Industry News of the Day for August 11, 2020

iDEA Growth Member News:

• US Bets, 8.10.20 – Study Aims To Explain Gambling Issues To Lawmakers (GVC Holdings)
  • Anyone in the media who has covered statehouse legislative debates — or congressional ones — knows that few lawmakers seem to have a firm grasp of the issues surrounding legal, regulated sports betting and other gambling expansion in the U.S.
• Legal Sports Report, 8.10.20 – The Week In Sports Betting News: To Pay Or Not To Pay For FanDuel? (DraftKings)
  • Sports betting appears to be back in full swing after a packed weekend schedule but news of major college football programs potentially postponing their seasons could dampen that resurgence.

Industry News:

• The Wall Street Journal, 8.10.20 – IAC/InterActive Bets $1 Billion On 12% MGM Resorts Stake
  • IAC/InterActiveCorp., flush with cash from the recent spinoff of online dating site Match.com, on Monday said it has spent just over $1 billion to build a 12% stake in MGM Resorts International, and that it plans to work with the casino operator to expand its online-gambling business.
• Legal Sports Report, 8.10.20 – This Media Giant Just Made A $1 Billion Bet on MGM’s Online Potential
  • MGM Resorts shares jumped 13% Monday on news that digital media giant IAC has built a $1 billion dollar position in the casino brand, on the back of its online gambling potential.
• Online Poker Report, 8.10.20 – New MGM Resorts Investor Buys $1 Billion Stake, Eyes Online Gambling
  • American holding company IAC announced on Monday that it has been buying up shares of MGM Resorts International over a period of a few months

Overall Industry News:

• SBC Americas, 8.10.20 – AGA Focuses On Safer Gambling During Forthcoming Education Week
  • The American Gaming Association (AGA) has issued a reminder to members regarding its forthcoming Responsible Gambling Education Week (RGEW), citing the initiative as an ‘integral part of daily industry operations’.

Pennsylvania:

• PlayPennsylvania, 8.10.20 – PA Lottery Generates Over $1 Billion Despite Pandemic, iLottery Sales Surge
  • According to a news release, traditional game sales were down $33.8 million, a 0.75% decline from last year. And as noted previously at PA Online Casino, 30 percent of the state’s retail lottery locations were shut down in March.

Virginia:

• Sports Handle, 8.10.20 – Virginia Lottery Rolls Out Proposed Phase 2 Sports Betting Regulations
  • The Virginia Lottery on Monday released its second set of proposed sports betting regulations, which include sections on operations, internal controls, and enforcement.
• Gambling Compliance, 8.11.20 – Virginia Draft Regulations Include Strict Advertising Restrictions Similar To Tennessee (subscription paywall)
  • The Virginia Lottery released its second phase of draft sports-betting regulations on Monday, which borrowed from Tennessee’s regulations to include strict advertising restrictions on potential operators.
• Richmond Times-Dispatch, 8.10.20 – Virginia Lottery Releases Additional Regulation Drafts As Sports Betting Implementation Process Continues To Progress
  • The Virginia Lottery on Monday moved closer to solidifying the guidebook for sports betting operations in the state.

West Virginia:

• PlayWV, 8.10.20 – Mission Impossible? PropMe Wants To Change The WV Online Sports Betting Market
  • Currently, the scope of legal online sports betting in West Virginia amounts to whatever the three licensed sports betting apps in the state offer. The PropMe sports betting app wants to innovate that space, but it needs some help to make that happen.
• Gaming Intelligence, 8.11.20 – West Virginia Sportsbooks Collect $15.9M In Wagers In July (subscription paywall)
  • West Virginia’s licensed sportsbooks collected $15.9m in total wagers during the five-week period that ended 1 August.

Illinois:

• Legal Sports Report, 8.10.20 – What The Health? New Pritzker Order Leaves Illinois Sports Betting At Risk
  • Governor JB Pritzker is placing the health of his residents interested in Illinois sports betting at risk by reinstating the in-person signup requirement.
• PlayIllinois, 8.10.20 – Big Zero: Big Ten’s Pending Decision To Cancel Football Will Affect IL Sportsbooks
  • On Friday, the Big Ten was going to play 10 conference football games in 2020. Now, the Big Ten college football season may likely have a new total of games for 2020: zero.

Indiana:

• Legal Sports Report, 8.10.20 – Indiana Sports Betting Hits $1 Billion Wagered In Less Than A Year
  • After a few months of the coronavirus pandemic interrupting the ramp-up of Indiana sports betting, it looks like the market might be back on track.
• PlayIndiana, 8.10.20 – With $70 Million In July, Indiana’s Little Sports Betting Handle Surpasses $1 Billion
  • Lifetime sports betting handle in Indiana has passed the $1 billion mark.
• NWI Times, 8.10.20 – Indiana Casino Gambling, Sports Wagering Revenue Nearly Back To Normal Despite COVID-19 Restrictions
  • Gambling in the Hoosier State is roaring back following an unprecedented three-month casino shutdown due to the coronavirus pandemic.

Colorado:

• PlayColorado, 8.10.20 – TheScore Gets Green Light To Offer Sports Betting In Colorado
  • TheScore Bet is looking to score big in Colorado. The online sportsbook is the latest to gain entry into the Colorado sports betting marke