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In January, the combined sports betting activities of the state\’s casinos and racetracks totaled $1.71 billion, establishing a new record

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In a month marked by unprecedented highs for New Jersey’s gambling industry, the state shattered multiple revenue records in January, signaling a robust start to 2024. However, amidst the celebration, there was a notable occurrence as traditional in-person casino earnings experienced a decline.

Internet Gambling and Sports Betting Reach Historic Highs in New Jersey

According to figures released by the New Jersey Division of Gaming Enforcement, January saw remarkable spikes across key metrics. Internet gambling revenue surged to a historic $183 million, marking a nearly 20% increase from the previous year, reported Associated Press. Sports betting also saw a monumental rise, with earnings reaching nearly $171 million, reflecting a staggering uptick of more than 136%.

While these numbers are cause for celebration, they also underscore a shifting landscape in the gambling industry. James Plousis, chairman of the New Jersey Casino Control Commission, highlighted the enduring impact of online gaming and sports wagering, emphasizing their role in providing a competitive advantage to operators, especially during traditionally slower periods like Atlantic City’s off-season.

The meteoric rise of online channels can be partly attributed to external factors such as harsher winter weather, which likely diverted brick-and-mortar activity towards digital platforms.

Jane Bokunewicz, director of the Lloyd Levenson Institute at Stockton University, noted this trend, suggesting that the surge in internet gaming and online sports betting totals could be a consequence of adverse weather conditions.

New Jersey’s In-Person Gambling Struggles Amidst Online Success

However, despite the remarkable performance in online segments, the core concern remains the decline in earnings from in-person gamblers. In January, in-person casino winnings totaled just over $205 million, reflecting a 3.1% decrease from the previous year. This downward trajectory is compounded by the fact that in-person earnings continue to lag behind pre-pandemic levels, a trend observed since early 2020.

The disparity in performance among Atlantic City’s casinos further highlights the evolving dynamics within the industry. While newer establishments like the Borgata, Hard Rock, and Ocean reported gains in in-person earnings compared to four years ago, two-thirds of the city’s casinos are still grappling with lower revenues from traditional gambling activities.

Despite these challenges, the overall outlook for New Jersey’s gambling industry remains optimistic. The state’s casinos and tracks collectively recorded $1.71 billion in sports bets in January, setting a new record and surpassing previous benchmarks. This achievement underscores New Jersey’s resilience and reaffirms its position as a leading player in the legal sports betting landscape, alongside states like New York and Nevada.

In December 2023, New Jersey’s gambling industry saw significant growth across all segments, with total gaming revenue reaching $522.2 million, marking a 14.8% increase from the previous year.

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The latest strategic agreement builds upon a strong partnership between the duo

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The leading supplier of content and technology, powering online gambling operators across the globe, Playtech, confirmed a strategic partnership with the Finnish state-owned and monopoly operator, Veikkaus. The company disclosed details regarding the new collaboration on Thursday. Under the terms of the new agreement, Playtech agreed to power Veikkaus’ offering by delivering an extensive range of customized live casino games.

The latest new deal takes the collaboration between the duo to a new level. This is because previously, Playtech agreed to supply the Finnish state-owned monopoly with its retail VLT machines, casino management system, as well as online casino and poker games. Now, Veikkaus’ offering will expand further with the addition of live casino games from Playtech.

The new partnership follows a competitive Public Procurement Process. Ultimately, Veikkaus picked Playtech as the supplier of its live casino games, recognizing the company’s quality and innovative offering.

“We are thrilled to be selected as Veikkaus’ partner for Live casino games, and this long-term partnership is a testament to the strength of our Live product and further solidifies our position as a leading supplier in the Nordic region.“

Fredrik Sylvander, commercial director at Playtech

Fredrik Sylvander, Playtech’s commercial director, revealed that the company is excited to grow Veikkaus’ offering by delivering live casino games. He explained that this new collaboration builds upon the success of the partnership between the two companies. “We are excited to support Veikkaus in their first launch of Live casino games, providing Finnish players with an exceptional gaming experience,” added Sylvander. Finally, he predicted that the new collaboration would bring unrivaled entertainment and experiences for customers of the Finnish gambling monopoly.

