Mississippi gambling enthusiasts are out of luck as Republican representatives decided not to put forward a bill that would have allowed a casino in Jackson. According to them, the bill lacked sufficient support but that doesn’t mean things won’t change in the future.

Committee Chair Trey Lamar, who filed the bill Monday, explained that representatives of the Republican Party privately discussed the matter and concluded that the bill would not be able to gain enough votes. However, Lamar added that those who hope to see a casino in Jackson shouldn’t give up just yet.

For reference, Mississippi currently allows commercial casinos to only be constructed on the Gulf Coast or along the Mississippi River. Currently, there are 12 casinos on the Gulf Coast and 14 along the Mississippi River. In addition to commercial properties, there are also three tribal casinos operated by the Mississippi Band of Choctaw Indians across the state.

Lamar’s bill would have changed that, creating opportunities for investment in gaming right in the heart of the state. Under his bill, an existing licensed operator would have been allowed to construct and operate a casino in the Mississippi capital, only 1 mile away from the Capitol building.

A New Casino Would Disrupt the Power Balance

For reference, Mississippi’s House is currently dominated by the Republicans. However, the Democratic Party has a lot of members who are opposed to the opening of a casino in Jackson, citing economic concerns.

Rep. Robert Johnson, leader of the House Democrats, believes that a casino in Jackson would disrupt the power balance, hurting Mississippi River casinos. This sentiment was echoed by Democratic Rep. Oscar Denton and Republican Rep. Kevin Ford, who said that their city of Vicksburg would likely get the worst of it.

Vicksburg, for reference, houses the nearest casino to Jackson.

Johnson explained that coastal casinos will likely adapt but “there is no way anybody else could survive” the opening of a casino in the Mississippi capital.

Speaking of coastal casinos, Mississippi’s Senate recently approved the Tidelands Bill, which came as a response to the controversial approval of RW Development’s casino in Biloxi. The measure, however, raised concerns among coastal leaders and the future of local casinos.

The post Mississippi Reps to Kill Jackson Casino Bill Amid Weak Support 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.

Yggdrasil, a leading publisher of online casino games, has launched a demonic new game with the fearsome title Devour the Weak. The new release is centered on demons from hell that cast hexes to multiply the players’ winnings.

Devour the Weak Metrics

• Reels: 5
• Rows: 3
• Paylines: 243
• RTP: 96.0% | 94.0% | 90.5% | 86.0%
• Hit Freq: 25.03%
• Max Win: 10,000x
• Volatility: High
• Min/Max Bet: 0.10/100

Embark on a Journey to Hell

Yggdrasil’s new game is a 5×3 slot with many innovative mechanics. Players will collect symbols representing letters and demons to increase their multiplier and trigger free spins.

What makes Devour the Weak so special is that every time the reels land on a payline, all winning symbols will be destroyed, along with all symbols of equal or lesser value – thus the game’s name. The destroyed symbols will be replaced with new ones, allowing players to score multiple wins per spin.

The destroyable symbols are not the only exclusive mechanic about the game though, as each time players destroy six symbols, their multiplier will increase. However, the multiplier resets each time players start a new spin.

In addition, players will quickly notice that all symbols have a circular shape in their upper part. In some cases, this circle will be glowing in pink, which signifies the so-called hexed symbols. While hexes are usually something bad, Devour the Weak players want to land on as many hexes as possible.

Once destroyed, hexed symbols will turn into wild symbols, making it easier to score additional winning combinations. Furthermore, each time players score a winning combination, a demonic hand on the right will suck in the hex. Once the meter reaches 6, players will earn 10 free spins. Each additional hex during the cascade round will provide an additional free spin.

Players can select the Golden Bet option, which taxes them at 1.5x their normal bet but allows them to start each round with 1/6 hexes needed to initiate free spins mode.

Players Can Earn Demonic Prizes with Free Spins

During free spins mode, players will start at a 6x multiplier that can potentially reach 666x if enough paylines are chained. If a hexed symbol lands in the middle three reels, it will automatically transform into wild symbols, making it easier to score winning combinations.

Players can also land on a special symbol that will award them one additional free spin.

If players don’t like waiting, they can buy free spins (in markets where this is permitted). Players can buy free spins for 100x the bet and start at a 7x multiplier, or if they are feeling lucky, they can pay 666x their bet to start with a 33x multiplier.

Stuart McCarthy, Yggdrasil’s head of product & programs, commented on the new slot:

This exciting new slot isn’t for the faint of heart, with a great theme featuring demonic characters that are beautifully crafted for an immersive experience. We can’t wait to see players devour low-paying symbols and start racking up impressive wins via hexed icons, win multipliers and free spins.

Stuart McCarthy

In other news, Yggdrasil recently launched Shadow Raiders, a pirate-themed slot.

The post Yggdrasil Launches Devour the Weak, One Hell of a Slot appeared first on Keno Wizard.