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Online gambling in France: The next step?
The French Government is set to hold a public consultation during the first week of November with gambling operators in France to discuss its changing policy surrounding online casinos. Plans to regulate the market were announced earlier this month as part of the nation’s 2025 budget plan, though it was later revealed that these plans had been postponed to provide more time for the legislation to be worked on.
The consultation, which will include the French Government and industry stakeholders (including leading local operators), may touch on several topics, including the suggested 55.6% tax rate on online casinos and the concerns land-based casinos have over regulating the online market.
Aristocrat opens the supplier door in the UAE
Aristocrat has received the first gaming-related vendor licence in the UAE, allowing it to supply its portfolio of electronic gaming machines to land-based casinos and online slots and tech to commercial operators. The licence, handed to Aristocrat by the General Commercial Gaming Regulatory Authority (GCGRA), will allow it to supply to licensed operators in the UAE, including Wynn Resorts, which plans to complete the nation’s first land-based casino, Wynn Al Marjan Island, by 2027.
Aristocrat CEO of Gaming Hector Fernandez said: “We are honoured to be the first large, international technology provider to be awarded a gaming-related vendor licence to serve the UAE market.”
Better Collective faces redundancies amid target downgrades
Better Collective has announced plans to adjust the company’s cost base, following the downgrading of its financial targets and decline in share price, which fell 36.5% in the five days leading up to 30 October. In a post on LinkedIn, Co-Founder and CEO Jesper Søgaard announced these adjustments, which include redundancies, clarified that “the decision was not made lightly,” noting the changing US and Brazilian markets as reasons why growth at Better Collective had declined.
Søgaard concluded the post by writing: “Although we are now focusing on navigating difficult changes, I remain confident that we will emerge stronger as a group and are well-equipped for the long-term growth opportunities ahead. Best regards, Jesper.”
Caesars reports Q3 net loss
Caesars reported its Q3 2024 figures this week, with revenue coming to $2.9bn, down 2.6% year-on-year. Net income also decreased to a net loss year-on-year, from last year’s $74m net income to this year’s $9m net loss.
Focusing on its Las Vegas operations, revenue declined slightly to $1.06bn, down 1.3%. Regional revenue faced sharper decline, down 7.6% to $1.45bn. Meanwhile, Caesars Digital was able to increase its adjusted EBITDA a sizeable 40.9%, making $52m in the quarter.
Managed and Branded properties, consisting of properties branded but not directly owned by Caesars, made $68m, down 30.6% year-on-year.
Vegas Strip takes a revenue dip
Nevada also posted its most recent financial results, with gaming revenue in the Silver State totalling $1.31bn for September, up 3.3% year-on-year. Of this, revenue from the Las Vegas Strip accounted for over half of the state’s total, making $727.7m. However, this reflects a slight dip of 1.8%.
Of the state’s $1.31bn total revenue, $897m came from slot games, up 10.1% year-on-year, with $5 slots seeing a 36.6% increase in revenue and multi-denomination slots seeing growth of 31.8%. All other slot denominations saw a year-on-year revenue decline. Table, counter and card game revenue came to $416m, down 8.8%.
