A large number of police officers and vehicles gathered at the Borgata Hotel Casino & Spa Thursday afternoon after an anonymous threat. Just before 4 PM, the Atlantic City Police Department (ACPD) received a call from an anonymous male who claimed to be a guest at the luxury hotel and casino and was in possession of an explosives and guns.

The call resulted in the immediate dispatch of law enforcement to the Borgata where nearly two dozen police cruisers gathered. As announced by BreakingAC, the hotel and casino were also visited by the AC Bomb Squad.

Law enforcement blocked roads close to the property, diverting traffic. Moreover, the hotel and casino’s entrances were blocked by police officers while a sweep of the property was conducted.

A statement released by the ACPD revealed that an investigation into the threat is ongoing. In the afternoon, law enforcement said that there is no active shooter on site.

“The Atlantic City Police Department is currently on scene at the Borgata Hotel Casino & Spa conducting an active investigation. There is NO active shooter,“

reads a statement released by the ACPD

No Suspicious Individuals or Explosives Found

Local media reports revealed that some of the guests weren’t allowed to go back into the Borgata. Others didn’t even know that there was a threat. Still, guests were evacuated from some parts of the casino resort.

After an extensive search of the property by Borgata security in collaboration with law enforcement, the ACPD released an update, outlining that no suspicious individuals have been identified neither explosives or firearms were uncovered.

Patrol officers responded to the scene, and along with Borgata Security, conducted a sweep of the building during which no suspicious individuals or devices were located.

reads an update released by the ACPD

Law enforcement confirmed that parts of the property were temporarily evacuated but guests were later on allowed to return. The ACPD said that it will investigate the validity of the threat and encouraged everyone with information regarding the case to reach out.

So far there’s no confirmation about anyone being arrested in relation to the reported threat.

Users online speculated that a person was barricaded into one of the hotel rooms. However, neither law enforcement nor the Borgata confirmed those rumors.

The post Reported Threat at the Borgata Results in Increased Police Presence appeared first on Keno Wizard.

Soft2Bet was able to notch up a 46% year-over-year growth in group revenue for its full financial year 2023, spurred by the arrival of the Motivation Engineering Gamification Application gamification product.

Gamification Takes the Biscuit for Soft2Bet in 2023

Both the company’s B2B and B2C results stood tall during the surveyed period, with financial results marking record gains for the group as a whole, and even prompting Soft2Bet to adjust KPIs to reflect the strong growth period.

Another milestone to appear on the financial books was the 207% rise in company EBITDA compared to the previous period in 2022. MEGA alone accounted for a 60% contribution to gross gaming revenue and has been a clear winner for the company from the very start, but the product has been similarly good for Soft2Bet’s partners.

The success of the MEGA product was hailed by company CEO Uri Poliavich who said that his company is poised to continue to deliver on this and better results throughout 2024. “We are already developing partnerships with new and old friends, expanding into North America, and delivering more game-changing solutions for our partners this year,” Poliavich explained, setting the objectives for the new year.

According to the company’s financial report, partners similarly reported a 70% jump in average revenue per player, giving them a strong incentive to continue collaborating with Soft2Bet and helping the company step into 2024 on a much stronger foothold.

In light of those results, Soft2Bet will continue to seek to improve and expand on its MEGA product which has proven a raging success both commercially and privately. Yet, Soft2Bet wants to further enhance the core platform and help it secure even stronger positions.

Leveraging Technology, Pushing into New Markets

One of the ideas Soft2Bet is naturally exploring is the further integration of Artificial Intelligence and other technological solutions into the solution’s bedrock.

Although iGaming took the biscuit for the company, it similarly recorded gains in sports betting supply operations, with the company successfully reaping bounty in Italy, Romania, Greece, and Sweden among others. Sports betting operations jumped by 300% for the company.

All the while, the company is preparing for a more serious push into the North American market, especially now that close to 40 states regulate sports betting and iGaming has just become legal in Rhode Island. Yet, the company is preparing to push further, including in places such as Ontario, Canada, and Mexico.

The post Soft2Bet FY 2023 Results Driven by Expansion and Gamification appeared first on Keno Wizard.

The leading North American sports betting and iGaming operator, DraftKings, released its latest financial report. On Thursday, the company disclosed details regarding its performance for the fourth quarter and fiscal year 2023, highlighting a significant increase in revenue.

DraftKings’ latest unaudited report reveals that its revenue for 2023 hit $3.67 billion. This result, compared to the $2.24 billion figure posted for the fiscal 2022 shows an increase of nearly 64% year-over-year.

