US Casinos

Michigan Online Casino v Online Sports Betting – Which Is Performing Best?

February 22, 2024 William Mcmaster

Michigan now has a clean slate when it comes to online gaming and sports betting, thanks to the state’s recent introduction of internet gaming. Michigan hopes to measure up against the competition, even though a few other states have been in the business for a long time. Michigan is tasked to live up to the players’ expectations and to bring Michigan’s online gambling market to a level that equates to that in other US states.

Thanks to a decline of the sports calendar in April, Michigan was among the first US states to see the first month-over-month drop-in sports betting revenue since introducing online sports betting earlier this year. Michigan is now a haven for online casinos.

The region’s online casinos and poker rooms did well in April, taking in $94.9 million, a slight decrease from March’s $95.1 million. For March, revenue per day rose to $3.16 million per day, up from $3.07 million a day in February (Michigan Gaming Control Board, 2021).

Michigan Sports Betting Lags Behind Casino

Michigan sportsbooks admitted $249.9 million in online handle in April, down 30.5 percent from $359.5 million in March, owing to a heavy reliance on regular-season baseball and NBA games to produce a play.

Michigan’s online and offline sportsbooks raised $274.2 million in bets, 91.1 percent of which were placed online when combined with the state’s $24.2 million retail handles, which were released last week. The total handle was down 28.5 percent from March’s $383.7 million in bets (Mitech News, 2021).

Michigan will remain in fifth place in the United States, behind New Jersey, Nevada, Pennsylvania, and Illinois, based on the overall handle. However, from the start of online sports betting on January 21 to April 30, Michigan was the first state to cross $1 billion in online wagers, with $1.03 billion (Jordyn Grzelewski , 2021).

Michigan’s sales in April should keep it close to Pennsylvania and New Jersey, the country’s two largest iGaming markets, but none of those states has yet posted April results. The most significant distinction is the maturity level of the states.

The Michigan Gaming Control Board established regulations that enable players to open online gaming accounts without visiting a land-based casino. This ease of access to Michigan’s iGaming services is critical in the state’s huge industry. This is why Michigan is ahead of states such as Illinois, which require a visit to a casino in person.

Michigan Casino & Sports Betting FAQ

What age do you have to be to gamble in Michigan?

To lawfully bet in Michigan, you must be at least 21 years old.

Should I join a Michigan casino’s loyalty program?

Yes, especially since loyalty programs are free to join. They were created to give you the best experience.

References

Jordyn Grzelewski (2021). Michigan’s internet betting revenue takes off. https://www.detroitnews.com/story/business/2021/04/20/online-bettors-wager-hundreds-millions-michigan-march-madness/7300125002/
Michigan Gaming Control Board (2021). Revenues and Wagering Tax Information. https://www.michigan.gov/mgcb/0,4620,7-351-79127_82898-244408–,00.html
Mitech News (2021). Michigan Online Gaming Revenue Gains Momentum. https://mitechnews.com/internet-technologies/michigan-online-gaming-revenue-gains-momentum/

What You Need To Know About Online Gambling in Delaware

February 22, 2024 William Mcmaster

Gambling in Delaware has been approved by the Supreme Court which makes it legal. There are various gambling platforms that you can participate in, but the two major ones are casino gaming and sports betting. When it comes to online gambling laws, Delaware is the most liberal state in the United States (Real Money Action, 2021).

Delaware was the first state to allow online gambling in the US. The state legislature of Delaware adopted the online gambling framework in 2012, even though the legislation properly took effect in 2013. This framework was adopted for all legal-age players in the state. This regulation was welcomed by all online gamblers because the regulation also allows a variety of online casino games like roulette, video poker, blackjack, amongst others.

How to Gamble Legally in Delaware

Delaware was also the first state to use the decision taken by the Supreme Court in 2018 to its advantage. The court decision ended the prohibition of federal sports betting which makes it legal in the state. Concerning the United States, Delaware is regarded as one of the best states to participate in online sports betting. This is because it has some great features that are beneficial to casino games and sports bettors.

