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SOFTSWISS Finds Slot Games Capturing 80 % Share of Online Casino Market

SOFTSWISS, a renowned supplier of certified software solutions, analyzes the trends in the online casino gaming industry to find out that slot games continue to hold the largest share in the online casino market. SOFTSWISS has measured the recent performance of Slot Games, Live Dealer Games, and Crash Games segment to reveal that the Slot Games segment still covers around 80 percent of the online casino market.

Slot Games Segment

For the purpose of the study, the provider of one-stop-shop casino and aggregation platforms and other solutions to international operators analyzes more than 300 customers and around 16,500 games. The study used parameters such as the gross gaming revenue and handle achieved by the SOFTSWISS Game Aggregator platform in 2023 and the beginning of 2024. The research finds that slot games took an 85.56% market share in 2023 and an 83% share at the beginning of 2024. This segment is therefore expected to stay above 80% in the forthcoming period.

Top-Performing Titles

slot_dominance_online_casino_games_snapshot_2024In 2023, Pragmatic Play’s Gates of Olympus and Sweet Bonanza slots were constantly included in the top 10 most popular games. But Push Gaming’s Retro Tapes took over the lead at the beginning of 2024 to move Pragmatic’s title to the second and third place, respectively.

Live Dealer Games

This type of games gained popularity over the subject period. Unlike slots, these games attract players ready to place larger bets and contribute to the handle with a lower bet count than slots. Therefore the average bet placed on card games in 2023 was 49.95€, compared to 0.75€ average slot bet placed on the SOFTSWISS Game Aggregator over the same period.

The most popular games from the category were roulette and card games. The segment was ruled by live casino games such as Crazy Time in 2023 and Prive Lounge Blackjack 5 at the beginning of 2024. As for roulette games, Playtech’s blockbuster Roleta Brasileira was leading the sub-category in 2023 to extend a high ranking in 2024. It is notable that this game is the most popular online gaming vehicle among players in Latin America.

Crash Games Category

This segment of the online gaming market follows the live casino games segment in terms of gross revenue generated in 2023 and the beginning of 2024. In 2023, the most popular crash game was Aviator by the Spribe studio, to be replaced by other titles in 2024. The trend testifies about the dynamics of this market segment and the continuously evolving player preferences.

Tatyana Kaminskaya, Head of SOFTSWISS Game Aggregator, commented: “Analysing just the first month of the year doesn’t provide the full picture, yet we do this to predict emerging trends. While slots continue to reign supreme in the gaming world, the diversity we see among the top-ranked games highlights the varied interests of our players. It emphasises the critical need to maintain a diverse portfolio that meets different layer preferences, ensuring a rich gaming experience. Adopting this strategy helps attract a wider audience and retain players by offering them various options, reducing the likelihood of them seeking alternatives.”

Source: “Slot Dominance: Online Casino Games Snapshot 2024”. European Gaming. March 4, 2024.

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MGM Tops Las Vegas Records, Unveils New $2B Share Buyback Plan

MGM Resorts International (NYSE: MGM) announced Wednesday that its fourth-quarter and full-year 2022 earnings before interest, taxes, depreciation, amortization, restructuring or rent costs (EBITDAR), and revenue set new records in Las Vegas and throughout its regional portfolio.

MGM buyback
MGM CEO Bill Hornbuckle, seen here in 2020. The company reported strong Q4 results and announced a new $2B billion buyback plan. (Image: Bloomberg)

The Bellagio operator said it earned 69 cents a share in the final three months of 2022 on revenue of $3.6 billion. Earnings per share (EPS) tripled while sales jumped 18%. MGM posted a consolidated adjusted EBITDAR of $957 million in the fourth quarter.

On the Las Vegas Strip, where it’s the largest operator, MGM’s revenue rose 27% to $2.3 billion, underscoring the benefits of the addition of the Cosmopolitan to the operator’s roster. MGM’s Las Vegas adjusted property EBITDAR in the fourth quarter swelled to $877 million from $699 million a year earlier.

At its regional venues, which include casino hotels in Maryland, Massachusetts, and Michigan, among other states, MGM posted net sales of $991 million, compared with $900 million a year earlier, as adjusted property EBITDAR increased to $320 million from $309 million.

MGM Extends Buyback Binge

Already one of the gaming industry’s most dedicated buyers of its own shares, MGM continued gobbling up its stock in 2022 as the operator bought 76 million of its shares.

Our share buyback program continues to return capital to shareholders as we have already repurchased 4 million shares for $164 million year-to-date, adding to the 76 million shares we repurchased in 2022 and totaling approximately $4.7 billion since 2021. Beyond this, our Board of Directors authorized an additional $2 billion for share buybacks,” said CFO Jonathan Halkyard in a statement.

Based on Wednesday’s closing price of $41.43, $2 billion would buy more than 48 million shares of MGM equity, meaning the current shares outstanding tally of 393.30 million would be significantly reduced.

News of MGM’s new share repurchase program arrived after implementing a 1% buyback last year.   President Biden wants to quadruple that rate to support lavish spending programs.

MGM China Back to Profitability

MGM owns nearly 56% of MGM China, and that’s a positive these days, as the Macau gaming industry is bouncing back from the negative effects of China’s lengthy zero-COVID policies.

What we accomplished in 2022 is nothing short of remarkable and is a testament to our strategic plan, scale, brand strength, talented team, loyalty program, and the diverse geographies and channels in which we operate. We believe that there is strong momentum in our business, and our 2023 outlook remains bright, driven by a robust events calendar domestically, MGM China’s rapid year-to-date return to profitability, and BetMGM’s ongoing improvement in 2023,” said CEO Bill Hornbuckle in the statement.

The casino operator controls half of BetMGM. The internet casino and online sportsbook entity is expected to turn profitable in the back half of this year. UK-based Entain Plc (OTC: GMVHY) owns the other half of that business.

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