The Partnership Marks a Milestone Achievement for Veikkaus

The deal with Playtech is expected to strengthen Veikkaus’ offering by delivering engaging live casino games. Per the strategic deal, the iGaming content supplier will collaborate with the Finnish gambling monopoly to deliver exclusive games from a new Veikkaus-branded studio. Ultimately, the games are expected to fit the preferences of Finnish players and provide immersive, engaging and entertaining experiences.

“We are delighted to collaborate with Playtech as our partner for Live casino games, following a comprehensive public procurement process.“

Riikka Seppänen, VP iCasino at Veikkaus

The collaboration brought excitement for Veikkaus with its VP iCasino, Riikka Seppänen, explaining that the company is thrilled to join forces with Playtech for the delivery of live casino games. The VP iCasino said that the deal represents an important achievement for Veikkaus as it marks the first time live casino games will become available for its players. Finally, Seppänen predicted the new partnership will bring exciting experiences, adding that it underlines Veikkaus’ dedication to supplying the best games for its growing customer base.

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Online gaming has emerged as a substantial contributor, representing approximately 24.7% of the total commercial gaming revenue in 2023

The commercial gaming industry in the United States has experienced a remarkable surge in revenue, marking its third consecutive year of record-breaking financial success. According to the latest report from the American Gaming Association (AGA), the industry’s annual revenue reached an unprecedented $66.5 billion in 2023, surpassing the previous year’s high by a substantial margin.

AGA CEO Bill Miller Applauds Milestone Growth

The remarkable growth was highlighted by a record-breaking fourth quarter in 2023, with revenues soaring to $17.4 billion, further solidifying the industry’s position as a key contributor to the nation’s economy. December alone witnessed an astonishing $6.2 billion in revenue, marking the highest-grossing month in the history of the industry.

AGA President and CEO, Bill Miller, attributed this phenomenal success to the burgeoning demand for gaming among American adults. Miller emphasized that the industry’s ability to sustain this momentum would require collaborative efforts to combat illegal operators while simultaneously promoting responsible gambling initiatives. He stressed the AGA’s commitment to leading these efforts throughout 2024.

The evolution of the commercial gaming landscape was evident in the report, with online gaming emerging as a significant contributor, accounting for nearly a quarter or 24.7% of total commercial gaming revenue in 2023, reaching a new annual high.

Gaming Revenue Booms Across Traditional Gambling, Sports Betting, and iGaming

Across multiple sectors, significant growth was evident. In traditional gaming, revenue from brick-and-mortar casinos surged to $49.4 billion, with a notable 19 out of 27 markets achieving record annual revenue.

The sports betting sector experienced remarkable expansion, as total wagers peaked at $119.8 billion and revenue reached $10.9 billion, fueled by maturation in existing markets and entry into new territories like Massachusetts and Ohio.

Meanwhile, iGaming saw a substantial uptick, with online casino revenue jumping by 22.9% to $6.2 billion in states with fully legalized online gaming.

The report also highlighted the geographic distribution of gaming revenue, with notable growth observed in various markets. The Las Vegas Strip emerged as the top-performing market, followed by New Jersey, Chicago metropolitan area, and the Mississippi Gulf Coast.

Furthermore, the commercial gaming industry’s contributions to state and local governments reached unprecedented levels in 2023, with operators paying an estimated $14.4 billion in direct gaming revenue taxes—an increase of 9.7% compared to the previous year.

This influx of revenue plays a vital role in supporting critical public services, infrastructure projects, and education programs across the country.As the industry continues to thrive, Miller emphasized its role as an economic driver, creating jobs and providing essential funding for communities nationwide.

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Despite that, the company is bullish on seeing its hotel megaproject through

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Casino and hospitality giant MGM Resorts is giving up on its plans for a Dubai casino, at least for now. Despite that, the company is bullish on seeing its resort megaproject through, with or without a casino.

