Gambling Clear News
Massachusetts recorded $71.1m (£56.5m/€66m) in taxable sports betting revenue for January, smashing the previous record of $61m. Massachusetts’ January revenue was a remarkable 17% increase on the previous highest month, set back in May 2023. Handle fell just 1.1% short of December’s $658.7m record, still accumulating $651.7m in what was another strong month for Massachusetts’
Svenska Spel has lost its appeal against Aktiebolaget Trav och Galopp (ATG) over the use of the phrase “Trav och Galopp” in a new racing product. Svenska Spel’s use of the phrase, which translates to “trot and gallop” in English, was considered by the Patent and Market Court of Appeal to be an infringement on
A study on New Jersey’s gambling market has judged the igaming industry to be “detrimental” for the state’s economy, despite its strong tax contributions. The research was carried out by the National Economic Research Associates (NERA). It was previously commissioned by the Campaign for Fairer Gambling (CFG). Online gaming has been legal in New Jersey
Fitch Ratings has altered its outlook on SJM Holdings from “negative” to “stable”, expecting the company to turn free cash flow (FCF) positive in 2024. The positive FCF should help SJM to expand, while also “driving a reduction in debt balance”. Fitch is projecting SJM to reach HK$6.6bn (£664.5m/€770.9m/US$845.3m) in EBITDA by 2026. The agency
Macau reported another strong month for its gambling sector as monthly gross income reached MOP$18.6bn (£1.8bn/€2.1bn/$2.3bn) in December, a 433% increase year-on-year. While gross gambling income in December was also 15.7% higher in Macau than the MOP$16bn recorded in November, it fell short of the MOP$19.5bn accumulated in October. December was no doubt another strong
Gross gambling revenue (GGR) in Spain increased by 23.6% year-on-year to €304.3m (£261.2m/€332.3m) in Q3, though this was lower than the second quarter. The figure was comfortably ahead of €240.8m in Q3 last year. However, the total fell 2.7% short of the €312.6m generated in revenue in Spain during Q2 of this year. Breaking down the Q3
Online gambling will continue to be prohibited in Liechtenstein until 2028 after the government extended its ban. Gambling was legalised in Liechtenstein in 2010. However, the inability for online operators to gain a licence means online gambling is unavailable in the country. This fresh extension on processing of online gambling licence applications will run until
The Singapore Gambling Regulatory Authority (GRA) has fined Resorts World Sentosa (RWS) a total of S$2.3m (£1.3m/€1.6m/US$1.7m) for failing to perform customer due diligence checks. The GRA said Resorts World Sentosa breached several Singapore laws by not carrying out the required checks. These include the Casino Control Act 2006 and the Casino Control (Prevention of Money
Fitch Ratings forecasts global gaming outlook for 2024 as “neutral”, citing pullback in certain US markets and potential stagnation in Europe. A new report from Fitch Ratings forecasts the global gaming outlook for 2024 as “neutral”. It is the second straight year Fitch has selected a “neutral” view for its gaming outlook. Fitch cited “slight
Gambling revenue in the Macau market rocketed by 435.0% year-on-year to MOP$16.04bn (£1.56bn/€1.83bn/US$2.00bn) in November, the fourth highest monthly total so far in 2023. The figure was some way ahead of MOP$3.00bn in November of last year but 17.7% behind $19.50bn in October 2023. However, October’s total was the highest monthly amount in Macau since before
