Industry News of the Day for May 6, 2024

By iDEA | May 6, 2024

Industry News

  • Gaming Today: Survey: 67% Of Sports Bettors Would Use Sportsbook Apps For Live Streaming
    • YouGov recently released new data about sports betting based on a survey of more than 2,000 US bettors and prospective bettors. While the data showcases some interesting findings about individual sportsbooks (bet365 is trending up with young bettors, for example), one major focus area could fundamentally change the industry: live streaming. The research and findings highlighted how live-streaming sports and events within a sportsbook app could drive user acquisition and retention and increase betting activity. Let’s take a closer look.
  • PlayUSA: Bally’s Q1 2024 Earnings Highlight North America Interactive Revenue Up 70%
    • Bally’s Corporation (NYSE: BALY) reported financial results for the first quarter (Q1 2024), ending March 31, 2024. Overall, the first quarter of the year proved successful for Bally’s. The company’s CEO, Robeson Reeves, said that Q1 2024 results show a “strong” start to the year, with progress across two of the company’s three main divisions.
  • iGB: DraftKings Raises Full -Year Guidance After “Outstanding” Q1
    • DraftKings CEO and co-founder Jason Robins has paid tribute to the operator’s “outstanding” performance in Q1 after reporting a 52.7% year-on-year increase in revenue to $1.18bn (£936.2m/€1.09bn). Revenue for the three months to 31 March was $405m above the $769.7m posted by DraftKings in Q1 of 2023. Such is the confidence of the business that it is increasing full-year guidance for both revenue and adjusted EBITDA.

Iowa

  • Bonus: Emails Show Iowa College Gambling Sting Doubled As Law Enforcement Power Play
    • An investigator involved in a 2023 Iowa gambling sting that netted over two dozen college athletes suggested in an email to colleagues the bust would impress the “powers that be.” Further, special agent Christopher Adkins speculated the investigation might nudge state lawmakers to update gambling legislation to strengthen law enforcement’s powers.

Michigan

  • PlayMichigan: BetRivers Delivers Its Highest Online Casino “Growth Rates” In Frist Quarter
    • In its first quarter investor call late Wednesday, Rush Street Interactive (RSI), which owns the BetRivers brand, singled out the performance in three of its top online casino markets: Michigan, Pennsylvania and New Jersey. In the Great Lakes State, BetRivers Casino Michigan produced the best quarter ever in terms of revenue. BetRivers said it has been able to grow its user account during that time period. Despite trailing the usual market leaders of FanDuel, BetMGM and DraftKings, BetRivers has solidified itself as the fourth-best operator in Michigan.

Virginia

  • PlayVirginia: Virginia Sports Betting A Slam Dunk In March
    • March Madness sparked sports betting in Virginia, as the $635.5 million wagered in March was the third-highest monthly total in the commonwealth’s history. It was bested only by January’s all-time record of $652.9 million and November’s impressive $638.8 million. March was also the seventh straight month that Virginia sports betting handle has finished north of $500 million.
Posted in Daily Clips