Besides year-over-year, the company posted exceptional results during the fourth quarter as well. In Q4 2023, DraftKings’ revenue soared to $1.23 billion. A comparison to the $855 million reported for the same period in 2022 shows an increase of $376 million or 44%.

The company explained that the result comes after a “continued healthy customer engagement, efficient acquisition of new customers, the expansion of the Company’s Sportsbook product offering into new jurisdictions, and product innovation leading to increased parlay mix and thus higher structural sportsbook hold percentage.”

The fourth quarter marked an uptick in the number of monthly unique players (MUPs). The latest trading update reveals that DraftKings’ MUPs in Q4 increased by 37% year-over-year to 3.5 million. DraftKings said that this uptick highlights strong customer retention and acquisition rates for its iGaming and sportsbook products. Moreover, the company acknowledged that its expansion into new jurisdictions positively impacted the number of MUPs.

The Company Ends 2023 with Excellent Results

Jason Park, DraftKings’ chief financial officer, revealed that the latest results underline the company’s ongoing commitment to implementing operating efficiencies and delivering strong revenue growth. In light of the exceptional performance for the fourth quarter and the first six weeks of 2024, he confirmed that the company updated its revenue guidance.

Park explained: “We are raising the midpoint of our fiscal year 2024 revenue guidance range to $4.775 billion from $4.65 billion and the midpoint of our fiscal year 2024 Adjusted EBITDA guidance range to $460 million from $400 million.” Finally, the chief financial officer said DraftKings anticipates 2024 will be its first full year of positive adjusted EBITDA.

“DraftKings ended 2023 with excellent performance across customer acquisition, retention and engagement as well as structural sportsbook hold percentage despite the worst stretch of sport outcomes we have seen as a public company in the fourth quarter.“

Jason Robins, CEO at DraftKings

Jason Robins, DraftKings’ CEO, also highlighted the strong results posted by the company for the last quarter of 2023. He said that despite challenges related to the outcome of sports events, DraftKings demonstrated strong customer engagement and retention. Focusing on 2024, Robins predicted that the company would keep the focus on its customers while growing the reach of its products and delivering supreme services.

The post DraftKings Posts Exceptional Q4 Results, Updates 2024 Guidance appeared first on Keno Wizard.

The results posted by Detroit’s three casinos in January marked one of the worst figures for the last decade, with the exception of the period during the pandemic. Data released by the gambling regulator in Michigan, the Michigan Gaming Control Board (MGCB), reveals that the total casino gaming revenue reported by the city’s three casinos last month halted at $93.9 million.

Month-over-month comparison to December 2023 when the revenue hit $111.4 million shows that in January, the casino revenue plummeted by 15.7%. Not unexpectedly, a year-over-year (YoY) comparison also showed a drastic decrease. In January 2023, the revenue reported by Detroit’s three casinos hit $103.4 million. This otherwise means that the revenue last month decreased by more than $10 million year-over-year.

Last month, Michigan collected $7.6 million in taxes based on the revenue reported by the three casinos in Detroit. Compared to December, taxes were approximately $1.4 million less, considering that back then, the tax revenue hit $9 million. Similarly, year-over-year, the tax revenue decreased, considering that in January 2023, it hit $8.4 million.

All Three Casinos Report a YoY Revenue Decrease

A breakdown of the total revenue showed a decrease month-over-month for all three Detroit casinos. The highest share of the revenue in January was reported by MGM Grand, a total of $44.6 million. This result translated to $3.6 million in taxes.

Comparison to December shows that the revenue was down by more than $5 million, considering that MGM Grand reported $50.6 million at the time. Similarly, the venue posted a decrease in its revenue year-over-year when compared to the January 2023 result of $50.2 million.

The second-highest revenue was reported by Motorcity Casino. In total, the casino reported $27.1 million in casino revenue, raising $2.2 million in state tax. While the tax revenue was roughly on par when compared to the $2.8 million result from December, the revenue took a hit. In December 2023, Motorcity Casino posted $34.7 million in total revenue, a result that was nearly $8 million more than the January figure.

In line with previous months, Greektown Casino posted the lowest revenue. The brick-and-mortar venue reported $22.2 million in casino revenue for January. The result marked a decrease when compared to the $26.1 million figure from December but was relatively in the same ballpark when compared to the $22.9 million in revenue posted in January last year. The reported tax last month by Greektown Casino was $1.8 million.

