for the first quarter of 2024. The company reported a revenue of $3.4 billion, marking a 16 percent increase compared to the same period last year. This growth was largely driven by the and other international markets.

However, despite the impressive revenue growth and a 46 percent increase in adjusted EBITDA to $514 million, Flutter’s net loss widened. The company reported a net loss of $177 million, a significant 59 percent increase from the $111 million loss reported in Q1 2023. This increase was partly due to a non-cash charge of $184 million following the closure of the Fox Bet brand.

In the US, Flutter’s operations contributed significantly to the Q1 revenue, accounting for 41.5 percent of the group’s total revenue. This segment reported a revenue of $1.41 billion, reflecting a year-on-year growth of 32 percent. FanDuel, Flutter’s US sportsbook, remained the market leader with a net gaming revenue market share of 52 percent and a gross gaming revenue market share of 46 percent.

In the UK and Ireland, revenue increased by 17 percent year-on-year to $861 million, with adjusted EBITDA up 30 percent to $268 million. The future performance of this segment remains uncertain following Flutter’s exit from the Irish stock market and its focus on the US market.

The international segment, which includes markets like Italy, Spain, Brazil, India, and others, reported a revenue of $797 million, up 5 percent year-on-year. The segment also saw a 20 percent growth in adjusted EBITDA. However, the sports betting revenue in this segment declined by 12 percent year-on-year, despite an 8 percent increase in iGaming revenue.

In Australia, sports betting stakes were down 19 percent, and sportsbook revenue decreased by 6 percent to $329 million. The adjusted EBITDA remained relatively stagnant at $83 million.

When excluding the US, the combined results from Australia, UK, Ireland, and the international segment amounted to a revenue of $1.99 billion, up 16 percent year-on-year, with adjusted EBITDA growth of 20 percent, totalling $488 million.

Flutter’s CEO, Peter Jackson, expressed satisfaction with the company’s performance, particularly in the US. He stated, “We have had an excellent start to the year. In the US, FanDuel’s top-line momentum is translating into strong growth in US adjusted EBITDA and market share gains.” He also highlighted the company’s focus on delivering the best products for its players, which is driving good momentum in key markets such as the UK and Italy.

Premium Leisure Corp, a prominent player in the has announced its intention to voluntarily delist from the Philippine Stock Exchange (PSE), effective from 9 July , 2024. This decision marks a significant shift in the company’s strategic direction, and it has sparked interest and

This decision to delist comes at a time of change and uncertainty for the gaming industry. However, it also presents new opportunities for Premium Leisure Corp to redefine its strategic direction and continue its growth outside the constraints of the stock exchange. As the company embarks on this new chapter, industry stakeholders will undoubtedly be watching closely to see how this decision impacts its future trajectory.

The petition for voluntary delisting was submitted to Ramon Monzon, the President and CEO of the PSE, on May 10. Premium Leisure Corp is a major investor in the City of Dreams Manila, (above in photo), a renowned casino resort in the Philippine capital. The resort is managed by a subsidiary of Melco Resorts & Entertainment Ltd, and Premium Leisure Corp earns a portion of the gaming revenue generated there.

Premium Leisure Corp is associated with Belle Corp, another company listed on the PSE. Earlier this year, Belle Corp announced its intention to apply for the voluntary delisting of Premium Leisure Corp from the main board of the country’s stock exchange. As part of this process, Belle Corp launched a tender offer for all outstanding common shares of Premium Leisure Corp, pricing them at PHP0.85 each.

The tender offer concluded on 9 May, with Belle Corp paying an aggregate consideration of just under PHP5.25 billion (approximately US$90.7 million) for just over 6.17 billion shares. This acquisition represents about 19.77 percent of the total issued and outstanding common stock of Premium Leisure Corp. Consequently, Belle Corp now controls 99.55 percent of Premium Leisure Corp.

Despite these significant changes, Premium Leisure Corp’s financial performance has been less than stellar. The company reported a net income of just under PHP279.5 million for the first quarter of 2024, marking a 55.3 percent decrease from the same period in the previous year. Furthermore, the company’s share of gaming revenue from City of Dreams Manila in the first three months of 2024 was PHP401.2 million, a decline of 43.9 percent from the prior-year period.

