Financial reports
Optimove US Gaming Pulse Report – March 2025
Executive Summary – Optimove US Gaming Pulse Report (March 2025)
The March 2025 report analyzes data from over 3.2 million U.S. players and 21 million global players to benchmark performance across casino and sports betting.
Key Insights:
- U.S. Players Spend More: U.S. bettors deposited an average of $538 over the past 12 months — 2.6x higher than the global average.
- Casino Activity Climbs: U.S. casino bettors grew 37% March year-over-year, with average monthly bets reaching $8,511 (6.4x the global average), boosted by state expansions like Rhode Island.
- Sports Betting Spikes with NFL Season: Bettor volume rose 32% in September compared to the baseline. U.S. average monthly sports bet: $1,010 (vs. $404 globally).
- Global Players More Engaged: Global players are active more days per month (+13%) and retain better (70% vs. 65% monthly average).
Conclusion:
Report Metrics:While the U.S. market demonstrates higher player spend and betting volume, global markets show stronger engagement and retention. Continued U.S. growth is closely tied to seasonal events and expanding iGaming legalization, while future success will depend on improving long-term engagement and retention strategies.
- Source: Betting trends in United States compared to the global benchmark in the trailing 12 months (March 2024-2025)
- Database: A 12-month average of 3,270,596 active players per month in the US and 21,308,702 globally.
Category: Average Deposit Amount
Key finding: Average Deposit Amounts Greatest in the US
In monthly average total deposit amounts, the US consistently outpaces the global average, maintaining values more than twice as high throughout the year.
The US average peaked at $602 in August 2024 and again in March 2025, while the lowest point was $466 in February 2025. (The 12-month average was $538.)
Global deposit amounts remained relatively stable, fluctuating between $193 and $225, ending at $206 in March 2025.
Definition of Average Deposit Amount: The average deposit amount is calculated by taking the total sum of all deposits and dividing it by the number of Sports and Casino bettors (players) who have made at least one deposit.
Category: Total Monthly Casino Betting Amount & Number of Casino Bettors Growth
Key findings: The US has been leading in both betting amount and number of casino bettors’ growth since August 2024
Throughout the period, the US consistently outpaced global averages, with an average of $8,511 per bettor through the period compared to $1,327 globally. US ending at $8,536 in March 2025 while the global average stands on $1,329.
In number of casino bettors’ growth, the US market saw significant growth, rising from the March 2024 baseline of 100% to 137% (37% growth) by March 2025. Global growth was more moderate, increasing to 116% over the same period. The most notable growth for the US occurred between August 2024 and January 2025, peaking at 142%.
Legalization of online casino gaming in the US has influenced the growth trends among casino bettors, Rhode Island is the most recent state legalized, having launched its iGaming casinos platform in March 2024.
Definition of Total Monthly Casino Bet Amount: The average casino bet amount is the total sum of all casino bets and divided by the number of bettors who have placed at least one casino bet.
Definition of Casino Bettors Growth Trend: calculated by dividing the total number of casino bettors each month by the number of casino bettors in March 2024, which serves as the baseline (100%).
Category: Total Monthly Sports Betting Amount & Number of Sport Bettors Growth
Key finding: The US consistently outpaced global averages in monthly average sports bet amounts, with a strong seasonality effect observed in the number of sport bettors starting in September, coinciding with the beginning of the NFL season.
Throughout the period, the US consistently outpaced global averages in monthly average sports bet amounts. The US average peaked at $1,166 in March 2024, dipped mid-year, and rebounded to $1,150 by March 2025.
In contrast, the global average remained steady, fluctuating between $362 and $452, and closing at $391 in March 2025.
In terms of the number of sport bettors, the US market experienced a sharp increase starting in September 2024, aligning with the start of the NFL season. Growth surged to 132% in September, peaking at 144% in November, and closing at 112% in March 2025.
Global growth remained more stable, gradually increasing from 100% to 108% over the same period.
Definition of Total Monthly Sport Bet Amount: The average sport betting amount is the total sum of all sports bets and divided by the number of bettors who have placed in least one sport bet.
