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Are Slots Still As Popular As Before? Complete Analysis By SOFTSWISS

In an analysis of which online game suppliers have become the most successful in recent times and which games are the most popular, SOFTSWISS, a leading crypto gambling provider based in Malta, was kind enough to offer all-inclusive ecosystem of end-to-end software solutions and share important insights into the regional markets. Additionally, the analysis below is introduced according to data from the SOFTSWISS Game Aggregator covering H222 and H123.

Europe

are-slots-losing-popularitySlots stay famous in Europe, although they lost almost 5 p.p. throughout the second half of 2022 and the first half of 2023. However, regardless, their market share still surpasses 80% when looking at the other games. Contrary to this, the card games category enhanced its position by nearly 4 p.p.

Furthermore, the best 5 most famous game categories went through little changes in the second quarter of this year. The total wagers amount in the craps games category saw a slight growth, increasing 2.7 times compared to the former quarter. This increase in performance was ranked a number 5 for this type of game when looking at the best rankings, replacing the casual games category.

As for the most famous games throughout 2022, there are Midas Golden Touch, Big Bamboo and Gates of Olympus. Relatedly, the environment of the best games showed important quarter-to-quarter variations.

And finally, the most famous game suppliers for Europe are Amusnet (EGT), Evolution, Relax Gaming, Amatic, BGaming, Push Gaming and Pragmatic Play. However, their ranking had subtle quarter-to-quarter changes.

Asia

As for Asia, the best 5 most famous game categories have shown a steady trend since the last quarter of last year. Slots occupy an important position and their market share surpasses 80% in relation to other categories. Regarding most famous games, Gates of Olympus held the top spot in the fourth quarter of last year and has managed to maintain that position ever since. However, there’s another famous game, Bonanza Billion, which has seen fluctuations in its rankings within the top five, which started from the end of 2022. The total wagering amount of Aviator doubled throughout the first half of 2023, making the game the leader. Contrary to this, the once famous game, Hot Fruits is no longer a top game and lost its popularity throughout the second quarter of 2023.

Furthermore, when it comes to the most famous game suppliers in Asia, it needs to be pointed out that Pragmatic Play, BGaming and Evolution have been fighting relentlessly for positions among the top five during the last 4 quarters under consideration. Amatic and Play’n GO gave up their positions in the rankings to Amusnet (EGT) and 1spin4win and Amusnet topped the list in the second quarter of this year.

In this regard, the Head of SOFTSWISS Game Aggregator, Tatyana Kaminskaya, said: “The popularity of the Aviator game can be explained by simple interface and fast payouts. What sets it apart even further is its distinctive gameplay mechanics, which significantly differ from other crush games in the market. Notably, Aviator provides players with the illusion of “control” over the game, adding an extra level of excitement and intrigue.”

LaTAM

As for Latin America, the best 5 of the most famous game categories have stayed the same as last year, with slots leading the way with a 60% market share. Among the most famous games in the top five are: Roleta Brasileiri – 8.27%, Aviator – 5.97%, Gates of Olympus – 5.24%, Sweet Bonanza – 3.44% and Crazy Time – 3.14%.

Also, Aviator jumped to the top in the fourth quarter of 2022, meaning that it saw an important growth in the total wagers amount, almost 170 million more, compared to the former quarter. This achievement moved its supplier, Spribe, from 10th place in third quarter of last year to the fourth in the second quarter of this year, eliminating Play’n GO from the top five. Other suppliers, notably BGaming, Evolution, Playtech and Pragmatic Play stayed in the top five with slight change when it came to their rankings during 2022.

Moreover, the best 5 most famous games account for nearly25% of the total wagers amount across every game in Latin America. However, in Asia and Europe, it accounts for nearly 10%. Also, one more significant market trend is the bypassing of roulette slots, and the rising demand for live games.

