Public Gaming Magazine Sept/Oct 2021

66 PUBLIC GAMING INTERNATIONAL • SEPTEMBER/OCTOBER 2021 P U L S E Connecticut Lottery Corp. close to naming vendor for lucrative sports betting Virginia Lottery Board approves casino gaming regulations, now awaits the governor’s approval If the governor approves, there will be a 60-day public comment period, leading up to final approval by the Lottery Board. “The Lottery’s Gaming Compliance Department and Office of General Counsel have been diligently working to set up the regulatory and licensing framework to ensure casino gaming in Virginia is secure and transparent,” said Virginia Lottery Executive Director Kevin Hall. “In this role, we see the Lottery as the public’s watchdog, confirming that the law and regulations are followed, and the integrity of casino gambling is protected.” Tribal gaming revenue up after sharp COVID-19 decline Las Vegas roars back to life with record gambling win Barely a year after the Las Vegas Strip was shut down by Covid-19, its world-famous casinos have roared back to a record-breaking summer thanks to a remarkable winning streak. Nevada pocketed an all-time record $1.36 billion last month from gamblers, who are flooding back to the city nicknamed Lost Wages after months confined at home with little to spend their money on. Macau Casinos lose a third of their value, more than $18 billion, over uncertainty as Beijing increases its oversight actions Eilers & Krejcik Gaming estimates US iGaming, Sports Betting Could Hit $40B As of the end of July, domestic sports betting revenue is up 435 percent year-over-year to $2.12 billion, with New Jersey accounting for $423 million through the first seven months of the year. Currently, sports wagering is live and legal in 26 states and Washington, DC. Eilers & Krejcik Gaming estimates sports betting revenue could reach $5.8 billion in 2023 and jump to $19 billion if all 50 states join the party. For iGaming, the research firm sees that revenue tally increasing to $3.7 billion next year and $20.8 billion if all states sign off on it. Louisiana - 8 casinos have applied to handle sports betting WORLD NEWS South Africa bans “bet-on-the- outcome-of-the-lottery” synthetic lottery operators in court victory over Lottostar Ithuba Holdings has said the court victory earlier this week sends a strong signal to gaming companies that have been profiting by illegally feeding off the National Lottery. “In a landmark judgment for the gaming sector, Ithuba, as the authorised National Lottery Operator, has won its longstanding case against bookmaker Lottostar. Ithuba and the National Lotteries Commission in 2016, brought an application for a declaratory order and interdict against Lottostar. The judgment declares that the bookmaker’s practice of taking bets on the outcome of any lottery (including the South African National Lottery) is illegal,” Ithuba said in a statement. Ithuba CEO Charmaine Mabuza, said, “We welcome the judgement which reaffirms that only Ithuba as the National Lottery operator can lawfully offer bets on the lottery. Ithuba has always been driven by the desire to offer maximum contributions towards the betterment of South Africans. Ithuba has touched many lives through its high-impact programmes and contributed over R1.8 billion to various socio- economic initiatives and good causes through lottery ticket sales.” “When gaming companies illegally encroach on this terrain, they are in effect siphoning off funds that contribute positively to the bet- terment of the South African economy. The judgment, delivered by the Mpumalanga High Court of Appeal, sets a precedent for Ithuba to challenge any bookmaker deriving free financial benefits through unlawfully accepting bets on the outcome of the National Lottery, and to any responsible Provincial Gambling Board to put an end to this unlawful practice,” Ithuba further stated. “Lottostar along with Betting World (which was granted leave to intervene as the third respondent) were taking bets on the outcome of the South African National Lottery and some foreign lottery draws. Both companies relied on their bookmaker licences, issued by the Mpumalanga Gaming Board. However, the Provincial Gambling Act does not empower provincial gaming boards to authorise book- makers to accept bets on the outcome of the National Lottery draws.” The High Court interdicted Lottostar from offering bets on the outcome of any lottery and directed Lottostar, the Mpumalanga Gaming Board and Betting World to pay all Ithuba’s legal costs. The judgment declared the exclusive right of Ithuba to operate the National Lottery to be statutorily protected. This makes it illegal for any bookmaker to offer bets on the National Lottery. International Game Technology PLC Reports Second Quarter 2021 Results - Revenue up 74% to over $1.0 billion, fueled by strong increases in all businesses, including 35% Global Lottery same-store sales growth - Delivered operating income of $244 million, highlighting impressive Global Lottery operating leverage and excellent progress on structural cost savings - Net income of $365 million comprised of $39 million loss from continuing operations and income from discontinued operations of $404 million, including gain on sale of assets - Adjusted EBITDA increases 170% to $442 million, among the highest in Company history - Generated $500 million in cash from continu- ing operations and a record-level $380 million of free cash flow during the first half of the year - $1.0 billion net debt reduction in first half; net debt leverage improved from 6.4x to 4.3x, reaching target six months early - Raising 2021 outlook; now expect to exceed 2019 levels for key financial metrics this year IGT Wins Printing Business with Westdeutsche Lotterie, Germany’s Largest Lottery Under the terms of the agreement, IGT will provide a range of instant ticket production and services for WestLotto with unlimited potential. The Lottery will gain additional marketing support from IGT’s Instant Advantage™ program that includes portfolio planning, game development, analytics, distribution, and retail execution to provide the best player experience. IGT to Continue Operating La Junta de Protección Social Lottery in Costa Rica “The electronic games that JPS has in the market through our contract with IGT are additional opportunities to continue generating profits for the social good, and in this way, helping to fulfill the mission of our institution,” said Esmeralda Britton González, President of the Board of Directors of Junta de Protección Social. “The brands of products from JPS that are offered through IGT have been of interest to people of different ages who acquire them in the different points of sale across the country near their homes or workplaces, which helps us to achieve our sales goals. It is the expecta- tion of the board of directors that with this extension, we will continue to improve the offer in the market and increase loyalty from our customers.”