Finance

Casinos in California: Laws, revenue and most popular gambling

In California, you can bet on a horse race, buy a lottery ticket, put money on poker in a card room and play slots at a tribal casino all in the same day. The gambling industry took a hit during the pandemic. Commercial gaming revenue after winnings shrank by more than 25% between 2019 and 2020. In 2021 it came roaring back and brought in more money than any previous year. Tribal casinos also had a record breaking year in 2021. This year's November election will decide whether to expand gambling further and allow sports betting.
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Casinos in California: Laws, revenue and most popular gambling

What You Need to Know About Gambling and Your 2021 Taxes

The deadline for filing 2021 federal tax returns looms on April 18 this year. Gambling income is reported as a gross figure and not a net result. The standard deduction for married couples filing a joint return for tax year 2021 is $25,100. For single taxpayers and married individuals filing separately, the standard deductions is $12,550 and $18,800. For those who gamble relatively modestly, they have no opportunity to deduct any gambling losses. It is not financially viable to itemize deductions. A gambling loss can be deducted only if it is less than the sum of the gambling win and the loss of money.
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What You Need to Know About Gambling and Your 2021 Taxes
CDC Gaming Reports CDC Gaming Reports 17 days
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NFL kickoff puts sportsbooks on track for revenue record, AGA says

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The United States Igaming Revenue Report — August 2022

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The Danish Gambling Authority released its latest report outlining the total gross gaming revenue reported by licensees in Q2, 2022:

Las Vegas Non-Profit Founder Gambles Away Donation Money

Joseph Lankowski, founder of New Leaf Community, took donations and gambled them away. He is in rehab for substance abuse. The organization will dissolve. The work of the organization is to stop immediately. It's not clear if they will file criminal charges. Wendy Rush, 96.3 KKLZ Las Vegas, wrote about the same man last month. She wrote that he mistreated the non-profit. Lankowki has apologized for his behavior. he plans to repay the money. and is now in treatment for addiction. His cofounder Robert Majors discovered the misconduct.
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Las Vegas Non-Profit Founder Gambles Away Donation Money
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July was the biggest month ever for US gambling

Commercial gaming revenue in the USA reached $34.27 billion in July. It was the third biggest month ever for US gambling. 2022 is well positioned to be another record year for commercial gambling in USA. The growth is more apparent when comparing June and July of the current year.
Finance

Kalkine Media explores five US casino stocks to watch in October

The casino sector comprises firms from the gaming industry that offer leisure and other related services through resorts and casino gaming properties. Las Vegas Sands Corp. (NYSE: LVS), Wynn Resorts, Limited (NASDAQ: WYNN), MGM Resort International (NYSZ: MGM), Caesars Entertainment, Inc. ( NASDAQ : CZR), and Boyd Gaming Corporation ( NYSE: BYD) are among the prominent players in this segment. The casino segment was one of the worst-hit sectors during the COVID-19 pandemic. However, the stocks noted gains on September 21.
Finance
Kalkine Media explores five US casino stocks to watch in October

DGE reveals August gaming revenue results

DGE reveals August gaming revenue results. Total win accumulated by the casinos stood at $274m in August. Internet gaming win fetched $131.4m registered over the period. Sports betting results stood $65.3m or up 25.5% from $52m. Year-to-date gaming revenues were $3.38bn or 13.2% up from $2.99bn a year before. New Jersey remains a hub for gaming, sports betting, and gambling in general. Atlantic City casinos are being urged to ban smoking on casino gaming floors.
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DGE reveals August gaming revenue results
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Why Did NJ Online Casino Revenue Drop in August?

The end of summer is an important time for the online gambling industry. Revenue tends to be on the decline or growing more slowly. People are outdoors more and off on vacation. There are also seasonal effects on crossover from companies’ sportsbooks.
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Why Did NJ Online Casino Revenue Drop in August?

