CasinoBeats has highlighted the latest financial results from major players in the gaming industry, including Bally’s Corporation, Catena Media, and Super Group, alongside a new initiative from the Betting and Gaming Council.
Bally’s Corporation reported strong growth in the UK, with online revenues rising nearly 12% in Q3 2023 compared to the previous year. However, the company saw an overall decline of more than 5% in International Interactive revenue year-over-year, affected by poor performance in markets outside the UK.
Bally’s total revenue was $630 million, marking a slight decrease from $632.5 million in Q3 2022. The gaming revenue increased to $523.9 million from $508.9 million, while non-gaming revenue dropped from $123.6 million to $106.1 million. International Interactive revenue specifically fell by 5.3% to $230.9 million from $243.9 million in 2022. CEO Robeson Reeves attributed the UK growth to high active customer levels and improved Average Revenue per User, despite challenges in non-UK markets, particularly in Asia due to logistical issues. The adjusted EBITDAR for this segment rose to $90 million, reflecting a 5.3% increase from the previous year.
Catena Media faced significant challenges, experiencing a 33% decline in Q3 revenue to €10.7 million, with North American revenue down 29% to €19.5 million. The number of new depositing customers dropped 32%, totaling 27,342. CEO Manuel Stan described the quarter as tough, linking the downturn to poor performance in online sports betting and the end of several media partnerships. Despite this, cost-cutting measures improved the adjusted EBITDA margin from 1% in July to 18% in September. Stan provided a cautiously optimistic outlook for the company's North American casino revenue, which showed slight improvements when excluding prior quarters’ impacts.
The Betting and Gaming Council recently unveiled its first Code Handbook, mandating that at least 20% of slot machine top screen imagery promote safer gambling. These guidelines aim to enhance the visibility of responsible gambling messages in the casino sector and have already been integrated into practice. CEO Grainne Hurst expressed pride in this milestone, marking the BGC's fifth anniversary.
Super Group achieved record revenue of €402.9 million in Q3 2023, a 13% increase year-over-year, with constant currency growth at 15% to €410.9 million. This growth was attributed to expansions in Africa, Europe, and North America, primarily Canada, though there were declines in the Middle East and Asia-Pacific. By product, online casino revenue hit €330.2 million, sports betting brought in €67.1 million, while brand licensing and other revenues totaled €3.7 million and €1.9 million, respectively. Monthly active customers surged 17% year-over-year, reaching 4.7 million.
