Industry News of the Day for April 6, 2020
iDEA Growth Member News
- The New York Times, 4.6.20 – Closed And Without March Madness Bets, Sports Betting Faces New Pressure (888 Holdings)
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- Sports betting was poised for a big moment. Then the coronavirus pandemic led to closed casinos and the cancellation of the N.C.A.A. basketball tournaments.
- iGB, 4.3.20 – Seeking Stability In Virtual Sports (Sportradar)
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- In the face of world-wide clampdowns on mass public events, the first half of 2020 looks to be a challenging time for sportsbooks. So, when the lights go out and stadiums are empty, how can operators ensure stable and continuous revenue?
Industry News
- Legal Sports Report, 4.6.20 – Analysis: Could Fallout Of Coronavirus Suspensions Spur Sports Betting M&A?
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- The lack of sports during the coronavirus pandemic has frozen the sports betting sector like never before.
- Cheddar, 4.3.20 – Full Recovery For Sports Betting Industry Likely Not In The Cards For 2020, Says William Hill US CEO
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- Joe Asher, CEO of William Hill U.S., joined Cheddar to discuss when the sports betting industry can expect to rebound from the economic fallout caused by coronavirus.
- 14 News, 4.3.20 – Sports Gambling Industry Caught In Standstill Amid COVID-19 Pandemic
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- The coronavirus (COVID-19) pandemic has brought the sports world to a standstill, so that means sports betting is also currently off the books.
- WIRED, 4.4.20 – With Sports On Hold, Restless Gamblers Turn To Videogames
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- With sports seasons suspended, the billion-dollar betting industry has set its sights on digital arenas.
- Front Office Sports, 4.3.20 – eSports Betting Doubles Down In Absence Of Live Sports
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- With the absence of most live sports – except Belarusian soccer – sport betting operators are turning more to virtual events.
- SBC Americas, 4.6.20 – US Online Market Needs Image And Awareness Lift Finds Leadstar
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- There is still work to be done on both the image and public awareness of legal sports betting in the US found Leadstar Media, an affiliate company now licensed and fully operational in both New Jersey (NJ) and Indiana.
Overall Industry News
- PlayUSA, 4.3.20 – The Unexpected Resurrection Of US Online Poker
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- Olympic gold medalist Michael Phelps, Brazilian soccer star Neymar and legendary Australian cricket player Shane Warne live-stream a game of online poker.
Federal News
- Gambling Compliance, 4.6.20 – Blocked Federal Loans Leave US Gambling Industry Reeling (subscription paywall)
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- The Small Business Administration (SBA) has pulled the rug out from under the U.S. gambling industry by declaring companies which receive at least one-third of their income from gaming will remain ineligible for federal loans.
Sports League News
- US Bets, 4.4.20 – NBA Throws Sportsbooks Lifeline With H-O-R-S-E Event
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- The NBA was the first major pro sports league to suspend its season in mid-March amid the COVID-19 pandemic. On Saturday, the league reportedly decided to return with an upcoming H-O-R-S-E event.
Connecticut
- CT Mirror, 4.3.20 – Online Gambling During COVID-19? Lamont: ‘I Must Decline.’
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- Gov. Ned Lamont on Friday quickly dismissed a request by eastern Connecticut municipal officials that he use his emergency powers to unilaterally permit the tribal owners of Foxwoods Resort Casino and Mohegan Sun to offer online gambling while they are closed due to COVID-19.
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- Gov. Ned Lamont has declined southeastern Connecticut officials’ request that he immediately grant the Mashantucket Pequot and Mohegan tribes permission to provide online gaming.
New Jersey
- NJ Online Gambling, 4.3.20 – Atlantic City Casinos Lay Off Workers In Massive Numbers, Try To Chart A Path Forward
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- Here’s a recap of how the casinos reacted to Governor Murphy’s order that all casinos be closed as of March 16, and the impact on Atlantic City’s 33,000 casino workers:
Pennsylvania
- Penn Bets, 4.3.20 – Pennsylvania Online Lottery Reports 29 Percent Uptick In Play Amid Social Distancing
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- Gambling via the internet is up across the board in Pennsylvania, including online lottery play.
Colorado
- Legal Sports Report, 4.3.20 – Colorado Sports Betting Regulators Approve Licenses As Launch Date Draws Closer
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- Gaming regulators approved 32 more licenses related to Colorado sports betting, including six online operators and eight casinos.
- Mile High Sports, 4.4.20 – PointsBet Wins Colorado Sports Betting License
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- PointsBet has cleared the last regulatory hurdle in its bid to bring its unique brand of sports betting to Colorado according to ColoradoSharp.com.
Nevada
- ESPN, 4.3.20 – Nevada Approves Betting On Virtual NASCAR Races
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- Start your engines and place your bets — Las Vegas is taking action on virtual NASCAR racing.
Montana
- Helena Independent Record, 4.4.20 – Lack Of Action Not A Concern For Sports Bet Montana
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- Although they started accepting bets after the first wave of terminals were installed March 9, Sports Bet Montana has seen little action since.
Iowa
- PlayIA, 4.3.20 – Why Can’t Iowa Sportsbooks Take Bets On The NFL Draft?
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- The 2020 NFL Draft will go on as scheduled despite coronavirus pandemic concerns. Bettors looking to get in on the action for the event in Iowa will be disappointed, however.
West Virginia
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- It was clear that the suspension and cancellation of basically every major sport played in the US would have a major impact on West Virginia sportsbooks. That reality came to light this week as the revenue figures from the first week without sports were released.