Industry News of the Day for August 8, 2022
iDEA Growth in the News
- Casino Beats, 8.8.22 – Flutter M&A, UKGC, NSW fines & financial updates: The week in numbers
- Jeff Ifrah, Founder & General Counsel of iDEA Growth, hailed a “huge win” for Massachusetts consumers after state lawmakers reached an eleventh hour compromise regarding the legalization of sports betting. Bill H5164 will permit up to 15 online licenses, in addition to five retail sportsbooks at the three state casinos and two racetracks of Encore Boston Harbor and MGM Springfield, which already have on-property space created for such an offering, as well as Plainridge Park, Raynham Park and Suffolk Downs.
iDEA Growth Member News
- California Casinos, 8.5.22 – DraftKings is “Cautiously Optimistic’ that Prop 27 will Pass in California
- An influential supporter of Prop 27 is “cautiously optimistic” that California voters will pass the measure in November, allowing mobile sportsbooks to operate in what should be a massive CA sports betting market. DraftKings sent out a press release Friday that focused on revenue statements for the second quarter of 2022. But the release also addressed the upcoming California election. [Jason Robbins, CEO, DraftKings]
- Sports Handle, 8.5.22 – DraftKings Jumps 19% As Shift To Parlays Leads To Q2 Earnings, Revenue Beat
- DraftKings CEO Jason Robins opened his week with pleasantly surprising news when Massachusetts legislative leaders struck a deal just after 5 a.m. Monday that effectively legalized sports betting in the Bay State.
- Legal Sports Report, 8.5.22 – Retail FanDuel Sportsbook Coming To Las Vegas Boyd Casino
- FanDuel is on the agenda for licensure this month in Nevada, but the company is keeping its plans close to the chest. A company spokesperson declined comment on why FanDuel is listed on August’s Nevada Gaming Control Board agenda, which was published Thursday. The first hearing will come next week with the Gaming Commission meeting Aug. 25 for final approvals.
- California Casinos, 8.5.22 – California’s Tejon Indian Tribe Publicly Backs Prop 26, Opposes Prop 27
- Another California tribe has publicly backed Prop 26, which would allow California sports betting exclusively in-person at Indian casinos and the state’s four horse racetracks.
- California Casinos, 8.5.22 – CA Voter Guide – California Sports Betting Initiatives
- Sports betting is on California’s ballot this November. Various groups have tried to get four California sports betting initiatives on the 2022 ballot. However, only two have made the ballot: Prop 26, from the tribes, and Prop 27, from the private sportsbooks. A third initiative failed to gather enough signatures, and the sponsors of a fourth pulled out of the process.
- Play NJ, 8.5.22 – Evolution Free Bet Blackjack Goes Live At New Jersey Online Casinos
- Evolution, the online casino service provider, released its newest blackjack title in the New Jersey market on Thursday. Free Bet Blackjack is now available to bet on at several NJ online casinos right now. [Todd Haushalter, CPO, Evolution Gaming]
- Play Indiana, 8.5.22 – Indiana Could Be Months Away From Legalizing Online Casinos
- Indiana will try to legalize online casinos soon. The legislative push will heat up right at the start of 2023.
- iGB, 8.8.22 – Higher stakes drive July sports betting revenue growth in Iowa
- An increase in consumer spending on sports wagering in Iowa led to a year-on-year rise in revenue in the US state during July. Players bet $108.6m on sports in July, up by 22.2% from $88.9m in the same month last year but 11.3% lower than $122.4m in June of this year.
- Legal Sports Report, 8.5.22 – Kansas Sports Betting Unlikely To Launch By First NFL Weekend
- Kansas sports betting regulators are still hard at work, but a debut by the start of the NFL season might be slipping away. A KS sports betting launch sometime during the football season is likely, but NFL betting on Sept. 8 might be a stretch, said Todd Allen, director of wagering at the Kansas Racing and Gaming Commission.
- iGB, 8.8.22 – Massachusetts commissioners: legal betting is “going to take some time”
- Massachusetts gaming commissioners have warned that the launch of legal sports betting in the state may take longer than expected, as they prepare to create rules for the vertical.
- Bonus.com, 8.5.22 – Massachusetts: The Next Frontier for Legal Online Casinos?
- Massachusetts sports betting is in legal territory, with a bill to allow both retail and online sportsbooks expected to be signed into law in the coming days. Casinos, racing simulcast facilities, and independent sportsbooks are all expected to benefit when sports betting launches in the Bay State. That launch may happen as early as this fall.
- iGB, 8.8.22 – NY online betting handle drops below $1bn for first time in July
- New York’s online sports betting handle fell to an all-time low in July, falling below $1bn for the first time since the US state opened its regulated market in January this year.
- iGB, 8.8.22 – Oregon sports betting revenue and handle both up in July
- Sports betting gross gaming revenue and handle in Oregon both increased year-on-year in July, according to the latest figures published by the Oregon Lottery. Consumers in the state wagered $28.5m on sports during the month, up 60.0% from $18.2m in the corresponding month last year but 16.2% lower than $34.0m in June of this year.
- TN Bets, 8.5.22 – A Closer Look At Tennessee Online Sports Betting Handle & Revenue
- The online sports betting market in the Volunteer State shows a lot of improvement in total handle year over year. Despite a seasonal lull in online sports betting activity in Tennessee, year over year online sports betting handle in the state is up approximately $41 million (or 23.5 percent) since June 2021.
- Play Virginia, 8.5.22 – Virginia Casino Resorts Are An Employment Boost, According To Labor Data
- More Virginia casino resorts opening across the state won’t just help bettors hit it big. It’s going to play a key role in decreasing unemployment too. The total number of employed Virginians jumped to 4.2 million in June, according to the Bureau of Labor Statistics (BLS). The state’s unemployment rate fell to 2.8%. That’s almost a point below the national average of 3.6%.