This decision to delist comes at a time of change and uncertainty for the gaming industry. However, it also presents new opportunities for Premium Leisure Corp to redefine its strategic direction and continue its growth outside the constraints of the stock exchange. As the company embarks on this new chapter, industry stakeholders will undoubtedly be watching closely to see how this decision impacts its future trajectory.

The Alabama State Senate has been experiencing a demise of a significant push to legalize various forms of gambling, including a state lottery. Despite the House of Representatives passing House Bills 151 and 152 with a substantial majority, the Senate did not approve the amended versions before the legislative session’s conclusion.

The proposed legislation aimed to legalize an education state lottery, electronic games of chance, raffles, and paper bingo at seven dog racing or bingo locations statewide. It would have also allowed residents to participate in national lotteries such as Mega Million and Powerball. However, tables, cards, dice, and live dealers would have remained prohibited.

The bills’ authors, Rep. Russell Blackshear and Sen. Greg Albritton, who also sponsored them in the Senate, were unable to break Alabama’s 25-year deadlock on . The last time Alabama voted on gaming, albeit unsuccessfully, was in 1999.

During a Senate test session, the two amended measures fell just one vote short of the required 21 for approval. A significant point of contention was the Senate amendments introduced in March. These amendments scaled back the bill, removing sports betting language, reducing the number of gaming venues involved, and altering the casino proposal to focus solely on racing.

Sen. Albritton, disillusioned by the exclusion of sports betting, ended up voting against the package. He expressed frustration over the state’s refusal to regulate the expanding sports gaming industry, much of which operates illegally and undercover. Albritton was also disappointed that the amended bill prevented the Poarch Creek Indians from entering a compact with the state.

The proposed legislation would have established the Alabama Gaming Commission to regulate approved forms of gambling. It also projected that a state lottery could generate annual net revenue of $305 million to $379 million, which would have been directed towards educational initiatives.

Rep. Barbara Drummond, who supported the bill in the House, expressed disappointment over the missed opportunity, especially given the bill fell short by just one vote. She highlighted the potential benefits of the bill, including healthcare for

The stalemate also frustrated those who believe there is widespread support for an educational lottery. Sen. Arthur Orr committed to pushing for a lottery bill in the next session that would give citizens the right to vote on the lottery without being hijacked by gambling interests wanting to expand gaming in the state.

However, Gov. Kay Ivey has stated she does not plan on calling a special session for the bill this year, leaving it in limbo until 2025. Despite this setback, Sen. Albritton remains optimistic about the future of gambling legislation, assuring that “the problem’s not going away. We’re getting closer.”

has once again outdone itself in Q1 2024, setting new records for net revenue and EBITDA. The company generated a staggering €39m in net revenue across all products, marking a 66 percent year-on-year growth. EBITDA also soared to an all-time high of €22 million, a 111 percent increase from the previous year, pushing the company’s EBITDA margin to a record 57 percent, up from 45 percent in Q1 2023.

This record-breaking quarter follows closely on the heels of EveryMatrix’s strongest financial results in its 16-year history, achieved just three months prior. The company attributes this stellar performance to large value client signings, multiple new client launches across all core business units, strong sports trading and innovation, and continued growth in the casino segment.

in expanding its global footprint. It was among the first iGaming technology providers to gain regulatory accreditation in Peru and furthered its progress in the US by launching its first casino aggregation partner with third-party content live on DraftKings in New Jersey.

In addition to these achievements, EveryMatrix reached a significant post-period milestone, hitting the 1,000 employee mark across 13 global locations. The company’s largest purpose-built office, housing 450 personnel, opened its doors in Bucharest, Romania. A new office was also launched in Cebu, Philippines, focusing on the data products of its recently acquired affiliate optimisation service, DeepCI.

EveryMatrix’s CEO, Ebbe Groes, (in photo above), expressed his excitement over the company’s progress, stating, “It’s mind-blowing how far we’ve come and how much progress continues to be made across the entire business.”

