Industry News of the Day for January 23, 2023

By iDEA | January 23, 2023

iDEA Growth Member News

  • SBC Americas: Catena Media Anticipates ‘Strong’ North America Gains In Q4 Results
    • Catena Media expects its North American operations to show “strong” signs of year-over-year improvements when it declares its fourth-quarter financial results next month. Publishing its preliminary results for Q4 2022 ahead of its year-end report on Feb. 22, Catena declared that it anticipates its North American market revenue to grow by 31% YoY to $23.4m (Q4 2021: $17.8m).

Industry News

  • Sports Handle: High-Tech Solutions Help Sportsbooks Respond To Data Breaches
    • Weeks after thousands of DraftKings customers fell victim to a comprehensive data breach on the weekend before Thanksgiving, the company provided additional details about a massive cyberattack that has rocked the sports betting industry. In many respects, DraftKings identified a method of intrusion that cyber experts suspected from the outset.
  • SBC Americas: Fanatics In Talks To Buy betPARX After Maryland Retail Launch
    • Fanatics is attempting to boost its online sports betting capabilities by pursuing an acquisition of betPARX sportsbook, according to reports. As first reported by CNBC, the merchandising company, which has in recent months expanded into the betting and gaming space, has entered talks to acquire betPARX from Greenwood Gaming & Entertainment.

Arizona

  • Arizona Casinos: Arizona October Betting Handle Breaks $600 Million for Second Time
    • Arizona’s Department of Gaming reported $618.6 million in handle for October. This is the state’s second-highest handle total in 14 months of legal betting. It trails slightly behind the $691 million from March 2021, which was the first time wager was available in Arizona for March Madness.  Arizona’s sports betting handle was up 15% for the month compared to September’s total of $538 million. It was also up 27.3% from the $486 million bets placed in October 2021.

California

  • PlayCA: New Cardrooms Can Open In California After Nearly 30 Years
    • A moratorium on new cardrooms in California expired on Jan. 1, 2023. For the last 28 years, new card rooms were barred in The Golden State. While there are numerous cardrooms across California, especially in casinos, online poker in California is still prohibited. Players can get around the regulation by playing sweepstakes or social games. With the moratorium gone, anyone can now open new California cardrooms as long as they adhere to state and local laws. They also must obtain a license.

Iowa

  • PlayUSA: Iowa Online Casino 2023 Legislative Preview
    • Iowa online casino legalization is not expected to get serious consideration in Des Moines in 2023. Wes Ehrecke, executive director of the Iowa Gaming Association, tells PlayUSA that with 50-some new legislators bringing in new priorities, online casino legislation doesn’t stand a chance in Iowa this year. Ehrecke said that legislative leaders have expressed that this is not the year for online casino. Some of the priorities for the new-look Iowa legislature include tax cuts, gun rights and private school scholarships.

Massachusetts

  • iGB North America: Caesars Enters Sports Betting Partnership With Massachussetts’ Raynham Park
    • Caesars Entertainment has partnered with Massachusetts’ Raynham Park to open a retail sports betting facility there, pending approvals, after the racing center ended its ties with Bet 365. Caesars will operate a 30,000-square-foot retail location at a 13-acre site, with construction set to be completed during H2 2023.

Michigan

  • PlayMichigan: Michigan Online Casinos Bring In Record $152.8 Million In Revenue In December
    • Michigan online casinos recorded a third consecutive record month of revenue with $152.8 million in December. That’s a 5.1% increase from November’s previous record of $145.4 million. For all of 2022, Michigan online casinos tallied $1.58 billion in revenue, a whopping 42.1% increase from 2021’s $1.11 billion.

New York

  • PlayNY: Addabbo Reintroduces Bill To Authorize NY Sports Betting Kiosks At Stadiums
    • Sen. Joe Addabbo has reintroduced a Senate bill that would allow online sportsbooks in New York to accept wagers on fixed-odds horse racing as well as install self-service betting kiosks at sports stadiums and arenas. The proposal comes a year after Addabbo introduced a similar bill in 2022 that never gained traction and died in committee.

Pennsylvania

  • PlayPennsylvania: Fanatics Sets Sights On BetParx Sportsbook Acquisition For Pennsylvania Entry
    • On the day the sports apparel company made its official debut in the legal sports betting industry, Fanatics is making more headlines. The company reportedly is looking into purchasing BetParx Sportsbook, which is owned by the parent company of Parx Casino in Bensalem. Currently, the two sides are just having discussions about the potential sale; however, Fanatics did sign a letter of intent to buy the online sportsbook.

 

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