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Slotagrator Releases the Results of Its Research and Predicts the Trends in 2024

Traditionally, Slotegrator announced its report for 2024 and shared its expectations and predicaments for the year full of industry changes and thrilling innovations.

Research

slotegrator-The company conducted research among the online casino operators and gaming content developers, including big industry names such as Caleta Gaming, Macaw Gaming, SKILROCK, Turbo Games, Amigo Gaming, 3 Oaks Gaming, Gamzix, and many more, and created a report that focuses on biggest industry changes and trends in the iGaming industry in 2024.

According to the report, the games with rapid-fire gameplay and enriched with some captivating mechanics will be the most popular among the players. What does that mean for developers? They’ll likely continue to work on developing crash games since they’ll be the most popular format.

A huge 75% of players are either playing crash games or plan to start in the future, and the majority of them are between 25 and 34 years old.

Also, the developers will create new games to draw the attention of the new players. The bonus policies will also be in focus since effective bonuses are proven to be the best way to acquire new players and keep the existing ones satisfied.

The companies will focus on creating seamless mobile experiences since it is the most popular way to access betting websites and apps – and it’s here to stay.

On top of that, sports betting will be more popular than ever. The estimated revenue for 2023 is $43.55 billion, which is a 9.94% increase compared to the year before, and by 2027, the revenue is expected to reach $63.62 billion.

Esports will be enriched with VR, which will allow players to participate in the events. The VR technology in the industry keeps affecting it, so the steady growth is expected to continue. It is expected that revenue from esports will reach $2.1 billion in 2023, and by 2027 the number would be $3.2 billion.

New technologies

In the era of AI, its use in the iGaming sector will also be enhanced in order to improve the security of the players and offer a more personalized approach to each player. One of the main goals will be using AI to promote and upgrade responsible gaming practices since it’s one of the most important parts of the industry.

Blockchain technology will become even more popular, especially when it comes to delivering new mechanics and tools. Cryptocurrencies will become an important part of the industry in the future since the number of players that use them has increased – it goes from 40% to 80%, depending on the operator.

Ayvar Gabidullin, a Business Development Manager at Slotegrator, commented: “This report will be useful for beginning operators doing research before launching their first project, platform operators planning to expand into new markets or add new offers to their established online casinos, B2B service providers working on their business development strategy, and gambling community members who want to stay on top of current trends.”

Source: P. Wladimir, “Popular games, VR in esports, top technologies, and prominent markets: Slotegrator presents a report on iGaming trends in 2024″. European Gaming. January 10, 2024.

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Arkansas Supreme Court Rejects Casino Appeal, License Back to Racing Commission

The Arkansas Supreme Court will not hear an appeal petitioned by the Cherokee Nation Businesses (CNB) regarding its planned Legends Resort & Casino in Russellville.

Arkansas Supreme Court Cherokee Pope County
The Arkansas Supreme Court will not take up an appeal from an Oklahoma tribe seeking to build a commercial casino in Pope County. The Cherokee Nation Businesses, however, is still the presumed front-runner for the gaming license. (Image: AP)

A year ago this month, Pulaski County Circuit Judge Tim Fox ruled that the Arkansas Racing Commission erred in issuing a commercial casino license earmarked for Pope County to CNB, the commercial business unit of the Cherokee Nation in Oklahoma. In considering a lawsuit challenging the granting by a rival casino bidder, Gulfside Casino Partnership in Mississippi, Fox determined that the Cherokee bid violated rules established through Amendment 100 of the Arkansas Constitution.

State voters in November 2018 passed the amendment to allow a single casino in the counties of Crittenden, Garland, Jefferson, and Pope. The casino bidding rules, however, required the state Racing Commission to only consider pitches from single entities.

Fox concluded that CNB applied as a consortium with a newly formed company called Legends Resort & Casino, LLC. The state Supreme Court last week opted to deny reconsidering the case. The high court in October upheld Fox’s decision in a 5-2 ruling.

License Returned to Racing Commission

With the Cherokee’s appeal formally settled, the Pope County casino license has been returned to the Arkansas Racing Commission. The state gaming regulator is expected to conduct a new bidding round, but the $300 million Legends Casino will presumably be the only qualified bid.

In separate litigation, it’s been determined through the Arkansas court system that bidders must have the support of either the sitting county judge or the present county quorum court. Last month, the Pope County Quorum Court voted 7-6 to endorse the CNB proposal. Pope County Judge Ben Cross has also backed the Legends development.

Gulfside previously applied with a letter of support from former Pope County Judge Ed Gibson, who issued his backing on the final day of his tenure before he exited the position in December 2018. Gulfside pitched a $254 million casino in Russellville called River Valley Casino Resort.

