Industry News of the Day for November 21, 2022
- PlayUSA: Three Major Online Casino Markets Break Revenue Records In October
- There were plenty more treats than tricks for online casino revenue in Michigan, New Jersey, and Pennsylvania in October. The three states each posted record online casino revenue numbers in October, continuing a trend of increased revenue in 2022.
- Sports Handle: What Will FTX’s Crash Mean For Crypto In Sports Betting?
- Is this the end of crypto? The Economist published that headline in the wake of the recent collapse of FTX, one of the world’s largest and most highly publicized cryptocurrency exchanges. “Never before has crypto looked so criminal, wasteful, and useless,” the magazine observed. But looks can be deceiving.
- PlayIllinois: Bally’s Expected To Finalize Purchase Of Chicago Tribune Printing Plant
- Later this month, Bally’s is expected to ink a deal to purchase the Chicago Tribune printing plant from Nexstar Media Group for $200 million. It is the next step in the plan to construct the largest Illinois casino. The plant, known as the Freedom Center, is 30 acres and located in River West. Bally’s plans to resell the property and lease it back to help fund its $1.74 billion casino and hotel plans.
- US Bets: Indiana Casinos Post $207.6 Million Revenue Win For October
- The Indiana Gaming Commission reported casino win totaling $207.6 million for October, the fourth consecutive month venues combined to surpass $200 million. The figure was 1.7% higher compared to the $204.1 million reported for September, but also 3.2% lower compared to the $214.5 million generated in October 2021.
- SBC Americas: DraftKings & Betfred Launch Sportsbooks In Maryland
- It is a busy week for Maryland with the launch of online betting and the opening of a new retail sportsbook powered by Betfred. Following a mandatory early access test period of November 21-22, DraftKings will go live with its online sportsbook in the Old Line State from November 23, pending receipt of regulatory approvals.
- PlayMA: Rules For Massachusetts Sports Betting Ads And “Risk-Free” Language
- Massachusetts is gearing up for the launch of MA sports betting. Earlier this month, the Massachusetts Gaming Commission (MGC) convened a roundtable to discuss potential rules for sports betting ads when the industry launches. Among other topics, participants discussed the number of ads that can be shown back to back.
- PlayNJ: Atlantic City Casinos Continue Slide In October As Revenue Drops To $220 Million Atlantic City casinos have a trend in monthly revenue in the fall, and October fell right in line. The city’s nine properties reported $220.6 million in land-based revenue, marking the third straight month in which they made less than the previous month.
- Legal Sports Report: Caesars CEO: NY Sports Betting Tax Rate ‘Ridiculous’
- Caesars CEO Tom Reeg said he believes the current legal NY sports betting model doesn’t benefit anyone. The Empire State has a 51% tax rate for online sports betting that has drawn the ire of several executives. “Well, the tax rate is ridiculous,” Reed told Legal Sports Report from the Indian Gaming Association Mid-Year Conference when asked what needs to change.
- PlayWV: Internet Vikings To Aid EveryMatrix With WV Online Gambling Services
- The West Virginia online gambling sector added to its growing industry landscape when EveryMatrix and Internet Vikings announced a recent partnership. According to the agreement, Internet Vikings will present hosting services to EveryMatrix in West Virginia.