UK horseracing Levy set to plummet £17m

first_img Email Address Subscribe to the iGaming newsletter UK horseracing Levy set to plummet £17m The Horseracing Betting Levy Board (HBLB) has warned that the Levy for the UK industry in 2018-19 is set to fall short of expectations by some distance, with forecasts placing the sum paid to the industry down by £17m (€9.4m/$21.7m) from the previous year.The Levy for the 12 months to March 31, 2019 has been estimated by the HBLB at £78m, down from £98m in 2017-18 – the first year of the Levy – and lower than the £89m forecast by the HBLB after the third quarter.According to the HBLB, end-of-year submissions from bookmakers showed both February and March of 2019 were “substantially less profitable than in 2018”, and the organisation has had to shift its expectations as a result.Should the Levy eventually total £78m, the HBLB would have incurred a budget deficit on expenditure of some £5m in 2018-19. The HBLB’s reserves would also be lower than expected – down from £50m to around £40m.As a result, the HBLB would be required to adjust its budget for 2019. This currently stands at £99m, but plans would have to be formulated to reduce this by £5m.“Bookmaker profits in the fourth quarter, particularly in February and March, were reported to be very substantially down on estimates,” HBLB chair, Paul Lee, said. “This has led to a material undershooting of Levy income against forecast, even taking into account that yield was not expected to reach the £95m of 2017-18.“This is only the second year of the extended Levy and the inherent uncertainty was recognised by the Board in 2017, which led to its policy of increasing reserves significantly over the past two years. The purpose of having these reserves is to be able to shield Racing against substantial fluctuation.”Lee noted that the variation in yield in the first two years of the extended Levy makes forecasting 2019-20 income more difficult, while the HBLB will also face challenges when setting its budget for the 2020 calendar year.“The Board will look to put in place additional reporting arrangements with major bookmakers, who are already helpfully providing significant data to the Board on a voluntary basis,” he said.The UK horseracing industry has moved quickly to address the news, with the Racecourse Association, The Horsemen’s Group and the British Horseracing Authority meeting earlier this week to discuss their plans.At the meeting, it was agreed that the three organisations will support the HBLB proposal to cut expenditure in 2019. As most of the HBLB’s spending is on prize money, it is likely that this area will be hit most by the move, and talks are now underway as to how to best implement the changes.A spokesman for racing’s tripartite leadership said: “We were shocked to see the big drop in Levy yield for 2018/19, which was significantly below the previous forecast at the end of March. We share the disappointment that our sport will feel having produced some highly competitive and compelling racing over the past year.“The bulk of the Levy income is distributed as prize money. At a time when there is already significant debate in the industry around levels of prize money, we appreciate that any potential reduction will cause further concern.“The recent positive reporting from the betting sector on the growing attraction of betting on our sport makes clear that the issue isn’t the popularity of racing as a betting product, but rather its potential profitability. As the Levy is based on those betting profits, that is clearly concerning for all in racing.”Image: Paul AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 17th May 2019 | By contenteditor Finance Topics: Finance Sports betting Strategy Horse racing Regions: UK & Ireland The Horseracing Betting Levy Board (HBLB) has warned that the Levy for the UK industry in 2018-19 is set to fall short of expectations by some distance, with forecasts placing the sum paid to the industry down by £17m (€9.4m/$21.7m) from the previous year. Tags: Race Track and Racinolast_img read more

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Evolution extends content deal with Scientific Games

first_img14th October 2019 | By contenteditor Casino & games Topics: Casino & games Tech & innovation Table games Subscribe to the iGaming newsletter Live dealer software supplier Evolution Gaming has extended its relationship with Scientific Games by adding its range of live casino solutions to the Open Gaming System (OGS) distribution network.Under the deal, Scientific Games will make the live casino products available to its licensees across a number of territories via its OGS content aggregation platform.The move follows successful integrated deployments by Evolution and Scientific Games with the British Columbia Lottery Corporation and LotoQuebec, both in Canada, as well as various integrations in New Jersey, US, such as with Resorts Casino Hotel and the Kindred Group.“We have worked with Scientific Games for a number of years on exclusive game content and we are glad to extend this relationship and have Evolution’s Live Casino available on the Scientific Games platform,” Evolution’s chief business development officer for America and land-based, James Stern, said.Dylan Slaney, senior vice president of casino at SG Digital, added: “We are delighted to add Evolution Live Casino games to our OpenGaming ecosystem, which includes our OGS content aggregation platform and is renowned worldwide for the quality and breadth of content it offers.“Evolution’s world-class Live Casino offering now adds even further choice for our licensees across multiple territories, including the US to provide their players with feature-rich multi-studio content and experiences.”Evolution and Scientific Games have been working together since early 2016 and, as a result of licensing agreements, offer gaming content to players around the world. Tags: Online Gamblingcenter_img Evolution extends content deal with Scientific Games Live dealer software supplier Evolution Gaming has extended its relationship with Scientific Games by adding its range of Live Casino solutions to the Open Gaming System (OGS) distribution network. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Addresslast_img read more

