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Light&Wonder Extends Its Partnership with Everi Digital to Expand to New Markets

Light & Wonder Incorporated and Everi Digital expand their long-term partnership and take it to the next level through a new deal. The partnership with Everi Digital, Everi Holdings Incorporated’s online gaming business, will allow Light & Wonder to expand across new markets in the UK, Europe, and Latin America.

Global expansion

light_and_wonder_signs_expanded_deal_allowing_everi_digital_to_further_global_reach_2Light & Wonder’s fans in the UK will be happy to hear that new games from Everi Digital’s impressive portfolio will be available to them through an advanced Light & Wonder online ecosystem.

When it comes to European expansion, the Italian players will get a chance to try some of Everi Digital’s games in the summer of 2024, while other countries will follow the lead and get access by the end of 2024.

Besides the European market, the companies will expand to South America, where the players will be able to enjoy thrilling Everi Digital’s titles from the first quarter of 2024.

Everi Holdings Incorporated became a leader in the industry when it came to providing both land-based and online casinos with fantastic content and advanced products such as financial technology services, player loyalty solutions, and bingo. The company is famous for following the newest trends, including launching fantastic video instant-win style games and perceived skill games that are about to be launched soon.

The partnership between Everi and Light & Wonder was established four years ago, and since then the companies have strengthened their positions in the North American market, offering a range of captivating content to the players in the continent.

Thanks to the success of the previous deals, they decided to expand it further. It means a lot to Light & Wonder since the deal is the latest phase of its long-term iGaming strategy, which includes establishing new partnerships with successful game developers and strengthening its position as one of the leading content providers in the world.

Light & Wonder’s portfolio currently consists of more than 3.500 games developed in-house and obtained from third-party studios. All of them provide a safe and secure gaming experience since they’re enriched with various responsible gaming tools.

Mutually beneficial partnership

Jordan Brent, the Digital Commercialization Vice-President at Everi, said: “This exciting collaboration with Light & Wonder allows Everi Digital to deliver our award-winning engaging gaming entertainment experiences to new players and markets. We are looking forward to providing our innovative content to a new segment of online players, driving the continued growth trajectory of our collective iGaming business.”

Steve Mayes, the Digital Partnerships Senior Director at Light & Wonder added: “Everi Digital’s content has proven hugely popular with players in North America and we look forward to sharing its games across more of our global network. We are always looking to expand the scope of our online content and stepper and skill games on Everi’s product roadmap will help achieve that goal.”

Source: Campbell, Alan, “Light & Wonder Signs Expanded Deal Allowing Everi Digital to Further Global Reach”. European Gaming. 2/6/2023.

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BetMGM Announces Exclusive Partnership with Elon Musk’s X

betmgm_announces_partnership_with_elon_musksXBetMGM, the famous international sports betting and iGaming operator, has announced the establishment of a strategic partnership with X, the huge social network formerly known as Twitter before it was acquired by billionaire Elon Musk.

The agreement will see BetMGM become the exclusive live odds and sports betting partner for X. This is the very first partnership of this kind between a large sports betting and online casino operator and a global social media brand. The odds provided by BetMGM and the operator’s branding will be integrated into X, with each game linking back to the BetMGM mobile application or to its website.

This deal has immense potential for BetMGM because a massive number of sports fans discuss the games of their favorite teams on X. Moreover, news about teams and top athletes are frequently first announced on X, making it a very popular place for sports enthusiasts.

An Unprecedented Opportunity

Adam Greenblatt, the Chief Executive Officer of BetMGM, described X as “the center of the sports world’s conversation 24 hours a day, seven days a week” and admitted that having the operator’s website and application directly accessible from the social media platform is “an unprecedented opportunity to expand” the company’s reach.

Linda Yaccarino, the Chief Executive Officer of X, said that “sports never sleep” on the social media platform and added that the strategic partnership with BetMGM places fans “practically in the front row” at their favorite competitions.

The partnership is mainly aimed at users in the United States who can take advantage of BetMGM’s latest betting odds on professional football, while the other major professional and college sports will follow in the coming weeks. The odds interface gives users a quick way to get into the application or website operated by BetMGM, but the integration between the two platforms will further evolve in the coming months with the addition of new features and functionality.

A Major Player in the Industry

BetMGM was founded in 2018 and it is headquartered in New Jersey. The company was formed as a result of the partnership between MGM Resorts International, the well-known casino operator and entertainment company, and Entain, one the biggest sports betting companies in the world. B

BetMGM has exclusive access to all of MGM’s land-based and online sports betting operations in the United States, along with major poker tournaments and online gaming businesses. The company offers sports betting and online gaming through various prominent brands including BetMGM, Borgata Casino, Party Casino and Party Poker.

Source: “BetMGM and X Sign Exclusive Sports Betting Partnership“. BetMGM. February 9, 2024.

