Industry News of the Week for December 15, 2024
Industry News
- Legal Sports Report: December 2024 US Senate Hearing Highlights Push for Nationwide Sports Betting Regulation
The US Senate held a hearing on Tuesday, focused on the future of sports betting in the United States, with lawmakers discussing the potential for federal regulation to address the growing patchwork of state laws. Key lawmakers, including Senate Majority Leader Chuck Schumer, emphasized the need for uniformity in sports betting regulations, while also addressing concerns over consumer protection, integrity of the games, and the role of the gaming industry. The hearing comes amid growing calls for federal oversight to ensure consistency across state lines as more states continue to legalize sports betting.
- Play USA: Tribal Leaders Express Optimism Over Trump Appointee Burgum
Tribal leaders across the US are expressing cautious optimism over Governor Doug Burgum’s appointment by former President Trump to a key federal position. Burgum, who has a history of advocating for tribal sovereignty and economic development in North Dakota, is seen as a potential ally in addressing issues related to tribal gaming, land rights, and federal recognition. Tribal leaders are hopeful that Burgum’s appointment will bring greater attention to the challenges facing Native American communities, particularly in the realm of gaming regulation and economic opportunities. His past record and close working relationships with tribal nations have raised expectations for positive developments under his leadership.
Louisiana
- Legal Sports Report: Louisiana Online Casino Study Committee Eyes Potential Regulation
The Louisiana Online Casino Study Committee convened this week to discuss the state’s future of online casino gaming. With the growth of legalized gambling nationwide, lawmakers are considering introducing online casino legislation to complement the state’s existing sports betting market. Key committee members explored potential regulatory frameworks, including tax structures, licensing processes, and consumer protections. As Louisiana looks to capitalize on the booming online gaming industry, the study committee’s findings could shape the future of iGaming in the state.
Michigan
- Play Michigan: Michigan Sets Record for Total Sports Betting Handle in 2024
Michigan officially set a new single-year record for total sports betting handle in 2024, surpassing previous benchmarks as the state’s market thrives. With impressive growth across retail and online platforms, Michigan has become one of the top sports betting markets in the US. Key drivers of this surge include major sports leagues’ seasons, increased consumer confidence, and expanding promotional offers. As the state looks ahead, industry experts expect the momentum to continue, bolstered by ongoing market expansion and potential regulatory enhancements.
- Play Michigan: DraftKings Michigan Progressive Jackpot Set to Exceed $8 Million on Christmas Day
DraftKings’ Michigan progressive jackpot is on track to surpass $8 million by Christmas Day, marking a new milestone for the state’s online casino market. As the holiday season ramps up, players have flocked to the platform, driving the jackpot to unprecedented levels. With this impressive growth, DraftKings Michigan is poised to continue attracting attention from new and seasoned players looking to take a shot at the massive payout. As the state’s iGaming market continues to thrive, experts predict even more record-breaking jackpots in the coming months.
New Jersey
- Play USA: New Jersey Lawmakers Push to Decriminalize Underage Gambling
New Jersey lawmakers are considering a proposal to decriminalize underage gambling, shifting the focus from criminal penalties to educational and corrective measures. The bill, introduced this week, aims to address the growing concern over minors participating in illegal gambling activities by providing an alternative to traditional criminal charges. Instead, the legislation suggests mandatory counseling and a fine for those caught engaging in underage betting. Supporters argue that this approach would allow for more effective prevention while reducing the burden on the criminal justice system. If passed, New Jersey would become the latest state to reconsider its stance on underage gambling.
Pennsylvania
- Play Pennsylvania: November iGaming Record Propels Pennsylvania to $8 Billion in Lifetime Revenue
Pennsylvania has reached a significant milestone, surpassing $8 billion in lifetime iGaming revenue, fueled by a record-setting November. The state’s online casino and poker markets have seen explosive growth, contributing to an all-time high in monthly revenue. Key factors driving this surge include the popularity of online slots, table games, and the state’s competitive tax structure. As Pennsylvania continues to lead the charge in the US iGaming sector, experts predict even more growth in the coming months, with expanding player bases and innovations on the horizon. -
Play Pennsylvania: Penn Entertainment Launches Standalone Hollywood Casino App Ahead of Schedule
Penn Entertainment launched its standalone Hollywood Casino app earlier than expected, marking a significant step in the company’s expansion in Pennsylvania’s mobile gaming market. The new app, which offers a full range of iGaming options, including slots, table games, and live dealer experiences, aims to enhance the user experience with a streamlined, dedicated platform. This early launch positions Hollywood Casino as a key player in the competitive market, offering more opportunities for Pennsylvania residents to engage with online gambling. With the app’s success, Penn Entertainment is expected to expand its presence further in the state and beyond.