Industry News of the Day for November 30, 2023
Industry News
- Legal Sports Report: Unibet Parent Pulling Out Of US, Cutting Jobs To Improve Profit
- The Unibet brand is the latest North American sports betting casualty as Kindred is closing up shop in the US and Canada. The exit should be completed by the end of the second quarter next year, according to the company’s third quarter release. That, combined with cutting 300 positions, should save about $50 million a year, the company said. Investors sold Kindred on the announcement and its earnings report. The stock closed in Stockholm at 88.92 Swedish krona Wednesday, down 4.18% on nearly 13 times its average daily volume.
- Gambling Insider: EveryMatrix And Caesars Digital Announce Strategic Partnership
- EveryMatrix has secured a partnership with Caesars Digital to integrate its casino content into Caesars Palace Online Casino and Caesars Sportsbook & Casino across North America. The collaboration extends EveryMatrix’s reach to Caesars Digital customers in multiple US states, providing access to a range of real-money games from EveryMatrix’s in-house studios, including Armadillo Studios. Caesars Digital recently launched Caesars Palace Online Casino earlier this year, becoming one of the pioneering operators in New Jersey. The company’s expanded operations span multiple US states and Ontario.
California
- PlayUSA: Three California Tribes Submit Comments Highlighting Issues With Sports Betting Initiative
- Three California Indian tribes that filed an online sports betting initiative last election cycle submitted comments to the state attorney general opposing a similar initiative filed last month. The San Manuel Band of Mission Indians, Rincon Tribe of Luiseno Indians and Wilton Rancheria highlighted two problematic provisions in the filing. Monday was the final day for comments. Other than those two provisions, the tribes said the new sports betting initiative is essentially identical to the one they filed in the fall of 2021.
Missouri
- SBC Americas: Missouri Sports Betting: Eight Ballot Motions Approved Ahead Of 2024 Election
- Missouri’s sports teams are once again seeking to legalize sports betting in 2024 as Secretary of State John Ashcroft approved eight motions to secure a ballot ahead of the 2024 election cycle. The motion seeks to make an amendment to the Missouri constitution, which would require a public vote to be held at the 2024 election in November. Under the proposals, the Missouri Gaming Commission would allow licenses to online operators, gambling boats, pro sports teams and mobile operators. Operators would be taxed at 10% with funds going towards education and gambling harm education and treatment.
New Jersey
- PlayNJ: Jackpocket Online Casino Makes Quiet Soft Launch In New Jersey
- Jackpocket Casino is the newest player testing the NJ online casino waters. The online gambling newcomer has yet even to send out a press release telling players, “We’re open with slots and live dealer games.” Those with an iOS device might accidentally come across Jackpocket online casino when searching for new NJ online casino apps available for download. Despite the slow and quiet rollout, the news isn’t a total surprise. In early October, the New Jersey Division of Gaming Enforcement granted regulatory approval to conduct online gambling in the Garden State. Jackpocket, better known for its online lottery product, gained NJ market access via a partnership with Caesars Interactive Entertainment and Harrah’s Atlantic City.
North Carolina
- NC Sharp: NC Lottery Sets Deadline For Sports Betting License Applications But No Launch Date
- The application deadline for sports betting operators that want to enter the North Carolina market is Dec. 27, 2023. This gives the NC Lottery Commission, industry regulators, a 60-day approval window. The Sports Betting Committee of the NCLC approved the cutoff date and the basics of the application process for operators, service providers and suppliers during a public meeting on Wednesday. The license applications go before the full NCLC for final approval. There are several steps involved in an operator obtaining approval. The NCLC has its own state-mandated deadline of June 15, 2023, to launch sports betting. However, no date has been set for the launch of online sports betting in North Carolina.
Pennsylvania
- PlayPennsylvania: Pennsylvania Sports Betting Market Keeps Growing With Record October
- September of this year marked the fifth full season of football sports betting in Pennsylvania. At some point, the market is expected to mature, slightly dropping off in handle and revenue from year to year. This does not seem to be occurring in the Keystone State, however. October proved that PA online sportsbooks have not completely matured and are in fact continuing to grow. How much the industry can climb remains to be seen. With more sportsbooks in line to enter the state, it’s almost certain that the sports betting vertical keeps growing.