The Sport Bettors Growth Trend: calculated by dividing the total number of sport bettors each month by the number of sport bettors in March 2024, which serves as the baseline (100%).
Category: Average Number of Activity Days per Active Customer
Key finding: global market consistently maintained a higher engagement level than the US.
- Unlike trends in casino and sports betting, the global market consistently maintained a higher engagement level than the US, with 13% more activity days on average per active customer throughout the period.
- The global average began at 8.71 days in March 2024 and rose slightly to 9.03 days by March 2025, maintaining a relatively stable trend.
- In contrast, the US started at 7.02 days, picked to 8.08 days in March 2025, with a notable low point of 6.82 days in February 2025.
Definition of Average Activity Days: The average number of activity days is the total number of activity days divided by the number of bettors who have at least one activity day.
Category: Average Active Retention Rate
Key finding: Although retention rates remained relatively close, the global market consistently outperformed the US
While retention rates between the US and global markets remained close throughout the period, the global rate consistently outperformed the US in most months.
The global average began at 72% in March 2024 and ended at 73% in March 2025, showing stable performance.
Over the period, US average was 65% compared to the global average of 70%.
Definition of Active Retention Rate: The percentage of bettors who were active in the preceding month and remained active in the current month.
The post Optimove US Gaming Pulse Report – March 2025 appeared first on European Gaming Industry News.
The Pennsylvania Gaming Control Board (PGCB) reported today that the combined total revenue generated from all forms of gaming along with fantasy contests during April 2025 was $558,717,922, an increase of 10.7% from last April.
The following chart compiles all revenue generated in April 2025 by casinos, along with fantasy contests and VGTs operated by other vendors and includes a comparison to total revenue generated in April 2024.
|
Source |
April 2025 Total Revenue |
April 2024 Total Revenue |
% Change |
|
Valley Forge Casino Resort |
$99,090,172 |
$85,340,755 |
16.11% |
|
Hollywood Casino at Penn National Race Course |
$97,719,246 |
$78,343,398 |
24.73% |
|
Rivers Casino Philadelphia |
$56,209,401 |
$49,076,360 |
14.53% |
|
Parx Casino |
$54,211,940 |
$53,793,286 |
0.78% |
|
Wind Creek Bethlehem |
$47,825,103 |
$46,326,454 |
3.23% |
|
Rivers Casino Pittsburgh |
$27,533,445 |
$28,478,326 |
-3.32% |
|
Hollywood Casino at the Meadows |
$27,138,316 |
$26,007,948 |
4.35% |
|
Live! Casino Philadelphia |
$26,562,159 |
$24,304,441 |
9.29% |
|
Harrah’s Philadelphia |
$23,511,110 |
$21,071,057 |
11.58% |
|
Mohegan Pennsylvania |
$19,130,831 |
$20,024,953 |
-4.47% |
|
Mount Airy Casino Resort |
$17,803,898 |
$19,187,606 |
-7.21% |
|
Presque Isle Downs and Casino |
$13,732,651 |
$8,862,424 |
54.95% |
|
Hollywood Casino York |
$10,235,524 |
$8,450,128 |
21.13% |
|
Live! Casino Pittsburgh |
$9,585,109 |
$10,589,049 |
-9.48% |
|
Golden Nugget |
$7,670,389 |
$3,544,056 |
116.43% |
|
Hollywood Casino Morgantown |
$7,532,447 |
$7,330,347 |
2.76% |
|
Video Gaming Terminals |
$3,518,821 |
$3,648,270 |
-3.55% |
|
Parx Shippensburg |
$3,160,614 |
$3,125,398 |
1.13% |
|
Bally’s Pennsylvania |
$2,958,241 |
$3,812,426 |
-22.41% |
|
The Casino at Nemacolin |
$2,331,513 |
$2,138,432 |
9.03% |
|
Fantasy Contests |
$1,256,994 |
$1,228,294 |
2.34% |
|
Statewide Total |
$558,717,922 |
$504,683,409 |
10.71% |
Total tax from games revenue during April 2025 was $234,493,926*.