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iGaming Dashboard – November 2019

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 18th November 2019 | By Stephen Carter Topics: Casino & games Finance Lottery Sports betting Bingo Poker Subscribe to the iGaming newsletter Email Address H2 Gambling Capital and iGaming Business are pleased to bring you the November 2019 iGaming DashboardThe iGaming Dashboard is your monthly overview of the igaming sector in numbers and enables you to follow the evolution of the market to 2024.iGB’s principal data partner now also provides the pre-match vs. in-play split for global sports betting GGR.The graphs show how total global gambling gross win for igaming will evolve between now and 2024, while geographical breakdowns provide an overview of revenue levels for key regions around the world.The vertical breakdown shows how much different product segments generate.The term “white market” is used to describe taxed or fully legitimate markets, including the UK and any other market that is in transition.H2 Gambling Capital is the gambling industry’s leading consulting, market intelligence and data team. The company has a track record of 15 years focused on the global gambling industry, its projections have been influential in shaping legislators’  and investors’ views of the gambling sector across the globe.center_img Bingo H2 Gambling Capital and iGaming Business are pleased to bring you the November 2019 iGaming Dashboard iGaming Dashboard – November 2019 Tags: Card Rooms and Poker Online Gamblinglast_img read more

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Italy 2019: Market and operator performance

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Tags: Card Rooms and Poker Online Gambling Slot Machines Subscribe to the iGaming newsletter 31st January 2020 | By Stephen Carter Regions: Europe Southern Europe Italy The Italian igaming market grew by 13.3% to €1.73bn last year, as PokerStars and Bet365 retained their market share leads of the two dominant product verticals of casino and sports betting.More than €120m of the €203m expansion, which occurred despite the full force of the gambling advertising ban coming to bear on operators from July 2019, was accounted for by casino, with sports betting adding over €85m during the year. The 13% year-on-year uplift however represented a slowdown in growth rate compared to prior years, which saw the dot.it sector expand by +17% in 2018 and +31% in 2017. Casino saw its share of the remote market grow to 48% from 46.4% in 2018. The year also saw market leader PokerStars increase its share to 10.4% from 9.6%. Sisal overtook long-time second largest operator Lottomatica by holding its share firm at 8.1%, as Lottomatica saw its share recede to 7.9% from 8.5%.According to market share data processed and provided exclusively to iGB by Ficom Leisure, Bet365 retained its position at the head of the remote sports betting market with 15.7% of GGR, but both the Stoke-based operator and one-time leader PlanetWin365 saw saw their shares contract on the previous year as Snai, Eurobet and Sisal each made gains of more than a percentage point, with Playtech-owned Snai gaining 1.8%. Ficom Leisure’s Christian Tirabassi told iGB this week that pure online operators had been hit harder by the national ban on gambling advertising which came into full force in July of last year, reflecting the branding advantage enjoyed by their competitors also running retail businesses in Italy. In poker, PokerStars retained its commanding lead in both ring games and tournaments, but saw its tournament share sink back nearly three percentage points to 60.4%, in contrast to cash games where it increased its share by nearly two percentage points to 41.8%.The poker market as a whole however contracted from 2018, tournament revenue down 5.2% year-on-year to €77.66m.The bingo sector contined to rebound, albeit from a smaller base than the other main products, revenues from Italian-licensed operators up 21.4% year-on-year to €31.7m.  Scroll down for the full 2016-19 interactive dashboards, including operator market shares for 2018 and 2019 across casino, sports betting and poker. Ficom Leisure also provides monthly figures on the New Jersey online market in the New Jersey iGaming Dashboard and Pennsylvania in the Pennsylvania iGaming Dashboard, which are available on iGB North America. It also provides quarterly figures on the Spanish online market in the Spain iGaming Dashboard, on the Danish market in the Denmark iGaming Dashboard, and on the Portuguese market in the Portugal iGaming Dashboard. Italy 2019: Market and operator performance Topics: Casino & games Finance Sports betting Bingo Poker Slots Table games Bingo Email Address The Italian igaming market grew by 13.3% to €1.73bn last year, as PokerStars and Bet365 retained their market share leads of the two dominant verticals of casino and sports bettinglast_img read more