For reference, MGM’s plan for The Island is to construct a three-hotel complex, combining an Aria, an MGM and a Bellagio hotel into a huge 1,400-room property. The company has been working on this for several years now, although progress has been slow. It wasn’t until November 2023 that local project developer Wasl issued a $1.2 billion contract to China to build the resort.

The Island will cost some $2.5 billion to construct and will become a premier hospitality destination.

Dubai Did Not Legalize Gaming as MGM Had Hoped

The reason why MGM Resorts is giving up on its casino project, at least for now, is the United Arab Emirates’ cultural opposition to gambling as a whole. While many believe that at least some emirates will eventually mellow down and permit some forms of real-money games, Dubai remains reluctant to greenlight casino gaming.

Bill Hornbuckle, MGM’s president and chief executive officer, had teased in 2023 that there are some possibilities of gaming getting legalized in Dubai or Abu Dhabi. As a result, he said that The Island will have 200,000 square feet of space set aside for a luxurious casino. In another conference call, he suggested that MGM might operate as many as four casinos in the Emirates in the near future.

However, Hornbuckle’s prediction did not come true and Dubai did not permit gaming. Despite that, the CEO is still optimistic about The Island’s future.

Obviously, we have Dubai. We have our project there, which is an amazing project. It’s going to be over a $2.5 billion project without a casino in it.

Bill Hornbuckle, president & CEO, MGM Resorts

The future of gaming in the UAE remains murky but MGM Resorts is likely to try Abu Dhabi next. The company has been eyeing Yas Island for a while, considering a potential property there.

While Hornbuckle believes that Abu Dhabi or Dubai would be the first to allow gaming, competitor Wynn Resorts has placed its bets behind Ras Al Khaimah.

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The Star is bullish on reacquiring NSW’s trust in the wake of the recent regulatory failings

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The Star Entertainment Group announced that it has formalized the previously announced aspects of the arrangements agreed in principle with the NSW Treasurer, Daniel Mookhey, securing the company’s jobs commitment and cashless trial.

In line with the initial agreement from August 11, 2023, The Star entered into a Jobs Guarantee Agreement with the state of New South Wales and the United Workers Union. As a result, the casino giant agreed to maintain a minimum headcount and certain ratios of full-time, part-time and casual employees at its The Star Sydney casino.

The job guarantee is valid until June 30, 2030, the company added. It also mentioned that the commitment is still subject to certain permitted adjustments in specific circumstances.

As per the newest additions to the Casino Control Act 1992 (NSW), The Star risks penalties if it fails to comply with the jobs commitment it agreed to.

In the meantime, The Star also officialized a formal trial of cashless and carded play at its The Star Sydney property. This trial comes as New South Wales seeks to modernize its gambling industry and prevent gambling-related fraud.

Cashless gaming and carded play will be trialed at NSW casinos from August 2024, allowing the state to see whether they have the intended effect.

The Star Sydney, for example, seeks to allow its guests to play cashless on 51 poker machines and 8 gaming tables within its Sovereign Room.

The Star Seeks to Regain the Community’s Trust

The Star’s group chief executive officer and managing director, Robbie Cooke, commented on the formalization of the aforementioned agreements labeling the engagement with the NSW Government as very constructive. He added that The Star is happy to have reached these arrangements and be able to provide security to its team in Sydney.

According to Cooke, The Star is bullish on reacquiring NSW’s trust in the wake of the recent regulatory failings.

As we continue to focus on earning back the trust of the Page 2 of 2 community and implementing the reforms required to restore The Star to suitability, we are also committed to the continuation of our role as a valuable contributor to the NSW economy.

Robbie Cooke, group CEO & MD, The Star

Three weeks ago, The Star also introduced new regulations to prevent excessive gambling. Effective as of January 31, the new rules include a mandatory 15-minute break every three hours and a limit of 28 hours of gaming per week. Players will also be unable to play more than 12 hours a day.