April Revenue by Game Type
The PGCB is also providing a synopsis of revenue year-over-year by types of games:
|
Type of Gaming Revenue |
April 2025 |
April 2024 |
% Change |
|
Retail Slots Revenue |
$203,094,831 |
$205,485,828 |
-1.16% |
|
iGaming Slots Revenue |
$169,478,496 |
$126,013,832 |
34.49% |
|
Retail Tables Revenue |
$80,604,940 |
$78,482,947 |
2.70% |
|
iGaming Tables Revenue |
$55,892,309 |
$45,006,006 |
24.19% |
|
Sports Wagering Revenue |
$42,533,444 |
$42,412,510 |
0.29% |
|
Video Gaming Terminals Revenue |
$3,518,821 |
$3,648,270 |
-3.55% |
|
iGaming Poker Revenue |
$2,338,087 |
$2,405,721 |
-2.81% |
|
Fantasy Contests Revenue |
$1,256,994 |
$1,228,294 |
2.34% |
|
Total Gaming Revenue |
$558,717,922 |
$504,683,409 |
10.71% |
Slot Machine Revenue
April’s revenue from the play of retail slot machines was $203,094,831, a 1.16% decrease in revenue when compared to the $205,485,828 generated in April 2024.
The number of slot machines in operation in April 2025 was 24,363 compared to 24,890 at the casinos in April 2024.
Slot machine revenue for each of the casinos, with the percentage change reflected over the previous year, is as follows:
|
Casino |
April 2025 Slots Revenue |
April 2024 Slots Revenue |
% Change |
|
Parx Casino |
$31,398,827 |
$31,627,184 |
-0.72% |
|
Wind Creek Bethlehem |
$22,484,142 |
$22,648,114 |
-0.72% |
|
Rivers Casino Pittsburgh |
$20,903,809 |
$21,552,173 |
-3.01% |
|
Mohegan Pennsylvania |
$15,066,512 |
$15,605,963 |
-3.46% |
|
Hollywood Casino at the Meadows |
$13,359,817 |
$13,791,981 |
-3.13% |
|
Live! Casino Philadelphia |
$12,578,702 |
$12,575,159 |
0.03% |
|
Mount Airy Casino Resort |
$11,989,812 |
$12,266,755 |
-2.26% |
|
Rivers Casino Philadelphia |
$11,807,479 |
$12,032,212 |
-1.87% |
|
Hollywood Casino at Penn National Race Course |
$11,528,692 |
$11,684,897 |
-1.34% |
|
Valley Forge Casino Resort |
$9,401,048 |
$9,035,378 |
4.05% |
|
Harrah’s Philadelphia |
$8,833,678 |
$9,080,862 |
-2.72% |
|
Live! Casino Pittsburgh |
$8,142,058 |
$9,126,484 |
-10.79% |
|
Presque Isle Downs and Casino |
$7,631,607 |
$7,476,168 |
2.08% |
|
Hollywood Casino York |
$7,560,618 |
$6,728,004 |
12.38% |
|
Hollywood Casino Morgantown |
$5,261,874 |
$5,338,456 |
-1.43% |
|
Parx Shippensburg |
$3,106,843 |
$3,040,633 |
2.18% |
|
The Casino at Nemacolin |
$2,039,313 |
$1,875,402 |
8.74% |
|
Statewide Total |
$203,094,831 |
$205,485,828 |
-1.16% |
Tax revenue from the play of slot machines in April 2025 was $102,841,807*.
Retail Table Games Revenue
Retail Table Games revenue for April 2025 was $80,604,940, an increase of 2.70% from April 2024 when revenue was $78,482,947.
