Every week, CasinoBeats breaks down the numbers behind some of the industry’s most fascinating stories. Our latest headline reflection features the UK government’s proposed online slot stake limits as well as Q4 and full year 2023 results from Caesars and Bally’s. 


Online slot stake limit changes have been confirmed by the UK government, with a maximum stake limit of £2 set to be introduced for players aged between 18 and 24 from September this year.

Although this £2 stake limit is a focal point of these changes due to under-25s having “the highest average problem gambling score of any group”, a £5 stake limit is also being introduced for all players over 25.

These stake limits bring them in line with casinos, to reduce “the increased risk of significant harm and life-changing losses from online slot games” as slots “can be associated with large losses, long sessions, and binge play”.

“Although millions of people gamble safely every single day, the evidence shows that there is a significantly higher problem gambling rate for online slot games,” commented Gambling Minister Stuart Andrew.

“We also know that young adults can be more vulnerable when it comes to gambling-related harms, which is why we committed to addressing both of these issues in our white paper.

“The growing popularity of online gambling is clear to see, so this announcement will level the playing field with the land-based sector and is the next step in a host of measures being introduced this year that will protect people from gambling harms.”

Following secondary legislation, the limits will come into force later this year in September. 

A six-week transition period will be put in place to allow operators time to be compliant with the £5 stake limit rules, followed by an additional six-week period for “the development of any necessary technical solutions” to be compliant with the £2 limit for young adults aged 18-24. 


The American Gaming Association stated that US commercial gaming achieved its third-straight year of record revenue in 2023, which included an all-time quarterly high to end the year.

According to the AGA’s Commercial Gaming Revenue Tracker, total GGR for 2023 came in at $66.5bn, a 10 per cent increase in comparison to 2022’s $60.5bn.

The year also concluded with a fourth quarter total GGR of $17.42bn, up 9.5 per cent year-over-year. Q4 2023’s December was also the highest-grossing month in industry history with $6.2bn in revenue, a 13.3 per cent uptick YoY.

Every gaming vertical across the industry, during Q4 and across 2023, saw improvements in comparison to the same period the previous year.

Including tribal gaming revenue, which will be reported later this year by the National Indian Gaming Commission. Total US gaming revenue for 2023 is expected to close in on $110bn.

AGA President and CEO, Bill Miller, said: “From the traditional casino experience to online options, American adults’ demand for gaming is at an all-time high.

“Sustaining our momentum will take unified industry efforts around combating pernicious illegal operators and growing responsible gambling efforts in tandem with the growth of the legal market—both of which the AGA is committed to lead on throughout 2024.”


Caesars Entertainment published its financial results for the fourth quarter and the full year 2023, declaring growth in net revenue, net income and adjusted EBITDA.

Publishing its financial results, Caesars declared Q4 net revenues of $2.83bn, up from the $2.82bn recorded during Q4 the previous year, but down on the $3bn reported in Q3. For the full year, net revenue stood at $11.5bn, an improvement on 2022’s $10.8bn.

Q4 net income came in at a $72m loss, an increase on the $148m loss recorded during the same period the previous year. For 2023, Caesars achieved a net income of $786m, a significant uptick on the $899m net loss registered in 2022.

Same-store adjusted EBITDA for the quarter was $930m, down from the $949m reported during Q4 2022. For the full year, same-store adjusted EBITDA was $3.9bn, up from the $3.2bn declared last year.

Reflecting on the results, CEO Tom Reeg commented, “Our fourth quarter operating results demonstrated consolidated net revenue growth, reduced net loss and stable consolidated adjusted EBITDA year over year. Results were driven by a 28 per cent year-over-year increase in Caesars Digital net revenue that generated a 10 per cent Adjusted EBITDA margin in the quarter.

“Full year results benefited from a 78 per cent increase in Caesars Digital net revenues to approximately $1bn, and an over $700m improvement in this segment’s adjusted EBITDA.”

In addition, the operator has already begun 2024 announcing further expansions to its digital operations, after agreeing to acquire the operations of WynnBET’s Michigan igaming business, securing market access with the Sault Ste. Marie Tribe of Chippewa Indians.