While Fox ruled against the Cherokees in January 2023, he also discredited the Gulfside plan when he decided that “the county judge” in Amendment 100’s language refers to the current judge — not a former county judge.

CNB will be expected to reapply as a single entity, likely as Legends Resort & Casino, LLC, which the company fully owns.

License Dilemma Continues

More than five years since Arkansans approved a casino in Pope County, the gaming license still hasn’t been issued. Meanwhile, casinos have opened in the three other counties.

The Pope County controversy began in 2020 when it was determined that Racing Commissioner Butch Rice had a bias in his grading of the Gulfside bid a perfect 100 out of 100 and the Cherokee plan just 29/100. The Racing Commission decided to exclude Rice’s scoring, which had tipped the overall score in Gulfside’s favor and opted to issue the license to the Cherokees.

That initiated the legal controversy, with Cherokee and Gulfside attorneys battling for the casino concession ever since. Ricer is no longer a commissioner on the seven-person state agency.

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ESPN Bet Rapidly Outperforming Barstool Sportsbook

Penn Entertainment’s (NASDAQ: PENN) ESPN Bet mobile sports wagering application has been live for about two months and in that brief period, state-level data indicate the app is outperforming predecessor Barstool Sportsbook.

ESPN Bet Penn Entertainment sports betting
The ESPN Bet logo. The new sports betting app is generating more revenue for Penn Entertainment than predecessor Barstool Sportsbook. (Image: ESPN Bet)

The app debuted in 17 states on November 14 on while not all of those states have delivered November data let alone reports for December, the early indications from some states confirm ESPN Bet is generating more revenue than Barstool Sportsbook.

Out of the gates, ESPN Bet garnered a double-digit share of gross gaming revenue (GGR) in Indiana, Iowa, and Maryland. Last month in Maryland, ESPN Bet’s handle was $42.4 million, more than double the $16.4 million notched by Barstool Sportsbook a year earlier. In Iowa, ESPN Bet’s December handle was $18.8, well ahead of the $7.2 million generated by the predecessor app in December 2022.

Impressively in Maryland, ESPN jumped to third in terms of market share last month, trailing only FanDuel and DraftKings (NASDAQ: DKNG).

Promotional Spending Helping ESPN Bet

When new operators enter the ultra-competitive US sports wagering space, the typical concern is that those firms will spend heavily on promotions to lure new clients, but prove ineffective at retaining bettors when the bonuses wear off.

Indeed, Penn has doled out attractive promotions since launching ESPN Bet, but Bank of America analyst Shaun Kelley recently noted that the operator’s promo spending in Kansas, Kentucky, and Maryland was tolerable. Jefferies analyst James Wheatcroft pointed out the operator’s current bonus offer for new clients is $150, down from the original offer of $250.

Spending effectively is critical for Penn because the regional casino operator is paying ESPN $2 billion in cash and stock over 10 years to use the sports network’s brand.

Penn estimates the relationship with “the worldwide leader in sports” could add $500 million to $1 billion in long-term, adjusted earnings before interest taxes, depreciation, and amortization (EBITDA) to its interactive gaming unit. Still, ESPN Bet is expected to generate a loss of at least $100 million this year, indicating 2025 will be the earliest at which the app turns profitable.

ESPN Bet Having Overall Positive Impact on Market

The emergence of ESPN Bet and Penn’s willingness to spend to attract clients is being felt across the industry as highlighted by some elevated promo spending activity.

Unsurprisingly, industry-wide promotional reinvestment accelerated in November, largely due to the mid-month launch of ESPN Bet,” observed Stifel analyst Jeffrey Stantial. “However, we also observe modestly higher spend for certain well-established incumbents (in particular DraftKings), as well as continued above industry-average reinvestment for Fanatics & bet365.”

Some data points seem to suggest that ESPN Bet may have pilfered market share from BetMGM and DraftKings immediately following its November debut, but DraftKings noted its customer churn that month was normal and that it believes ESPN Bet has the potential to grow the market of US sports bettors, which would be a positive for the industry at large.

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Ige 2024, Shaping the Future of Gaming in Italy and Beyond!

The inaugural Italian Gaming Expo & Conference (Ige) promises to be a transformative two-day event on April 18-19, 2024, at the Palazzo dei Congressi in Rome. Themed “The Sustainable Future of Gaming,” it introduces a B2B platform dedicated to the Italian gaming industry. Concurrently, the Italian Gaming Awards 2024 (Iga) have kicked off, building anticipation for the gala evening on April 18th at Spazio Novecento in Rome.

20 Award Categories

Iga beckons companies at the forefront of the Italian market to submit applications across 20 award categories. With nominations open www.italiangamingwards.com on www.italiangamingwards.com until February 29, 2024, the awards ceremony is set to recognize excellence and best practices in the gaming sector.