Table games revenue for each of the casinos, with the percentage change reflected over the previous year, is as follows.
|
Casino |
April 2025 Table Games Revenue |
April 2024 Table Games Revenue |
% Change |
|
Wind Creek Bethlehem |
$23,971,086 |
$21,882,043 |
9.55% |
|
Parx Casino |
$16,102,523 |
$15,718,477 |
2.44% |
|
Live! Casino Philadelphia |
$9,233,598 |
$7,704,612 |
19.85% |
|
Rivers Casino Philadelphia |
$7,937,680 |
$6,993,058 |
13.51% |
|
Rivers Casino Pittsburgh |
$5,950,178 |
$6,154,381 |
-3.32% |
|
Valley Forge Casino Resort |
$2,883,706 |
$2,797,020 |
3.10% |
|
Mount Airy Casino Resort |
$2,380,314 |
$2,949,545 |
-19.30% |
|
Harrah’s Philadelphia |
$2,271,048 |
$2,071,503 |
9.63% |
|
Mohegan Pennsylvania |
$2,026,335 |
$2,662,142 |
-23.88% |
|
Hollywood Casino at the Meadows |
$1,632,924 |
$2,387,398 |
-31.60% |
|
Hollywood Casino York |
$1,496,542 |
$1,086,823 |
37.70% |
|
Hollywood Casino at Penn National Race Course |
$1,321,634 |
$2,176,702 |
-39.28% |
|
Live! Casino Pittsburgh |
$1,195,412 |
$1,375,312 |
-13.08% |
|
Presque Isle Downs and Casino |
$1,075,228 |
$1,319,443 |
-18.51% |
|
Hollywood Casino Morgantown |
$786,348 |
$870,996 |
-9.72% |
|
The Casino at Nemacolin |
$292,200 |
$263,030 |
11.09% |
|
Parx Shippensburg |
$48,185 |
$70,462 |
-31.62% |
|
Statewide Total |
$80,604,940 |
$78,482,947 |
2.70% |
Total tax revenue from table games play during April 2025 was $13,496,060*.
Internet Casino-Type Gaming (iGaming) Revenue
Casino games offered online generated monthly gross revenue totaling $227,708,892 during April 2025. Compared to revenue of $173,425,559 in April 2024, this represents an increase of 31.30%.
A breakdown of revenue of casino games offered online is as follows:
|
Casino Operator |
iSlots Revenue |
iTables Revenue |
iPoker Revenue |
Total iGaming Revenue |
|
Hollywood Casino at Penn National Race Course |
$57,479,821 |
$25,212,629 |
$498,895 |
$83,191,345 |
|
Valley Forge Casino Resort |
$48,266,132 |
$18,464,415 |
|
$66,730,547 |
|
Rivers Casino Philadelphia |
$31,127,572 |
$4,490,644 |
$266,573 |
$35,884,789 |
|
Harrah’s Philadelphia |
$8,115,975 |
$2,670,850 |
$378,874 |
$11,165,698 |
|
Golden Nugget |
$7,136,062 |
$534,327 |
|
$7,670,389 |
|
Parx Casino |
$4,809,436 |
$960,916 |
|
$5,770,352 |
|
Live! Casino Philadelphia |
$3,737,078 |
$861,343 |
|
$4,598,421 |
|
Mount Airy Casino Resort |
$1,755,991 |
$510,777 |
$1,193,745 |
$3,460,513 |
|
Presque Isle Downs and Casino |
$1,859,955 |
$1,253,532 |
|
$3,113,487 |
|
Bally’s Pennsylvania |
$2,570,604 |
$387,637 |
|
$2,958,241 |
|
Mohegan Pennsylvania |
$1,528,712 |
$301,957 |
|
$1,830,668 |
|
Wind Creek Bethlehem |
$1,091,159 |
$243,283 |
|
$1,334,442 |
|
Statewide Total |
$169,478,496 |
$55,892,309 |
$2,338,087 |
$227,708,892 |
Tax revenue generated from iGaming during April 2025 was $100,825,684*.