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Las Vegas Lunar New Year Parade, Festivities To Celebrate Year of the Dragon

The annual Las Vegas Spring Festival, also known as the Lunar New Year Parade, will take place Saturday at Fremont East Entertainment District in downtown Las Vegas.

Celebrating Lunar New Year
Celebrating Lunar New Year in Nevada, pictured above. This is the Year of the Dragon. (Image: Travel Nevada)

It starts at 11 a.m. and lasts for about an hour. Between noon and 3 p.m., a parade after-party will be held at Downtown Container Park. It will feature live entertainment and many vendors.

Many other Lunar New Year events to usher in the Year of the Dragon will be held at casinos, malls, and other locations throughout Las Vegas this weekend. These include:

  • The North Premium Outlets will host a dragon dance between 1 and 3 p.m. Saturday.
  • The festivities continue between 3 and 8 p.m. Saturday at the UnCommons development. It will be highlighted by an Asian night market with food, crafts, live entertainment, a traditional dragon dance, a squid game-themed display, and wishing trees. The event is scheduled to run from 3 and 8 p.m. at 6880 Helen Toland St. It’s sponsored by the Asian American & Pacific Islander (AAPI) Chamber of Commerce of Southern Nevada.
  • The Shops at Crystals will hold a ceremonial lion dance at 1 p.m. Sunday.
  • The Desert Springs Community Center will sponsor a spring festival between 11 a.m. and 2 p.m. on Sunday. Live performances, arts and crafts, vendors, games, and workshops will take place.
  • Starting at 3 p.m. Sunday, the AAPI chamber will hold a new year’s festival at Chinatown Plaza, 4205 Spring Mountain Road. A traditional lion dance starts at 6:30 p.m. and a dragon drone show begins at 7:30 p.m. Events conclude at 9 p.m.

The Bellagio’s Conservatory & Botanical Gardens will display its “Infinite Prosperity: The Year of the Dragon” exhibit through March 2.

The display includes: 23K fresh and preserved flowers to make the children; 12K plants on display; 8K handmade and hand-placed scales on the dragon; and 1.8K I-Ching coins on the money trees and around Caishen, the Chinese God of Wealth.

Zodiac Symbol of Dragon

Traditionally, Chinese zodiac signs are represented by 12 different animals. This year it’s the dragon.

We love the Lunar New Year, and this symbol, the dragon, is one of the most powerful and prosperous of the lunar zodiacs,” Bellagio Gardens Project Manager Leah Jonic said in a statement.

The Lunar New Year also holds immense significance for the Asian community and visitors in Las Vegas, Chloe Kwan, director of strategic initiatives at Las Vegas-based Asian Community Development Council (ACDC), told Casino.org.

Fresh Start

“It marks the beginning of the year, symbolizing a fresh start through family gatherings, ancestral prayers, and cultural traditions,” Kwan explained. “In Las Vegas, the holiday is celebrated with elaborate decorations in every casino, reflecting the annual animal symbol — this year, the dragon.”

Among the traditions are gambling, believed to bring luck, and the many festivities bridge generations and preserve cultural heritage.

Lunar New Year events in Las Vegas encompass diverse Asian communities, fostering unity and participation. This year, being the Year of the Dragon (the wooden dragon in particular), holds heightened importance due to its symbolic power and leadership qualities,” Kwan said.




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Nevada Casinos Report Net Income of $3.44B in Fiscal Year 2023

Nevada casinos generated record revenue of $29.86 billion during the state’s 2023 fiscal year, but net income slid because of billowing inflation, interest, and overall administrative costs.

Nevada casinos abstract income revenue
The Resorts World Las Vegas casino floor is bustling in a file photo. Nevada casinos reported net income of $3.44 billion during the state’s 2023 fiscal year on gross revenue of $29.86 billion. (Image: AP)

The Nevada Gaming Control Board (NGCB) on Friday unveiled the 2023 Gaming Abstract for the 12 months ending June 30, 2023.

During the fiscal year, 300 casinos grossed at least $1 million on their gaming floors. Only casinos that generated over $1 million in gross gaming revenue (GGR) are included in the annual report that provides a financial analysis of the state’s nonrestricted gaming licenses.

The nearly $30 billion in revenue includes gaming win and sales from hotel rooms, food and beverage, entertainment, spa services, and other resort attractions. Gaming represented about 37% of the revenue, or $10.92 billion.

On the $29.86 billion in sales — 8.9% higher than the 2022 fiscal year — the 300 casinos reported net income of $3.44 billion. Net income dropped over 21%, with higher borrowing rates, labor, and materials and goods costs blamed for the decline.

Net income refers to the amount of revenue retained by the casinos after expenses have been paid but before federal income taxes are deducted and extraordinary expenses are covered.

2023 Still Solid

Nevada casinos experienced their second-best financial year in 2023, as 2022 was a banner performance.

