Industry News of the Day for June 11, 2020
iDEA Growth Member News:
- The Washington Post, 6.10.20 – One Byproduct Of eSports Betting? A Crackdown On Cheating (Ifrah Law)
- With covid-19 shuttering both casino floors and traditional sports arenas, Nevada and other states have leaned into esports as a viable alternative to keep betting windows open.
- PlayUSA, 6.10.20 – PlayUSA Rewind: CO Sports Betting’s May Revenue Reflects Impressive First Month
- In what would normally be a down time of the calendar year, summer 2020 holds the potential to be significant for legalized sports betting.
Overall Industry News:
- Axios, 6.9.20 – Sports Bettors May Be A Driving Force Behind The Stock Market Surge
- Professional investors have largely abandoned the stock market amid the coronavirus pandemic, but sports bettors and bored millennials have jumped into the retail stock trading market with both feet.
- Legal Sports Report, 6.10.20 – Why Investors Are So Eager To Place Their ‘BETZ’ On New Stock Fund
- Investors looking for access to the online betting and gaming industry have a new option thanks to a new sector-specific ETF.
- CNBC, 6.10.20 – Thematic Investing Is A Growing Trend In ETFs, Researcher Says, As Sports Betting Fund Launches
- Another new exchange-traded fund launch has experts pointing to a growing trend in the ETF market: the rise of thematic investing.
- Gambling Insider, 6.11.20 – Virtual Sports: Here To Stay?
- The suspension of live sports has opened the door for virtual sports to thrive. Gambling Insider takes a look at why it’s the perfect vertical to fill the void and if it can sustain its growth.
- SBC Americas, 6.11.20 – Newgioco Forms Elys Subsidiary To Expand US Sports Betting Drive
- Sports betting technology firm Newgioco Group has completed the formation of Elys Gameboard Technologies LLC, a wholly owned subsidiary for the purpose of expanding its US sports betting operations.
- PlayPennsylvania, 6.10.20 – The Wait Is Over: First Casinos Now Open In Pennsylvania, And They Didn’t Disappoint
- Allegheny County, home of Rivers Casino Pittsburgh reached the green phase of the state’s three-tiered plan on June 5 that allows casinos to reopen.
- PlayPennsylvania, 6.10.20 – Wind Creek And BetFred Sports Betting Get The Green Light In PA
- Wind Creek Bethlehem is officially on its way to offering online and retail sports betting in PA.
- PlayMichigan, 6.10.20 – Michigan Regulators ‘Cautiously Optimistic’ For 2020 Launch Of Internet Gambling
- Michigan casino operators will receive the second drafts of internet gambling rules this week. State regulators are “cautiously optimistic” to see online gaming launch in Michigan this year.
- Sports Handle, 6.10.20 – Illinois Gaming Board Releases Casino Reopening Protocols
- The Illinois Gaming Board released its casino reopening protocols Tuesday, offering cleaning and social distancing guidelines to the 10 casinos across the Land of Lincoln.
- Associated Press, 6.10.20 – Sponsors Of Ohio Sports Betting Bill Optimistic On A Deal
- Efforts to legalize sports betting in Ohio have made halting progress more than a year after bills were introduced in the House and Senate, although sponsors of the conflicting legislation believe a deal can be reached.
- PlayIndiana, 6.10.20 – May Handle Grows To $37M As Indiana Reopens Casinos
- Hoosier bettors wagered about $37 million throughout the month, giving May 2020 one of the lowest handles in the state’s sports betting history.
- SBC Americas, 6.11.20 – May Sports Betting Up For Indiana But Short On $160M Estimates
- Modest improvements at Indiana’s sportsbooks in May fell significantly short of clawing back what was potentially circa $160m worth of bets according to estimates from analysts at PlayIndiana.
- iGB North America, 6.10.20 – Indiana Sportsbook Market Returns To Growth In May
- Sportsbook stakes in Indiana rose 41.9% month-on-month in May, as players shifted to betting on sports beyond the US major leagues.
- Sports Handle, 6.10.20 – Oklahoma Tribes Get OK From Feds For Sports Betting, But Opposition Remains
- A unexpected event involving sports betting occurred in Oklahoma on Monday when two new tribal-state compacts in Oklahoma were “deemed approved,” when the U.S. Department of the Interior’s 45-day window to review the compacts expired.
- SBC Americas, 6.11.20 – BetConstruct USA Partners With The Iowa Tribe Of Oklahoma
- BetConstruct USA has announced the launch of its Mobile Social Casino System with the Iowa Tribe of Oklahoma.
- Gambling Compliance, 6.11.20 – As Nevada Casinos Reopen, Economic Damage Expected To Endure (subscription paywall)
- As Nevada’s gaming industry continues its phased reopening, market-watchers remain cautiously optimistic about the industry’s ability to rebound from a shutdown that lasted almost three months.
- Online Poker Report, 6.10.20 – California Dreamin’: Tribes Say Cardrooms Still A Deal-Breaker For Expanded Gambling
- In recent years, more liberal states have generally been more inclined to consider gambling expansion in the US. And yet California, perhaps the country’s most left-leaning state, always seems to face an uphill climb.
- PlayCA, 6.10.20 – Tribal Casinos Seek More Time For Ballot Initiative That Could Redefine Sports Betting
- Even if the California Legislature is successful in amending the state constitution to legalize sports betting this fall, the legal framework may not exist for long. A new tribal sports betting lawsuit could lead to future changes.