Industry News of the Day for August 3, 2023

By iDEA | August 3, 2023

Industry News

  • Legal Sports Report: Will CEO’s ‘Cautious Optimism’ Play Out In Q2 Profit For Caesars Digital?
    • The last time Caesars CEO Tom Reeg addressed the company’s sports betting and casino apps, he was “cautiously optimistic” they had seen their last quarter of losses. Investors will see those results Tuesday when Caesars reports earnings for Q2. Reeg and his contemporaries at DraftKings and BetMGM forecasted their online sports betting businesses hitting quarterly profitability by the end of the year. With a clearer picture of the quarter, though, some goalposts are moving.
  • SBC Americas: Suggested Bets: Netflix For Sportsbooks Or Dangerous Tools?
    • The world of content is increasingly dominated by algorithms, TikTok, and waning user attention spans; sports betting is no different. Therefore, it’s no surprise that industry executives discussed the possibility of increasing the use of suggested bets in the coming years. At SBC Summit North America, Earl Mitchell, SVP Predictive Analysis at Hard Rock Digital, suggested that increasing user demand for personalized content, fueled by social media, will inevitably drive the take-up of suggested bets going forward.
  • US Bets: Regulators Grapple With Potential Problem Gambling Impact Of iCasino Expansion
    • The potential expansion of online casino gambling in the United States is top of mind for state regulators, especially as it relates to problem gambling measures.  Despite minimal iCasino legalization across states in 2023, industry experts still anticipate iGaming expansion in the coming years.  “I think the real issue that the gaming world is looking at [is] what’s the future of gambling?” David Rebuck, director of the New Jersey Division of Gaming Enforcement, said during a panel discussion at the National Council on Problem Gambling’s National Conference.
  • AP News: Twitch Expands Its Ban On Gambling Livestreams. It Also Says Viewership Of The Content Is Down 75%
    • Amazon-owned Twitch said Wednesday it’s expanding the ban on livestreams of gambling content on the platform. The company said it will now prohibit streams of online casinos Blaze and Gamdom, adding to the four sites it banned last October when its new gambling policy went into effect. Twitch announced the restrictions after a controversy broke out on the platform last year involving a streamer accused of scamming users and other content creators out of thousands of dollars to fuel a gambling addiction.

Illinois

  • Bonus.com: Betway Is the Sole Applicant for Illinois’ Online-Only Sports License
    • Betway is the sole applicant and winner of an Illinois online-only sports betting license. During the July 27 Illinois Gaming Board (IGB) meeting, IGB Administrator Marcus Fruchter pointed out that identifying Betway as a winning bidder does not grant the operator a license. The IGB added that there was another bidder, which withdrew its application in early July. As part of the licensing process, the governing body will conduct an investigation of the application.

Kentucky

  • PlayKentucky: Lawyer: KY Colleges Need ‘Targeted Training’ To Prevent Betting Scandals
    • There may not be a more buzzing topic in sports betting than compliance issues involving college student-athletes. Iowa State is at the heart of the issue right now, as starting quarterback Hunter Dekkers is facing criminal charges related to underage gambling on Iowa State athletic events — including football games. But Kentucky could soon be under the microscope as well.

New York

  • PlayNY: Breaking Down The Chances Of All 11 NY Casino Proposals For Three Downstate Licenses
    • At some point, New York will be awarding three downstate casino licenses. The bidding war for the three downstate casino licenses is underway. There are 11 known applicants, including some of the biggest names in gambling, such as Bally’s, Caesars, Wynn, Hard Rock and Las Vegas Sands. Some of the proposals call for billions of dollars of investment and thousands of jobs while promising community development and additional local taxes.

North Carolina

  • NC Sharp: NCSharp Survey: Strong Support To Expand North Carolina Casinos
    • According to an NCSharp survey of 1,000 North Carolinians, 45% of respondents support casino expansion. North Carolina lawmakers are considering commercial casino expansion as part of a new state budget. Only 29% of respondents believed North Carolina shouldn’t expand casino gambling. That left 26% unsure whether the state should expand casino gambling. Lawmakers in the state Senate have proposed a casino expansion of four casinos, including one to be operated by the Lumbee Tribe in the southeastern part of the state.
  • WGHP: Hundreds Against Controversial Casino Proposal In Rockingham County
    • Hundreds of people in western Rockingham County do not want a casino where they live. The Ellisboro Baptist Church had standing room only on Tuesday night for a community meeting organized against any casino development on 192 acres off Highway 220 in Rockingham County. A vote to rezone the property failed, but it will still go before the county commission.

West Virginia

  • PlayUSA: Betly Casino And Sportsbook App Relaunches In West Virginia
    • Starting this month, Betly customers in West Virginia can place a sports bet and play online casino games from one app: Betly Casino and Sportsbook. This week, Delaware North, which operates two casinos in Mountaineer State, announced it relaunched Betly after switching platform providers from International Gaming Technology (IGT) to Belgium-based Gamewise.
Posted in Daily Clips