Industry News of the Day for April 18, 2023
iDEA Growth Member News
- SBC Americas: 888 Makes “Clear” US Plans With Older Customers In Sight Via Sports Illustrated Rollout
- 888 Chair Lord Jonathan Mendelsohn has outlined that the global betting and gaming group has a ‘pretty clear’ strategy when it comes to the future of its US operations, as it targets older bettors with “longer lifetime value.” Addressing investors last week as part of 888’s 2022 and Q1’23 trading update, …, Mendelsohn noted that the group has a strong niche position in the US market after several key market entries last year.
- CBS17: Catena Media Signs Nationwide US Media Partnership With Lee Enterprises
- Catena Media today announces a long-term partnership to provide online sports betting and casino content to Lee Enterprises Inc, one of the largest newspaper publishers in the US. The collaboration involves Catena Media becoming the exclusive partner for online sports betting and casino gaming content for all of Lee’s brands, serving 77 markets in 26 US states.
Industry News
- SBC Americas: Report: PointsBet Explores Potential US Business Sale As Bank Hired
- According to reports in Australia, PointsBet is considering offloading the US arm of its business and has hired New York-based Moelis & Company to provide guidance through the process. As first reported by Australian Financial Review, PointsBet executives have hired the investment bank to explore all options, including a full sale of the US sports betting business as rumors continue to swirl about the long-term future of the company.
- Legal Sports Report: Analysis: US Sports Betting Hold Rising As Operators Seek Path To Profitability
- Approaching its fifth anniversary, the regulated US sports betting market beyond Nevada is starting to show some real signs of maturity. Legal sports betting is now available to more than half of the country’s adults across 33 states plus the District of Columbia, and a few more launches are on deck this year. Close to 100 individual brands have come together to create this industry from relative scratch, working within a complicated patchwork of state and federal laws and regulations.
Florida
- PlayFL: How Florida Geopolitical Divide Boosts Seminole Tribe’s Casino Monopoly
- Florida is home to six Las Vegas-style casinos and one Class II property. All are owned by the state’s two federally recognized tribes. But the Seminole Tribe of Florida owns all six Class III facilities. According to one legal expert, the Seminoles’ Class III monopoly will remain for the foreseeable future.
Massachusetts
- The Boston Globe: Massachusetts Governor, Once A Gambling Opponent, Says She Backs Allowing The State Lottery To Move Online
- Governor Maura Healey, once a staunch opponent of expanding gambling, said Friday that she supports allowing the state Lottery to sell its products online in an attempt to “meet people where they are.” Healey’s embrace of a measure that has long idled on Beacon Hill aligns her with the Massachusetts House, where Democratic leaders again proposed expanding the Lottery online this week and using hundreds of millions of dollars it could generate to help underwrite its state budget plan.
Michigan
- PlayMichigan: Eight Michigan Tribal Casinos Saw Yearly Gaming Payment Decline In 2022
- Eight different Michigan tribal casinos saw a decrease in reported gaming payments in 2022. According to the 2022 Tribal Gaming Report released by the Michigan Gaming Control Board, Michigan’s 23 tribal casinos had a 2.2% collective decrease in its reported payments to local entities from 2021. Each year, the MGCB releases information on the payments tribes make to local units of state government based on slot revenue from their Class III machines.
Ontario
- Legal Sports Report: Ontario Sports Betting Rule Change Would Keep Celebrities, Athletes Out Of Ads
- The already strict advertising climate of Ontario sports betting could tighten more. The Alcohol and Gaming Commission of Ontario proposed a change to its advertising standards, which would potentially ban the use of celebrities and athletes in advertising. The proposal was announced last week and the AGCO will accept comments until May 8.