​ Bragg Gaming and Bally's Interactive Partner for Content Development

Bragg Gaming Group has entered into an iGaming content development partnership with Bally’s Interactive. Baly's Interactive will launch content from Bragg”s proprietary slots studios, including Atomic Slot Lab and Indigo Magic. Brags will distribute titles via the Company“RGS from a select number of Blys‘ third-party partner studios.
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Sydney casino ordered to pay $320k to disabled man for refusing to cash out win

David Joe won $285,000 with help from Lois Lie at The Star. The casino refused to hand over the winnings, because Lie was banned from the premises. A Sydney court ruled the money cannot be withheld. Joe was the one taking all the economic risk by telling Lie which buttons to press and providing all of the wagered money. The Casino was ordered to pay almost $320,00 including interest. It was also ordered by the court to cover the legal costs. They will pay the jackpot to the Responsible Gaming Fund.
Finance
Sydney casino ordered to pay $320k to disabled man for refusing to cash out win

Bragg Gaming Group (BRAG) and Bally’s Interactive Partner for Content Development

Bragg Gaming Group has entered into an iGaming content development partnership with Bally’s Interactive. Baly's Interactive will launch content from Bragg”s proprietary slots studios, including Atomic Slot Lab and Indigo Magic. Brags will distribute titles via the Company“RGS from a select number of Blys‘ third-party partner studios.
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Foxwoods Slot Revenue for July $34.3M

Foxwoods Resort Casino reports slot revenue of $34.3 million for the month of July 2022. This results in an $8.6 million direct payment to the State of Connecticut. The payment is in accordance with the Mashantucket Pequot Tribal Nation’s long-standing slot revenues contribution agreement.
Finance
Foxwoods Slot Revenue for July $34.3M

New Jersey gaming revenue climbs 10% to $470 million in August

New Jersey's gaming revenue for August 2022 reached $470.6 million. In-person casino win reached 4.4% growth year-over-year. Five of the nine casinos reported increases in the amount of money won compared to a year earlier. Online gambling saw $131.3 million in winnings. Sports betting reached $65.5 million, a 25. 5% increase compared with 2021. The Borgata had its second-best month ever in August, trailing only the $124 million it won from gamblers in July.
Finance
New Jersey gaming revenue climbs 10% to $470 million in August
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ZITRO IS SET TO EXHIBIT ITS LATEST INNOVATIONS AT G2E LAS VEGAS 2022

Zitro will exhibit its new product lineup at the upcoming G2E Las Vegas, to be held on October 11-13 at Venetian Expo. At booth #4449, the company will showcase its latest innovations designed to drive revenue growth and player engagement. Zitra will also showcase a diverse lineup of games featured on the 4 different GLARE form-factors. The company is proud to offer high quality products and the most reliable service and technology.
Finance
ZITRO IS SET TO EXHIBIT ITS LATEST INNOVATIONS AT G2E LAS VEGAS 2022

Detroit casino revenue makes year-on-year recovery in August

Table games and slots made up $104.4m of this, down by 6.9% from August 2021 and down 1.5% year-on-year from July. MGM casino contributed $50.3m, MotorCity $32.2m and Hollywood Casino at Greektown $21.8m. The three casinos paid $8. 5m in gaming taxes to the state of Michigan and $16.7m to Detroit.
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New Jersey Gambling Revenue

New Jersey's casinos, horse tracks and sports betting partners won $470.6 million from gamblers in August. The amount of money won from in-person gambers at casinos was nearly $274 million.
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New Jersey Gambling Revenue

HR Bristol casino generates $14 million in revenues in August

The Virginia Lottery released its casino gaming activity report for the month of August for activity at Hard Rock Bristol. The casino generated $14 million in adjusted gross revenues from slots and table games. This is a more than $2 million increase over the July. An 18 percent tax assessment generated over $ 2.5 million.
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Casino investors should share in dirty money risks

Star was found unfit to run a casino. James Packer was forced to exit Crown as a condition of keeping the licence. He and other shareholders cashed in handsomely on the sale to private equity. Blackstone is taking over Crown Resorts and its licence and is interested in keeping it. The company is a global private investment group. It is not clear if the company will be able to keep its casino licence in the future.
Finance
Casino investors should share in dirty money risks

MD Casinos Generate $169M in August Revenue

According to Lottery and Gaming, the total represents an increase of $892,605 (0.5 percent) compared to August 2021. Contributions to the Education Trust Fund in August 2022 were $51,496,162, a decrease of $293,463 (1.6 percent). Casino gaming revenues also support local communities and jurisdictions home to casinos, Maryland’s horse racing industry, and small, minority- and women-owned businesses.
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MD Casinos Generate $169M in August Revenue

Bragg expands iGaming reach in Czech Republic

Bragg Gaming Group has partnered with Merkur in a deal that extends its reach in the Czech Republic. Merksur's player account management (PAM) solution is now powering the Gauselman Group subsidiary's operation in that country.
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Bragg expands iGaming reach in Czech Republic

