Business
April 7, 2023
Cathie Wood’s ARK Trims DraftKings Position after Selling Over 294,000 Shares
The issuer of actively managed exchange-traded funds (ETFs) has announced it sold 294,143 shares of the operator in the context of the stock collapsing. This way, Cathie Wood’s ARK Investment Management took part in a wider market sell-off stimulated by the disappointing forecast for jobs in the private sector in the previous month. Label Label […]
Sports
April 6, 2023
Brazil’s Soccer League Desires 4% of Sportsbooks’ Revenues
The Confederação Brasileira de Futebol (CBF), Brazil’s soccer confederation, wants additional funding in the form of sports betting taxes. Amid discussions for revolutionizing the gaming system, the body asked to receive a 4% share of licensed operators’ revenues. The CBF said that the proceeds, if granted, would be distributed among its leagues. The confederation’s proposal […]
Casino
April 4, 2023
South Korea’s Foreigner-Only Casinos Record Impressive Profits
Surging economic growth appears to be the theme across many popular Asian gambling destinations, as Macau also recorded a sharp rise in revenue. Its slow recovery after the COVID pandemic allowed other gambling hubs like Korea to flourish, challenging the Chinese territory’s previously undisputed regional monopoly. The Region Suffered Tremendously during the Pandemic Korea and […]
Industry
April 4, 2023
Macau Posts Strong Revenue in March, Surpasses Expectations
After the impact of the pandemic, the gambling sector in Macau started to slowly emerge. The lifting of restrictions combined with the reopening of venues helped the industry begin its recovery. Now, a few years after the pandemic, Macau’s gaming revenues continue to rise and in fact, marked a significant year-over-year increase this March. In […]
Industry
April 4, 2023
Ohio Reports Massive Drop in Revenue and Sports Betting Handle in February
Last month, we announced that Ohio reached $1.1 billion in total sports gambling wagers in January, an impressive figure for the first month when the Buckeye State officially embraced sports betting. The second report from the Ohio Casino Control Commission issued at the end of last week has revealed that the earnings recorded by brick-and-mortar […]
Business
April 4, 2023
Colorado Betting Handle Dips in February but GGR Increases
A new report released by the Colorado Department of Revenue sheds light on the performance of licensed sports betting operators during February. Overall, the betting handle reported by operators this February hit $425.1 million. This result, when compared to the result from the corresponding period in 2022 marked a decrease, considering that back then, the […]
Business
March 31, 2023
GAN Posts Strong Q4 and 2022, Confirms Strategic Review Launch
North American business-to-business (B2B) technology provider of real money internet gaming solutions and fast-growing international business-to-customer (B2C) betting operator, GAN, released its unaudited financial results outlining the performance of the company during the fourth quarter and 2022. The company posted strong revenue growth for Q4 and 2022, complemented by growth within B2B and B2C segments. […]
Sports
March 31, 2023
March Madness Benefits Operators in Vegas and Beyond
Once again, the NCAA Men’s College Basketball Championship, also known as March Madness, attracted countless sports betting aficionados to Las Vegas. Despite its efforts to distance itself from gambling, the annual tournament continues to attract millions of punters. The Nevada Independent’s Howard Stutz reported that the West Regional Championship, which is the first time Las […]
Business
March 30, 2023
Kambi Reports Growth in 2022, Continues to Expand Product Reach
The premium provider of sports betting services to licensed business-to-customer gambling operators, Kambi, released its latest annual financial report, outlining the company’s performance in 2022, highlighting important achievements and outlining plans for the future. Released Thursday, the new report shows that Kambi’s revenue in 2022 hit €166.0 million ($181 million). This result, when compared to […]
Business
March 30, 2023
In 2022 DraftKings Spent $2M on Security, Airplane Costs for CEO
A recently-published Schedule 14A filing with the Securities and Exchange Commission (SEC) reveals financial data about DraftKings’ co-founder and CEO, Jason Robins’, expenses. The financial document points out that DraftKings spent nearly $2 million on airplane and security costs for Robins throughout 2022. Moreover, the CEO and co-founder also had some $131,607 expenses attributable to […]
