Industry News of the Day for April 29, 2024
Industry News
- SBC Americas: Corporate Social Responsibility Report Released By PENN
- PENN Entertainment has released its 2023 Corporate Social Responsibility Report. The entertainment and gaming giant has provided insights into its Environmental, Social, and Governance (ESG) efforts from last year. In 2023, PENN donated more than $8 million to support local charities and generated over $17 million in economic development grants. Its workforce spent over 9,500 hours volunteering to help underserved communities.
New Jersey
- PlayUSA: Potential Tax Hike For NJ Online Casinos Has Ramifications Beyond Gaming
- A bill in the New Jersey Senate would double the tax rate casino licensees pay on their online casino win. As you would imagine, the proposal is not too popular with the companies that hold those licenses. At the same time, the beneficiaries of such tax revenue in New Jersey could make great use of the extra funds. Even though the funding comes from people playing games, their situation is anything but a game.
Iowa
- Legal Sports Report: Tainted Iowa Sports Betting Probe Leads Student-Athletes To File Federal Suit
- Twenty-six student-athletes involved in the Iowa sports betting probe filed a federal lawsuit on Friday. The defendants in the suit include the state of Iowa, the Iowa Department of Public Safety (DPS), the Iowa Division of Criminal Investigation (DCI) and five people involved in the Iowa sports betting probe. The case against four Iowa State University student-athletes was dismissed in March. The case turned because of an “illegal search and seizure,” which included a “warrantless search.”
Michigan
- PlayMichigan: Assessing Fanatics’ First Month Operating In Michigan
- Fanatics has been in Michigan for a full month, which makes it much easier to evaluate the new operator’s early results. And the operator, which launched in late-February, placed well in both online casino and sports betting sectors in Michigan in March. Any new operator has an uphill battle to climb, with the likes of FanDuel, DraftKings and BetMGM leading the market in both verticals. However, with Michigan’s strong online gambling industry, there should be enough room for Fanatics to succeed.
New York
- PlayNY: NY State Budget Omits ‘No Brainer’ Increase In Responsible Gambling Funding
- New York lawmakers adopted an annual budget without including two sports betting measures, one of which dedicated additional tax money toward problem gambling services. A second gambling-related item would have permitted proposition bets on NY sports betting award futures. That was also excluded from the 2024-25 state budget approved last weekend.
Minnesota
- iGB: Arrest Of Senator In Minnesota Could Upend Sports Betting Bill, Other Business
- In what could be a blow to the Minnesota sports betting bill, Senator Mitchell was arrested for a burglary that she said is a family situation blown out of proportion. She said in a statement that “I am confident that a different picture will emerge when all the facts are know.” However the criminal situation plays out, Mitchell’s arrest has left the Minnesota senate in a quandary. It now has 33 Democrats and 33 Republicans. The Democrats, who hold the majority, will now need Republican votes to pass legislation. That could upend sports betting, historical horse racing and many other issues.