In the USA, commercial gaming revenue has reached $17.63 billion in Q2 2024. This figure represents the "highest-grossing Q2 performance on record" according to the American Gaming Association. This marks the 14th consecutive quarter of revenue growth for the industry.

In this period, 24 states saw an increase in gaming revenue compared to the same quarter last year. The commercial gaming sector generated $3.73 billion in state taxes.

Both land-based and online gaming sectors experienced growth. Land-based gaming, which includes physical casinos and sportsbooks, accounted for 71.4 percent of the total revenue. Online gaming, while still growing, saw its growth rate slow from nearly 44 percent in Q2 2023 to 32.5 percent in Q2 2024, and contributed the remaining 28.6 percent of the revenue.

Revenue from brick-and-mortar casinos reached $12.49 billion in the second quarter, a 1.8 percent increase from the previous year.

The sports betting sector saw a 35.3 percent year-over-year increase, driven by new market entries in Kentucky, Maine, North Carolina, and Vermont. Americans wagered $31.75 billion, which translated into $3.16 billion in revenue.

Regarding iGaming, online casino games and other digital gaming platforms set a new record with $1.98 billion in revenue, marking a 26.1 percent rise from the previous year, as iGaming was finally introduced in Rhode Island in March.

David Forman, AGA Vice President of Research, explained, “While sports betting and iGaming remain key drivers of revenue growth, new brick-and-mortar properties in Illinois, Nebraska, and Virginia also contributed to the rise in traditional gaming revenue. However, the overall landscape is mixed due to a broader slowdown in consumer spending, which may persist through the end of the year.”

Time to vote! SiGMA has unveiled the final shortlist for the upcoming SiGMA East Europe Awards, set to take place during the SiGMA East Europe event.?

The online gambling market in Greece is growing and is expected to continue doing so, according to recent forecasts. With projected revenues reaching $1,576 million in 2024 and an anticipated annual growth rate of 3.58 percent from 2024 to 2029, the market will reach a volume of $1,879 million by the end of the decade.

The average revenue per user is expected to reach $1,080 in 2024, with the total number of users projected to increase to 1.838 million by 2029. The user penetration rate in the Greek market is expected to be at 14.2 percent in 2024, leaving room for growth.

Online sports betting is a standout performer among the various regulated Greek verticals, with a projected market volume of $860.10 million in 2024. The popularity of sports in the country, particularly football, has been driving demand for sports betting services.

Greeks are increasingly turning towards digital platforms, which are more convenient and accessible, through websites and mobile applications. This shift is particularly evident among younger consumers who are more comfortable with online transactions. Among online gambling options, live dealer games are becoming increasingly popular.

The growth of the online gambling market in Greece has been largely influenced by the country's regulatory framework. The Hellenic Gaming Commission (HGC) has established a licensing system that ensures a regulated and secure environment for online gambling operators and consumers. This system replaced the transitional licenses that were in place until 2020-2021, leading to an increase in gross gambling revenue as operators adapted to the new rules.

Despite the regulated environment, it is estimated that around 10 percent of Greek players still gamble?on the black market, according to the Hellenic Gaming Commission.

The provider of digital marketing services for the global online gambling industry, Gambling.com Group Limited, announced its financial results for the second quarter?of 2024. The company delivered a strong performance, with revenue hitting a record $30.5 million, an 18 percent increase compared to last year. Net income soared to $6.9 million.

In Q2 2024, Gambling.com Group reported a record Adjusted EBITDA of $11.2 million, with a margin of 37 percent, up from $9.4 million and a margin of 36 percent in the prior-year period. Gross profit also saw a 16 percent rise to $29.1 million, despite a $0.5 million increase in cost of sales due to media partnerships.

Operating expenses were reduced by 15 percent to $20.8 million but was partially offset by increases in sales, marketing, and technology expenses.

Gambling.com Group’s Q2 success was marked by the delivery of over 108,000 new depositing customers (NDCs), a 19 percent year-over-year increase, across 15 national markets, covering all aspects of the online gambling industry, including iGaming, sports betting, and fantasy sports.
The company completed the acquisition of Freebets.com and related assets on April 1st, with an initial consideration payment of $20 million.
Additionally, the company repurchased 833,770 shares at an average price of $8.17 per share during the quarter, followed by an additional 798,061 shares at $8.87 per share after the quarter ended.