Total iGaming revenue for each of the casinos during April 2025 and April 2024, if applicable, is as follows:
|
Operator |
April 2025 |
April 2024 |
% Change |
|
Hollywood Casino at Penn National Race Course |
$83,191,345 |
$62,315,703 |
33.50% |
|
Valley Forge Casino Resort |
$66,730,547 |
$48,092,985 |
38.75% |
|
Rivers Casino Philadelphia |
$35,884,789 |
$30,642,859 |
17.11% |
|
Harrah’s Philadelphia |
$11,165,698 |
$9,409,722 |
18.66% |
|
Golden Nugget |
$7,670,389 |
$3,544,056 |
116.43% |
|
Parx Casino |
$5,770,352 |
$4,990,916 |
15.62% |
|
Live! Casino Philadelphia |
$4,598,421 |
$3,436,705 |
33.80% |
|
Mount Airy Casino Resort |
$3,460,513 |
$3,956,965 |
-12.55% |
|
Presque Isle Downs and Casino |
$3,113,487 |
n/a |
n/a |
|
Bally’s Pennsylvania |
$2,958,241 |
$3,812,426 |
-22.41% |
|
Mohegan Pennsylvania |
$1,830,668 |
$1,412,160 |
29.64% |
|
Wind Creek Bethlehem |
$1,334,442 |
$1,811,063 |
-26.32% |
|
Statewide Total |
$227,708,892 |
$173,425,559 |
31.30% |
Sports Wagering Revenue
April 2025 total sports wagering handle was $711,569,216, 10.14% above the April 2024 total of $646,061,065.
The taxable revenue figure for April 2025 was $42,533,444, or 0.29% higher when compared to April 2024, when taxable revenue was $42,412,510.
April 2025 sports wagering total handle and revenue are as follows:
