Industry News of the Day for May 20, 2024
Industry News
- Bonus: Study Finds Motivations Differ For Instant Lottery, Casino Gamblers
- According to a recent study, casino players tend to have different reasons for gambling than those who buy instant lottery tickets. That’s important because other research has shown that some motivations indicate a higher risk of developing a problem than others. In particular, gambling as a coping mechanism or to escape from stress is a red flag. The analysis found that players of each game type exhibited differences in the particular emotions driving their play. That said, the results indicate that, regardless of game type, emotional regulation may be part of people’s choice to gamble.
Minnesota
- iGB: Minnesota Sports Betting Bill Dead At End Of Chaotic, Marathon Day
- A chaotic marathon legislative session ended on Sunday (19 May) in Minnesota without legal sports betting being considered. Before the calendar turned to 2024, Minnesota was among four US states that stakeholders believed had a real shot to legalise.
Illinois
- TheLines: Dave & Buster’s Betting Plans In Jeopardy Following Illinois Amendment
- Illinois lawmakers are working to amend a preexisting gaming bill to prevent arcades from offering betting. This directly responds to Dave & Buster’s plans for arcade game peer-to-peer betting on games like Skee-ball to capitalize on the growing popularity of social wagering. Initially, lawmakers introduced an entirely separate bill for this purpose, but that measure was submitted past the legislative session’s deadline. Now, they must try to amend the current bill.
North Carolina
- NCSharp: NC Exceeds Sports Betting Expectations With $649M In First-Month Bets
- The North Carolina Lottery Commission released its first full-month report on NC sports betting revenue since mobile betting launched on March 11. The total handle, or amount bet, during April 2024 exceeded expectations at $648.9 million for the state’s eight licensed operators. Of that total, bettors were paid out $538.4 million.
Iowa
- PlayUSA: Iowa’s April Casino Gaming Revenue Of $143 Million Was Down 12% Monthly
- In April, the gaming revenue generated by Iowa’s 19 land-based casinos fell 12%, from the $164.3 million collected in March to $143.8 million. Prairie Meadows Racetrack & Casino had the highest gross gaming income at $19.9 million, according to the Iowa Racing & Gaming Commission (IRGC). Also, the casino had a win per capita of $122, and it remitted $4.2 million in state tax.
Michigan
- PlayMichigan: Online Casino Operators Are Spending More In Michigan To Keep Up
- On first quarter earnings calls the last few weeks, many operators touted lower marketing and promotional spend across the board. However, that isn’t the case in Michigan, a state critical to operators’ bottom lines as one of the few jurisdictions that allows online casinos. The Michigan online casino market is considered mature, having launched back in January 2021. To stay competitive, operators have been distributing more promotions than ever in the Great Lakes State. It isn’t expected to slow down, either.