Category: News

  • SPiCE South Asia 2025 to Bring Gaming Industry Leaders to Sri Lanka

    SPiCE South Asia 2025 to Bring Gaming Industry Leaders to Sri Lanka

  • U.S. Commercial Gaming Revenue Hits Record $71.9 Billion in 2024

    U.S. Commercial Gaming Revenue Hits Record $71.9 Billion in 2024

    The U.S. commercial gaming industry soared to new heights in 2024, pulling in a record-breaking $71.92 billion, marking its fourth straight year of growth. A report from the American Gaming Association (AGA) shows that while the sector expanded by 7.5% from 2023, signs of a slowdown are beginning to emerge, particularly in sports betting.

    With tribal gaming revenue yet to be added, total U.S. gaming revenue is on track to approach an astonishing $115 billion. But even as the numbers climb, December’s decline in sports betting hold rates signals a possible shift in momentum.

    Traditional Casinos Hold Strong, But Online Gaming Gains Ground

    Brick-and-mortar casinos are still the backbone of the industry, bringing in $50.32 billion—roughly 70% of the total commercial gaming revenue. Slots were the main driver, pulling in $36.06 billion, a modest 1.6% increase from the previous year. Table games, however, took a hit, slipping 1.7% to $10.14 billion.

    Online gaming, though, is growing at an incredible pace. The sector, which includes online casinos and sports betting, accounted for 30% of total revenue, pulling in $21.54 billion.

    • iGaming (online casino games) surged 28.7% year-over-year to $8.40 billion.
    • Sports betting revenue climbed 25.4%, reaching $13.71 billion.
    • Americans wagered a record $147.91 billion on sports, with 95% of bets placed online.

    December’s unexpected 2% revenue drop, largely due to lower-than-expected sportsbook hold rates, could be an early indicator of market volatility.

    States Cash In, But Growth Varies

    The gaming boom isn’t evenly distributed. Of the 36 commercial gaming jurisdictions, 28 reported record-breaking annual revenues. However, some states stood out with eye-popping growth.

    • Nebraska: Revenue skyrocketed 60.1%, thanks to new casino openings.
    • Virginia: Saw a 32.0% increase, fueled by expanding gaming options.
    • Illinois: Traditional casino gaming revenue jumped 11.0%.

    On the sports betting front, Illinois overtook New Jersey to become the second-largest U.S. market, boasting a 21.1% growth rate. Massachusetts, meanwhile, surged 38.8%, moving into the seventh spot nationwide.

    While most regions saw record gains, Las Vegas Strip revenues declined by 4.4%, signaling possible market saturation or shifting consumer habits. However, other Nevada gaming markets showed resilience:

    • Downtown Las Vegas jumped from the 17th to 13th largest gaming market.
    • Reno-Sparks climbed to the 11th spot.
    • Boulder Strip remained the 10th largest.

    iGaming: The Fastest-Growing Segment

    Online gaming continues to explode, with total revenue reaching $8.41 billion—a 28.7% year-over-year increase.

    • Pennsylvania remains the country’s largest iGaming market, generating $2.71 billion (+28.5%).
    • Michigan and New Jersey both surpassed $2 billion in annual online gaming revenue.
    • Rhode Island launched its iGaming market in early 2024, further expanding the industry.

    The final quarter of 2024 set an iGaming record, raking in $2.38 billion (+33.1% YoY), proving that online gambling is no longer just a niche market—it’s a major force.

    The Price of Illegal Gambling

    Despite the industry’s strong legal growth, illegal gambling continues to be a major concern. AGA President and CEO Bill Miller didn’t mince words about its impact:

    “Illegal operators cost the legal industry $44.2 billion in lost revenue and cheated states out of $13.3 billion in tax money.”

    He called for tougher enforcement, pointing out that illegal operators exploit regulatory loopholes and confuse consumers about what’s legal and what’s not.

    Tribal gaming also remains a key part of the industry’s landscape. Jason Giles, Executive Director of the Indian Gaming Association, highlighted its importance:

    “Indian gaming generated over $42 billion in gross revenues, which directly benefits tribal communities and citizens.”