The introduction of the new rules followed an AUD 100 million fine in Queensland.

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The new rules apply to casinos engaging with independent agents and seek to reduce the regulatory burden for the operators

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Across the globe, gambling operators enter into arrangements with individuals who help them bring high rollers to their casino floors. Companies that offer such activities are known as junket operators across Asia. In the United States, people who help bring high rollers to casinos are known as independent agents. It’s not a surprise that licensed gambling operators in Las Vegas, the gambling capital of the world, engage with independent agents who help them boost their business.

Usually, independent agents have ties with rich individuals and have access to incentives for their customers. Unsurprisingly, independent agents usually earn commissions based on individual clients they refer to casinos. Some agents work with multiple casino operators, in an effort to ensure the best experiences for their big-spending customers.

Now, a new report reveals that the gambling watchdog in Nevada approved changes to the regulatory framework for registered independent agents in the state. As announced by the Las Vegas Review-Journal, the Nevada Gaming Commission (NGC) greenlighted changes to Regulation 25 for independent agents that help bring high-roller customers to the state’s casino operators.

Previously, gambling operators had to submit mandatory quarterly reports revealing financial data regarding the independent agents they collaborate with. This requirement was later changed to annual reporting, before the most recent change. Under the new rules, licensed gambling operators would have to hold records for the activities of independent agents rather than submitting reports.

Per the change, licensees would have to be able to present the recorded data for the independent agents they work with. They will be required to keep such a record for a period of five years and present it in case of an inspection by the state’s gambling regulator.

Reducing the Regulatory Burden for Gambling Operators

The approved change effectively seeks to reduce the paperwork gambling operators are required to go through every year. Still, licensees would be required to keep on file information such as when they entered into a contract with an independent agent, when that contract end and how much was the agent paid.

According to Diane Presson, a supervisor with the NGC, there are more than 300 independent agents that are collaborating with casinos across Nevada. She added that some of those agents have active business-to-business relationships with multiple resorts at the same time. Finally, Presson pointed out that while the Commission will retain monitoring of the activities of independent agents, it has decided to leave this “at the property level” rather than requiring the operators to report those activities annually.

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The repairs are expected to improve tourism and also bolster the business of Atlantic City’ casinos

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New Jersey Governor Phil Murphy decided to provide Atlantic City with a $20 million grant. The funding is part of a $100 million initiative that will allow local municipalities to restore their boardwalks.

The money is a leftover from the American Rescue Plan and will see New Jersey take care of its signature boardwalks. Originally designed to prevent sand from getting inside nearby hotels, these boardwalks are now beloved tourist attractions.

The Atlantic City Boardwalk in particular is a historic promenade that is believed to be the oldest one in America. Spanning some 5.5 miles, it is also one of the largest boardwalks in the world. The repairs are expected to improve tourism and also bolster local casinos’ business.

The $20 million grant will allow Atlantic City to take care of deteriorating parts of the boardwalk. The repairs will see old decking and pilings replaced with better materials that will allow the structure to last longer.

Governor Murphy added that many locals have cherished memories at the boardwalks of the Jersey shore, which is why they’ve become a prized destination. He hopes to keep them that way by allowing communities to repair and maintain these wooden main streets.

The grant awards announced today are a meaningful step in preserving the health and dynamism of these special places.

Governor Phil MurphyThe AC Boardwalk Is a Lifeline for Local Casinos

The boardwalk is not only an important cultural asset but also an important economic driver, according to Jacquelyn Suárez, the acting commissioner of the New Jersey Department of Community Affairs.

The boardwalks are also very important to six of Atlantic City’s nine casinos since guests usually use the pathway to access nearby resorts. As a result, keeping these wooden streets in good condition is important to the city’s flourishing gambling industry.

For reference, the casinos dependent on the boardwalks include Bally’s, Caesars, Hard Rock, Ocean Casino, Resorts Casino Hotel and Tropicana.