The post Casinos in Detroit Post Disappointing Results for January appeared first on Keno Wizard.

Catena Media released its latest financial report, uncovering details regarding its performance for the fourth quarter and full year 2023. Released Tuesday, the new report acknowledged “weak” quarter results amid an ongoing investment that seeks to propel future growth and profitability.

Details disclosed by Catena reveal that its Q4 2024 revenue from continuing operations took a hit, decreasing by 41% to €14.5 million ($15.5 million). Not unexpectedly, the company’s North American revenue plummeted as well, decreasing to €12.3 million ($13.2 million). This result marked a year-over-year decrease of 43% when compared to the €21.5 million ($23 million) reported in North American revenue for Q4 in 2022.

Similarly, adjusted EBITDA from continuing operations also took a hit between October and December 2023. Catena revealed that its adjusted EBITDA for the aforementioned period halted at €1.5 million ($1.6 million) a result representing an 88% decrease when compared to the corresponding period in 2022.

The number of new depositing customers (NDCs) for Q4 2023 decreased as well. NDCs in Q4 2022 were 56,040, a figure that decreased by 43% to 32,032 for Q4 last year.

When it comes to the yearly performance, the latest financial update also revealed decreasing results. Between January and December 2023, Catena’s revenue was down year-over-year by 22% to €76.7 million ($82.2 million). North American revenue halted at €67.1 million ($71.9 million), down by 21%, while adjusted EBITDA from continuing operations marked a 47% dip to €25.4 million ($27.2 million). NDCs posted a decrease year-over-year to 184,257 in 2023. In contrast, the 2022 result was nearly 20% higher.

The Company Anticipates Resumption of Organic Growth

Michael Daly, Catena’s CEO, commented on the topic explaining that the latest results were “disappointing,” adding that he isn’t satisfied with the recently released figures. Yet, he highlighted an ongoing plan the company initiated in 2023 that involved investments in both artificial intelligence (AI) and technology.

“Rapid technological developments and the emergence of artificial intelligence (AI) are reshaping the media industry. For the online sports betting and casino gaming sector, the changes will be huge. At Catena Media we are determined to be a leading force in this new landscape.“

Michael Daly, CEO at Catena Media

Daly said that Catena wants to become a disruptor in the sports betting and gaming sector by leveraging innovative technology that can help reshape the verticals. He revealed that the aforementioned investments have already accelerated.

Catena’s CEO predicted that those investments would help position the company well for future growth. Daly predicted that the company would return to a long-term growth trajectory with the resumption of organic growth, expected around the second half of this year. Moreover, he said Catena expects to generate full year adjusted EBITDA in 2024 within the range of €20 million ($21.4 million) to €30 million ($32.2 million).

The post Catena Posts Weak Q4 Results, Reports Decrease in Revenue for 2023 appeared first on Keno Wizard.

Boyd Gaming, the leading online and land-based gambling operator with a strong US presence, released its financial results for the fourth quarter and full year ended December 31, 2023, pointing to strong growth in revenue. The latest unaudited report emerged Thursday and saw the company report $954.4 million in total revenues for Q4 2023. Compared to the $922.9 million result for the corresponding period in 2022, the latest result shows an increase of more than 3%.

The latest trading update reveals that Boyd Gaming posted $92.6 million in net income for the fourth quarter, representing $0.94 per share, a slight dip when compared to the Q4 2022 result of $172.7 million in net income or $1.63 per share. The total adjusted EBITDAR reported by the company for the fourth quarter of 2023 was $355.5 million, while adjusted earnings were $163.8 million.

A breakdown provided by Boyd Gaming revealed that its gaming and online segments were responsible for the lion’s share of the revenue in the fourth quarter. The total gaming revenue reported by the company in Q4 2023 hit $647.1 million, a result that was slightly below the $653.9 million figure from Q4 2022.

Yet, Boyd Gaming’s revenue from the online segment hit $124.1 million, up by $34 million when compared to the $89.7 million in online revenue reported for the corresponding period the prior year. The company explained that its online segment was positively impacted by the introduction of sports betting in Ohio dating back to January 2023.

In Q4 2023, Boyd Gaming posted food and beverage as well as room revenue of $75.5 million and $50.6 million respectively. Those results were on par with the Q2 2022 figures. Management fees and other revenues for the period were some $56 million.

Online Segment Boosts 2023 Total Revenue

When it comes to the 2023 results, Boyd Gaming also posted strong growth. According to the new report, the company’s total revenue hit $3.74 billion for 2023, a significant increase when compared to the $3.56 billion result for the prior year.

