Industry News of the Day for May 17, 2019

Industry News of the Day for May 17, 2019

iDEA Growth in the News:

  • Cincinnati Enquirer, 5.16.19 – Opinion: Revenue Awaits With Legalized Mobile Sports Betting (by iDEA Growth founder Jeff Ifrah)
    • This legislative session is the opportunity for lawmakers to provide a safe and legal environment for Ohioans to take part in online betting and gaming, as well as the anticipated economic boon that would result from a new source of state income. There’s growing momentum in Ohio to pass sports betting, and this week the House is taking a step forward on legislation.

Industry News:

  • Legal Sports Report, 5.16.19 – US Sports Betting: Where It Stands One Year After The Federal Ban Fell
    • I was one of several hundred people sitting in the US Supreme Court in December 2017, watching oral arguments in Murphy vs. NCAA, the case about the US sports betting ban outside of Nevada. Roughly five months later — or one year ago this week — SCOTUS ruled that the ban under the Professional and Amateur Sports Protection Act was unconstitutional. (Here is a timeline of the history before and after PASPA.)
  • ESPN, 5.15.19 – Purdum: Sports Betting Will Be Legal In Half Of U.S. In A Year
    • David Purdum evaluates where the major sports stand on legalized betting and predicts how sports betting will grow within the next year.

New Jersey

  • ProFootball Talk on NBC Sports, 5.16.19 – New Jersey Sees $2.64 Billion In Legal Sports Betting
    • One year after the floodgates opened, the cash is flowing. New Jersey, the state that secured a Supreme Court ruling that allowed it and other states to provide legal sports wagering, has seen $2.64 billion in betting so far, via the Associated Press.
  • Play NJ, 5.6.19 – How Safeguards Protect (And Fix) NJ’s Virtual Fence From Gambling Outsiders
    • Atlantic City casinos have the eye in the sky. New Jersey online casinos and sports betting are a different story. Geolocation plays a critical role. This is where GeoComply comes into play. The company is behind the technology making sure gamblers using an NJ app are actually in the Garden State when the betting process is taking place. No exceptions.

Pennsylvania:

  • Sports Handle, 5.16.19 – Pennsylvania’s Sports Betting Revenue Swoons In April, But Mobile Is Coming … Really Soon?
    • With state-wide mobile sports betting yet to launch, the Pennsylvania Gaming Control Board on Thursday released its April sports betting numbers, and it’s no surprise that they are down to compared to March. In April, the state’s eight open sportsbooks took in $36.77 mm in handle, which resulted in $1.44 mm in state tax revenue and $84,430 in local tax revenue.
  • Legal Sports Report, 5.16.19 – Still Missing Mobile, Seasonal Decline Dents Pennsylvania Sports Betting Revenue For April
    • April showers dampened the latest report for legal sports betting operators in Pennsylvania. The eight active PA sportsbooks combined to win $4.2 million for the month, holding about 11.5% from $36.8 million in total wagers. Although it’s a reasonable performance given the season, those numbers don’t compare well to those from neighboring New Jersey.
  • The Philadelphia Inquirer, 5.16.19 – Parx Casino To Offer Internet Sports Betting Soon, Potentially Reshaping Pa’s Gambling Market
    • Parx Casino in Bensalem will test its internet sports wagering systems this month and plans to launch online sports betting in early June, casino officials told state regulators at a hearing Wednesday. The launch is expected to accelerate the growth of sports betting in Pennsylvania.
  • Play Pennsylvania, 5.16.19 – Parx Took Tops For Revenue During A Middling April For Books
    • April did not exactly shower Pennsylvania sports betting with revenue. It did produce the second-biggest month in the industry’s short history though. In March, the NCAA basketball tournament helped propel total bets to $44 million. Last month, the March Madness championship game did help boost betting, but it still came in at a relatively modest $36,769,145.

Massachusetts:

Oregon:

Overall Industry News:

  • Bloomberg, 5.16.19 – Casinos May Find Favor With Media Outlets Entering Sports Betting
    • Fox Corp. and Walt Disney Co.’s ESPN are entering the world of sports betting — and gaining notice as media companies look at new ways to build viewership in a world of declining pay-TV subscribers. But the real winners may prove to be regional gaming companies.