Speaking of AC’s casinos, the state continues to discuss whether the loophole that allows them to dedicate a part of their indoor space as a smoking area should be patched. While casino companies are concerned about potential losses, casino workers fear that the unhealthy environment is jeopardizing their lives.

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Customers in the Wolverine State can now enjoy quality online casino games and a wide range of sports betting options

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Fanatics Holdings, the global digital sports platform, announced that its subsidiary, Fanatics Betting and Gaming, the leading betting and gaming platform, rolled out Fanatics Sportsbook and Casino in Michigan. The launch, completed on Thursday, enabled residents and visitors of the state to download Fanatics Sportsbook for Android and iOS devices and engage in exciting online gaming and betting activities.

The latest launch represents the thirteenth state where Fanatics Sportsbook is available. On the other hand, the launch in Michigan further grows Fanatics’ presence within the online gambling sector and marks the third state where Fanatics Casino is available.

The latest launch follows a process initiated by Fanatics Betting and Gaming last year. At the time, the company agreed to acquire the US assets of PointsBet, paving the way for its expansion across the country. As a result of the acquisition, PointsBet’s customers in Michigan had their username, password, as well as account balance and rewards points transferred automatically to Fanatics Sportsbook. The migrated customers also retained their responsible gaming preferences, ensuring responsible entertainment.

The transfer of responsible gaming preferences underlines Fanatics’ dedication to responsible gambling. As a leading and fast-growing operator, the company encourages customers to use responsible gaming tools that enable them to manage their gambling. Moreover, Fanatics offers a best-in-class Help Center that provides chat support with agents ensuring 24/7 coverage.

Players in Michigan Can Access Engaging Features

Thanks to the latest launch, Michigan sports fans and casino aficionados can now tap into Fanatics’ leading betting and iGaming application. The high-quality mobile application features a convenient design, easy navigation and stands out with engaging and rewarding features.

Players in Michigan can benefit from FanCash, Fanatics Sportsbook’s reward system that allows them to earn up to 5% on their wagers in the form of FanCash. Such FanCash can then be exchanged for bonus bets or different merchandise via the operator’s official website.

Further quality features available via Fanatics’ app include Discover and Search. Thanks to the Discover feed, bettors gain access to valuable insights, including trending bets, statistics and marquee games. Additionally, the application’s innovative Search functionality brings autocomplete options, as well as search via deep linking and aliases.

On the other hand, Fanatics Casino players can access quality features and enjoy classic casino slots, video poker and table games. Teaming up with Evolution, Fanatics Casino brings popular live casino games such as Roulette, Baccarat, Poker and Blackjack, among others. iGaming fans can also tap into quality releases from Light & Wonder, Gaming Realms and Hacksaw Gaming, among other leading content suppliers. Similarly, to wagering on sports, online gamblers can earn FanCash and convert it to different rewards.

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Vivek Malek, a Republican nominee running for re-election, upheld his stance in a letter to Rep. Scott Cupps, highlighting the decals function as a means to raise awareness about the state\’s unclaimed property program

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Missouri State Treasurer Vivek Malek has reinforced his stance regarding the presence of his name on decals affixed to unregulated slot machines distributed by Torch Electronics, a company with strong political ties.

Slot Machine Decals Promote State’s Unclaimed Property Program

Despite criticism and calls for removal from some quarters, Missouri Treasurer Vivek Malek remains resolute in his decision not to remove the decals, asserting that no taxpayer funds were used in their creation.

Malek, a Republican appointee seeking re-election, defended his position in a letter to Rep. Scott Cupps, emphasizing that the decals serve to promote the state’s unclaimed property program, without any intent to endorse or regulate gambling machines, reported the St. Louis Post-Dispatch.

Cupps, who raised concerns about the potential misperception among players, sought further discussion on the matter, but Malek declined, citing prior commitments.

The controversy stems from the widespread distribution of Torch-operated gambling machines in gas stations and bars across Missouri. While Malek maintains that these machines operate within legal bounds, critics argue otherwise, pushing for legislative action to declare the unregulated market illegal.