|
Casino Operator |
Total Handle2 |
Retail Revenue |
Online Revenue |
Total Revenue |
|
Valley Forge Casino Resort |
$269,836,185 |
-$35,399 |
$20,110,270 |
$20,074,871 |
|
Hollywood Casino at the Meadows |
$185,602,950 |
$53,276 |
$12,092,299 |
$12,145,575 |
|
Presque Isle Downs and Casino |
$34,243,132 |
$31,271 |
$1,881,058 |
$1,912,329 |
|
Hollywood Casino at Penn National |
$32,151,458 |
$72,749 |
$1,604,825 |
$1,677,575 |
|
Hollywood Casino Morgantown |
$60,055,196 |
-$26,384 |
$1,510,609 |
$1,484,225 |
|
Harrah’s Philadelphia |
$25,824,434 |
$134,774 |
$1,105,911 |
$1,240,686 |
|
Hollywood Casino York |
$42,038,254 |
$918 |
$1,177,446 |
$1,178,364 |
|
Parx Casino |
$14,986,726 |
$263,367 |
$676,869 |
$940,237 |
|
Rivers Casino Pittsburgh |
$25,411,936 |
$218,799 |
$460,660 |
$679,459 |
|
Rivers Casino Philadelphia |
$12,149,428 |
$66,794 |
$512,660 |
$579,454 |
|
Live! Casino Pittsburgh |
$1,087,213 |
$247,640 |
$0 |
$247,640 |
|
Live! Casino Philadelphia |
$5,490,455 |
$151,438 |
$0 |
$151,438 |
|
Mohegan Pennsylvania |
$717,634 |
$117,077 |
$0 |
$117,077 |
|
Mohegan Lehigh Valley1 |
$712,790 |
$90,238 |
$0 |
$90,238 |
|
Wind Creek Bethlehem |
$828,888 |
-$620 |
$36,053 |
$35,434 |
|
Parx Shippensburg |
$42,879 |
$5,585 |
$0 |
$5,585 |
|
Mount Airy Casino Resort |
$389,661 |
-$26,742 |
$0 |
-$26,742 |
|
Statewide Total |
$711,569,216 |
$1,364,783 |
$41,168,661 |
$42,533,444 |
1 Operated by Mohegan Pennsylvania
2 A breakout of the handle between retail and online sportsbooks can be found on the website report.
Sports wagering revenue for each of the casinos and plus the one Off Track Betting facility during April 2025 and April 2024, if applicable, is as follows:
|
Operator |
April 2025 Sports Wagering Revenue |
April 2024 Sports Wagering Revenue |
% Change |
|
Valley Forge Casino Resort |
$20,074,871 |
$25,415,372 |
-21.01% |
|
Hollywood Casino at the Meadows |
$12,145,575 |
$9,828,569 |
23.57% |
|
Presque Isle Downs and Casino |
$1,912,329 |
$66,814 |
2762.17% |
|
Hollywood Casino at Penn National Race Course |
$1,677,575 |
$2,166,095 |
-22.55% |
|
Hollywood Casino Morgantown |
$1,484,225 |
$1,120,894 |
32.41% |
|
Harrah’s Philadelphia |
$1,240,686 |
$508,970 |
143.76% |
|
Hollywood Casino York |
$1,178,364 |
$635,301 |
85.48% |
|
Parx Casino |
$940,237 |
$1,343,210 |
-30.00% |
|
Rivers Casino Pittsburgh |
$679,459 |
$771,772 |
-11.96% |
|
Rivers Casino Philadelphia |
$579,454 |
-$591,769 |
-197.92% |
|
Live! Casino Pittsburgh |
$247,640 |
$87,253 |
183.82% |
|
Live! Casino Philadelphia |
$151,438 |
$587,965 |
-74.24% |
|
Mohegan Pennsylvania |
$117,077 |
$168,079 |
-30.34% |
|
Mohegan Lehigh Valley2 |
$90,238 |
$176,609 |
-48.91% |
|
Wind Creek Bethlehem |
$35,434 |
-$14,766 |
-339.96% |
|
Parx Shippensburg |
$5,585 |
$14,302 |
-60.95% |
|
Mount Airy Casino Resort |
-$26,742 |
$14,342 |
n/a |
|
South Philly Race & Sportsbook1 3 |
n/a |
$113,499 |
n/a |
|
Statewide Total |
$42,533,444 |
$42,412,510 |
0.29% |
1Operated by Parx Casino
2 Operated by Mohegan Pennsylvania
3 No longer operating
Tax revenue generated from sports wagering during April 2025 was $15,312,040*.
Video Gaming Terminals
Total adjusted revenue for April 2025 for video gaming terminals (VGTs) was $3,518,821, 3.55% lower than April 2024 when revenue was $3,648,270. By the end of April 2025, all VGT Operators offered the maximum permitted five machines at each of the 74 qualified truck stop establishments, compared to five machines at each of the 74 establishments at this time last year.
Truck Stop VGT adjusted revenue for each of the terminal operators during April 2025 is as follows:
|
VGTs Terminal Operator |
April 2025 VGT Revenue |
April 2024 VGT Revenue |
% Change |
|
Marquee by Penn1 |
$2,407,652 |
$2,388,864 |
0.79% |
|
J&J Ventures Gaming2 |
$800,157 |
$960,004 |
-16.65% |
|
Jango3 |
$311,012 |
$249,650 |
24.58% |
|
Accel Entertainment Gaming5 |
$0 |
$4,696 |
n/a |
|
Venture Gaming LLC4 |
$0 |
$45,056 |
n/a |
|
Statewide Total |
$3,518,821 |
$3,648,270 |
-3.55% |
1 operated VGTs in 32 establishments during April
2 operated VGTs in 27 establishments during April
3 operated VGTs in 13 establishments during April
4 operated VGT’s in 2 establishments but were not operational during April
5 operated VGTs in no establishments during April
Tax revenue collected from the play of VGTs in April 2025 was $1,829,787*.
