Winning Streaks stand firm: North American gambling capstones
North America and Canada continue to embrace the post-pandemic gambling boom, set to profit from indomitable winning streaks across the board. As iGaming proceeds with its steady rise in popularity across the U.S, it is set on joining land-based casinos and sportsbetting as a lucrative, day-to-day gambling venture. In Canada, gamblers continue to enjoy games and sportsbetting on their smartphones, tablets and computers. One look at the latest success stories from the continent is all it takes to assert iGaming’s prosperous future in the West.
Nevada enjoys a 17-month winning streak
The Silver State is celebrating an incredible monthly profit of $1.31 billion. Surpassing $1 billion in revenue for the 17th consecutive month, the lucrative sum marks the state’s fourth highest recorded monthly total, and the second highest specifically on the Las Vegas Strip. This major win follows an unusual revenue trend for the state, whereby July 2022 saw a decrease of 3.2% in profits compared to the previous year, but a 28.4% increase when compared to July 2019, which predated the Covid pandemic. This noteworthy expansion in profits illustrates the positive shunt the pandemic had on the state’s gambling industry, when more people turned to gambling for entertainment.
“We were down this month, yet I don’t see any softness—it was down slightly against the all-time high,” said Michael Lawton, senior economic analyst at the Gaming Control Board, in a report by Forbes. “The bar was set really high last July. We didn’t hit it, but we still came in with the fourth highest total all-time state-wide, second-highest total all time for The Strip.” When asked about the longevity of the $1.359 billion record set in July 2021, Lawton expressed doubt that it will be reached anytime soon.
Some uneven fluctuations are to be expected. A positive takeaway from this performance overview of Nevada’s gambling market is that the results are nothing short of impressive. Despite the elevated inflation, higher interest rates. and concern for a potential recession looming on the horizon, the gaming hub proved itself a sanctuary from these troubles. Gamblers flocked to their favourite casinos seemingly unphased by the storm clouds threatening Nevada’s gaming industry.
Ontario iGaming reels in CA$162 million
With 18 operators active across 31 gaming websites and 492,000 active players, it can be said that iGaming has been better embraced overall by Canada than its neighbour across the border. With access to gambling from their smartphones and tablets, players are spending an average $113 per month.
iGaming Ontario (iGO) has released its first public report of market performance since the Ontario igaming market since its 4th April launch. The periodic report covered until June 30th, ending on a staggering CA$162 million revenue from wagers of $4 billion.
Dave Forestell, chairman of iGO, commented on the present state of the Canadian market, saying “With a competitive revenue share rate and low barriers to entry, Ontario is an attractive iGaming market with a strong player base.”
Quarterly revenue reports can be expected from iGo, who are fully committed to contributing their aggregate revenue and market insights. Furthermore, iGO fully intend on releasing future reports covering a number of relevant metrics, such as player protections, demographics and the economic impact of the iGaming industry.
Join SiGMA for Malta Week 2022
After the successful completion of the SiGMA Balkans, Toronto and Dubai Summits, SiGMA Group is working diligently on this year’s edition of Malta Week. From the 14th to the 18th of November, the company’s most prominent brands will be brought together under one roof for the SiGMA Europe Summit, the premier networking opportunity of the year. The Summit at MFCC Ta’Qali is a stellar expression of European innovation in the Gaming, Esports and Emerging Tech sectors, featuring numerous panels and conferences by leading experts. Interested in joining our long list of speakers, exhibitors or sponsors? Please contact Sophie to reserve your spot, or visit our website for more information.
