News and Analysis
Casino Bill Introduced in New York
Senator Joseph Addabbo Jr. has introduced S4856, which, if passed, would amend the current pari-mutuel wagering and breeding law, adding a new article to legalize NY online casinos (slots, tables, and live dealers). Empire state casino resorts, race tracks, tribes with compacts, and current online sports operators would be allowed to apply for licenses costing $2-10 million for ten years. The suggested tax rate would be 30.5%, higher than all other US iGaming states. There is also a proposed “stability requirement,” which would exclude any brand which operates in any locations where gambling is illegal from gaining a NY license.
Caesars Sports Live in Massachusetts
Caesars Sportsbook announced the launch of its Massachusetts platform yesterday. The site is live, and players can now download the app and deposit to access early-bird sign-up promos. However, bets are not yet live. The formal market launch is expected in March after sports betting was legalized on January 31st.
Four Months iGaming Revenue Streak in Michigan
Michigan players have set online gaming revenue records for the fourth month, despite a drop in total internet revenue (casino and sports). Sports betting reduced by 31.1% monthly, causing the dip, while online casino revenue rose 0.6% on December’s 2022 record.
Industry First as MGM Makes UN Water Mandate Commitment
MGM is making headlines for all the right reasons this week as it became the first gambling operator to endorse the UN’s CEO Water Mandate (a global coalition of businesses committed to combating water crises). The mandate aims to stimulate business leaders to commit to meaningful action and annual reporting of their progress. Between 2007 and 2021, MGM reduced its water use by 37%, and it’s now taken the next step! Hopefully, we’ll see more gambling operators get on board with sustainable initiatives as a result!
PA Total Gambling Revenue up 18% in January
In more good news for operators, PA gambling revenue for January is up 18.2% YoY. The most popular online casino in the state was Hollywood Casino, then FanDuel and Resorts in third place. Almost all sectors saw growth, with slots remaining the biggest earner.
Penn Entertainment Completes Barstool Sports Acquisition
Penn Entertainment now owns 100% of Barstool Sportsbook. In 2020, Penn Entertainment acquired a 36% share of the company and purchased the remaining 64% this week. Penn paid $551 million for Barstool and hopes to expand its US sports betting market share.
NJ Starts the Year with iGaming Uptick
After a record-breaking 2022, NJ online casinos are starting the year with a bang, as iGaming revenue for January is up 10.9% YoY. Borgata remained the top online casino in the state, despite other sites, like Golden Nugget and Resorts, seeing more significant GGR increases.
Game of the Week
Crazy Digginz - It’s all Mine! Pulse 8 Studios (EveryMatrix), RTP: 96.02% (ranges)
Crazy Digginz - It’s all Mine is a tasty mining-themed number from Pulse 8 Studios. Set 5x3 reels players are introduced to the slightly eccentric trio - Allmine, Flint, and Morpho- and invited to join them, digging deep in search of riches.
What’s so remarkable about this new US slot? Well, to start, it’s got an insanely high max win of 68,000x your bet; plus, it’s packed with fun features and a great math model. The bonus features include wilds, special wild modifiers, scatters, free spins, win boosters, and a bonus buy function for players who want instant access to the best parts of the game.
The action starts in the base game with line wins of 3-5 symbols, which can result in 8-40x payouts for premium symbols. Along with the regular subbing wilds, you’ll want to keep your eyes on the crazy miners, as each is a special wild, which can trigger multipliers and symbol upgrades. There’s also the random Crazy Mode, which increases the modifier function of each special wild. You’ll need 3+ scatter on the reels to make it to the bonus round. This awards 12 re-triggerable free spins, with extra prize-winning potential and special wilds added for good measure.