Lottery Maximizer

Indiana iGaming Revenue Could Exceed 2 Billion Dollars Within Three Years

A report commissioned by the Indiana Gaming Commission and conducted by Spectrum Group has found that the iGaming industry in the state could be able to generate revenue of up to 2.1 billion dollars over the first three years after legalization.

The report’s detailed prediction was that the iGaming sector could bring in between 1.9 and 2.1 billion dollars in revenue. This prediction is 5 percent more optimistic than what was revealed in the 2022 report.

The study has also pointed out that iGaming tax revenue over the first three years following legalization could amount to 929 million dollars for the state of Indiana. That prediction also represents a 5 percent increase on the estimations of the previous report.

The introduction of legal online gambling has been discussed for a long time in Indiana, with opponents claiming that online casinos would affect the activity of the long-standing land-based casinos in the state. However, the report claims that iGaming did not have a negative impact on other forms of gaming in other American states where it was introduced.

Despite the data provided in the report, chances for the legalization of online gambling in Indiana appear slim in 2024 because state legislators have agreed not to bring in any new proposals to this respect this year.

Lacking iGaming Legislation

The online sports betting industry has grown at a fast pace during the past few years in the United States, with online sportsbooks now legal in nearly half of the American states. However, iGaming has not been accepted on such a large scale, currently online gambling is legal in just seven states.

The lack of legislation for iGaming has prompted a major player such as WynnBet to close its operations in a number of states in August 2023. That left the major casino operator with activities just in Nevada in Massachusetts, where it owns land-based properties.

The chances of iGaming being introduced in New York also appear unlikely in 2024 after Governor Kathy Hochul has not introduced online gaming in the executive budget for 2025. However, state senator Joseph Addabbo did file a revised iGaming bill last week.

The example of the states that have introduced legal online gambling does provide some interesting data, though. Pennsylvania, for example, saw iGaming help its industry to reach a new gambling revenue record in 2023, a total amount of 5.7 billion dollars.

The iGaming sector attracted gross revenue of 1.5 billion dollars across the United States in the third quarter of 2023, an increase of 26 percent year-on-year and an all-time record for a single quarter.

Source: “Report finds Indiana igaming revenue could exceed $2bn within three years“. iGaming Business. January 19, 2024.

The post Indiana iGaming Revenue Could Exceed 2 Billion Dollars Within Three Years appeared first on Casino News Daily.

Pennsylvania Gaming Industry Reports Best Year Ever, 2023 Revenue Nearly $5.7B

Add Pennsylvania to the list of states calling 2023 their best year ever in terms of gaming. Joining New Jersey, which earlier this week announced record annual revenue, Pennsylvania on Thursday revealed that 2023 was a banner year for its gaming industry.

Pennsylvania gaming revenue casinos
Parx Casino was the top-grossing property in the Pennsylvania gaming industry in 2023. The year was a banner performance for the state industry, as revenue reached nearly $5.7 billion. (Image: Parx Casino)

Pennsylvania has brick-and-mortar casinos, iGaming, in-person and online sports betting, truck stop video gaming terminals, and fantasy sports. In 2023, the varying gaming interests combined to win a record $5.697 billion. The 2023 win represents a 9.3% year-over-year increase.

The year-end report from the Pennsylvania Gaming Control Board (PGCB) revealed that iGaming, consisting of online slot machines and table games, was primarily responsible for the record performance. Internet gamblers lost $1.74 billion, 28% more than they did in 2022.

Physical slot machines inside the state’s 17 casinos also fared well, as the terminals generated record gross gaming revenue (GGR) of $2.46 billion, a 3% improvement. Oddsmakers saw their sports betting hold climb more than 14% to a record $458.6 million.

The other verticals experienced slight year-over-year declines. Casino table game win dropped 2% to $990.5 million. VGT revenue fell 2% to $42 million, and revenue from fantasy sports contests slowed by 10% to $20 million.

iGaming Surging

iGaming in the six states where online casinos are legal continues to thrive. The $1.74 billion won by the online channels last year continued the sector’s impressive run.

Pennsylvania legalized iGaming through the state’s 2017 gaming expansion package. Online operations didn’t go live until late 2019.

iGaming’s first full year in Pennsylvania in 2020 came at a most suitable time. As the state ordered its physical casinos to shutter amid the pandemic, online casinos were open for play. iGaming platforms won more than $565.7 million that year.

Pennsylvania online casinos have only furthered their growth since. iGaming GGR in 2021 topped $1.11 billion, and ballooned to $1.36 billion in 2022.

The state’s land-based casinos have managed to increase their revenues despite iGaming’s significant revenue increases.

Retail slots and tables won $3.43 billion last year, a 1.6% year-over-year increase. The 2023 casino win also represents a 7% surge on 2021 GGR, but was only 5% richer than pre-pandemic 2019.

