Commentaries

Casino revenues and profits are up, but fewer customers and other serious economic issues are impacting the gaming industry. What is going on? The post-pandemic economy is a mixed bag. Signs of recovery are accompanied by warning flags. The unemployment rate has returned to something close to 2019 levels, but 10 million jobs remain unfilled, particularly in service industries. Gaming is plagued … [Read more...]

The fog may be lifting in Macau, a least slightly. Several recent events illustrate the issues and point toward potential changes in gaming there. To begin with, the Gaming Commission has reorganized itself and expanded, nearly doubling in size. The stated intent was to better oversee the gaming companies. At the time of the announcement, however, the underlying motivation seemed difficult to … [Read more...]

Recent announcements that Imperial Pacific International (IPI), operator of the Imperial Palace Saipan, has had its gaming license suspended and is now at risk of having its license revoked may soon bring to an end a story of one of the world’s most ambitious integrated resort projects. It has also dashed the hopes of many in Saipan who once saw an integrated casino resort as a way to stimulate … [Read more...]

Explosive revelations from recent inquiries into the suitability of Australian casino giant Crown Resorts to hold casino licenses in the states of NSW and Victoria highlight the dangers of slashing regulatory budgets. In a recent current affairs program aired on Australian television in early July, five former Victorian gaming inspectors detailed their experiences trying to regulate Crown … [Read more...]

One of the arguments for limiting the advertising of gambling products is that it “normalises” the activity. And I suppose the follow on is that normalisation will lead to an increase in gambling harms.  The vast majority of more than 30 percent of the adult population in the UK regularly participate in gambling without suffering any harm or being at risk of suffering any harm. That, in my … [Read more...]

There is little chance of any change to the UK’s Gambling Act being passed before well into 2022, but debates continue in Parliament, as ministers attempt to wrap their heads around the finer details of the industry.  Last week, on 22 July, an adjournment debate was brought by conservative MP for Blackpool South and joint chairman of the All-Party Parliamentary Group on Betting and Gaming Scott … [Read more...]

The momentum for getting tribal approval for sports betting regulation is stronger now than it has ever been, but the lobbying wars between them and commercial brands will also carry on. The National Indian Gaming Association conference that took place in Las Vegas last week in many ways was a momentous occasion - for the tribal gaming community, of course, as it announced its largest-ever … [Read more...]

Europe has more than 800 land-based casinos that employ some 70,000 people. This excludes slot arcades, which in some countries meet the legal classification of casino. You might think that these casinos are evenly distributed around the population centres, but that is not the case. Europe´s patchwork quilt of casinos has some threadbare parts to it and others where there is an … [Read more...]

Few in the industry wouldn’t welcome more clarity around the Wire Act. For years it has hung over the burgeoning U.S. igaming market like a Sword of Damocles. However, the passing of last month’s deadline for the Department of Justice (DOJ) to appeal a First Circuit decision stating that, contrary to the DOJ’s 2018 interpretation, the Wire Act only applies to sports betting, has come as a … [Read more...]

The U.S. igaming industry is in hyper-growth mode at the moment, but much will also depend on whether current regulatory levels continue, especially with regard to icasino.  The U.S. igaming industry is currently described as being in a phase of hyper-growth, and looking at the numbers and the levels of investment, start-up, buyouts or listings activity surrounding it, this is an accurate … [Read more...]

The world’s largest and most successful integrated casino resort (IR) operators are faced with a dilemma. There are very few markets where they can deploy their expertise and capital to develop integrated resorts on the scale seen in Macau and Singapore. Countries in Asia, once viewed as ideal markets that could support multi-billion dollar developments, are proving to be problematic. … [Read more...]

The 2018 Japan Gaming Congress in Tokyo saw a large crowd of hundreds of industry and government professionals coming together to discuss what was, at that time, the most exciting new casino gaming jurisdiction on the planet. Key industry stakeholders ranging from high-ranking politicians to global integrated resort operators, gaming product suppliers, potential investors and expert … [Read more...]

The Danish regulator Spillemyndigheden released a self-congratulatory notice earlier this month, announcing that it had achieved 90% channelisation in 2020. Hitting this milestone probably felt worth shouting about, given that ‘channelisation’ has become somewhat of a buzzword and bone of contention in European regulatory circles of late. It is an interestingly overlooked factor of many … [Read more...]

artificial /ɑːtɪˈfɪʃ(ə)l/, adjective: made or produced by human beings rather than occurring naturally, especially as a copy of something natural intelligence /ɪnˈtɛlɪdʒ(ə)ns/, noun: the ability to acquire and apply knowledge and skills There is no doubt that artificial intelligence will assist humans in understanding far more than is currently known about the universe we live in, whether it … [Read more...]