EveryMatrix’s casino business unit saw significant growth in Q1 2024, with operator partners generating a record GGR of €619m during the quarter, a 65 percent year-on-year increase. This led to a rise in EveryMatrix’s quarterly casino net revenue to €19.9 million, an 83 percent year-on-year increase, while EBITDA reached €13.2 million, reflecting a 132 percent year-on-year increase. The SlotMatrix aggregation product introduced 886 new games during the period.

The OddsMatrix sports division also saw impressive growth, with turnover rising 31 percent year-on-year to €1.3 billion and GGR climbing 308 percent year-on-year to €96 million. Net revenue for the business unit reached €10.5 million, up 78 percent on Q1 2023, while EBITDA hit €6.2 million, reflecting a 313 percent increase. OddsMatrix covered a record 173,000 live events in a single month, while the average monthly number of bets placed reached 39 million.

EveryMatrix’s platform division saw quarterly net revenue reach €7.3 million, up 28 percent year-on-year, with EBITDA at €3.2 million, up 13 percent on Q1 2023. The company’s affiliate platform division saw net revenue grow to €1.4 million during the quarter, up 39 percent year-on-year, with EBITDA down €0.4 million due to continued product and commercial investment.

EveryMatrix is among a select few private companies in the iGaming space that report their quarterly financial performance, providing a transparent view into their operations and growth. With its record-breaking Q1 2024 performance, EveryMatrix is well-positioned for sustained growth and expansion for the remainder of 2024 and beyond.

International Entertainment Corporation has officially taken the reins of the Casino Filipino New Coast branch in Manila, previously owned by the Philippine Amusement and Gaming Corporation (). The Hong Kong-listed company acquired the property as part of PAGCOR's privatisation initiative. 

The handover process between PAGCOR and International Entertainment's subsidiary, Marina Square Properties, Inc. (MSPI), was completed, leading to the commencement of limited operations on Thursday. The full transfer of casino operations to International Entertainment is scheduled for May 11, as per the company's announcement. 

International Entertainment Corporation underscores its commitment to regulatory compliance and responsible gambling. The company has implemented internal control procedures, including a comprehensive anti-money laundering and counter-terrorist financing program (MLPP), aligned with relevant laws and regulations. 

As part of the Provisional Licence Agreement with PAGCOR, the casino operator is obligated to remit a monthly minimum guaranteed share (MGS). In recognition of the licensee's operational commencement in May 2024, PAGCOR has granted a pro-rated monthly MGS of PHP60 million (€969,021), subject to adjustment if licence fees exceed this amount. 

With the transition now underway, International Entertainment Corporation is poised to leverage its expertise and resources to enhance the New Coast Casino's offerings and customer experience. The company aims to solidify its presence in the ' bustling gaming landscape while contributing to the local economy and community. 

During the ASEAN Gaming Summit last March, PAGCOR Chairman Alejandro Tengco stressed the vital importance of privatisation, stating, "Emphasizing PAGCOR's regulatory function through privatization is crucial for promoting fair competition and rejuvenating the industry." 

Tengco also outlined plans for the gradual privatisation of Casino Filipino properties, aiming for a leaner, more focused organization dedicated to regulatory tasks. 

Tengo said that after full privatisation, PAGCOR's revenue will mainly come from regulatory fees, licences, and a portion of gross gaming revenue, as the agency optimize operations to become more agile and efficient. 

South Korean casino operator  experienced a 228 percent increase in operating profits during the first quarter of 2024, reaching KRW48.4 billion ($35.2 million), attributed mainly to heightened participation from Japanese and mass market players.  

The reported operating profits signify a substantial surge from the KRW19 billion (€12.8 million) recorded in the previous quarter and a 154 percent rise from the corresponding period last year.  

Paradise Co. witnessed a significant turnaround in its net profit attributable to shareholders, with KRW36.9 billion (€24.8 million) recorded in the first three months of 2024, marking a departure from previous losses.  

The company specializes in managing foreigner-only casinos, including renowned establishments such as Walker-Hill, Jeju, Incheon Paradise City, and Busan Casino.  

