Gambling News: DraftKings Increased Revenue By 57% , Bally's Net Income Was $59.5 Million With A 10.8% Margin And More

DraftKings shows record revenue growth in the Q2 of 2022 and more

DraftKings shows record revenue growth in the Q2 of 2022 and more

DraftKings Q2 Revenue Up 57%

Gaming operator DraftKings has released its official earnings report for the second quarter of 2022. Profit was $466 million, up 57% compared to the same period in 2021.

The main driver of growth was the thriving B2C sector, which grew 68% to reach $455 million. DraftKings’ purchase of Golden Nugget Online Gaming (GNOG) and its launch in Ontario also had a big impact.

Online betting volume in New York falls below $1 billion for the first time

Online betting volume in New York falls below $1 billion for the first time

The volume of internet sports betting in New York fell below $1 billion in July. This is the first time when the company showed such result since the US state opened its regulated market in January 2022.

During the month, bettors spent a total of $800.8 million on sports betting, down 23.8% from $1.05 billion in June.

XMedia Expects 38% Revenue Growth in 1H

XLMedia released a trading report that lists an expected revenue of $44.5m for the first half of the year, among other performance projections.

In the first half of 2022, the company forecasts revenue growth of 38% compared to $32.2 million last year, while adjusted EBITDA will rise by an even more significant 59%.

Backed by its newest vertical, US Sports, XLMedia said it traded well over the six-month period, which likely explains the company’s upbeat expectations.

The segment accounted for more than two-thirds, or 68%, of the group’s first-half revenue: approximately $30.2 million.

Bally’s reports $552.5 million in revenue for the second quarter of 2022

Bally's reports $552.5 million in revenue for the second quarter of 2022

Bally’s Corporation has released its financial results for the second quarter of 2022. Revenue was $552.5 million (up from $226.7 million in 2021).

Bally’s net income was $59.5 million with a 10.8% margin.

This is one of the best results among competitors: Caesars reported growth of 11%, MGM Resorts – 44%, Penn Entertainment – 5% and Boyd Gaming – only 0.1%.

Betsson and GiG signed a deal to provide products in Colombia

Betsson and GiG signed a deal to provide products in Colombia

The Gaming Innovation Group announced a new ageement with a well-known casino developer Betsson Group. Cooperation will last two yers. In the framewoks of this cooperation, GiG products will be presented in Colombia.

The cooperation between these two brands in Colombia began a year ago, when Betsson acquired colbet.co, after which the company agreed to make changes in the account management system of GiG’s players.

Betsson Group Commercial Manager Andrea Rossi told that as part of their rebranding in Colombia, they had moved to the GiG platform. He also stated that they know the operator, its capabilities, and that new partnership would strengthen business ties.

Nevada casino revenue up 8% in June 2022

Nevada casino revenue up 8% in June 2022

The gross gambling revenue of more than 400 casinos operating in the US state of Nevada in June 2022 exceeded a billion dollars for the 16th consecutive month. This follows from the financial report published on June 28 on the website of the Nevada Gaming Commission (The Nevada Gaming Control Board).

According to the content of the document, gambling income for the reporting period amounted to $1.28 billion, which is 8.1% more than in June 2021. At the same time, compared to May 2022, revenue decreased by $72 million.

$1.1 billion of the revenue generated came from Clark County. The income of the Las Vegas Strip casino amounted to $735 million.

$839 million in casino revenue was related to slot machines. Board games generated $438 million in revenue. The largest income from table games was received from baccarat – 143 million dollars. This is followed by blackjack ($90 million) and roulette ($40 million).

Ten casino operator licenses renewed in Chile

Ten casino operator licenses renewed in Chile

The Chilean Gaming Council (SCJ) has extended ten licenses of casino operators for 15 years. This is stated in the message of the regulator. The renewal of the licenses took place during a public hearing last Friday.

Incumbent casino operators have been asked to submit their applications through the twelve license licensing process, which will be available as of July 2023.

Licenses extended for Marina del Sol in Calama, Casino Antay in Copiapó, Casino Monticello in Mostzasala, Casino de Colchagua in Santa Cruz, Marina del Sol in Talcahuano, Casino Gran Los Ángeles in Los Angeles, Latin Gaming in Osorno, Casino de Juegos in Temuco, Punta Arenas and Valdivia.

Two licenses were not renewed. The application of the operator of the casino in Talca was rejected, and the company in the Antofagasta region decided not to renew its license.

Recall that in May 2021, SCJ announced the resumption of the tender for 12 licenses of gambling operators, which was interrupted a year earlier due to the coronavirus pandemic. The Chilean Casino Association opposed the competition, saying that, according to previous agreements, operators have the right to extend them on the same terms, without a tender. However, in 2015, after the conclusion of these agreements, gambling legislation was changed in Chile, based on the terms of which the regulator announced a tender for licenses with the participation of all interested parties.

As a result, a decision was made to grant the priority right to license renewal to existing operators.

There are currently 27 casinos allowed in Chile, 21 of which are private and six are municipal. The gross gambling income of gambling establishments in the first quarter of 2022 amounted to 132.56 billion Chilean pesos.

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