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Macau market marks two-month downturn
Results from the Macau Gaming Inspection and Coordination Bureau (DICJ) noted the second month in a row in which gross gaming revenue (GGR) in the territory faced a year-on-year decline, making MOP 18.25bn ($2.27bn), down 5.6% year-on-year.
December’s results, which saw revenue down 2%, marked the first time in two years that Macau reported a year-on-year decline in monthly revenue. This was the culmination of a six-month period when growth in monthly revenue slowed notably, never going above 20% beyond June 2024.
Post-Covid market stabilisation, and the lead-up to the Lunar New Year, are possible factors impacting January’s result.
Two out of three ain’t bad, BetMGM
Elsewhere, BetMGM also released financial results this week, with FY24 revenue totalling $2.1bn, up 7% year-on-year. Of this, $1.49bn was generated by iGaming, up 13%, while online sports betting made $554m, up 4%. Despite this, retail revenue took a significant dip in 2024, making $70m, down 50%.
EBITDA loss also increased year-on-year, from negative $62m in 2023 to negative $244m in 2024. This was impacted by investments made throughout the year and a favourable customer results period towards the end of the year. CEO Adam Greenblatt called 2024 “a year of investment and rebuilding of momentum for BetMGM.”
AGA bets on Super Bowl record
The American Gaming Association (AGA) has predicted $1.39bn will be wagered on Super Bowl LIX this weekend, based on historical revenue data and other trends. This figure online includes bets made legally in the US.
The match between the Philadelphia Eagles and Kansas City Chiefs is expected to set record figures, with AGA President and CEO Bill Miller stating: “This figure underscores the positive impact of the legal market – from protecting consumers to generating tax revenue that benefits communities across the country – while enhancing the game experience for all.”
The House always wins
The Mississippi House has passed a bill that would see legal mobile sports betting come to the Magnolia State. The amended Mississippi Mobile Sports Wagering Act was approved by the House Gaming Committee in late January and is the second time the bill has been approved by the House.
The bill would keep mobile sports betting tethered to brick-and-mortal casinos in the state, in order to secure the continued success and survival of these properties. This was confirmed by House Gaming Chairman Representative Casey Eure in a local report.
GC lays new groundwork
The Gambling Commission has released new rules for operators in the UK to follow, regarding deposit limits and customer fund protection. Under the new rules, operators must prompt players to set a deposit limit and must remind them to check and update these limits every six months, and also requires operators to clearly state what would happen to customer funds were the operator to face insolvency. If player funds are not protected in these circumstances, players must also receive bi-annual reminders.
Both of these requirements will go into effect on 31 October.