In success stories, we profile some of the key stories in iGaming this month, focusing on areas of growth, resilience and innovation.
This month’s snapshot features positive iGaming statistics, revenue climbing in Spain and Pennsylvania, new responsible gaming initiatives, and new market licenses.
Sunny Spanish Statistics
Spain records year-on-year revenue increase in Q2
Spain has seen a promising Q2 this year, beating out previous years with €216.0m (£184.7m) in revenue, a 3.4% increase. Casino contributed the most to this figure at €99.9m, accounting for 46% of the overall total. Casino revenue was also up 6.7% from last year and 0.4% from last quarter.
Betting made up €92.0m accounting for 45.6% of the total, a 35% increase from last year, whilst the remaining 9.4% came from €20.3m of poker revenue.
On average there were 54.2% more active gaming accounts per month during Q2 than last year, 991,196 up to 231,167 accounts.
Lithuania introduces online-only gambling licenses
The Lithuanian government has approved a new form of online specific gambling license as part of several amendments to the countries gambling act.
The new legislation allows online operators with at least €1.2m in capital to apply for a casino games license. Sports betting requires €289,000 and racing betting €144,000.
Previously only companies with land based operations were able to offer online products and services, with iGaming companies forced to partner with retail licensees to enter the market.
These new changes level the playing field for solely iGaming businesses, opening the market to new investment. As part of the new amendments all new licensees must pay €1m upon receipt of a license plus additional payments ranging from €100,000 to €500,000 depending on license type.
Good ‘ol Gambling
AGA study finds Americans now favour gambling
A new study from the American Gaming Association (AGA) has revealed that almost 75% of Americans back legalised sports betting.
Crucially the study reveals changing attitudes towards the industry with nearly 70% believing the gaming industry behaves responsibly, a figure that has risen by more than 40% in the last three years.
These positive statistics reflect the industry’s dedication towards creating safe, fun and responsible products. In fact two-thirds of adults view the industry as a positive economic contributor that provides high quality jobs.
AGA president and chief executive Bill Miller, hopes this attitude will become universal. “As legal gaming expands to new geographies and verticals, everyone engaged with legal gaming must work together to grow responsibly - our collective success depends on it.”
With Great Products Comes Great Responsibility
Responsible gambling project to launch in the Czech Republic
The Institute for Responsible Gambling (IFGR) is launching a new project bringing together 35 operators in the Czech Republic. The companies represent 95% of legal gambling in the country enabling the project to reach the vast majority of the Czech market.
Through keeping gambling a fun but “safe pastime for players” the project aims to support prevention of risky gambling, support education of players and public on the principles of responsible gambling, support cooperation with professional organisations in education and research, and the introduction of a software tool to detect high-risk gambling behaviour.
Although the Czech Republic already has substantial legislation in place to protect players, regulations are not always effective and do not facilitate systems where operators can respond quickly enough to changes in player behaviour.
The project aims to change this, through education and by establishing a network of responsible gambling professionals including addictologists, psychologists, and financial and legal advisers.
Pennies are dropping in Pennsylvania
Pennsylvania gaming revenue rises for August
Pennsylvania recorded total gaming revenue figures of $408.1m for August, a 31.3% increase from the same period last year. Retail slots contributed the most to this total at $209.8m, up $41.8m from August 2020.
Retail table games contributed $86.3m, with iGaming slots bringing in $66.3m, a large jump on last year. To be specific, August saw online gambling revenue rise 58.7% year-on-year to $88.7m.
Online Gambling was legalised in Pennsylvania in 2017 and has been making great strides ever since. As more states follow suit and regulation continues to spread, we can expect many positive stories from US iGaming.
Explore The Conexus Group
Is your business the next success story? The Conexus Group’s growth-focused services include recruitment, training, consulting and M&A advisory services. Learn more