Industry News of the Day for May 31, 2023

By iDEA | May 31, 2023

Industry News

  • SBC Americas: XLMedia Warns Investors Of Weaker H1 Performance As US Launches Slow Down
    • XLMedia CEO David King has told investors that he is anticipating weaker revenues in H1 of 2023 compared to the year prior due to poorer market conditions in the US. The sports media publisher, which offers affiliate marketing services for US operators, noted that the beginning of this year faces tough annual comparatives, as New York’s sports betting launch proved to be particularly lucrative in 2022.
  • Gambling News: Intralot Posts Q1 Results, Enjoys Significant Growth In The US
    • The global provider of gaming solutions and content, Intralot, released its latest financial report, outlining key details regarding the company’s performance. In its recent trading update, the company revealed data regarding its performance for the first quarter of 2023 or the three-month period until March 31, 2023. For the period, Intralot reported group revenue of €89.5 million ($96 million).
  • iGB: Can LeoVegas Help MGM Take The Lion’s Share?
    • The official conclusion of MGM’s acquisition of LeoVegas was a year in the making. For Hagman, it couldn’t have come soon enough. “This time last year, MGM made a bid for LeoVegas,” he explains. “Then there was a four-month period until the completion date in September.” Although it was by all means “overwhelming”, it was worth the wait for Hagman, who reveres what MGM has to offer.
  • Legal Sports Report: Opinion: Could Gambling Fraud Like UK Case Happen In Limit-Heavy US Market?
    • If you happen not to read local papers from the UK. you might have missed a story about a 40-year-old man from Essex who was sentenced to five years in prison for conspiracy to commit gambling fraud against Bet365. While the nascent US sports betting market has been taking a beating in the press over advertising and NFL players violating league gambling rules, there is also likely growing anxiety from shareholders over when the market will turn profitable.

Colorado

  • SBC Americas: Colorado Gov. Polis Vetoes Bill That Would Allow Casinos To Issue Credit
    • The Colorado legislature was on board with SB 23-259, a measure that would allow casinos to issue up to $1,000 in credit to customers, but Gov. Jared Polis was not on the same page. Polis vetoed the measure last week, citing concerns related to problem gambling. The sponsors of the bill argued that the intent of the bill was to make it easier for out-of-state tourists to bring in larger amounts of money to gamble with.

Massachusetts

  • GamingToday: Massachusetts Becomes Latest State to Ask Feds to Prosecute Illegal Offshore Gambling Sites
    • At least eight states have formally asked the federal government to prosecute illegal offshore gambling operations that are siphoning billions of dollars off the legal US market each year. Massachusetts on Tuesday became the latest state to join the fray, as the Massachusetts Gaming Commission signed off on a letter asking the Department of Justice to “prioritize investigation of these offshore sites.”

North Carolina

  • NCSharp: With Modified Launch Language, Senate Floor Next Stop For NC Sports Betting Bill
    • House Bill 347 advanced Tuesday through two more legislative committees en route to the North Carolina State Senate floor. The Senate Finance Committee advanced an amended version of the bill that modified language surrounding the launch date, changed some language around tax revenue recipients and removed historical horse racing.  An hour later, the bill passed through the Senate Rules and Operations Committee.

Texas

  • PlayUSA: Texas Sports Betting Progress Called ‘Huge Win’ As Legislative Session Ends
    • Texans hoping for a legal and regulated option to participate in sports betting will have to wait at least another two years. The Texas regular legislative session officially ended Monday without final sports betting passage. But the effort to legalize sports betting in Texas made great progress in 2023. A resolution to give state voters the opportunity to vote on amending the state constitution to legalize sports betting passed the House with support of more than two-thirds of lawmakers.
  • Saturday Down South: Former Gov. Rick Perry: Texans Deserve Chance To Vote On Sports Betting
    • Texas sports betting is dead until at least 2025, but former Gov. Rick Perry believes Texans should have the opportunity to vote on the issue instead of its fate being decided by state politicians. Speaking through the Texas Sports Betting Alliance, Perry said common sense regulation is needed to protect Texans from the illegal sports betting market.
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