Industry News of the Day for March 3, 2023

By iDEA | March 3, 2023

Industry News

  • PlayUSA: Here’s What’s Planned For Problem Gambling Awareness Month
    • Every year, the National Council on Problem Gambling (NCPG) and the US gambling industry dedicates March as Problem Gambling Awareness Month (PGAM). This time, the 2023 PGAM campaign theme is “Celebrating 20 Years,” with the following goals: To increase public awareness of problem gambling and the availability of prevention, treatment and recovery services and encourage healthcare providers to screen clients for problem gambling.
  • Legal Sports Report: Kambi Growth Toward Long-Term Goals Could Require Trend Reversal
    • The Kambi management team announced fourth-quarter revenue grew by 30% in its first year-over-year comparison without DraftKings in the numbers. That was one positive called out by CEO Kristian Nylén, who also highlighted multiple contract extensions in the US. Kambi is “on a path toward significant growth” to build toward its 2027 goals, Nylén added on the fourth-quarter earnings call.
  • Sports Handle: U.S. Post-PASPA Sports Wagering Handle Surpasses $200 Billion
    • The sports wagering handle nationwide continues to spiral higher at a near-dizzying pace, with the national amount wagered in the post-PASPA era surpassing $200 billion Thursday. That came after the Colorado Department of Revenue posted January handle totaling more than $547 million. If you blinked, you almost missed the $50 billion wagered across the country from late August through the new year after it took eight or so months for bettors to drop that same amount to get the post-PASPA total to $150 billion.
  • CDC Gaming Reports: Light & Wonder Touts Growth; Fourth-Quarter Revenue Tops Forecasts
    • Year-over-year North American installed base growth and higher average daily revenue per unit pushed fourth-quarter net revenue higher and past Wall Street forecasts for Las Vegas-based cross-platform games company Light & Wonder. In a statement Wednesday, Light & Wonder said its net income was $21 million for the three months ended Dec. 31, down from $62 million a year earlier.

Georgia

  • SBC Americas: Georgia Horse Racing And Sports Betting Bill Defeated In Senate
    • One of the many sports betting bills floating around the Georgia statehouse suffered a defeat in the Senate on Thursday. SB57, the sports betting and horse racing legislation sponsored by Sen. Billy Hickman was defeated by a vote of 19-37. During a committee hearing on the bill, many opposed the element of the bill which would bring regulated horse racing tracks to the state.

Massachusetts

  • Gambling News: Massachusetts Temporarily Allows Affiliate Agreements for Sportsbooks
    • Operators in the Bay State can rest easy after the Massachusetts Gaming Commission (MGC) voted 5-0 to waive some of the restrictions regarding affiliate agreements. The regulator carefully weighed the pros and cons of maintaining the current ban and decided that CPA and revenue-sharing models should exist within its jurisdiction, allowing for proper oversight.

New York

  • PlayNY: Regulators Tighten Up Regulations Surrounding NY Sports Betting Ads
    • The New York State Gaming Commission (NYSGC) held a meeting on Monday and unanimously voted to enact stricter regulations on the types of advertising, marketing and promotions allowed by sports betting operators in the Empire State. As detailed during the NYSGC public meeting, the commission proposed rules to “regulate sports wagering advertising, marketing, and promotion.” Specifically to ease concerns “regarding the advertising and marketing of sports wagering at college and university campuses, and generally regarding promotional language.”

North Carolina

  • PlayUSA: Lawmaker Expects North Carolina Sports Betting By Super Bowl
    • Rep. Jason Saine believes his North Carolina sports betting bill will pass this session. Although he changed little from the bill that shockingly failed by one vote last year, Saine told PlayUSA that education and some new faces in each chamber will make a difference. Saine expects official introduction of the North Carolina sports betting bill Friday.

Tennessee

  • Gaming Today: Fanatics To Open First Mobile Sports Betting App in Tennessee
    • Fanatics’ first mobile sports betting launch will likely be in Tennessee after the company was approved to move forward on Wednesday by the Tennessee Sports Wagering Advisory Council. Fanatics Vice President of Regulatory Affairs Alex Smith was noncommittal when asked by a committee member if the app would debut in time for March Madness, one of the top two most lucrative sports betting fests of the year.
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