So far the claims made in the Hindenburg report about SBTech’s business set-up in black markets don’t seem to have done much damage to DraftKings. The fact that the allegations are now public is probably the biggest service the report has done. It is never a good look to be too blasé or cynical about business, but there was little that surprised industry executives when the Hindenburg Research … [Read more...]

The major U.S. sports betting brands have either become broadcasters in their own right or signed numerous media partnerships to increase reach and user engagement. The aim will be to increase in-play volumes and interaction.  The convergence of sports betting, media and broadcasting continues in the U.S. with the latest and somewhat unusual agreement that Fan Duel will be the exclusive odds … [Read more...]

Connecticut is set to become the sixth state to legalize online casino gaming, and the seventh to regulate online poker. The latter has a chequered past in the U.S. – hence the reticence of many states to include it in their post-PASPA regimes. Only last year, the U.S. justice system to brought Isai Scheinberg, the founder of internet-gambling giant PokerStars, before a federal court. It was … [Read more...]

The House of Lords’ Peers for Gambling Reform group has landed a doozy with its latest contribution to the debate surrounding the UK’s Gambling Review. The cross-party group, chaired by Lord Foster of Bath, recently commissioned NERA Economic Consulting to conduct an economic assessment of select proposals to reform the UK Gambling Industry. In its subsequent report, NERA estimated that the … [Read more...]

If Michael Jackson were alive, the UK Gambling Commission (GC) would have no need to take lessons from him. Jackson perfected the Moonwalk, the appearance of moving in one direction, but in fact moving in the opposite one. You may remember that the GC put out a consultation on the requirement for affordability checks, in which customers would not be allowed to go beyond a certain spend limit … [Read more...]

As the summer travel season begins, the US casino industry appears to be in full recovery. Constraints on casino and restaurant capacity are being lifted in jurisdictions across the country, and mask mandates have been eased in many Indian casino and commercial operations. Driven by a very successful vaccination campaign, Covid-19 infections are dropping dramatically, and an end to the pandemic in … [Read more...]

Asia’s VIP operators, also known as junkets, have faced plenty of headwinds in recent years. But if recent evidence is anything to go by, the challenges ahead are growing more significant with each passing day. One particularly notable development that has flown somewhat under the radar in recent months has been the banning of all junkets in at least five jurisdictions across four different … [Read more...]

Super affiliates Better Collective and Catena Media’s first quarter results published this month confirmed their leadership positions in the U.S. igaming market. Better Collective dominated the headlines with its $240m buy out of Action Network, while Catena Media re-entered the M&A field after a two-year hiatus with its acquisition of Lineups.com for $39.6m. Both deals are eye-catching, … [Read more...]

There was something almost plaintive about Rank’s social-media messaging in the days before the UK’s harshest lockdown measures were lifted across most of the country. “There’s three days to go and we can’t wait. It’s been too long, but the good times are coming back,” the company predicted. "We’ll be swinging open Grosvenor's doors on Monday 17 May and we can’t wait to see you!" It’s an upbeat … [Read more...]

This is the week that many casinos and other gambling venues in Europe are emerging from lockdown and permitted to reopen their doors, albeit with restrictions on the number of people allowed on the premises at any one time. The pandemic has had a devastating impact on Europe’s land-based gambling industry. With venues ordered to close, then to reopen, then half-closed, closed, half-open, and … [Read more...]

On April 14, 2021, the Administrative Court of Rome accepted the appeal of Betfair (Betfair Italia s.r.l.), thus voiding the part of the challenged Italian gambling Regulator’s notice that refers to betting exchange additional taxation, in order for the latter to issue a new notice that clarifies the grounds and preliminary information for the tax application and calculation criteria. The case … [Read more...]

The Irish bookmakers have been lobbying their government to be allowed to continue to accept bets on the outcome of the Irish Lottery, this is in response to the Irish Lottery, understandably, having lobbied to make it illegal. Not many countries allow bets on the outcome of their lotteries, arguing that any bets made will draw money away from the lottery itself and therefore from the good … [Read more...]

