Industry News of the Day for September 30, 2020

Industry News: 

• Gambling Compliance, 9.30.20 – Three States Expected To Approve Sports Betting On Election Day (subscription paywall) 
  • Voters in Louisiana, Maryland and South Dakota are expected to easily pass referenda on sports betting on November 3, setting the table for explosive growth in the burgeoning industry in the coming year. 

Overall Industry News: 

• Gambling Compliance, 9.30.20 – William Hill Agrees To Caesars Takeover Bid (subscription paywall) 
  • William Hill said its board has “unanimously and unconditionally” agreed to the £2.9bn offer made by its US partner, Caesers Entertainment. 

• Sports Handle, 9.29.20 – Caesars Threatens To Terminate Sports Betting Market Access Deal If William Hill Rejects Bid 
  • Caesars Entertainment announced Monday that the company has entered advanced negotiations concerning a potential $3.7 billion takeover of William Hill, raising the stakes in a potential bidding war with a prominent private equity firm. 

• Sports Handle, 9.29.20 – Study: Generation Z Sleeping On Traditional Live Sports 
  • The last decade ushered in a boom to the North American sports industry through media rights, sponsorship opportunities, and the legalization of sports betting. The challenge for the next decade is to keep from going bust by attracting more Generation Z viewers. 

• PlayPennsylvania, 9.30.20 – Penn National Raises $982 Million In Stock Sale To Bolster Barstool Branding Push 
  • Penn National closed its public stock offering, announcing today that the PA-based company raised $982.1 million in the sale of 16.1 million shares of $PENN stock. 

Maryland: 

•  Baltimore Sun, 9.30.20 – Question 2 Asks Marylanders To Legalize Sports Betting. Where? Which Sports? For Exactly What Purposes? Stay Tuned. 
  • A decade after the first casino opened in the state, Maryland voters will decide whether to expand legalized gambling by permitting the sort of betting — on the Ravens, Orioles or other sports teams — that casinos and racetracks have long sought. 

Kentucky: 

• The Action Network, 9.29.20 – Kentucky Sports Betting Supporters Hope For 2021 Success Despite Legislative Hurdles
  • Sports betting backers in the Kentucky legislature are hoping, once again, to approve sports betting as early as 2021, even as political and logistical hurdles remain. 

Ohio: 

• Online Poker Report, 9.29.20 – Ohio Senator Will Add Online Lottery Clause To Sports Betting Bill 
  • If Sen. Bill Coley gets his way, Ohio could become the latest US state to sell lottery tickets online. He would like to add a provision to that effect to a sports betting bill currently making its way through the Senate. 

Colorado: 

• PlayColorado, 9.29.20 – PAC-12 And Mountain West Football Is Back: What Does That Mean For Sports Betting In Colorado? 
  • As if you need another reminder that it is, in fact, 2020, you got it last week. That’s when the announcements came that the Pac-12 and Mountain West conferences will play football this year. 

New Jersey: 

•  Gambling.Com, 9.29.20 – Tipico Moves Into New Jersey Mobile Sports Betting Market 
  • Tipico, the leading sports betting provider in Germany, announced on Tuesday that it has received conditional approval from the New Jersey Division of Gaming Enforcement (NJDGE) to bring its mobile sports betting platform to New Jersey. 

Pennsylvania: 

• Penn Bets, 9.29.20 – Pennsylvania Casinos Cut Back 6,000 Jobs Compared To A Year Ago 
  • Figures previously released by the Pennsylvania Gaming Control Board demonstrated COVID-19’s impact on gaming revenue in the state, and new ones Tuesday spelled out the pandemic’s toll on casino industry employees. 

• PlayPennsylvania, 9.29.20 – Wolf’s Planned Raid On PA Horse Racing Fund Appears Dead This Budget Year 
  • Gov. Tom Wolf‘s plan to fund his proposed Nellie Bly Scholarships for 25,000 students attending state universities through a $204 million grab from the Race Horse Development Fund is an apparent scratch from this year’s budget plans. 

Rhode Island: 

• Gambling.Com, 9.29.20 – Rhode Island August Sports Betting Handle Increases 243% 
  • For the second straight month, Rhode Island saw its total sports handle increase substantially.