Industry News of the Day for February 8, 2019

iDEA Growth in the News:

• The Detroit News, 2.7.19 – Opinion: Michigan should legalize online gambling (J. Ifrah authored article)
  • In late December, Michigan residents came close to having a great reason to celebrate during the holiday season: state lawmakers had passed a long-awaited bill to legalize online gaming in the state, sending the bill to the Governor’s desk.

Federal News:

• USA TODAY, 2.7.19 – Department of Justice shouldn’t end online gambling to appease Trump donor Sheldon Adelson
  • Most decisions made by the Department of Justice are made to protect the long-term integrity of the institution. Policy changes are not made swiftly and can often take decades to implement.
• Washington Post, 2.7.19 – Justice Department decision to issue legal opinion long sought by casino magnate Sheldon Adelson draws criticism
  • The Justice Department’s decision last month to release a legal opinion that could further restrict Internet gambling is drawing fire from state attorneys general and former department officials amid questions about casino magnate Sheldon Adelson’s long-standing push for the move.
• Play NJ, 2.7.19 – New Jersey And Pennsylvania Voice ‘Strong Objections’ To Recent DOJ Wire Act Reversal
  • Since the Department of Justice released its new opinion on the Wire Act last month, we have barely heard much response from the Garden State. That all ended Tuesday afternoon when the Attorney General Gurbir S. Grewal issued a press release stating that the new opinion is “wrong” and “deeply troubling.”

Industry News:

• Legal Sports Report, 2.7.19 – Sports Betting Legislative Lasso: Wanted, Dead Or Alive
  • Welcome back for another weekly tour through the capitols of states that are fiddling with sports betting legislation. Some, of course, are fiddling more diligently than others.

New York:

• Legal Sports Report, 2.7.19 – New York Stuck In 20th Century Without Online Gambling, Says Key Lawmaker
  • With Gov. Andrew Cuomo warning that New York revenues are $2.3 billion below projections, Sen. Joseph Addabbo Jr. is calling for a three-year plan to expand NY gaming — including online poker and full-scale online gambling — that would maximize revenue to the state.
• Legal Sports Report, 2.7.19 – Key Lawmaker Fears NY Sports Betting Hopefuls Will Become Jersey Boys
  • State Senator Joseph Addabbo Jr. is concerned that NY sports betting is falling behind as New York City residents become accustomed to wagering in New Jersey.
• Play USA, 2.6.19 – MGM Approved For $850 Million Purchase Of Yonkers, New York Casino
  • MGM Resorts International has closed its deal to purchase the Empire City Casino in Yonkers, New York. MGM is paying $850 million for the property, which includes the building itself and nearly 100 acres of land.

Iowa:

• Des Moines Register, 2.7.19 – Iowa lawmakers are writing a whole new bill on sports betting after debates this week
  • Lawmakers debated four bills to legalize sports betting this week, and none of them are going anywhere. Instead, legislators will use the hours and hours of discussions this week about proposals to legalize and regulate sports betting in Iowa as the basis for an as-yet-unwritten new bill that will go through the same process all over again.

Missouri:

• Louis Public Radio, 2.7.19 – Will Sports Betting Be Missouri’s Answer To Shrinking Revenue?
  • Missouri’s budget director announced this week that revenues are down 7 percent compared to last year. While that may change as more people file their taxes, lawmakers are looking for new ways to bring in money while faced with tax cuts they instituted on top of growing expenses for health care, infrastructure and education.

Rhode Island:

• Sports Handle, 2.7.19 – In-Person Registration At Issue As Rhode Island Advances Mobile Sports Betting
  • Despite concerns about requiring in-person registration for mobile sports betting from senators and industry representatives, Rhode Island’s Special Legislation & Veterans Affairs Committee voted unanimously on Wednesday to send a mobile sports betting bill to the full Senate for a vote.
• AP, 2.7.19 – Move To Legalize Mobile Sports Betting Advances In Rhode Island
  • A bill to allow mobile wagering for sports betting in Rhode Island cleared its first legislative hurdle and is headed for a floor vote.
• WPRI, 2.7.19 – Lawmakers weigh expanding sports betting to mobile devices
  • Legislators considering whether to allow sports fans to wager on games from a mobile app heard arguments for the expansion and concerns about it on Thursday, in a hearing that was focused in part on efforts to help problem gamblers.
• WPRI, 2.7.19 – Officials refuse to say how big sports betting weekend impacted the state
  • A spokesperson for the Department of Revenue said Tuesday the state’s two casinos believe they lost approximately $2.3 million on bets related to Super Bowl LIII.

South Dakota:

• CardPlayer, 2.7.19 – Sports Betting In Deadwood Moves One Step Closer To Reality
  • Wild Bill Hickok was infamously shot in Deadwood, South Dakota in 1876 during a poker game. Now, 143 years later, the city has sports betting on the mind. On Wednesday morning, Senate Joint Resolution 2 passed by a narrow 5-4 margin in the Senate State Affairs Committee move to the Senate floor.

Virginia:

• Local DMV, 2.7.19 – Virginia could become another state to legalize sports betting
  • Virginia could be the next state to legalize sports betting in the country. The state’s Senate passed a bill that could lead to sports betting as well as allow land-based casinos to open in Virginia.

Indiana:

• KPVI, 2.7.19 – Big win for Gary land-based casino proposal in first Indiana Senate committee hearing
  • Spectacle Entertainment unveiled plans Wednesday to construct a $300 million boutique casino, including a 200-room hotel, along the Borman Expressway in Gary, if the General Assembly permits the Majestic Star to move off its Lake Michigan dock.

New Jersey:

• Legal Sports Report, 2.7.19 – CG Grabs Final Online NJ Sports Betting License At Meadowlands Racetrack
  • Meadowlands Racetrack struck a deal with an embattled Nevada operator for its third and final online NJ sports betting license.
• NJ Gambling Sites, 2.7.19 – Ocean Resort’s Bad Start: $23 Million In The Red And Regulatory Compliance Issues
  • The latest news surrounding Ocean Resort Casino is rather alarming. According to published reports, through its first seven months of operation, the company is $23 million in the red. Even worse, Ocean is not meeting compliance guidelines. The latter problem dates back to November 2018.

Sports League News:

• ESPN, 2.8.19 – NCAA to consider buzzer-beater reviews during tournament; no final decision
  • The NCAA on Friday said that a committee examining sports wagering will consider whether buzzer-beaters during the NCAA tournament should be reviewed, clarifying the idea as it was presented Thursday.
• The Lines, 2.8.19 – The NCAA Might Finally Stop Pretending Sports Betting Doesn’t Exist
  • Neither shot was reviewed… because the team leading still won. Understand, though, that the NCAA has long opposed legalized sports betting, citing the industry’s potential impact on the “integrity” of college basketball games. Seems like it has its own integrity issues.

Overall Industry News:

• Reuters, 2.7.19 – Turner Sports inks deal with Caesars for Bleacher Report betting content
  • The broadcaster Turner Sports announced an agreement with casino operator Caesars Entertainment Corp on Thursday to develop sports-betting content and open a Bleacher Report studio inside one of Caesars’ Las Vegas casinos.
• Online Poker Report, 2.7.19 – Penn National Introduces New Executive For Online Gambling, Sports Betting
  • Penn National Gaming announced this week that Jon Kaplowitz will be taking over as Senior VP of Interactive Gaming. He’ll replace Chris Sheffield, who departs for another opportunity after three years at the helm.