Industry News of the Day for July 9, 2020
iDEA Growth Member News:
- CNBC, 7.8.20 – Houston Rockets Owner Tilman Fertitta’s Online Betting Company Is Now Publicly Traded On Nasdaq
- Houston Rockets owner Tilman Fertitta’s new online casino company, Golden Nugget Online Gaming, joins DraftKings as the only other publicly traded purely online casino in the U.S.
- Gambling.Com, 7.9.20 – DraftKings Colorado Retail Sportsbook Going Live Friday
- DraftKings has announced the opening of a temporary retail sportsbook in Colorado at the Mardi Gras Casino in Black Hawk.
- Gaming Intelligence, 7.9.20 – MGM Resorts And GVC Double Down On BetMGM Investment
- MGM Resorts International and GVC Holdings have committed to a second round of investment in their Roar Digital joint venture and its BetMGM sports betting and online gaming platform, bringing the total investment to $450m.
- Online Poker Report, 7.8.20 – Consolidation Both A Blessing And A Curse For US Online Gambling
- Few industries are evolving more rapidly right now than US online gambling. In particular, the 2018 repeal of PASPA and ensuing legalization of sports betting in many states has created a dynamic market that can be hard to keep up with.
Overall Industry News:
- Gambling Compliance, 7.9.20 – Nevada Regulators Approve $17.3bn Eldorado-Caesars Merger (subscription paywall)
- Eldorado Resorts’ $17.3bn acquisition of Caesars Entertainment took another step toward completion on Wednesday when Nevada gaming regulators approved the deal during a two-part hearing that lasted almost four hours.
- PlayIndiana, 7.8.20 – Hold Your Horses: IHRC Report Details Negative View Of Eldorado-Caesars Merger
- Caesars and Eldorado need the approval of Indiana to maximize the value of their proposed merger. At least one regulatory body, the Indiana Horse Racing Commission (IHRC), apparently has little love for Eldorado’s potential acquisition of Caesars.
- PlayNJ, 7.8.20 – SBC Digital Summit Takes Its Sports Betting Talk Online With Virtual Event
- With the pandemic still forcing restrictions on large public gatherings, the SBC Digital Summit North America decided to not cancel the event but host a virtual summit instead. The virtual summit is set for July 14-16.
- PlayUSA, 7.8.20 – PlayUSA Rewind: California Tribes Aim For 2022 Ballot To Legalize Sports Betting
- Another calendar month involving the coronavirus pandemic has been cast to the side.
- SBC Americas, 7.9.20 – FanDuel Secures Exclusive Content Partnership Deal With Pat McAfee
- FanDuel Group has extended its current deal with US sports analyst Pat McAfee to become a distributor of the latter’s content. Under the terms of the deal, the sportsbook operator has been designated as the full category exclusive sports betting, daily fantasy sports, casino, and horse racing provider for Pat McAfee across its platforms.
Sports League News:
- PlayUSA, 7.8.20 – The NBA’s Return Will Provide A Boon For Sportsbook Operators
- Within a month, if all goes to plan, three of the four professional leagues will be back in action. And one of them, the NBA, could produce one of the biggest booms for legalized sports betting.
- SBC Americas, 7.9.20 – PointsBet USA And BetMakers Launch NJ Fixed Odds Horse Race Betting
- BetMakers Technology Group subsidiary BetMakers DNA (BDNA) has signed an agreement with PointsBet USA to begin fixed odds betting on horse racing in the state of New Jersey.
- iGB North America, 7.9.20 – BetMakers Partners PointsBet For Fixed-Odds Racing In NJ
- Sports betting operator PointsBet has agreed a new deal with online wagering solutions provider BetMakers to launch fixed-odds betting on horse racing in New Jersey.
- PlayPennsylvania, 7.8.20 – PA Gaming Review: Gambling Stocks Make Headlines, Tracks Recovering, OTBs Closed
- News in Pennsylvania has recently focused largely on adjustments to the new normal after most casinos and horse tracks re0pened the week before.
- PlayPennsylvania, 7.8.20 – Never Say Never: Mini-Casino License Back Up For Auction In Quest For PA Revenue
- When an auction for a mini-casino license last September failed to attract a bidder at $7.5 million, that was supposed to be lights out on the auctions – forever. At least that’s what the sunset provision in the last auction extension legislation required. But things have changed.
- Penn Bets, 7.8.20 – Door Reopens For Another Possible Mini-Casino Project In Pennsylvania
- A broad budget bill passed by the Pennsylvania legislature in late May quietly included two gambling-related provisions that will lead to another mini-casino auction in addition to a sportsbook at the future Westmoreland County mini-casino.
- Gaming Intelligence, 7.9.20 – Rhode Island Amendment Seeks To Eliminate In-Person Sports Betting Registration (subscription paywall)
- Lawmakers in Rhode Island have proposed amendments to the state’s General Laws to allow individuals to open online sports betting accounts without having to visit a land-based casino.
- Providence Journal, 7.8.20 – RI Sports Betting Could Get Rid Of In-Person Signup
- Rhode Island General Assembly leaders want gamblers to be able to place sports bets on their phones without having to go to a casino first.
- Yogonet, 7.9.20 – Betfred Launches Online And Mobile Sports Betting At Iowa Casino
- Betfred USA Sports mobile and online platform launched Tuesday at Grand Falls Casino & Golf Resort in Larchwood, Iowa.
- Waterloo-Cedar Falls Courier, 7.9.20 – Pandemic Saps Iowa Casino Revenue By About 20 Percent
- Casinos are back to wheeling and dealing — sort of — after the coronavirus knocked them offline for 11 weeks and caused fiscal 2020 revenue to tank by about 20% for the fiscal year that ended June 30.