    The Future of U.S. Gaming

    Chicagoland cemented itself as the third-largest gaming market in the U.S., helped by new casino openings that boosted its growth.

    With online gaming and sports betting continuing their rapid ascent, states will have to balance market expansion with regulatory oversight. And while overall numbers remain strong, the December dip in revenue raises questions about whether the industry’s red-hot growth streak is finally cooling off.

  • World Series of Poker Circuit Returns to Graton Resort & Casino With Over $1.2M in Prize Guarantees

    World Series of Poker Circuit Returns to Graton Resort & Casino With Over $1.2M in Prize Guarantees

    The World Series of Poker Circuit (WSOPC) is making a grand return to Graton Resort & Casino in Northern California this February. Poker enthusiasts will have their shot at 18 WSOPC gold rings from Feb. 13-24, with over $1.2 million in guaranteed prize money on the table. The biggest draw? A $500,000 guaranteed WSOPC Graton main event with a $1,700 buy-in, running from Feb. 21-24.

    A Look Back: Sasha Sabbaghian’s Victory in August

    If history is any indication, this tournament promises intense action. The same event last August drew 580 entries, far surpassing its $500,000 guarantee to create an $877,185 prize pool. In the end, Granite Bay’s Sasha Sabbaghian claimed the top spot, taking home his first WSOPC ring along with a $168,015 payday.

    This February, another wave of poker talent will battle for the coveted gold rings, and the question remains: will a new champion emerge, or will familiar faces reclaim the throne?

    High-Stakes Events With Massive Guarantees

    Graton’s WSOPC series isn’t just about the main event. A diverse schedule offers multiple six-figure guarantees, drawing both seasoned pros and newcomers alike.

    • $250,000 Guaranteed Mystery Bounty ($400 buy-in) – Feb. 13-16
    • $150,000 Guaranteed Monster Stack ($600 buy-in) – Feb. 18-20
    • $150,000 Guaranteed No-Limit Hold’em ($1,250 buy-in) – Feb. 19-20
    • $500,000 Guaranteed Main Event ($1,700 buy-in) – Feb. 21-24

    These tournaments alone make up a major chunk of the $1.2 million prize pool. Expect massive turnouts and dramatic showdowns at the tables.

    More Than Just No-Limit Hold’em

    While No-Limit Hold’em remains the star attraction, Graton’s WSOPC stop has something for every type of player. Specialty tournaments include:

    • Omaha 8/OB ($400 buy-in) – Feb. 18
    • H.O.R.S.E. ($400 buy-in) – Feb. 19
    • Pot-Limit Big O ($400 buy-in) – Feb. 20

    There’s also a Ladies Event ($400 buy-in) on Feb. 20 and two Seniors Events on Feb. 17 and Feb. 24, catering to different demographics of the poker community.

    Full WSOPC Graton Schedule

    For those mapping out their play, here’s the complete event lineup:

    Event Start Date Days Buy-in Guarantee
    No-Limit Hold’em $50K GTD Feb. 13 1 $400 $50,000
    Mystery Bounty Feb. 13 4 $400 $250,000
    Mega Stack Feb. 16 1 $400 $50,000
    No-Limit Hold’em $50K GTD Feb. 16 4 $250 $50,000
    Seniors Event Feb. 17 1 $400 $50,000
    Omaha 8/OB Feb. 18 1 $400
    Monster Stack Feb. 18 3 $600 $150,000
    H.O.R.S.E. Feb. 19 1 $400
    No-Limit Hold’em Feb. 19 2 $1,250 $150,000
    Pot-Limit Big O Feb. 20 1 $400
    Ladies Event Feb. 20 1 $400
    Main Event Feb. 21 4 $1,700 $500,000
    No-Limit Hold’em Feb. 22 1 $600
    No-Limit Hold’em Feb. 23 1 $400
    High Roller Event Feb. 23 2 $3,250
    Seniors Event Feb. 24 1 $250
    No-Limit Hold’em Feb. 24 1 $400

    The Graton Poker Experience

    Graton Resort & Casino, less than an hour north of San Francisco, is no stranger to big-time poker. Owned by the Federated Indians of Graton Rancheria, the casino is a prime poker destination in Northern California’s wine country.