Despite modest overall sales growth of 9.5 percent quarter-to-quarter, totalling KRW264.7 billion (€179 million), revenue from casino sales saw a notable increase of 9 percent, reaching approximately KRW102.2 billion (€69 million).  

 reported a record-breaking quarterly soft drop, with nearly KRW1.7 trillion (€1.11 billion) exchanged for chips at gaming tables. Notably, Japanese punters contributed KRW717 billion (€485 million), while Chinese gamblers accounted for KRW301 billion (€203.6 million).  

With a projected full-year EBITDA of KRW68.1 billion (€46 million), reflecting a remarkable 96.3 percent increase from the preceding quarter, Paradise Co. anticipates continued growth and profitability in the foreseeable future.  

This projection followed a 2023 revenue uptick of 112.8 percent increase compared to the figures of 2022. The group amassed KRW744.2 billion (€529.4 million) in casino revenue. This growth in annual revenue last year can be primarily attributed to the significant uptick in the table games segment. According to the company, revenue from table games soared by 118.8 percent year-over-year. Meanwhile, machine revenue also experienced an increase, rising by 51.9 percent.  

Shohei Ohtani, has agreed to plead guilty to US charges of illegally transferring nearly $17 million from Ohtani’s bank account. This case has shocked baseball fans in both Japan and America, highlighting the vulnerability of high-profile athletes to financial fraud.

The world of baseball was rocked by a shocking revelation when agreed to plead guilty to US charges of illegally transferring nearly $17 million from the athlete’s bank account. This case has sent shockwaves through baseball fans in Japan and America alike, highlighting the vulnerability of high-profile athletes to financial fraud.

Mizuhara, who had been a constant companion to Ohtani since the baseball star’s stint in the US started in 2018, was entrusted with significant responsibilities due to Ohtani’s language barrier. From answering questions at news conferences to transacting with financial advisers and opening bank accounts, Mizuhara was deeply involved in Ohtani’s affairs. However, this position of trust was exploited for personal gain.

Prosecutors allege that Mizuhara used his access to Ohtani’s finances to fuel a dangerous gambling habit. He is accused of calling bank officials and falsely identifying himself as Ohtani to authorize wire transfers from Ohtani’s bank account to associates of an illegal gambling operation. Additionally, Mizuhara allegedly purchased $325,000 in baseball cards using money taken from Ohtani’s account.

The charges against Mizuhara are severe. The bank fraud charge carries a potential sentence of up to 30 years in prison, while the false tax return charge could result in up to three years in jail. As part of a deal with Los Angeles prosecutors, Mizuhara will plead guilty to these charges, and in exchange, prosecutors would recommend a reduced sentence.

The impact of this scandal extends beyond the legal implications for Mizuhara. Ohtani, who had just won his second unanimous American League MVP award and signed a record 10-year, $700 million contract with the LA Dodgers, expressed his shock and sadness at the betrayal by someone he had trusted.

This case serves as a stark reminder of the potential risks faced by high-profile athletes and the importance of financial vigilance. As Ohtani continues his successful career on the field, the baseball community will undoubtedly be watching closely to see how this off-field drama unfolds.

Light & Wonder has reported a strong Q1 2024, marking its 12th consecutive quarter of year-on-year growth. The company generated a 13 percent year-on-year revenue increase to $756 million, driven by robust performance across all lines of business. This growth is particularly noteworthy given the company’s stated focus on organic growth over “flashy” M&A deals.

The company’s consolidated adjusted EBITDA grew 13 percent to $281 million compared to the prior year period, resulting in a margin of 37 percent for the quarter. on sustainable growth and profitability.

A significant contributor to this growth was the company’s gaming revenue, which increased to $476 million, up 14 percent compared to the prior year period. This was primarily led by continued growth in gaming machine sales, which grew 30 percent year-on-year.

The firm’s social casino business, SciPlay, also demonstrated strong performance with revenue coming in at $206 million, an 11 percent increase from Q1 2023. Meanwhile, iGaming revenue increased 14 percent year-on-year to $74 million, reflecting continued momentum in the US and international markets.

