CasinoBeats provides weekly breakdowns of numbers that help to explain some of the most fascinating stories in the industry. Our latest headline recap includes a variety of financial reports, whitepaper comments from Flutter Entertainment, the “statistically stable problem gambling rate” in the UK, Videoslots challenge in Holland, and funding provided by GambleAware.
According to the UK Gambling Commission, the overall problem gambling rate remained stable at 0.2% in the year ended December 2022. This is a marked improvement on the 0.3% recorded one year ago.
The regulator’s latest data set showed that the low risk rate was at 1.7% (2021: 1.9%), while the moderate rate saw a “significant rise” to 1.3% (2021: 0.8%).
The Betting and Gaming Council stated that the publication was “further proof of the positive advances we have made in safer gambling”.
The industry body noted that these figures “underline our urgent appeals for ministers to adopt a truly evidence-based approach towards the forthcoming white paper.”
Videoslots will challenge the largest fine ever assessed by the Kansspelautoriteit. They branded the sanction absurd, and accuse the Dutch regulator of acting illegally.
The latest financial penalty was a EUR9.87m, which was not listed by the Ksa at publication. The operator vigorously denied the allegation.
Videoslots claimed that the Ksa “abused the mystery shopping system” by applying the sanction. This suggests that the regulator “calculated a fine based upon several guesstimates”.
The operator provided details about what caused this. He stated that the logo of the regulator was only visible for a brief time while preparing for a Ksa request in April 2022. It was noted that the logo was “quickly taken off”.
Videoslots stated that the Ksa attempted to sign up as a Dutch customer, after being made aware of this. However, the system was ineffective. The regulator may have accessed the site from Germany as a German customer before placing a deposit and making a single wager of 20 cents.
A GambleAware aftercare funding programme awarded PS2m to ten Great Britain-based organisations.
This initiative was launched in June 2022. It aims to support organisations that help people who are recovering from long-term gambling addiction. They will also receive any additional support that they may need to live happy, healthy lives.
The “rigorous selection” process that included a panel of experts and two people with lived experience led to the selection of those who were chosen.
These ten people were selected because they demonstrated their willingness to help those who have suffered from gambling harm.
An energetic World Cup saw Peter Jackson declare that a galvanized FLatter Entertainment had its mojo back. The group’s Chief Executive was questioned in an earnings call for 2022.
Jackson reflected on the overall performance of each region, US listing, Indian uplift, and UK whitepaper as gaming and betting increased revenue by 27 percent to PS7.69m (2021 : PS6m).
Jackson expressed concern about the delayed second point and noted that “we have made enormous strides forward really focused upon doing the right thing.” He suggested that other operators would be encouraged to “encourage others to pick up the slack” and “join us”.
Bally’s promised its investors that it would “play to our strengths” in North American interactive to avoid making the same mistakes as before.
On the operator’s fourth quarter financial results call, the current President of Interactive and the incoming CEO Robeson Reeves stated that the company was “in it for a long time” and would adopt a “smart approach to igaming.
Later in the week Monkey Knife Fight announced that they would be closing down operations. Bally’s seeks to reverse the trend of millions of interactive losses, which were recently called “simply unacceptable” by Reeves.
MKF posted on social media that they had “regretfully” announced that Monkey Knife Fight was closing permanently as of February 31st.
“When Monkey Knife Fight began in 2018, we wanted the daily fantasy sport game to be revolutionized,” stated the group. They had already risen to prominence and supported major players draftKings, and FanDuel.
Vince Sadusky is the CEO of IGT and explained how the company can meet its 2023 expectations of double-digit revenue growth in PlayDigital.
Sadusky stated that the company had published its fourth quarter and full-year 2022 financial statements. He added that it was able achieve all of its financial goals.
The total revenues reached $1.09bn which is a four percent increase year-over-year. Q4 2021: $1.05bn. PlayDigital grew by 56 Percent to a record $65m (2021 : $42m). This was due to organic growth and market expansion.
IGT expects to generate revenue between $4.1 billion and $4.3 billion in 2023. The PlayDigital segment is expected to experience double-digit revenue growth.
Light & Wonder stated that the group is “excited for our future” and that it sees strong momentum continuing after reflecting on 2022, which Matt Wilson described as a “pivotal” year for the group.
The group’s revenue increased 18% to $682m (in comparison, $580m in 2021), and double-digit growth was observed across all reporting segments.
Gaming operations held the largest share thanks to a 18% increase in revenue to $438 million (2021: $372m). This was due to strong content performance and year on year growth in North American locations.
SciPlay’s quarterly revenue record was $182m. (2021: $154m). The acquisition of Alictus and the strong performance of the core social casino business were also praised.
The igaming Division saw a 15% increase to $62m (2005: $54m). However, the $4m loss due to foreign-currency translations due to strengthening US Dollar was offset by sustained US momentum and ongoing investments that support continued growth.