Wanabet closes sportsbook deal with SBTech

 In a recent plenary session of the Legislative Assembly, Macau's Chief Executive, Ho Iat Seng, conveyed his optimistic projection that  would see a substantial influx of visitors, surpassing the 30 million mark for the current year. He detailed two scenarios based on average daily passenger numbers, forecasting a potential visitor count of nearly 36 million if figures remain above 100,000 per day, and between 33 to 34 million if they drop to around 80,000. 

Last year, Macau welcomed over 28 million visitors, marking a significant figure despite challenges. Comparatively, in 2019, the region experienced a peak of 39.4 million visitor arrivals, underscoring its allure as a premier tourist destination. 

During the discussions in the Legislative Assembly, concerns arose regarding potential shifts in China's individual visit scheme (IVS), which could profoundly impact Macau's tourism landscape. Lawmakers voiced apprehensions about the expansion of cities eligible for IVS, foreseeing a potential surge in visitor arrivals to Macau. 

In response to these concerns, Chief Executive Ho referenced statements by Xia Baolong, director of the Hong Kong and Macau Affairs Office of the State Council, assuring that new measures would be progressively implemented. He urged stakeholders to maintain confidence in the face of potential changes. 

Highlighting the unwavering support from the central government, Ho emphasized ongoing efforts to bolster Macau's tourism sector. He cited forthcoming measures and collaborations aimed at enhancing visitor experiences and sustaining tourism growth. 

One such initiative is the  between Macau and Hengqin for tour groups. Ho expressed confidence in the scheme's potential to attract more tour groups, fostering deeper integration between the two regions and amplifying Macau's appeal as a premier tourist destination. 

Last month, Macau  a resurgence in its gross gaming revenue (GGR), amounting to MOP19.50 billion (€2.24 billion), marking a remarkable 49-month high. 

Upcoming SiGMA event: BIS SiGMA Americas 2024, find all the details .

During the afternoon of 16 April, the Netherlands’ House of Representatives made a significant decision that would reshape The representatives voted in favour of and “high-risk” online gambling, which includes slots. This move signalled a majority consensus for prohibiting all forms of targeted advertising and high-risk games such as slots.

The motions were proposed by Socialist party MP Michiel van Nispen and managed to garner just enough support to pass. The House of Representatives also approved motions for mandatory financial risk checks related to gambling and identification requirements. In total, the house voted on 114 motions during several debates held the previous week. Out of these, ten were adopted, including the ban on all online advertising and games of chance with a demonstrably high risk.

Previously, a motion for a total ban on gambling advertising proposed by MP Derk Boswijk, (pictured above), in February 2024 did not receive sufficient votes. However, a similar motion put forward by Michiel van Nispen this week managed to pass with a slim majority of 77 votes. This new ban is understood to prohibit all forms of online advertising, including targeted ads.

This decision follows the Netherlands’ untargeted advertising ban that came into effect on 1 July, 2023. As a result, mass advertising on radio, television, outdoor locations, and written media were prohibited. Sports sponsorships were also included in the ban, with a transitionary period currently in place for existing sponsorship agreements.

Another motion adopted by Van Nispen focused on online gambling with a demonstrably very high risk. The Socialist party believes that a case should be made for banning games of chance, with online slots used as the principal example. This is because players have no control over the outcome of the game. A majority of 79 MPs voted in favor of the motion.

Despite the majority support for such a ban in the House of Representatives, it will be another case to have this enshrined in law. The responsibility now falls on Franc Weerwind, the Minister for Legal Protection in the Netherlands, to review and approve the law.

Weerwind has been a strong advocate for responsible gambling but has never explicitly expressed a desire for stricter measures. In December 2023, he announced new measures to protect players, including requiring providers to contact players who have set a deposit limit of €350. Operators are also mandated to inform such players of the risks of gambling in high amounts.

Weerwind’s other proposals involve exhibiting financial amounts in euros and pushing for further research on overarching gaming limits. In October 2023, he also announced a multi-year digital resilience campaign program to combat fraud associated with online gambling.

Weerwind stated in a letter that everyone who wants to should be able to play a game of chance responsibly. However, he also acknowledged that responsible gaming can turn into problematic gambling and that players must be aware of this and be protected against it. He noted that research shows that providers encourage players to bet more money than they can afford to lose, indicating a need for more robust protective measures in the industry.

Entain Plc (LSE: ENT), has released its trading report for Q1 2024, revealing key insights into its performance and future growth strategies.

The report highlights that in improving the operational performance of the business, driving organic revenue growth. The total Group Net Gaming Revenue (NGR), including a 50 percent share of BetMGM, was up by 6 percent, and down by 3 percent on a proforma basis. This performance aligns with the company’s expectations.

