Industry News of the Day for April 20, 2020

iDEA Growth Member News:

• Axios, 4.17.20 – DraftKings Inches Closer To Going Public
  • DraftKings is one step closer to going public, after the SEC approved its reverse merger with blank-check acquisition company Diamond Eagle and sports betting enterprise solution SBTech.
• Online Poker Report, 4.17.20 – Rivers, PokerStars Overtake FanDuel As Pennsylvania Online Gambling Blossoms (Unibet, PokerStars)
  • Online casinos and poker sites in Pennsylvania have another month of good growth behind them.
• PlayPennsylvania, 4.17.20 – DraftKings eNASCAR Provides Realistic Racing Thrills For Fans, DFS Players
  • Perhaps because of its realism, the NASCAR’s iRacing series is proving to be incredibly popular with fans. And DraftKings is providing even more fun by launching daily fantasy contests related to the races.
• CNBC, 4.19.20 – Desperate Sports Bettors Are Turning To Table Tennis And Presidential Debates As Cancellations Drag On (DraftKings)
  • Sports may no longer be blaring on television screens across the country, but that’s not deterring some gamblers from placing bets on anything that they can get odds on — table tennis, comments made during presidential debates, even video game sports competitions.

Industry News:

• Sports Handle, 4.18.20 – Get A Grip: The Week In Sports Betting: Colorado Roster, Sports Watchers, NFL Draft, More
  • Here’s the weekend Sports Handle item, “Get a Grip,” recapping the week’s top stories, highlighting some fresh news and rounding up key stories in the world (and industry) of legal U.S. sports betting.
• Gambling Compliance, 4.20.20 – Struggling Sports-Betting Operators Lined Up For Buyout Frenzy (subscription paywall)
  • Gambling consultants predict small sportsbook operators will be prime acquisition targets for larger industry groups as they continue to struggle with widespread cancellations and shop closures.
• Legal Sports Report, 4.17.20 – FanDuel Weathering Sports Shutdown Thanks To Horse Racing, Online Casino
  • FanDuel parent company Flutter reported a mere 8% year-on-year drop in US revenues for the four weeks after sports shut down March 15.
• PlayUSA, 4.17.20 – Responsible Gambling Measures Crucial During COVID-19 Shutdown
  • The shutdown of most sporting events due to COVID-19 presents problems and possibilities for the nascent legal gaming industry in the US.
• Las Vegas Review-Journal, 4.18.20 – Coronavirus Devastated Gaming Industry But May Boost eSports
  • The spread of the novel coronavirus has devastated the gaming industry, prompting the shutdown of arenas, casinos and resorts across the country.

Federal News:

• NJ Online Gambling, 4.17.20 – NJ Horsemen Lay Out Next Steps In $150M Sports Betting Lawsuit Against Leagues
  • After continuing a legal war of words earlier this month, the New Jersey Thoroughbred Horsemen’s Association backed off and will now await a U.S. Supreme Court decision on whether to hear five sports organizations’ appeal in a $150 million lawsuit.

Sports League News:

• ESPN, 4.20.20 – Sportsbooks See Big Betting Interest In NFL Draft
  • With games on hold, the NFL draft is taking center stage at sportsbooks around the nation, and betting interest is booming ahead of Thursday’s first round.
• Sports Handle, 4.17.20 – Take Me Out To The Ballpark… Or Golf Course
  • Legal digital sports betting is still available in nine states, but it has been reduced to soccer in far-flung locales, ping-pong, darts, and the like. Several states have added some eSports to their offerings. But put up a baseball game or a tennis match or a golf tournament, and sports bettors would rejoice.

New Jersey:

• New Jersey Business, 4.17.20 – NJ Sportsbooks Fall $370M Short Of Expectations
  • New Jersey’s retail and online sportsbooks took in a third of the expected handle in March, while online casinos and poker rooms boomed.

Pennsylvania:

• Penn Bets, 4.17.20 – FanDuel Finds A Lack Of Sports Means A Downward Turn For Its iCasino Also
  • FanDuel’s reliance on sports bettors to cross over and propel profits on its new Pennsylvania online casino proved a winning strategy in early 2020. When traditional sporting events were erased from the calendar for nearly two-thirds of the month, FanDuel’s iCasino suffered collateral damage.
• iGB North America, 4.17.20 – PA Gambling Revenue Halves In March Amid COVID-19 Shutdowns
  • The Pennsylvania Gaming Control Board (PGCB) saw gambling revenue in the state more than half in March due to the widespread shutdown of casinos and postponement of sports events as a result of the novel coronavirus (Covid-19) outbreak.