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Lyckost lands Swedish online gaming licence

first_img Tags: Online Gambling Email Address Online casino operator Lyckost has secured a licence to offer its igaming services in the regulated Swedish market. Issued by the Swedish Gaming Authority (Spelinspektionen), the licence covers online gaming in Sweden and is effective immediately. Lyckost will operate in the country via its Lyckost.se Swedish-facing website. The Spelinspektionen has now issued a total of 96 licences since Sweden opened its regulated online gambling market in January 2019. Last week, betting exchange operator Smarkets also secured a wagering licence in the country, allowing it to offer its services via Smarkets.com. In the 12 months to 31 December 2019, licensed operators in Sweden generated revenue of SEK24.8bn (£1.99bn/€2.28bn/$2.47bn). Online casino games and gambling on ships were the main source of income for licensees during the year, with revenue totalling SEK14.0bn, according to figures jointly published by the regulator and the Swedish Tax Agency. 21st April 2020 | By contenteditor Online casino operator Lyckost has secured a licence to offer its igaming services in the regulated Swedish market. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Casino & games Regions: Europe Nordics Sweden Lyckost lands Swedish online gaming licence Topics: Casino & games Legal & compliancelast_img read more

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Global Daily Fantasy Sports completes Playgon purchase

first_img Tags: Online Gambling AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Address Software supplier Global Daily Fantasy Sports has completed its acquisition of live dealer games supplier Playgon Interactive in a deal worth $9.5m. Software supplier Global Daily Fantasy Sports has completed its acquisition of live dealer games supplier Playgon Interactive in a deal worth $9.5m.Announced in December last year, the deal will see Global expand its footprint out of the daily fantasy sports sphere and into the live casino market.Guido Ganschow, the president, chief executive and principal shareholder of Playgon, will join the Global board as part of the acquisition agreement.“Live dealer is an exciting technology and I am thrilled to add this innovative next generation IP to our portfolio of digital content we can take to the market,” Global chief executive Darcy Krogh said.“In my opinion, this is the best-suited technology that compliments the land-based gaming industry’s transition to digital. Guido and his team have built a fabulous mobile product that is scalable and versatile in its application to pursue opportunity in both the real money and social gaming verticals.”Read the full story on iGB North America. 22nd June 2020 | By contenteditorcenter_img Topics: Casino & games Strategy Casino & games Subscribe to the iGaming newsletter Global Daily Fantasy Sports completes Playgon purchaselast_img read more

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AGA report: Michigan casinos worth $6.3bn annually to state

first_img Subscribe to the iGaming newsletter Michigan’s 27 combined commercial and tribal casinos have an annual economic impact of $6.3bn for the state, according to a new report from the American Gaming Association (AGA). Email Address Michigan’s 27 combined commercial and tribal casinos have an annual economic impact of $6.3bn for the state, according to a new report from the American Gaming Association (AGA).The venues also provide 37,911 jobs, paying annual wages of $2.1bn, as well as generating $1.3bn in state and local taxes, the report, launched as Detroit’s three commercial casinos prepare reopen following the novel coronavirus (Covid-19) lockdown.“The report shows how critical casino gaming is to Michigan’s economy, and consequently, how important gaming will be to the state’s economic resurgence,” the AGA said.The AGA added that the closure of Michigan casinos from March until 5 August “deprived statewide and local governments $114.1m in gaming tax revenue”. Of this sum, $46.7m would have been earmarked for statewide education and $67.8m for local initiatives in Detroit.Read more on iGB North America. Casino & games AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwittercenter_img Topics: Casino & games Tribal gaming 4th August 2020 | By Daniel O’Boyle AGA report: Michigan casinos worth $6.3bn annually to state Regions: US Michiganlast_img read more

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Michael Jordan takes equity interest in DraftKings

first_img Tags: Fantasy Sports 2nd September 2020 | By contenteditor DFS Michael Jordan takes equity interest in DraftKings AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newslettercenter_img Topics: Finance People Sports betting Strategy DFS Basketball icon Michael Jordan is to take an equity interest in DraftKings, in exchange for becoming a special advisor to the operator’s board of directors.In his new role, Jordan will provide guidance and strategic advice to DraftKings’ board on key business initiatives such as company strategy, product development, diversity, equity and belonging, and marketing.Jordan, an National Basketball Association Hall of Fame inductee, and six-time NBA Finals Most Valuable Player, is also currently chairman of Hornets Sports & Entertainment, which owns the Charlotte Hornets NBA franchise.The value of Jordan’s equity interest in DraftKings was not disclosed.“Michael Jordan is among the most important figures in sports and culture, who forever redefined the modern athlete and entrepreneur,” DraftKings co-founder and chief executive, Jason Robins, said.Read the full story on iGB North America. Email Address Basketball icon Michael Jordan is to take an equity interest in DraftKings, in exchange for becoming a special advisor to the operator’s board of directors.last_img read more

