Industry News of the Day for April 23, 2019

Industry News:

• Axios, 4.22.19 – States See Disappointing Tax Revenue From Legal Sports Betting
  • Six states have legalized sports betting since the Supreme Court’s monumental decision last May, but New Jersey is the only one exceeding revenue expectations.

Iowa:

• Des Moines WHO, 4.23.19 – Legal Sports Betting In Iowa Just One Governor’s Signature Away
  • The future of sports betting in Iowa is now in the hands of Governor Kim Reynolds. The Iowa State House has passed a bill that was already approved in the State Senate, that will expand gambling in Iowa to include college and pro sports betting, as well as fantasy sports betting.
• Des Moines Register, 4.22.19 – Iowa Lawmakers Approve Sports Betting And Fantasy Sports Sites; Bill Heads To Reynolds
  • Iowans, get ready to start placing bets on your favorite college and professional sports teams. Iowa lawmakers on Monday finalized legislation that would legalize sports wagering and placing bets on fantasy sports websites and apps like DraftKings and FanDuel.
• Legal Sports Report, 4.22.19 – Iowa Sports Betting Bill Off To Governor’s Desk After House Passage
  • The Iowa legislature has authorized the state’s casinos and racetracks to build sportsbooks, and it doesn’t take a giant leap of faith to know that people will come, Ray. People will most definitely come.

Indiana:

• Indianapolis Business Journal, 4.22.19 – Latest Version Of Gambling Bill Brings Back Mobile Sports Betting
  • Hoosiers could legally place sports bets on their smartphones and horse-track casinos could offer live-dealer table games prior to 2021 under the latest version of a massive gambling bill being considered by state lawmakers.
• AP, 4.22.19 – Deal Would Allow Indiana Sports Betting By Mobile Devices
  • Sports betting will be allowed by using mobile devices in Indiana under an expected agreement in the state Legislature on a wide-ranging gambling bill that would also allow construction of new casinos in Terre Haute and Gary.
• Legal Sports Report, 4.22.19 – Mobile Sports Betting Apps Return From Dead In Indiana Bill
  • An Indiana conference committee is reinserting provisions for sports betting apps into the gambling bill approaching the finish line.

West Virginia:

• Play WV, 4.22.19 – Delaware North Sues Over WV Sports Betting Fiasco Claiming Fraud
  • The news coming from the Delaware North-Miomni entanglement continued last Thursday. The operator of the Mardi Gras Sportsbook and Wheeling Island Sportsbook casinos officially sued its former sports betting partner.

New Mexico:

• Santa Fe New Mexican, 4.20.19 – Early Line Indicates New Mexico Sportsbooks Good For Casinos
  • The business of legalized sports betting in New Mexico is, to borrow the phrase, paying off. The state’s only legal sportsbooks — at Buffalo Thunder Resort & Casino north of Santa Fe and Santa Ana Star Casino northwest of Albuquerque — are up and running. By most accounts, business is better than expected.

Rhode Island:

• Providence Journal, 4.22.19 – RI Sports Betting Numbers Improved In March, But Remained Below Expectations
  • Rhode Island’s legal sports betting business had its best month yet in March, but still fell short of the profits the state anticipated when it legalized athletic wagering last year.

Mississippi:

• Sports Handle, 4.22.19 – Mississippi Handle Rises, Courtesy March Madness
  • With the NFL season completely over but basketball dominating at Mississippi sportsbooks, the state saw an increase in betting handle and hold in March. According to the Mississippi Gaming Commission’s March revenue report, Mississippi sportsbooks wrote $32.4 million in sports betting tickets and had a 15 percent hold, resulting in $2.5 million in taxable revenue, all of which were big reversals compared to February.