Industry News of the Day for February 14, 2024

By iDEA | February 14, 2024

Industry News

  • Gaming Today: Kindbridge Using Public Data, New Research To Improve Problem Gambling
    • Kindbridge Research Institute recently commissioned a study with Rutgers to map populations at risk for problem gambling against treatment options available in Colorado. The findings—all curated using publicly available data—provide a new lens through which stakeholders can take stock of their approaches to responsible gambling and strategies to help problem gamblers get help. The study started with Colorado, but Kindbridge and Rutgers see the potential for a much broader impact in gambling markets across the US. Funding came from CODOG Responsible Gaming Grants. Playtech was also fundamental in laying the foundation for the research—work began on the project three years ago.
  • CDC Gaming Reports: Record Year For MGM Capped By Record Fourth Quarter
    • During its earnings conference call Tuesday, MGM Resorts International reported revenue of $4.4 billion for the fourth quarter of 2023, the cherry on top of the year’s $16.2 billion in revenue. The fourth-quarter revenue was a 22% year-over-year increase, yielding operating income of $419 million compared to an operating loss of $2 million in the same time period of 2022. Consolidated adjusted EBITDAR was $1.2 billion. The revenue for 2024 was a 23% increase compared to 2022, with operating income of $1.9 billion compared to $1.4 billion in 2022 and consolidated adjusted EBITDAR of $4.6 billion.

Alabama

  • SportsHandle: Alabama Gambling Hearing A Mixed Bag With Surprise Witnesses
    • In two somewhat surprising moments Tuesday, representatives from a pair of mental health groups did not oppose a pair of Alabama bills that could bring statewide online sports betting, retail sports betting, retail casino, and lottery to the state. Traditionally, such groups oppose legal wagering or fight for additional funding for addiction services, but Holly McCorkle of the Alabama Council for Behavioral Health and John Kilpatrick of Alabama Veterans Recovery Resources both said during a hearing before the House Economic Development and Tourism Committee that while they took no firm position on the bills, they were in support of additional funding for mental health in the state.

Alberta

  • PlayCanada: Alberta On Track To Become Second Canadian Province To Legalize Online Gambling
    • A recent trip across the pond suggests Alberta is advancing toward becoming the second Canadian province to legalize online gambling, also known as iGaming. PlayCanada has confirmed that Dale Nally, Minister of Service Alberta and Red Tape Reduction, is working on an open, regulated Alberta online gambling  market similar to Ontario’s. Nally’s office emailed a statement that reads: “Alberta can be a leading hub for iGaming, with a strong emphasis on openness and a free market. We have low corporate taxes, streamlined regulations and high disposable incomes. These conditions will allow us to establish ourselves as a premier destination for the iGaming industry.”

Illinois

  • PlayUSA: IL Rep. Daniel Didech Submits Bill For Problem Gambling Task Force
    • Lawmakers in one of the nation’s three largest sports betting markets have proposed a bill that would create a problem gambling task force. Illinois Rep. Daniel Didech has submitted a bill (HB 5307) to amend the state’s gambling legislation to include guidelines for creating and maintaining a Problem Gambling Task Force that would “provide recommendations to the General Assembly on how the State should continue to meet its responsibility to assist those who suffer from a gambling problem or disorder,” the bill reads. Didech’s bill lays out the framework for how the task force would be assembled and who would be on it.

Indiana

  • PlayIndiana: Indiana Sports Bettors Start 2024 By Wagering $480.5 Million In January
    • DraftKings and FanDuel continue to dominate the Indiana sports betting market, combining for more than 70% of the total handle in January. ESPN BET, in only its second full month, was fourth among Indiana sportsbooks in total handle with $30.8 million. In December, the former Barstool Sportsbook had finished fifth in the state, trailing Caesars, which it leapfrogged by a little less than $1 million in January. More than $480.5 million was wagered at online and retail sportsbooks in Indiana in January. Adjusted gross revenue was $53. 5 million, which resulted in $5.1 million being paid to the state by the 12 sports betting operators in the state.

New York

  • Legal Sports Report: PrizePicks Fined $15 Million For Operating Without License In New York
    • PrizePicks agreed to pay $15 million to New York for offering “purported” fantasy sports contests without a license, as part of a settlement with the state gaming commission. News of the fine comes a day after PrizePicks announced it would cease paid operations in New York this week, which is also part of the settlement. PrizePicks remained operational in New York throughout football season despite the state approving rules in October that banned its primary game, announcing its departure the day after Super Bowl 58. “The settlement speaks for itself,” a spokesperson with the New York State Gaming Commission told LSR.

West Virginia

  • Bonus.com: West Virginia Responsible Gaming And Research Act Would Require Gambling Operators to Share Data With Researchers
    • West Virginia is considering legislation that would compel gambling operators to share data with academics for responsible gaming research purposes. It’s a move that harm reduction advocates have been calling for, and the Mountain State now has a chance to lead the way. HB5668 appeared in the House on Feb. 13, aiming to create the West Virginia Responsible Gaming and Research Act (RGRA). Its primary sponsor is Rep. Roger Hanshaw, currently Speaker of the House. He is joined by Rep. Shawn Fluharty, notably the president of the National Council of Legislators from Gaming States (NCLGS). The NCLGS is currently working on model iGaming legislation. This document would serve as a template for all future states looking to legalize online casinos.
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