In its quarterly report, the Gaming Regulation and Inspection Service (SRIJ) posted online gambling gross revenues of $335.4 million for the first quarter of FY2025.

This marks a significant drop from a record-breaking high of $379 million posted in the final quarter of FY2024.

Player Registrations Also Down In Q1

The regulatory body has not posted a quarter-to-quarter fall in revenue since back in mid-2022. This latest fall was the largest percentage drop (at 12%) since 2018.

The quarter also saw a quarterly drop of almost 15% in new player registrations.

This all resulted in a 4% quarterly drop in revenues from the nation’s online tax levy, the Portuguese media outlet Eco reported.

Despite the surprise fall, the revenues still make for a 9% year-on-year compared to Q1 of 2024.

Portuguese Gaming Revenues: Unfavourable Sports Results to Blame?

One of the biggest falls came in the online sports betting category, where revenues dropped by 17%. This category has not seen such a big quarter-over-quarter fall since 2022.

The Portuguese Association of Online Betting and Gaming (APAJO) confirmed that a “reduction in the volume of sports betting” was to blame for the broader slowdown.

Volumes dropped by 13% year-on-year and 6% compared to the previous quarter. Gross casino revenues, by contrast, grew by 6% compared to the first quarter of 2024.

However, even this sector experienced a wider drop, falling by 8% year-on-year.

The APAJO was stoical. It pointed out that the margin in fixed-odds sports betting had been “well above average.”

And it said that much was “dependent on the sporting results which in the first three months of the year will have been more unfavourable to Portuguese bettors.”

Shutting Down Illegal Operators Still A Focus

APAJO President Ricardo Domingues said that the first quarter saw “a slowdown in some sectors and even a contraction in others.”

However, Domingues said the drop was a “natural” phenomenon in “market that is still maturing.”

He added: “Our main concern remains being able to absorb demand in the face of the threat from illegal operators.”

Indeed, the report makes mention of regulatory efforts to shut down illegal operators. It said that the authorities have blocked 129 illegal gambling operations in Q1 of FY2025.

Police and courts also ordered 54 operators to shut down in the same period.

Young Bettors Dominate Portuguese Market

The report also showed that the vast majority of Portuguese sports bettors (over 71%) wager on soccer (football) games, with tennis a distant second with 16%.

Online slots, meanwhile, dominate the casino sector, representing almost 80% of the total volume of casino bets.

Most Portuguese bettors tend to be aged under 35, the figures indicate. Almost a third of new registrations came from people aged 18 to 24. And over a third of the total number of people with betting accounts in Portugal are aged 24-34.

Last year, the regulator posted a report showing that revenue from land-based operations decreased year-on-year during Q2 of FY2024.

The post Portuguese Gaming Revenue Sees First Quarterly Drop in 3 Yrs: A Blip or a Slowdown? appeared first on CasinoBeats.

The rapid growth was largely due to the full opening of Warhorse Casino Omaha, which generated $9.8 million in revenue. The venue opened in August last year, featuring 800 slots, before the full opening in April. 

The complex now features 1,200 slot machines, as well as sports betting, thanks to a partnership with Kambi signed in 2023.

After the Omaha complex, Warhorse Lincoln Casino generated $7.8 million, followed by Grand Island Casino & Resort at $5.6 million, and Harrah’s Columbus at $2.3 million.

The four racetracks expanded into casinos following voters’ approval of an amendment to Nebraska gambling laws in 2020. The venues now complement the state’s five tribal casinos. 

There are plans to open two more commercial casinos in the state, with Warhorse opening a third venue at South Sioux City. Additionally, Elite Casino Resorts is planning a $100 million Lake Mac Casino Resort project at a new racetrack in Ogallala. The temporary casino is scheduled to open on Aug. 19.

Slots Driving Revenue To Add To State Funds

Slots accounted for over 80% of the revenue generated in May at $20.5 million. That total was particularly boosted by the expansion of Warhorse Omaha, which added 400 more machines to its floors. 

The state collects 20% of revenue on tax from casinos, equating to $4.84 million in May. Last year, the casinos generated $145.7 million, which led to $29.1 million in taxes. 

Nebraska allocates 70% of the funds to the Property Tax Credit Cash Fund, 25% to host cities and counties, 2.5% to the State General Fund, and the final 2.5% to a Compulsive Gamblers Assistance Fund. 

Nebraska Yet To Expand To Online Gambling

The four racinos in the state are now allowed to offer sports betting in addition to casino games and horse racing wagering. But plans to expand beyond in-person gambling have yet to garner support. 