    Its poker room, according to Graton’s official website, is designed for both casual and professional players. Since its inception, players have raked in over $18 million in jackpots and prizes. With 20 tables, lucrative Bad Beat Jackpots, and Daily Bonus Payouts, the Graton poker scene keeps the action going beyond just tournament season.

    The WSOP Circuit stop is just another feather in its cap, drawing national attention and top-tier competition.

  • Phil Hellmuth Says He’s Skipping the WSOP Main Event, Citing Endurance Issues

    Phil Hellmuth Says He’s Skipping the WSOP Main Event, Citing Endurance Issues

    The World Series of Poker (WSOP) just dropped its summer schedule, but the biggest story isn’t about the tournaments—it’s about who won’t be playing. On Tuesday, poker legend Phil Hellmuth, a 17-time bracelet winner, announced he’s sitting out the $10,000 WSOP Main Event for the first time since 1988.

    The reason? Endurance. Hellmuth, now 60, says the grueling format favors younger players, making it nearly impossible for older competitors to keep up. And he’s not happy about it.

    Hellmuth Calls WSOP Main Event an “Endurance Contest”

    Back in 1989, a 24-year-old Hellmuth stunned the poker world by winning the WSOP Main Event, becoming the youngest champion in history at the time. Fast-forward to 2024, and the landscape looks very different.

    “The main event has become an endurance contest,” Hellmuth wrote on Twitter. “Twelve-hour days, or longer, for six to seven days in a row is brutal and disproportionately affects older players.”

    He believes the tournament needs structural changes, arguing that most players—80% by his estimate—would support a revised format that isn’t as physically demanding.

    The 2024 Main Event wrapped up after 15 days of play, including four starting flights, two Day 2 flights, and a day off before the final table. Jonathan Tamayo, 38, ultimately took home the bracelet.

    A Tough Decision After 35 Straight Years

    Hellmuth has played in every WSOP Main Event since 1988. That streak ends in 2025.

    “It’s just too tough,” he said in a video explaining his decision. “People at home are like, ‘Phil, you can play seven days in a row.’ Yeah, try it. Try getting up and playing from noon until midnight seven days in a row.”

    On some days, play extends past 2 or 3 a.m. That kind of grind, Hellmuth says, isn’t something he can physically handle anymore.

    “I don’t think I could have done it at 50, and I definitely can’t do it at 60,” he admitted.

    The Fatigue Factor: A Game of Skill or Stamina?

    For Hellmuth, poker is supposed to be about skill, not who can stay awake the longest. He pointed out that many great players tell him they busted the Main Event simply because they were exhausted.

    “I’ve had players come up to me and say, ‘Phil, I blew the Main Event because I was too tired when we got down to 100 left, 50 left, 30 left.’ It’s turned into an endurance test.”

    Hellmuth’s solution? More scheduled breaks. He believes extra rest days could restore some balance between skill and stamina.

    “I hope that in 2026, there are some changes made so that we can restore more skill and less endurance,” he said.

    A Slump in WSOP Main Event Results

    Hellmuth hasn’t cashed in the Main Event since 2015, when he finished 417th. His latest close call came at WSOP Paradise, where he busted on the money bubble.

    While he remains one of poker’s most accomplished players, the game’s longest marathon appears to be one battle he’s no longer willing to fight.

  • Virginia Casino Revenue Surges 36% in January as Caesars Virginia Leads the Charge

    Virginia Casino Revenue Surges 36% in January as Caesars Virginia Leads the Charge

    Virginia’s casino industry is kicking off 2025 on a high note. The state’s three land-based casinos pulled in a combined $72.3 million in total gaming revenue for January—an impressive 36% jump from the $52.8 million recorded in January 2024, according to the latest Virginia Lottery report.

    The driving force behind this surge? Caesars Virginia in Danville, which has firmly established itself as the market leader after settling into its permanent location.

