Monthly Archives: May 2019

Denmark gambling market a case of online gain, land-based pain

Denmark’s regulated gambling market was a clear case of online improvements and land-based declines in the first quarter of 2019.

Figures released this week by the Spillemyndigheden regulatory agency showed Danish-licensed operators generated revenue of just over DKK1.6b in the three months ending March 31, a modest 4.5% improvement over the first quarter of 2018.

Sports betting remains Denmark’s dominant gaming vertical, with revenue of DKK619m in Q1, representing 39% of the total pie. That sum wasa 10.4% higher than Q1 2018 but marks the lowest total the market has generated in four quarters.

Mobile apps remain the dominant betting medium with a 53.3% share of total wagering revenue. Desktop wagering ranked a distant second with 27.3%, but this was up more than five points year-on-year. Land-based channels accounted for 21.9% of total wagering revenue, down nearly 2.5 points year-on-year.

Wynn, MGM in talks re possible Encore Boston Harbor sale

Casino operator Wynn Resorts has confirmed it’s having preliminary talks regarding the potential sale of its Massachusetts resort casino project to rival MGM Resorts.

On Friday, in response to questions posed by the Boston Globe, Wynn and MGM issued a joint statement confirming that the companies’ respective CEOs had, “over the past several weeks … engaged in conversations around the potential sale of Encore Boston Harbor,” the Wynn mega-project that is scheduled to open its doors on June 23.

The statement cautioned that these talks were “very preliminary and of the nature that publicly traded corporations like ours often engage in.” The companies stressed that they had no idea where these talks might lead, while reaffirming their mutual commitments to the communities in which they operate.

While Wynn’s $2.6b Massachusetts property has yet to open, MGM opened its $960m MGM Springfield property in the southwestern corner of the state last September. The Springfield casino has so far performed well below the company’s original projections, and its April gaming revenue was $21.8m, down 15% from March and down 19.2% from the property’s first full month of operations.