Industry News of the Day for January 10, 2023

By iDEA | January 10, 2023

iDEA Growth Member News

  • Legal Sports Report: Bet365 Spending To Expand Sports Betting
    • UK-based bet365 is one of the biggest sports betting operators in the world, but it is still spending significantly to expand. The company filed its annual report for fiscal 2022 ending March 27 last week, though there is little actual data. The biggest news was the fact that administrative costs jumped $382.2 million compared to fiscal 2021.

Industry News

Hawaii

  • Play USA: New Gambling Legalization Bill Coming To Hawaii House
    • Hawaii was among the US states that had no form of legal gambling. But hopefully, that is about to change. Rep. John Mizuno announced that he would introduce his Sports Gaming Bill on Jan. 9 to Hawaii’s Legislature. He believes it is better to introduce a Hawaii gambling bill, discuss options and, eventually, keep the money that gambling brings within the state.

Illinois

  • Play Illinois: Illinois Casino Revenue Nearly Hit Pre-Pandemic Levels In 2022
    • Illinois casinos produced total adjusted gross revenue of nearly $1.348 billion in 2022. The figures, released this week by the Illinois Gaming Board, also show casinos have nearly returned to normal after two difficult pandemic years that led to casino closures. Casino revenue is down just 0.4% from the 2019 total of $1.354 billion. That was the last year where figures were not impacted by the COVID-19 pandemic.

Kentucky

  • US Gaming Review: KY Lawmakers Make Fresh Push for Online Poker, Sports Betting
    • For the fourth year in a row, lawmakers will try to get online poker & sports betting in Kentucky legalized. But the effort will need more support this year and will need backing by March 30. During the closing days of last year’s legislative session in Kentucky, supporters of a bill to allow online sports betting cautioned that if their legislation faltered, the state would be leaving money on the table for its neighbors — most of which already have legal online sportsbooks.

Maine

  • Legal Sports Report: Remember Maine Sports Betting? Proposed Rules Set For Release
    • The seemingly dormant process to launch Maine sports betting is set to take a significant step forward this week. The Maine Gambling Control Unit announced Monday it will release the proposed rules for ME sports betting Wednesday. Gambling Control Unit Executive Director Milton Champion will also make a public statement Wednesday.

Nebraska

  • SBC Americas: Nebraska Introduces Bill To Legalize In-State College Sports Betting
    • Nebraska may not have launched its regulated sports betting market yet, but the state’s lawmakers are already pushing to make amendments to its legislation to include in-state college sports wagering. Current state law regarding sports betting allows for wagering to take place at racino operators so long as it’s not on in-state collegiate teams.

New York

  • Play NY: First Year Of Online NY Sports Betting Leads To Nearly $700 Million In Tax Revenue
    • New York opened 2022 with $1.6 billion in handle. Fittingly, the state closed with it as well. With $1.62 billion in accepted bets, the 10th month exceeding $1 billion, NY sports betting ended its first year of legal action with $16.2 billion in handle. That easily sets the biggest single-year total since the US Supreme Court authorized state-regulated sports betting in 2018.

Pennsylvania

  • iGB North America: Bet365 to enter Pennsylvania with CDI deal
    • Bet365 is set to expand into Pennsylvania, having entered an online sports betting and igaming market access deal with Churchill Downs Incorporated (CDI) subsidiary Presque Isle Downs & Casino. The agreement, CDI said, is consistent with its strategy to exit the online sports and casino business, with the operator seeking to monetize its online sports and igaming market access rights and focus on growing the TwinSpires online horse racing wagering business.

 

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