Industry News of the Day for March 25, 2024
Industry News
- Gambling Insider: Michael Hermalyn Of Fanatics Responds To DraftKings Litigation
- Fanatics’ Michael Hermalyn has contested DraftKings’ legal accusations regarding his move from the latter to the former. Allegations include the accusation that Hermalyn acted as a ‘double agent,’ for Fanatics – stealing data and secrets from DraftKings with evidence of him downloading documents on a non-DK device. Hermalyn strenuously denies the accusations, claiming that he never solicited employees to join Fanatics and – in fact – on one occasion encouraged an employee to stay with DraftKings. Further, Hermalyn details that DraftKings does not issue company phones and that he had simply used his personal phone to transfer documents and data related to the company.
Alabama
- AP News: Alabama Gambling Bill Faces Uncertain Outlook In Second Half Of Legislative Session
- Legislation to start a state lottery — and possibly allow casinos and other gambling devices — faces an uncertain outlook in the Alabama Statehouse because of divisions over sports betting and the number of casino sites. Sen. Greg Albritton said lawmakers still have time to get a bill approved but only if they are willing to compromise. Senate Minority Leader Bobby Singleton estimated there’s a 60% chance that lawmakers get a bill approved before the session ends in May.
Maine
- PlayUSA: Maine Sports Betting Revenue Sees Double-Digit Decline In February
- Maine sports betting hasn’t been able to find solid ground the past two months. The latest data from the Maine Gambling Control Unit shows that the four federally recognized tribes in Maine generated $33.73 million in February, down 11.56% compared to Maine sports betting figures in January 2024. Sports betting launched in Maine in November, so there isn’t any year-on-year data for the spring and summer. That being said, the next few months of gambling data will be interesting. March typically provides a healthy revenue boost for sportsbooks because of the NCAA men’s and women’s tournaments.
Mississippi
- iGaming Business: Mississippi Sports Betting Market Shrinks In February
- Players spending on sports betting reached $31.4m (£24.6m/€28.7m) in February. This was 21.1% down from $39.8m in Mississippi last year and some 45.1% behind January’s $57.2m spend. For February, revenue in Mississippi amounted to $2.3m. The Commission said this was 25.8% lower than the $3.1m reported in February 2023 and 65.7% less than $6.7m in January this year. Breaking down these figures by casino location, coastal venues remain the most popular with players when it comes to sports betting.
Missouri
- Legal Sports Report: Missouri Orders Fantasy Sports Operators To Stop Pick’em Games
- The Missouri Gaming Commission sent a memo to licensed fantasy sports operators in the state this week, directing them to cease and desist offering against-the-house pick’em contests. The memo, obtained by LSR, is dated March 19 and sent from Missouri Gaming Commission general counsel Nikki D. Evans. It states only peer-to-peer fantasy sports pick’em contests are allowed under state law. Evans explains in the memo that player vs. house fantasy contests too closely mirror sports betting parlays under state rules. “The Commission has maintained that fantasy sports contests pursuant to Missouri law are those that are peer to peer and not subject to the operator being the winning participant,” the memo reads.
New York
- SBC Americas: New York Mobile Sports Betting Handle Tops $40B
- New York has become the second state to surpass $40 billion in legal sports betting handle. The New York Gaming Commission reported $445.3 million worth of bets placed for the week ending March 17. That is the highest figure since the week before the Super Bowl and the second time in three weeks that the state has seen over $40 million in profits. It’s also the 22nd time out of the last 23 weeks that New York mobile sports betting has taken $400 million in wagers. New York’s week-over-week numbers saw total handle rise by 1.9% and revenue jump 8.8%.