Industry News of the Day for May 19, 2023

By iDEA | May 19, 2023

Industry News

  • CDC Gaming Reports: The United States Igaming Revenue Report – April 2023
    • An overview of igaming revenue in New Jersey, Michigan, Pennsylvania, Connecticut, West Virginia, and Delaware, the six states where online gambling is legal in the U.S. Total igaming revenue for April 2023 in the six states where it’s legal added up to $475.7 million as compared to $407.2 million in April 2022, an increase of 14.4% year over year.
  • US Bets: Beyond Bonuses: Sports Betting Industry Shifts Focus To Retention
    • So you’ve got ’em signed up, now how do you keep them active? That was, word for word, the title of a panel discussion Wednesday at this year’s National Sports Forum Spring Summit at Betr’s headquarters in Miami, Florida.  The virtual panel’s moderator asked the trio if they felt like the sports betting industry might be shifting to a promotional environment that’s more concerned with holding onto existing customers than offering sign-up bonuses to acquire new ones.

Indiana

  • PlayIndiana: Indiana Sportsbooks Have Taken A Hit From Ohio, But All Is Not Lost
    • The start of the year has been a challenge for Indiana sportsbooks, namely with the launch of sports betting in neighboring Ohio on Jan. 1. But a lot has changed since sports betting in Indiana became legal in September of 2019. At that time, Indiana was one of just 12 states with legal sportsbooks.

Minnesota

  • PlayUSA: House Speaker Says Time Has Run Out On Minnesota Sports Betting
    • With just days left in the legislative session, hopes to legalize Minnesota sports betting this year are slipping away. Negotiations between Indian tribes and horse racing tracks broke down last week and haven’t resumed, according to sources. “It appears the most likely scenario is sports gambling will likely wait until next year in Minnesota,” Rep. Pat Garofalo told PlayUSA.

New Jersey 

  • PlayNJ: Atlantic City Casinos Can’t Shake Winter Chill In April As Revenue Dips
    • April was another lukewarm month for Atlantic City casinos. In-person gambling revenue from the nine casinos was down for the month but remained slightly ahead of last year’s pace. Only two properties were up in April 2023 compared to 2022, while one of the market’s strongest performers had a rare stumble backward.

Ohio

  • Legal Sports Report: Ohio Sports Betting Regulator Eyes Fantasy Apps ‘Masquerading As Games Of Skill’
    • Fantasy sports apps offering stakes on athlete performances in player vs. house competitions are “illegal casinos masquerading as games of skill,” according to Matt Schuler, Executive Director of the Ohio Casino Control Commission, the chief regulator of Ohio sports betting and fantasy sports. OH sports betting regulators are aware of and weighing action against the “army” of player performance-based fantasy products in the state, Schuler said Wednesday during the OCCC’s monthly meeting.

Pennsylvania

Tennessee

  • Sports Handle: Industry Experts Applaud Removal Of Tennessee’s Official League Data Mandate
    • Tennessee’s legislative session included passage of SB 475, a bill that will have transformational effects on the state’s sports wagering industry and perhaps begin to reverse one key precedent set for other states. SB 475 removes the state’s official league data mandate and also switches its tax structure from a 20% tax on adjusted gross revenue (with a controversial mandatory 10% hold) to a 1.85% tax on operator handle.
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