Industry News of the Day for March 31, 2023

iDEA Growth Member News

• EGR North America: Last Day To Enter The ​​​​​​Ifrah Pitch Competition! ​​​​​
  • Ifrah Pitch invites start-ups to submit a 500-word description as well as a short video or PowerPoint presentation about their business or product for the chance to win a cash injection of $5,000, the opportunity for 5 hours of legal consultation with Ifrah Law and a feature in EGR North America. We welcome all types of companies and all verticals from across the gaming market. Click here to enter!

• Gambling News: Kambi Reports Growth In 2022, Continues To Expand Product Reach
  • The premium provider of sports betting services to licensed business-to-customer gambling operators, Kambi, released its latest annual financial report, outlining the company’s performance in 2022, highlighting important achievements and outlining plans for the future. Released Thursday, the new report shows that Kambi’s revenue in 2022 hit €166.0 million ($181 million).

Industry News

• SBC Americas: XL Media Targeting Rev Share Model Despite Regulatory Pushback
  • XL Media CEO David King has outlined that the company is becoming increasingly focused on securing rev share deals in North America in 2023, despite that particular model of business coming under pressure from regulators. Addressing investors as the publisher and affiliate firm posted its financial results for 2022, King stated the majority of its revenue comes from CPA deals, but that it would like to try to secure the long-term revenues that rev share models afford affiliates.

• The Wall Street Journal: Conference Board Survey: 37% Of Americans Say Their Betting Habits Will Wane. But Travel Will Increase
  • Strong labor markets have helped keep consumers upbeat about the economy. But some Americans seem to feel their luck is running out. 37% of consumers say they plan to spend less on gambling and lottery games over the next six months, according to the Conference Board’s latest survey, while 10% say their gambling habits will increase.

Colorado

• Legal Sports Report: PointsBet, University Of Colorado End College Sports Betting Partnership
  • PointsBet is exiting its advertising partnership with the University of Colorado, a spokesperson with the sportsbook told LSR Wednesday. The decision is not related to the American Gaming Association‘s recent decision to prohibit college sports betting partnerships under its marketing code, per the spokesperson. PointsBet is not an AGA member.

Georgia

• PlayUSA: Georgia Legislative Session Concludes Without Legalizing Sports Betting
  • Georgia sports betting legislation got a lot of action this year. But none of it happened on the final day of the session. The Georgia legislative session ended late Wednesday without addressing sports wagering. It’s the third year in a row that Georgia sports betting legislation has generated hope only to fizzle at the end of the session.

Illinois

• WAND-TV: Illinois Senate Passes Bill Addressing Sports Betting Addiction
  • The Illinois Senate approved a plan Wednesday to help people who may become addicted to mobile sports betting. Senate President Pro Tempore Bill Cunningham (D-Chicago) said his proposal requires sports betting companies to display a message to people at least once every hour noting how much money they have wagered since logging on.

Massachusetts

• PlayMA: Betr House Rules Approved, One Step Closer To Massachusetts Launch
  • In a public meeting on Thursday morning, the Massachusetts Gaming Commission voted unanimously to approve house rules for Betr, paving the way for that company to launch its sportsbook in the state in the future. The MGC also received a report from its Investigations and Enforcement Bureau on the recent news of a crypto currency scam that involved Betr co-founder Jake Paul.

Michigan

• PlayMichigan: MGCB Chair Linda Forte On Women’s Growth In The Gambling Industry
  • Along with being Problem Gambling Awareness Month, March is also Women’s History Month. In the growing gambling industry, more opportunities are opening up for women in roles of leadership. Linda Forte serves as the Michigan Gaming Control Board Chair and has been in the position since July of 2021. As the gaming industry continues to expand, we asked Forte how opportunities are opening up for women and how they can put themselves in position to succeed.

Ontario

• PlayCanada: One Year In, Operators Assess The Legal Ontario Online Gambling Market
  • Ask six Ontario online casino, poker and sports betting operators their take on the province’s legal online gambling market and there’s one thing on which they agree: Ontario has one of the most competitive gaming markets on the continent. April 4 marks the first anniversary of the province’s open market. One year in, there are 46 live operators in the province, offering more than 70 total gambling sites.

South Carolina

• Sports Handle: South Carolina Digital Wagering Bill Passes Subcommittee
  • South Carolina’s House Ways and Means Revenue Policy Subcommittee moved forward an amended digital sports betting bill Thursday, marking the first time that lawmakers in the Palmetto State have taken action on legal wagering. The bill will now go to the full Ways and Means Committee.