Industry News of the Day for July 22, 2022

By iDEA | July 22, 2022

iDEA Growth Member News

  • SBC Americas, 7.22.22 – Kindred have ‘confidence’ in future despite significant Q2 headwinds
    • Kindred Group has published its financial results second quarter and half-year of 2022, reporting significant year-over-year drops in total revenue and profit after tax in both measuring periods. However, CEO Henrik Tjärnström has noted that despite the “seasonally low period of activity as sports leagues end,” and the tough yearly comparatives with Euro 2020 taking place last summer, he looks forward “to the future with confidence,” as he sees “good progress with the Group’s key strategic priorities”.
  • SBC Americas, 7.22.22 – IGT PlaySports’ versatility and scalability evidenced in FanDuel sportsbooks’ retail expansion
    • As a B2B sports betting supplier, IGT PlaySports is continuing to demonstrate its versatility and status as one of the US market leaders, notably via its ongoing collaboration with industry titan FanDuel. [Garreth Core, FanDuel sportsbook Director of Product]
  • Legal Sports Report, 7.21.22 – FanDuel To Create 24/7 Sports Betting Network Through Rebranded TVG
    • FanDuel is aiming to rebrand its TVG racing channel to FanDuel TV as part of a plan to create the first ‘watch and wager’ TV network in the US, including a potential big-name acquisition in former NFL Network host Kay Adams.

Indiana

Louisiana

Maryland

  • Legal Sports Report, 7.22.22 – How Close Is Online Maryland Sports Betting To Launching?
    • Online Maryland sports betting took a recent step forward, but there is still no timeline for launch. At its meeting last week, the Sports Wagering Application Review Commission advanced Maryland online sports betting draft regulations and applications. The drafts move on to a legislative review committee and a 30-day public review period.

Michigan

  • Legal Sports Report, 7.21.22 – Michigan Sports Betting Industry Slogs Through June
    • The summer doldrums are in full effect in Michigan sports betting. Michigan sportsbooks handled $292.4 million in June bets, according to a Michigan Gaming Control Board report released this week. The total is an 18% drop from the $356.1 million operators took in May.

Pennsylvania

  • Penn Bets, 7.21.22 – Sports Betting Just Declined In Pennsylvania In A Rare Way
    • June stood out in one very unusual way for Pennsylvania’s sportsbook operators: They took less betting action than they did in the same month a year earlier. That decline from a $420.2 million June 2021 betting handle to $393.5 million last month — shown in the latest revenue report from the Pennsylvania Gaming Control Board — was uncharacteristic but not unprecedented. A year-to-year monthly decline occurred once before, but for an extraordinary circumstance.
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