Industry News for the Week of June 29, 2025
Industry News
- Legal Sports Report: Truist Bullish On Tech As Sports Betting Playing Field Shifts
Wall Street is placing a bet on US sports betting technology. On Monday, Barry Jonas of Truist Securities initiated coverage of Genius Sports and Sportradar with buy ratings, describing the pair as the clear leaders in a “two-horse race” to supply sportsbooks, media companies, and leagues with the data and technology underpinning the US sports betting boom.
Michigan
The Michigan Gaming Control Board announced Wednesday that it issued 19 cease-and-desist letters to illegal gambling operators. It’s the largest enforcement action the MGCB has taken to date. The board has been aggressive in chasing illegal gambling businesses out of Michigan, said MGCB Executive Director Henry Williams. The goal is to ensure players use operators with the right protections in place.
Missouri
- Legal Sports Report: Missouri Sports Betting Public Comment Period Open
The process to launch Missouri sports betting is in the midst of its next major step. The Missouri Gaming Commission published its rules for MO sports betting last month. Now, interested parties must submit comments by July 16. The commission will hold a public hearing on July 17. The MGC confirmed the first two applicants last month. DraftKings and Underdog quickly turned in their applications.
New Jersey
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Legal Sports Report: NJ Online Casino, Sports Betting Tax Rate Increases Pass Both Chambers
The new tax rate for online casino, sports betting, and daily fantasy sports has passed the New Jersey legislature. Both chambers passed the bill Monday afternoon. The Assembly approved the bill by a 45-33 vote, followed by a 25-14 vote in the Senate. The new rate of 19.75% in A 5803 was negotiated down from 25% in Murphy’s initial proposal.
Pennsylvania
- Play Pennsylvania: PA Lawmaker Takes Another Shot at Legalizing Esports Betting
Pennsylvania state Rep. Ed Neilson introduced legislation earlier this week to legalize esports betting. The bill would add esports to the list of “sports events” that bettors in the Keystone State could wager on. Currently, Pennsylvania sports betting is limited to professional sports, college sports, and motor racing. Neilson attempted to legalize esports betting in 2023, but the bill stalled shortly after introduction.