Reflecting its robust Q2 performance, Gambling.com Group has updated its full-year 2024 guidance. The company now expects revenue of at least $123 million and Adjusted EBITDA between $44 million and $47 million. This represents a year-over-year growth of 15 percent and 24 percent, respectively, at the midpoints of the guidance ranges. The previous guidance projected revenue of $118 million to $122 million and Adjusted EBITDA of $40 million to $44 million.

Charles Gillespie (pictured above), CEO and Co-Founder of Gambling.com Group, expressed confidence in the company’s continued growth, stating, "Our second quarter results demonstrate the power of our high-intent audience and the value we deliver to our online gambling operator clients. As we expand our footprint and leverage industry opportunities, we see a clear path to achieving our goal of $100 million in annual Adjusted EBITDA."

Elias Mark, CFO of Gambling.com Group, added, "Our faster-than-expected portfolio re-calibration has accelerated the performance of our owned and operated assets, driving our impressive Q2 results and reinforcing our resilience in both European and North American markets."

Missouri Secretary of State Jay Ashcroft has confirmed that the constitutional amendment to legalise sports betting is scheduled for 5 November. .

This development came with the backing of the initiative that include Missouri's professional sports teams and major online sports betting platforms such as FanDuel and DraftKings. Together, these two companies have contributed $6.3 million to the signature campaign. Their vested interest in expanding their market presence in Missouri will reap substantial revenue generation from sports betting. The investment in the campaign will result in significant returns for these giant betting corporates once the amendment passes.

Sports betting in Missouri has been a topic of significant debate and legislative action over the past few years. The journey towards legalization has seen numerous bills introduced, debated, and ultimately stalled in the Missouri General Assembly. However, stakeholders persisted and with substantial financial backing from leading online sports wagering platforms, the issue is at the forefront once again.

Missouri's stakeholders have different motivations to push legal sports betting. The state’s major professional sports teams, including the St. Louis Cardinals and the Kansas City Chiefs, have been vocal supporters of the initiative. These teams stand to benefit from branded wagering platforms and exclusive advertising rights in and around their stadiums. Bill DeWitt III, president of the St. Louis Cardinals, said that the potential financial benefits for Missouri classrooms will have a broader social impact as a result of this initiative.

Previous attempts to pass sports betting legislation in the Missouri General Assembly have been met with resistance and ultimately failed. The frustration of major sports teams and casino companies with the legislative process led to the launch of the current initiative campaign late last year. The public-facing aspect of the campaign has been spearheaded by the major pro sports teams, while the financial backing has come from the online sports wagering platforms.

Public sentiment towards sports betting in Missouri has been mixed. While there is significant support from urban areas like St. Louis and Kansas City, rural areas have shown more conservative attitudes towards gambling. The upcoming ballot measure will test the overall public support for sports betting in the state. Preliminary polling indicates a close race, with both supporters and opponents gearing up for a vigorous campaign in the lead-up to the November vote.

The legalisation of sports betting in Missouri carries significant economic and social implications. Proponents argue that legal sports betting will generate millions of dollars in tax revenue, which can be directed towards education and other public services. The proposed tax rate of 10 percent on net revenue after promotions is expected to provide a substantial boost to the state’s coffers. Additionally, the creation of new jobs in the sports betting industry could have a positive impact on the state’s economy.

However, opponents of sports betting raise concerns about the potential for increased gambling addiction and other social issues. The availability of online sports betting platforms could make it easier for individuals to engage in gambling, potentially leading to negative consequences for some. Addressing these concerns will be crucial for the success of the initiative, with proponents likely to promote responsible gambling and provide support for those affected by gambling addiction.

The upcoming vote on Amendment 2 has significant support from major sports teams and online sports wagering platforms, reflecting the potential economic benefits of legalization. However, the outcome of the vote will ultimately depend on the public’s perception of the benefits and risks associated with sports betting. As the campaign intensifies in the coming months, both supporters and opponents will be working hard to sway public opinion in their favour.

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