Connect with us

News By Region

Arizona Opens New Event Wagering License Applications in February

Published

on


Arizona is ushering in an exciting new era in sports betting and event wagering.

The Arizona Department of Gaming (ADG) has made a groundbreaking announcement, signaling the opening of applications for event wagering licenses.

As anticipation builds, we delve into the specifics of this monumental development, outlining the steps, requirements, and implications for both tribes and sports franchises.

Join us as we embark on this journey into Arizona’s dynamic sports betting landscape.

A Pathway to Event Wagering: Arizona’s Bold Move

The Arizona Department of Gaming (ADG) has set the stage for a transformative leap in the state’s sports betting landscape. In a strategic move that promises to reshape the industry, Arizona is all set to accept new event wagering license applications starting in February. Here’s a closer look at the key facets of this milestone initiative.

Advertisement

Tribes and Sports Franchises Take the Center Stage

A significant aspect of this initiative is the allocation of licenses. Arizona’s tribal communities will be granted a reserved license, reaffirming the state’s commitment to fostering collaboration with its tribal partners. Simultaneously, Arizona is reserving a quota of licenses for its sports franchises, underlining the state’s enthusiasm for sports-related entities to participate actively in event wagering.

The Application Timeline

For those eager to embark on this event wagering journey, the application window opens between February 16th and March 4th. This critical period is the gateway for aspiring participants to submit their applications and express their interest in securing a license.

The Awaited Determination

Following the application window’s closure, the ADG will diligently review each submission. A crucial milestone arrives in March when the ADG announces the qualification determination, revealing the fortunate applicants who will advance in this transformative journey.

Arizona’s Sports Betting Surge: A Pivotal Catalyst

The ADG’s decision to open event wagering licenses comes on the heels of a remarkable surge in Arizona’s sports betting landscape. The latter part of 2023 witnessed a surge in sports betting handle, painting a promising picture for the future.

Advertisement

Record-Breaking Numbers

In October 2023, Arizona’s sports betting handle soared to nearly $650 million, marking a 4.8% increase compared to the same month in the previous year. Notably, this figure exhibited a commendable 6.2% uptick compared to September 2023.

Mobile Dominance

Mobile betting emerged as the dominant force, contributing to almost 99% of the betting turnover. Retail betting, in contrast, accounted for a mere $5.4 million. Two prominent names in the mobile gaming landscape, DraftKings and FanDuel, reported strikingly similar mobile gaming turnovers, each exceeding $220 million. FanDuel, however, emerged as the frontrunner in the retail betting segment, amassing $2.1 million in revenue.

The New Operators on the Block

The evolution of Arizona’s sports betting scene in 2023 saw several operators securing licenses. Notable among them is Bet365, which gained clearance to offer sports betting in August. While Bet365 reported a £61.2 million loss for FY2022-23, the operator remains optimistic about its heavy investment in US expansion ultimately yielding substantial dividends.

The ESPN Bet Entry

Another significant player that entered the Arizona arena in November is ESPN Bet, part of Penn Entertainment’s $1.5 billion partnership with Disney-owned ESPN, the largest sports media brand in the US. ESPN Bet’s launch in Arizona marked its presence in 17 states, bolstering the competitive landscape of online sportsbooks.

Advertisement

As Arizona embarks on this transformative journey, the event wagering license applications represent a pivotal moment. Stay tuned for more updates on the unfolding developments in Arizona’s dynamic sports betting industry.

Jerome, a valuable addition to the Gamingo.News team, brings with him extensive journalistic experience in the iGaming sector. His interest in the industry was sparked during his college years when he participated in local poker tournaments, eventually leading to his exposure to the burgeoning world of online poker and casino rooms. Jerome now utilizes his accumulated knowledge to fuel his passion for journalism, providing the team with the latest online scoops.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News By Region

Light & Wonder Set to Illuminate Québec’s VLT Market with Loto-Québec Deal

Published

on


A Game-Changing Alliance: Light & Wonder Joins Forces with Loto-Québec for VLT Expansion

In a strategic move set to redefine the Québec gaming market, Light & Wonder has announced a pivotal agreement with Loto-Québec. Slated for 2024, this partnership will see the introduction of Light & Wonder’s KASCADA™ DUAL SCREEN video lottery terminals (VLTs) across the province, marking a significant milestone in the company’s global expansion.