While brick-and-mortar casinos in iGaming states have managed to increase their year-over-year GGRs, analysts have expressed concerns that the online games could be slowing more robust brick-and-mortar growth.

Parx Leads

Parx Casino north of Philadelphia was the top-grossing casino in the commonwealth last year. The property won $386.2 million on its slots and $202 million on its tables for a combined haul of $588.2 million.

Parx and its sister casino, Parx Casino Shippensburg, are the only smoke-free casinos in the state.

Wind Creek Bethlehem placed second with GGR of $526.3 million, with slots accounting for $285 million and tables for $241.3 million.

As for iGaming, Penn Entertainment’s Hollywood Casino online brand led the way with revenue of $712.4 million. Penn held an impressive 41% market share of the iGaming industry. There are 12 online casino operators.

Pennsylvania Loses to New Jersey

Nevada and New Jersey had long been the country’s two richest gaming states until 2022 when Pennsylvania squeaked by the Garden State for second place. Pennsylvania’s 2022 GGR of $5,211,274,456 edged New Jersey by just $28,735.

New Jersey regained the second spot in 2023 after reporting GGR of more than $5.77 billion. Nevada hasn’t yet revealed its December numbers, but through November, the state’s casinos won more than $14 billion.

The post Pennsylvania Gaming Industry Reports Best Year Ever, 2023 Revenue Nearly $5.7B appeared first on

Bally’s Chicago Underwhelms, Falls Far Short of Revenue Projections

Bally’s Chicago, located inside the historic Medinah Temple, is on damage control. That’s after the temporary casino failed to come anywhere near its preopening revenue projections.

Bally's Chicago gaming revenue
There was much fanfare when Bally’s opened its temporary casino in Chicago last September. However, after nearly four months in operation, the casino has failed to realize preopening gaming revenue forecasts. (Image: Getty)

Bally’s Chicago opened on September 9 with 800 slot machines and 56 live dealer table games. The temporary 34,000-square-foot gaming facility is supposed to help bankroll the Rhode Island-based gaming operator’s construction of its permanent $1.7 billion resort casino at the Freedom Center.

The temporary casino was authorized by state and city officials also in part to immediately inject gaming tax money into Chicago’s nearly insolvent police and firefighter pension fund.

When then-Chicago Mayor Lori Lightfoot (D) approved the Bally’s bid, her office projected that the temporary casino would generate approximately $12.8 million in gaming tax proceeds for the city in 2023. The tax projection assumed Bally’s would win $102.5 million in 2023, with $61.5 million from slots, $40 million from tables, and $1 million from sports betting.

Per revenue reports released by the Illinois Gaming Board (IGB) on Wednesday, Bally’s Chicago is revealed to be severely underperforming.

Lackluster Start

According to the IGB, Bally’s Chicago generated gross gaming revenue (GGR) between September through December of just $30.4 million, a far cry from Lightfoot’s $102.5 million projection. The city’s gaming tax share amounted to a little more than $3.1 million — $9.7 million less than forecast.

Bally’s Chicago officials say unease is unwarranted. The temporary casino opened later than expected because of regulatory delays, they claim, and the property is still ramping up its marketing efforts to become part of the Windy City landscape.

Bally’s continues to build its relationship with Chicago gaming customers by offering our guests new and convenient ways to visit the property,” said Bally’s Chicago General Manager Mark Wong. “We’ve added free parking, new promotions, and expanded hours to meet customers’ expectations.”

Those efforts, which additionally include a controversial shuttle service between the casino and Chicago’s Chinatown neighborhood, resulted in the casino experiencing its best month to date in December. It counted nearly 100K admissions during the 31 days, and won more than $8.5 million from gamblers. The daily average of roughly 3,220 visitors represents a considerable uptick on the 2,681 daily patrons the casino reported in October, its first full month in business.

Bally’s last year delivered Chicago a one-time upfront payment of $40 million to secure the city’s integrated resort license. Those funds provided an immediate pension benefit for the first responders.

Lofty Projections

Despite December being a strong month for Bally’s Chicago, the temporary facility has lofty revenue targets in the years ahead.

In 2024, city officials expect the casino to win $242.7 million and deliver the city $34.4 million in gaming taxes. The revenue projection grows to $253.6 million in 2025, and to $638.6 million in 2026, when the permanent resort is expected to open.

There are many concerns about whether Bally’s has the financial wherewithal to bring the $1.7 billion project to reality. Bally’s is also reportedly facing a federal investigation into how it beat out other casino bidders for the Chicago gaming license.

The post Bally’s Chicago Underwhelms, Falls Far Short of Revenue Projections appeared first on

Michigan iGaming Operators Report Record-Breaking November Revenue

The Michigan Gaming Control Board, the regulator in charge of the gambling and sports betting market in the American state, reported that the licensed operators it oversees managed to generate solid revenue in November 2023.

