News and Analysis
Kentucky: Sports Betting Licenses Issued and Pre-Registration Open
Kentucky's Horse Racing Commission has issued seven temporary sports betting licenses in preparation for the market launch on September 7th (online sportsbooks will follow on the 28th). The temporary licenses are active for one year, and mean bettors can place bets on the NFL kick-off, which also takes place on September 7th and sees the Detroit Lions go against reigning champions, the Kansas City Chiefs.
Seven online operators (BetMGM, Bet365, Caesars, Circa, DraftKings, FanDuel, and Penn Sports) and eight retail locations gained approval (Churchill Downs, Derby City, Ellis Park, Mint Gaming Hall in Corbin and Williamsburg, Newport Racing, Oak Grove, The Red Mile and Turfway Park).
Golden Nugget Becomes PA's Newest Online Casino
Pennsylvanian has a brand new online casino, and it's golden by name and nature. We are, of course, referring to Golden Nugget, which has become PA's 19th online casino and the second operator to launch under Pennsylvania's qualified gaming entity (QGE) program (its license is not linked to a land-based casino).
PA is Golden Nugget's fourth online casino state, as the brand already operates in NJ, WV, and MI. The platform is already live, offering over 500 games, including DraftKings' exclusive titles, and welcomes new players with a 100% match offer.
State of the States: Revenue Roundup, July 2023
The NJ gambling market grew by 5.3% YoY (up 10.3% on June 2023), with a total gambling revenue of $506.2m. $290m came from land-based casinos, while NJ online casino revenue accounted for $155.2m, up 13% YoY. Borgata Casino took the top spot, with Resorts in second and Golden Nugget in third place. Meanwhile, total sports betting revenue was up 35.6% YoY, totaling $61.0m for the month.
Pennsylvania also had a great month, with total revenue up 8.9% YoY to $467m (up 6% from June 2023). PA online casino and iGaming revenue grew an incredible 34.8% YoY, with online slots up 31.9%. Hollywood Casino led the way, followed by FanDuel in second place and BetRivers in third.
In Michigan, commercial and tribal operators reported $176.1m in gross receipts from internet gaming and sports betting ($153.6m for iGaming and $22.5m for sports). When adjusted for promotional spending, that's a total of $154.6m adjusted gross receipts (AGR), with $138.2m from iGaming and $16.4m from sports betting. YoY shows an 18% growth rate for iGaming and 16.8% for sports.
Lastly, in Delaware, total iGaming and sports spending fell by 4% YoY, with a total wager amount of $36.4m ($24.6m on online video lottery games, $11.8m on tables, and $2.3m on sports betting). Online casinos generated $1.2m in revenue. Delaware Park remained the market leader, followed by Bally's Dover, with Harrington placing last.
Delaware Provider Update: RSI Wins the Day
Last week, we talked about who would be Delaware's new iGaming provider. Well, now we can announce that the Delaware Lottery Commission has awarded the contract to Rush Street Interactive for five years after 888 Holdings dropped out of the process.
Delaware was the first US state to legalize online casino games. Still, it is home to only three online casinos. It isn't a competitive market due to the single gaming license and restrictive tax laws that see the first $3.75 million of revenue taxed at 100%, after which slot revenue falls to 57% and table games to 20%.
Fanatics Sportsbook Live in Four States
In our last headline for the week, Fanatics Sportsbook has officially launched in Maryland, Massachusetts, Ohio, and Tennessee, following six months of beta testing. Fanatics is a challenger brand that uses an in-house platform and brings consumers simplified betting and transparent withdrawals.
Fanatics Betting and Gaming Chief Scott McClintic said, "We are laser-focused on solving pain points facing customers by offering a faster, easier, and more rewarding sports betting experience. The strategic patience to build a product for the long term has given us an opportunity to redefine a customer's expectation of what a sportsbook should be. With the Fanatics Sportsbook product foundation built and wholly owned, customers should expect unparalleled speed of feature improvement, delivery, and innovation."
Slot Game of the Week
Cyber Wildz, Greentube: RTP 95%
This week, we're discussing a new slot game from Greentube, Cyber Wildz. This vibrant, electrifying, and dystopian slot looks downright awesome and plays like a dream. It's set on a 6x5 grid, with 15 pay lines, and it comes with plenty of multiplier action, free spins, and a whopping max win of 20,000x the bet!
There are 9 regular symbols and two special symbols: Kray-Z the Reaper, which is the wild, and Y-Pout the Assassin, which is used in the bonus round. Kray-Z characters help you make wins in the base game by subbing other symbols, and they come with random multipliers of 2, 3, or 5. If you land more than one multiplier on a winning line, they'll multiply each other for even bigger wins.
The bonus round is free spins, and you'll need to land 1 scatter symbol on reels 1 and 6 to trigger it. This takes you to a new set of reels, with multipliers sitting atop. Only Kray-Z and Y-Pout symbols land during the round, each with a multiplier attached. The multiplier is added to the total above the reel where the symbol lands and the spins re-set to 3. The round ends when your spins run out or no Kray-Z or Y-Pout symbols land. The total win for the round is then calculated as the bet x the sum of all the multipliers sitting above the reels.
Ready to take a look at what the future of slot gameplay looks like? Take Cyber Wilds for a spin from $0.20 up to $10 a round at these Greentube Games Casinos.