Business
October 11, 2023
Caesars Entertainment Shares Dip, but Maintains Its Potential
Caesars Entertainment, a leading player in the gaming industry, has seen a 14.37% decline in its shares over the past month, primarily due to recent cybersecurity challenges and concerns about economic headwinds. However, following meetings with Caesars executives at the Global Gaming Expo (G2E) in Las Vegas, Stifel analyst Steven Wieczynski published a report reiterating […]
Industry
October 10, 2023
NJ Online Casinos Remain the Biggest Gambling Tax Contributor
The rise of online gambling in New Jersey continues, as demonstrated by the recent revenue results. The vertical continues to be a major tax contributor and, according to a PlayNJ report, has surpassed the taxes produced by the nine Atlantic City casinos for the last three years. For example, data from the NJ Division of […]
Business
October 6, 2023
MGM Resorts Cybersecurity Issue to Impact Q3 2023 Earnings
MGM Resorts International has revealed that the recent cybersecurity incident, which caused widespread disruptions across its North American operations, will have significant repercussions beyond damage to its reputation. The attack caused chaos and confusion among clients, with an upcoming lawsuit already in the works. Data breaches further exacerbated the issue, giving the hackers access to […]
Business
October 6, 2023
News Corp Divests Stake in Betr, Says Report
The up-and-coming betting start-up, Betr, launched its services last October with a groundbreaking promotional campaign. At the time, the company sought to establish a strong presence in the regulated gambling sector in Australia, while at the same time engaging and retaining a large customer base rapidly. Several months after its launch, Betr was hit with […]
Business
October 5, 2023
NagaCorp’s Financial Confidence Rises with Improved VIP Gaming
Prominent Hong Kong-listed casino operator NagaCorp remained confident it would fulfill its financial commitments, particularly as it approaches the maturity date of its outstanding senior notes in July 2024. This optimism is underpinned by the company’s bolstered cash reserves, significantly enhanced due to the stellar performance of its flagship property, the Cambodian integrated resort NagaWorld. […]
Industry
October 3, 2023
Kansas Bettors Wagered $1.85B in the First Year of Sports Betting
Last year, Kansas launched its sports betting market, allowing operators to partner with local entities to set up shop in the state. A year later, the state reported that its betting industry had earned $7 million in state revenue. According to Matt Schwartz, Kansas Lottery’s finance director, Bettors have wagered a total of $1.85 billion […]
Industry
October 2, 2023
Macau Reports Impressive Gaming Revenue Increase for September
The gambling province of Macau has reported an extraordinary surge in gaming revenue for September 2023, showcasing its resilience and rapid recovery. Although the MOP 14.9 billion ($1.85 billion) falls below August’s results, this remarkable recovery indicates a positive trend amidst the challenges of the COVID-19 pandemic and changing government policies. Most Metrics Recorded Substantial […]
Business
September 28, 2023
888 Holdings Cautions Investors as Q3 Performance Falls Below Expectations
Leading betting and gaming group 888 Holdings has issued a cautionary statement to its investors, indicating that its Q3 performance may fail to reach initial expectations. The London Stock Exchange (LSE)-listed company remained optimistic that this downturn would remain temporary, expecting a swift recovery in 2024. This announcement closely mirrors that of Entain, signaling a […]
Industry
September 28, 2023
Curaçao Finance Minister Emphasizes Benefits of New Gambling Legislation
Silvania discussed the National Ordinance for Games of Chance (LOK) which is set to usher in significant changes in Curaçao’s gambling landscape. Finance Minister Silvania Highlights LOK as Curaçao’s Shield Against Grey-Listing Threat Minister of Finance Javier Silvania stressed the importance of the LOK, highlighting its role as a “safety net” to protect Curaçao from […]
Business
September 25, 2023
Entain Hit by Regulatory Headwinds, Prepares for Slower Online Growth
The global gaming, sports betting and interactive entertainment company, Entain, released a new report Monday, providing an update on its current trading as well as FY 2023 guidance. The recent report included details regarding strategic actions that seek to drive shareholder value and accelerate its operational performance. Focusing on current trading, Entain said that has […]
