Industry News of the Day for January 4, 2024
Industry News
- PlayUSA: Conference Brings Legislators, Regulators Together Over State Gaming Issues
- Crafting gambling legislation can be a daunting task for any state lawmaker. Getting it passed can be even harder. But for nearly 30 years, the National Council of Legislators from Gaming States has brought lawmakers together with regulators and industry leaders to discuss how their states can keep pace with advancing technology in an ever-changing gaming environment. This week NCLGS makes a homecoming of sorts, holding its biannual conference in Fort Lauderdale, Florida, the hometown of the man who created NCLGS in 1995.
- SBC Americas: Checkd Group Envisages Market Consolidation And Increased Innovation In 2024
- 2023 was a mammoth year for US sports betting, with two new operators entering the market, over $2bn being wagered in New York in one month alone and key states like Ohio and Massachusetts launching regulated online betting markets. As the industry welcomes in the new year, there is much anticipation about what 2024 will bring. Undoubtedly competition for the top spots in state markets will intensify as ESPN BET and Fanaticsramp up their operations.
- The Globe and Mail: The House Always Wins, Which Makes Casino Stocks A Good Bet
- There’s an old and irrefutable saying: “The house always wins.” It refers to the fact that casinos and online betting sites consistently make money, while gamblers almost always end up losing sooner or later. A 2013 study by The Wall Street Journal estimated that 13.5 per cent of players that go to physical casinos come out ahead. Few of those lucky chaps had winnings of more than $150, which is the approximate price of a one-night at a two-star hotel on the strip. The study included a sample of 4,222 players. Only seven players, or slightly less than 0.2 per cent, made more than $5,000. However, 217, or nearly 5 per cent, lost more than $5,000.
California
- Sports Handle: California AG Clears Way For Commercial Wagering Proposal To Move Forward
- California’s attorney general’s office late Tuesday issued titles and summaries for a pair of commercial sports betting initiative proposals, clearing the way for backers to begin gathering the 874,641 signatures needed to get on the November ballot. Proponent Kasey Thompson and his group will likely need to collect 1 million or more signatures by June in order to ensure that enough are valid or qualified. Thompson, of Eagle 1 Corp., said his group will only move forward with one of the proposals.
Florida
- CDC Gaming Reports: State Lawmakers To Consider Igaming Expansion At Florida Conference
- The prospect of igaming expansion and regulations needed to oversee it will highlight a gaming conference that convenes state lawmakers from around the country and kicks off Thursday in Fort Lauderdale. About 300 people are expected to attend, including lawmakers and regulators representing 29 states, along with gaming-industry executives. A year ago when the National Council of Legislators from Gaming States met in Las Vegas, there was hope that igaming would expand beyond the six states where it’s legal.
New Jersey
- PlayNJ: Wazdan Continues To Expand NJ Online Casino Footprint With PlayStar Partnership
- Another online casino in New Jersey has tapped into the library of Wazdan. The Malta-based games provider expanded its NJ online casino footprint by entering into “a pivotal collaboration” with PlayStar, according to a press release. The partnership will see Wazdan integrate titles via the Light & Wonder platform, allowing New Jersey online casino players another avenue in which to enjoy Wazdan’s wide array of award-winning games. “Our growth in New Jersey has been extremely positive for us, and we’re delighted to be partnering with our latest operator in the state,” Andrzej Hyla, chief commercial officer at Wazdan, said in a statement.