Not unexpectedly, gaming was responsible for the lion’s share of the revenue, a total of $2.61 billion, a result that was only slightly below the 2022 figure. However, the company’s online revenue for 2023 hit $422.2 million, completely surpassing the $254 million result from 2022.

“The fourth quarter’s strong performance was a fitting conclusion to another record year for our Company.“

Keith Smith, president and CEO of Boyd Gaming

Keith Smith, Boyd Gaming’s president and CEO, highlighted the strong performance of the company during the fourth quarter of 2023. He explained that the outstanding results are a testament to the diversification of the company’s portfolio in combination with strong investments and returns. “Our management teams continued to demonstrate their ability to efficiently manage the business, achieving property-level operating margins above 40% for both the fourth quarter and full year,” added Smith. Finally, he predicted further growth for Boyd Gaming on a global scale, efforts that are also expected to create long-term shareholder value.

The post Boyd Gaming Posts Stellar Q4 and Full Year 2023 Results appeared first on Keno Wizard.

The Rank Group released its latest interim results, uncovering details regarding its progress over the six months ended December 31, 2023. The company referred to the period as H1 2023/24, with results pointing to an increase in net gaming revenue (NGR) year-over-year. Besides financial data, Rank Group released details regarding its expectations for 2024 in key markets.

Focusing on the UK, John O’Reilly, the company’s chief executive, explained that the business is positioned well for further growth, boosted by the upcoming regulatory changes within the retail gambling sector in the country. The changes are expected to come into effect at some point this year, according to the company, possibly around the summer. “These reforms cannot come soon enough in enabling us to modernize our proposition to better meet our customers’ expectations,” added O’Reilly.

“We are well positioned to optimize the opportunities afforded by the UK Government’s planned land-based regulatory reforms which will hopefully be implemented through the passing of secondary legislation in the summer of 2024.“

John O’Reilly, chief executive of The Rank Group

Last year, the Gambling Act review white paper was released, outlining a number of suggestions that are expected to completely overhaul the gambling industry across the country. Among the proposed changes are the implementation of limits for online slots, changes in the ratio of B and C gambling devices, as well as implementation of affordability checks, among other improvements.

Yet, so far the government hasn’t set a deadline for the implementation of the changes, while consultations with stakeholders on certain topics are still ongoing. Ultimately, the review of the Gambling Act 2005 is expected to ensure that the laws in the country fit the digital age.

The Company Posts Strong Results Despite Challenges

When it comes to financial results, Rank Group posted £362.6 million ($460 million) in NGR for H1 2023/24. This figure, compared to the £338.9 million ($430 million) reported for the corresponding period a year ago, showed an increase of 7%. Additionally, Rank Group confirmed that its operating profit for the latest trading period was £16.2 million ($20.6 million).

“Whilst it remains a challenging economic environment, we are positive about the future and expect LFL operating profit for the year ending 30 June 2024 to be in line with our expectations,“

reads a statement released by The Rank Group

While the company acknowledged that the economic environment remains challenging, it was still optimistic about its future performance. Rank Group said that it anticipates its upcoming financial results for the year ending June 30, 2024, to coincide with its initial expectations.

The post Rank Group Enjoys Strong Results, Remains Optimistic about UK Growth appeared first on Keno Wizard.

Casino operators are often targeted by criminals who attempt to cheat or manipulate the games for their advantage. While some try to cheat, others engage in fraudulent activities such as using fake chips to play. Last year, a massive fraudulent scheme was uncovered in Macau with police authorities seizing nearly 1,000 fake chips. During the police operation, it was uncovered that close to 500 counterfeit casino chips were used at Galaxy Macau Casino.

Now, the Judiciary Police in Macau arrested individuals suspected of being involved in similar activities. Last week, law enforcement was notified by a casino in Cotai City that an inspection uncovered counterfeit casino chips. One of the casino dealers at the venue was conducting a routine check of the chips when they found inconsistencies related to 25 chips that appeared in the bead trays of two gaming tables at once.

This is when the casino uncovered that it was defrauded by a group of individuals who used fake chips. The casino, whose name was not released by the Judiciary Police, found out that the culprits transformed HK$100 ($13) chips into HK$10,000 ($1,300) chips. At least 33 counterfeit casino chips were discovered at the aforementioned casino, causing an estimated loss of HK$1.62 million ($200,000).

