and Texas Station is expected to be the new home of a mixed-use project that will feature residential units, hotel rooms and other amenities.

Agora Realty and Management, a leading real estate developer, confirmed its plans to invest in the area. Last week, the company announced via its website that it closed escrow on the 73-acre site located at Lake Mead Boulevard and Rancho Drive for approximately $59 million. “The demolished site where the Texas Station and Fiesta Rancho hotel-casinos once stood will soon see the beginning of a new development after the lot was sold Thursday,” explained Agora Realty and Management.

Ryan Lefton, Agora Realty and Management’s chief of operations, who was recently cited by the Las Vegas Review-Journal, revealed that the price tag of the new project is approximately $380 million. As a three-phased project, the construction is expected to start early next year. Based on current estimations, the project is expected to be finalized by the end of 2025.

The Site Would Offer Residential and Hotel Units, Additional Amenities

The project called, Hylo Park, gained traction earlier this year after the company submitted a request for rezoning the land from a resort commercial to a mixed-use with the North Las Vegas Planning Commission. The request, submitted early in July, was greenlighted in August following a unanimous voting of the Commission.

Speaking on the topic, Lefton said: “Through this acquisition, we are thrilled to expand our footprint in the vibrant city of North Las Vegas.” Moreover, he pointed out: “We eagerly anticipate contributing to the community and fostering growth and opportunities in this dynamic landscape.”

The project is expected to offer more than 660 residential units, along with a childcare center, shops and recreational and entertainment areas outdoors. Additionally, Agora Realty and Management’s project is expected to offer 150 hotel rooms, different retail and food and beverage outlets. The mixed-use project is also planned to offer two ice rinks.

Ultimately, the project is expected to play a vital role in the revitalization of North Las Vegas by creating new jobs and economic stimulus for the region.

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In 2022, the Menominee Tribe in Wisconsin announced it joined forces with Hard Rock International for a new project that seeks to develop a new gaming and entertainment location in the city of Kenosha. The project has a price tag of $350 million and is expected to use some 60 acres of land located west of Interstate 94. The new gaming and entertainment resort is expected to boost tourism, local businesses and bring tax revenue for the state and the city. Additionally, the project, if approved, is expected to create new workplaces.

Last week, the Kenosha City Council voted in favor of giving the casino project final consideration for an agreement. An overwhelming majority of 12 members voted in favor of the final consideration while only three members voted against it, a report released by Kenosha News reveals. After this approval, the subject will be once again up for consideration at a meeting scheduled for November 20, 2023.

During the recent voting on Thursday, Hard Rock International’s regional president, Matt Schuffert, revealed that the project is expected to create 1,000 new full-time workplaces, offering an average hourly pay of $20. He predicted that the new casino and entertainment resort would generate annual revenues between $250 million and $295 million. Schuffert added: “The intergovernmental agreement calls for a total of about 5% of the net gaming revenue to go back to the city and the county,” explaining that annual revenue is expected to be in the ballpark of $12 million to $15 million.

Besides tax revenue, the new casino project is expected to bring benefits in the form of additional payments. Such payments are expected to provide vital funding for different state initiatives, helping public schools, museums and first responders.

Not Everyone Agrees with the Proposed Casino Project

At the recent meeting, Council members Kelly MacKay, Holly Kangas and David Mau voted against the proposed casino project. Citing witnessing the negative impact of gambling addiction, MacKay said he couldn’t cast a vote supporting the new casino and entertainment location planned to be developed on the west side of the city of Kenosha.

He was joined by more than two dozen people who also voiced their concerns during the recent public hearing. Many of the people who rejected the proposed casino project warned about crimes related to gambling. Notably, most of the people were concerned about the possible increase in addictions that can impact local communities.

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The ambitious Las Vegas Sands casino and hotel project in Nassau County received temporary permission to move forward as the Appellate Court issued a stay on a recent ruling that annulled the county’s approval of the venture. A later hearing will decide the project’s fate and will be instrumental in determining its viability.

Rising Public Concerns Culminated in Legal Action

Sands Nassau County’s legal setback arose from a lawsuit filed by Hofstra University, located adjacent to the proposed $4 billion casino property. The university argued that planning officials and lawmakers failed to provide sufficient notice for public meetings and environmental reviews before approving a 99-year lease for the Sands project.

A 9 November court decision voided the existing lease and mandated that Nassau County planning officials restart the application process, including new hearings with the county legislature. The ruling represented a significant victory for Hofstra University as it expressed eagerness to contribute to the planning and protect the community from potential environmental risks.

Critics of the casino project have raised concerns about potential negative impacts on the local community, including increased traffic and crime, decreased property values, and disruptions to nearby neighborhoods. Hofstra University initiated the lawsuit in April, citing concerns about inadequate public engagement and environmental assessments, mirroring other controversial New York casino projects.

