Industry News of the Day for June 22, 2023

By iDEA | June 22, 2023

iDEA Growth Member News

  • Gambling News: Better Collective Posts Updated Financial Targets For 2023
    • The fast-growing digital sports media group, Better Collective, released a new trading update Wednesday, confirming a change in its financial targets throughout the rest of the year. The recent announcement acknowledges the positive momentum gained by the company from the first quarter of 2023 that helped supercharge its performance in the second quarter as well.

Industry News

  • Legal Sports Report: NCAA Sports Betting Probes Related To Iowa Schools Sparked By Unusual Logins
    • US Integrity founder and CEO Matt Holt explained to LSR recently that increased sportsbook login activity during non-gameday events was the impetus for the NCAA betting probes into student-athletes at the University of Iowa and Iowa State University. The recent NCAA sports betting investigations show that student-athletes of legal age should stay away from sports wagering apps, at the very least, until they return home from practice.
  • SBC Americas: Bally Bet Temporarily Shuddering Books In Preparation For Shift To Kambi
    • In preparation for the shift to a Kambi-powered sports betting platform, Bally Bet is temporarily ceasing operations in most states where it offers online sports betting. Bally’s inked the deal with Kambi and White Hat to provide platforms for the company’s online sportsbook and casino operations respectively in early May.
  • CDC Gaming Reports: The United States Igaming Revenue Report – May 2023
    • An overview of igaming revenue in Pennsylvania, New Jersey, Michigan, Connecticut, West Virginia, and Delaware, the only six states where online gambling is legal in the U.S. Total igaming revenue for May in the six states where it’s legal added up to $528 million, a flying leap of 23.8% over May 2022’s total of $402.1 million.

Florida

  • PlayFL: Florida Sports Betting Case Could Reshape Tribal Gaming Across US
    • The Seminole Tribe in Florida is awaiting a decision from the DC Circuit Court of Appeals that is unlikely to end the standoff over Florida sports betting. The disagreement over Florida’s tribal-state gaming compact’s legality could snowball into a US Supreme Court case that could reshape tribal gaming across the US. Florida Gov. Ron DeSantis signed a tribal-state compact in 2021 that allowed the Seminole Tribe to offer online sports betting in Florida on and off tribal land.

Kentucky

  • PlayKentucky: Kentucky Regulators Will Vote On Sports Betting Rules In ‘Early July’
    • Kentuckians will have a chance to see their state’s sports betting regulations soon. The Kentucky Horse Racing Commission held a meeting Tuesday afternoon. Chairman Jonathan Rabinowitz started the meeting with a Kentucky sports betting update. At the end of his update, Rabinowitz said the initial drafts of the regulations were written. They will be available on the KHRC’s website in the next few weeks.

Maryland

Massachusetts

  • PlayMA: $24M In One Month: How MA Sportsbooks Are Hurting New Hampshire Handle
    • The first few months of sports betting in Massachusetts may be having an impact on the amount of money being wagered in New Hampshire. For the month of May, total sports betting handle in New Hampshire declined by $24 million compared to last May. Online sports betting in Massachusetts launched on March 10, meaning unlike last year, Bay State bettors no longer have to cross state lines in order to place their wagers.

Michigan

  • PlayMichigan: Michigan Sports Betting Sees 14% Year Over Year Drop With $305 Million Wagered In May
    • Sports betting in Michigan saw a notable decrease in handle from one year ago. Three commercial sportsbooks and 15 online sportsbooks combined for $305.3 million in handle. That was down 9.7% from April and 14.2% from May 2022. Online sports betting accounted for $288.3 million in handle, the lowest mark since August of last year, which was $218.8 million.

North Carolina

  • NC Sharp: Meet The Team Charged With Launching, Regulating NC Sports Betting
    • An air of excitement is sweeping through the state as bettors will soon be able to wager on all kinds of sporting events, from professional to collegiate. Gov. Roy Cooper signed House Bill 347 into law last week, making online sports betting in North Carolina a reality. The bill passed with bipartisan support in the General Assembly. It puts the North Carolina Lottery Commission in charge of sports betting.

Ontario

Pennsylvania

  • iGB North America: NeoGames to power PlayLive! online casino in Pennsylvania
    • Online gaming and lottery provider NeoGames announced today that its igaming subsidiary Aspire Global will power the Cordish Companies PlayLive online casino. Under the new agreement, PlayLive! will move to NeoGames’ suite of PAM, CRM aggregation and data analytics products by 2024. When the site initially launched, the business announced that California-based igaming supplier GAN would provide the igaming solutions for the casino.
Posted in Daily Clips