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Industry News of the Day for June 26, 2019

Industry News of the Day for June 26, 2019

Pennsylvania:

West Virginia:

  • Play WV, 6.25.19 – WV Sports Betting Revenue Is Like A Seesaw; One Week Up, One Week Down
    • West Virginia sports betting is not doing so well. An additional sluggish week at WV sportsbooks led to another drop in handle and a terrible showing in terms of revenue. The legal sports betting market in WV has become stagnant due in large part to the lack of an online sportsbook.

Illinois:

  • AP, 6.24.19 – Holcomb Monitors Illinois’ New Casino, Marijuana Laws
    • Indiana casinos will compete effectively against a slew of new casino sites in Illinois, the state’s governor said. Gov. Eric Holcomb called gambling an “uber-competitive industry” after lawmakers in both states approved the legalization of sports betting this spring, the (Northwest Indiana) Times reported.

Indiana:

  • Indianapolis Business Journal, 6.25.19 – Caesars Set To Update All Indiana Facilities For Sports Betting
    • Caesars Entertainment Corp. plans to update its Winner’s Circle off-track betting facility in downtown Indianapolis, as well as its casinos in Shelbyville, Anderson and other Indiana properties, in preparation for the legalization of sports gambling later this year.

Washington, D.C.:

Mississippi:

iDEA Growth Member News:

Overall Industry News:

  • Online Poker Report, 6.25.19 – Caesars And Eldorado To Combine Assets, Forge New US Sports Betting Empire
    • The $18 billion mega-merger of Caesars Entertainment and Eldorado Resorts will have an impact that extends far beyond the two companies. Of note for our purposes, the new company is poised to disrupt the young US sports betting landscape.
  • Legal Sports Report, 6.25.19 – What The Caesars Merger With Eldorado Means For US Sports Betting
    • Reuters reported over the weekend that Caesars agreed to merge with Eldorado Resorts in a debt-laden deal valued at $17.3 billion. Eldorado confirmed the “transformational” union Monday via a press release.
  • Yahoo! Finance, 6.25.19 – One Big Topic Was Missing From The Eldorado-Caesars Mega-Merger Call
    • Eldorado Resorts, owner of 26 casinos, is buying Caesars Entertainment for $8.6 billion in cash and stock, plus assumption of Caesars’ debt, in a deal that will create the largest casino company in America. And on a celebratory merger call on Monday to tout the deal, there wasn’t a single mention, by Eldorado or Caesars brass, of sports betting or the NFL.