The GI Newswire: 6 May 2024

Gambling Commission and Betting and Gaming Council announce new rules

The Gambling Commission (GC) and Betting and Gaming Council (BGC) have announced a list of new rulings and standards to be followed by gambling companies in the UK. The rules by the GC are set to be implemented in four stages until completion in February 2025, while the BGC’s Code on Customer Checks, written jointly with the GC, is a voluntary financial assessment scheme. Both have been created ahead of the implementation of the British government's White Paper.?Read the full story here.

Other stories from Europe:

• MGM Resorts introduces BetMGM to Dutch market (Read)
• KSA announces final dates for implementation of responsible gaming policy rules (Read)
• EGBA research: Europe embraces multi-licensing for online gambling (Read)
• Spelinspektionen releases new measures on match-fixing and illegal operations (Read)

DraftKings Q1; revenue up 53%, operations remain at a loss

DraftKings has reported its financial earnings for the first quarter of 2024. In total, the sportsbook generated revenue of $1.18bn, up 53% year-on-year, with an operating loss of $138.8m – a reduction of over $200m, compared to the operating loss of $389.8m reported this time last year. Significantly, adjusted EBITDA was also positive this quarter, totalling $22.4m. While down from the $151m reported in Q4, it continues the sportsbook's trend of positive adjusted EBITDA, having reported negative adjusted EBITDA of $221.6m in Q1 2023. Read the full story here.

Other stories from North America:

• Penn Q1 results; overall revenue down, ESPN Bet adjusted EBITDA loss hits $196m (Read)
• Paysafe launches “Pay by Bank” for US iGaming (Read)
• Light & Wonder powers Golden Nugget Casino loyalty program (Read)
• Kambi extends partnership with Mohegan in Pennsylvania (Read)

Macau sees 26.0% year-on-year growth April GGR

According to the DICJ, Macau's year-on-year growth in GGR remains robust, recording a 26% increase compared to April 2023. The total GGR for the first four months of 2024 stands at MOP$75.87bn (US$9.41bn), marking a substantial 53.7% rise from the same period last year and reaching 76.1% of GGR levels in 2019. The positive trajectory in Macau's gaming industry indicates a promising outlook for the region's economic recovery, driven by increased tourism and improved consumer confidence.?Read the full story here.

Other stories from Asia-Pacific:

• Global Gaming Awards Asia-Pacific 2024: Shortlist revealed (Read)
• Melco partners with Sri Lanka in City of Dreams Sri Lanka (Read)
• Q1: MGM China continues strong growth post-pandemic (Read)
• Philippine authorities crack down on illegal online gaming and scams (Read)