Industry News of the Day for March 8, 2024
Industry News
- SBC Americas: Betway Weighing All Options For Future In The US Market After Losing Year
- During its most recent earnings report, Super Group made a point of segregating its performance in the U.S. from the rest of its results. The exclusion is understandable, as the parent company of Betway reported €18 million in losses on the quarter and €57 million in 2023 overall. “We are not pleased with the status quo,” said Super Group CEO Neal Menashe on the company’s earnings call. He went on to note that the company is evaluating all of its options in the market. Those options include pulling out of states, focusing on states with existing online casino markets and supplementing the business through M&A. Menashe also specified that the company is looking state-by-state about how to proceed.
- The Guardian: Two-Thirds Of Super Bowl Bets Were Illegal As Black Market Thrives, Report Says
- This month’s Super Bowl, in the neon glare of the Las Vegas Strip, capped online betting’s extraordinary rise from pariah to the luxury box of top-flight sports. Tens of millions of Americans had money riding on the Kansas City Chiefs’ clash with the San Francisco 49ers. In its fight to overturn a federal ban on sports betting, legalization’s supporters argued it would “critically weaken” illegal gambling platforms across the United States. And yet almost two in three wagers placed on Super Bowl LVIII were illegal, according to one estimate shared with the Guardian.
Alabama
- WVTM: Alabama Senate Approves Lottery, Gambling Bill, Final Outlook unclear
- The Alabama Senate on Thursday advanced a scaled-back gambling proposal — allowing a state lottery and electronic wagering machines at several locations in the state — as lawmakers try to strike a compromise that can win the needed votes in both chambers. The 22-11 vote on the proposal came after a more sweeping House-passed plan that would include sports betting and multiple casinos with table games stalled in the Senate. The bill now goes back to the Alabama House, where lawmakers could go along with the changes or send the bill to conference committee.
California
- USBets: Venture Capital Chief Says California Gambling Legalization ‘Inevitable’
- During a panel discussion on the future of online casino and online sports betting at the Next.io conference in New York on Wednesday, Edward King, a co-founding partner of Acies Investments, said California will soon legalize both. “It’s an inevitability for a state the size of California,” King said, according to an AP report. “The tax dollars are too big.” Not everyone agreed with this assessment, particularly Victor Rocha, the Conference Chair of the Indian Gaming Association and editor of Pechanga.net, which covers all manner of gambling for Native Americans.
Florida
- SportsHandle: U.S. Supreme Court Extends Deadline For Government Response In Florida Case
- The U.S. Supreme Court late Wednesday agreed to extend the deadline for the U.S. Dept. of the Interior (DOI) to file a response in the case versus West Flagler and Associates (WFA) that could determine the future of online sports betting in Florida. U.S. Solicitor General Elizabeth Prelogar filed for the extension Tuesday, citing the “heavy press of earlier assigned cases to the attorneys handling this matter.” The original deadline was March 13. The DOI will now have until April 12 to file a response to WFA’s brief, in which it described the current situation in Florida as “unlawful” and asked the court not make it a model for other U.S. jurisdictions to follow.
New York
- PlayUSA: Addabbo Says New York Online Casino Won’t Make State Budget
- New York online casino won’t make the state budget, likely ending chances for iGaming legalization in 2024. Speaking to PlayUSA after his panel Thursday at the iGaming NEXT Summit in downtown Manhattan, state Sen. Joseph Addabbo said the Senate would not include online casino and iLottery in its one-house budget next week. “It’s out of the budget but that doesn’t mean we cannot resume that conversation in June or December. It materializes at any point.” In January, New York online casino efforts got off to a bad start when Gov. Kathy Hochul did not include it and online lottery in the executive budget.
North Carolina
- Legal Sports Report: DraftKings Releases NC Sports Betting Launch Plan, Sportradar Gets License
- NC sports betting operators and their suppliers are gearing up for Monday’s online launch. DraftKings announced Thursday its plan for the debut of online NC sports betting. The operator is one of eight operators preparing for Monday. Also on Thursday, Sportradar announced it received a sports betting supplier license in North Carolina. It is the 56th such license in North America for the sports technology company. North Carolina will be the 27th US sports betting market for DraftKings. To secure a North Carolina sports betting license, DraftKings partnered with NASCAR for market access.