Industry News of the Day for April 30, 2020

iDEA Growth Member News:

• PlayPennsylvania, 4.29.20 – PA Gaming Review: DraftKings Casino & Horse Racing Gear Up To Get Out Of The Gate
  • The new reality of wagering in a world reeling and still dealing with COVID-19 has produced some news in the past week. DraftKings plans to add an online casino to its portfolio in the Quaker State as demand for online surges.
• Penn Bets, 4.29.20 – DraftKings Launching PA iCasino Wednesday, Hours After Receiving State License
  • DraftKings is entering the increasingly crowded Pennsylvania iCasino market, preparing to do so within hours of receiving its license to provide online slots and table games.

Industry News:

• PlayUSA, 4.29.20 – Top Gaming Industry Analyst: Moving Online Now Can Safeguard Gaming From Next Quake
  • The future of the American sports betting industry remains promising, perhaps even record-setting next year, said gaming industry analyst and SpringOwl Asset Management CEO Jason Ader.
• Legal Sports Report, 4.29.20 – How Sports Betting Fits Into The New NCAA Student-Athlete Endorsement Rules
  • The NCAA took a major step toward allowing student-athlete endorsement deals based on name, image and likeness (NIL) today.

Overall Industry News:

• Gambling Compliance, 4.30.20 – US Lottery Directors: Fallout From Pandemic Could Transform Industry (subscription paywall)
  • Several U.S. lottery directors said Wednesday the effects of the coronavirus pandemic will be transformative for the lottery industry in terms of expansion to new channels.

Federal News:

• Gambling Compliance, 4.30.20 – In Pivot To Internet, Gaming Must Reckon With Wire Act (subscription paywall)
  • An enduring legacy of the coronavirus pandemic almost certainly will be an acceleration of U.S. gaming’s transition from brick and mortar casinos to internet gambling and mobile sports wagering.
• Online Poker Report, 4.29.20 – Coronavirus Relief Loans Finally Coming To Small Casinos, But Too Late For Some
  • Last week, the Small Business Administration (SBA) updated its guidelines for Payroll Protection Program (PPP) loans to remove the exclusion of small US gambling businesses.

New Jersey:

• PlayNJ, 4.29.20 – Are Atlantic City Casinos Opening For Memorial Day A Pipedream?
  • When will Atlantic City casinos reopen? Call it the multimillion-dollar question.

Rhode Island:

• Providence Journal, 4.29.20 – Lottery Writing Plan For Reopening Of Twin River Casinos
  • The Rhode Island Lottery and Twin River have a tentative plan to reopen casinos in the coming months, but will need the approval of Gov. Gina Raimondo and state health officials to go ahead with it.
• Gaming Intelligence, 4.30.20 – Rhode Island Sportsbooks See Wagers Decline To $8.9M In March (subscription paywall)
  • Rhode Island’s regulated sports betting market saw total wagers decline by 62 percent to $8.9m in March following the closure of the state’s two casinos mid-month due to the COVID-19 pandemic.

Virginia:

• PlayUSA, 4.29.20 – Virginia Sports Betting Finally Crosses Legal Finish Line
  • Legalized Virginia sports betting is ready to colonize.

West Virginia:

• PlayWV, 4.29.20 – Sports Betting Handle Takes A Dive With Sports On Hiatus And WV Casinos Closed
  • Unsurprisingly, West Virginia sportsbooks have seen a significant drop in wagers over the last four weeks.
• WV Metro News, 4.29.20 – Lottery Revenues Fall Off $36 Million From February To March Because Of Pandemic
  • State gambling revenues took a $36 million coronavirus-related plunge from February to March, according to numbers released during Wednesday’s meeting of the state Lottery Commission.

Illinois:

• Sports Handle, 4.29.20 – Illinois Gaming Board Working Through Sports Betting License Applications
  • There may not be any sports wagering taking place in Illinois due to the COVID-19 pandemic, but the Illinois Gaming Board has been quietly reviewing and approving sports betting, supplier, and management services provider applications in the interim.

Ohio:

• PlayMichigan, 4.29.20 – Ohio Could Also Become Michigan Rivals In Sports Betting
  • With Ohio now considering the implementation of legalized sports gambling, the Michigan vs. Ohio feud could carry over to the sports betting market.

Colorado:

• Sports Handle, 4.29.20 – Here Are The Operators Launching Online Colorado Sportsbooks On Friday (And Those In Queue)
  • Friday is the day Colorado regulators and operators have had circled in red on their calendar since November 2019 when voters legalized sports betting in Colorado via referendum.
• PlayUSA, 4.29.20 – Incoming Colorado Sportsbook Operators Reveal Optimism For Launch And Beyond
  • For the past two years, legalized sports betting has permeated the country. State-regulated industries have cropped up in bunches along the east coast and in the heart of the Midwest.
• The Gazette, 4.29.20 – All Bets Are Off As New Water-Related Colorado Gambling Tax Forecasts Plummet
  • when COVID-19 has wiped all athletes worldwide from the fields, courts and stadiums where they would normally play.

Nevada:

• ESPN, 4.29.20 – Coronavirus Takes Heavy Toll On Nevada Betting In March
  • Nevada sportsbooks saw the amount wagered in March plummet 76% year-over-year as the coronavirus pandemic halted sports midway through what is typically one of Las Vegas’ most lucrative months.
• Legal Sports Report, 4.29.20 – Nevada Sports Betting Revenue And Handle Plummet In March
  • Sports betting handle fell 76% in Nevada last month as all major sports shut down because of the coronavirus pandemic.
• iGB North America, 4.29.20 – COVID-19 Cuts Into Nevada Gaming Revenue In March
  • The closure of Nevada’s casinos from 17 March as a result of the novel coronavirus (Covid-19) pandemic has resulted in gaming revenue falling 39.6% year-on-year, with the state’s sportsbooks hit especially hard.