Casino Projects Remain a Contentious Issue

The potential significant delays forced Las Vegas Sands to act quickly and turn to the New York Court of Appeals. The appellate judge granted a stay and scheduled a hearing for 21 November in Brooklyn. Hofstra representatives must present compelling reasons why the lower court’s order should remain in place while Las Vegas Sands defends the project.

County Executive Bruce Blakeman, an avid supporter of the Sands Nassau project, was optimistic, noting that a definitive court ruling would clear all doubts about the development’s legal status. He reaffirmed that the casino resort would bolster the local economy with well-paying permanent employment and tax relief for residents.

We are grateful that the Appellate Division granted a stay of the lower court’s decision, and we’re confident the lower court’s ruling will be overturned.

Bruce Blakeman, Nassau County, New York County Executive

The fate of the Sands Nassau County project now hinges on the upcoming hearing, as stakeholders on both sides prepare to present their arguments regarding the proposed casino’s impact on the local community and the procedural aspects of the approval process. The increased scrutiny should help ensure that casino developments remain socially responsible and can mitigate gambling’s negative societal impact.

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The leading provider of live casino content and technologies, Stakelogic Live, announced it signed a new partnership agreement with 777.nl, the popular Dutch operator. Details regarding the new partnership emerged Thursday and see the operator become the newest addition to Stakelogic Live’s Chroma Key Studio initiative. Under the terms of the freshly minted agreement, 777.nl will benefit from the Chroma Key Studio’s groundbreaking technology.

Stakelogic Live’s Chroma Key Studio is located in the Netherlands and streams in Dutch. The innovative Studio improves significantly the experience for online players as it revolutionizes online interactions. Thanks to the new deal, 777.nl will benefit from this technology and deliver unique live experiences for its growing customer base.

Ultimately, the collaboration is expected to propel the operator’s presence in the vertical, by delivering one-of-a-kind experiences for its players. At the same time, the agreement boosts Stakelogic Live’s strong position as a leading provider of live casino technology, proven to increase engagement and retention.

The Chroma Key Studio enables seamless integration of branding. Initially, 777.nl will benefit from several games, including 7 Seat Blackjack and European Roulette. Moreover, the operator will bring Absolute Blackjack, Stakelogic Live’s latest addition. What makes Absolute Blackjack a strong addition is the ability to offer an unlimited number of seats for players via a single table. This reaffirms the scalability and potential of Stakelogic’s innovative technology.

Recently, the company confirmed another deal for its Chroma Key Studio by teaming up with Bingoal.nl, another popular gambling operator within the Dutch market. Announced earlier this month, the deal saw the operator benefit from Stakelogic’s new studio. This deal designated Bingoal.nl as the first Dutch operator to access the Chroma Key Studio.

The New Deal Brings Excitement to 777.nl, Stakelogic Live

Cesar Paredes, 777.nl’s country manager, spoke about the significant potential of the live casino segment in the country and the unique experiences it delivers. “This is why we are very pleased and proud of this partnership with Stakelogic Live’s Chroma Key studio,” he added. Finally, Paredes confirmed that the company is committed to engaging with its players and delivering thrilling experiences which will now be elevated further thanks to the new live casino content.

“Welcoming 777.nl to our expanding Chroma Key Studio lineup is a significant milestone for Stakelogic Live.“

Olga Bajela, CCO at Stakelogic Live

Olga Bajela, Stakelogic Live’s CCO, added that the company is delighted to expand its portfolio of partners via the new collaboration with 777.nl. She highlighted the importance of the studio’s customization options that elevate the thrill and excitement while allowing operators to showcase their brands.

Bajela said that Chroma Key Studio stands out with scalability which reaffirms its position within the online gambling sector. Finally, she pointed out that Stakelogic will be delighted to see 777.nl deliver new experiences for its customers thanks to the new deal.

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The 80% is more specifically 81.4% and represents the sum of €1.58bn even with the company’s[ UK results falling nearly 2% to €1.01bn.

Explaining the rapid jump in numbers, a company statement read: “In Q1 2023, we completed the acquisitions of Camelot UK, the current operator of the UK National Lottery, and Camelot LS Group, the current operator of the Illinois Lottery under a private management agreement. These acquisitions have a significant impact on consolidated metrics of the Group and comparability with previous periods.”

Most Markets Up

Most markets were up for the provider with Italy falling a scant 0.6% while Greece and Cyprus together saw a 14.6% increase to €552.9m, Austria contributing €388.4m, (+19.3%) and home base the Czech Republic producing €125.4m, an increase of 17.2%.