Bragg Gaming goes live in Czech Republic with Merkur

Bragg Gaming has launched Player Account Management (PAM) platform with Gauselmann Group’s Merkur brand in the Czech Republic. PAM provides MerKur with an all-in-one platform to run its casino operations with a single account, single wallet, omnichannel and cross-product platform. Bragg”s own studios and titles from its exclusive partners are also available, as well as an aggregated casino offering from an extensive range of suppliers.
Finance

7 Ways to Play at This Coachella Valley Casino-From Slots to Comedy Shows

Coachella’s Spotlight 29 Casino is brimming with Las Vegas vibes. It features everything from slot machines and table games to live entertainment and high-quality dining options. On Nov. 11, Blake Shelton will be performing a Salute to Our Heroes concert in honor of Veterans Day. Chris Tucker will perform a stand-up comedy act on Oct. 14. Tickets start at $70.
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7 Ways to Play at This Coachella Valley Casino-From Slots to Comedy Shows

ORENES GRAN CASINO CASTELLÓN HAS BET ON ZITRO’S 88 LINK

Orenes Gran Casino Castellón has added Zitro's 88 Link to its gaming offer. The game is recognized for its remarkable success in many markets around the world. It features high-definition graphics, the state-of-the-art sound system and attractive game mechanics. The Allure Glare cabinet deploys three 27-inch HD monitors.
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ORENES GRAN CASINO CASTELLÓN HAS BET ON ZITRO’S 88 LINK

GST on Online Gaming: GoM to tax casinos, gaming and horseracing separately

The Group of Ministers (GoM) on Monday decided to tax horse racing, online gaming and gambling separately. The GoM is still undecided and has sought legal opinion before submitting the final report of the goods and services tax (GST) levied on the industry. In July, the report recommended that online games should be taxed at 28%. The government had formed the eight-member panel last year in May for better valuation of services of casinos, gaming portals and race courses for levying GST. The report will be presented in the next 7 to 10 days.
Finance
GST on Online Gaming: GoM to tax casinos, gaming and horseracing separately

GoM on casinos, online gaming taxation may finalise report in 7-10 days

The Group of Ministers (GoM) on taxation of casinos and on Monday met and decided to seek legal opinion on valuation criteria for all these segments. The GoM is headed by Meghalaya chief minister Conrad Sangma. Other members of the GoG are Goa Panchayati Raj Minister Mauvin Godinho, Tamil Nadu Finance Minister P Thiaga Rajan, Uttar Pradesh Finance minister Suresh Khanna and Telangana FinanceMinister T Harish Rao.
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GoM on casinos, online gaming taxation may finalise report in 7-10 days

NJ Judge Scales Back Casino Tax Breaks

A New Jersey judge has struck down a state law amendment reducing the payments in lieu of taxes casinos must make to local government entities. The judge ruled that industry-specific tax breaks don't carry out the public purpose intended by the PILOT program.
Finance

Dutch regulator issues cease-and-desist order to LCS Limited

LCS Limited is accused of offering online games of chance to consumers in the Netherlands via its Sons of Slots brand. The KSA carried out checks on two occasions, first on 8 March and again on 12 July. Players were able to deposit funds and play games via the Slot-of-sons.com website despite the operator not having a licence to operate the site in Netherlands.
Finance

Colombia's tax agency to increase control of gaming and casino operators

Colombia's Directorate of National Taxes and Customs is going to increase the control and inspections of the activities carried out by the operators of games of chance, bets, and casinos in the country. A day of control will take place in different cities of Colombia. The President Gustavo Petro presented a tax reform bill in August. He proposes to remove the current exemptions and unify a 20% withholding for occasional gain to the prizes of bettors in all the gaming and turf verticals.
Finance

Casino Royale fundraiser for museum a safe bet

The Mount Airy Museum of Regional History is organizing a Casino Royale Night at the Museum on Saturday, September 17th from 6:30 to 10:00 p.m. The event is their biggest fundraiser and brings in 12% of their operating budget. It is also a learning opportunity for people to learn how a game like craps works. A package of two event tickets with one Drawdown entry will cost $125. There will be a $5,000 cash prize for the winner. The first number drawn from the fixed number of entries will come from consolation winners.
Finance
Casino Royale fundraiser for museum a safe bet

ONLINE CASINO SLOTS DEVELOPER 2022

Livespins has partnered with an iGaming streaming and casino platform to expand its presence. Livespins streamers will be able to access their full portfolio of online casino and slot games.
Finance