Malek, however, refrains from preempting judicial intervention, suggesting that the courts should decide on the matter.

Torch Electronics’ Legal Struggles Cast Shadow Over Missouri’s Political Landscape

Malek’s steadfast stance comes amidst his bid for the GOP nomination in the upcoming primary elections, facing opposition from notable figures within the party.

Meanwhile, Torch Electronics, headquartered in Wildwood, has faced legal challenges in its endeavor to prevent investigations into the legality of its operations by the Missouri Highway Patrol.

Moreover, the company’s political connections have come under scrutiny, with revelations of contributions to political action committees associated with former House Speaker Steve Tilley. These contributions, including support for Attorney General Andrew Bailey, have raised concerns about conflicts of interest, particularly in legal matters concerning the company.

Last year, Missouri Attorney General Andrew Bailey withdrew from a lawsuit against the state concerning the regulation of unregulated slot machines after lobbying efforts from Torch Electronics and Warrenton Oil, who provided campaign contributions to a political action committee supporting Bailey.

Despite efforts to regulate and tax these gambling machines, legislative measures have fallen short, leaving municipalities like Springfield to implement local ordinances banning their presence. The issue underscores broader challenges in reconciling regulatory frameworks with evolving forms of gambling in the digital age.

As the debate continues, Malek’s decision to maintain the decals on these machines reflects not only his commitment to promoting the state’s programs but also the complexities surrounding the intersection of politics, gambling, and regulation in Missouri.

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A new proposal in the state seeks to clarify the regulations for casino operators looking into investments within the state\’s Tidelands

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Coastal casino sites in Mississippi are once again in the sights of lawmakers, after a recent controversial project approval. RW Development, a company planning to build a casino on US 90 and Veterans Avenue in Biloxi, Mississippi, has been trying to secure approval from the gambling regulator in the state, the Mississippi Gaming Commission, for years.

After three unsuccessful attempts, RW Development secured site approval from the Commission in December. This was achieved after the company was allowed to build a pier at the end of Veterans Avenue. This strategic move enabled the company to secure the site approval from the gambling regulator. But the controversial approval captured the attention of lawmakers in the state, who filed a new bill that seeks to clear any inconsistencies and concerns in case other casino operators are interested in securing sites near the waterfront.

As announced by Sun Herald, the state’s legislators are currently reviewing a bill that seeks to clarify and change different provisions, ensuring clear rules are set for casinos interested in investments related to the state’s tidelands. Ultimately, the proposal seeks to outline a specific framework for the gambling regulator in cases similar to the recently approved license for RW Developments.

The proposal reiterates the currently established rules for casino projects on the state’s tidelands that require a minimum of 40,000 square feet of casino gaming space, along with restaurants and a minimum of 300 hotel rooms. Moreover, under the existing laws in Mississippi, such casino projects must boost the local economy and tourism as well.

Consistent Regulations to Protect the Environment, Encourage Investments

Under the proposal, SB 2780, Mississippi lawmakers seek to set clear lines when it comes to the authority of the state over Public Trust Tidelands. The proposal seeks to make it mandatory for casino licensees interested in tidelands projects to secure a tidelands lease via the secretary of state. Such licenses can also be subject to rent payable on an annual basis. The bill also seeks to clarify rules for cases related to Tidelands casino licenses that would not require annual rent.

The proposed bill is sponsored by the Senate Gaming Committee’s chairman, Sen. David Blount. “I am working with the Secretary of State’s office and every Coast casino operator on the bill,” he explained in a recent interview for Sun Herald. Additionally, Blount pointed out: “Now more than ever, we need to restore a consistent regulatory environment to preserve the sand beach and encourage further investment and improvements in the Coast casino market.”

Besides Sen. Blount, SB 2780 is sponsored by the Gaming Committee’s members, Jeremy England and Bryce Wiggins, along with Senators Philman Ladner and Mike Thompson.

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