Kansspelautoriteit said that tackling illegal gambling providers will be of high priority for the Dutch gambling authority in 2024.

The statement follows the conclusion of two investigations the KSA conducted into the advertising of illegal gambling offers via affiliate websites and websites of online newspapers, in which it found 14 of the 33 websites investigated in violation.

According to the authority, some websites also targeted people who were registered with the country’s self-exclusion service Central Register for the Exclusion of Gambling – Cruks.

One KSA investigation focused on websites advertising illegal providers, targeting vulnerable players. The authority looked into the most visited affiliate websites and found four websites in violation. A follow-up investigation has since begun into these websites.

The other investigation sought out affiliate marketing for illegal online casinos, specifically following the ban for untargeted advertising coming into effect last July. 

In total, 10 websites were found to be advertising illegal online casinos. Following a proposed sanction decision by the KSA, five websites immediately stopped advertising, while an investigation into the remaining five websites is still ongoing.

From these investigations, it was found that seven illegal online casinos were being advertised; the authority has begun a sanction process against all of them.

The KSA added that six online newspapers were also contacted about affiliates who advertise illegal operators. All those outlets immediately removed the advertisements from their respective websites that were in violation.


Bally’s Corporation reported year-over-year growth across all revenue segments in the fourth quarter and for the full year 2023, but the company is still operating at a net loss.

Publishing its financial results, Bally’s declared Q4 consolidated revenue of $611.7m, up 6.1 per cent year-over-year (Q4 2022: $576.7m). Gaming revenue stood at $503m (Q4 2022: $461.6m).

For the full year, revenue improved by 8.6 per cent YoY to $2.45bn (2022: $2.26bn), the midpoint of the company’s guidance issued at the end of Q3. Gaming revenue stood at $1.99bn (2022: $1.85bn).

Bally’s reported a net loss for both measuring periods, although these were improvements when compared to the previous year. In Q4, the operator declared a net loss of $263.5m (Q4 2022: $487.5m net loss). For the full year, the net loss was $172.6m (2022: $425.5m net loss).

“Bally’s completed a successful 2023 with healthy results across all our business segments,” commented CEO Robeson Reeves.

“Revenues in the fourth quarter grew 6.1 per cent year-over-year to $611.7m, reflecting continued growth in our Casinos & Resorts, International Interactive and North America Interactive segments. For the full year, revenues grew 8.6 per cent versus 2022.”

CFO Marcus Glover added: “Bally’s operating teams have been focused on expense reduction and operating efficiency. To that end, we are evaluating all areas of the business and are executing initiatives to centralise certain functions and streamline others.

“We continue to make progress with our plans for the financing of the Chicago permanent casino and hope to provide additional details on those plans in the near term. In all, 2023 was an active and productive year for Bally’s and we are extremely excited by what the future holds.”

Looking ahead, Bally’s has posted its guidance for 2024, as it expects to generate revenues in a range of $2.5bn to $2.7bn and adjusted EBITDAR in a range of $655m to $695m. 


New York State Senator Joseph Addabbo’s proposed online casino bill faced backlash from almost 700 hospitality workers at Resorts World New York City Casino

Introduced by Addabbo in January, Senate Bill S8185 looks to legalise online casino gaming in the Empire State, offering licences to the four downstate casinos and the three forthcoming upstate casinos. 

However, the nearly 700 employees at Resorts World New York City Casino have accused Addabbo of undermining that implementing igaming could threaten their land-based jobs, as stated in a letter from the Hotel & Gaming Trades Council union.

“We find it appalling that you are pushing legislation that would hurt workers like us and our industry in order to benefit a handful of companies who are seeking massive profits at our expense,” read the letter. 

Resorts World workers believe that regulating online casino gambling would negatively impact land-based facilities’ abilities to drive profits as retail casino activity could decline. 

For January, the New York State Gaming Commission reported $49m in gross gaming revenue with $11.6m in gaming tax. Slots and electronic table games made up $33.9m of the state’s total revenue with traditional table games producing $14.1m and poker generating $885,334. 

“This igaming proposal undercuts the best thing about casino gaming in New York: permanent, high-quality jobs that New Yorkers can live and retire on,” added the union’s Political Director Bhav Tibrewal.