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Business
July 31, 2024
Caesars Digital Shines with Record Q2 Revenue
Caesars Digital, the online sports betting and iCasino division of Caesars Entertainment, has been the bright spot in what was otherwise a tepid second quarter for the company. The digital segment reported a company record of $40 million in positive AEBITDA (adjusted earnings before interest, taxes, depreciation, and amortization), a significant leap from the $11 […]
Industry
July 31, 2024
Stake Acquires Idealbet, Branches Out into Italian Market
In a bid to boost its global expansion strategy, Stake has acquired Baldo Line s.r.l., the Italy-based sports betting and remote gaming operator behind the Idealbet brand. This acquisition, previously part of the Octavian Group, will bolster Stake’s presence across the Italian market as the company focuses on empowering players worldwide with top-notch entertainment. Combined […]
Business
July 31, 2024
WynnBet Exits New York, Downstate Casino Hopes Remain
WynnBet, one of the pioneers in the New York online sports betting market, will no longer be taking bets, heralding the coming of ESPN Bet to the Empire State. Wynn Is Winding Down Its Online Presence The Wynn-owned sportsbook stopped taking bets on Monday, putting an end to over two years of operation. New York […]
Blockchain
July 31, 2024
DraftKings to Shut Down NFT Marketplace and Reignmakers
American betting giant DraftKings had decided to shut down its non-fungible token (NFT) marketplace and cease the operation of its NFT-based fantasy sports game, Reignmakers. The decision comes amid legal challenges against NFTs’ status as investable securities. The End of an Era The ongoing challenges the NFT sector faces could have made DraftKings liable in […]
Lottery
July 30, 2024
Massachusetts Online Lottery Eyes Q4 2025 Launch
Massachusetts lawmakers first pondered the concept of an Internet lottery platform in 2012, but it faced significant resistance. Legislators have consistently opposed online gambling for the past 12 years. However, a recent legislative compromise has finally addressed these lingering concerns, leading to the long-expected legalization of iLottery in Massachusetts. iLottery Should Provide Significant Benefits Governor […]
Business
July 30, 2024
IGT Posts Strong Q2 Results as Gaming and Digital Sale Looms
International Game Technology (IGT) has published its Q2 report, highlighting strong financial results. Revenue remained mostly stable during the period, despite a few minor setbacks. IGT’s Financials Were Stable Revenue for the period stood at $1.05 billion, marking a 1% decline from Q2 2023. This comprised $436 million of Gaming and Digital revenue and $613 […]
Business
July 29, 2024
Bally’s Reaffirms Commitment to Las Vegas amid Ambitious Expansion Plans
Soo Kim, Bally’s chairman and co-founder of Standard General L.P., the company behind the recently announced acquisition, discussed the operator’s post-merger strategy. He noted that the future of casino gaming remains bright despite current market uncertainties. Kim remained adamant that the multibillion-dollar investment was a testament to Standard General’s confidence in the sector’s continued growth. […]
Business
July 29, 2024
BetMGM Posts Negative H1 EBITDA Amid Investment Year
Gaming and betting giant Entain has published a report concerning the BetMGM brand’s performance in the first half of 2024 (H1). Co-owned by Entain and MGM Resorts International, the operator recorded accelerating momentum through the year. Negative EBITDA Is in Line with Expectations The H1 update highlighted net revenue from operations of 1 billion, up […]
Business
July 29, 2024
LeoVegas Names Ex-MGA CEO Brincat as Regulatory Director
Carl Brincat, the former chief executive officer of the Malta Gaming Authority (MGA) has been onboarded by the LeoVegas Group. According to the announcement, LeoVegas will welcome the gambling regulation expert as its new director of policy and regulatory affairs. Brincat is set to step into the office in August. He will be based at […]
Business
July 26, 2024
Apollo Funds to Acquire IGT Gaming & Everi Holdings in Historic Deal
Apollo Funds, a newly formed holding subsidiary of Apollo Global Management, has set out to acquire International Game Technology’s IGT Gaming & Digital business and Everi Holdings in a historic arrangement. The transaction values the two companies at approximately $6.3 billion. This deal comes after an earlier agreement between IGT and Everi that saw the […]