A bill to legalize online sports betting made some progress earlier this year. It was voted 27-16 in favor before passing out of the General Affairs Committee. 

The bill’s sponsor, Sen. Elliot Bostar, however, withdrew the legislation, citing a lack of support to make it all the way into law. Opposition voices claimed that legalization would lead to an increase in problem gambling, bankruptcy, and drug abuse. 

Lawmakers may revisit the matter next year, and it could be put to a public vote if there is enough appetite in the chambers. 

Additionally, Sen. Tom Brandt introduced a bill to expand sports betting at the racinos. LB 63 proposed allowing pre-match and live wagering on in-state college sporting events. The bill also died in committee, however, due to a lack of support. 

There is no active push to expand gaming to allow online casinos. Nebraska has no specific law against sweepstakes, but some operators have exited the state amid a crackdown across the country. 

The post Nebraska Casinos Post Record Revenues In May, Increase Nearly 150% Year-Over-Year appeared first on CasinoBeats.

Sportsbooks (online and retail) raked in $88.8 million in revenue, an impressive 31.7% growth from last year, while retail casinos generated $91.6 million, up 8.4% year-over-year.

Sportsbooks Post Best Month of 2025

Ohio sportsbooks recorded their most profitable month this year with $88.8 million in taxable revenue. That represented an impressive 31.7% increase from May 2024. The May revenue surpassed the previous best of $81 million set in January.

Bettors wagered a total of $741.3 million, representing a 21% year-over-year increase. The hold (the amount the sportsbooks retain after paying out winnings) reached 12%, also the best result this year.

Almost all betting activity was online, with $727.1 million in handle and $87 million in taxable revenue. In contrast, retail sportsbooks brought in only $14.1 million in handle and $1.7 million in revenue.

When looking at market share by handle, FanDuel and DraftKings held their dominance, while Bet365 comfortably held the third spot:

• FanDuel: $251.3M: ~33.9%
• DraftKings: $225.2M: ~30.4%
• Bet365: $68.8M: ~9.3%
• BetMGM: $48.0M: ~6.5%
• Fanatics: $41.4M: ~5.6%
• Caesars: $26.8M: ~3.6%
• Others (ESPN Bet, Hard Rock, Prime, BetJack, etc.): remaining ~10.7%

One reason for the strong May performance could be attributed to the Cleveland Cavaliers’ early exit from the NBA playoffs.

The team finished as the top seed in the Eastern Conference and was a strong contender for the Eastern Conference title. However, it exited in the semifinals round after a somewhat surprising 4-1 loss to the Indiana Pacers.

Ohio Casinos Shine in May

Ohio’s four retail casinos generated $91.6 million in May, a growth of 8.4% compared to May 2024 and 3.5% compared to April 2025. The May figures represented the second-highest month this year, trailing March’s $94.5 million.

Hollywood Columbus Casino led the way with $25.8 million in revenue, up 9.3% year-over-year. May marked the third straight month with over $25 million in revenue for Hollywood Columbus.

Jack Cleveland Casino took the number two spot with $22.3 million in revenue, up 4.6% year-over-year.

Hard Rock Cincinnati closely trailed with $22.2 million, representing an 8.4% increase compared to May 2024. Meanwhile, while Hollywood Toledo Casino generated the least revenue, $21.4 million, it posted the highest year-over-year growth, 11.3%.

Of the total May revenue, slots generated $68.4 million, while table games brought in $23.3 million.

Balanced Budget Reduces Pressure for iGaming Expansion

May’s record-breaking results arrived as Ohio finalized its fiscal budget for the coming years.

On July 1, Ohio Gov. Mike DeWine signed Ohio’s operating budget for fiscal years 2026-2027. As required by the state constitution, the budget is balanced, with a positive year-end balance and a well-funded stabilization (rainy day) reserve.

Thanks to this strong financial position, earlier proposals to raise taxes on gambling or legalize online casinos appear to have lost momentum.

Earlier this year, DeWine’s budget proposal included doubling the tax on sportsbooks from 20% to 40%. However, lawmakers rejected his idea.

In May, Sen. Louis Blessing proposed adding a 2% tax on the total wagers placed in the state in addition to the existing tax. The new tax would have made Ohio only the second state to tax the handle and the only one to tax both the handle and adjusted gross revenue.

For context, in May, that 2% tax would have translated to approximately $15 million in extra tax revenue. That potential revenue has not sparked much debate, as the bill has made no progress since its introduction.

Also in May, two separate bills were introduced to legalize online casinos in Ohio. The proposals differed significantly in their tax structures. One called for a flat 28% rate, while the other proposed rates ranging from 36% to 40%.

