Industry News of the Day for February 7, 2024

Industry News

• Bonus.com: Evolution Reports Profitable Q4 But North American Growth Isn’t Keeping Pace With Market
  • Casino content supplier Evolution continues to be profitable and to grow its international business, but there are signs that its stranglehold on the North American live dealer market is slipping. The company’s latest financial filing shows over €475 million ($510 million) in revenue in Q4 2023, an increase of 16.6% year over year. However, revenue from its North American segment increased only 5.2%, while gross gaming revenue for online casino operators in the region grew almost five times faster.

• Gaming Today: What Does Big Ten, SEC Collaboration Mean For Future of College Sports Betting?
  • With every passing college football season, it becomes more evident the power is shifting in collegiate sports. Last week, the Big Ten and Southeast Conference (SEC) announced the creation of a joint advisory group that will explore several issues of importance. As powerful as the two conferences are, the Big Ten and SEC pulling in the same direction could make transformative changes in college sports. That could lead to a very different experience for sports betting apps and consumers. With a unified Big Ten/SEC, what alterations might we see in college football and basketball, by far the most popular NCAA sports?

• SBC Americas: XLMedia Scores Sports Betting Content Partnership With Star Tribune
  • XLMedia has landed an exclusive sports betting content partnership with a Midwest news organization. The digital media publisher has announced a partnership with the Star Tribune Media Company, which is the largest new organization in the Upper Midwest. As part of its deal with the Star Tribune, XLMedia will deliver commercial sports betting content to the news organization’s more than 7 million monthly users. The pact will also see XLMedia and the Star Tribune leverage a daily fantasy sports industry that sees the Minnesota market ranked top five in usage.

• The Washington Post: ‘Social Sportsbook’ Apps Are Luring Young Fans — And Raising Alarms
  • In the days leading up to kickoff, users of Fliff, a popular mobile gaming app, placed more than 200,000 “bets” on last weekend’s NFL conference championship games. They bet on Patrick Mahomes throwing for at least 240 yards, on Christian McCaffrey scoring the first touchdown and the usual array of money line, point spread and over-under offerings. They did it, in many cases, without verifying their age or even spending a dollar. That’s because Fliff is not a traditional online sportsbook. It’s a “social sportsbook,” and a pillar of its business model involves users making bets with “virtual currency.”

Iowa

• iGaming Business: Fanatics Replaces PointsBet In Iowa
  • Players in Iowa can now download and place bets on the Fanatics Sportsbook mobile app. Existing PointsBet customers’ username, password, account balance, rewards points and responsible gaming settings will automatically migrate to the Fanatics Sportsbook. The existing PointsBet retail sportsbook at Catfish Bend Casino will also be rebranded as a Fanatics Sportsbook. This project will include installing new self-service betting kiosks from Suzohapp. Iowa marks the 12th state for the Fanatics Sportsbook. It is also the latest phase of FBG phasing out the PointsBet brand across the US following its acquisition of PointsBet US in August 2023.

North Carolina

• WRAL: Sports Betting Companies Start Outreach
  • Sports gamblers in North Carolina can’t place bets or even create accounts with online betting companies yet. But operators already have begun advertising in the state with ads appearing on social media and television. Industry leaders FanDuel and DraftKings placed digital ads announcing their presence in North Carolina over the weekend, and DraftKings will begin television advertising this week. North Carolina regulators announced in late January that sports betting will begin in the state at noon on March 11. Bettors can create accounts and deposit money in them beginning at noon on March 1.

• NC Sharp: Majority Of North Carolinians Favor Casino Expansion, Survey Shows
  • A new poll shows increasing support for commercial casino expansion in North Carolina. A Meredith College poll released on Monday found that 54% of North Carolinians support the legalization of casinos on non-tribal land, while 35% oppose the idea and 9% remain undecided. North Carolina state lawmakers have returned for a shortened legislative session this year after a 2023 session heavily impacted by casino expansion debates. Last year’s session concluded with Senate leader Phil Berger’s proposal to legalize four more casinos fizzling out.

Pennsylvania

• PlayPennsylvania: Gov. Shapiro Includes Pennsylvania Skill Games Regulation In 2024 Budget
  • Governor Josh Shapiro delivered his FY 2024/2025 budget address at the ornate Capitol Rotunda in Harrisburg earlier today. In his budget, Shapiro announced that he plans to regulate Pennsylvania skill games in July. The debate regarding skill games has been ongoing for several years. It appears that we have more clarity than ever. Skill games will not get banned, but rather legally implemented as a taxed form of gambling. There is nothing final as of yet, as this is a proposed budget created by Shapiro. The news is much to the dismay of retail and PA online casinos, which attempted to ban skill games altogether.

West Virginia

• SportsHandle: West Virginia Sportsbooks Open 2024 With 13% Hold For January
  • West Virginia sportsbooks kicked off 2024 in impressive fashion, crafting a hold just shy of 13% for January according to a compilation of weekly figures provided by the West Virginia Lottery. Operators claimed just over $6 million in sports wagering revenue, the seventh-highest total in 65 months of wagering in the Mountaineer State. The bulk of the revenue came from the five mobile sports betting apps tethered to Hollywood Charles Town and The Greenbrier as DraftKings, Fanatics Sportsbook, ESPN BET, FanDuel, and BetMGM combined for close to $5.4 million.

Wyoming

• PlayUSA: Wyoming Becomes Unexpected State To Drop Online Casino Legislation In 2024
  • Perhaps Wyoming is the state that comes out of nowhere to legalize online casino in 2024. An iGaming bill unexpectedly dropped in Wyoming late Tuesday night. Rep. Robert Davis filed HB 120 to authorize and regulate iGaming in the Cowboy State. Wyoming becomes the sixth state with active online casino legislation this year, according to PlayUSA’s bill tracker. Wyoming wasn’t on PlayUSA’s radar when projecting states that would consider online casino legislation in 2024. Last year, another small state, Rhode Island, suddenly introduced online casino legislation and became the only state to legalize iGaming on the year.