Allwyn CEO, Robert Chvatal commented: “I am pleased to report that Allwyn had a strong start to the year, reflecting our ongoing focus on driving organic growth as well as continued progress in our inorganic growth strategy, with the results of the first quarter including the contribution from a total of seven lottery markets. Meanwhile, we have remained focused on our responsibilities to all our stakeholders and on safer gaming.”

The chief summed up the massive growth in revenues by explaining that 17% came from pre-existing geographic markets as well as first-time contributions from the UK market. The Camelot purchase included not only Camelot UK but also the Camelot LS Group. The latter operates the massive US Illinois lottery under a private management agreement there.

He explained how existing market success was further powered by digital channels as well as physical retail sales and the falling off of some Covid-19 impacts from last year that is no longer affecting current sales.

“We once again saw the resilience of demand for our products, even in an environment where consumer spending remains under pressure. We continued to deliver strong margins and generate robust free cash flow, reflecting our favorable cost structure and focus on cost and capital efficiency. The completion of two landmark acquisitions in the first quarter underscores our continued success in executing our inorganic growth strategy. The acquisition of Camelot UK, the current operator of the UK National Lottery, supports the successful delivery of the National Lottery through 2023 and over the next decade.“

Camelot LS was owned by the Ontario Teachers’ Pension Plan Board of Canada prior to Allwyn’s acquisition. In early December 2021, the Czech gambling group then known as Sazka Entertainment began to conduct business under the corporate identity of Allwyn for all of its properties assets when named as the “preferred bidder” for the fourth UK National Lottery license.

In a short time, the former Czech Republic-based company (now headquartered in Switzerland) has been operating in new markets globally it has included the US through the Illinois lottery, its first foray into the US lottery landscape once wholly dominated by Scientific Games and GTECH/Lottomatica (now IGT via acquisition).

Chvatal explained the importance of expanding lottery operations into such markets: “<Camelot LS Group provides> interesting strategic optionality through its in-house iLottery technology.”

In financial dealings, he noted: “The continued strength of our financial performance supported our successful financing activities after the end of the quarter, with Allwyn issuing €665m and $700m long-dated bonds in a single transaction. This financing represented our first US-dollar bond issuance, further diversifying our sources of funding, as well as significantly extending our debt maturities and further simplifying our capital structure.”

In closing, Chvatal said he was very pleased with the start to 2023 and said it placed the company well for continued success throughout the rest of the year as well as for “the next chapters of our growth story.”

Source: Allwyn Entertainment reports 80 per cent jump in revenues with addition of Camelot G3 NewsWire, June 15, 2023

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The repeal of the Professional and Amateur Sports Protection (PASPA) dating to May 2018 marked the start of sports betting expansion in the United States. That expansion has been rapid as lawmakers in different states identified the benefits legal sports wagering can bring such as tax revenue, support for local teams and reduction of illegal offering. Five years into the expansion of betting, now, more than 30 US states offer the activity, while few are in the process of legalization.

North Carolina would be one of the latecomers into the mobile sports betting vertical, although it won’t be the last state to introduce such activities. This legislative season, a proposal has been gaining traction in the Tar Heel state, planning to introduce mobile sports betting and expand retail activities at the start of the new year. Only recently, the North Carolina state Senate passed the proposal, calling for the legalization of betting on horse racing, professional, college and other sports.

Now, legalization has never been closer, given that the state’s General Assembly greenlighted the proposal Wednesday. In a 68-45 vote, the bill successfully cleared the House. This pushed the proposal further to its final destination, as it will now require the signature of North Carolina Gov. Roy Cooper. Once Cooper signs the bill into law, North Carolina will set a date for the expansion of its sports betting market.

Mobile Betting Expected Early in 2024

The bill would significantly expand sports betting in the state, which is currently limited to only three land-based casinos run by Tribal operators. But under the bill, North Carolina would open up to mobile sports wagering and expand retail betting options.

Per the proposal, the state’s Lottery Commission would be in charge of licensing and will be able to award up to 12 mobile sports betting licenses. However, there’s a restriction implemented that requires eight of 12 licenses to be tied to retail sports wagering outlets. Still, this leaves four licenses for mobile betting operators that aren’t tied to a retail outlet.

Given the recent traction of the proposal, it is likely residents in North Carolina to have a chance to place legal mobile bets early in 2024. The bill’s effective date is January 8, 2024. Yet, under the proposal, the Lottery Commission can set a different date within 12 months of the bill becoming law. In other words, if everything goes as planned and Gov. Cooper signs the bill into law, residents in the state may be able to wager on sports legally before the next Super Bowl.

The legislation plans an 18% tax on gross gaming revenue for sports betting operators. Early estimations predict that for the first three years of the activity, some $100 million in tax revenue would be raked by bets that may exceed $6.6 billion. Similar to other states, North Carolina plans to use the tax revenue to support sports programs, fund gambling education and addiction programs, as well as other programs.

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