But there is one important fact to note about online gambling in Delaware…

For you to be able to partake in legalized online gambling activities in Delaware, you must be 21 years or older.

Delaware has a legal online casino that they regulate; but for an online casino to operate lawfully, it must be connected to a physical casino property within the state. There are only three casinos in Delaware that offer full-service wagering Delaware. They are Dover Downs Hotel & Casino Race & Sportsbook, Delaware Park, and Harrington Raceway & Casino Murphy Race Sportsbar & Grill (Delottery, 2021).

As an online gambler, you can choose to play at a casino based offshore, as far as Delaware is concerned. This is because there is no recognized penalty in the law for unauthorized online gambling. But there are penalties in the law available for online casinos not regulated by the state. You can also gamble on almost any sport that is played in any of these three casinos. Delaware, along with some other states were granted partial exemption from the federal ban on online sports gambling and betting that began in 1992. The other states were Montana, Nevada, and Oregon (WSN, 2021). The ban was called the Professional and Amateur Sports Protection Act (abbreviated as PASPA), but it ended in May 2018. The repealing of PASPA made Delaware be able to immediately pass a bill to allow legal betting on individual games and parlays.

Future of Online Gambling in Delaware

Delaware has been regarded as a state having a progressive attitude towards gambling especially given the legal steps they have taken. With this, the future of gambling in Delaware is certainly very bright. Delaware was not only the first state to legalize sports betting after the repeal of PASPA, but the progressive congress was the first to push for legal gambling (WSN, 2021).

Next for Delaware is to introduce online sports betting options. This is a big step as gamblers will not need to go to the land-based centers in Delaware to place bets.

Delaware Legal Gambling FAQ

What is the legal payout percentage in Delaware?

Delaware has a legal payout percentage (RTP) that ranges between 87% and 95% on online casino games

Who regulates online gambling in Delaware?

The Delaware Lottery is in charge of regulating online gambling in Delaware. The Lottery is overseen by the Division of Gaming Enforcement.

References

Delaware Gambling (2021). Guidelines to online and offline gambling. https://www.delawaregambling.info/
Delaware General Assembly (2021). https://legis.delaware.gov/SessionLaws/Chapter?id=17349

What Are Penn National Gaming (Png) And Why Should You Know About Them?

February 22, 2024 William Mcmaster

Penn National Gaming (abbreviated as PNG) is a fast-rising gaming company in the United States. Recently, PNG has achieved some remarkable feats for itself. First, PNG established a content studio called Penn Game Studios. This is a studio consisting of in-house content development individuals.

This team is focused on creating iGaming content that is exclusive to its customers. This achievement has also moved PNG to purchase HitPoint Studios and its sister real money gaming company called LuckyPoint. These studios are expected to close in the near term, subject to their customers being satisfied with the conditions (Casino Beats, 2021).

They stated that the reason for acquiring the Massachusetts-based gaming studio is to draw customers to their exclusive online games thereby boosting brand loyalty (Rose, 2021). With this acquisition, the shares of PNG increased by 1.51% totaling $90.47 as of the 3^rd of May, 2021 (Market Watch, 2021).

This is a piece of great news to online gamers in the United States. But for those people who are still contemplating on whether to join this emerging company because they are unsure of their credibility, let me tell you about PNG…

About Penn National Gaming

Penn National Gaming Inc. is a gaming company that owns and manages racing and gaming facilities. They also manage video gaming terminal operations focusing on slot machine entertainment (Forbes, 2021). They have ownership interests in 41 gaming and racing properties present in 19 states.

Some of the states where PNG properties are located are Illinois, Colorado, Iowa, Indiana, Mississippi, Michigan, West Virginia, and Pennsylvania. Their operations involve different business segments. They are the Northeast, Midwest, South, and West. These segments consist of various properties scattered across the United States.