Clark County, home to Las Vegas, accounted for the most revenue at $26.86 billion, which was a 9.5% year-over-year increase. Net income for Southern Nevada casinos was $3 billion, a 21% drop but the market’s second-best year.

Strip casinos generated $20.48 billion of the revenue and $1.37 billion of the net income. Downtown casinos reported revenue of $1.55 billion and net income of $259.17 million. While Strip casinos saw net income slide almost 34%, downtown resorts said net income fell 4%.

Every metered area in the state report incurred a net income decline from the 2022 fiscal year. But each market still reported positive net income aside from Lake Tahoe’s South Shore.

The positive net income came despite interest expenses surging 23% to nearly $449 million, rent increases of 70%, or $248 million, and general expenses climbing 17% to $613 million.

2024 Outlook

Nevada casino execs aren’t expecting costs to subside anytime soon, so revenue must continue to increase. Many expect that to happen, including MGM Resorts International President and CEO Bill Hornbuckle.

2023 was an amazing year. We’ve got some headwinds, particularly with labor costs, but there’s enough programming and enough momentum that we think we surpass,” Hornbuckle said on the company’s earnings call last week.

Last fall, the Culinary Union that represents resort workers up and down the Strip struck new labor terms with several casino operators, including MGM, Caesars Entertainment, and Wynn Resorts. Some 50,000 Las Vegas casino employees are receiving wage increases as a result of the new five-year union contracts.

The 12 months in 2023 were a record year for Nevada casinos, as GGR climbed to a new high of $15.5 billion. Union leaders successfully campaigned that their members deserved a bigger piece of the financial pie by way of increased pay and more robust benefits.

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Online Sports Betting Payment Preferences Revealed Thanks to the Paysafe Research!

In the world of online sports betting, payment methods are more than just transactions, they’re integral to the player experience. Paysafe’s comprehensive research delves into the intricate nuances of bettors’ picks, shedding light on how these choices influence their engagement with sportsbooks.

Streamlined Payouts

paysafe_research_stronger_online_betting_experience_starts_with_paymentsAccording to Paysafe’s research that was conducted across six United States (Massachusetts Michigan, New Jersey, New York, Ohio, and Pennsylvania), the Canadian province of Ontario, the United Kingdom, France, Germany, and Italy in December of 2023, the rapid withdrawals are a top priority for bettors worldwide. Surpassing factors like brand confidence and probabilities, players prioritize sportsbooks that offer swift and hassle-free payouts. This focus on streamlined transactions highlights the importance of efficient payment processing in enhancing the overall betting journey.

In addition to speedy payouts, bettors seek platforms that support their preferred payment methods. Paysafe’s findings reveal that seamless deposits are a crucial consideration for players when selecting a sportsbook. The availability of various payment options, ranging from traditional methods like debit cards to emerging alternatives such as digital wallets and eCash, is instrumental in catering to the diverse needs of players.

Player Retention

Beyond attracting new customers, maintaining player loyalty is paramount for sportsbooks. Paysafe’s research indicates that a seamless payment experience significantly contributes to customer retention. With 78% of bettors valuing payment satisfaction in their decision to remain loyal to a brand, sportsbooks must prioritize the optimization of their payment processes to foster long-term relationships with players.

The emergence of digital wallets as a preferred payment method is a notable trend highlighted in Paysafe’s research. Digital wallets offer convenience and security, appealing to a growing segment of bettors, particularly in regions like Italy and Germany.

Despite regulatory constraints in certain markets, credit cards maintain their popularity among bettors, especially in regions like France. Additionally, the research underscores the significant interest in eCash, particularly in countries with a strong cash culture such as Germany and the United States.

Localized payment options, tailored to regional preferences, are favored by a substantial portion of players. These LPMs cater to the specific needs and preferences of players, contributing to a seamless betting experience.

Security and Future Trends

While players generally express confidence in transactional security, continuous efforts are required to address any concerns and maintain trust. Sportsbooks must prioritize robust security measures to safeguard player data and financial transactions.

Looking ahead, the adoption of alternative payment methods is expected to grow significantly. Digital wallets and eCash are poised for increased usage, offering players greater flexibility and convenience in their transactions.

Interest in Cryptocurrency

Despite market volatility, cryptocurrency paymentsgarner significant interest among players, particularly in regions like the United States. This highlights the potential for cryptocurrency to emerge as a viable payment option in the future, offering players additional choice and flexibility.

The Global Gaming President for Paysafe, Zak Cutler said: “Our latest research clearly indicates the value of payments to online sportsbook operators at all stages of the player experience. Operators that optimize their payment offering will gain a competitive advantage when starting their brand’s relationship with new bettors. Given the correlation between the payment experience and brand loyalty, operators can maximize player retention by getting payments right. This includes upgrading their cashiers to cover all possible payment choices to meet evolving transactional expectations.”

Source: ”Paysafe Research: Stronger Online Betting Experience Starts with Payments”. European Gaming. February 8, 2024.

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