    Caesars Virginia Dominates with Explosive Growth

    Caesars Virginia came out swinging in its first full month at its permanent site, delivering numbers that far outpaced the competition. The casino’s 1,479 slot machines raked in $21.1 million in adjusted gaming revenue (AGR), marking a staggering 73.2% increase over the same period last year.

    Table games weren’t far behind. The casino’s 137 tables brought in $7.1 million, a strong 46.6% year-over-year increase. Put together, Caesars Virginia posted a total AGR of $28.5 million for the month—an impressive 65.7% surge from January 2024.

    Hard Rock Bristol Sees Strong Gains

    Not to be outdone, Hard Rock Hotel & Casino Bristol also reported significant growth. The property’s AGR climbed 53.3% compared to last year, fueled by strong performances across both slot machines and table games.

    • Slot revenue soared 52.9%, reaching $15.1 million.
    • Table game revenue saw an even bigger jump, rising 54.9% to $3.3 million.

    Hard Rock Bristol continues to solidify its position in Virginia’s casino landscape, drawing steady interest from players and boosting tax contributions.

    Rivers Casino Portsmouth Posts Modest Growth

    While Rivers Casino Portsmouth didn’t see the same explosive gains as its competitors, it still posted a respectable 7.2% year-over-year increase in AGR. The casino brought in $25.2 million for the month, proving it remains a major player in the market.

    Tax Contributions and Community Impact

    With casino revenue climbing, tax collections followed suit. Virginia Lottery officials reported that the state pulled in over $13 million in tax revenue from casino operations in January. Here’s where the money went:

    Fund Allocation
    Problem Gambling Treatment and Support Fund $100,000+
    Family and Children’s Trust Fund $26,000
    Host Cities (combined) $4.3 million
    Gaming Proceeds Fund $8.5 million

    These contributions help support gambling addiction treatment programs, local governments, and state initiatives. With revenues trending upward, Virginia can expect even greater tax contributions in the months ahead.

    Future Casino Expansion Faces Uncertainty

    Virginia’s casino industry might be on the verge of further expansion—if lawmakers get on board. A proposal to bring a casino to Fairfax County had been under discussion, but momentum stalled when the Virginia House decided to table the bill.

    For now, it’s unclear if or when the measure will resurface. A casino in Northern Virginia could be a game-changer, but local opposition and political hurdles could keep the idea shelved for the foreseeable future.

  • Pennsylvania Shatters Super Bowl Betting Record with $101.5 Million in Wagers

    Pennsylvania Shatters Super Bowl Betting Record with $101.5 Million in Wagers

    Pennsylvania bettors made history during Super Bowl LIX, placing a record-breaking $101.5 million in wagers, according to the Pennsylvania Gaming Control Board. The staggering number represents a 20.4% increase from last year’s Super Bowl, reaffirming the state’s growing appetite for sports betting.

    A New High for Pennsylvania’s Sportsbooks

    The 2024 Super Bowl between the Philadelphia Eagles and Kansas City Chiefs saw an unprecedented level of betting activity in Pennsylvania. The previous record, set in 2023 when the same two teams squared off, was shattered by over $17 million.

    But while the betting volume surged, sportsbooks in Pennsylvania didn’t come out on top. In fact, they took a collective hit, reporting a loss of $6.53 million. The reason? Most bets were placed in favor of the Eagles, who convincingly defeated the Chiefs 40-22.

    One thing is clear: Pennsylvania bettors weren’t just placing wagers—they were winning.

    Online Betting Dominates the Market

    Pennsylvania offers both retail and online sports betting options, but the overwhelming majority of gamblers preferred digital platforms.

    • 91.2% of all bets were placed online, showing the continued shift away from brick-and-mortar sportsbooks.
    • 18 retail sportsbook locations were open for wagers, but they saw just a fraction of the total bets.
    • 11 online platforms handled the lion’s share of the action, reinforcing the convenience and accessibility of mobile betting.

    With more bettors choosing digital platforms, the future of sports gambling in Pennsylvania seems firmly tied to online services.

    Nationwide Trends Show Explosive Growth

    Pennsylvania’s record-setting numbers are part of a larger trend sweeping across the U.S. The American Gaming Association (AGA) projected that Americans would legally wager a record $1.39 billion on Super Bowl LIX, underscoring just how mainstream sports betting has become.

