Industry News of the Day for April 18, 2024
Industry News
- Legal Sports Report: Key Sports Betting Stories To Watch During Q1 Earnings Reports
- Earnings season is right around the corner with online sports betting companies hoping for a good first-quarter report to set the tone for what should be a profitable full year for many. The earnings calendar is a bit slow through next week, with Kambi‘s call on Wednesday morning the only must-listen. The calendar picks up significantly the week after with four key sports betting operator calls from Caesars, MGM, Penn Entertainment and DraftKings.
- Gaming Today: NBA’s Response To Porter Gambling Scandal Was Perfect, Says PR Expert
- Former Toronto Raptors center Jontay Porter has been banned from the NBA for gambling violations. While that story is certainly not what the league wished for as the playoffs begin, the NBA handled the crisis brilliantly. That is according to analysis from Ed Moed, the Chief Executive Officer of Hot Paper Lantern, a marketing communications agency based in New York. Allegations against Porter emerged on March 25 when ESPN broke the story that the player was at the center of suspicious activity involving his playing time and gambling. The Raptors cut ties with Porter immediately, and the league began an investigation and issued a permanent in less than four weeks.
Pennsylvania
- PlayPennsylvania: PA Sets Another US Online Casino Record, Hits $233.1 Million In March
- Pennsylvania online casino operators broke a revenue record for the second straight month in March. The Pennsylvania Gaming Control Board (PGCB) reported that operators produced a US-best $233.1 million in online casino earnings last month. It’s the third time in four months operators generated more than $200 million. PA online casino revenue recorded a 28.4% year-over-year increase and an 8.3% month-over-over increase.
Illinois
- Bonus: Illinois Internet Gaming Act Bills Keep Seeing Movement But No Action
- Without hearings, it’s easy to forget the Illinois Internet Gaming Act (IGA) bills exist in the House and Senate. However, the Illinois General Assembly recently saw movement on both bills. The body is scheduled to adjourn on May 24. On April 5, HB2239 made its third trip to the House Rules Committee in two years. No hearings are scheduled there. On April 12, SB1656 received a third reading deadline from the Senate. Meanwhile, that Internet Gaming Act remains in the Senate Subcommittee on Gaming, Wagering, and Racing — where there are also no slated hearing dates.
Maine
- PlayUSA: Late Efforts To Pass Maine Online Casino Bill Fall Short
- Maine’s LD1777 for the state legislature’s 2024 regular session has failed, and with it, any foreseeable hope of expanding the map in the United States for regulated online casino play in 2024 is put to bed. The question now becomes how long that slumber will last not only in Maine but the broader nation.
Missouri
- SBC Americas: Sports Betting Petition In Missouri Surpasses 300,000 Signatures
- A campaign to bring sports betting to Missouri is garnering an abundance of support. Winning for Missouri Education has secured approximately 325,000 petition signatures in support of authorizing sports betting in the Show-Me State via ballot initiative. According to Emerson College and Saint Louis University polls, over 60% of Missourians support legalizing sports betting in the state. The industry, which creates an additional stream of revenue, has gained bipartisan support throughout the state.