Public Gaming International Magazine May June 2023

48 PUBLIC GAMING INTERNATIONAL • MAY/JUNE 2023 P U L S E while economic uncertainty is tempering future industry growth expectations, according to the American Gaming Association’s (AGA) Gaming Industry Outlook presented in partnership with Fitch Ratings. Sports betting has generated millions of dollars in revenue, but the Ohio Lottery’s piece of the pie is so small that it’s been a losing proposition for both the Lottery and state coffers in what’s still a young industry at’s because the Lottery’s sports-betting kiosks found in bars, restaurants and grocery stores bring in only a sliver of the money wagered each month, far exceeded by both mobile-betting apps and casino-style sportsbooks that don’t come under the Lottery’s umbrella. Since sports gambling became legal in Ohio on Jan. 1, the Lottery’s share of the kiosks’ revenue has not been enough to cover its costs. ese kiosks also don’t generate many tax dollars for the state each month. While other forms of gambling, like the slot machines in racinos and lottery tickets, are pro table for the Ohio Lottery, the Commission knew going in that sports betting would only generate a “minimal” amount of money, Ohio Lottery Commission spokesperson Danielle Frizzi-Babb said. “While we were tasked by the legislature with starting the lottery sports gaming program, we knew that it was not going to be as lucrative as traditional lottery products. Unlike traditional lottery games that have xed payouts and prize structures, sports gaming’s odds are volatile and change quickly, and sometimes proprietors take a loss.” She also said that the betting kiosks are competing against mobile sports-betting apps. Of the $1.75 billion bet on sports in January and February, 97.5% was on mobile apps and 2.3% was bet at in-person betting lounges. Just $1.8 million, about one-tenth of one percent, was bet on the Lottery’s kiosks. Sports betting is just a small part of the Lottery’s business. Last year it announced $1.4 billion in pro t, which was given to the Lottery Pro ts Education Fund. Frizzi-Babb said traditional lottery sales and Racino revenue remains strong, and the Lottery is on pace to set another record for pro ts this year. Genting Malaysia reaches agreement to sell its near 16-acres of land in Miami, Florida for US$1.23 billion Purchased in 2011 for $259 million to build a casino that ended up not getting state approval, Genting manages to turn a big pro t anyway. Las Vegas Sands secures lease agreement with Nassau County for proposed New York casino Flutter Entertainment (The £26bn owner of Fanduel, SkyBet, Betfair, PaddyPower, Sisal, Pokerstars) focuses its future on the U.S. and acquire a stock listing in the U.S. Could Maryland Have 20 Mobile Sportsbooks By 2024? ere are currently 15 digital books licensed in Maryland, with the total number of Sportsbooks likely to exceed 20 by next year. IGT awarded 3-year extension to run Rhode Island Lottery’s sports betting app INTRALOT, Inc. signs new Sports Betting Contract with British Columbia Lottery Corporation April 6, 2023 INTRALOT is pleased to announce that its U.S. subsidiary INTRALOT, Inc. has signed a 3-year contract, including an option of three annual extensions, with British Columbia Lottery Corporation (BCLC) for the provision of its next-generation sports betting platform INTRALOT Orion and relevant managed services, to enable the operations and management of BCLC’s retail sportsbook. NeoGames amends and extends Caesars Entertainment agreement "I'm always amazed and delighted at what I discover in Public Gaming Magazine."