Still, even the lower rate would’ve brought in $400 million to $800 million annually in tax revenue, according to its proponents.

While the two iGaming bills have also not made any progress, the Ohio legislature operates on a two-year cycle. That means both measures will carry over into 2026.

Although the budget is balanced, online casinos could provide additional means to diversify revenue streams to fund new initiatives or bolster reserves.

The post Ohio Gambling Industry Sees Record May With Strong Revenue Gains for Casinos and Sportsbooks appeared first on CasinoBeats.

Data released last week by the Massachusetts Gaming Commission showed taxable betting revenue reached $52.1 million, a 12.8% year-over-year increase. However, this was also 20.6% behind February and marked the lowest revenue return for any month since October 2024’s figure of $48.3 million.

Online betting accounted for a significant portion of that total at $51.9 million, while the remaining $265,536 came from the state’s three retail betting locations.

Impact of March Madness Favorites on Massachusetts Revenue

Despite that dip, player spending was up significantly. The $772.5 million handle bested March 2024 by 20.3% and outperformed last month by 23%.

It was also the third-highest monthly total since legal betting launched in the Bay State in January 2023. The state record for player spending is $788.3 million, set in December 2024.

This comes after the favorites dominated March Madness, one of the most bet-on sporting events annually. In the men’s tournament, for instance, all four No. 1 seeds advanced to the Final Four for the first time since 2008 and only the second time ever.

DraftKings collected $28.4 million from a $375.1 million handle (7.57% hold) last month. This topped all online operators in Massachusetts and represented a significant increase over March 2024, when DraftKings generated $22.6 million from $323.1 million in wagers.

With $13.8 million in revenue from a $208.3 million handle, FanDuel was DraftKings’ closest competitor, resulting in a 6.62% hold. 

Next was BetMGM, which took in $4.1 million of revenue from $72.1 million in wagers for a 5.69% hold.

Rounding out the list were Fanatics ($2.1 million revenue, $48.3 million handle), Caesars ($1.7 million, $26.2 million), ESPN Bet ($1.5 million, $26.5 million), and Bally Bet ($179,586, $5.1 million).

As for retail betting, Encore Boston Harbor led the way with $197,219 in revenue from $5.6 million in bets, equaling a 3.49% hold. Plainridge Park generated $68,316 off a $3.3 million handle for a 2.05% hold. MGM Springfield, meanwhile, did not report any revenue figures from its $1.6 million handle.

Regulatory Scrutiny Intensifies Around Prediction Markets

Massachusetts is one of several states probing prediction market Robinhood, which partnered with Kalshi earlier this year to offer sports-event contracts.

On March 20, Massachusetts Secretary of State Bill Galvin issued a subpoena over the company’s decision to launch a prediction-style hub, similar to sports betting, for the NCAA men’s and women’s basketball tournaments.  

In an interview with Reuters, Galvin said he was concerned that Robinhood was “linking a gambling event on a popular sports event that’s especially popular to young people to a brokerage account.”

He added: “This is just another gimmick from a company that’s very good at gimmicks to lure investors away from sound investing.”

Prediction markets allow customers in all 50 states to buy and sell contracts on specific outcomes of real-world events such as the Super Bowl. This has ignited concerns from regulators, who liken sites such as Robinhood to sports betting.

Six states—Illinois, Maryland, Montana, Nevada, New Jersey, and Ohio—have filed cease-and-desist orders against them, and Kalshi recently scored legal victories over New Jersey and Nevada regulators. 

The post March Betting Revenue Slips in Massachusetts Despite Player Spending Surge appeared first on CasinoBeats.

The Pennsylvania Gaming Control Board revealed total revenue in the period was $3,247,599,744, outperforming the revenue delivered in 2015/2016.

Revenue for both slot machines and table games increased in the period, up 0.7 per cent and 3.3 per cent respectively, year on year.

Table games revenue was up in nine of the 12 months of the fiscal year, with total revenue in 2017/2018 of $895m compared to $866m during the prior 12 months.

Sands Bethlehem continues to hold the leading share of the table games market in Pennsylvania, as shown below.

Tax revenue produced thanks to table games was up four per cent in the period, to $144m. The estimated combined tax revenue from slots and table games for the 2017/2018 state fiscal year was $1.34bn.

The figures come shortly after the Board revealed nine casino licence holders have submitted applications to operate online gambling in the state. Those having met the July 16 application deadline can obtain a licence to offer online slots, online table games and peer-to-peer online poker for a combined fee of $10.

