Industry News of the Day for October 12, 2023

Industry News

• iGB North America: Merkur Targets North America With Gaming Arts Partnership
  • Germany-headquartered games developer Merkur has entered into a strategic agreement with Gaming Arts as part of wider plans to expand into the North American market. Under the deal, Merkur and Las Vegas-based Gaming Arts will the jointly develop and supply games for North America casinos. Merkur says the partnership will support its intention to become a direct supplier within the region.

• SBC Americas: Genius Sports & Sportradar Face Lawsuit Over Streaming “Patent Infringement”
  • Panda Interactive has filed separate lawsuits against Genius Sports and Sportradar claiming that the sports tech giants infringed its patent for its “foundational interactive streaming technology”. The complaints have been filed in the US District Court for the Eastern District of Texas and claim that Genius and Sportradar have “unfairly used” Panda’s patent for the capabilities of betting and streaming simultaneously.

Illinois

• PlayIllinois: Illinois Casino Revenue Falls To $124 Million In August, Still Higher Than 2022
  • The Illinois casino market continues to grow as new casinos come online. Walker’s Bluff Casino Resort is the newest casino to report revenue to the state, and next month, Bally’s Chicago will add its revenue to the pie. Despite the growing market, August casino revenue fell to $124.4 million after shooting up to over $133.2 million in July. Even with the month-over-month slip, August saw an 8.5% year-over-year increase. YoY tax dollars from casino gambling were up just 1% in August.

Kentucky

• Legal Sports Report: Business By The Books: Caesars Spending Smartly On KY Sports Betting
  • Caesars is spending significantly less than it estimates some of its competitors have on the launch of sports betting in Kentucky. That is according to Steve Wieczynski of Stifel, who met with multiple members of management during G2E in Las Vegas. He maintained his buy rating and moved to an $80 price target based on 2025. The average cost per customer acquisition in Kentucky for Caesars has been around $100, management told Wieczynski. Some peers are spending more than $1,000 per KY sports betting customer, Caesars estimates.

Missouri

• Gaming Today: 16 Missouri Sports Betting Initiative Petitions Pending In Jefferson City
  • Missouri sports betting could make it to the polls in Nov. 2024 by way of any one of 16 initiative petitions now pending at the Secretary of State’s office in Jefferson City. Should any of the proposed initiatives make the ballot, Missouri voters would have a chance to amend the state constitution to authorize a launch of online and retail sports betting tied to Missouri’s casinos and pro sports teams no later than Dec. 1, 2025. In addition, as many as four mobile licenses (one per operator) could be issued directly to online sportsbooks — depending on the proposed amendment.

New York

• WETM: NYS Comptroller: Gambling-Related Calls To Hotline Increase As Gaming Expansion Continues
  • Mobile sports betting continues to grow in New York State. While it is contributing to the state’s revenue, the NYS Comptroller is calling attention to an increase in calls regarding gambling addiction. According to the NYS Comptroller Thomas P. DiNapoli, $727.4 million was the total of state collections from taxes on mobile sports betting in the fiscal year of 2022 to 2023. He adds that this number has continued to grow in the first quarter of the current fiscal year. The New York State Gaming Commission says from 2021 to 2022, there was a 26 percent increase in problem-related gambling calls to the Office of Addiction Services and Supports.

Pennsylvania

• PlayPennsylvania: Golden Nugget Online Casino Off To Strong Start In Pennsylvania
  • Being the new kid on the block is never easy. Golden Nugget is the latest online casino operator to enter the Pennsylvania market. It showed itself as a formidable platform in its first full month of going live. It’s also showing that, despite having 20 PA online casinos, there is an opportunity for existing operators to grow and to welcome new faces. Slot earnings generated 92.2% of online casino revenue during the Fiscal Year 2022/2023 and jumped 31% from the previous year.