News and Analysis
Online Casino Bill Introduced in Iowa
House Bill 227 has been introduced, and it seeks to regulate online casinos in Iowa. If passed, each land-based casino in the state would be permitted up to two online skins, with licensing and regulation the remit of the Iowa Gaming Commission. Online sports betting is already legal in IA, so hopes are high that the bill could pass. If it does, IA will become the USA's seventh iGaming state.
Find out more about which states are most likely to legalize online casinos in 2023 by reading our complete analysis.
AGA: US Commercial Gaming Revenue Hits New Record in January 2023
According to the American Gaming Association, US commercial gaming revenue has hit a new US record of $5.05bn for January 2023 - a 21% YoY increase. This also represents the industry's 23rd consecutive month of growth.
Sports betting revenue hasn't been left behind, with figures surpassing $1bn for the first time. The AGA said the rise in sports betting revenue is partly due to the launch of the Ohio and Massachusetts markets in January.
Kentucky Bans Gray Gambling Machines
Kentucky governor Andy Beshear has signed HB 594 into force, banning skill-based game machines, or "gray machines," throughout the state. These gaming terminals traversed current laws by including an element of skill but were essentially coin-operated video game machines with real money payouts.
Missouri House Approves Sports Betting Bill
Missouri has taken a step forward towards legal sports betting as HB 556 clears the House and moves to the state Senate for final approval. The bill would allow land-based casinos in the state to operate retail and online sportsbooks. It sets the tax rate for operators at 10% and would allow 3-6 skins per casino license.
Oklahoma Tribal Betting Bill Passes First House Vote
HB 1027 has passed the Oklahoma House of Representatives by 66-26. The bill has now moved to the Senate for adjustments, after which the final version must pass a House and Senate vote. The bill seeks to amend the current tribal gaming compacts to make way for legal sports betting in the state.
NJ, PA, and DE Revenue Rises Year on Year in February
Revenue figures are in for February, and here's the state of the states for New Jersey, Pennsylvania, and Delaware.
NJ recorded growth in almost all gambling sectors for February, showing a 10.4% YoY increase. However, the total for February was down 5.7% compared with the previous month (total revenue for February was $412.2m, while in January, it was $436.9m). Online gambling revenue increased by 9.7%, with Borgata Casino in first place, followed by Golden Nugget in second place, and Resorts Casino in third.
Pennsylvania's figures were up an incredible 21.6% YoY for February, driven mainly by PA online casinos and sportsbooks. However, figures didn't surpass January 2023's revenue totals, missing the mark by just 1.6%. YoY online slot revenue in the state increased by over 36%, and table games by 15%. Hollywood Casino remained the most popular option, followed by Fanduel and BetRivers Casino.
Meanwhile, the Delaware market didn't pull itself out of its current slump as sports betting figures hit a six-month low, and DE online casino revenue fell for the second month. iGaming revenue was $38m for February, down 13.8% on January's $44.1m. However, YoY, it's still a 55.7% increase on February 2022's spending. Delaware Park Casino remained the most popular online gambling site in the state.
MA Sports Revenue Hits $2m in the First Month of Legal Betting
The legal sports market in MA opened retail betting on January 31st, 2023, and revenue amounted to $2m in the first month of betting. Online sportsbooks are now also live in the state but launched more than a month later on March 10th.
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