Industry News of the Day for March 17, 2022

iDEA Growth Member News: 

• Play USA, 3.16.22: DraftKings Deal To Acquire Golden Nugget Gaming Nearing Completion 
  • According to Jason Park, CFO of Draftkings, the company’s acquisition of Golden Nugget Gaming ($GNOG) is fast approaching. In addition to this, DraftKings views its NFT platform, Marketplace, as its next big revenue generator. 
• Legal Sports Report, 3.16.22: Bet365 Making Ontario Sports Betting Switch From Gray Market 
  • A major operator in the gray market of Ontario sports betting appears poised to transition to the regulated market. 
• Online Poker Report, 3.16.22: FanDuel Comes Out $14 Million Ahead In 2021, Becoming First Major US Brand To Turn A Profit
  • Without much fanfare, FanDuel achieved in 2021 something its major competitors have yet to accomplish. It turned a profit.

Overall Industry News: 

• Play USA, 3.15.22: Midwest Gaming Continues To Set Records, Setting Stage For Big March 
  • The Midwest sports betting market continues to thrive as Illinois, Indiana, and Iowa report big numbers to kickoff 2022 – and yes, Super Bowl betting was a big part of that success. 

New Jersey: 

• Play NJ, 3.16.22: Bettors Pour Nearly $1 Billion Into New Jersey Sportsbooks In February 
  • New Jersey’s online and retail sportsbooks took in nearly $1 billion in wagers in February even as revenue dropped significantly. 
• Legal Sports Report, 3.16.22: NJ Sportsbooks See Handle Drop But Is It New York’s Fault? 
  • NJ sportsbooks reported a decline in handle and revenue in February, but that should not immediately be attributed to New York. 

Maryland: 

• Legal Sports Report, 3.17.22: Maryland Sports Betting Disparity Study Finally Active 
  • A key process to launch mobile Maryland sports betting has begun, but regulators still have plenty of work ahead of them. 
• Sports Handle, 3.16.22: Important Maryland Sports Betting Disparity Analysis Begins 
  • For weeks, the Maryland Sports Wagering Application Review Commission (SWARC) has waited for updates related to a disparity analysis before moving forward with the launch of legal mobile sports betting. Thursday, the SWARC revealed that the disparity analysis is underway. 

Delaware:  

• Play USA, 3.15.22: 2021 Online Gambling Revenue Ranks First In The First State 
  • Delaware celebrated the 234th anniversary of becoming the first state to ratify the United States Constitution in 2021, but that isn’t the only thing it celebrated. 2021 was also the best year yet for Delaware online gambling revenue. 

Iowa:  

• IGB, 3.16.22: Iowa Sports Betting Dashboard- February 2022 
  • Land-based and online sports betting gross gaming revenue (GGR) and handle fell month-on-month in Iowa, but improved compared the same month in 2021. 

Kentucky:  

• WKU Radio, 3.16.22: Sports Betting Bill Passes Kentucky House Committee 
  • Using your smartphone to wager on sporting events would be legal in Kentucky under a bill that passed unanimously out of a state House committee Wednesday. 
• US Bets, 3.16.22: Kentucky Sports Betting Bill Advances Out Of House Committee 
  • A bill that would legalize sports betting, poker, and fantasy sports advanced out of Kentucky’s House Standing Committee on Licensing, Occupations, and Administrative Regulations Wednesday and could be voted on Thursday, according to the main sponsor of the bill. 
• Legal Sports Report, 3.17.22: Kentucky Sports Betting Bill Enters Crunch Time 
  • A Kentucky sports betting bill is back in familiar territory. 

Minnesota: 

• Legal Sports Report, 3.16.22: Minnesota Sports Betting Bill Opponents Want Fewer ‘Losers’ 
  • A Minnesota sports betting bill continues to roll on even as opposition mounts. 
• Sports Handle, 3.16.22: Minnesota Wagering Bill Continues March Through House 
  • It took two meetings of the same committee on the same day to get to a vote, but late Tuesday the Minnesota House State Government Finance and Mobile Committee voted 7-5 to advance an amended sports betting bill that could ultimately allow for statewide mobile wagering. 

Arkansas:  

• KNWA, 3.16.22: Mobile Sports Betting Expected To Generate Millions For Arkansas 
  • If March Madness is not exciting enough, people can now put a little extra on the game from anywhere in the state. 

Ohio:  

• Action Network, 3.16.22: Ohio Sports Betting Rules Advance, Launch Still on Track for End of Year 
  • The latest round of Ohio sports betting rules were unanimously approved Wednesday by regulators, keeping the state on pace to launch by late 2022. 

Michigan: 

• Play MI, 3.17.22: Wagering At Michigan Sportsbooks Expectedly Slows In February While Online Casinos Set State Revenue Record 
  • Michigan’s online and retail sportsbooks took in nearly $425 million in wagers in February, but it still marked the first month-over-month drop in handle since July 2021 as sports betting hit its expected post-football lull.