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Abelson Odds agrees Copa Libertadores expansion with Betfair

first_img23rd November 2020 | By Conor Mulheir Subscribe to the iGaming newsletter Abelson Odds agrees Copa Libertadores expansion with Betfair The knock-out phase will begin tomorrow, 24 November, with the final to be played in January next year. Reigning champions Flamengo are one of six Brazilian teams to have qualified for the last sixteen, alongside major South American clubs such as Arge4ntina’s River Plate and Boca Juniors. Regions: LATAM “Adding Abelson Odds’ player markets to every game of the knock-out stages will ensure that we are giving our customers the chance to get closer to the action.” Abelson is expanding its product offering to include full coverage of the tournament, starting with the upcoming round of 16 knockout stage. The competition, organised by the South American Football Confederation (CONMEBOL), and Betfair will integrate Abelson’s pre-match goalscorer pricing into its existing CONMEBOL offering. Eoin McArdle, from Betfair’s football trading team, added: “The Copa Libertadores is the highest level of football in South America and we are proud to be associated with it. “We are delighted to further extend our already strong relationship with Betfair, in this case by helping Betfair maximise its CONMEBOL betting product,” Abelson Odds’ head of compilation Jeevan Jeyaratnam said.center_img Sports betting The core Paddy Power Betfair business saw overall revenue climb 9.0% year-on-year to £351m, with sports revenue up 5% and gaming revenue 31%. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Results published earlier this month showed that Betfair owner Flutter Entertainment saw total revenue for the three months through to 30 September amount to £1.33bn (€1.49bn/$1.76bn), up from £1.04bn in the same period last year. Tags: Betfair Flutter Entertainment Abelson Odds Topics: Sports betting Online sports betting Sportsbook Email Address Sports data and odds supplier Abelson Odds has reached an agreement to provide its comprehensive goalscorer pricing and settlement (GPS) service to Flutter Entertainment-owned Betfair for the remainder of the international South American Copa Libertadores competition.last_img read more

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Spelinspektionen finds licensee websites still lacking in RG information

first_img5th February 2021 | By Conor Mulheir Responsible gambling The Spelpaus scheme has been live since January 2019, when Sweden opened its regulated online gambling market. Suspensions via Spelpaus can last for one, three or six months, or can be applied indefinitely. It emphasised that such features are of great importance for consumer protection and that all websites licensed for online gaming must meet these requirements. For example, in order for its requirements to be fulfilled, information on the specific risks of gambling together with concrete examples of the negative consequences gambling can have upon an individual must be provided. Many of the websites also lacked information on licence durations, and failed to state that Spelinspektionen is both a licensing and supervisory authority. With regard to gambling-related risks, the regulator said that there are still major shortcomings in the industry. Most of the sites reviewed showed responsible gambling logos in both logged-out and logged-in mode, and had a sufficient reference to an independent gambling helpline, unlike in previous reports, the regulator said. Regions: Sweden Spelinspektionen finds licensee websites still lacking in RG information However, it said that many of the websites lacked sufficient information about the licensee, for example, several did not have a telephone number and email address listed. Earlier this week, Spelinspektionen awarded its 100th online operating licence to casino operator Mr Vegas. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Shortcomings were also identified with regards to the provision of links for Sweden’s self-exclusion scheme, Spelpaus. A marketing campaign to promote the scheme was created in June 2020, after Spelinspektionen found that player awareness of the system was limited. Swedish gambling regulator Spelinspektionen said that operators must do more to provide responsible information about gambling-related harm and links to Swedish self-exclusion scheme Spelpaus on their websites, following an inspection of licensed operators carried out last autumn. Email Address It pointed out that it is the licensees’ responsibility to ensure they keep up to date with the relevant regulatory requirements, and that the shortcomings noted in the survey may lead to intervention from the regulator. Tags: Spelinspektionen Subscribe to the iGaming newsletter The regulator said some improvements had taken place since the last survey, which took place in 2019 and whose results were published in April 2020, but further work was still required from operators to prevent regulatory intervention. Topics: Casino & games Legal & compliance Social responsibility Sports betting Online casino Compliance Regulation Responsible gambling Online sports bettinglast_img read more

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