iBET ETF Insights: After the recent announcement that Wynn Macau’s gaming license will be reinstated, the operator has announced new plans for their casino. The official announcement shows that Wynn Macau will put forward MOP 4.8 billion (US $596.4 billion) into Wynn Resorts Macau (WRM) as well as implementing some new changes. A quote from the board of directors states they, “will conduct a capital restructuring, so that WRM’s registered capital can be increased from MOP 200.1 million to MOP 5 billion.” The plan involves a voting right increase for their Vice Chairman, COO, and Executive Director Linda Chen from 10% to 15% for Class B and Class C shares as well as 10% voting rights Class A shares. Chen has also been noted as the new official President of Wynn Macau, going into effect March 1, 2023.

iBET ETF Insights: A new report has come out from New Jersey about sports betting and online gaming and the numbers are up. The numbers provided by the New Jersey Division of Gaming Enforcement (DGE) show that the state has yet again pulled over $1 billion for their betting handle, totaling $1.06 billion. Sportsbooks in New Jersey posted revenue of $77.9 million which is down 7.4% year over year but the a record was broken elsewhere. Online casino revenue posted an all-time monthly record of $147.2 million, a 15.9% increase year over year and topping their previous high of $140.6 million from back in March 2022. Since launch in 2013 this is only the second time New Jersey has passed the $140 million mark, but their market continues to grow.

iBET ETF Insights: The iGaming company, Raketech, has just unveiled their revenue numbers for Q3 and the company is posting some solid growth. The report from Raketech shows revenue at €12.9 million which translates to $12.8 million, a 35% increase from its prior Q3. Raketech also made good strides with adjusted EBITDA jumping up 17% year over year to €4.8 million as well as operating profits which posted a 22% increase from €2.3 million to €2.9 million. The CEO of Raketech commented on the report stating, “As expected, activity picked up during the third quarter, driven by seasonality and a continuous positive momentum within our core affiliation segment as well as additional growth from our new business segment, AffiliationCloud.”

iBET ETF Insights: Flutter Entertainment has just unveiled their Q3 revenue report showing a 31% increase from Q3 2021. The company reported revenue of £1.89 billion which translates to $2.18 billion. Flutter attributes most of its success to a quickly expanding U.S. market that grew 82% to £598 million as well as their acquisition of Sisal. Of the revenue reported, £1.14 billion was from sports revenue and gaming revenue followed with £748 million. A quote from the Flutter’s Chief Executive states, “We are really pleased with our performance in our US division since the start of the NFL in September where we are now averaging over 1m players on a regular NFL Sunday. In addition, we are seeing an increase in customer retention rates as our parlay products continue to grow in popularity, boosted by the start of the NBA season.”

iBET ETF Insights: The gambling product and service company, Light & Wonder, have just revealed their Q3 report showing growth of 20% from 2021. The company reported revenue of $648 million for Q3 with the help of SciPlay which hit a new quarterly record. EBITDA also grew 16% from 2021 to $235 million as Light & Wonder continues their expansion into the gaming sector. A quote from the companies CEO Matt Wilson states, “With the sale of the Sports Betting business, we have rapidly delivered on our promise to transform our business and streamline our organization… We have a unique collection of assets that are powered by games, technology, and our amazing teams. Our strengthened balance sheet pits us in a great position to build on our momentum and capture the incredible opportunities in front of us.”