Industry News of the Day for August 10, 2022

By iDEA | August 10, 2022

iDEA Growth Member News

  • SBC Americas, 8.10.22 – Light & Wonder reaps rewards in Q2 after business ‘transformation’
    • Light & Wonder President and CEO Barry Cottle has praised the company’s ‘transformation’ during Q2 as it enjoyed a boost in revenue whilst significantly reducing its total debt.
  • Sports Handle, 8.9.22 – BetMGM Becomes Official Sportsbook Partner Of The NFL In Canada
    • BetMGM‘s marketing strategy in Canada to this point has been to target hockey bettors, but now its focus is shifting to the gridiron. The online operator announced Tuesday it has become an official sportsbook partner of the National Football League in Canada. [Adam Greenblatt, CEO, BetMGM]

Industry News

  • Sports Handle, 8.10.22 – For Responsible Gambling Advocates, College Is Tough To Get Into
    • Chester’s football fandom never let up, and by the time he was 28 and making a comfortable living in the construction industry, he was betting regularly on the sport’s college and pro versions — first through bookies, then through offshore websites. In 2006, at the age of 34, Patrick got married. This newlywed era, he said, marked “the early days of my gambling problem.”
  • ESPN, 8.9.22 – The future of NFL betting: Why player props are expected to be king
    • In the 1940s, Charles McNeil, a Connecticut math teacher turned Chicago bookmaker, revolutionized American sports betting. McNeil is credited with inventing the point spread, which has been the preeminent way to bet on football for 80 years. [Jay Croucher, Head of Trading, PointsBet; Kevin Hennessey, Spokesman, FanDuel]

Sports League News

  • Sports Handle, 8.10.22 – Commanders Receive Initial Approval For FedEx Field Sportsbook
    • The Maryland Lottery and Gaming Control Commission gave initial approval for three retail sports betting facility licenses Wednesday morning, including one for a sportsbook at FedEx Field, home of the NFL’s Washington Commanders.

California

  • Play CA, 8.9.22 – Animal Welfare Activists Blast California Sports Betting Prop. 26
    • Proposition 26, the California ballot initiative to allow sports betting only at tribal-run casinos and racinos, came under fire this week from a new group. In a press release, animal activists blast Prop. 26 over its boost to horse racing.

Georgia

  • The Atlanta Journal-Constitution, 8.10.22 – Abrams: It’s time to legalize casino gambling and sports betting
    • Stacey Abrams backed a plan to legalize casino gambling and sports betting to expand the HOPE scholarship and finance a needs-based program as part of a revamped economic platform she hopes will boost her chances to unseat Republican Gov. Brian Kemp.

Massachusetts

  • Sports Handle, 8.10.22 – Massachusetts Governor Still Reviewing Sports Wagering Bill
    • Two days ahead of the deadline to act on the sports betting bill passed by the General Court, Massachusetts Gov. Charlie Baker late Tuesday afternoon told MassLive that he is still contemplating the compromise legislation sent to him Aug. 1. Baker, who as early as 2019 filed his own sports betting bill, has until Thursday to sign, amend, or veto the bill. No action would result in a “pocket veto.”
  • Legal Sports Report, 8.9.22 – Will Regulators Use Carveout To Launch Retail MA Sports Betting?
    • It could take until next year for mobile MA sports betting to launch. The speed of retail’s rollout, however, depends on state regulators.

New York

  • Play NY, 8.9.22 – Down But Not Out: NY Sports Betting Sets Record With $800 Million In July
    • The streak of consecutive months posting $1 billion in handle has ended for New York. Nine online sportsbooks combined for $800.8 million in handle for the month of July, according to figures released by the New York State Gaming Commission, ending the NY sports betting run of six straight months exceeding $1 billion in accepted bets.
  • Sports Handle, 8.9.22 – New York Sports Wagering Operators Post Small Gain In July
    • The New York State Gaming Commission reported overall sports betting revenue totaling nearly $73.9 million for July, a small month-over-month increase despite a sharp decline in handle.
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