Industry News of the Day for October 6, 2022

iDEA Growth Member News

  • Emile Avanessian for Light & Wonder Completes Divestment of Non-Casino Operations
    • Light & Wonder, Inc. announced the completion of the sale of its sports betting business, OpenBet. The buyer is US-based sports and entertainment content company Endeavor Group Holdings. Under the reported terms of the deal, Endeavor paid L&W $750 million in cash plus approximately $50 million worth of Endeavor stock.
  • Rob Fletcher for iGB North America: Kambi agrees terms for Penn Entertainment sportsbook migration
    • Sports betting solutions supplier Kambi Group and Penn Entertainment have reached an agreement over the migration of the operator’s online and retail sportsbooks from Kambi to Penn’s proprietary technology.


  • Steven Schult for PlayCA: Well, Actually… : Rebutting The SF Chronicle’s California Sports Betting Editorial
    • Just a few weeks ago, the Los Angeles Times released an editorial essentially fearmongering against the two initiatives. Just two days ago, the largest newspaper in Northern California, the San Francisco Chronicle, released an op-ed stating the editorial board’s reasons why residents should vote ‘no’ on Props 26 and 27. Like nearly every other publication, the Chronicle’s arguments against these initiatives are inherently flawed.


  • Chris Altruda for SportsHandle: Colorado Seventh State To Clear $8 Billion Sports Betting Handle
    • Colorado, in August, became the seventh state in the post-PASPA era to surpass $8 billion in sports wagering handle, as the state’s Division of Gaming on Wednesday reported more than $290.1 million in wagers were accepted during the month.


  • Matt Boecker for PlayIllinois: Local Official Slams Bally’s Casino Chicago Traffic Report
    • Bally’s Casino Chicago is facing another challenge on the path to licensing from the Illinois Gaming Board. Recently, Bally’s officials unveiled a report showing a temporary casino in the Medinah Temple won’t cause an overload of traffic in the neighborhood. Unfortunately, a Chicago alderperson still panned the report.


  • David Danzis for PlayMaryland: Projection: Maryland Will Place $4 Billion In Sports Bets In 2023
    • Legal online sports betting in Maryland could generate more than $4 billion in bets in the first full year. And according to PlayMaryland estimates, the majority of that action is going to be on football and basketball, and mostly during the months when those sports are hot.