Connect with us

Published

on

Many Anheuser-Busch distributors say they are resigned to their painful Bud Light losses — and that they have given up on luring back disaffected customers following the Dylan Mulvaney fiasco, The Post has learned.

After four months of hiring freezes and layoffs — with some beer truck drivers getting heckled and harassed even as Bud Light sales have dropped by more than 25% — Anheuser-Busch wholesalers have accepted that they have lost a chunk of their customers for good — and need to focus on a new crop of drinkers.

Consumers have made a choice,” said an executive at a Texas-based beer distributor who did not want to be identified. “They have left [Bud Light] and thats how its going to be. I dont envision a big percentage of them coming back.

Sales of other Anheuser-Busch beers including Budweiser, Michelob Ultra and Busch Light also have been in decline since Bud Lights marketing tie-up with transgender influencer Mulvaney.

Whats more, those lost customers have likely found that Bud Lights competitors, including Coors Light and Miller Lite, are a very similar product.

Winning the beer wars comes down to whoever is best at marketing, the executive said.

“There is an increasing feeling that this [Bud Light] decline rate could last for a while and the distributors are worried about losing those drinkers to other similar brands,” David Steinmann, executive editor of Beer Marketers Insights, told The Post.

A pair of social media posts by Mulvaney on April 1 — holding a 16-ounce can of Bud Light with her image on it and another of her sitting in a bubble bath surrounded by Bud Light cans — sparked a backlash that has lasted longer than most anticipated.

The strategy of targeting younger, newer consumers is the right one, Michael Stone, chairman of Beanstalk Group, a New York-based branding firm, told The Post. But Anheuser-Busch made a mistake executing on the strategy.

One silver lining for beleaguered Anheuser-Busch distributors is the rise of Modelo Especial — the No. 2 beer brand, which Anheuser-Busch owns outside of the US.

Rival Constellation Brands distributes Modelo in the US, where it has been outselling Bud Light on a weekly basis since May.

Whats helping distributors is having Modelo in their portfolio, the beer executive said. But if you dont have Constellation, you are in a pickle.

While Bud Light remains the No. 1 beer brand in the US, those days are likely numbered, with Modelo expected to overtake it by the end of August, experts say.

Even before the Mulvaney disaster, beer suppliers have been fighting a broader crisis.

Beer has long been the No. 1 alcoholic drink in the world and the beverage of choice for new drinkers, but just last year, spirits surpassed beer for the first time ever in the US. 

Hard liquor accounted for 42.1% market share in 2022 compared to beers 41.9% market share, according to the Distilled Spirits Council of the United States.

The increasing popularity of ready-to-drink cocktails is fueling the trend away from beer.

In response, breweries are partnering with spirits companies that are making canned cocktails.

Those include Cutwater Spirits, which Anheuser-Busch bought in 2019. The craft distillery is now part of Anheusers Beyond Beer.

Beer distributors and suppliers want to win over so-called “legal age drinkers,” before they acquire a taste for other alcoholic beverages.

There are so many different options for coming-of-age drinkers today, the beer executive said.

Continue Reading

Politics

Crypto casino revenue hit $81B in 2024 despite global restrictions

Published

on

By

Crypto casino revenue hit B in 2024 despite global restrictions

Crypto casino revenue hit B in 2024 despite global restrictions

Crypto casinos generated more than $81 billion in revenue in 2024, even as regulators in key jurisdictions continued to block access to the platforms, according to a new report.

Citing data from the anti-online-crime platform Yield Sec, the Financial Times reported that wagers paid in crypto in 2024 generated $81.4 billion in gross gaming revenue (GGR). This metric refers to the difference between bets taken and winnings paid out.  

Yield Sec data also showed that the annual revenue for crypto casinos has increased five times since 2022, despite gambling sites being blocked in the United States, China, the United Kingdom and the European Union. 

Crypto casino Stake rivals traditional betting platforms

Betting platform Stake reported that its GGR in 2024 was around $4.7 billion, up 80% since 2022. This puts it on a par with some of the biggest gambling groups, such as Entain and Flutter. Entain reported $5 billion, while Flutter reported $14 billion in revenue in 2024. 

Stake offers traditional casino games, including blackjack, roulette and slots. The platform also allows users to bet on sports. Users on the betting platform generally transact in crypto, with account balances being deposited and withdrawn directly into crypto wallets. 

