New York State’s Responsible Play Partnership (RPP) has announced additional collaborative measures to help prevent problem gambling in the US state.
The RPP is a shared initiative between the New York State Gaming Commission, the New York State Office of Addiction Services and Supports (OASAS) and the New York Council on Problem Gambling (NYCPG) to help address problem gambling, as well as ensure all gaming entities are compliant with rules and regulations and offer help to individuals who need it.
Further measures being implemented by the RPP include “providing prompt support to gamblers who find themselves in crisis, ensuring that gaming industry workers are properly trained to identify and interact with potential problem gamblers and collecting specific data from mobile sports wagering operators to better research its impact on New Yorkers”.
Discussions for the additional measures took place at the del Lago Resort & Casino in Waterloo earlier this week, bringing further support and services to the Finger Lakes and Central New York regions.
“The RPP was formed to bridge the gaps between all stakeholders to address problem gambling,” commented Robert Williams, Executive Director of the New York State Gaming Commission.
“These latest spans bring timely help to those who need it, ensure that industry employees know how to address the issue, and ensure that we are obtaining meaningful data to properly scope mobile sports wagering’s reach.”
From 12 November, New York’s voluntary self-exclusion service will include an option for individuals to opt-in to being contacted in a timely manner by a trained gambling harms staff from the OASAS HOPEline.
In addition, the NYCPG has updated its problem gambling training for gaming employees in the state. This training will help them spot the signs and symptoms of problem gambling behaviour, know how to interact with individuals who may be struggling, as well as provide employees with an overview of applicable statutes and regulations and OASAS research findings.
“New York State has instituted protections to guard against problem gambling, as well as help individuals affected find the help they need,” said Dr. Chinazo Cunningham, Commissioner for OASAS.
“We will continue to work with our colleagues in the Responsible Play Partnership to expand and enhance these supports, improve training on how to promote responsible gambling, and ensure that all New Yorkers can access help and support.”
The Gaming Commission has also proposed regulations requiring sports betting operators to report specific data to the Commission every year after spotting inconsistencies in previously reported data.
“The Commission and OASAS are required to report annually on ‘the impact of mobile sports wagering on problem gamblers in New York, including, to the extent practicable, an analysis of demographics which are disproportionately impacted by the problem gambling”, the Commission’s statement read.
“The Commission and OASAS found in the 2022 and 2023 reports that several mobile sports wagering operators have not consistently maintained such information in a manner to appropriately gauge which populations are participating in mobile sports wagering and how they wager.”
The proposed regulations state that the specific reported data includes:
Each account’s sports betting skin must also provide to the Commission:
Lance Young, General Manager and EVP of del Lago Resort & Casino, added: “del Lago staff is dedicated to delivering world-class hospitality, and ensuring our guests have access to responsible gaming resources is a pillar of that.
“Across our entertainment facilities, our team strives to provide the level of personal service that allows them to recognise the signs of problem behaviour and connect guests with the resources that can help. We thank our state and local partners for their work with us to promote responsible play and provide support for those who need it.”
Gaming Innovation Group Software has reported more than €7m in revenue for the third quarter of 2024, but an adjusted EBITDA loss of over €1m.
Both of these figures are down compared to the same period last year, with GiG also reporting an operating loss (EBIT) of just under €10m for the quarter.
Despite the results, CEO Richard Carter has voiced optimism for the igaming technology company’s future, expressing Q3 as a “momentous quarter” and that the firm is now “in a better position to expand” its presence in global igaming and sports betting markets.
Publishing its first set of financials since its business split away from Gentoo Media last month, GiG declared revenue of €7.4m, down 21% year-over-year (Q3 2023: €9.3m).
Providing further context on the comparison, the company stated that “2023 results contain €7.8m one-off revenue related to GiG Enterprise Solution sale (2024: €1.3m)”.
Excluding client exits and enterprise revenue, Q3’s underlying revenue stood at €7.3m, up 26% YoY (2023: €5.8m).
During the quarter, GiG also achieved listing on the Nasdaq First North Premier Growth Market in Stockholm, Sweden, under the ticker GIG SDB.
The company noted that the new listing will “enable management to reinvigorate GiG’s sales and marketing activities to help expand the group’s global client reach”.
Carter commented: “Q3 has been a momentous quarter for GiG, both in terms of underlying activity for the business and for our investor base by being able to realise our value on the First North stock exchange as a standalone Group.
“The quarter saw considerable activity across all areas of the business, including product development with the launch of our new sweepstakes product, SweepX, pipeline generation, customer signings and new brand and customer launches.”
GiG’s adjusted EBITDA in Q3 was a loss of €1.1m (2023: €3.1m profit) with a margin of minus 14.8% (2023: 32.9%).
The company’s EBIT came in at a loss of €9.7m (2023: €9.4m profit), with GiG adding that the figure excludes a “one-off extraordinary item of €50.8m relating to intangible asset write-downs”. 2023’s EBIT contained a “€10.4m reversal of contingent consideration for 2022 SportnCo acquisition”.
As of 30 September 2024, cash and cash equivalents stood at a balance of €10m.
GiG has also published its guidance for 2025, stating that it projects full-year revenue to be at least €44m, a 38% YoY growth. The company noted that at least 80% of its 2025 revenue is contracted, a figure which will rise to at least 90% by the end of the year.
As for EBITDA, GiG expects its figure to be at least €10m, implied EBITDA margin to be at 23% (negative EBITDA margins projected for 2024) and for cash flow to break even by Q3 2025.
“Looking ahead to Q4 and beyond, I am confident that GiG has never been in a better position to expand its presence across the global B2B igaming and sports betting markets,” added Carter.
“Underpinned by strong existing partnerships, alongside our cutting-edge proprietary technology that we have refined over a number of years, I am optimistic of an extremely bright and growth-filled future.”
