Industry News of the Day for March 4, 2024
Industry News
- PlayUSA: MGM Resorts And BetMGM Bolster Problem Gambling Initiatives With Kindbridge
- March is problem gambling awareness month; hence, it has seen a spree of various initiatives tailored towards this goal from US gambling operators. Among these operators are MGM Resorts and BetMGM, which announced reinforcing a partnership with Kindbridge. Kindbridge Research Institute and Kindbridge Behavioral Health are organizations specializing in offering therapy and treatment tailored to address gaming and gambling issues. Their expertise extends beyond these specific concerns to include a wide range of behavioral challenges, including mental health services.
- SportsHandle: Sporttrade Announces Responsible Gambling Partnership With Behavioral Health Provider
- On Monday, the sports betting operator Sporttrade and Birches Health, a New York-based behavioral health services provider that offers online counseling and other resources to gambling addicts, announced a responsible gambling partnership that will find Birches Health’s information and services prominently featured on Sporttrade’s betting app. The announcement coincides with the start of Problem Gambling Awareness Month.
- US Bets: Lottery Advocates View DraftKings-Jackpocket Deal As Watershed Moment For Industry
- Since DraftKings announced a proposed acquisition of Jackpocket last month, much of the focus from sports betting industry stakeholders has surrounded the potential cross-selling opportunities for DraftKings through the courier lottery service. After all, DraftKings projects that the acquisition could drive as much as $100 million in Adjusted EBITDA during Fiscal Year 2026. But with any major M&A deal, the synergies from a large transaction are intended to be mutually beneficial for both parties. On the lottery side, the entry of the DraftKings’ imprimatur could provide the tailwind needed to modernize the industry.
North Carolina
- SBC Americas: NC Online Sports Betting Begins As Caesars Accepts First Wager
- Caesars Sportsbook has made history in a new regulated sports betting market. On Friday, the gambling operator became the first sports betting platform to launch online wagering in North Carolina ahead of a statewide mobile launch scheduled for March 11. Caesars has begun accepting wagers on at two casinos in the state under the Indian Gaming Regulatory Act and a deal with the Eastern Band of Cherokee Indians. “The Caesars Sportsbook app is the perfect complement to our in-person retail sportsbooks in Western North Carolina,” said Caesars Digital President Eric Hession in a statement.
Ohio
- PlayOhio: Ohio Casinos Off To Slow Start To 2024 With 12.6% Revenue Dip
- January did not provide the start that Ohio casinos hoped for in 2024. The Buckeye State’s four casinos reported $75.2 million in total revenue for the month. This number represents a 12.6% year-over-year decline and an 18% month-over-month decline. Even more painful, Ohio casinos reported their lowest monthly revenue totals in nearly three years. The $67.6 million in February 2021 was the only monthly report with worse results. The disappointing report comes as lawmakers discuss the possibility of legalizing Ohio online casinos.
West Virginia
- PlayWV: WV Lottery Commission Grants 3 iGaming Licenses For Live Dealer, ID Verification
- The West Virginia Lottery Commission handed out three online casino licenses during its monthly meeting earlier this week. Those companies are: PT Services, Jumio Services Corporation, and Radar Labs. All three are going to assist the gambling market in the Mountain State in some capacity. WV online casinos will benefit from PT Services. The online casino market in West Virginia has been setting records left and right. The state just posted a new best for the third time in four months in January, producing $16.4 million.