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Gambling in the USA

GAN Appoints Karen Flores as Chief Financial Officer, Continues to Progress Toward U.S. Listing

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GAN plc , an award-winning developer and supplier of enterprise-level B2B Internet gambling software, services and online gaming content in the United States, announced the appointment of Mrs. Karen Flores as Chief Financial Officer, effective immediately. In this role, Mrs. Flores will be responsible for finance, strategic planning, treasury, tax and accounting and will be based at the Company’s offices in Irvine, CA.

Mrs. Flores brings 20 years of financial management, capital markets and operational experience in both public and private technology companies. Most recently, she served as Vice President of Corporate Financial Planning & Analysis at Alorica, Inc., a provider of customer experience and call center outsourcing solutions, where she rebuilt the corporate financial planning & analysis function and managed the global capital planning process, establishing and leading the committee overseeing over $50 million in annual capital spending.

Prior to this, Mrs. Flores served as Senior Vice President of Finance at Maker Studios Inc., leading the company through a multi-year period of explosive growth with revenues increasing from $2 million to over $200 million. Mrs. Flores’ role at the company included acting as shareholder liaison with key institutional investors and managing its U.S. external audit. She was a primary member of the team that raised more than $70 million in equity funding and sold the company to The Walt Disney Company for $675 million in 2014.

Mrs. Flores has also held financial positions at MySpace Music, Napster, and Microsoft during her career and holds a Bachelor of Science, Finance (Cum Laude) from San Jose State University.

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Management Commentary

Dermot Smurfit, CEO of GAN commented:

“We are pleased to welcome Karen to our leadership team as we continue working toward obtaining a U.S. listing as soon as reasonably practical. With two decades of financial management and operational experience at entertainment and technology companies, Karen has managed the Finance function of companies with substantial revenues and gained highly relevant corporate transactional experience. We believe Karen’s experience and skillset will prove invaluable to our financial and strategic planning as our business growth continues to accelerate. The entire leadership team at GAN looks forward to working closely with Karen who will be a critical part in helping us achieve both short- and long-term goals.”

About GAN Plc:
GAN is a leading business-to-business (“B2B”) supplier of internet gambling software-as-a-service solutions (“SaaS”) to the US land-based casino industry. The Company has developed a proprietary internet gambling enterprise software system, GameSTACK™, which it licenses principally to land-based US casino operators as a turnkey technology solution for regulated real-money internet gambling, encompassing internet gaming, internet sports gaming and virtual Simulated Gaming.

GAN is listed on the London Stock Exchange (LSE: GAN).

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For more information please visit www.GAN.com.

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Detroit casinos

Detroit Casinos Report $123.86M in March Revenue

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The three Detroit casinos reported $123.86 million in monthly aggregate revenue (AGR) for the month of March 2024, of which $122.26 million was generated from table games and slots, and $1.6 million from retail sports betting.

The March market shares were:

  • MGM, 46%
  • MotorCity, 31%
  • Hollywood Casino at Greektown, 23%

Monthly Table Games, Slot Revenue, and Taxes

March 2024 table games and slot revenue increased 3.8% when compared to March 2023 revenue. March’s monthly revenue was 16.7% higher than February 2024. From Jan. 1 through March 31, the Detroit casinos’ table games and slots revenue decreased by 1.6% compared to the same period last year.

The casinos’ monthly gaming revenue results were mixed compared to March 2023:

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  • MGM, up 4.1% to $56.65 million
  • MotorCity, up 7.2% to $38.35 million
  • Hollywood Casino at Greektown, down 1.4% to $27.26 million

In March 2024, the three Detroit casinos paid $9.9 million in gaming taxes to the State of Michigan. They paid $9.5 million for the same month last year. The casinos also reported submitting $14.5 million in wagering taxes and development agreement payments to the City of Detroit in March.

Monthly Retail Sports Betting Revenue and Taxes

The three Detroit casinos reported $17.25 million in total retail sports betting handle, and total gross receipts were $1.61 million for the month of March. Retail sports betting qualified adjusted gross receipts (QAGR) in March were up by 13.2% when compared to the same month last year. Compared to February 2024, March QAGR was up by $1.7 million.

March QAGR by casino was:

  • MGM: $327,857
  • MotorCity: $538,988
  • Hollywood Casino at Greektown: $731,389

During March, the casinos paid $60,413 in gaming taxes to the state and reported submitting $73,838 in wagering taxes to the City of Detroit based on their retail sports betting revenue.

Fantasy Contests

For February 2024, fantasy contest operators reported total adjusted revenues of $405,342 and paid taxes of $34,049.

