Industry News of the Day for December 26, 2019

iDEA Growth Member News:

• The Wall Street Journal, 12.23.19 – Sports-Betting Company DraftKings To Go Public (subscription paywall)
  • DraftKings Inc. has reached an agreement that would take the sports-betting company public next year, a deal that comes as states around the country move to legalize that form of gambling.
• Associated Press, 12.23.19 – Sports Betting Giant DraftKings Plans Merger, To Go Public
  • Sports betting giant DraftKings plans to merge with two other firms and go public, the Boston-based company announced Monday. DraftKings said it will complete its merger with gambling tech firm SBTech and acquisition company Diamond Eagle Acquisition sometime in the first half of 2020.
• Sports Handle, 12.23.19 – New Chapter For DraftKings, Which Is Going Public Via Acquisition By Diamond Eagle
  • In a press release Monday morning, DraftKings announced a merger with former Hollywood executive Jeff Sagansky’s special purpose acquisition company, Diamond Eagle Acquisition Corp., and a more familiar name in the sports betting industry, SBTech.
• Boston Business Journal, 12.24.19 – DraftKings To Grow Its Workforce, Revenue After Merger
  • Boston-based DraftKings Inc., which has a total of over 850 employees, will maintain its growth plans following an agreement with Diamond Eagle to become a publicly traded company as part of a merger, the company said Monday.
• Legal Sports Report, 12.23.19 – Add One More Sports Betting State For 2019: New Hampshire, DraftKings Launching Next Week
  • Make it six states to launch sports betting in 2019 as DraftKings Sportsbook will have its mobile app live in New Hampshire next Monday.
• Sports Handle, 12.23.19 – DraftKings Sportsbook To Go Live In New Hampshire On Dec. 30
  • It’s been a busy Monday at DraftKings, which according to the Union Leader will launch live mobile sports betting in New Hampshire on Dec. 30.
• New Hampshire Union Leader, 12.23.19 – Mobile Sports Betting In NH To Begin Dec. 30
  • Earlier this year Gov. Chris Sununu said legal sports betting would be available in New Hampshire before the 2020 Super Bowl. Now it appears New Hampshire will offer mobile sports betting to those 18 and older sooner than many expected.
• WBUR, 12.25.19 – Year In Mass. Gambling: Encore, DraftKings And The Lottery
  • It’s been a big year for the gambling industry in Massachusetts. The state lottery set a revenue record. Boston-based DraftKings emerged as a leader in legal sports betting.

Industry News:

• US Bets, 12.24.19 – State-By-State Sports Betting Progress: The Year That Was, The Year That Will Be
  • Eight is the number of states that offered legal sports betting at the end of 2018, 13 is the number of states currently allowing sportsbooks to take bets, and 21 is the number of states (or “districts,” but we’ll consider Washington, D.C., a state in this article for simplicity’s sake) that have sports betting laws on the books as 2019 comes to a close.
• Legal Sports Report, 12.23.19 – The Week In Sports Betting: Michigan Becomes 20^th State To Legalize Sportsbooks
  • The second-to-last week in December is usually a quiet time for news. This year is clearly an exception, including Monday morning’s news about DraftKings going public.
• Play NJ, 12.23.19 – 2020 Set For Advancements In Online Sports Betting, Streaming Worlds
  • With 2019 in the rearview mirror, it’s time to assess the future of online sports betting and streaming for the coming year and decade. 2019 was a banner year for the gaming industry, as multiple states legalized sports betting. This opened both a new world for sports fans, as well as bountiful revenue streams for those states.

Overall Industry News:

• Online Poker Report, 12.26.19 – Is Shared Liquidity Ever A Bad Thing For Online Poker Players?
  • One of the biggest problems facing US online poker is that no one knows exactly what the market will look like at full maturity.

Federal News:

• Online Poker Report, 12.23.19 – Federal Government Stubbornly Standing Its Ground In Wire Act Appeal
  • As 2019 winds down, a key carryover issue for online gambling in 2020 surrounds the Wire Act case being fought by the New Hampshire Lottery Commission (NHLC).
• Legal Sports Report, 12.24.19 – Inside The New Tribal Sports Betting Bill In Congress
  • A New York Congressman has introduced legislation regarding sports betting, and Legal Sports Report obtained the text of the bill that has not been previously released.

Pennsylvania:

• The Tribune-Democrat, 12.25.19 – Gambling Expansion Requires Vigilance
  • Analysts say Pennsylvania is now the third-largest market for sports betting in the country, behind only Nevada and New Jersey, and based on population alone, it is likely that Pennsylvania’s sports betting market could pass both of those states.

West Virginia:

• Play WV, 12.24.19 – How The End Of WVU Football Season Is Impacting West Virginia Sports Betting
  • The sports betting handle has fallen two weeks in a row now at West Virginia sportsbooks. After posting their best week ever for Nov. 30, the overall betting handle has fallen two straight weeks.

Indiana:

• Play Indiana, 12.23.19 – Crystal Ball: Predicting Top Five Indiana Sports Betting Headlines Of 2020
  • The year 2019 has been a huge one for the gaming industry in the Hoosier State. It will be hard for 2020 to top it, but the new year could still bring some big Indiana sports betting headlines.

Connecticut:

• Associated Press, 12.24.19 – Lamont And Tribes Were Close On Gambling Deal, Emails Show
  • Newly released emails show Connecticut Gov. Ned Lamont thought he was close earlier this year to reaching a wide-ranging gambling agreement with the state’s two federally recognized Native American tribes, a goal he now appears to be scaling back.

Kentucky:

• US Bets, 12.23.19 – Kentucky Would Ban Betting On UK, Louisville Under Draft Sports Wagering Bill
  • The Bluegrass State is a serious contender to legalize sports wagering in 2020. A bill pre-filed earlier this month calls for regulated sports betting, in a retail and online setting, in Kentucky. The state’s House failed to advance the measure this past spring, but the odds are better in 2020.

Massachusetts:

• Boston Herald, 12.26.19 – Sluggish Pace On Sports Betting Bill A Huge Gamble
  • Mike Mathis, the MGM Springfield Casino president, went on the most popular sports radio talk show in Boston, 98.5 The Sports Hub, last week to gently prod Massachusetts state lawmakers into passing a sports betting bill.

Iowa:

• KWWL, 12.25.19 – Sports Betting Changes The Game In 2019
  • One of the highlights of 2019 was the journey of how sports betting came to be in Iowa.
• KIWA, 12.25.19 – Sports Betting Expected To Drop Off After December
  • The money bet on sports has gradually increased since it became legal in mid-August — but the betting is expected to drop off as we get deeper into winter.

California:

• California Globe, 12.23.19 – Two Sports Betting Initiatives Prepare For Assembly And Senate Battles In 2020
  • Two different initiatives to make sports betting legal in California will soon be facing the next steps for a November ballot vote.

Rhode Island:

• Legal Sports Report, 12.24.19 – Another Bump In The Rhode Island: How A Sports Betting Lawsuit Could Derail Progress
  • Rhode Island has been slow to hit its stride with legal sports betting, despite its head start. The state which saw a $22.2 million handle in September has not seen that translate into significant revenue via the 51 percent tax that was imposed.

Colorado:

• 9 News, 12.23.19 – The New Sports Betting Law Won’t Make It Rain For Colorado’s Water Plan. Here’s Why.
  • If sports betting was supposed to make it rain on Colorado’s Water Plan, state lawmakers are being prepared for a drizzle. At a recent Joint Budget Committee meeting, the lawmakers that prepare the state’s budget were warned about reduced expectations for the start of legalized sports betting.