Light & Wonder’s president and CEO, Matt Wilson, expressed satisfaction with the company’s performance, particularly highlighting the success of SciPlay and the iGaming division. Both segments achieved record revenue levels with consistent double-digit year-on-year growth.

The company’s prudent and sustainable monetisation strategy has proven effective, with average monthly revenue per paying user and average revenue per daily active user reaching new highs. This success is a testament to the investments made in the SciPlay engine and user acquisition.

Looking ahead, on reinvesting in the business to further scale revenue and profitability. The company plans to enhance value through its share repurchase programme, while maintaining the rigour of its strategic capital allocation plan.

Despite queries from analysts regarding Light & Wonder’s M&A strategy, CEO Wilson emphasised that the current management team is “focused and disciplined.” The company is not in a hurry to add complexity to its portfolio through M&A, instead choosing to focus on being the leading cross-platform global games company.

Light & Wonder’s Q1 2024 performance demonstrates the company’s strategic focus on sustainable growth and profitability. With the power of the SciPlay engine and a disciplined approach to business development, Light & Wonder is well-positioned for continued success in the gaming industry.

has strategically acquired Sports IQ Analytics, an AI-powered odds provider. This acquisition is set to enhance DraftKings’ pricing capabilities, a critical component in the sports betting industry. The announcement was made by Omer Dor, CEO of Sports IQ Analytics, on LinkedIn.

The competitive nature of the US sports betting market has seen more movement in mergers and acquisitions this week. The acquisition aligns with CEO Jason Robins’ commitment to disciplined M&A activity, following the company’s recent purchase of lottery courier Jackpocket. The integration of Sports IQ Analytics into DraftKings’ operations is expected to optimize the dynamic betting markets that the company already offers.

Sports IQ Analytics, co-founded in 2018 by Omer Dor, Matthew Belzberg, Jose Alfaro, and Andrew Schwartz, has been a notable player in the industry since raising $7 million in a 2021 seed round. The company has received support from prominent sports executives, further establishing its reputation in the market.

As DraftKings fortifies its position, competitors like BetMGM and FanDuel are also investing in their platforms and technology to capture market share. With the sports betting landscape evolving rapidly, operators are focusing on products like Same Game Parlays (SGP) to enhance user experience and improve margins.

The acquisition is a testament to the collaborative efforts of the founders and the support from investors, advisors, partners, and clients throughout Sports IQ Analytics’ journey. With DraftKings’ stock trading at $43.78, reflecting a 2.27 percent increase, the company is poised for continued growth and innovation in the sports betting arena.

The 2024 Indian Premier League (IPL) has been a game-changer for the crypto betting industry, with Stake.com leading the charge. The platform has reported that more than $100 million has been wagered on the IPL after it enabled payments in rupees, marking a significant milestone in its operations.

Stake.com, a giant in the crypto betting industry, has made its flagship sportsbook by enabling This strategic move has not only expanded the platform’s currency options to six but also raised its profile in the Indian market.

The integration of the rupee as a payment option coincided with several marketing campaigns aimed at supporting Stake.com’s new market presence. These efforts have paid off, with the IPL’s soaring popularity mirrored by Stake.com’s own growth.

The IPL is the world’s most popular cricket league, with the first 51 matches of the 2024 season attracting a viewership of 510 million, according to Disney Star. Stake.com’s Director of Commercial, Jarrod Febbraio, highlighted the platform’s commitment to improving its product and making it easily accessible to as many players as possible.

Stake.com’s promotional push also included a unique offer that saw bets paid out on any team that managed to hit a six during the first four overs, even if they went on to lose the match. This resulted in $30 million being returned to players that would otherwise have been returned to the sportsbook.

While India has regulated skill-based gaming, many offshore operators continue to have a presence in the market. These operators are liable for the country’s 28 percent Goods and Services Tax (GST) on turnover, despite lacking a local licence. This has led to criticism from the local industry, with trade bodies warning that it could damage India’s nascent gaming industry.

Stake.com’s strategic move to enable rupee payments has significantly impacted its operations and the crypto betting landscape. With the IPL’s popularity on the rise and Stake.com’s innovative approach, the platform is set to continue its growth trajectory in the Indian market.