The PNG headquarters is based in Wyomissing, Pennsylvania. Their operation is done in over 43 facilities around the United States and Canada, but many of them are within the brand Hollywood Casino. In November 2013, Penn National Gaming established a sister company called Gaming and Leisure Properties.

PNG’s Stake on Barstool Sports

Penn National Gaming manages and controls a 36% stake in a company called Barstool Sports. Barstool Sports is a leading digital sport, lifestyle, entertainment, and media company. This was done in the year 2020.

PNG also officially launched the Barstool Sportsbook app and products in the cities of Pennsylvania, Illinois, and Michigan. This launching enables PNG to leverage the Barstool brand and marketing engine thereby driving a meaningful market share (pngaming, 2021).

PNG also introduced the Barstool Sports products across their leading customer loyalty program called mychoice. At the moment, they have over 20 million casino customers and Barstool loyal fans of over 66 million people. PNG has continued to be dynamic in its strategy. It changes from having an owner and manager of racing and gaming properties to becoming an omnichannel provider of retail and online gaming, sports betting entertainment, and live racing.

Conclusion

PNG has continued to grow and expand over the years, they have varieties of properties across the United States totaling about 48,000 gaming machines, 8,800 hotel rooms, and 1,300 table games. Also, PNG operates an interactive and entertaining gaming division across its various subsidiaries.

Penn Interactive Ventures, LLC, which is a subsidiary of PNG, launched a casino called iCasino in Michigan and Pennsylvania. They also own and operate online sports betting in the cities of West Virginia, Indiana, Iowa, and Pennsylvania (pngaming, 2021).

Penn National Gaming

What is the net revenue of PNG?

As of 2017, PNG records a revenue of about $3.1 billion (pngaming, 2021).

What is the market capitalization of PNG?

According to Forbes, PNG currently has a market capitalization of about $14.31 billion (Forbes, 2021).

References

Pngaming (2021). Penn National Gaming Inc. About Penn National Gaming, Inc.
About Us | Penn National Gaming (pngaming.com)
Market Watch (2021). Penn National Gaming Inc. stock rises Monday, outperforms the market. Market Watch Automation. 3^rd May 2021.
www.marketwatch.com
Casino Beats (2021). PNG acquires HitPoint Studios & LuckyPoint amid in-house focus. 4^th May 2021.
https://www.casinobeats.com/2021/05/04/png-acquires-hitpoint-studios-luckypoint-amid-in-house-focus/
Forbes (2021). Penn National Gaming (PENN). 5^th May 2021.
https://www.forbes.com/companies/penn-national-gaming/?sh=163f08f77c8d
Rose (2021). The Business Journals. Penn National to launch new Barstool Sports products after acquiring a game developer. 3^rd May 2021. https://www.bizjournals.com/philadelphia/news/2021/05/03/penn-national-gaming-acquires-dev-in-house-studio.html

Caesars Entertainment Acquires William Hill Plc For A Whooping £2.9 Billion

February 22, 2024 William Mcmaster

Caesars Entertainment has made a big statement in the US casino and sports betting industry. They have done this by completing the acquisition of William Hill Plc for money valued at £2.9 billion (equivalent to about $4 billion) (Barber, 2021). This is a big statement because Caesars Entertainment has acquired one of the world’s leading betting and gambling companies in the US. This also gives them the ability to maximize the opportunity present within sports betting and online gaming in the United States. You have to be excited if you are an online gamer!

Reason for the Acquisition

Caesars Entertainment came out with a statement claiming that the reason for the acquisition is to bind its casinos ever closer to the fast-growing legal sports betting in the United States (Parry, 2020). They also indicated that they were interested in the company’s U.S. assets, and admitted that it would sell off William Hill’s assets in the United Kingdom and other countries. They announced that they would purchase all the shares of William Hill totalling about 1.08 billion and the shares would be sold at £2.72 apiece (Fletcher, 2021).