In the UK and Ireland, NGR was down by 7 percent (Online -9 percent, Retail -6 percent) due to the ongoing effects of regulatory implementation. However, the company’s actions that are driving operational improvements, coupled with the levelling of the UK regulatory landscape, are expected to position its brands well for growth into 2025.

Internationally, NGR was up by 8%, and down by 2% on a proforma basis (Online -1 percent, Retail -8 percent). Despite expected softness in Australia, Netherlands, and Germany, there was a positive performance across many markets. Particularly encouraging was the return to good year-on-year growth in Brazil, driven by ongoing operational improvements initiated in 2023. However, despite strong volume growth, NGR in Italy was impacted by customer-friendly sports margins.

Entain’s Central and Eastern Europe (CEE) operations continued to perform well, with NGR up by 11 percent (Online +11 percent, Retail +9 percent) on a proforma basis. SuperSport in Croatia performed particularly strongly.

BetMGM delivered Q1 NGR up by 2 percent year-on-year, with a 14 percent market share in sports betting and iGaming in the markets where it operates. The continuing iGaming strength was offset by customer-friendly win margins across online and retail sportsbooks. Adjusting for the impact of sports margin, estimated Q1 NGR would have been high single-digit positive. BetMGM saw strong growth in customer acquisition, supported by successful Super Bowl and March Madness engagement and improving app and product capabilities. With an enhanced player experience and an exciting pipeline ahead, including more Angstrom-powered offerings, BetMGM is well-positioned to invest for future growth.

Stella David, Interim CEO of Entain, commented on the Q1 performance, expressing satisfaction with the progress being made against the company’s plan to accelerate . She highlighted the strong performances in many markets and the known challenges in others. She also noted the level of customer engagement in the US following a successful Super Bowl and March Madness, as well as the return to growth in Brazil following the changes implemented.

David emphasized that while there is still more to do, the team is fully engaged in delivering operational improvements, product enhancements, as well as greater organisational agility and efficiency. She expressed confidence in the company’s strategic priorities of organic revenue growth, margin expansion, and winning in the U.S., and believes that their continued focused execution will drive organic growth into 2025 and beyond. This detailed analysis of Entain’s Q1 2024 performance provides valuable insights into the company’s strategies and future prospects in the global sports betting and gaming industry.

In the first three weeks since , residents wagered over $659 million, according to a report released by the North Carolina State Lottery Commission (NCSLC). This report, which compiles the sports wagering activity for March, provides a fascinating insight into the impact of legalized sports betting on the state’s economy and society.

From March 11 to March 31, North Carolinians wagered $659,308,541 on sports events, including paid and promotional wagering revenue. From these wagers, they won $590,750,303. The gross wagering revenue for March, which is the less the amounts paid as winnings before any deductions for expenses, fees, or taxes, was $66,496,213. State law imposes an 18 percent tax on the gross wagering revenue generated by sports wagering activity.

The tax proceeds from gross sports wagering revenue are allocated according to the law as follows:

• $2 million annually to the North Carolina Department of Health and Human Services (NCDHHS) for gambling addiction, education, and treatment programs.
• $1 million annually to North Carolina Amateur Sports to expand opportunities in youth sports.
• Up to $300,000 annually to collegiate athletic departments at 13 state universities.
• $1 million annually to the North Carolina Youth Outdoor Engagement Commission for grants to help cover the cost of travel to in-state or out-of-state sporting events and to attract amateur state, regional, area, and national sporting events, tournaments, and programmes.
• Certain reimbursements to the NCSLC and the NC Department of Revenue (NCDOR) for expenses incurred to implement and administer the new law.

Any remaining proceeds are distributed as follows:

• 20 percent evenly among the 13 state universities to support collegiate athletic departments.
• 30 percent to a new North Carolina Major Events, Games, and Attractions Fund to foster job creation and investment in the state.
• 50 percent to the state’s General Fund.

The legalization of sports betting in North Carolina has also necessitated the creation of new rules and regulations to govern the industry. The deadline to comment on the rule-making process for the third set of wagering rules is Friday, 19 April. These rules include changes such as the elimination of the use of “Wagering Lounge” for “Wagering Facility,” the introduction of international criminal history record checks triggered by residency, and the clarification of the treatment of seized winnings from voluntarily excluded players.

The process also contains two new proposed rules. The first proposal sets a deadline for licensees to respond to a formal letter of inquiry from the commission, which will likely be used in investigations where there are specific questions and possible requests for documents from licensees. The second proposed rule addresses the inspection of wagering facilities, both pre-operational and subsequent inspections.

The legalization of sports betting in North Carolina represents a significant shift in the state’s approach to gambling. The rapid growth in wagering activity, the substantial tax revenue generated, and the societal impacts of this change are all areas that warrant further analysis and discussion. As the state continues to navigate this new landscape, it will be interesting to see how these developments shape the future of sports betting in North Carolina.