Fantasy Contests
Fantasy Contests revenue was $1,256,994 in April 2025, an increase of 2.34% over April 2024, when revenue was $1,228,294
|
Fantasy Contests Operator |
April 2025 Fantasy Revenue |
April 2024 Fantasy Revenue |
% Change |
|
DraftKings |
$945,998 |
$915,949 |
3.28% |
|
FanDuel |
$181,113 |
$211,873 |
-14.52% |
|
Underdog Sports, Inc. |
$114,632 |
$84,085 |
36.33% |
|
Yahoo Fantasy Sports |
$10,635 |
$11,038 |
-3.65% |
|
Fantasy Sports Games LLC |
$2,760 |
$3,460 |
-20.24% |
|
Sportshub Technologies |
$1,937 |
$1,844 |
5.03% |
|
OwnersBox |
-$81 |
$37 |
-316.83% |
|
Jock MKR |
n/a |
$8 |
n/a |
|
Statewide Total |
$1,256,994 |
$1,228,294 |
2.34% |
Tax revenue collected from the play of Fantasy Contests in April 2025 was $188,549*.
*All tax revenue figures reflect amount generated prior to any adjustments by the PA Department of Revenue
The post PA Gaming Control Board Reports a Nearly 11% increase of Gaming Revenue in April appeared first on Gaming and Gambling Industry in the Americas.
It was a strong year
The Nordic gaming company Paf performed well in 2024, despite a slight decline in earnings. Paf’s open customer segment demonstrates that it is possible to be a sustainable entertainment company with decisive loss limits to prevent excessive gambling.
The Paf Group’s turnover increased from €177.1 million to €183.0 million in 2024, a rise of 3%. However, earnings decreased from €55.1 million to €54.3 million.
“We had a strong 2024, and we can be really pleased with the year. The trend of increased gambling taxes is bringing down earnings, but this was something we were prepared for,” said Christer Fahlstedt, CEO.
Paf’s profit decreased by 1%, primarily due to increased gaming taxes. Paf paid €11.8 million more in taxes in 2024 than in 2023. In particular, the lottery tax increased in Finland from 5% to 12%, and in Sweden from 18% to 22%.
“Paf is well equipped to handle tax increases thanks to our customer base, which generates long-term income from a large number of players who play for smaller amounts. Taxes on gaming companies are necessary, so that other gaming companies also can contribute back to society,” says Christer Fahlstedt.
21.5 million euros in Paf funds
The annual distribution of Paf funds will be €21.5 million. These funds are used for the benefit of society, including social activities, culture, youth work, sports, environmental activities, and more.
“The level of Paf funds that can be maintained year after year, combined with the voluntary measures taken in relation to responsible gaming towards customers, is impressive. There is no other company in the industry that is currently achieving anything similar,” says Jan-Mikael von Schantz, Chairman of the Paf Board.
Entertainment on sustainable terms
In 2024, Paf lowered the loss limit for young customers aged 20–24. Then, in March 2025, the loss limit for young customers was reduced again, and at the same time, the general loss limit for all age groups was lowered to €16,000.
“We want to be a sustainable entertainment company, and our results show that it is possible to achieve strong results without compromising on responsible gaming. I am genuinely surprised and a little disappointed that our state-owned counterpart Veikkaus in Finland has chosen to raise its loss limit this spring. But we are going our own way and they are going in a different direction,” says Christer Fahlstedt.
Open customer segments 2017–2024
The table below shows the development of gaming in different customer segments from 2017 to 2024. The red segment has been at zero in recent years, as Paf’s loss limits have prevented larger losses. The white segment shows the percentage of winning players who ended the year in profit.
“We are increasing revenue from the green segment by 12.3%, which benefits our development towards more sustainable revenue. We would like to see more operators be as open and transparent with their numbers as we are,” says Christer Fahlstedt.
All the numbers in Paf’s customer segments have been reviewed by auditors as part of the financial statement audit.
Read Paf’s full Annual Report for 2024 on aboutpaf.com/corporate/annual-reports.
The post Paf’s results for 2024 appeared first on European Gaming Industry News.
Golden Matrix Group Inc. (NASDAQ: GMGI) (“Golden Matrix” or the “Company”), a developer, licensor, and global operator of online gaming platforms, today announced financial and operational results for the first quarter ended March 31, 2025. The quarter reflects the Company’s strong group execution, platform innovation, and continued expansion across regulated gaming markets.
