Industry News of the Day for June 17, 2022

By iDEA | June 17, 2022

Industry News

Louisiana

  • Sports Handle, 6.17.22 – Louisiana Sports Wagering Operators Record Historic Rout In May
    • It was a Bayou beatdown by sports wagering operators across Louisiana in May, as the house claimed nearly $25.7 million in winnings and posted a staggering 15% win rate for all wagers. This was according to the state police, which tracks such matters.

Maryland

  • Legal Sports Report, 6.16.22 – No Online Maryland Sports Betting Timeline Despite Heat From Hogan
    • Despite pressure from Gov. Larry Hogan, regulators still provided no timeline for the launch of online sports betting in Maryland. The Sports Wagering Application Review Commission (SWARC) met Thursday and provided some updates that show progress, but no definitive timeline for online sports betting in Maryland. The meeting also included a response from SWARC Chairman Thomas Brandt to the governor, who published a letter Wednesday urging an online launch by Sept. 8.

Michigan

  • SBC Americas, 6.17.22 – Michigan online gaming generates over $160m in May revenue
    • While most state gambling coffers are slumping with the slowing of the sports calendar, Michigan online gambling had a solid month of revenue thanks to another month of strong online casino performance. Online casino and poker sites in the state generated just over $127 million, down slightly from the record $132.4 million posted in April. Year-over-year, the figure represents a 34% increase from 2021. Industry growth has been relatively flat for the past three months.
  • gov, 6.16 – Michigan internet gaming and sports betting operators report combined $160.9 million May total gross receipts
    • Michigan commercial and tribal operators in May reported a combined $160.9 million total gross internet gaming receipts and gross sports betting receipts. Receipts declined by 1.4% compared with April results.
  • Play Michigan, 6.16.22 – Michigan Online Sports Betting Numbers See Expected Drop In May; Online Casinos Have Another Strong Month
    • It was a predictably quiet month for Michigan sportsbooks in May, reporting a total handle of $356.1 million. While a 10% decrease from April, it’s still a 38% increase from May of 2021. Michigan online casinos and poker sites stayed strong, but did dip slightly from April’s record month. Internet gaming generated $127.4 million in revenue, falling 3.8% from the Michigan record $132.4 million last month.
  • MI Bets, 6.16.22 – Michigan’s Online Casinos Shock The World By Not Setting Another Monthly Record
    • Stop the presses: The Michigan online casino market has finally failed to break a monthly record in gross receipts, something that had been happening with alarming regularity throughout the year.
  • MI Bets, 6.16.22 – Handle At Michigan Online Sportsbooks Takes Downward Turn In May
    • The sports betting dead zone was in full bloom this past May in Michigan, with total online sports betting handle dropping to a hair under $333.4 million for the state’s 15 mobile sportsbooks. That marked the lowest monthly number since last September’s $354.2 million, according to figures released by the Michigan Gaming Control Board.

New Jersey

  • Play NJ, 6.17.22 – NJ Sports Betting Takes A Step Back In May With $766 Million In Bets
    • New Jersey sports betting didn’t have the best month of May. The Garden State’s sportsbooks accepted slightly over $765 million in bets, which is around $160 million shy of April’s production.
  • Legal Sports Report, 6.16.22 – Are NJ Sportsbooks Really Shielded From New York Cannibalization?
    • The NJ sports betting market continues to face questions about cannibalization from New York, and May data did not help to clarify the situation. New Jersey sports betting handle fell 17% month-on-month to $766 million. However, sportsbooks enjoyed a very healthy 8% hold rate on that handle, helping them to $62 million in revenue. That marked a 25% increase over April, per the state report.

North Carolina

  • The Mountaineer, 6.17.22 – North Carolina lawmakers try to bring back bill to legalize, regulate mobile sports gambling
    • North Carolina lawmakers are reportedly reviving an effort to legalize and regulate mobile sports betting before the current short session concludes in two weeks. House Majority Whip Rep. Jon Hardister, R-Whitsett, told Axios he believes the lower chamber will soon move legislation he sponsored, House Bill 631, to legalize online sports betting in North Carolina similar to a bill approved by the Senate last fall. (John Pappas)

Pennsylvania

 

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