The CEO’s Statement

The statement was announced by the CEO of Caesars Entertainment named Tom Regg. He stated “The opportunity to combine our land-based casinos, sports betting, and online gaming in the US is truly an exciting prospect. We look forward to announcing future sports partnerships that will drive growth on a long-term basis”. He continued by saying “William Hill’s sports betting expertise will complement Caesars’ current offering, enabling the combined group to better serve our customers in the fast-growing US sports betting and online market” (Parry, 2020).

The Chairman’s Statement

The chairman of William Hill, Roger Devlin, also came out with a statement to confirm the deal. He said in a statement “The William Hill board believes this is the best option for William Hill at an attractive price for the shareholders. The board recognizes the significant progress the William Hill Group has made over the last 18 months, and also the risks and significant investment required to maximize the US opportunity given the tough competition in the US betting industry and the potential for regulatory disruption in the UK and Europe”. (Parry, 2020) (Barber, 2021).

Regulations

Both Caesars Entertainment Inc. and William Hill Plc currently operate sports betting in 18 jurisdictions across the United States. Of these 18 states, 13 offer mobile sports betting. The new company is expected to be operational across 20 jurisdictions in the US by the end of 2021 (CISION PR Newswire, 2021).

Impact of this transactional deal on the casino and online betting industry

This deal will not affect how bettors will be able to place bets or what type of bet is offered. But, the deal will lead to the expansion of the brand which allows more online betting sites to emerge in States where online wagering is legalized by the Government.

This transactional deal will provide a positive impact on the US betting and gaming industry. This is because Caesars Entertainment Inc. will further expand the reach of Caesars Rewards. They will do this by providing William Hill members access to Caesars’s industry-leading loyalty program. This will include the ability to earn tier status that will be used at the Company’s online and land-based properties.

This transactional deal will also enable the company to further enhance its services to customers by providing a single-wallet offering of sports betting and online gaming products across the enterprise in the future (CISION PR Newswire, 2021).

About Caesars Entertainment Inc.

Caesars Entertainment Inc. (also known as NASDAQ: CZR or ‘Caesars’ of the company) is regarded as one of the largest casino entertainment companies present in the United States. It is also one of the world’s most diversified gaming entertainment providers. Its inception was in the year 1937 in the city of Reno (Nevada). Over the years, Caesars Entertainment has grown through the development of new expansions, resorts, and acquisitions.

Caesars Entertainment’s resorts operate primarily under different trademarked brand names. Some of them are Caesars®, Horseshoe®, Harrah®, and Eldorado®. They also offer diversified amenities each having unique destinations. These amenities are established with a focus to build loyalty and value with their guests through a unique combination of operational excellence, impeccable service, and technology leadership. Caesar Entertainment Inc. always shows commitment to its suppliers, employees, communities, and the environment through a framework. This framework is called the People Planet Play.

Caesars Entertainment Acquires William Hill Plc FAQ

Who were the law firms that represented both companies in the transactional deal?

Caesars Entertainment was represented by Deutsche Bank, Linklaters LLP, and Latham & Watkins; while William Hill was represented by Barclays Bank PLC, Slaughter & May, PJT Partners, and Citigroup Global Markets Limited (CISION PR Newswire, 2021).

Was there any other firm also interested in acquiring William Hill Plc?

Answer: Yes, a private equity firm called Apollo Global Management Inc. showed interest in acquiring William Hill. But it remains to be seen if they would acquire part of their European asset (Parry, 2020).

