Industry News of the Day for January 31, 2024

By iDEA | January 31, 2024

Industry News

  • PlayUSA: Flutter’s Listing On NYSE Will ‘Make Flutter More Accessible To US-based Investors’
    • Fanduel’s parent company, Flutter, kicked off the week by listing its ordinary shares on the New York Stock Exchange (NYSE). Trading commenced yesterday at 9:30 ET, and the company is now identified on the stock exchange by the ticker symbol FLUT. Flutter experienced a 1.4% intraday increase in its share value on the first day of trading. FanDuel emerged as the leading sportsbook in the United States, commanding a 51% market share in net revenue during the fourth quarter of 2023. This performance has attracted the attention of US investors, prompting them to consider acquiring a stake in the international sportsbook.
  • AP News: NFL Says Super Bowl Viewers Will Only See 3 Sports Betting Ads During Broadcast
    • Advertisements for sports betting continue to flood the airwaves, but the NFL said Tuesday that viewers will see only three such ads during the Super Bowl broadcast next month. David Highhill, the NFL’s general manager for sports betting, told reporters there will be one sports betting ad right before kickoff and two others during the game. The league has set limits on in-game sports betting advertising. But sportsbooks have only bought three such ads for broadcast right before and during the Super Bowl broadcast, fewer than the maximum allowed, NFL spokesperson Alex Riethmiller said.
  • Gambling Insider: GeoComply Data Reveals Trends On In-Stadium Betting And NFL Playoff Activity
    • GeoComply has shared data insights on in-stadium online betting during the 2023-24 NFL season and provided an overview of overall online betting activity for the NFL playoffs. Since the NFL Playoffs commenced, GeoComply has reported a 24% increase in geolocation transactions and a 12% rise in active user accounts compared to the previous season.  During the recent conference championship games, there was a notable surge, with a 35% increase in geolocation transactions and a 13% increase in active user accounts compared to the same stage in the previous season. Analyzing the entire 2023-24 NFL regular season, Paycor Stadium, hosting the Cincinnati Bengals, led in on-site geolocation transactions with an average of 67,000 transactions per game.
  • Gambling News: PointsBet Posts Record-Breaking Q2 Results In Canada And Australia
    • PointsBet has published its Q2 report, posting record net win in both Australia and Canada. The company’s spots betting activities continued to underpin the results as both handle and net win increased. However, the biggest growth was recorded by PointsBet’s iGaming vertical. Taking a look at how PointsBet performed in Australia, the company posted total net win of AUD 59.5 million ($39.15 million in USD, current rates). This figure, according to the company, represents a 3% year-on-year increase from the prior-year period. At the same time, the company’s marketing expenses in the region decreased by 33%. Improved efficiency also led to a smaller gross win percentage from promotions.

Georgia

  • Legal Sports Report: Promising Georgia Sports Betting Bill Moves Forward Tuesday
    • A Georgia sports betting with bipartisan backing took a promising step forward Tuesday. The Senate Economic Development & Tourism Committee advanced the Georgia sports betting bill, SB 386, 8-2 Tuesday morning. The bill would legalize sports betting in the Peach State with up to 16 licenses and now goes to the Senate Rules Committee. Sen. Clint Dixon, the bill’s primary sponsor, said it is a bipartisan bill with nearly as many Democratic co-sponsors as Republicans. That could be a key component as the political divide has killed the issue the past few years. “[The] bill has real legs,” an industry source on the ground said following the vote. “Bipartisan support. [Lt. Gov. Burt Jones] working hard for it.”
  • SBC Americas: PrizePicks Encourages Georgia Lawmakers To Add DFS To Betting Bill
    • Georgia lawmakers are already diving into the discussion when it comes to potentially legalizing sports betting in the state. On Tuesday, the Senate Economic Development and Tourism Committee voted 8-2 to advance SB386, a sports betting bill from Sen. Billy Hickman which would legalize the venture under the lottery and not require a constitutional amendment. The committee did provide a friendly substitute for the bill to tweak some of the elements. The notable changes are a jump from a 15% to 20% tax rate and a provision that does not allow for credit card deposits. Another draft could be forthcoming if PrizePicks can persuade lawmakers to include language that would codify and regulate fantasy sports in the state.

Indiana

  • PlayIndiana: Bet365 Launches Indiana Operation, Becomes 13th Online Sportsbook
  • Sports bettors in the Hoosier State now have another option for an online sportsbook. Bet365 entered the Indiana market Tuesday morning, making it the 13th online sportsbook in the state. It’s the eighth state in which the European sportsbook operates. The operator already had a U.S. presence in Kentucky, Louisiana, Virginia, Ohio, New Jersey, Iowa and Coloardo. “At Bet365, we don’t do ordinary, and as the home of the country’s first professional baseball game, ‘The Greatest Spectacle in Racing,’ and a rich basketball history, neither does Indiana,” said a Bet365 spokesperson in a statement.

Maine

  • Bonus.com: Maine iGaming Bill Tabled But Not Dead In Unanimous Committee Vote
    • Maine could still see online casino gambling legalized in 2024. However, the Maine iGaming bill is on hold for at least two weeks while the state’s gaming regulators, stakeholders, and bill critics work out the details in a proposed amendment discussed on Jan. 29 in a committee. Around 2:45 p.m. on Jan. 29, members of the Joint Standing Committee on Veterans and Legal Affairs voted unanimously to table LD1777. The bill outlines rules allowing Maine’s tribes to offer legal online casino gambling. The committee work session that began at 10:30 a.m. included a lengthy review of the Maine iGaming bill and its opposition before discussing the proposed amendment.

North Carolina

  • NC Sharp: Cherokee Tribe And Caesars Extend Partnership, Offer NC Online Sports Betting
    • Caesars Entertainment Inc. and the Eastern Band of Cherokee Indians have cemented their existing relationship by agreeing to team up for online sports betting in North Carolina, the two companies announced today. The sports betting operator Caesars will offer Caesars online Sportsbook in NC via a license agreement procured through the Cherokee tribal nation. Caesars has deals in place to operate retail sportsbooks at two Harrah’s casinos in the state: Harrah’s Cherokee Casino Resort in Cherokee and Harrah’s Cherokee Valley River Casino & Hotel in Murphy.

Pennsylvania

  • PlayPennsylvania: FanDuel Sportsbook Is Most Recognized Brand In Keystone State Study
    • FanDuel is one of the most distinct gambling apps available in the market. Betting Hero, a customer research company, conducted a study in Pennsylvania, which found the following results about FanDuel: Most popular brand, most popular app, and highest levels of retention. FanDuel has dominated PA online sportsbooks in handle and revenue since launching in 2019. Betting Hero’s study dives into what people think and know about FanDuel. The study included 121 highly engaged individuals between the ages of 18 and 55. Of those respondents, 71% bet at least once a week, on average actively using 1.8 apps.
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