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Industry
July 17, 2024
New Jersey Announces June 2024 Gaming Industry Results
The New Jersey Division of Gaming Enforcement (DGI) released its newest gambling industry financial report for June 2024. The total gaming revenue for New Jersey’s nine casino hotel properties settled at $244.1 million, a modest increase of 1.0% compared to $241.6 million reported in June 2023. Year-to-date win stood at $1.36 billion, consistent with last […]
Business
July 17, 2024
CIRSA Takes Lead in Peru After Acquiring 70% Stake in Apuesta Total
The Blackstone-owned group that aims to be a “global leader in the leisure and entertainment sector through a commitment to society, excellence, profitability, and efficiency,” CIRSA, has announced it acquired a 70% stake in Peru’s most successful sportsbook, Apuesta Total. As a result of the acquisition, CIRSA has become the majority shareholder of the entertainment […]
Blockchain
July 16, 2024
Founder of Crypto Casino Admits to Misusing Investor Funds, Resigns
The founder of an up-and-coming crypto casino that seeks to deliver customers odds equal to the ones with the house, reportedly admitted to gambling away a solid sum belonging to investors. The case involves the crypto casino platform, Zero Edge and its founder, Richard Kim. Besides the founder of Zero Edge, Kim was formerly a […]
Casino
July 15, 2024
Smart Chip Tray Creator Pushes Forward Despite the Setbacks
Darrell Ratliff, the developer of the innovative Smart Chip Tray, continues his efforts to cement his product as a staple at casinos despite all the difficulties he continues facing. A former US Marine, Ratliff hopes to leverage his product to eliminate cheating at casinos while reducing costs for gambling properties. The Smart Chip Tray uses […]
Business
July 12, 2024
ComplianceOne Reportedly Enters Insolvency Due to Financial Difficulties
ComplianceOne Group, a provider of compliance solutions to gambling operators, is entering insolvency, according to NEXT.io. The company’s chief executive attributed the development to the fact that his company had failed to secure enough contracts. CEO Antonio Zanghi told NEXT.io that his team will no longer be able to meet its financial obligations due to […]
Casino
July 12, 2024
Bally’s Corporation Secures $2B in Funding for Its Permanent Chicago Property
Bally’s Corporation has secured funding for its permanent casino in Chicago from Gaming and Leisure Properties thanks to a new lease arrangement. This will allow the former company’s property in the city to progress after a period of financial uncertainty. According to the announcement, an affiliate of Gaming and Leisure Properties agreed to acquire the […]
Business
July 12, 2024
JP Morgan Analyst Sees Bright Investment Future for MGM Resorts
MGM Resorts International is drawing attention with its investment potential, a report by JP Morgan analyst Joseph Greff said. In a note to investors, Greff stressed the good risk/reward profile of MGM’s stock and confirmed his Overweight rating while setting a price target of $57 per share. MGM Resorts’ Strong Cash Flow and Strategic Moves […]
Business
July 11, 2024
Apax Partners Fully Exits Equity Position in Genius Sports
Apax Partners LLP’ Funds (Apax Funds) have fully monetized their equity interest in the official data, technology, and commercial partner powering the global ecosystem that ties sports, betting, and media, Genius Sports Limited. Apax no longer holds any shares in the company that allows its technology to be used in more than 150 countries. Apax […]
Business
July 8, 2024
Gambless App to Be Phased Out Because of Insufficient Backing
Gambless, an application providing help to people struggling with their gambling, will be gradually phased out after four years in service. With a heavy heart, the company announced the closure of the app, which was launched in 2020 and has so far assisted more than 20,000 people struggling with addiction. According to Gambless, the mobile […]
Business
July 5, 2024
Kambi Withdraws 2027 Financial Targets amid Market Uncertainties
Kambi Group plc’s Board of Directors has withdrawn its previously announced 2027 financial targets, citing slower-than-expected regulatory progress in key markets as a primary reason. The decision follows a comprehensive review initiated in February, which reassessed the company’s progress in its core jurisdictions, challenging the assumptions that shaped its January 2023 financial targets. This Downturn […]