On that note, Regional Business Development Manager at SOFTSWISS in LatAm, Carla Dualid, said: “Players in Latin America in the context of online gambling may differ from players in Europe in several ways. Most Latin American players bet through mobile devices and prefer online play. Local casino slot players tend to place small but regular bets, which distinguishes them from European online casino players, who, in turn, bet less frequently, but wager larger sums on slots. Speaking about the LatAm market, we should keep in mind that Brazil is the most active player in it. Such factors as economic potential, increasing Internet penetration, mobile accessibility, and regulatory changes are making the Brazilian market more attractive for operators.”

Source: “Are slots losing popularity”. European Gaming. October 3, 2023

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Fontainebleau Las Vegas Still Poised for 2023 Opening – First Regulatory Hurdle Cleared

fontainebleau_las_vegasFontainebleau Las Vegas is well on its way to opening in December with a preliminary Nevada Gaming Control Board suitability hearing in the rearview mirror and a Nevada Gaming Commission hearing on July 27 which almost certainly result in a recommendation to grant the property a license in November. Then, it’s all blue skies, or Fontainebleau wrapping up the details to open in December – finally, after breaking ground in 2007 and investing nearly $4 billion dollars in the development and surrounding economy.

Long Time in Development, Multiple Setbacks

The nearly 70-floor property has stood out on The Strip for years, at one point, it was swathed in white construction wrapping and called an eye-sore by neighboring businesses when in the hands of another owner.

A quick rundown of the type of property visitors can expect when it is opened all point to a high-end experience with over 400 suites included in a count of over 3,500 hotel rooms.

The casino space will be modest by the percentage of total floor space with about 150,000 sq ft of gaming area holding 128 gaming tables and 1,300 slots. High rollers and mid-rollers will be catered to with nearly 20,000 sq ft of VIP gaming space and over 3,000 square feet of domestic high-limit floor. There will reportedly be 6 Salons Privé. Sports bettors will find a dedicated space of more than 13,000 square feet.

The casino will be at ground level with a retail promenade above it and health and fitness above that. Over half a million square feet of convention and meeting space is included with one area covering over 100,000 square feet making it the second-largest meeting hall in the market.

About half of the dining space will be high-end and the remainder reserved for casual dining. The upscale areas will include international chefs and globally recognized brands.

Nightlife has not been overlooked with a nightclub as well as a day club and a theater to seat nearly 4,000 visitors. Development partner “It’s an arena-size theater stage and it will be a multi-purpose room,” Fontainbleau development partner Brett Mufson said. “We will have residences and host groups and meetings, speaker series, and car events.”

To Employ 7,000+

Nearly 4,000 workers are currently on site and operations will require more than 4,500 full-time workers and nearly 2,000 part-time employees. At full operational capacity, including partner employees, over 7,000 people will be employed with some 250 in executive positions.

At Wednesday’s preliminary hearing, Jeffrey Soffer and Brett Mufson of Fontainebleau Development were found suitable to operate the property. They will face the Gambling Board soon for what usually results in a rubber stamp after a few tough questions that may be left dangling, giving applicants a chance to tidy up any loose ends and give finality to any open questions not fully addressed at the preliminary hearing. In this case, it may be a tax matter from a decade ago and whether any debt forgiveness was included in Soffer’s repurchase of the loan involved in the property.

Soffer was the original developer, but he ran into difficulties when the great recession set in and turned the economy upside down in 2008. The current development also includes the deep pockets of Koch Industries’ real estate investment subsidiary, Koch Real Estate Investments. Raider/investor Carl Icahn owned the property for a while but it didn’t progress toward opening under his ownership.

Concerning the “suitability” issue that was brought up during the hearing, gambling lawyer Frank Schreck provided some detail. Schreck said:

“The focus of the investigation appears to be an analysis of a loan related to the development of Town Square more than 10 years ago. It was purchased from the lender by Jeff Soffer and his sister Jackie. According to Mr. Soffer’s counsel, Rod Rosenstein, the former Acting Attorney General, the issue seems to be whether or not there was any debt forgiveness related to the repurchase of that loan. We are still unsure whether Mr. Soffer’s tax accountants properly accounted for any forgiveness in the complicated transaction.”

Thanks to the consequences of the “Great Recession” of the late 2000s, Soffer reportedly had hundreds of millions of dollars of net operating losses. These would presumably be available on paper to take care of any tax liability.

