CasinoBeats delves into the fascinating numbers that drive some of the most interesting stories in the gambling industry. The latest headlines include Evolution Q4 2023’s financial results, the gambling industry in the UK as well as a GambleAware report on the LGBTQ+ Community.
Evolution has released strong numbers for the fourth quarter of 2023. Operating revenues increased by 16.6 percent YoY, reaching EUR475.3m. (Q4 2022: EUR407.5m).
However, even though the overall performance was positive, the only improvement in the live casino sector was a 3.7 percent YoY drop to EUR69.8m. (Q4 2020: EUR72.5m).
Martin Carlesund, the CEO of RNG noted that even though revenue fell in 2018, he was “happy” about the progress made. He also stated that the company aims to continue “step-by step improvements” over the coming year.
Evolution’s live casino revenue increased by 21.1% YoY, to EUR405.6m. (Q4 2020: EUR334.9m).
EBITDA increased by 20,5% to EUR337m, (Q4 2020: EUR279.5m). This corresponds to a 70.9 percent margin (Q4 2010: 68.6%). The profit for the quarter was EUR282.9m, compared to EUR223.5m in Q4 2022. Earnings per share were EUR1.32 (Q4 2020: EUR1.05).
The supplier’s operating revenue for the year was EUR1.8bn (2022: EUR1.5bn), up by 23.5%. EBITDA grew by 25.7% to EUR1.3bn (from EUR1bn in 2022), which corresponds to a 70.5 percent margin (2022: 69.5%).
The profit was EUR1.1bn (compared to EUR843.4m in 2022), the earnings per share were EUR5.01 (compared to EUR3.95), and the Board is proposing an annual dividend of EUR2.65 for each share.
Carlesund continued: “We are looking to achieve more. We want to develop games that will take the entertainment industry to a new level. We are looking to innovate, develop and break boundaries. We will be doing more than ever for our customers and our products in 2024-2025.
We will deliver new and exciting games. We will also explore types of games we don’t have yet, as well as invest in games unique to specific markets. The gap between us and the competition will increase yet again. I am looking forward to the “Product Leap” of 2024-2025.”
After a difficult period, Rank Group revealed a positive net gaming income for the six month period ending December 31, 2023.
As the firm navigated UK issues that hindered growth in land-based operations, its NGR increased nine percent.
Rank, however, increased its operating profit in the first half by PS2.7m, to PS21.7m, with PS17.5m declared for the second.
In order to counter soft trading at its UK venues the statutory operating profits stood at PS16,2m. This reversed losses of PS103m in H1 2020/23.
The group said it was prepared to face a period of transition in the UK market as new regulations are expected. This is an anticipated time that will be challenging for UK operators.
John O’Reilly Chief Executive Officer of Rank Group said that after a challenging period for Rank, due to a variety of macro-economic factors outside the company, we have begun to grow revenues. With our operational leverage we continue to improve our profitability. The group has delivered revenue growth and increased operating profits across its businesses.
We are in a good position to take advantage of the planned regulatory reforms for land that the UK Government has planned. These will be implemented by secondary legislation, which is expected to pass during the summer of 2024. The reforms are needed now to enable us to improve our offering to meet the expectations of our customers.
Tropicana Las Vegas announced it will be closing its doors April 2, ahead of demolition plans for the resort.
A memo from Vice President and General manager Arik Knapp informed Tropicana Las Vegas team members that Bally’s was moving ahead with next steps in order to replace the Tropicana with a $1.5bn new venue for Oakland Athletics.
Knowles stated: “Our anticipated closing date is April 2nd, 2024.” We will start to cancel all bookings for hotels and move all reservations made beyond April.
The company will begin the demolition of the Tropicana and complete its master plan. After that, the Athletics will receive approximately nine acres to build their stadium.
The 30,000 seat ballpark is expected to open by 2028. It will have a partly retractable roof, and an opening to the Tropicana corner and Las Vegas Boulevard to provide a great view of the Strip.
Oakland Coliseum will be the A’s home stadium until 2024, when the lease on their present home expires. After 2024, the team will play in a temporary stadium between 2025-2027. They then move to their new home in Vegas 2028.
GambleAware published a scoping study that revealed some LGBTQ+ members may have an increased gambling risk.
This study, titled ‘LGBTQ+ People & Gambling Harms : A Scope Review’ was commissioned in order to gain a better understanding of how the LGBTQ+ Community of Great Britain experiences gambling harm.
The study was completed by researchers from the University of Brighton, who analysed articles between 2000-2023 about gambling harms and their impact on mental health, finances and relationships, as well as employment.
The study also looked at the barriers that LGBTQ+ individuals face when trying to access support services in order to reduce gambling-related harms.
According to the study, “young lesbians and bisexuals and gay and bisexual males may face increased risks and experience more harm from gambling”.
Gambling harms could also be more common for gay, lesbian, and bisexual males than for heterosexuals. For women, the odds are 2.5x higher than that of heterosexuals.
Transgender women showed the greatest risk.
Summary of study: While research is still limited in this field, some evidence suggests that gambling can be harmful to people who are afraid of disclosing their sexual orientation or gender identity.
The UK Gambling Commission reported an increase of year over year in total gross gaming yield online in the third quarter 2023. This was driven by slot machines and betting on real events.
The UKGC published its Q3 operator data. It declared PS1.3bn as GGY. This is a four percent increase over the previous year thanks to an increase of GGY for slots and live event bets. GGY decreased in almost all other verticals. The Q3 figure represents a small increase over Q2’s PS1.2bn GGY.
This is the most bets or spins in one quarter, since March 2020.
In comparison with the prior year, there was also a two-percent increase in average monthly active account numbers.
The online real-event betting industry recorded a GGY (gross gain) of PS468m. This represents a 5% increase year over year. The UKGC states that the drop in the number of active accounts and bets was due to the FIFA World Cup which took place during the third quarter of 2022.
Online slots saw GGY increase by 6 per cent YoY, to PS618m. This is the highest quarter recorded since data was first collected. Number of spins increased 11 percent to nearly 22 billion. Average monthly active accounts also rose eight per cent, to 4 million.
Other gaming, including poker, generated GGY in the amount of PS15,4m. Virtual betting GGY was PS11,1m. Esports betting GGY was PS4.1m.
GamCare announced that in 2023, the National Gambling Helpline received more phone calls and chats online to offer gambling assistance than ever before.
After its increased usage, Samantha Tornton Head of Remote Services at GamCare has described it as “invaluable”.
This year the Helpline had 52,370 phone calls and chats online, which is a 24% increase over the previous year. August 2023 was the busiest ever month for the helpline.
The Christmas season of 2023 was the busiest ever, with a 39% increase year over year. People were more concerned with someone else gambling over the holidays, and others complained that they couldn’t watch television with their family due to all the gambling ads.
On 117 phone calls or online chats with advisors, the people also stated that they were gambling because of financial stress caused by cost-of living crisis.
Turnton said: “We’re used to small increases each year in the number of people who contact us. In 2023, however, there was a significant increase in the number of people who wanted to begin their journey towards recovery from gambling.
While it’s concerning that more people are seeking help earlier, advisors report an increased number of calls. It is a great way to stop gambling-related harms from getting worse. We encourage everyone to contact us if they want to talk about their relationship to it.
We understand how hard it is to talk about gambling, and are here to help. “We want to let people know that we’re here 24/7 for them, understand and can help.”