References

Parry Wayne (2020). Caesars entertainment buys bookmaker William Hill for $3.7 billion. AP News. 30 September 2020. https://apnews.com/article/atlantic-city-archive-united-kingdom-sports-betting-c0eea070009b7628c5d142ccae563770
Fletcher Robert (2021). Caesars completes the £2.9 billion acquisition of William Hill. iGaming Business iGB. 22^nd April 2021. https://igamingbusiness.com/caesars-completes-2-9bn-acquisition-of-william-hill/
CISION PR Newswire (2021). Caesars Entertainment Announces Completion of William Hill PLC Acquisition. Caesars Entertainment. 22^nd April 2021. https://www.prnewswire.com/news-releases/caesars-entertainment-announces-completion-of-william-hill-plc-acquisition-301274863.html
Barber Bill (2021). Court clears William Hill’s £2.9 billion takeovers by US casino giant Caesars. Racing Post. 20^th April 2021. https://www.racingpost.com/news/court-clears-william-hills-29-billion-takeover-by-us-casino-giant-caesars/485493

UK Giant Super Group is Aiming for the US iGaming Market

February 22, 2024 William Mcmaster

Super Group, which is the parent company of online bookmaker, Betway is finally breaking into the US market. The UK-based group announced this after completing a merger with a blank-check acquisition firm called Sports Entertainment Acquisition Corp (SEAH.N) (Wrex, 2021). This merger is valued at a whopping deal of about $5 billion. This is a lot of money being invested into the US market.

Asides from this, Betway also announced that it had acquired Digital Gaming Corp, tapping the online sports betting and gaming market in 10 states of the US. This is a piece of great news to betters residing in the Sports Entertainment Acquisition Corp United States as Betway is one of the most renowned betting companies in Europe. Also, it will have a great impact on the US market because of the popularity and ambitions it will bring along.

About Super Group (Betway)

In case you have not heard about Super Group, let me introduce them to you…

Super Group is a holding company that has several gambling brands (including Betway). They own both online casino brands and sports betting brands. And in terms of the license, the group is licensed in 23 jurisdictions around the world. They are also operating in over 20 countries including the likes of Brazil, South Africa, Nigeria, UK, amongst others (Allen, 2021).

In terms of monetary value, the Super Group brand is one of the biggest brands bringing in enormous revenues every year. So, you should rest assured that they are bringing all this money to the US market. This year, Super Group has projected a revenue of about $1.5 billion with $350 million in EBITDA. They also affirmed that they took in more than $42 billion in wages over the past 12 months. That is a lot of money! They also boast over 2.5 million monthly unique active customers.

Betway which is under Super Group has more than 60 brand partnerships with leagues, teams, and sports personalities. Some notable ones are two basketball teams playing in the NBA which are Los Angeles Clippers, Chicago Bulls, Golden State Warriors, Brooklyn Nets, amongst others (Business Wire, 2021).

Super Group’s US Plan

But how does this group plan on breaking into the US market?

As part of the transactional deal SuperGroup made with Sports Entertainment Acquisition Corp, the group will enter the US sports betting market by acquiring a company called Digital Gaming Corporation (DGC). DGC will then have the exclusive right to use the Betway brand in the United States. This will also give them access to the market coming from online sports betting as well as gaming. The deal will begin starting from 10 US states. Some of these states include New Jersey, Pennsylvania, Iowa, Indiana, amongst others (Allen, 2021).

From this transaction, Super Group is valued at $4.75 billion. This deal will provide $450 million in cash and this money is coming from the Sports Entertainment Acquisition’s trust funds (Deter, 2021). After closing, Super Group will have $200 million in cash available on its balance sheet. The Super Group stock will trade on the New York Stock Exchange under the ticker symbol SGHC. (Deter, 2021). This large stock that will be traded by Super Group will surely have a huge impact on the US stock exchange market.

Impact of Betway on the US market

What impact will Betway collaborating with DGC have on the US market?

Before this announcement, the Betway brand was yet to make any significant inroads into the fledgling US betting market. But thanks to the cooperative effort between them and DGC, they can not only break into the US market but will positively impact the betting market. This is because some US states are beginning to deregulate online sports betting and casino gaming whereby only online sports betting is allowed. Examples of these states include Illinois and Indiana.