According to the state regulators, commercial and tribal operators in the Great Lakes state reported a total of 209.2 million dollars in revenue (gross receipts and gross sports betting receipts) in November. The result marks an increase of 1.9 percent compared to October 2023.

The iGaming sector was the one that caught the eye with gross receipts of 175.3 million dollars, the highest number to date. The previous record was 171.8 million dollars and it was recorded in March 2023. In October 2023 gross receipts from online casinos amounted to 160.3 million dollars.

Gross sports betting receipts for November 2023 amounted to 33.9 million dollars, a sharp decrease from the 45 million dollars that were generated by this sector in October 2023.

Combined total adjusted gross receipts for November were 158.1 million dollars, with almost the entire sum coming from iGaming: 157.8 million dollars, while sports betting only accounted for 294,810 dollars. The adjusted gross receipts figures show an increase of 9.4 percent for iGaming and a drastic decrease of 98.7 percent for online sports betting compared to October 2023.

Tens of Millions of Dollars in Taxes

The total sports betting handle for online operators amounted to 568.8 million dollars in November, an increase of 6.7 percent compared to October 2023 and also the highest online sports betting handle to date in the state of Michigan.

Licensed operators in the state submitted 33.6 million dollars in taxes and payments to the State of Michigan during November, with most of the sum (32.9 million dollars) coming from internet gaming taxes and fees. Internet sports betting taxes and fees amounted to 740,056 dollars in the month of November, while the three land-based casinos in Detroit paid the city 8.4 million dollars in wagering taxes and municipal services fees during November. Tribal operators also reported making payments worth 4.1 million dollars to governing bodies in November.

At the end of November 2023 there were a total of 15 commercial and tribal operators operating in Michigan in iGaming and/or online sports betting. Fourteen of these operators were active in internet sports betting while fifteen were offering iGaming services.

Source: “Michigan iGaming, sports betting operators report $209.2M in November revenue“. Michigan Gaming Control Board. December 19, 2023.

The post Michigan iGaming Operators Report Record-Breaking November Revenue appeared first on Casino News Daily.

Spain Sees 55.1% Increase in Q2 Gambling Revenue

spanish-gambling-revenue-up-55.1-year-on-year-to-312.6m-in-q2With the daily development of the iGaming industry, the numbers showing the increase or decrease in profits of a market are constantly changing. Spain is one of the markets that can boast improvement!

Spain’s gross gambling revenue (GGR) experienced substantial growth in the second quarter of the year, rushing by 55.1% year-on-year to reach €312.6 million. This strong performance was driven by substantial gains in sports betting earnings, which more than doubled during the period.

Total income for the quarter outpaced last year’s numbers and was also 2.5% higher than the first quarter, according to data released by Spain’s regulatory body, the Directorate General for the Regulation of Gambling (DGOJ).

Casino and Slot Machine Revenue Surge

Casino games, which are proven to be one of the most popular games, developed the highest GGR in Q2, totaling €149.9 million, marking a 27.9% boost compared to the previous year and a 4.5% rise from Q1. Slots stood out and its income saw a noteworthy growth of 29.9% year-on-year, while live roulette GGR increased by 8.9%.

The sports betting element witnessed the most impressive evolution, with GGR reaching €133.3 million, marking a staggering 118.9% boost from the previous year. Pre-event sports betting GGR also contributed and grew by 1.8% compared to Q2, while live betting GGR increased by 3.5%Horse racing bets soared by 22.7%, although GGR from other sports bets fell by 15.1%.

Other Gaming Verticals

Poker GGR reached €25.8 million, a 27.6% increase from the previous year, although it was 5.8% lower than the first quarter. Tournament poker GGR was up by 38.1% approximated to Q2 of 2022, and cash poker GGR also saw a 4.9% increase.

However, Bingo GGR contributed and reached €3.5 million, up by 5.5% from the previous year and also 5.5% higher than Q2 this year. Contests GGR amounted to €140,000, a substantial 1,464.9% boost from last year, but it was 41.5% lower than Q2.

Marketing Expense and Player Activity

Player stakes rose by almost 20%, while withdrawals were 3.0% higher than in 2022 but 2.3% lower than in the first quarter. Licensees’ total marketing spend in Spain reached €96.6 million, with promoting spending up by 7.7% from last year, affiliate spending mounting by 56.2%, and sponsorship skyrocketing by 225.2%. However, promotions were down by 1.7%.

The number of active gaming accounts increased by 11.4% from the previous year to 1,134,993, while the monthly norm for new accounts fell by 3.0% to 102,804 users.

The DGOJ also reported that 78 licensees offered some form of gambling during Q2, with 43 presenting sports betting, 50 delivering casinos, nine contributing poker, three presenting bingo, and two offering contests.

Source: ”Spanish gambling revenue up 55.1% year-on-year to €312.6m in Q2”. iGamingBusiness. September 21, 2023.

The post Spain Sees 55.1% Increase in Q2 Gambling Revenue appeared first on Casino News Daily.