Industry News of the Day for February 18, 2021

iDEA Growth Member News

• Law360, 2.17.21 – Sportsbooks Could Use Derivatives Market, But Is It Betting? (Ifrah Law; subscription paywall)
  • The Commodity Futures Trading Commission is considering a proposal to begin listing futures contracts based on the outcomes of NFL games for sale on an exchange open to sports betting operators and stadium owners and vendors, a move attorneys say is brought on by the financial risks from state-by-state legalization of sports betting.
• Bloomberg, 2.18.21 – New AI To Identify Problem Gamblers Online
  • Entain Plc says it will use big data in an attempt to identify problem gamblers, responding to a looming regulatory crackdown on the digital betting industry, which has been fueled by lockdowns during the pandemic.
• MI Bets, 2.17.21 – BetMGM Leads Pack As Michigan Online Casinos Win $27.5 Million Over 10 Days
  • The BetMGM online casino hit the jackpot in the first 10 days of operation in Michigan with over $11 million in gross gaming revenue, accounting for nearly 38% of all online casino gaming in the state between the launch date of Jan. 22 and the end of the month.
• MI Bets, 2.17.21 – FanDuel Jumps Out To Early Lead In MI Sportsbook Wars, With DraftKings And Barstool Right Behind
  • FanDuel’s online sportsbook has taken the first round in the battle for supremacy in Michigan, as the first batch of numbers were released Wednesday morning by the Michigan Gaming Control Board (MGCB).

Industry News:

• PlayUSA, 2.17.21 – PlayUSA Rewind: Texas Lt. Gov. Says No To Sports Betting Idea
  • TX sports betting is shot down by a top lawmaker, an Arizona sports betting bill deflates, NHL now owns a stake in a sportsbook, and customers bet big on the Super Bowl.
• US Bets, 2.18.21 – It All Adds Up: Another National Monthly High For Sports Betting Handle
  • The sports betting money kept flowing in December 2020, and a new benchmark for national handle was established — even if there’s a good chance it won’t remain the record for long.

Overall Industry News:

• Associated Press, 2.17.21 – Casino Industry Report Charts Sharp Drop In 2020 Revenues
  • A national casino industry group said Wednesday the pandemic cut gambling revenue in the U.S. by 31% in 2020, compared with the year before.

Sports League News:

• SBC Americas, 2.18.21 – Bally’s Corporation Forms Multi-Year Strategic Partnership With NHL
  • Bally’s Corporation, a leading US provider of land-based gaming and interactive entertainment, has formed a multi-year strategic partnership with the National Hockey League (NHL), under the terms of which it becomes the official sports betting partner of the league.

New Jersey:

• Online Poker Report, 2.17.21 – NJ Online Casino & Poker Starts 2021 On Right Foot With First $100 Million Month
  • New Jersey’s online gambling market is going strong out of the gates for 2021. Its online casinos and poker rooms generated a combined $103,771,312 in revenue. It’s the first month on record in state history that this total has broken into the nine figures.
• Legal Sports Report, 2.17.21 – NJ Sports Betting Market Keeps On Rolling With Record January Revenue
  • New Jersey set yet another new sports betting revenue record in January, with the state’s sportsbooks winning $82.6 million.
• Associated Press, 2.17.21 – Atlantic City Casino Revenue Up 9.3% In January (With Help)
  • New Jersey’s sports betting juggernaut slowed a bit in January, even as those bets and internet gambling helped the Atlantic City casinos avoid a revenue decrease for the month, according to figures released Wednesday.

Pennsylvania:

• Philadelphia Business Journal, 2.17.21 – Pennsylvania Casinos Haul In $311M In January As Live! Casino Philadelphia Joins The Club
  • The sports betting segment also had a strong January as bettors wagered almost $615.3 million.
• Legal Sports Report, 2.17.21 – Keystone Props: Pennsylvania Sports Betting Hits $600 Million Handle In January
  • A record $615.3 million was wagered last month, according to the Pennsylvania sports betting state report released Wednesday. That tops the previous record of $548.6 million in December.
• PlayPennsylvania, 2.17.21 – PA Sportsbooks Jump Start 2021 With Record $615 Million Handle
  • December’s all-time handle was shattered by a record-breaking January handle of $615.3 million. Compared to November, sports betting handle was up 25%. Revenue for January hit $34 million.

Washington, D.C.:

• iGB North America, 2.17.21 – William Hill DC Handle Dips In January, But Stays Ahead Of Gambet
  • William Hill saw its sportsbook handle in Washington DC fall month-over-month in January, despite the operator rolling out a limited mobile offering during the month.

Michigan:

• MLive, 2.17.21 – Over Just 10 Days, Michigan Sports Bettors Wagered $115 Million Online In January
  • Michigan’s online sports betting launch in January came close to a national record, despite going live with just 10 days remaining in the month.
• Detroit Free Press, 2.17.21 – Michigan Online Gambling, Sports Betting Raked In $43 Million In First 10 Days
  • Online gambling and online sports betting brought in $42.7 million in gross receipts during the first 10 days of legal play in Michigan, state regulators announced Wednesday.
• Legal Sports Report, 2.17.21 – Michigan Sports Betting Sees $115M Bet Online In 10 Days
  • We only have 10 days of data but online sports betting in Michigan looks ready to fight for a top-five spot in the US.

Illinois:

• PlayIllinois, 2.17.21 – Out Like A Lion: 4 Takeaways From Illinois’ December Sports Betting Report
  • Illinois recorded a $491.7 million December sports betting handle, setting yet another monthly record.

Iowa:

• PlayIA, 2.17.21 – Iowa Casinos Counter Strike IGA Ruling With Bill Allowing Esports Wagering
  • New legislation introduced in Iowa attempts to authorize esports wagering for Iowa sportsbooks.

North Dakota:

• Associated Press, 2.17.21 – North Dakota Committee Endorses Sports Betting Resolution
  • A House committee on Wednesday endorsed a resolution that would allow North Dakotans to decide if sports gambling should be allowed in the state.
• KFYR, 2.17.21 – Lawmakers Going “All-In” On Sports Betting
  • North Dakotans could be voting on ballot measure as soon as November 2022 to legalize sports gambling.

South Dakota:

• KEVN, 2.17.21 – South Dakota’s First Sportsbook To Open At End Of 2021
  • In anticipation of the South Dakota legislature passing laws on sports betting, the state’s first sportsbook will open before the end of 2021 in Deadwood.

Georgia:

• PlayTenn, 2.18.21 – Once Again, Georgia Lawmakers Push To Legalize Casinos
  • Georgia lawmakers have once again introduced legislation to expand legal gambling in the state.

Arizona:

• The Action Network, 2.17.21 – Arizona Sports Betting Bill Advances After Marathon Hearing
  • An Arizona Senate committee advanced a sports betting legalization bill Wednesday, a major step forward that further bolsters legal sportsbooks’ hopes after the House advanced the companion bill days earlier.