Industry News of the Day for June 2, 2020

iDEA Growth Member News:

• Legal Sports Report, 6.1.20 – The Mystery Of DraftKings Stock Prices Soaring While Sports Are Shut Down
  • DraftKings is now a $12 billion market cap company.

Industry News:

• Legal Sports Report, 6.1.20 – The Week In Sports Betting News: California Raisin’ Hopes Again
  • It’s starting to look like the sports we love might actually return at some point this summer. Both the NBA and NHL have floated plans that would see the leagues returning in either July or August.
• Legal Sports Report, 6.2.20 – Parent Company Of FanDuel, Fox Bet Raises $1 Billion For US Expansion
  • While the coronavirus pandemic has led to short-term discomfort for sports betting companies, the parent company of FanDuel and Fox Bet sees another angle: opportunity.
• Digiday, 6.2.20 – TheScore CEO John Levy On Why Sports Betting Is Going Mainstream
  • Sports media and betting are on their way to being inextricably intertwined.

Sports League News:

• PlayUSA, 6.1.20 – Horse Racing Industry Hopes To Sustain Newfound Momentum As Events Return
  • And with COVID-19 keeping sports contested by humans off their fields of play, the chief executive officer of the National Thoroughbred Racing Association earnestly hopes one of the United States’ original sporting passions can extend a moment it has inherited since major professional and college sports went dormant in mid-March.
• Fox Business, 6.1.20 – NASCAR Fans Could Return From Coronavirus Pause Later This Month: Report
  • NASCAR is aiming to host race events with a limited number of fans in attendance as soon as this month as part of its ongoing response to the coronavirus pandemic, according to a report Monday.

New Jersey:

• NJ Online Gambling, 6.1.20 – NJ Governor Finally Hints At An Atlantic City Casino Reopening Date
  • After several leading fellow Democrat elected officials have expressed frustration in recent days over a lack of specifics from Gov. Phil Murphy about timelines for various reopenings, the New Jersey governor on Sunday offered a target date for Atlantic City’s casino industry for the first time.
• PlayNJ, 6.1.20 – Atlantic City Casinos Prepare To Reopen For July Fourth Weekend, We Think
  • The doors to AC casinos may still be locked, but a lot of prep work is being done behind the scenes.
• Gambling.Com, 6.1.20 – Playtech Secures New Jersey Sports Betting Market Approval
  • Gambling software company Playtech has gained entry to the lucrative New Jersey sports betting market and plans to launch this year.

Pennsylvania:

• PlayPennsylvania, 6.1.20 – When Do PA Sports Return? Summer Could Be Big For Sports Betting
  • The sports world that went into hibernation during the coronavirus pandemic is preparing to emerge from its slumber this summer.
• Penn Bets, 6.1.20 – A Return To Normalcy, But On No Set Date, Is In Sight For PA Casinos And Tracks
  • Pennsylvania officials have provided the first authorization for casinos and racetracks to begin reopening, but no specifics were yet being offered Monday morning on when that will occur.

New York:

• Sports Handle, 6.1.20 – NYS Gaming Commission Extends Deadline On Gaming Market Study
  • Citing the unprecedented impact of the COVID-19 pandemic on the gaming environment in the Empire State, the New York State Gaming Commission announced Monday that it has granted an extension to Spectrum Gaming Group for the submission of a closely watched state gaming-market study.

Rhode Island:

• Providence Journal, 6.1.20 – Judge Rules Sports Gambling Constitutional In RI
  • A Superior Court judge has denied former Providence mayoral candidate Daniel Harrop’s request for an injunction to stop sports betting in Rhode Island.

Washington, D.C.:

• The Washington Post, 6.1.20 – D.C. Sports Gambling Gets Off To A Rocky Start, But City Agency Says It’s ‘Working As Intended’
  • Technical issues continued to plague GambetDC, Washington’s online entry to the legal sports gambling market, over its first weekend of operation.
• SBC Americas, 6.1.20 – Intralot On Plans For Sports Betting In Washington D.C.
  • Having already congratulated the DC Lottery on its sports betting launch, lottery supplier INTRALOT has announced that 2021 will see it launch its own digital sports betting solution in Washington DC.

Virginia:

• Gambling Compliance, 6.2.20 – Virginia Lottery Director Talks Sports Betting, Casino Rollout In Transformed Gaming Market (subscription paywall)
  • In just a few short months, Virginia transformed from a state with only a state lottery in its gaming portfolio into one with legalized sports betting, online lottery gaming, and up to five new casinos.

Michigan:

• PlayMichigan, 6.1.20 – Four Winds Rethinks What A Casino Should Look Like In The Wake Of COVID-19
  • Four Winds aims to open all four facilities by June 15. How those properties will look function during a pandemic was the main topic on Thursday during a webinar.
• PlayMichigan, 6.1.20 – Four Hours After Reopening, Michigan Casino Had A Positive COVID-19 Patient Inside
  • An individual who later tested positive for COVID-19 was in a Michigan casino about four hours after it reopened on Friday.

Ohio:

• Cincinnati Business Courier, 6.1.20 – Sports Betting Passes In Ohio House (subscription paywall)
  • Legalized sports betting took a major step forward Thursday when the Ohio House passed a bill to legalize gambling on sporting events in the state.

Indiana:

• PlayIndiana, 6.1.20 – Amidst Concerns About Integrity, IGC Pulls Russian Table Tennis Off The Board
  • Hoosiers can no longer bet on Russian table tennis. From now on, every table tennis market in Indiana will have to come from member countries of the International Table Tennis Federation or European Table Tennis Union.

Nevada:

• Online Poker Report, 6.1.20 – Why Is There So Much Secrecy Around Nevada Online Poker Revenue?
  • Online poker was one of the few forms of gambling available during April, with all 989 US casinos closed by the coronavirus pandemic.

California:

• Sports Handle, 6.1.20 – California’s Latest Sports Betting Proposal Facing Stiff Headwinds
  • California lawmakers last week laid out what they must think is a fair sports wagering compromise — legal sports betting at Indian casinos and horse racetracks, legal statewide mobile sports betting, and no more lawsuits from the state’s tribes against local card rooms.
• iGB North America, 6.1.20 – CA Tribal Body Attacks Cardroom Concession In SCA 6
  • The California Nations Indian Gaming Association (CNIGA) has criticised language legalizing player-banked games at the state’s cardrooms in the sports betting bill put forward by Assemblymember Adam Gray and Senator James Dodd.
• US Bets, 6.1.20 – California Takes Major Step Toward Sports Betting, But High Hurdles Remain
  • By far the nation’s largest untapped sports wagering market is now on the table for more serious consideration.

Oregon:

• Sports Handle, 6.1.20 – Oregon Lottery Considering Adding Virtual Sports For Sports Wagering
  • Oregon sports betting regulators could become the latest to add virtual sports to their menu of available betting options, following a handful of other states seeking a way to boost wagering options during the novel coronavirus pandemic.