Monthly Archives: February 2020

Niagara Falls casino ops boost Mohegan Gaming & Ent revenue

Casino operator Mohegan Gaming & Entertainment (MGE) saw its Q4 revenue jump by one-quarter thanks to its new Canadian contract and its Pennsylvania sports betting and online gambling operations.

Figures released this week show MGE’s net revenue hitting $399m in the final three months of 2019, up 24.9% year-on-year. Earnings rose a more modest 4.5% to $75m as margins fell 3.7 points to 18.8%.

The bulk of the revenue gain came via MGE Niagara Resorts, the casino operations on the Canadian side of Niagara Falls owned by the Ontario provincial government and for which MGE won the management contract in September 2018 (but only started running last summer).

These operations added revenue of $85m and earnings of $3.8m to MGE’s Q4 results, although MGE said earnings would have been $6m higher were it not for a lower than expected table games hold. The results were also impacted by “especially challenging weather.” Sure, blame Canada.

XFL names Fox Bet its latest authorized gaming operator

Fox Bet is the latest official gaming partner of the XFL, which claims it’s the only football league “geared to the sports betting future that is coming fast.”

On Friday, the XFL announced that the Fox Bet joint venture of The Stars Group and Fox Sports Network was the upstart football league’s latest authorized gaming operator. Fox Bet joins DraftKings, which signed both sports betting and daily fantasy sports partnerships earlier this week, while FanDuel announced a DFS deal with the XFL on Thursday.

The deal allows Fox Bet to incorporate official league data, team logos, player and coach likenesses and ‘certain league content’ via the Fox Bet sports betting platform and the Fox Sports Super 6 free-play game. The revived XFL, which operated for one extremely flashy but ultimately doomed season at the turn of the century, will kick off its new 10-week season this Saturday with broadcasts on Fox Sports and ABC/ESPN.

These broadcasts will break new ground in the US sports world by incorporating betting odds both onscreen and via the play-by-play commentary. That said, the commentators will likely include caveats that only viewers in states that have authorized legal betting – and only nine of those states have so far authorized XFL betting – should be placing wagers.