This has created a gold rush between online betting companies to stake a claim on the US market. This will play to the advantage of Betway because of the transactional deal with DGC (which is a gaming company). This means they can provide gaming services in the states that it’s allowed, and also provide online betting services in the states that it’s allowed, and offer both services to the states where both are allowed. This is a major profit margin that will be raised which will boost the US market value (Yogonet, 2021).

Super Group FAQ

Is West Ham United sponsored by Betway?

Yes, Betway proudly sponsors West Ham United (a football team, currently competing in the English Premier League.

Who is the CEO of Super Group?

The CEO of Super Group is Neal Menashe. He is the person that announced this deal.

References.

Business wire (2021). Super Group to Combine with Sports Entertainment Acquisition Corp. to create NYSE-Listed Global Company. https://www.businesswire.com/news/home/20210425005014/en/Super-Group-to-Combine-with-Sports-Entertainment-Acquisition-Corp.-to-Create-NYSE-Listed-Global-Gaming-Company
Yogobet (2021). Betway has sights set on the growing US betting market. 23^rd April 2021. https://www.yogonet.com/international/noticias/2021/02/23/56600-betway-has-sights-set-on-the-growing-us-betting-market?amp
Deter Amber (2021). Super Group (Betway) IPO: Sports Betting Parent Company to go Public. Investment U. 26^th April 2021. https://investmentu.com/super-group-betway-ipo/?amp
Allen Brad (2021). Global Gambling Giant Listing in NY via a $5 Billion SPAC deal. Legal Sports Report. 27^th April 2021. https://www.legalsportsreport.com/51055/betway-listing-in-us-via-spac/
Wrex (2021). UK firm Super Group entering US Sports, online casino market. 27^th April 2021. https://wrex.com/2021/04/27/uk-firm-super-group-entering-us-sports-online-casino-market/

The Future of Gambling in Arizona – Will They Legalise Online Gambling?

February 22, 2024 William Mcmaster

Given its proximity to Nevada, the world’s hub of gambling, one would expect that Arizona would embrace gambling full-on but that’s not exactly the case.

Residents of the Valley of the Sun state are very much interested in gambling, as is seen in the state’s lottery system which is the most popular in the United States of America. Nevertheless, the state is gambling-friendly to a large extent with some legal gambling activities that keep players engaged and generate revenue for the state.

Some of the legal forms of gambling in Arizona are casino gaming, lotteries, and dog and horse racing. Most of the land-based casinos in the state are tribal casinos. Internet gambling is also popular in other US states and legal in some but, there are no strict laws addressing this in Arizona.

Change in Arizona

Thankfully, this year saw the most significant improvement in Arizona’s online gambling space in almost two decades. Governor Doug Ducey, the current state governor, signed agreements with the native tribes, legalizing sports betting, daily fantasy sports, keno, and mobile sports. This agreement also lets existing tribal casinos in the state expand their game offerings by including more table games and permits the creation of new ones in metropolitan Phoenix.

Based on the agreement, the sports betting licenses will only be issued to tribal gambling operators and Arizona-based sports teams. Betting on college teams will be permitted but no prop bets will. The Keno games will also be hosted on horse race tracks and in their fraternal organizations only.

What can we hope for?

The last compact update before this was seen in 2003 and the negotiations that birthed these new adjustments lasted for five years. More progress is expected to be made in the state such as the introduction of licensed online poker rooms and online casino sites. This may take a while but this recent development has created hope that Arizona gamblers can hold on to.

The future of gambling everywhere in the world is online and Arizona is not left out here. There aren’t many indications to show that this is something that could happen anytime soon but it is inevitable. The internet has made gambling more accessible and online gambling itself has become a massive global market. The total revenue generated by the global online gambling space alone in 2019 was USD 53.7 billion. As a result, more governments are becoming more open to exploring this aspect of gambling.

Keep your eyes open…

If you’re an Arizona resident, this is certainly something to look forward to with more options to choose from and more opportunities to win, right from the comfort of your home. While you wait, explore as many legal options as you want, maximizing available chances to cash out in the state. The future just may be closer than you think!