In 2023, the crypto betting platform was hacked, with $41 million withdrawn from its wallets. On Sept. 4, 2023, security firms flagged suspicious outflows from the platform. The company then confirmed the hack through social media, saying there were unauthorized transactions from its Ethereum and BNB Chain hot wallets. 

On Sept. 7, 2023, the US Federal Bureau of Investigation said the $41 million hack was executed by the notorious North Korean hacking group Lazarus. 

Related: XRP ETF ‘obvious’ as Polymarket bettors up approval odds to 85%

Gamblers access illegal sites through VPNs

Even though crypto gambling sites are officially blocked in many jurisdictions, users can access them by bypassing geo-blocking restrictions with VPNs, which allows users to place bets on sites blocked in their country. 

Former players and crypto users told the FT that many online guides show people how to bypass geo-blocking restrictions to access a crypto gambling platform. Cointelegraph confirmed that some influencers offer online tutorials that teach people how to access blocked gambling sites. 

“Ready-to-gamble” crypto casino accounts are also reportedly being sold on social media platforms, according to Sanya Burgess, journalist at The i Paper.

Cryptocurrencies, Casino, Betting, Gambling, United States, United Kingdom, Online Casino, Companies, Policy
Source: Sanya Burgess

Users sell accounts that have already passed through betting sites’ registration processes. On Jan. 31, Sky News reported that some users sell pre-verified crypto casino accounts for as little as $10. These ready-to-gamble accounts are reportedly sold on social media sites like Facebook.

Magazine: Your AI ‘digital twin’ can take meetings and comfort your loved ones

Continue Reading

UK

Three men charged over death of woman struck by van at golf course after police chase

Published

on

By

Three men charged over death of woman struck by van at golf course after police chase

Three men have been charged with manslaughter over the death of a woman who was struck by a van at a golf course following a police pursuit.

Suzanne Cherry died in hospital four days after she was struck by the vehicle on the morning of 11 April.

Two police cars had been following a grey Nissan van in Lichfield, Birmingham, after receiving reports of suspicious activity, the Independent Office for Police Conduct (IOPC) said.

However, they stopped chasing the van when it went off-road and up an embankment at Aston Wood Golf Club, where it hit Ms Cherry, of Aldridge, Walsall.

West Midlands Police said John McDonald, 51, of Bloxwich, has been charged with manslaughter, assault by beating and failing to stop a vehicle when directed by a constable.

Johnny McDonald, 22, of Dudley, and Brett Delaney, 34, of Darlaston, Walsall, have also been charged with manslaughter.

They are due to appear at North Staffordshire Justice Centre on 21 April.

Three other men who had been arrested have been bailed with conditions.

Read more from Sky News:
Woman, 45, stabbed to death
The 10 worst airports for flight delays
Just 303 DeLoreans left on Britain’s roads

Following Ms Cherry’s death, her husband paid tribute to his “beautiful wife” and described how he watched in “helpless horror” during the incident.

“Suzanne leaves a legacy and an unfillable void in the lives of her mother Maureen, her three adult children, two step-children and countless others from her work, her sporting activities and social circle,” he added.

The IOPC continues to investigate the circumstances prior to the crash.

Continue Reading

UK

‘British man’ dies after being dragged out of police station in Ecuador – reports

Published

on

By

'British man' dies after being dragged out of police station in Ecuador - reports

A “British man” has died after being beaten and set on fire by a mob in Ecuador, according to reports by media in the South American country.

According to reports, the man – who has not been officially identified – had been detained by police after being accused of being involved in a fatal shooting.

Ecuadorian news outlet Ecuavisa reported that the man had been taken to a police station Playas del Cuyabeno, a remote village in the Amazon rainforest.

While there, a group broke into the station and took the man away. He was then set on fire in the street, it is reported, and died from his burns.

Playas del Cuyabeno
Image:
The incident reportedly happened in the Playas del Cuyabeno area of Sucumbios province

Another local report, from EXTRA.ec, said that specialist police units had been slow to arrive due to the geographical conditions of the area – which is accessible by river.

Read more from Sky News:
IDF finds ‘failings’ over attack on aid workers
Pope blesses Easter crowds from popemobile

According to reports, police officers at the station apparently decided they could not intervene when the mob arrived out of concerns for their own safety.

The UK Foreign, Commonwealth and Development Office has been approached for comment.

Continue Reading

Trending