Another casino games supplier has credited the reopened of Las Vegas casinos for saving their second quarter. AGS feels they did better than expected for the last three months, and looks forward to the rest of the year.

The quarter couldn’t be defined as good by any means. AGS saw a net loss of $42.6 million, or $1.20 per diluted share, compared with a net loss of $7.6 million for the same period in 2019. Adjusted EBITDA (Earnings before interest, taxes, depreciation, and amortization) showed a loss of $1.6 million, a sure mark that things were bad as it was in the positive for $35.7 million in 2019. Overall revenue was down to $16.8 million, a 77.4% drop from $74.5 million in 2019.

“Although casinos started to reopen in the later part of the quarter, we remained disciplined in how we reintroduced cost back into the business, ramping departments that are essential to run our business, such as field service, R&D and manufacturing,” said AGS President and Chief Executive Officer David Lopez.

He also noted in their August 5 announcement that thanks to new products, like Starwall, Orion Rise and Orion Portrait, the future is looking good for AGS. “Given the breadth and depth of our current content portfolio, we believe that the long-term opportunities for AGS remain intact,” he said.

Another casino games supplier has credited the reopened of Las Vegas casinos for saving their second quarter. AGS feels they did better than expected for the last three months, and looks forward to the rest of the year.

The quarter couldn’t be defined as good by any means. AGS saw a net loss of $42.6 million, or $1.20 per diluted share, compared with a net loss of $7.6 million for the same period in 2019. Adjusted EBITDA (Earnings before interest, taxes, depreciation, and amortization) showed a loss of $1.6 million, a sure mark that things were bad as it was in the positive for $35.7 million in 2019. Overall revenue was down to $16.8 million, a 77.4% drop from $74.5 million in 2019.

“Although casinos started to reopen in the later part of the quarter, we remained disciplined in how we reintroduced cost back into the business, ramping departments that are essential to run our business, such as field service, R&D and manufacturing,” said AGS President and Chief Executive Officer David Lopez.

He also noted in their August 5 announcement that thanks to new products, like Starwall, Orion Rise and Orion Portrait, the future is looking good for AGS. “Given the breadth and depth of our current content portfolio, we believe that the long-term opportunities for AGS remain intact,” he said.

Another casino games supplier has credited the reopened of Las Vegas casinos for saving their second quarter. AGS feels they did better than expected for the last three months, and looks forward to the rest of the year.

The quarter couldn’t be defined as good by any means. AGS saw a net loss of $42.6 million, or $1.20 per diluted share, compared with a net loss of $7.6 million for the same period in 2019. Adjusted EBITDA (Earnings before interest, taxes, depreciation, and amortization) showed a loss of $1.6 million, a sure mark that things were bad as it was in the positive for $35.7 million in 2019. Overall revenue was down to $16.8 million, a 77.4% drop from $74.5 million in 2019.

“Although casinos started to reopen in the later part of the quarter, we remained disciplined in how we reintroduced cost back into the business, ramping departments that are essential to run our business, such as field service, R&D and manufacturing,” said AGS President and Chief Executive Officer David Lopez.

He also noted in their August 5 announcement that thanks to new products, like Starwall, Orion Rise and Orion Portrait, the future is looking good for AGS. “Given the breadth and depth of our current content portfolio, we believe that the long-term opportunities for AGS remain intact,” he said.

The idea that pent up demand would help casinos surge back hasn’t been true for the entire industry, but the U.S. east coast seems to be seeing the phenomena in full force. Maryland’s casinos have come back strong, and Penn National Gaming (PNG) is optimistic that pent up demand could be the road to a full recovery.

Maryland recovery is strong

Maryland’s casinos saw the first full moth of operation in July, and even with limited capacities, three casinos are actually doing bigger business, year on year. LIVE! Casino & Hotel saw gaming revenue of $51.5 million, up 4.5% when compared with July 2019. Revenue was also up at the Hollywood Casino and Rocky Gap casino.

Overall though, numbers are slightly down. With the state’s six casinos combined, revenue came in at $139.9 million, down $9.4 million from the previous year, or 6.3%.

Illinois sports bettors just got their second mobile option from DraftKings. Now launched with the Casino Queen digital app, the service is up and running and ready to compete with BetRivers.

Although advertising had been running in the state for a while now, the app was finally given the clear to launch after some fancy renaming at the Casino Queen. “Illinois is home to some of the most passionate sports fans and most iconic sports teams in the entire country,” said Jason Robins, DraftKings co-founder and CEO, in a press release. “DraftKings’ dedication to innovation and providing customers with a premier sports betting experience has made our app the top-rated option and we can’t wait for fans in Illinois to discover why.”

Sadly for the operator, they missed out on a huge window of opportunity created by the Covid-19 pandemic. Governor J.B. Pritzker had lifted a requirement for in-person registration at casinos for mobile sports betting. That lift has since expired, so DraftKings potential customers will have to head over to the Casino Queen, 4 hours from Chicago, to get registered.

But that won’t stop them from monopolizing the St. Louis mobile sports betting market. The Casino Queen is just across the state line from Missouri’s biggest city, and DraftKings is expected to dominate in a state where mobile betting still hasn’t been legislated.

U.S. President Donald Trump has followed through on his threat to try and push TikTok out of the country. By Executive Order, the President has banned all transactions with ByteDance, the company that runs the app.

