Each week, CasinoBeats breaks down the numbers behind some of the industry’s most interesting stories. Financial performances across New York and Illinois, a further Bally’s investment, OneComply seed funding round, and Dutch regulatory warning, all feature as we rundown a selection of last week’s headlines.
The Dutch gambling authority, Kansspelautoriteit, issued a reminder, as well as a warning, to online casino licence holders regarding the offer of autoplay functionalities.
This, the regulator said, followed an individual reporting that it was possible to play utilising such a method via online gambling machines of one unnamed operator. Offering forms of automatic play on gaming machines is prohibited within the region.
The report elaborated to say that a player could buy multiple ‘spins’ which were automatically played one after the other after starting. As long as there was still ‘spin credit’, a game was started again and again
Following receipt of the report, research was conducted by the Ksa which showed that this was indeed the case via at least three online gambling machines.
“A player must make a conscious choice for each subsequent game to continue playing,” a reminder issued by the regulator stated.
The Super Group is bullish on the effects of regulation in the Canadian province of Ontario, which it expects to grow in the medium to long term and affirmed it is coming at “with a significant head start over most of the competition”.
The parent company of digital gambling brand Betway and online casino Spin is currently continuing to operate in the region “with the knowledge of the regulator” while it progresses the licensing process.
In addition to lodging the relevant applications within the region, Neal Menashe, Chief Executive Officer of Super Group, asserted that it would not be altering its strategy in light of the recent regulatory moves made by Ontario.
This came after the Super Group disclosed its performance across 2021, which saw revenue increase 45 per cent to €1.32bn (2020: €908bn), with Betway accounting for €687,752 (2020: €394,525) and Spin adding €632,906 (2020: €513,494).
Profit for the year was €235.9m compared to €149.2m in the prior year, with EBITDA increasing 46 per cent to €314.5m from €215.8m one year earlier.
OneComply completed a seed funding round that was led by Warner Investments and boasted participation across the gaming industry from the likes of Katie Lever, Benjie Cherniak and Quintin Singleton.
The group noted that this financing round will enable OneComply to solidify its position in the provision of purpose-built licensing automation and compliance management solutions for the global gaming and sports betting market, including online and bricks and mortar operators, industry vendors, suppliers and service providers.
Furthermore, OneComply added that the past 12 month had “fueled incredible growth,” as it looks to maintain momentum through the remainder of the year and beyond.
Bally’s made a $5m investment in digital marketing promotions, rebates, and loyalty solutions provider Snipp Interactive in a bid to advance its omnichannel ambitions.
Under the terms of the purchase, the casino and entertainment operator will be entitled to nominate one director to a Snipp board of directors that is expected to be increased in size to five.
Following completion, the group is expected to own approximately nine per cent of the issued and outstanding common shares of Snipp. Furthermore, Bally’s will also be provided with a right of first refusal in respect to any offer to purchase all or substantially all of Snipp’s assets.
The pair will also enter into commercial agreements that will see the former become an exclusive gaming partner for its loyalty gaming platform, which was recently acquired in connection with the acquisition of Gambit Rewards.
A maiden opportunity to wager on the NCAA’s March Madness basketball tournament saw New York’s online sports betting space fall a fraction shy of its own monthly record.
The region’s online sportsbooks accepted $1.64bn in wagers in March, according to official data released by the New York State Gaming Commission.
That was up 7.2 per cent from the $1.53bn wagered in February at New York’s online sportsbooks, although it’s short of the $1.67bn US record that they accepted in January.
The digital ecosystem averaged $52.8m in bets per day, which was down slightly from the $54.6m in bets per day over the 28 days of February.
Sportsbooks won $114.3m in gross revenue from March’s bets, up 38.7 per cent from $82.4m in gross gaming revenue in February. Operators netted $56m in revenue and injected $58.3m into state coffers.
New York’s online sportsbooks have now generated $151.7m in tax revenue for the state, which is almost $30m more than Pennsylvania’s $122.5m in state and local taxes that the state’s sportsbooks generated in all of 2021, which was then a US best.
Online betting within Illinois accounted for $652.3m, or 96 per cent, of all wagers in February, with FanDuel and DraftKings remaining in a “neck and neck” race for market share.
According to PlayIllinois, FanDuel led all operators with $212.5m in online and retail wagering, including $211.3m in online wagering. In comparison, DraftKings produced $212.2m in combined online and retail handle, including $207.8m in online wagers.
These figures come in a month that witnessed the state’s sportsbooks slip to less than $700m, the lowest monthly handle since September.
Citing just one NFL game on the roster, analysts report that a post-Super Bowl “lull” was to be expected. However, it is emphasised that the seasonal slowdown “masks” impressive year-on-year gains in what was the last month of in-person registration requirements.