The prospect of integrated casino resorts in Sri Lanka is once again making headlines. The resorts would be part of a massive urban development project called Port City Colombo. Developed by China Harbour Engineering Company and China Communications Construction Company, Port City Colombo is an ambitious venture that will reclaim approximately 260 hectares of land and will include a theme park, … [Read more...]

A comment made by Chief Executive Ho Iat Seng in mid-April detailing Macau’s plans to amend its financial laws to allow for the introduction of China’s Digital RMB as an official currency indicate an important change of policy direction by the Macau SAR Government. Beijing is planning to introduce its Digital RMB into the Chinese economy by 2024 and has been conducting pilot programs in … [Read more...]

Many high value players continue to bet on offshore books, but it doesn’t seem to trouble the regulated operators, as many refuse to take the action and those VIPs have their own workarounds.  DraftKings chief executive Jason Robins made a startling comment during the company’s investor presentation in early March. When it came to customer acquisition, the biggest issue for DraftKings was … [Read more...]

Bally's Corporation is shaping up as the archetypal US omnichannel operator as it continues its acquisitive run; hoovering up casinos, betting platforms, and – next – UK-based igaming developer Gamesys. The deal was finalised on April 13, with Bally’s this week reporting it had raised $671.4m through a share offering, in order to fund its proposed $2.8bn acquisition of the London Stock … [Read more...]

The main reason for reviewing the Gambling Act 2005 is that the speed of technological change has rendered much of it unfit for purpose. So how is the UK government going to ensure the same doesn’t happen again? The rise of blockchain and cryptocurrencies in the last decade has been stellar. Bitcoin launched in 2009 and today, one unit of the crypto asset is valued at £40,579.52 ($56,376.50). … [Read more...]

If it looks like a duck, swims like a duck, and quacks like a duck ... The fallout from the collapse of Football Index continues. Foot Stock, a similar concept to Football Index, pulled its funding from the crowdfunding platform, Seedr. And much indignation has been coming from politicians and showing up in the media about the amount of money people have lost, reports of up to £100 million. … [Read more...]

The aftershocks caused by the issuance of the Bergin Report in February of 2021 continue to reverberate across Oceana and East Asia. The report evaluated Crown Resorts’ suitability to hold a gaming license for its soon to be completed AU$2.2 billion resort in New South Wales. The report uncovered a variety of issues at Crown’s casino properties in Victoria and Western Australia. Specifically, the … [Read more...]

On 3 March 2021, Las Vegas Sands announced that it had reached an agreement to sell off its entire Las Vegas property portfolio, providing in return an extensive and powerful US$6.25 billion war chest. Coming less than two months after the passing of founder Sheldon Adelson, the decision to sell, albeit hinted at in earnings calls last year, suggests that arguably the most successful casino … [Read more...]

The collapse of Football Index, which billed itself as a stock market for footballers, is estimated to have cost tens of thousands of its users in the region of £90 million. Bet Index, the company that operated Football Index, is now in administration and has since had its license suspended by the Gambling Commission. More recently, Footstock, a similar product, surrendered its Gambling Commission … [Read more...]

Plus ça change, plus c'est la même chose (the more that changes, the more it's the same thing) Today, we are experiencing waves of regulation and re-regulation of gambling throughout the world. In the U.S., the Supreme Court decision overturning the Third Circuit Court of Appeals, finding that PASPA violates the states’ Tenth Amendment rights, cleared the way for states to determine whether to … [Read more...]

Daily fantasy sports is a key acquisition and educational tool in the ultra-competitive U.S. iGaming space. The pressure is on to find early-stage DFS specialists as operators look to grow both player-base and brand awareness. Not many industry observers could have predicted how fantasy leagues or the fantasy sports betting vertical would develop over the last 25 years when media brands like … [Read more...]

Last week, Football Index, the fantasy sports share-trading business, called in the administrators, a process similar to the United States’ Chapter 11, and the UK Gambling Commission (GC) suspended its operating license, resulting in the closure of the business. The GC put out a statement: “The suspension follows an ongoing section 116 review into the operator, as we had concerns activities may … [Read more...]

Earlier this month, the UK Gambling Commission (GC) announced they had taken action against a number of Personal Management Licence (PML) holders at Caesars Entertainment UK. This investigation was launched off the back of regulatory action last year resulting in a £13m penalty for the operator, stemming from a series of social-responsibility, money-laundering and customer-interaction failures, … [Read more...]