    A recent AGA survey revealed:

    • 75% of Americans support legal sports betting in their home state.
    • 90% view sports wagering as a normal form of entertainment.

    These numbers highlight the shift in public perception. What was once a niche activity is now widely accepted and even celebrated.

    What’s Driving the Betting Boom?

    Several factors have contributed to the rise in sports betting, particularly in Pennsylvania:

    1. Easier access to online platforms – With 11 online sportsbooks in the state, betting is more convenient than ever.
    2. More aggressive marketing by sportsbooks – Bonuses, promotions, and advertising campaigns continue to attract new users.
    3. Favorable regulations – Pennsylvania has embraced legal sports betting, creating an environment where gamblers feel safe placing wagers.
    4. Increased fan engagement – More bettors means more people tuning in to games, making sports even more exciting.

    This combination of accessibility, legality, and enthusiasm is fueling record numbers—not just in Pennsylvania, but nationwide.

  • Ransomware Attack Disrupts Sault Tribe’s Casinos in Michigan, Exposing Critical Data

    Ransomware Attack Disrupts Sault Tribe’s Casinos in Michigan, Exposing Critical Data

    A ransomware attack on February 9 has thrown the operations of casinos, government services, and telecommunications under the control of the Sault Ste. Marie Tribe of Chippewa Indians into disarray. The cyberattack, allegedly orchestrated by the notorious hacking group RansomHub, has raised alarm bells across Michigan, as the group claims to have stolen over 119 GB of sensitive data.

    Casino Shutdowns and Data Theft: The Immediate Impact

    In what seems to be a coordinated assault on the tribe’s digital infrastructure, RansomHub’s attack has caused significant disruptions to operations at Kewadin Casinos, tribal government buildings, and related services. Among the stolen files are more than half a million documents, including personal data, which the group claims to have leaked onto the dark web.

    Kewadin Casinos, a vital part of the tribe’s economy, has faced a complete shutdown of its gaming systems. This includes the suspension of slot machines, online gaming, and membership services—resulting in a severe impact on customer experience and revenue generation. But the financial fallout doesn’t stop there. Payment processing failures have left customers unable to make cashless transactions, further compounding the chaos.

    The attack has also affected customer service operations, leading to delays in reservations and membership services. For an institution heavily reliant on smooth customer interactions, this represents both a financial loss and a hit to its reputation.

    Despite the ongoing crisis, Sault Ste. Marie Tribal Chairman Austin Lowes addressed the tribe’s members, acknowledging the attack and expressing shared frustration with the interruption. “We understand and share in our community’s frustration with this attack and the interruptions it has caused,” Lowes said in a statement. The tribe, in collaboration with cybersecurity experts, has been actively working on restoring operations. However, progress has been slower than anticipated, and new phone lines have been set up to communicate with the affected community. It is expected that full recovery may take another week.

    RansomHub’s Allegations: A Critical Response

    The group behind the cyberattack, RansomHub, wasted no time in claiming responsibility. Not only did the group lock critical systems, but they also accused the tribe of negligence and a lack of response to their demands. According to RansomHub, they attempted to contact the tribe for a week before launching their attack, but received no reply. They have since posted a statement on their dark web leak site, which contains a detailed account of their activities.

    The hackers were quick to point out the tribe’s failure to act, specifically calling out their insurers—Corvus Insurance by Travelers, Crum & Forster Specialty Insurance Company, and Cowbell Cyber Risk Insurance—for not taking adequate steps to mitigate the damage. In fact, RansomHub claims that the lack of response only fueled their decision to escalate the attack.

    “Despite multiple attempts to reach out via email and phone, no response was received from the tribe’s Board of Directors,” RansomHub stated. “This is a blatant disregard for the personal data of their residents, customers, and employees.” The group has given the tribe until Wednesday to respond to their demands, threatening to release all stolen data if the tribe fails to comply.

