Industry News of the Day for January 30, 2023
- Legal Sports Report: Business By The Books: Early Insight On Sports Betting Earnings
- Earnings season for year-end reports from 2022 is underway, with three calls related to sports betting scheduled for this week. There has already been a peek into some sports betting earnings, though, thanks to debt refinancing from Caesars and a BetMGM update. This week’s calls: PointsBet at 5 pm Eastern Monday, PENN Entertainment/Barstool Sportsbook at 9 am Thursday, and Boyd Gamingat 5 pm Thursday.
- PlayUSA: Could Diamond Sports’ Bankruptcy Mean Opportunity For Gambling Companies?
- The inevitable seems to have finally happened. The cost of paying for traditional broadcast rights for dozens of professional sports properties has outweighed the revenue brought in by that product, resulting in a possible Diamond Sports bankruptcy. While that might not seem to have much to do with the gambling industry on its face, one prominent player in that space could have some decisions to make. Additionally, the results of the bankruptcy restructuring could open some doors for gambling companies to swoop in.
- US Bets: PredictIt Lives To Fight For Another Day, At Least For Now
- Here’s a prediction you can lock down, mostly because the courts say so: The PredictIt political prediction market can continue operating – at least for the time being. On Thursday, the beleaguered prediction market was given what amounts to a stay of execution when the Fifth Circuit Court of Appeals issued an injunction while it continues to ponder the future of the operation. Previously, the Commodities Futures Trading Commission (CFTC) had ordered the New Zealand-based operation to shut down by Feb. 15.
- SBC Americas: Massachusetts Establishes Voluntary Self-Exclusion Program For Sports Betting
- The Massachusetts Gaming Commission (MGC) has established a voluntary self-exclusion (VSE) list, specifically to help sports bettors control their gambling. With sports betting set to launch in the state on January 31, the MGC is expanding its VSE options beyond the current program for casino players which has been around since the first casino opened in the state in 2015.
- PlayNJ: Atlantic City Casinos Upping The $1B Investment Ante In 2023
- The Casino Association of New Jersey (CANJ) sees Atlantic City as a “world-class resort destination.” The plan requires significant investments from all nine Atlantic City casinos. When visiting Caesars and Bally’s, you can’t help but notice where the combined $300 million is being spent. According to a CANJ press release, AC casinos have invested over $1 billion dollars into the marketplace over the past several years.
- PlayOhio: Ohio Sportsbooks Could Take $82.6 Million In Super Bowl Bets; Fifth-Most In US
- The Cincinnati Bengals fell short of a second-consecutive Super Bowl appearance, but the budding Ohio sports betting market is primed to enjoy an early boost thanks to the Mecca of all sports betting events. Only six weeks into legal sports betting, Ohio is set to rank among the biggest Super Bowl betting states in the country, according to new projections from PlayOhio.
- Legal Sports Report: Embattled Intralot Late Delivering Ohio Sports Betting Kiosks
- The shortcomings for Intralot in the US continue to spread to new states, this time affecting the launch of Ohio sports betting for lottery retailers. Last week, local outlet WKRC-TV reported the frustration of one Cincinnati bar owner who expected to offer OH sports betting through an Intralot kiosk when sports betting in Ohio went live Jan. 1. Instead, nearly three weeks into the market, Erik Richman said he is still waiting, disappointing customers that arrived at his bar expecting to place bets after months of advertisements leading up to the launch.
- ABC27 News: Pennsylvania Lawmaker Proposes Legalizing Esports Betting
- A Pennsylvania lawmaker says he plans to propose the legalization of esports betting. In a memo to House colleagues, State Representative Ed Neilson (D-Philadelphia) says Pennsylvania should “quickly add esports to our gaming portfolio.” According to Rep. Neilson, a multi-million dollar facility is being constructed in Philadelphia dedicated to eSports events such as video game tournaments.