Morgan Stanley has revised its Macau-wide gross gaming revenue (GGR) estimates for 2023, with gaming revenues now projected to reach almost US$20 billion and rise to over US$25 billion next year. Analysts Praveen Choudhary, Gareth Leung, and Stephen Grambling expect mass gaming revenues to reach 90% of 2019 levels this year and 115% in 2024. The gross gaming revenue (GGR) is predicted to reach US$19.9 billion or 88% of pre-COVID mass levels this year, increasing to US$25.7 billion or 114% next year. Sands China and MGM China have also reported a strong recovery trajectory, leading to an increase in EBITDA estimates for both concessionaires.

The Vermont Senate has given preliminary approval to H.127, a bill that would legalize online sports betting in the state. The legislation would allow up to six companies, such as DraftKings and FanDuel, to operate sportsbooks in Vermont. The bill proposes a dedicated fund to hold the revenue and fees collected by the state in its role overseeing the market, with some of the money set aside for programs and resources targeting problem gambling. The Senate’s version of the bill maintains a House proposal that Vermont take at least 20% of the adjusted gross revenue that sports betting operators make in the state each year, but changes the operating fees charged to each company. Senators also agreed to remove language from the House version that […]

Bally’s Corp., the Rhode Island-based operator of casinos and online sports betting sites, is relaunching its online sportsbook, Bally Bet, in the United States with the help of technology providers Kambi Group PLC and White Hat Gaming. Bally’s had previously used an in-house platform, but after conducting a thorough evaluation, the company decided to switch to an exterior one to improve its online sportsbook and drive down costs. Bally’s has an option to buy a license to part of Kambi’s online and retail technology source code pending certain material performance metrics. The company expects to relaunch Bally Bet in the US by the end of 2023 and sees the potential to grow globally.