A year after the coronavirus forced the closing of all the casinos in the country, recovery and return to normal may be beginning. The governors of Maryland, Nevada and New Jersey have eased the restrictions in their states. For a year, Las Vegas has been without two of its major drivers, entertainment, and conventions. Nevada Governor Steve Sisolak is very aware of the impact and is doing his … [Read more...]

It would be hard to imagine a bigger story than the sale of the Las Vegas Sands properties. Just two months after Sheldon Adelson died, the Sands announced it had reached a deal to sell its real estate and gaming operations in Las Vegas in two separate transactions. VICI Properties is buying the real estate and Apollo Global Management is acquiring the operations. Chairman and CEO Robert … [Read more...]

It’s been 12 months since my last casino visit, by far the longest stretch since becoming obsessed with Las Vegas and blackjack 40-some years ago. I’m eager to return as soon as I feel safe in a crowd, whether for an evening at my home casino in Pennsylvania or on an excursion to a gambling hub. But a question nags at me: How much do casinos want me back? Will they still welcome low- to … [Read more...]

This week, we are back to the development of probability theory, which we approach through the graveyards of plague-infected 17th century London. In this series, I have written about how the initial impetus for the development of probability theory was gambling. First, Cardano explained how the probability of various outcomes of dice throws and card games could be calculated. Second, in … [Read more...]

For over two decades, casinos in East Asia and Oceana have targeted gamblers residing in the Peoples Republic of China (PRC). From the VIP rooms in Cagayan Province in the Philippines to the casinos in Australia, Chinese gamblers have long been an important market. Whether they were brought in by junket promoters, group tours, or as individual travelers, and more recently as online gamblers, … [Read more...]

At a time when casino operators around Asia are either starting to see their fortunes rise or preparing for better days ahead as vaccines begin rolling out across the globe, there is reason for ongoing concern in South Korea. The East Asian nation is home to 17 casinos – eight in Jeju and nine on the mainland – and of those only one, Kangwon Land in remote Gangwon Province, permits locals … [Read more...]

The terms of reference for, and the scope of, the review of the Gambling Act 2005 have been agreed on and we are off to the races. All parties have started lobbying for their positions, with articles appearing in the media and spokespeople for various factions popping up on broadcast news. To avoid the debacle of the FOBT debate, the Betting and Gaming Council (BGC) want to control the message … [Read more...]

The empty stadia of top-class sports in lockdown has presented a dismal prospect. The echoing shouts and cries to the few players and staff in the arenas rebound around venues more suited to the singing of the multitude. Spare a thought, though, for the data scouts. While the rest of the spectators get to moan about a lack of atmosphere, the scouts still have a job to do, translating the action … [Read more...]

The U.S. igaming market is the only game in town when it comes to growth prospects and potential currently. The headlines and figures are noteworthy in these early days, but the daily grind and detail of operators’ activities will define the market. The rate at which the U.S. online gaming and betting market is developing has made it the only game in town in terms of industry interest and, if … [Read more...]

New U.S. Corporate Requirements, Section 230 and Igaming “Remember that not getting what you want is sometimes an incredible stroke of luck.” -- The Dalai Lama About the last thing the U.S. Congress did in 2020 was to override President Donald Trump's veto of the National Defense Appropriations Act. It was the first thing the U.S. Senate did in 2021. Like all big and important budget … [Read more...]

In Portugal, to operate a land-based casino, operators must enter a public-tender procedure to be granted a concession. Considering the amounts of money involved and EU regulations, these tenders should be international. Usually, well before the termination of the concession contract, the Government should prepare and organize a new tender, which in complex concessions such as land-based casinos … [Read more...]

If there is one thing we have learnt from the licensing and suitability woes hovering over Australia’s Crown Resorts right now, it’s the importance of compliance and keeping scrupulously close watch over the flow of funds in and around the casino floor (and in pubs and clubs across the state). But it has also reinforced the fact that gambling-related companies are often held to a different, … [Read more...]

In January, Thailand’s prime minister announced that he was willing to explore the possibility of legalizing casino gambling in the kingdom. Recent outbreaks of Covid-19 in illegal gambling halls prompted him to make the announcement. His statement also acknowledged that Thai citizens already gamble, in both illegal domestic operations and in other countries. Any number of possible gaming … [Read more...]

The levels of marketing and coverage of sports betting in the U.S. are above anywhere else in the world, but scrutiny of the industry is just as likely to rise in parallel. The number of media partnerships and the level of broadcast and mass market exposure betting brands are getting in the U.S. is some levels above anything seen in other regulated markets. A quick run through of recent … [Read more...]