    The Tribe’s Response and Cybersecurity Experts Weigh In

    Despite the ongoing challenges, the Sault Tribe has been proactive in addressing the cybersecurity breach. With the help of expert consultants, the tribe has been working to restore its services. The situation remains fluid, with significant progress still required before full operations can resume.

    The community is understandably upset, as the interruption has led to a temporary halt in business activities, and the stolen data has created concerns about privacy breaches. But cybersecurity experts are already using this incident as an example of how vulnerable even large organizations can be to well-coordinated cyberattacks.

    One major takeaway from the attack is the importance of regular data backups. Experts recommend that all businesses, particularly those with sensitive customer data, invest in secure, redundant backup systems. In addition, strong phishing awareness programs and multi-factor authentication (MFA) could have potentially mitigated the severity of the attack.

    For casinos and other industries dealing with high-volume transactions and sensitive information, downtime is costly—not only in terms of direct financial loss but also in reputational damage. Restoring the trust of customers, employees, and the public will be a long-term challenge.

    Experts also point to the need for comprehensive incident response plans, which can help mitigate the impact of such breaches and facilitate faster recovery.

    The Bigger Picture: A Growing Threat Landscape

    While the attack on the Sault Tribe has garnered attention, it is far from an isolated incident. Ransomware attacks have become a growing concern worldwide, with cybercriminal groups increasingly targeting institutions that provide essential services—like casinos and government buildings. In fact, the gaming industry, particularly, has emerged as a prime target for hackers, thanks to the vast sums of money circulating within these systems.

    In this context, the Sault Tribe’s experience is not just a cautionary tale—it’s a glimpse into the larger cyber threat landscape. Every industry, from healthcare to finance, is vulnerable. This attack serves as a reminder that no organization is immune from a well-organized ransomware campaign.

    The ongoing recovery efforts in Michigan will undoubtedly be scrutinized by both cybersecurity professionals and the general public. If there’s any silver lining to this unfortunate event, it’s that it will prompt many businesses and organizations to reassess their own cybersecurity measures before it’s too late.

  • Atlantic City to Review Casino PILOT Program Amid Financial Uncertainty

    Atlantic City to Review Casino PILOT Program Amid Financial Uncertainty

    A newly formed commission is set to examine the effectiveness of Atlantic City’s casino payment-in-lieu-of-taxes (PILOT) program, a system that allows casinos to pay a fixed industry-wide assessment instead of traditional property taxes. With the program nearing its expiration, state officials and local leaders are debating its future impact on the city’s economy and financial stability.

    Commission to Finally Take Shape After Years of Delay

    The commission was originally mandated in the 2016 PILOT legislation but was removed in the 2021 revisions. Now, state officials are moving forward with its formation to review whether the program should continue beyond next year.

    Under the original law, the commission was supposed to start work on January 1, 2025, and issue a final report by July 1. However, questions remain about whether the timeline will hold. Atlantic County Executive Dennis Levinson and State Sen. Vince Polistina, R-2nd, recently said they have yet to hear from the governor’s office about its formation or any progress.

    Financial Impact of PILOT Payments in Atlantic City

    Since its introduction in 2016, the PILOT program has provided Atlantic City with a level of financial stability by preventing costly and repeated casino property tax appeals. The program has contributed significantly to local revenues:

    • In 2023, the city received $51.6 million in PILOT payments.
    • In 2024, the total PILOT revenue dropped slightly to $48.5 million.

    Despite this financial support, critics argue that recent changes to the program have shifted the tax burden away from casinos and onto other taxpayers.

    2021 Revisions Reduced Casino Tax Burden

    A key factor in the upcoming review is the 2021 changes to the PILOT program. These revisions removed online gaming and sports betting revenue from the calculation of gross gaming revenue, which significantly reduced casino tax obligations.

    The impact of these changes is significant:

    Year Estimated Tax Reduction for Casinos
    2022 $55 million
    2023 $55 million
    2024 $55 million

    State officials justified these revisions by citing increased competition from neighboring states and financial setbacks caused by the COVID-19 pandemic. The adjustments were aimed at keeping Atlantic City’s casino industry competitive and avoiding potential closures.