INBOX: @realDonaldTrump has signed an executive order to ban TikTok in 45 days. pic.twitter.com/1zR4HgCPVj

— Andrew Feinberg (@AndrewFeinberg) August 7, 2020https://platform.twitter.com/widgets.js

Although many outlets (and the tweet above) are reporting this as a total ban of TikTok, that’s not actually the case. Effective September 20, U.S. authorities will prosecute those who make transactions with ByteDance, but the app itself will still be perfectly legal to use within the U.S.

There’s some relief on the way for Las Vegas tavern owners, who’ll be getting a portion of their inactive slot machines turned back on. The Clark County Commission approved a resolution that will give taverns the right to temporarily add seven upright slot machines to replace shuttered bar top games.

Nevada Governor Steve Sisolak took a hyper-local approach to the COVID-19 situation, with small business taking a beating over the course of the pandemic. The Nevada governor ordered the closure of standalone bars and bar top areas to reduce crowd sizes at venues and encourage social distancing. Many restricted gaming locations rely on the revenue of bar top slots.

While giving the green light to provide some relief to tavern owners, Clark County Commissioner Justin Jones was unsure if this would be temporary. “In a judicious period of time, we will come back with a motion to suspend this resolution”

Restricted gaming in Nevada has proven to be a major revenue winner for small to medium business, with video poker slots accounting for 805 of the revenue for some taverns. There are more than 13,200 gaming machines across Clark County.

Scottish team Ayr United continued their preparation for the 2020/21 season, unveiling new signings. The Honest Men have been active in the transfer market, making a play for former Inverness midfielder Tom Walsh and former Rovers right back Michael Miller.

More on today’s transfer news including the thoughts of manager Mark Kerr ➡️ https://t.co/4NggTvAIE6 pic.twitter.com/WDPCQTbeLh

— Ayr United (@AyrUnitedFC) August 6, 2020https://platform.twitter.com/widgets.js

Troon native Walsh was excited to sign a one-year deal as he looks to make his mark on the Championship for the upcoming 2020/21 season.

Millions of dollars for some; billions of dollars for others. These are the types of losses that different sports organizations are looking at because of the prolonged impact the coronavirus will have on their businesses. It’s going to take several years for anyone to see a full recovery, and that might not even be possible if the problem isn’t brought under control soon. The NBA and the NHL may have been able to complete their seasons in a bubble, but that isn’t possible for all sports everywhere, all the time. The Lawn Tennis Association (LTA), the governing body of tennis in the U.K., is hoping it can fast track its recovery by offering a number of new solutions that might ultimately make their way to other sports organizations, as well. It is calling on Deloitte to deliver an Ace.

The LTA has turned to the multinational, multidimensional firm to help it increase engagement and interest in tennis through a number of digital solutions. The initiatives are designed to encourage greater participation in the sport, as well as introduce programs to enhance the user experience, such as personalized data on facilities, upcoming events and more. Deloitte will also establish a development program for accredited coaches in the LTA who want to increase their business education and further their accreditation. 

LTA Head of Strategy and Innovation Chris Pollard says, “We are excited to announce this collaboration with Deloitte and will work with them to boost engagement with tennis through new technologies, learning from their expertise in digital transformation. For too long, tennis participation numbers have suffered as a result of how difficult it can be to find a court, a coach or someone to play with. Through the launch of these new digital tools, we aim to make booking a tennis court as simple as ordering a takeaway.”

All of the initiatives the collaborative effort looks to introduce are applicable to all sports groups, not just tennis. Deloitte will assist with improvements to the LTA’s website and create new web pages to focus on inclusivity. The ultimate goal, in addition to increasing the popularity of tennis, is to make the LTA more well-rounded and help it achieve a higher level of status as a trendsetting sports organization. 

As the sports industry starts to see signs of life, now is a great time to get behind licensed sports gambling companies. Score Media and Sports, the parent company of sports wagering platform theScore, is ready to take its operations to a whole new level, completing a secondary funding round that saw it add $25 million to its coffers. That money will come in handy as the company looks to expand across North America and capture a large portion of a mega-billion-dollar industry. 

theScore offers an app that allows users to receive personalized results on live scores, news, stats and gambling information. It also offers a mobile sports gambling app, theScore Bet, which has already been introduced to sports gambling fans in New Jersey. After completing a $40-million funding round last September, the addition of another $25 million through the latest offering shows the value investors see in the company’s future. 

In addition to its New Jersey operations, theScore is now ready to get into Colorado. It just received approval this week from the Colorado Division of Gaming to launch mobile and online sports gambling, which will prove highly lucrative given the state’s recent success with its sports betting. In just the first full month of legalized sports gambling in May, the state saw a handle of $25.62 million – not bad, considering there were no major U.S. sports in action at the time. In a press release, company founder and CEO John Levy asserts, “We can’t wait to launch theScore Bet in Colorado later this month and showcase our incredible betting product to the passionate sports fans there,” said John Levy, Founder and CEO of theScore. “This regulatory approval is another significant step toward theScore Bet’s multi-state expansion as we roll out our uniquely integrated media and betting experience across the country.”

The company is also introducing its app to Indiana, where it has worked out a deal to be the skin for Penn National Gaming. This past June, it scored another big partnership when it became an authorized gaming operator for MLB. The continued expansion into different markets and facets of sports is leading to the company quickly becoming one of the major sports gambling entities in the U.S. The fact that it has been able to score important deals in both Colorado and Indiana is noteworthy, because both of these states are expected to be leaders among all states that legalize sports gambling.