Industry News of the Day for April 22, 2019

Industry News of the Day for April 22, 2019

Industry News:

Pennsylvania:

  • Pittsburgh Post-Gazette, 4.19.19 – Internet Play Is Helping Put The Pennsylvania Lottery On A Record Pace
    • The Pennsylvania Lottery’s use of the internet to expand its sales could be a positive sign for the casinos looking to expand games and revenue through their websites and apps in coming months.
  • PA Online Casino, 4.20.19 – Online Sports Betting By May, Online Casinos July 15
    • The most concrete of the two dates is online casino launch. Rather than have sites go as they are ready, there will be one launch date. All casinos ready to go live on July 15 can. That gives the 10 PA casinos with interactive gaming licenses with roughly three months to prepare.
  • Play Pennsylvania, 4.20.19 – No One Is Mad About PA Sportsbooks’ Record-Setting March Return
    • After a brutal February, Pennsylvania sportsbooks bounced back in a big way in March. Thanks to the influx of March Madness sports betting, the eight books took in a combined $44.5 million in bets. Unlike Super Bowl betting, which caused big losses across the industry, casinos profited from the basketball betting.
  • Pennsylvania Casino News, 4.20.19 – Casinos Post Record Gaming Revenues In March
    • The Keystone State’s 12 licensed casino operators have recently set a brand-new all-time high record for gambling winnings in a single month. According to the revenue figures that were released by the Pennsylvania Gaming Control Board last Monday, the casinos managed to rake in whopping $309.1 million from slot machines and table games – the amount represent a modest but still very significant 2.86 percent year-over-year increase.
  • Meadville Tribune, 4.21.19 – March Madness Fuels State’s Biggest Month Of Sports Betting
    • Fueled by March Madness betting, Pennsylvania’s sports wagering revenue jumped more than 40 percent in March.

New Hampshire:

West Virginia:

Indiana:

Utah:

  • The Salt Lake Tribune, 4.21.19 – Commentary: Legal Gambling Would Be Better Than Utah’s Tax ‘Modernization’
    • Utah’s governing and business elites are doing their best to convince Utahns that the state’s tax system must be modernized. However, their solutions are to do more of the same rather than doing something really innovative, such as implementing a lottery and online sports betting.

Massachusetts:

Colorado:

  • The Denver Post, 4.18.19 – Colorado Lawmakers Introduce Bill To Legalize Sports Betting
    • Two lawmakers introduced a bill Thursday that would ask voters in November whether they want to legalize sports betting throughout the state and tax the new industry’s net proceeds at a rate of 10 percent starting in May 2020.
  • CBS 4 Denver, 4.18.19 – State Lawmakers Debate Whether To Allow Sports Betting
    • State lawmakers are debating whether to allow sports betting in Colorado. The Supreme Court recently lifted a ban on sports betting, which clears the way for individual states to legalize it.
  • Colorado Public Radio, 4.18.19 – Sports Gambling Bill Finally Lands In Colorado
    • After months of negotiations, a bipartisan deal on sports gambling was introduced in the Colorado House on Thursday afternoon.

Iowa:

Ohio:

New Jersey:

  • US Gambling Sites, 4.20.19 – Sports Betting Boosts New Jersey Gaming Market
    • Sports betting has been on offer in the state of New Jersey since June of 2018. Over the past few months, the new industry has provided over $150 million in revenues to the Garden State.
  • NJ Online Gambling, 4.18.19 – Online Poker Fails To Ride Coattails Of New Jersey’s Gambling Resurgence
    • New Jersey’s gaming industry is booming, but the gains are not being felt for online poker. According to a gaming revenue report released last week by Garden State regulators, the online poker market contracted 3.2% year-over-year in March to $1.9 mm.

Oregon:

  • The Oregonian, 4.21.19 – Oregon Lottery’s Game Changer: Big-League Sports Betting
    • That day could be fast approaching as Oregon Lottery officials intend to launch sports wagering in time for football season. The lottery hopes to put the state at the forefront of a national sports betting bonanza after a U.S. Supreme Court decision last May cleared the way for every state to get into the business.

Federal News:

Sports League News:

iDEA Growth Member News:

Overall Industry News:

  • Wall Street Journal, 4.19.19 – Gambling Will Take Over TV Sports
    • Folks in the cable TV business aren’t taking any chances. When the Supreme Court last year struck down a federal law banning sports betting, they knew it was good news for the beleaguered cable bundle, the glue of which is live sports.
  • CNBC, 4.20.19 – The Casino Industry Exemplifies Decades Of Radical Transformations In Corporate America
    • As the Massachusetts gaming commission began hearings last week to decide if the Wynn Co will retain its license to operate the first major urban casino on the East Coast, I thought back to my original introduction to the casino industry in 1983.