Those still wishing to apply have until August 14 but a licence for each category will cost $4m, amount to a potential $12m for the broadest offer.

The post New high for Pennsylvania casino as igaming looms appeared first on CasinoBeats.

In recent months, Wynn Resorts has never been far from the headlines, and very few of them good thanks to allegations of sexual misconduct made against founder and former CEO Steve Wynn.

However, DBS lowered its forecast not as a result of those accusations but due to weakened VIP gaming performance in Macau, home to both Wynn Palace and Wynn Macau properties.

Earnings forecast for Q2 have been adjusted down four per cent, to US$17m (EBITDA).

“Relative to consensus, our second-quarter property level forecast of US$522m is approximately three per cent below Consensus Metrix consensus (US$537m) as our Macau property-level estimate is approximately four per cent below consensus,” said DBS analysts Danny Valoy and Carlo Santarelli.

However, DBS maintains its “buy” status for Wynn stock.

“Our view is predicated upon continued Macau share gains, higher end Macau market gross gaming revenue strength in both the VIP and premium mass segments, strong positioning in Las Vegas where high-end trends remain sound,” said the DBS analysts.

The post DBS lowers Wynn forecast on weak Macau VIP sector appeared first on CasinoBeats.

There was also a monthly drop from January 2018, which has seen a monthly gross revenue of MOP26.26bn (€2.67bn). Analysts suggest that the timing of Chinese New Year was a factor in holding down February GGR.

However, the figures, published by the DICJ, Macau’s Gaming Inspection and Coordination Bureau, show that year-to-date figures compare favourably, with the first two months of 2018 accumulating gross revenue of MOP50.56bn (€5.15bn).

The two-month GGR represents a near 20 per cent gain on the same point in 2017.

The post Chinese New Year hits Macau revenues in February appeared first on CasinoBeats.

Casino revenue in the period was HK$15.05bn (€1,56bn), up around three per cent on 2016.

VIP gross table games win in 2017 was HK$8.57bn (€895m), a 0.7 per cent fall against the HK$8.6bn (€890m) posted in 2016, while main-floor gross table games win was up nearly six per cent, to HK$7.69bn (€800m).

Slot machine gross win also grew well in 2017, rising almost 12 per cent to HK$1.4bn (€150m).

Other non-gambling revenues were HK$302m (€31.3m) in 2017, virtually unchanged from the year prior.

Adjusted EBITDA (unaudited) for the period was HK$4.59bn (€480m), a 2.1 per cent increase on the HK$4.49bn (€470m) posted in 2016.

Operating profit, however, fell, from HK$3.1bn (€320m) in 2016 to HK$2.62bn (€270m) in 2017, a drop of 15.5 per cent.

The post Mixed 2017 for MGM China appeared first on CasinoBeats.

For the full year, Wynn Resorts net revenues leapt 41.2 per cent, or $1.84bn, up from $4.47bn in 2016. As well as the contribution from Wynn Palace, increases also came from Wynn Macau, up $221.7m, and, more modestly, from Las Vegas operations, up $62.5m.

Fourth quarter revenues were $1.69bn across the portfolio, up 29.9 per cent or $388.7m, on the same period in 2016. The lion share of the revenue increase came from Wynn Palace, which added revenue of $274.7m to the balance sheet in the three-month period.

Derived on the GAAP basis, net income for Wynn Resorts was $747.2m in 2017, a significant increase on the $242m earned in 2016. That jump was in part down to the additional revenue set out above but also thanks to income tax benefit as a result of US tax reform.

Adjusted property EBITDA was $1.81bn in 2017, an increase of 43.8 per cent on 2016, mostly due to the $424.5m increase from Wynn Palace.

In a statement, Wynn also said that Wynn Boston Harbor Project in the US state of Massachusetts was due to open in “mid 2019”, with $1.13bn in project costs incurred to date, against a total budget of $2.4bn.

The post Huge Cotai revenue boost for Wynn Resorts appeared first on CasinoBeats.

In statement the company said that total revenues for the period “amounted to around SEK419m [€42.6m],” while operating profit is expected to be “about SEK150m [€15.3m]”.

NetEnt cited “lower-than-expected revenue growth” as the reason results will fall short of those anticipated.

The company said: “During 2017, NetEnt phased out deliveries of games to operators in Australia, Poland and Czech Republic. In the fourth quarter, this had a negative effect on revenue growth of around three percentage points. Further, underlying revenue growth in some of NetEnt’s markets was lower than expected in the quarter.”

It added that the dividend for 2017 will be “at least in line with 2016 year’s level”.

The post NetEnt issues Q4 results warning appeared first on CasinoBeats.