Industry News of the Day for October 18, 2022
iDEA Growth Member News
- Matthew Waters for Legal Sports Report: Entain CEO: Taking BetMGM Public In Play After Hitting Profitability
- An initial public offering to take BetMGM public is one of the options on the table if its sports betting joint venture breaks even next year. That is according to Entain CEO Jette Nygaard-Andersen, who tackled the question on the company’s third-quarter trading update call Thursday.
- Conor Porter for SBC Americas: 888 reports overall revenue drop in Q3 trading update
- 888has stated changes in the UK and Netherlands markets have impacted its overall revenues in a trading update for the third quarter of 2022. Despite the decrease in revenue, the group is confident that it can finish the year strong, as it expects Q4 2022 revenue to be similar to Q4 2021 results.
Industry News
- Katarina Vojvodic for PlayUSA.com: Caesars Shows Progress In Four Critical Areas With Release Of Annual CSR Report
- Caesars Entertainment released its annual Corporate Social Responsibility report, which reflects priorities after an internal assessment and stakeholder mapping exercise. The report also shows Caesars‘ progress in further diversifying its staff to reach gender and racial equality in leadership roles by 2025.
- Chris Altruda for SportsHandle: FuboTV Announces Closure of Fubo Sportsbook
- FuboTV announced as part of its preliminary third quarters results Monday that it would cease operations of Fubo Sportsbook effective immediately and leave the sports wagering marketplace.
Georgia
- Carter Breazeale for PlayGeorgia.com: Georgia Lottery Inks Partnerships To Boost Digital Presence
- The Georgia Lottery is a staple in the state. In fact, it’s the only legal gambling presence readily available to Georgians. While it’s the only game in town, the Georgia Lottery must take steps to stay fresh with emerging audiences. In 2022, that means an interactive, digital-facing product. And by locking in a pair of tech partnerships, the lottery has shown it’s looking forward to the future.
Kansas
- Pat Evans for Legal Sports Report: Promos Drag Down First Kansas Sports Betting Revenue Report
- Kansas sportsbooks took $160.5 million in bets during September, according to a Kansas Lottery report. However, with millions in promotional deductions taken by sportsbooks, they reported just $1.3 million in sports betting revenue during the first month of wagering, according to numbers revealed during last week’s Kansas Lottery meeting.
Maryland
- David Danzis for PlayMaryland.com: Maryland Public Voices Frustration Over Online Sports Betting Delay
- The slow-moving launch of Maryland online sports betting is causing somefrustration among gamblers and operators. Recently published comments directed to Maryland’s Sports Wagering Application Review Commission suggest The Old Bay State public thinks regulators are “delaying democracy”.
North Carolina
- Reyna Gobel for PlayUSA.com: North Carolina Uses A ‘Stacked Deck’ To Lower Underage Gambling
- In a North Carolina Department of Health and Human Services survey of 800 minors who participated in the state’s Stacked Deck problem gambling prevention program, 16% of middle school and high schoolers were playing slot machines in 2022, double the number from 2013.
New Jersey
- Matt Rybaltowski for SportsHandle: Sporttrade Launches Futures Trading In NJ Ahead Of This Week’s Sports Equinox
- Two days after the Phillies eliminated the Braves in four games, the Phillies’ price on Sporttrade spiked to $20.50, rewarding astute traders with a healthy profit. In between, Sporttrade officially went live with futures markets on Saturday, providing New Jersey customers with a new trading option for the top professional sports.
- Chris Imperiale for PlayNJ.com: New Jersey Online Casinos Earn $5 Billion In All-Time Revenue
- After a down month in August, New Jersey online casinos bounced back in September. They reported slightly more than $135 million in revenue, nearly $4 million better than the previous showing. In total, NJ just crossed $5 billion in all-time online casino revenue.