Second Chances

Soffer has owned the property again since February 2021.

“Soffer said, “It’s been a full circle with this development and I’m excited to be able to finish this. It’s going to be fabulous for Las Vegas. It’s definitely a little different than originally planned. It’s much more upscale.”

According to an article in CDC Gaming Reports, Gaming Control Board Chair Kirk Hendrick didn’t have any concerns about earlier failures of the property during the “economic downturn” of the 2000s.

“I’m very excited for that part of the Strip to see some revitalization and your property move forward,” Hendrick said.

According to local ABC News affiliate KTNV, US casinos made a record-breaking $60 billion in revenue in 2022. Nevada casino operators accounted for $14.8 billion, and casinos on the Strip accounted for more than 10%, or $8.2 billion of the entire nation’s gambling revenues, making the Las Vegas Strip the top gaming market in America. A distant second was Atlantic City with 2022 revenues of $2.8 billion last year.

Source: Fontainebleau Las Vegas on track for November licensing ahead of December opening, CDC Gaming Reports, July 12, 2023

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Steve Wynn Still Hasn’t Found a Buyer for Beverly Hills Mansion

Steve Wynn continues to struggle to find a buyer for his Beverly Hills mansion.

Steve Wynn Beverly Hills Los Angeles mansion
The interior of Steve Wynn’s Beverly Hills mansion overlooks the Los Angeles skyline. Wynn has been trying to sell the Los Angeles mansion for more than two years. (Image: Compass)

Wynn had no problems finding buyers for his 11.8% stake in his namesake casino empire when the billionaire departed Wynn Resorts amid shameful allegations that he handled himself improperly around female subordinates during his career. After selling his shares for about $2.1 billion in March 2018, Wynn exited the gaming industry and relocated to South Florida.

Wynn has since taken up the hobby of flipping premier beachfront real estate in Palm Beach County. The Las Vegas visionary has also sought to unload his properties in Nevada and California.

Wynn sold his mansion in Summerlin’s “Billionaire’s Row” west of Las Vegas in April 2022 for $17.5 million. It was a deep discount from the initial $25 million asking price at which Wynn listed the 15,000-square-foot estate in June 2020.

90210 a Buyer’s Market

Though Wynn called Southern Nevada home for decades as the billionaire oversaw his Wynn Las Vegas and Encore resorts on the Strip, the casino magnate purchased marquee properties around the country. The costliest residence he ever bought was his Beverly Hills estate located at 1210 Benedict Canyon Drive.

Wynn bought the mansion in August 2015 for almost $48 million. He then spent many millions more renovating the 27,150-square-foot mansion into a Los Angeles villa that oozes the class, luxury, and opulence that his Las Vegas casinos are known for.

But Wynn hasn’t been able to find a buyer for the home since he decided to sell it in early 2021. Wynn listed the Beverly Hills compound in April 2021 for $125 million.

The price was lowered to $115 million in October 2021 and down to $100 million in March 2022. Wynn’s listing agent announced in January that another $15 million had been slashed, with the asking price down to $85 million.

Wynn hoped to sell the home before Los Angeles’ hefty real estate tax on properties over $5 million went into effect. As of April 1, 2023, sellers of residencies above $5 million pay a 4% tax on the transaction to the city.

On home sales upwards of $10 million, the fee jumps to 5.5%. On an $85 million sale, the city’s cut would be about $4.67 million.

Cash Offer Likely

With interest rates high, Wynn will presumably need to find a cash buyer for his Los Angeles pad. His Nevada realtor says that’s how the billionaire sold his Summerlin mansion last year, as that buyer paid the $17.5 million in cash.

Along with the $85 million asking price, 1210 Benedict Canyon has some of the priciest real estate taxes in the nation. The home’s property taxes last year were about $654K on a property assessment of $54.8 million.

Built in 1994, the Wynn Beverly Hills estate sits on 2.7 acres and has 11 bedrooms, 13 full baths and three half baths, an attached guest house, and an outdoor pool.

The listing claims the property also has the “most exquisite taste showcasing rare and decadent materials with sensational views and stunning light quality throughout.”

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