Each week, CasinoBeats breaks down the numbers behind some of the industry’s most interesting stories. In the latest edition we take a look at a record breaking poker, soaring gambling cryptocurrencies, financial performances and a Dutch delay.
Dutch regulator, Kansspelautoriteit, has documented a further delay in the implementation of the country’s Remote Gambling Act, with March 1, 2021, now stipulated as the anticipated date of entry.
This represents a two month delay from a revised January 1, 2021, date, which itself was pushed back six months from July 1, 2020.
Six months after the new debut date, on September 1, 2021, the Ksa says that the online gambling market will open, as well as the Central Register of Exclusion of Gambling (CRUKS) also coming into effect for both online and land-based providers of games of chance.
It was commented that the extra delay was done to ensure that there’s more room for all parties involved to prepare for the impending new law that regulates the online offer of games of chance in the Netherlands.
Gaming Realms is targeting an expanded network of distribution across the US during the next 18-24 months, as the firm grows revenue by two thirds during the first half of the year.
The developer and licensor of mobile focused gaming content saw revenue finish H1 at $5.2m, representing a 66 per cent increase from $3.1m. Growth benefited from the effects of the COVID-19 lockdown, however, the company says that it has maintained similar levels of growth post period-end, giving the board confidence in its future performance.
Breaking down that figure further, the firm’s licensing segment grew 104 per cent to £3.4m (2019: £1.7m), driven by an increase in distribution and an expanded games portfolio.
Social revenue increased 29 per cent from £1.4m to £1.8m due to heightened Slingo production, improved player management and new player engagement features.
The World Series of Poker is toasting its 2020 success after a number of long-standing records were smashed over the course of the 54 event series, which saw almost $150m in cash won.
The flagship WSOP live poker tournament in Las Vegas was postponed due to the coronavirus pandemic and, as a result, an online series of events took place at GGPoker from July 19 to September 6.
Among the records to tumble was that of the biggest online poker tournament prize ever awarded, which saw Stoyan Madanzhiev, winner of the event 77 WSOP Online 2020 Main Event, scoop $3.9m.
In total, 54 WSOP bracelets were claimed in the WSOP Online 2020 series, with the tournaments representing the first time that players located outside the US were able to compete for official WSOP bracelets online.
Cryptocurrencies created specifically for the gambling sector now have a combined value in excess of $150m, according to research from CryptoGamblingNews.com.
The data is provided by a newly-launched tracker, which reports the value of gambling-dedicated cryptocurrencies in real time, as well as providing sector wide insights and data.
With a total gambling cryptocurrency sector value of $161.83m at the time of publication, gambling-focused cryptocurrencies, such as FunFair Technologies’s $FUN token, are shown to be remaining popular among crypto traders.
Currently, the most valuable gambling cryptocurrency by market capitalisation is $WIN, a coin used to power the decentralised WINk casino, which stands at $35.7m.
Rank Group has expressed encouragement at the first few weeks of trading since reopening, however, the group acknowledged that any full recovery could take some time.
During July and August Rank has reopened 72 of 77 Mecca venues, which it says are achieving 70 per cent of prior year revenue with visit numbers now typically at 55 per cent.
Grosvenor casinos, which were only permitted to reopen throughout England on August 15, sees venues outside of London reported to be achieving 75 per cent of prior year revenue levels and consequently are cash positive. Weak trading in London sees revenue sit at around 40 per cent of prior year levels.
Driven by the groups transformational programme, Rank states that it “entered lockdown with significant momentum to revenues and profits” as well as a tightly controlled cost base and a strong balance sheet.
Group underlying net revenue for the year ending June 30, 2020, closed at $585.1m, a 15 per cent drop from £685.1m. Underlying digital NGR rose 23 per cent to £145.3m (2019: £118.5m), with underlying venue NGR dropping 22 per cent to £439.8m (2019: £566.6m). Underlying operating profit decreased 32 per cent from £75.7m to £51.1m.
The Swedish gambling regulator, Spelinspektionen, has issued a warning and penalty fee of SEK 20,000 to Liseberg following a breach in gaming responsibility which saw minors accessible grabbing machines.
It is said the Liseberg, which was granted a license in April 2019 to provide land-based commercial gaming, gaming machines at its Gothenburg venue, “has not been aware of the regulation regarding age limits in the Gaming Act”.
The machines, also known as a claw cranes among other monikers, are classified as a goods gambling machine in the country; a gambling machine that pays out winnings in the form of goods as opposed to currency.
“Due to a tip, the Swedish Gaming Inspectorate carried out a covert inspection of Liseberg on July 16, 2019,” the regulator explained.
“The results of the inspection showed that no signs about the age limit were available on the playground and that minors in the company of an adult have been seen using the grabbing machines that are in the gaming hall.”