    Legal Battle Over the PILOT Program

    Not everyone agrees with the state’s rationale. Atlantic County has taken legal action, arguing that the 2021 amendments violate a 2018 consent agreement between the state and the county. County officials say that by reducing casinos’ financial obligations, the revised PILOT program unfairly cuts into local government funding.

    The lawsuit underscores broader concerns about the program’s fairness and sustainability. If the commission finds that the PILOT structure disproportionately benefits casinos at the expense of local services, lawmakers may face pressure to either revise or scrap the program altogether.

    Long-Term Consequences for Atlantic City

    Mike Chait, president of the Greater Atlantic City Chamber, stressed the importance of a thorough, data-driven review. He emphasized that the commission’s work will have lasting consequences for the city’s economic future.

    “The decisions made here will shape Atlantic City’s economic foundation for years to come,” Chait said.

    Local businesses, casino operators, and residents will all have a stake in the commission’s findings. The final report will likely influence future financial policies, particularly concerning Atlantic City’s reliance on PILOT payments versus traditional tax structures.

    With major financial and legal questions still unresolved, the commission’s work could set the stage for a contentious debate over Atlantic City’s long-term economic strategy

  • New Zealand Lawmakers Weigh TAB Monopoly for Online Betting Amid Growing Concerns

    New Zealand Lawmakers Weigh TAB Monopoly for Online Betting Amid Growing Concerns

    New Zealand’s lawmakers are locked in debate over a bill that could reshape the country’s online betting landscape. If passed, the legislation would grant TAB New Zealand a monopoly over online racing and sports betting. Proponents argue it’s a way to keep gambling revenue within the country, while critics fear it could backfire, pushing bettors toward offshore platforms.

    Government Aims for Control Over Betting Revenue

    The proposed changes to the Racing Industry Act 2020 would effectively shut out private online bookmakers, making TAB NZ the sole legal option. Supporters say this is a necessary move to safeguard responsible gambling and ensure revenue stays in New Zealand’s economy.

    One key argument from lawmakers backing the bill is that a state-controlled system can better enforce gambling regulations. Unlike offshore platforms, TAB NZ would be required to reinvest its earnings into local racing and sports organizations.

    Gambling Minister Kieran McAnulty has stressed that betting revenue plays a crucial role in funding New Zealand’s racing industry, which employs thousands of people. “This is about making sure that profits from betting are directed where they should be—into supporting New Zealand’s racing and sporting communities,” he said.

    Critics Warn of Reduced Competition and Black Market Risks

    Not everyone is convinced. Some industry experts believe shutting out competition could reduce innovation and lead to worse odds for bettors. Without private operators in the mix, they argue, TAB NZ would have little incentive to offer competitive payouts or improve its platform.

    • The Commerce Commission, New Zealand’s watchdog for fair competition, has not yet taken a stance on the bill. Some expect that it may raise concerns, as the organization has pushed for more competition in other industries, including banking and supermarkets.
    • Critics also warn that bettors frustrated by limited options might turn to black market gambling sites. These platforms often operate outside of New Zealand’s regulatory framework, making it harder to enforce responsible gambling measures.

    Industry analyst Gregor Thompson highlighted this risk, saying: “That is clearly a risk and the minister has acknowledged that will likely happen, that very committed sports bettors will find a way around the law using things like cryptocurrencies.”

    Entain’s Legal Troubles Raise Red Flags

    Adding another layer of complexity to the debate is the controversy surrounding TAB NZ’s operating partner, Entain. The British-based gambling giant, which signed a 25-year partnership with TAB NZ in 2023, is currently facing legal scrutiny in multiple countries.

    Regulators in Australia, the UK, and Turkey have all investigated Entain over alleged financial misconduct:

    Jurisdiction Allegations Regulatory Body
    Australia Anti-money laundering violations AUSTRAC
    United Kingdom Financial reporting irregularities Financial Reporting Council
    Turkey Bribery linked to former operations Settled in 2023

    With such ongoing legal battles, some lawmakers question whether Entain is the right long-term partner for TAB NZ. Racing Minister Winston Peters has been briefed on the situation, but his office has declined to comment publicly.