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Gambling in the USA

IGT Wheel of Fortune and Powerbucks Slots Award Monumental Million-Dollar-Plus Jackpots in March

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International Game Technology PLC (IGT) announced that its Wheel of Fortune and Powerbucks slots awarded four life-changing jackpots totaling more than $5 million in March.

Lucky slots players won the following million-dollar-plus jackpots last month:

  • On March 8, a Wheel of Fortune slots player won $1,254,996 playing Wheel of Fortune Triple Gold Gold Spin at Beau Rivage Resort & Casino in Biloxi, Miss.
  • On March 12, a Wheel of Fortune slots player won $1,635,694 playing Wheel of Fortune Triple Gold Gold Spin Megatower at The Venetian Resort Las Vegas in Nevada.
  • On March 22, a Powerbucks slots player won CA$1,485,994 playing Wheel of Fortune Lucky Coins On Stage at Chances Casino Kelowna in British Columbia, Canada.
  • On March 30, a Wheel of Fortune slots player won $1,172,262 playing Wheel of Fortune Gold Spin Triple Red Hot 7s at the California Hotel & Casino in Las Vegas, Nev.

IGT Powerbucks slots have paid 56 jackpots of $1 million or more since their Canadian debut in 2016. Wheel of Fortune slots have minted over 1100 millionaires and awarded over $3.5 billion in jackpots since their launch in 1996.

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Gambling in the USA

Gaming Americas Weekly Roundup – April 8-14

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Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

Latest News

FanDuel Group, the premier online gaming company in North America and an Official Partner of Churchill Downs Inc., announced five time Entertainer of the Year Luke Bryan and Grammy award-winning R&B singer Ne-Yo as the headlining performers at FanDuel’s inaugural Kentucky Derby Party. The exclusive, invite-only event will take place on Friday, May 3 at Paristown Arts and Entertainment District in Louisville, Kentucky from 7:00 PM to 12:00 AM.

TPI, a leading provider of innovative player communication solutions for the casino industry, has appointed Joe Tingson as its new Vice President of Customer Success. With his unparalleled dedication to his customers, Joe will play a pivotal role as a leader for our digital Customer Success and Product teams.

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PrizePicks, the largest daily fantasy sports operator in North America, has announced plans for its new 33,000 square foot Atlanta Headquarters, which will be located in the Star Metals Building in Midtown Atlanta. The company plans to grow its workforce by 1000 new jobs over the next seven years, the economic impact of which will be $25M to the state of Georgia.

Century Casinos Inc. has announced that it opened its hotel in Cape Girardeau, Missouri, The Riverview. The Riverview is a 69 room, six-story building with 68,000 square feet that is adjacent to and connected with Century Casino Cape Girardeau. The project cost $30.5 million and was financed with cash on hand.

Churchill Downs Incorporated (CDI) has announced the opening of Terre Haute Casino Resort in Terre Haute, Indiana. The $290 million investment includes a casino floor with 1000 slot machines, 36 table games, and a state-of-the-art sportsbook. The 400,000-square-foot entertainment venue also features regionally inspired bars and restaurants including: Four Cornered Steakhouse, Rockwood Bar & Grill, The Soda Shoppe, Crossroads Center Bar and High Limit Bar.

Bragg Gaming Group Inc., a global B2B gaming technology and content provider, announced that Chief Financial Officer (CFO), Ronen Kannor, has notified Bragg’s board of directors (Board) that he will resign from his position to pursue other career opportunities, effective June 3, 2024. The Company confirms that the search for a replacement CFO has commenced.

Partnerships

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EQL Games has partnered with global aggregation leader and NeoGames company, Pariplay, to provide the Virginia Lottery, through an agreement with NeoPollard Interactive, with a series of eInstant iLottery games for their industry-leading digital platform.

JACK Entertainment LLC announced the selection of Konami Gaming Inc.’s SYNKROS to power industry-leading systems technology across its 1.5 million square feet of casino entertainment space. The Ohio-based gaming operator’s portfolio includes a combined 2600+ gaming machines and 85 table games at JACK Cleveland Casino in downtown Cleveland, and at JACK Thistledown Racino, located approximately 10 miles to the southeast.

PrizePicks, the largest daily fantasy sports operator in North America, announced that the company has reunited with the Atlanta Braves as the club’s Official Daily Fantasy Sports Partner for the 2024 season. The partnership extends a longstanding relationship that dates back to 2020, with the two Atlanta-based companies continuing to work together on unique opportunities for their dedicated fans.

The post Gaming Americas Weekly Roundup – April 8-14 appeared first on European Gaming Industry News.

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