Sep 20: German regulator’s 100% channelization goal
Sep 20: German regulator’s 100% channelization goalGaming in Germany Day 1, SBC Summit Barcelona preview, California tribal gaming analysis +More
Good morning. On today’s agenda:
Gaming in Germany Day 1
All or nothing: Nadja Wierzejewski, the head of regulatory enforcement at the Gemeinsamen Glücksspielbehörde der Länder (GGL), the new German regulator, suggested that the body’s aim was “simple”. “It’s 100% legal and 0% illegal,” she suggested.
Neighborly advice: Speaking at the same event, the head of the Netherlands gambling authority, the Kansspelautoriteit or KSA, René Jansen noted it would be “interesting” to see how such measures as the €1k-a-month deposit limits work in practice and “whether it has an effect in channelisation and whether it works in terms of limiting gambling harms”.
Sympathy for the devil: Back with Germany and Joerg Hoffmann, head of gaming and betting at the law firm Melchers, suggested the sector’s frustrations on the pace of regulation should be tempered, indicating the new gambling authority was “working very hard”.
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Shay Segev: Kicking off Day 1 at 10am in Conference Room 1, the CEO at sports streamer DAZN, talks at a key moment in his company’s history after it launched DAZN Bet in the UK in August to, it must be said, a mixed reaction on Gambling Twitter.
Carsten Koerl: Sportradar’s CEO takes to the stage on Thursday at 10am in Conference Room 1 for a fireside chat. In the company’s most recent earnings, revenues were up 23% to €177.2m but adj. EBITDA was down 13% to €27.6m.
Session highlights
First PitchPrize fight: Previous E+M startup focus subjects Network Gaming, which provides sports prediction games, and white-label micro-gaming platform Kero Gaming – featured as Rush Sports – are taking part in the First Pitch competition at 11.30am on Thursday in Conference Room 2. Also in the hunt: 🎾AI sports betting data capture provider OSAI. 🔮Pari-mutuel betting protocol Paradox. 💾Skill-based PvP gaming provider Pow Gaming. 🎯Sports-betting and iCasino blockchain platform provider XRBet. Where we’re speakingE+M’s Scott Longley moderates a panel on Wednesday at 11.30 in Conference Room 7 debating whether the era of market liberlization is over.
CA tribal gaming analysis
Fresh princes: After visiting six casinos between LA and San Diego, including the Agua Caliente and Pechanga resorts, the team at Truist suggested the properties had “fresher, more diverse” slot floors compared with comparable regional market properties. They indicated the tribes look to refresh 10-25% of the slot floor annually versus 5-10% for commercial casinos.
Keeping control: On the tribal sports-betting Props 26, the tribes noted financial expectations were “modest” but the wider issue flies around tribal sovereignty. In particular, the online industry’s Prop 27 would lead “inevitably” to iCasino whereas Prop 26 would enable the tribes total control of the process.
Regional gaming analysis
While visitation may have stalled at around 80% of the levels from last summer, the team at JMP said they are “encouraged” by evidence of a 5% rise in spend per head in August and noted that there has yet to be a decline in this metric since the onset of the pandemic.
I eat cannibals: JMP suggested there is some evidence of cannibalization in iCasino states. This is a trend to watch, the analysts noted. “But we believe land-based operators with online apps can leverage their databases to cross-sell their digital product and brick and mortar casinos,” they added. 👀GGR growth in iCasino states versus all US gaming Earnings in briefEveryMatrix: Revenue increased 41% YoY in Q2 to €30.1m while EBITDA was flat at €5.2m. Regulatory changes continued to impact iCasino activities in Germany, but the group said it still managed to grow 11% YoY in the market.
Analysts in briefGenius Sports: Noting the recent news around Amazon’s Thursday Night Football programming, including the sponsorship with DraftKings, the team at B Riley also noted Genius Sports’ involvement (as revealed in an SEC filing last week) to provide augmented video technology and data-related services in connection with an alternate feed.
DatalinesPennsylvania: Sports-betting GGR for August increased 66.6% YoY to $42.2m, while net of promotions it was up 88.6% to $34m. Handle was up 7.9% MoM to $363m. iCasino GGR was up 20.8% YoY and 8.7% MoM to $107.2m. Land-based casino GGR was down 5.5% to $279.7m.
🥧Pennsylvania OSB and iCasino market shares Aug22 Connecticut: GGR for August rose 37.9% YoY to $102.6m; while in sports-betting, GGR rose MoM to $8.9m on handle, which was static at $73m. iCasino rose 6.4% MoM to $17.7m. Tennessee: GGR for August soared by 141% MoM to $24.4m on handle that rose 42.5% to $205.9m. **Sponsor's message: Spotlight Sports Group is a leading technology, content and media business specialising in sports betting. Working with the largest media companies in the world, including AS.com and Advance Local, Spotlight Sports Group, offer fully managed solutions that allow publishers to maximize revenue across their highly valuable sports betting audiences. For more information visit: spotlightsportsgroup.com NewslinesRedemption song: IGT will be redeeming $600m of its outstanding secured notes, up from the $500m previously communicated. FansUnite has tapped Centurion Financial Trust for a senior term loan worth up to C$12.3m. The cash will go towards restructuring the earn-out obligations from its acquisition of American Affiliate and eliminating $43m in contingent liability. Lottomatica has received a B1 rating from Moody’s for its proposed €350m senior secured notes, which the analysts say reflects the strong current trading performance including high single-digit online growth and a return to pre-pandemic levels in retail. The trial of Alvin Chau, the former CEO at junket operator Suncity, began on Monday. Recall, Chau was arrested in November last year by the Chinese authorities. On socialCalendar
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