Industry News of the Day for October 30, 2023

By iDEA | October 30, 2023

Industry News

  • Legal Sports Report: Caesars Earnings Preview: Did CZR Stick To Prudent Promos In Q3?
    • Caesars already saw what can happen when spending big money on promotions, only to find out the resulting market share was more rented than bought. That is one big reason why the company’s third-quarter results will be so interesting. In a quarter where most companies expect to see red, Caesars shareholders will want to know the company did not overspend on promotions like it did when New York sports betting launched.
  • Sports Handle: Massachusetts 21+ Rule A Possible Conundrum For ESPN, Fanatics
    • In the week since ESPN BET unveiled its new logo, the design has been roasted on Twitter and a social betting company says it is considering legal action against the Worldwide Leader. Going forward, ESPN BET might have another issue to deal with: the question of where and when 21+ verbiage should appear on the betting logo and, potentially, the traditional ESPN logo. Regulators in Massachusetts and Ohio have particularly tough regulations around advertising.

California

  • Play USA: Two Online Sports Betting Initiatives Filed In California
    • Two proposed ballot initiatives filed with the attorney general Friday give California Indian tribes exclusivity for in-person and online California sports betting. Although no tribe is listed in the filing, individuals involved in the filing had prior business dealings with the Pala Band of Mission Indians. And as previously reported by PlayUSA, Pala Chairman Robert Smith had been in contact with some tribal leaders this month about filing a sports betting initiative. It is not a widespread tribal effort, and multiple representatives of key California gaming tribes tell PlayUSA that they were not consulted prior to the filing.

Colorado

  • Play Colorado: Potential Daily Fantasy Sports Regulations Could Alter Rules In Colorado
    • Regulators in Colorado could finally remove much of the uncertainty surrounding daily fantasy sports in the state if the Division of Gaming defines rules for the activity. The Colorado Department of Revenue will host a “rulemaking hearing” for the CO Division of Gaming on Oct. 30 to possibly add language to regulate DFS. The state legalized DFS in 2016, but the statutes have very little definition or rules in the regulations about the subject. For years, DFS operators in Colorado have operated under a murky set of guidelines.

Illinois

  • Gaming Today: Betway Withdraws Illinois Online-Only Betting License Bid
    • Betway’s bid for an online-only sports betting license in Illinois has been officially withdrawn. This was confirmed by Marcus Fruchter, Administrator of the Illinois Gaming Board on Thursday at the legal sports betting regulator’s meeting. He reported that a third party related to the sports betting company requested permission to withdraw its application and it was approved by the commission. Betway’s decision to withdraw its application marks the conclusion of the board’s supplemental licensing process.

Minnesota

  • Public News Service: Measuring The Online Gaming And Gambling Risk For MN Youth
    • Minnesota announced this week it has joined a multistate lawsuit against Facebook’s parent company Meta, over claims of addictive social media features harming teens. It coincides with growing research about teens and gambling. Serena King, professor and chair of psychology at Hamline University, has been working with the Minnesota Alliance on Problem Gambling to analyze results from the most recent Minnesota Student Survey while the legal action plays out.

Mississippi

  • The Center Square: Expansion Of Mobile Sports Gaming Outside Of Casinos Considered
    • Expansion of mobile sports gaming outside of Mississippi casinos on Tuesday got a second meeting of the Mobile Online Betting Task Force. Mississippi lawmakers on the panel are due Dec. 15 to report findings. Another meeting is Nov. 13. Jay McDaniel, executive director of the Mississippi Gaming Commission, told lawmakers several issues need consideration when drafting potential legislation. Among them are a tax rate, distribution of proceeds, and whether to offer a referendum process to allow counties to opt out of mobile gaming.

North Carolina

  • The Carolina Journal: Follow The Money: Lawmakers And Lobbyists Place Their Bets
    • As lawmakers wrap up this legislative session and look to 2024, Berger has assured the media that the casinos issue will return, with time for discussion, which may address some of the concerns of the Freedom Caucus members. “They are not necessarily upset about the fact of casinos, but they just don’t like the way this was put in the budget, rather than going through the committee process,” Rep. Keith Kidwell, R-Beaufort, told Carolina Journal. Kidwell is currently running to replace Moore as House speaker. “Now there are some who say, ‘no casinos, period.’ But I think the reason we got as much pushback as we did was the process.”

Ontario

  • Play Canada: PointsBet Bullish On Ontario Online Gambling And Numbers Show Why
    • PointsBet is reporting its Ontario online gambling platform is producing some positive numbers. So much so, the Australian-based operator is hoping to be profitable in Ontario next year. Speaking on an earnings call this week to discuss the quarter that ended Sept. 30, PointsBet Holdings Limited CEO Sam Swanell said: “We’re clearly on a path to profitability [in Ontario]. … This year, FY ’24, we increased revenue and we reduced the losses. In FY ’25, we want Canada profitable.”
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