Industry News of the Day for January 29, 2024

By iDEA | January 29, 2024

Industry News

  • Mashable: X Will Soon Integrate Sports Gambling Stats From BetMGM
    • Elon Musk’s X, formerly known as Twitter, is going to begin integrating sports gambling. That doesn’t mean you’ll be placing bets on the app, though. X is set to display gambling stats via a partnership with BetMGM, Fortune reported. Details on the deal were scarce, but according to Fortune, X will display betting info via MGM’s sports betting division and then provide a link to the gambling platform. As the sports blog Awful Announcing pointed out, MGM is the third-most-popular sports gambling app — behind DraftKings and FanDuel — and already has big partnerships with platforms like Yahoo and the baseball YouTube show Foul Territory.

Colorado

  • PlayColorado: ‘A Platform Where Winners Are Welcome:’ Novig Eager To Launch Sports Betting Exchange
    • If Novig is able to get approval from Colorado regulators – which could happen within the next few months – the New York-based sports betting startup will be able to offer Colorado sports fans a completely different kind of betting experience. While the just-launched Novig platform offers some great advantages to bettors in its current online sportsbook format, company founder Jacob Fortinsky is excited about what’s possible should the app relaunch as a true sports betting exchange.

District of Columbia

  • Gaming Today: Washington DC Sports Betting Revenue Declines In December
    • The December handle in Washington DC totaled $15.3 million, reflecting a decrease of 18.2% compared to the $18.7 million recorded in Dec. 2022 and a 10.5% decline from the $17.1 million reported in Nov. 2023. The gross gaming revenue for December amounted to $2.5 million. This figure represents a 4.2% increase from the $2.4 million reported in December of the previous year and a substantial 108.3% surge from the $1.2 million recorded in November. From the performance of individual operators in the DC market for December, Caesars maintained its leading position. In the month, the operator generated $889,481 in revenue from a total of $5.3 million in sports bets, compared to the November figure of $6.1 million in wagers.

Georgia

  • SBC Americas: Second Georgia Sports Betting Bill Would Bypass Voter Referendum
    • A second bill that aims to legalize sports betting in the state has been filed with the legislature. SB386, sponsored by a number of lawmakers including Sen. Billy Hickman, proposes to put sports betting under the purview of the lottery and amend the existing Georgia Lottery for Education Act to include sports betting. This approach would not include a voter referendum, as the lawmakers behind the bill say it would not be expanding existing gambling law, just amending it. The amended law would establish the Georgia Lottery as the regulator and overseer of sports betting and could allow as many as 16 online sportsbook licensees into the state.

Maryland

  • PlayMaryland: Maryland Senator Files Online Casino Bill. Here’s What Happens Next
    • Maryland Senator Ron Watson, who has authored online casino legislation in previous years, filed two bills in the last week of January related to iGaming. The first bill, Senate Bill 565, would allow Maryland residents to vote on iGaming in November. The second bill is Senate Bill 603, which would legalize Maryland online casinos if voters approved the first piece of legislation. While an increase in tax revenue is something most state governments are fond of, there are concerns raised in an iGaming study that will need to be solved first.

New York

  • PlayNY: Lawmakers Introduce Bills To Crack Down On ‘Predatory’ Bonuses From NY Sportsbooks
    • Companion bills in the New York Assembly and Senate have once again emerged, addressing what lawmakers call “predatory sportsbook bonuses.” Assemb. Nader Sayegh and Sen. Peter Harckham introduced matching legislation within their respective chambers recently, as they look to direct the New York State Gaming Commission to crack down on NY sports betting offers. Specifically, the two legislators cited terms such as “deposit matching” and “risk-free betting,” as well as “free money,” “free bets,” “site credits” and “profit boosts.”

North Carolina

  • NCSharp: Game On As Operators Hope To Be Approved For March 11 NC Sports Betting Launch
    • Now that a March 11 online sports betting launch date is set, operators who have applied for sports wagering licenses must clear several down-the-stretch hurdles if they want to be ready to accept bets on opening day. “We’ve built our infrastructure. We’ve put together a regulatory framework from scratch, and we assembled a team,” Sterl Carpenter, the NCLC’s deputy director of sports betting, said. “To be sure there is still much to do, and we will always be working to improve our processes as they mature. But with this proposed authorization, we are telling the public that we are ready for sports wagering.

Texas

  • SportsHandle: Las Vegas Sands Views Texas As ‘Unbelievable Market’ For Casino Expansion
    • Nearly a month has passed since the NBA approved the sale of the Dallas Mavericks to the Adelson and Dumont families in a move that may bolster the chances of casino legalization in Texas. The jaw-dropping purchase that conferred the majority stake of the Mavs to Dr. Miriam Adelson and Patrick Dumont could result in the completion of a large casino-resort in the Dallas-Fort Worth area. Adelson, the widow of late Las Vegas Sands (LVS) mogul Sheldon Adelson, and Dumont gained a controlling interest in the Mavericks in a transaction that valued the franchise at approximately $3.5 billion.
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