Police Arrests Suspects, Continues Investigations

It wasn’t long before suspects were detained in relation to the fraudulent activity. According to the Judiciary Police, four individuals allegedly involved in the activity were detained by the casino’s security guards. Still, the casino identified that more people were involved and notified law enforcement.

Another suspect, believed to be involved in the fraudulent activity was successfully tracked down and detained by the police. All of the detainees are mainland China residents. The five people who were arrested claimed that they acted upon directions given by a higher-ranking member of the criminal group.

Besides the five people arrested, police uncovered that more individuals involved in the fraudulent activity were at large. As a result, three other individuals, labeled as key members of the criminal group, were detained in mainland China through cooperation between the Guangdong Provincial Public Security Department and the Zhuhai Criminal Police Detachment.

Overall, eight people allegedly involved in the criminal activity were arrested. Law enforcement confirmed the investigation into the case continues.

The post Macau Casino Chip Scam Results in Arrest of Eight Suspects appeared first on Keno Wizard.

As sports betting continues to grow across the United States, more and more players across many states become involved in the hobby. This is strongly reflected in the increasing financial results posted by regulators across multiple jurisdictions. Oregon, for example, smashed its sports betting handle once again, posting a new all-time high figure.

For reference, bettors in The Beaver State wagered a total of $73.2 million on sports in December, surpassing the previous record of $71.9 million set in October last year. The figure is also 38.1% higher than the $53.8 million wagered in December 2022.

American football was the most popular sport in December and was singlehandedly responsible for almost a third of the total handle. For reference, football fans in Oregon wagered $23.1 million on football in December.

The second most popular sport was basketball, which attracted $16.5 million in wagers. Next up were soccer in ice hockey with $3.3 million and $2 million in wagers respectively.

Single bets remained overwhelmingly more popular, attracting $48.1 million in wagers. Parlay wagers, on the other hand, were responsible for $25.1 million of the total handle.

December was a record-breaking month for a number of other states as well, including Maryland. New Jersey and Massachusetts also posted strong results.

Oregon’s Revenue Smashed October’s Record

Oregon’s revenue results were also at their all-time high as DraftKings, the only legal sports betting operator in the state, posted revenue of $9.7 million. This figure represents a stellar 70.2% year-on-year increase and a 14.1% increase from October’s previous record of $8.5 million.

Sport by sport, the revenue metrics reflect the most popular sports in the state. Football was responsible for $3.5 million of the total revenue, followed by basketball at $2.9 million and football at approximately $606,000.

While single wagers were generally more popular, the revenue from parlay bets exceeded the revenue from singles. For reference, parlay bets generated $5.7 million in revenue, while single wagers brought in $4 million.

Last year, Oregon and DraftKings agreed to expand the number of available offerings, allowing fans in the state to wager on several more unusual disciplines. This included the Tour de France, Major League Baseball’s Home Run Derby, the American Cornhole League World Championship and, most notably, Nathan’s Hot Dog Eating Contest.

The post Oregon Posts Record-Breaking December Results appeared first on Keno Wizard.

A deadly shootout in Las Vegas has resulted in the deaths of two people. A third person is currently in a hospital, fighting for his life. A fourth victim was also wounded, although his injuries were described as non-threatening.

The shooting occurred near the Strat Hotel, Casino & SkyPod, at the end of the Vegas Strip. According to reports, the four men were arguing in the middle of West Chicago Avenue on Wednesday. The Las Vegas Metropolitan Police Department is still uncertain about what caused the quarrel. However, they say that the conflict escalated, causing at least two of the men to pull out their firearms and shoot.

The shooting was witnessed by many bystanders but, luckily, none of them were hurt in the shootout. However, the participants were not so lucky.

According to reports, one of the men passed away at the crime scene because of his wounds. The remaining three sustained wounds and were carried to Valley Hospital Medical Center where one of them died.

As of the time of this writing, one of the two survivors is fighting for his life. The remaining one should make a recovery, according to experts.

The Two Survivors Risk Charges

Detectives examined the scene of the shootout to determine how many shots were fired. The police also seized the shooters’ firearms as evidence.

Reports also say that the police spoke with the least wounded man, although they are yet to comment on the matter.

As of the time of this writing, no charges have been filed but it is possible that the two survivors will get charges because of their participation in the incident.

The four men’s identities are also yet to be announced. Experts are expected to conduct autopsies on the two dead men to confirm their identities and causes of death.

The post Vegas Shootout Results in Two Dead and Two Wounded appeared first on Keno Wizard.