Industry News of the Day for January 17, 2023
iDEA Growth Member News
- Legal Sports Report: GeoComply Submits ‘Damning’ Third-Party Report In Xpoint Lawsuit
- The latest twist in the GeoComply lawsuit against Xpoint concerning a geolocation patent involves a scathing third-party report on Xpoint. On Monday, GeoComply submitted in federal court a 16-page PowerPoint reportedly written by yet-to-launch sportsbook Out The Gate‘s COO, Lee Terfloth, in June.
- Forbes: U.S. Set Gambling Record In 2022 With More Than $54.9 Billion In Revenue
- Americans gambled away a record-breaking amount of money in 2022. The nation’s casinos and mobile gaming apps rang up a record $54.93 billion in revenue during the first 11 months of 2022. With one month still being tallied, 2022 has already smashed the $53.04 billion record by 13.5%, according to data collected from state regulators by the American Gaming Association.
- Gaming Today: California, Florida, Texas Are Legal Sports Betting Deserts, Stranding 28% Of American Population
- Four 40-somethings from Arizona sidle up to Splash Bar in the center of the casino floor. Business is late-afternoon brisk on a Thursday here at Morongo Casino Resort on the eastern reaches of the Inland Empire. The Rams and Raiders are about to kick off about 90 miles west in Inglewood, and bar seats near the televisions behind the bourbon shelf are filling in quickly.
- PlayMaryland: Maryland Casino Revenue Down In December Despite 2022 Record
- Maryland casino revenue took a year-over-year hit in December, as the state’s six locations totaled $165.2 million in revenue (-4.5% YoY). For the year, however, Maryland casinos topped $2 billion in revenue — a new record.
- iGB North America: Mississippi Makes Latest Attempt To Legalize Online Sports Betting
- A bill that would permit online sports betting in Mississippi has been read in the state House and referred to the House Gaming Committee. This marks the fifth attempt by lawmakers to introduce online sports betting in the state. The latest attempt was in January 2022. Retail sports betting was made legal in Mississippi in 2018.
- SBC Americas: New York Bill Proposes Problem Gambling Warnings & Hotline In Advertising
- A new bill has been introduced in New York which would demand all gambling and sports betting advertisements in the state to contain messaging about potential harms as well as a hotline number. Senate Bill S1550 was brought forth to the state’s Senate Committee for Racing, Gaming, and Wagering on Jan. 12.
- US Bets: Saks Fifth Avenue Proposes Casino Atop Its Manhattan Store
- Retailer joins crowded list of entities looking to nab one of New York’s three downstate licenses. The Hudson’s Bay Company, owner of the Saks Fifth Avenue department store chain, has joined the competition to build a casino in New York City, proposing this week that it convert the top three floors of its Midtown Manhattan store to a high-end casino.
- WRAL-TV: North Carolina Teams, Venues Now Want Their Own Sports Gambling Licenses — A Change From Previous Legislation
- Supporters of legalizing online sports gambling are confident they have the votes to pass a bill this session, just months after failing by a single vote on the House floor. However, a coalition of North Carolina professional sports teams — big backers of legalization — are seeking changes that would aid their bottom lines but could splinter the stakeholder group that has supported legislation for nearly three years.
- The Dallas Morning News: Texas House Speaker Open To Bringing Destination-Style Casinos To State
- House Speaker Dade Phelan is open to bringing resort-style casinos to Texas. In a brief interview with reporters Thursday, the Beaumont Republican said he believes voters would approve the constitutional amendment needed to expand gambling in the state.