Industry News for the Week of December 29, 2024

By iDEA | January 2, 2025

Industry News 

The online gambling industry has closed the books on another record-breaking year of regulated operations in the US. In the preliminary 2024 totals across 33 regulated markets, sportsbooks generated nearly $150 billion in handle and more than $14.2 billion in operator revenue. Tax payments to state and local governments came to $2.90 billion, while the federal taxes came in at an additional $375+ million. Over 95% of all legal sports betting in 2024 was conducted online.

Illinois

Bally’s Corp. recently announced that certain members of the public can purchase shares in its future permanent Chicago casino. Under the terms of the agreement, qualification for investors will focus on ethnic/racial minorities and women. According to a May 2022 recommendation report from former Chicago mayor Lori Lightfoot, the commitment from Bally’s to prioritize minority ownership of the casino was a deciding factor in her recommending Bally’s to build and operate Chicago’s first casino.

Michigan

The last year has been noteworthy for Michigan regarding gambling news. Few states provide all the gambling options, both in retail and online, that Michigan does. Following a new monthly revenue record of just under $226 million in November, the state sits at just under $2.20 billion for 2024 through 11 months. That’s already well past the 2023 total of $1.92 billion through all 12 months. Helped in large part by the success of the Detroit Lions this season, Michigan sportsbooks set a record with $650.2 million in online sports betting handle.

North Carolina

A panel of judges from the North Carolina Court of Appeals gave a split-decision victory to law enforcement agents in Robeson County who upheld bans on unlicensed electronic gaming machines. The small and unregulated presence of the games in North Carolina could limit their potential impact on the future legalization of online casino play. On Dec. 31, 2024, a three-member panel issued a majority opinion that No Limit Games’ terminals represent unlicensed gambling because “their prize is determined by chance.” As a result, law enforcement in the county is free to take action against No Limit Games and other companies engaged in similar activities.

Pennsylvania:

The Pennsylvania Gaming Control Board (PGCB) is progressing toward joining the Multi-State Internet Gaming Agreement (MSIGA), officially accepting an invitation to join the compact. Pennsylvania had the top poker market in the US before New Jersey and Michigan joined MSIGA, and because of that, the Keystone State has taken a backseat to those markets. Should everything go as planned, Pennsylvania aims to join the compact in April, the first month of the second quarter.

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