Industry News of the Week for December 8, 2024

By iDEA | December 12, 2024

Industry News 

  • Legal Sports Report: Sports Betting Apps Benefit From Expanded College Football Playoff
    • The expanded College Football Playoff has fundamentally reshaped the postseason landscape, and sportsbooks are already reaping the benefits. The playoff field is growing from four teams to twelve, creating a significant uptick in betting interest. One large factor driving this betting interest is that with more playoff games, fewer players are expected to opt out of their final postseason bowl games in favor of training for the NFL or entering the transfer portal.

Michigan

  • PlayMichigan: Detroit Casinos Deliver Highest November Revenue Since Before the Pandemic Setback
    • The Michigan Gaming Control Board (MGCB) reported that Detroit casinos produced $106.4 million in November revenue, the highest total for the month since before the pandemic. The monthly revenue record for casinos in November 2019 ($124.2 million) has stood for five years. Detroit casinos benefitted from a workforce in full operation this November, as properties posted a solid month of earnings. Unsurprisingly, the casinos experienced a 39.9% year-over-year increase and a 2.5% month-over-month increase. November’s total puts the city’s casinos at $1.17 billion in yearly revenue with one month to go. The properties are on pace for $1.28 billion for the year, which would be the highest total since 2019.

Missouri

  • Legal Sports Report: Missouri Sports Betting Certified, Launch Likely By Summer
    • Missouri sports betting is officially on its way. The Missouri Board of State Canvassers certified November’s general election results Thursday, including Amendment 2, which legalizes sports betting in Missouri. The amendment passed by a slight margin, which left room for a potential recount. The ballot question requires sports betting to launch by Dec. 1, 2025. However, the Missouri Gaming Commission will likely attempt to launch sooner than that. The amendment allows each of the state’s casinos to operate in-person and online sportsbooks. The state’s six professional sports teams also can operate sportsbooks. The MGC also can allocate two standalone online licenses. Missouri will institute a 10% tax on sports betting revenue. 

Pennsylvania

  • PlayPennsylvania: Pennsylvania Commonwealth Court Overturns Skill Game Ban In Philadelphia
    • The Commonwealth Court of Pennsylvania has overturned a municipal law banning skill games in Philadelphia. The city’s mayor, Cherelle Parker, signed the legislation into law in April of this year after Councilmember Curtis Jones introduced a bill in January that would prohibit skill machines in city stores and gas stations because of public safety. City Council unanimously approved legislation in March. The court’s decision means that small businesses will once again be able to install the controversial machines, which superficially resemble slots but include an element of skill. 

Virginia

  • PlayUSA: Caesars Virginia Pushes Opening Day Back Five Days to Dec. 17
    • Danville’s highly anticipated Caesars Virginia resort and casino will open on December 17, delaying its original opening date by five days. The grand opening ceremony for the property will commence at 11 AM, featuring a parade of race cars and supercars from Virginia International Raceway, Kaizen Autosport, and Foreign Cars Italia. Caesars Entertainment executives, the Eastern Band of Cherokee Indians, and local leaders will also give speeches. This state-of-the-art $750 million dollar property boasts 90,000 square feet of gaming space, 1,500 slot machines, 79 live-action table games, a poker room, sportsbook, and more.
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