Monthly Archives: October 2020

Twin River’s ‘pure gamer’ strategy limits Q3 casino profit decline

US regional casino operator Twin River Worldwide Holdings (TRWH) posted solid if unspectacular earnings in the final financial report before its rebrand as Bally’s Corporation.

Figures released this week show the Rhode Island-headquartered TRWH generated revenue of $116.6m in the three months ending September 30, a nearly 10% fall from the same period last year. But adjusted earnings managed a 6.8% rise to $38m while net income slipped only 4% to $6.7m.  

Pandemic restrictions on TRWH’s re-opened casinos were blamed for the revenue decline, even though the total got a boost from the additions of Casino KC (Missouri) and Casino Vicksburg (Mississippi), which formally became part of the TRWH fold on July 1.

The fact that the profit decline was limited to single-digit territory was credited to reduced marketing spending, the elimination of lower-margin amenities and “labor savings.” TRWH CEO George Papanier said the company’s “disciplined approach” had given the company the liquidity “to better deal with the kind of uncontrollable events 2020 has dealt us.”

Kenya gambling regulator blocks SportPesa betting site’s return

Kenyan sports betting operator SportPesa’s triumphant return to its home market has been rudely disrupted by the local gambling regulator.

On Friday, SportPesa’s official social media feeds enthusiastically proclaimed that the company was once again free to accept Kenyan bettors’ action thanks to the transfer of its brand name to a new locally licensed bookmaker, Milestone Games Ltd, about which precious little is known.

The excitement didn’t last long, as Kenyan media reported Saturday that Cyrus Maina, chairman of Kenya’s Betting Control and Licensing Board (BCLB), had written a letter to Milestone operations manager Bernard Chauro on Friday prohibiting Milestone from using the SportPesa brand.

Maina told Chauro that there was “a variance in the trade name the board approved vis-à-vis the name Milestone Games Limited currently wishes to adopt.” Maina noted that Milestone had been granted authority to use the SportPesa brand by Sportpesa Global Holdings.

Wynn Resorts’ WynnBET betting/iGaming brand inks NASCAR deal

Casino operator Wynn Resorts has signed a sports betting partnership with motorsports organization NASCAR to boost the profile of its new WynnBET digital gaming division.

On Friday, Wynn and NASCAR announced a ‘national multi-year’ deal under which WynnBET will become the latest Authorized Gaming Operator of the body overseeing most North American stock car race events. NASCAR’s chief digital officer Tim Clark said he was “excited to partner with such a deeply experienced and innovative team.”

As far as land-based casino gambling is concerned, okay, but Wynn seriously lags its US rivals in terms of digital sports betting, casino and poker experience. That wasn’t always the case, as Wynn launched an ‘interactive’ division that applied for a New Jersey online gambling license in 2014 only to withdraw the application the following year without explanation.

In 2018, following the demise of the US federal sports betting ban, Wynn inked a betting partnership with UK-licensed BetBull, then struck another betting/iGaming deal with Scientific Games Corp in 2019.