Launching a New Era of Gaming in Québec

Through this agreement, Light & Wonder will make its debut in the Québec market by supplying its state-of-the-art KASCADA™ DUAL SCREEN gaming machines. This deployment is set to revolutionize the gaming experience province-wide, offering players a diverse suite of new and engaging games.

A Diverse Portfolio for Enhanced Player Experience

The KASCADA™ DUAL SCREEN cabinet’s launch will feature a compelling game suite. Notable titles include Bonus Sevens Wild™, Monopoly Jackpot Station, Huff N’ Puff™, Life of Luxury™, 88 Fortunes™, Win 1000™, Bier Haus™, Rich Little Piggies™, Flush Frenzy™, and Jackpot Party™ Keno, promising a varied and immersive gaming experience.

Amidst a Competitive Market Landscape

This announcement comes hot on the heels of IGT’s contract to modernize Loto-Québec’s VLT network and Aristocrat’s entry into the Québec VLT gaming market. Light & Wonder’s agreement signifies its competitive edge in an evolving gaming landscape.

Advertisement

Light & Wonder’s Commitment to Global Excellence

Siobhan Lane, CEO of Gaming at Light & Wonder, expresses pride in bringing their acclaimed content and hardware to Québec. This partnership not only expands Light & Wonder’s market presence but also cements its reputation as a top cross-platform global games provider.

Loto-Québec’s Strategic Collaboration

Stéphane Fraser, Executive Vice President and COO of Gaming Establishments at Loto-Québec, welcomes the partnership with Light & Wonder. This collaboration aligns with Loto-Québec’s goal of continually enhancing the gaming experience for players in the province.

Leadership and Strategic Direction

This announcement follows the appointment of Michael Marchetti to Light & Wonder’s Board of Directors, previously Director of SciPlay Corporation, which Light & Wonder acquired in October 2023. Marchetti’s expertise will further guide Light & Wonder’s strategic direction and growth.

Conclusion:

The collaboration between Light & Wonder and Loto-Québec marks a significant development in Québec’s VLT gaming market. With the introduction of innovative KASCADA™ DUAL SCREEN machines and a diverse game suite, Light & Wonder is poised to offer an unparalleled gaming experience. This agreement underscores the company’s commitment to expanding its global footprint and enhancing player experiences, solidifying its position as a leader in the gaming industry.

Advertisement

Continue Reading

Trending

Gamingo.News stands as a premier digital destination dedicated to delivering top-tier news and insights in the gaming and gambling industry. This specialized media outlet garners the attention of over 120,000 readers each month, providing them with engaging content, current news, and in-depth analyses.
The platform offers extensive coverage of various facets of the gaming world, including both online and brick-and-mortar gaming, wagering, esports, updates on regulations and compliance, as well as technological innovations. Regular content includes daily news stories, press releases, unique interviews, and comprehensive reports on events.
Moreover, Gamingo.News organizes webinars pertinent to the industry and offers detailed reports, establishing itself as a comprehensive information source for those interested in learning about gaming market operators, suppliers, regulators, and professional services. The portal's main objective is to keep its large audience informed about the latest news, trends, and developments in the gaming and gambling sectors. It focuses particularly on the European igaming market but also covers significant global news, proving to be an invaluable tool for gaming professionals, operators, and enthusiasts.

For inquiries, reach out at: sales@gamingo.news

For editorial or PR submissions, contact: media@gamingo.news

Copyright © 2024 Gamingo.News.