Brian Goodman, CEO of Golden Matrix, commented, “We entered fiscal 2025 with elevated operating efficiency and diversified revenue streams that continue to scale across high-growth markets. Our raffle segment reached all-time highs, our debt profile strengthened meaningfully, and our B2B and B2C businesses are both operating from positions of renewed financial and strategic strength.”
Financial and Strategic Highlights
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Record Raffle Segment Performance: The Company’s raffle businesses reported all-time highs in revenue, ticket sales, and prize values. User growth surged 146% year-over-year, with 26,000 new registrations in Q1.
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Strategic Balance Sheet Optimization: GMGI eliminated approximately $9.6 million in Lind Global debt and converted over $9.5 million in Meridianbet acquisition-related debt into equity this year, enhancing financial flexibility.
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Revenue Growth: Q1 2025 consolidated revenue was $42.7 million, up 72% year-over-year, partially impacted by a negative 4% FX headwind
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Gross Profit: Gross profit reached $24.2 million, with a consolidated gross margin of approximately 57%. Meridianbet gross margin improved to 72%, while the combined GMAG and Rkings/CFAC segments improved to 29%.
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The Company had a net loss of $300,000 or a 0-cent loss per share. This was a decline of $4.2 million, or 5-cents a share, from the same period last year. The decline was due to an increase in acquisition-related amortization of $1.7 million, interest expense of $1.5 million, and stock-based compensation of $1 million.
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Adjusted EBITDA(1) declined by $0.3 million, or 5%, to $5.6 million, as increased gross profit was offset by an operating spend increase to expand our business geographically, improve our market share, and advance our gaming technology in support of full-year growth initiatives.
Meridianbet Performance
Zoran Milosevic, CEO of Meridianbet, commented, “Our Q1 results demonstrate focused execution across regulated markets, bolstered by operational efficiency and continuous innovation. We are deepening user engagement, expanding licensing coverage, and strengthening our position as a global operator of choice.”
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Brazil: Secured a permanent online betting license, unlocking full national access in a projected $5.6 billion gross gaming revenue market for 2025.
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Africa: Launched B2B operations in Nigeria through a fully licensed local entity, entering one of Africa’s most dynamic gaming economies.
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Serbia: Renewed a 10-year online license, preserving regulatory continuity in a mature and profitable core market.
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User Metrics: First-time deposits grew 56%, new registrations rose 22%, and total deposits increased 12% compared to Q1 2024.
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Expanse Studios: Meridianbet’s proprietary game development arm expanded its North American footprint with five new integrations into U.S.-based sweepstakes casinos. The studio also advanced its in-house content roadmap, including an enhanced crash games portfolio and anticipates licensing in Romania for Q2.
Financial Outlook
Golden Matrix expects full-year 2025 revenue to range between $190 million and $195 million, reflecting a growth rate of 26% to 29% over 2024. The Company continues to invest in technology, content, and international licenses to drive long-term shareholder value.
Rich Christensen, CFO of Golden Matrix, added, “We’re executing on disciplined capital allocation and long-term strategic investments. Our improving net leverage, healthy free cash flow, and scalable platform position us to accelerate growth across 2025 and beyond.”
(1)Adjusted EBITDA is a non-GAAP financial measure. See also “Non-GAAP Financial Measures” and “Reconciliation of Net Income to Adjusted Earnings excluding Interest Expense, Interest Income, Tax, Depreciation Expense, Amortization Expense, Stock-based Compensation Expense and Restructuring Costs”, included in the tables at the end of this release.
In terms of GAAP accounting and Meridianbet being the accounting acquirer, the comparisons presented are correctly stated and are reflective of our new structure. Comparisons presented in terms of GAAP are the consolidated Company’s results against Meridianbet Group historical results and not against Golden Matrix Group’s, historical results.
The full visual presentation and the earnings call can be accessed at 8:00am ET on the Golden Matrix Group IR website at goldenmatrix.com/events-presentations/.
For more information, please visit goldenmatrix.com.
The post Golden Matrix Posts Strong Q1; Eliminates Debt and Accelerates Market Expansion appeared first on European Gaming Industry News.
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