Moore vs. Valdes: One of the First Boxing Matches Funded by a Casino

The first boxing match in Las Vegas took place on a baseball field in Cashman Field in 1955. The match was organized by local casino bosses for $100,000. Boxing has been a part of Sin City's heritage since the mid-fifties. Sin city is bereft of sports franchises. It has three professional teams, Las. Vegas Raiders, Vegas Golden Knights and Las Las Aces.
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Moore vs. Valdes: One of the First Boxing Matches Funded by a Casino

Pennsylvania casinos reach new record for gambling revenue

Pennsylvania casinos and gaming operators in the state set a new annual record for gambling revenue. The revenue for the fiscal year 2021-2022 is $5 billion. It is 30% higher than the previous year's $3.9 billion figure. Hollywood Casino York had total revenue of $77 million for this fiscal season. The Hollywood casino at Penn National Race Course in Dauphin County had revenue increase of 51.86% over the year 2020-21.
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New PAGCOR chief says privatizing casinos an appealing option

Alejandro Tengco, PAGCOR's new chairman and CEO, says privatizing the organization's casinos is the best option for the gaming regulator. PGCOR first announced in August 2016 that it intended to sell its 47 casinos under the order of former President Rodrigo Duterte to raise funds towards the national budget. The sale of its licenses would begin in 2018. In January of this year, 17 casinos were singled out to be offered to interested parties. However, the sale was later shelved because the casinos generated strong cash flows.
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New PAGCOR chief says privatizing casinos an appealing option

What Does "Profit Tax" Mean at Online Casinos?

There is a lot of confusion about the tax on gambling winnings. Profits are tax-free, but profits are any income. The term "profit tax" is used as a generic term for income, corporation and trade taxes. It applies to all taxes on economic income which can be understood as the profit of a business enterprise.
Finance
What Does "Profit Tax" Mean at Online Casinos?

ProShare Advisors LLC Has $2.92 Million Position in Las Vegas Sands Corp. (NYSE:LVS)

ProShare Advisors LLC lessened its holdings in Las Vegas Sands Corp. (NYSE:LVS) by 2.3% in the 1st quarter. The institutional investor owned 74,932 shares of the casino operator’s stock after selling 1,803 shares during the period. ProShare Advisor's holdings were worth $2.915 million at the end of last quarter, up from $1.9 million a quarter earlier. Capital World Investors raised its position in Vegas Sates by 74.1% during last 4th quarter and now owns 34,255,198 shares. Barrow Hanley Mewhinney & Strauss LLC raised their position by 15.8% and owns 8,835,528 shares now. Invesco Ltd. raised it's position with Las Las Sands by two.7% since the fourth quarter to $327,530,000. Geode Capital Management LLC has increased its stake in LVS by 141,127 shares in last 3 months.
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ProShare Advisors LLC Has $2.92 Million Position in Las Vegas Sands Corp. (NYSE:LVS)

Indy Gaming: Slot companies’ proposed merger briefly fires up investors

The investment community was abuzz over a potential merger between two rival gaming equipment suppliers. The fervor lasted less than 12 hours. Inspired Entertainment offered AGS $10 per share, but AGs rejected the offer. Stifel Financial gaming analyst Jeffrey Stantial wrote that the merger is unique in that there is no overlap between the two companies product-wise. Truist Securities gaming analysts Barry Jonas said Inspired is focused on its European business, while AG's is concentrated in the North American gaming market. AG went public in 2018 at an initial price of $16 per shares.
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Indy Gaming: Slot companies’ proposed merger briefly fires up investors

McElroy Deutsch Wins $170K Fees Against NJ In Casino Row

The state will pay more than $170,000 in attorney fees and costs to McElroy Deutsch Mulvaney & Carpenter LLP. The firm's efforts to secure more funds for Atlantic County out of the annual payments to help fund local government services made by Atlantic City casinos.
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McElroy Deutsch Wins $170K Fees Against NJ In Casino Row

PGCB reports increase in gambling revenue in July

July's gaming revenue in Pennsylvania reached $429m. Hollywood Casino Morgantown posted the biggest increase in revenue. Rivers Casino Philadelphia posted a 13.72% decline in its revenue year-over-year. Valley Forge Casino Resort posted an improvement of 17.09% in overall revenue to $41.4m, while other casinos posted contractions. Retail slot machine revenue is down 4.03% year on year. Internet gaming revenues are up 11.15%. iGaming revenue exceeds retail gambling revenue four-to-one.
Finance
PGCB reports increase in gambling revenue in July

