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Gambling News - 'Finance'
Business
January 10, 2024
Morgan Stanley Expects 17% CAGR in US Online Gaming Revenue by 2026
Leading global investment bank and wealth management firm, Morgan Stanley, has started the year presenting its outlook on the US gambling industry. The interesting outlook highlighted the “single highest growth opportunity” when it comes to consumer discretionary sectors, due to a projected 17% compound annual growth rate (CAGR) in online revenue for 2023-2026. The firm, […]
Industry
January 10, 2024
Detroit Casinos Post 2023 Results, Highlight a Slight Decrease in Revenue
The Michigan Gaming Control Board (MGCB) has published information about the financial performance of Detroit’s three casinos in 2023. According to the regulator, the properties reported а total monthly aggregate revenue of $116.2 million for December and а total yearly aggregate revenue of $1.237 billion for 2023. In December, $111.4 million of the total revenue […]
Business
January 10, 2024
Analyst Lowers Price Target on Caesars Stock Due to F1 Performance
In November, the Las Vegas Grand Prix, one of the much-anticipated events for Formula 1 fans, wrapped up. While the event attracted visitors from across the globe, its impact wasn’t as strong as initial expectations, at least for Caesars Entertainment. In a newly released report by CDC Gaming Reports, Joseph Greff, an analyst for J.P. […]
Business
January 8, 2024
Bet365’s Revenues Increased in FY 2022/23 but So Did Losses
Global operator bet365 has published its annual report, highlighting a significant year-on-year increase in revenue. However, this favorable metric was offset by a substantial increase in operating loss. Bet365’s report covers the 52 weeks ended March 26, 2023, and highlights a total gaming and betting revenue of £3.39 billion ($4.32 billion, current rates). This represents […]
Business
January 8, 2024
Strong Bettor Performance May Impact DraftKings’ Q4 Results
Currently, DraftKings holds a leadership position within the growing sports betting sector across the US. The company plans to release its fourth quarter results in mid-February, highlighting key details regarding its performance for the last months of 2023. Ahead of the Q4 results, a leading equity research analyst spoke about an anomaly that may impact […]
Business
January 5, 2024
New York Betting Operators Set New $188.3M Revenue Record
Over the last few months, mobile sports betting operators in New York have reported exceptional results. The betting handle reported by the operators in October hit a $2 billion record, making the state the first one to surpass such a sum in wagers. Continuing this upward trend, November marked the second month in a row […]
Industry
January 5, 2024
Report Argues New Jersey iGaming Has Harmed the Economy
The gambling industry can provide significant economic boosts to certain areas, creating new jobs and generating millions in tax money. This argument continues to be used by proponents of the industry in many states where certain verticals are not yet legal. However, a recent report shows that New Jersey’s online casino industry is not as […]
Business
January 5, 2024
IGT’s Stock Rating Lowered amid Ongoing Strategic Review
The globally recognized gaming company, International Game Technology (IGT), observed a dip in its shares after its stock rating was downgraded Thursday. The decision to downgrade the stock by Jefferies came amid concerns about the slow progress of the announced strategic review by IGT. This saw Jefferies downgrade its rating for the leading gaming company […]
Industry
January 4, 2024
Rhode Island’s Betting Industry Posts Suboptimal November Results
The Rhode Island Lottery published information about the performance of the state’s sports betting industry in November. As it turns out, November wasn’t sportsbooks’ best month despite a slight month-on-month increase in bets. According to the report, Rhode Island’s sportsbooks earned a total of $3.31 million in November. Unfortunately, this figure represents both year-on-year and […]
Business
January 2, 2024
Macau GGR Increase in 2023 to Boost Nongaming Investments
Casino operators across Macau wrapped up a successful 2023 with exceptional results achieved in December and overall good performance throughout the year when compared to 2022. The outstanding results will now push the enclave’s six casino operators, Melco, SJM, Wynn, MGM, Sands and Galaxy, to invest more money into nongaming amenities and projects. The reported […]