The two-day Ige event caters to C-level executives, institutions, experts, scholars, and influencers. It offers a unique opportunity to explore key themes shaping the gaming world, including technological advancements, sustainability, and innovation. The event aligns with ongoing government and parliamentary reforms, shaping the future of the industry.

The evolution of technology is central to the gaming industry’s future. Ige places a spotlight on Supply Chain and Procurement managers, CFOs, and HR executive directors, unraveling the dynamics of the value chain, ESG models, Diversity & Inclusion, and new organizational processes fostering sustainability and digital transformation.

Ige delves into trends such as the metaverse, artificial intelligence, blockchain, and digital payments. Regulatory aspects, including the fight against match-fixing, horse racing sector revival, and esports regulation, are also in focus. Against the backdrop of impending legislative reforms, Ige aims to shape the industry’s approach for 2024 and beyond.

While dedicated to the Italian industry, Ige maintains an international profile. Collaborations with Imgl – The International Masters of Gaming Law, and media partnerships with global gaming organizations like Sbc Media, InterGame, and Casino Magazine, add an international dimension to the event.

Exceptional Scientific Committee

Ige’s content and organization benefit from an outstanding scientific committee comprising experts, scholars, and professionals. The committee, including luminaries like Lucio Lamberti, Francesco Rodano, Quirino Mancini, and Ludovico Calvi, ensures a balanced blend of industry and academia.

The Iga adds an extra layer of excitement to the Iga. An evening dedicated to rewarding excellence and best practices in the Italian gaming sector, it converges music, entertainment, and networking at the charming Spazio Novecento.

Ige is spearheaded by the Gn Media publishing group, leveraging its 15-year legacy in international gaming. With a monthly reach of over 1 million through the GiocoNews.it and EsportsMag.it networks, the group serves as a vital link in the gaming industry.

Supported by Media Partnerships with leading newspapers and press agencies, Ige ensures maximum visibility. An ad hoc communication campaign, strategic partnerships, and support from global event organizers further amplify its reach.

As the gaming industry prepares to witness the dawn of Ige, the event not only marks a debut but a pivotal moment in shaping the sustainable future of gaming in Italy and beyond.

Source: ”Nominations For The Italian Gaming Awards (Iga) Are Open An Event Within The Event In Cooperation With Ige – Italian Gaming Expo & Conference”. European Gaming. January 12, 2024.

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Maloof Brothers Sell Las Vegas Golden Knights Stake

The Maloof Brothers — George, Gavin, Joe, and Phil — have sold what is believed to be their 30% ownership interest in the Las Vegas Golden Knights to Bill Foley. The billionaire founder of Foley Family Wines has been majority owner and chair of the NHL team since its 2017 inception.

Gavin and Joe Maloof celebrate the Vegas Golden Knights Stanley Cup win in 2023. (Image: YouTube)

According to a media release from the team, a fifth Maloof sibling, Adrienne, will continue to be a limited partner with the franchise.

“We would like to thank the entire Maloof family for their contributions to the Vegas Golden Knights organization during their tenure as minority owners,” Foley said in a statement. “They were helpful in bringing NHL hockey to Las Vegas and had a belief and commitment to our city as a viable major professional sports market. We wish the family continued success.”

Though always minority owners, the Maloofs started started the puck scooting on the expansion team. After selling the NBA’s Sacramento Kings, which they owned from 1998 until 2013, they met with NHL commissioner Gary Bettman about bringing hockey to the desert.

Bettman suggested that they meet with Foley, who ended up footing the $500M expansion fee. The Golden Knights played their first game at T-Mobile Arena in 2017.

Not only were the Golden Knights the first major-league sports franchise ever to represent Las Vegas, they were also one of few expansion teams to ever experience immediate success. They reached the Stanley Cup Finals in their first season, 2017-18, and won their first Stanley Cup in 2023 by defeating the Florida Panthers in five games.

Casinos in the Family

Casinos have always loomed as large as sports in the Maloof portfolio. Nearly 30 years ago, the family, which hails from New Mexico, opened the Fiesta Rancho in North Las Vegas.

They sold that property six years later, to Station Casinos, to help finance construction of the Palms. The casino resort’s $275M first phase opened in November 2001, with Station Casinos as a minority owner.

In 2011, after the Great Recession decimated business across Las Vegas, the Palms was sold to Texas Pacific Group and Leonard Green & Partners, with the Maloofs retaining a 2% interest.

Red Rock Resort, Station Casino’s parent company, then purchased Palms for $312M in 2016, selling it for more than double that amount ($650M) to the San Manuel Band of Mission Indians, its current owner, five years later.

 

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