    What’s Next for the Bill?

    The bill is still in its early stages, and much depends on how lawmakers respond to concerns from both supporters and critics.

    • If passed, New Zealand would become one of the few countries to enforce a state-run online betting monopoly.
    • If rejected, the government may need to explore alternative ways to tax offshore bookmakers or regulate them more effectively.

    For now, the debate continues, with plenty of questions still unanswered. Will limiting competition really protect New Zealand bettors, or will it drive them underground? And with Entain’s legal troubles making headlines, is TAB NZ’s monopoly already on shaky ground?

  • Casinos Join Forces to Push Back Against Online Gaming Expansion

    Casinos Join Forces to Push Back Against Online Gaming Expansion

    A battle over the future of gambling in the U.S. is heating up. As more states consider legalizing online gaming and poker, a coalition of casino operators is pushing back hard. The newly formed National Association Against iGaming (NAAiG) argues that digital gambling threatens local economies, jobs, and tax revenues. Their latest study paints a bleak picture, warning of massive financial losses if iGaming continues to spread.

    Casino Operators Sound the Alarm

    Brick-and-mortar casinos have long been economic pillars in many states, providing jobs and contributing heavily to tax revenue. But according to NAAiG, legalizing iGaming threatens that balance. The group, which includes regional casino operators, claims online gambling cuts deeply into casino revenues.

    Their newly released study suggests that land-based casinos suffer an average 16% revenue drop when iGaming is introduced. This, they say, results in:

    • Widespread job losses
    • Reduced economic activity in local communities
    • Significant cuts in tax contributions that fund essential services

    Mark Stewart, Executive Vice President and general counsel for The Cordish Companies and a board member of NAAiG, is blunt about the risks. “iGaming’s unchecked access to gambling on cell phones is bad public policy that threatens local jobs and businesses and will cost states,” he said.

    The Numbers: Jobs, GDP, and Tax Revenue at Risk

    The NAAiG study delivers stark projections for several states currently considering iGaming expansion. By 2029, thousands of jobs could be lost across key markets:

    State Projected Job Losses Estimated GDP Reduction
    New York 4,921 Not specified
    Illinois 4,733 Not specified
    Ohio 2,818 $602 million
    Indiana Not specified $428 million
    Maryland Not specified $372 million
    Colorado Not specified $313 million

    Beyond job cuts, the report highlights that iGaming’s tax revenue gains are not as lucrative as they seem. Factoring in social costs—such as addiction treatment and increased problem gambling—the study claims that states could see net negative tax impacts rather than the expected windfall.

    The Divide: Online Gaming Advocates Fire Back

    Not everyone in the industry agrees with NAAiG’s conclusions. Major casino operators with a foothold in online gaming, including Caesars Entertainment, MGM Resorts, and Rush Street Interactive, argue that iGaming can boost overall gambling revenues.

    A separate study released in 2024 by iDEA Growth (iDevelopment and Economic Association) tells a different story. Conducted by Eilers & Krejcik Gaming (EKG), the research found that states with regulated iGaming saw an average quarterly revenue increase of 2.4% across six states.

    Jeff Ifrah, founder and general counsel of iDEA, strongly disputes NAAiG’s claims. “This study offers compelling evidence that online gambling is a catalyst for growth, not a competitor to land-based casinos,” he said.

    What’s Next? States Weigh Their Options

    With dueling studies and strong opinions on both sides, state lawmakers are left to decide which argument holds more weight. The debate over iGaming expansion is far from settled, and with billions of dollars at stake, both casino operators and policymakers will be watching closely.

    Some states, like Maryland, are in particularly tricky positions. While companies like Cordish oppose iGaming on principle, they have acknowledged they would seek a license if legalization happens. As Stewart put it, “We will do very well, but we think Maryland won’t do very well, and we know our employees won’t do very well, and that’s why we’re opposed to it.”

    Other major casino operators, like Monarch Casino and Churchill Downs Incorporated, have joined NAAiG in resisting online gambling expansion.

    The battle over iGaming is far from over, and with new legislative sessions underway across multiple states, the coming months could shape the industry’s future for years to come.