New Jersey Q2 Casino Revenue up by 14% Year-on-Year

New Jersey Division of Gaming Enforcement has announced second quarter results for the state's gambling industry. Net revenue grew by 14%. Five of Atlantic City's nine casinos reported lower profits than the same period in 2021. Borgata was the market leader reporting the largest quarterly operating profit of $42.2 million. Hard Rock reported $38 million in profits, up 45.9% while Tropicana profits grew 8. 2%.
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New Jersey Q2 Casino Revenue up by 14% Year-on-Year

Huntington National Bank Has $126,000 Stake in Las Vegas Sands Corp. (NYSE:LVS)

Huntington National Bank increased its position in Las Vegas Sands Corp. (NYSE:LVS) by 25.3% during the first quarter. The fund owned 3,240 shares of the casino operator’s stock after buying an additional 655 shares during that period. Capital World Investors increased their holdings in the company by 74.1% in fourth quarter and now owns 34,255,198 shares. Barrow Hanley Mewhinney & Strauss LLC increased it's holdings by 15.8% and owns 8,835,528 shares now. Invesco Ltd. increased her holdings of Las Las Sands by 2.7% to 8.701,651 shares in 4th quarter, and bought 225,742 shares for the total of $327,530,000. Geode Capital Management LLC bought 141,127 shares to boost its stake in LVS.
Finance
Huntington National Bank Has $126,000 Stake in Las Vegas Sands Corp. (NYSE:LVS)

Michigan reports 8% growth in online gambling revenue

Michigan reports 8% growth in online gambling revenue. Online gaming grew by 4%, sports betting by 40%. Sports betting revenue dropped 23%. Michigan legalized online gaming in December 2019. The state generated $798.9 million in the first seven months of the year. The first half of 2022 generated $757 million. OddsSeeker Sports editor Frank Weber predicts that Michigan will become the largest iGaming market in America.
Finance
Michigan reports 8% growth in online gambling revenue

Pennsylvania gambling revenue up in July despite land-based declines

Revenue for the month amounted to $429.1m (£355.8m/€421.7m). Retail slots revenue was down 4.0% year-on-year, but up 11.2% on June this year. The igaming sector revenue increased by 11% to £98.6m. Sports betting revenue rose 28.5% and video gaming terminal revenue fell 3. 7% for financial year to €3.3m, while fantasy sports contests revenue slipped 45. 3% to $27.4m for FY15.
Finance
Pennsylvania gambling revenue up in July despite land-based declines

NJ Online Casino Revenue Approaches $137 Million This July

NJ Online Casino Revenue Approached $137 million this July. Garden State sportsbooks totaled over $45 million in earnings. Sports betting handle dropped significantly again, just topping $531 million. The online casino revenue rose about $18 million, or 15.2% from July 2021.
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NJ Online Casino Revenue Approaches $137 Million This July

Massachusetts casinos report monthly revenue up 3% to $99M in July

Massachusetts casinos report monthly revenue up 3% to $99M in July. Encore Boston Harbor took in $64.7M, while MGM Springfield took $21.5M. Plainridge Park Casino reported $12.4M revenue. Regulators are meeting with the state's gaming interests this Thursday to discuss the upcoming sports betting market. The new gaming law was signed by Gov. Charlie Baker last week. It calls for in-person betting licenses for the two casinos, two simulcast centers, and one slots parlor.
Finance
Massachusetts casinos report monthly revenue up 3% to $99M in July

DoubleDown Interactive Celebrates 12 Years of DoubleDown Casino

DoubleDown Interactive celebrates 12 years of DoubleDown Casino. The game was launched in 2010. Doubledown celebrates the anniversary with a birthday bash on August 26 and 27, 2022. The birthday celebration starts on 14 August 2022 with the countdown that gives away free prizes. During the birthday party, players are encouraged to complete slot quests and earn a reward based on how many they complete.
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DoubleDown Interactive Celebrates 12 Years of DoubleDown Casino

Gambling revenues: Europe on the road to recovery?

Flutter Entertainment, Entain, 888 Holdings, LeoVegas, NeoGames and Table Trac all published either Q2 or H1 2022 results last week. The results have not all been favourable, with many companies continuing to fight against the implications caused by the Covid-19 pandemic, while others have struggled for various other reasons.
Finance
Gambling revenues: Europe on the road to recovery?