Delaware:

• Delaware State News, 4.18.20 – State Gambling Industry Takes Hit During Virus Outbreak
  • There’s no sure bet on how coronavirus will ultimately affect Delaware’s gambling, gaming and lottery industry.
• iGB North America, 4.20.20 – Delaware Sports Betting Revenue Down In March
  • The Delaware Lottery has reported a year-on-year fall in sports betting revenue for March, but the $571,486 generated by operators during the month was higher than the total collected in February 2020.

New Hampshire:

• Gaming Intelligence, 4.20.20 – New Hampshire Lottery Adds eNASCAR To Sports Betting Portfolio
  • In light of the ongoing suspension of most live sports, the New Hampshire Lottery has bolstered its sports betting offering with the launch of eNASCAR.

Michigan:

• PlayMichigan, 4.17.20 – What Will A Post-Pandemic World Look Like For Michigan Casinos?
  • The COVID-19 pandemic has touched nearly all parts of global life. With all 26 casinos shut down since mid-March, the Michigan gaming landscape is no different.

Illinois:

• Gambling Compliance, 4.20.20 – Illinois Casinos Eye June For Gradual Re-Opening (subscription paywall)
  • The Illinois gaming industry is working closely with state regulators on a plan which could allow some casinos to partly resume operations as early as June, according to the state’s top casino lobbyist.
• Law360, 4.16.20 – High Court Says Daily Fantasy Sports Are Games Of Skill (subscription paywall)
  • The Illinois Supreme Court ruled Thursday that daily fantasy sports don’t count as gambling because the relative skill of the participants in choosing their lineups can determine the outcome of the contest, but said nothing in the state’s illegal gambling loss recovery statue says online gambling is exempt.
• US Bets, 4.20.20 – Online Poker Now Legal In Illinois? One Judge Ruling On DFS Case Claims It Is
  • The Illinois Supreme Court’s ruling on Friday that daily fantasy sports is not gambling — which will be news to Nevada regulators, who ruled the opposite five years ago — didn’t just muddy the DFS waters even further.

Iowa:

• PlayIA, 4.17.20 – IRGC Delays Potential Approval Of eSports For Fantasy, Wagering Until Its June Meeting
  • Iowans looking to legally play League of Legends fantasy contests or bet on the outcome of LOL matches will have to wait at least a couple more months. On Thursday morning, the Iowa Racing and Gaming Commission shelved an esports approval request.

Indiana:

• Gaming Intelligence, 4.20.20 – Indiana Sports Betting Market Declines To $74.8M In March (subscription paywall)
  • Indiana’s 11 operational sportsbooks saw total wagers drop to $74.8m in March as the COVID-19 pandemic forced the temporary closures of casinos during the month.

Tennessee:

• NY Daily News, 4.19.20 – Tennessee Sports Betting Could Be Live In July: Rules Mandate 10% Hold Percentage For First Time Ever
  • Tennessee expects to go live with legal online sports betting as early as July 2020, sources tell The Action Network.

Colorado:

• Yogonet, 4.20.20 – Colorado Regulators Grant More Sports Betting Licenses, Set For May 1 Launch
  • SuperBook’s partnership with The Lodge Casino in Black Hawk was green-lighted, and the Wildwood Casino became the final Cripple Creek gambling hall Thursday to receive a sports wagering license from the Colorado Limited Gaming Control Commission.

Nevada:

• The Washington Post, 4.17.20 – Sportsbooks Struggling, Vegas Embraces eSports Betting Despite Match-Fixing Concerns
  • Before covid-19, casinos in Las Vegas would have laughed at the prospect of an esports-centric betting operation. But now, searching for alternative events amid the sports-less coronavirus pandemic, Las Vegas has warmed to the idea.

Oregon:

• Gambling.Com, 4.17.20 – March Sports Betting Handle In Oregon Dips As Issues Remain
  • The Oregon Lottery’s sports betting app, Scoreboard, had just over $9 million in March sports betting handle resulting in $937,750 in gross revenue, according to the monthly report released Friday by the lottery.