UPDATE: Industry News of the Day for May 1, 2020
iDEA Growth Member News:
- Ifrah Law, 4.29.20 – DOJ’s Amici Hinder Effort To Extend The Wire Act To All Wagering
- The Department of Justice (DOJ) may be learning the hard way the age-old lesson that “sometimes you can’t pick your friends.”
- Forbes, 4.29.20 – NCAA Opens Door For Scholar-Athlete Endorsements In 2021, But Plan Is Not Without Limitations (Ifrah Law)
- By the time the 2021-22 academic year rolls around, the COVID-19 crisis will hopefully be little more than a distant memory. But now, it appears that academic year may represent a milestone for NCAA student-athletes: It could mark the first year during which they can be compensated in exchange for the use of their name, image and likeness.
- Legal Sports Report, 4.30.20 – Disney Owns Millions Of DraftKings Shares After Sportsbook Operator Goes Public
- The Walt Disney Company owns more than 18.2 million shares of DraftKings stock after the operator’s merger with SBTech and listing on Nasdaq last week.
- Gambling Compliance, 5.1.20 – Panel Debates Potential For New Market Entrant To Become Sports-Betting Kingpin (subscription paywall)
- Although some entrepreneurs remain bullish about a new power eventually changing the dynamics of online sports betting and gaming in the U.S., one top online gaming executive cautioned investors that the existing sports-betting momentum may be too steep for even a deep-pocketed disruptor to climb.
- SBC Americas, 5.1.20 – SBC Digital Summit: How To Crack Into The US Sports Betting Industry
- At the SBC Digital Summit this week, panelists discussed the validity of M&A in the country and if it is the only route to take during America’s sports betting boom.
- SBC Americas, 5.1.20 – SBC Digital Summit: Alternative Content Good ‘Filler’ But No Substitute For Real Sports
- As part of the US Track at the inaugural SBC Digital Summit, panelists discussed the alternatives for sports betting when traditional sports are shut down.
Overall Industry News:
- Online Poker Report, 4.30.20 – 6 Ways Casinos Will Try To Reduce The Risk Of Contagion When They Reopen
- It’s been about six weeks since the coronavirus pandemic forced businesses around the country to close their doors. The list of affected companies includes almost every casino in the US.
- Gambling Compliance, 5.1.20 – MGM Plans For US Casino Reopening Still A Work In Progress (subscription paywall)
- MGM Resorts International is the latest gaming company to report a dramatic decline in quarterly revenues due to the coronavirus pandemic, as executives continue working on plans to reopen casino properties.
- Law360, 4.30.20 – Apache Tribe Loses Casino Suit Against Gaming Commission (subscription paywall)
- The Fort Sill Apache Tribe on Wednesday lost its challenge in D.C. federal court to the National Indian Gaming Commission’s stance that hosting a casino on its lands would violate the Indian Gaming Regulatory Act.
Sports League News:
- ESPN, 5.1.20 – Sudden Vanishing Of Sports Due To Coronavirus Will Cost At Least $12 Billion, Analysis Says
- The sudden disappearance of sports will erase at least $12 billion in revenue and hundreds of thousands of jobs, an economic catastrophe that will more than double if the college football and NFL schedules are wiped out this fall by the coronavirus pandemic, an analysis conducted for ESPN shows.
- Legal Sports Report, 4.30.20 – Potential New Jersey ‘Reset’ Could Be Positive For theScore Bet, CEO Says
- When theScore Bet first launched in New Jersey last September, it came about a year after the rest of the market launched.
- PlayNJ, 4.30.20 – New Jersey Gaming News: The Fate Of NJ Sportsbooks; When Will AC Casinos Reopen?
- This week, Gov. Phil Murphy extended stay-at-home orders until further notice for all of New Jersey.
- PlayWV, 4.30.20 – ‘Time Is Now’ To Open West Virginia Casinos And Other Essential Businesses
- Senate members in West Virginia issued a letter to Gov. Jim Justice regarding the state’s plans to “open for business.”
- Legal Sports Report, 4.30.20 – Michigan Sports Betting Draft Rules Show Path To Challenge Official League Data
- Draft regulations to govern Michigan sports betting provide sportsbooks a clear pathway to challenge an official league data mandate.
- PlayMichigan, 4.30.20 – Michigan Online Gambling Rules Drafted As Stakeholders Lobby For Emergency Haste
- The Michigan Gaming Control Board sent over draft rules for internet gambling to stakeholders last week, as some hope to hasten the state’s process.
- Louis Post-Dispatch, 4.30.20 – Coronavirus Sidelines Effort To Legalize Sports Betting In Missouri
- Just as it has shut down baseball, basketball and hockey games, the coronavirus also has sidelined attempts to legalize sports betting in Missouri.
- TN Bets, 4.30.20 – Tennessee Lottery App To Receive Upgrades Under IGT Contract Extension
- At the same time the Tennessee Education Lottery Corporation is moving forward with the regulation of online/mobile sportsbooks, it also made a move to bolster its traditional offerings.
- Legal Sports Report, 5.1.20 – Colorado Sports Betting Goes Live: What You Need To Know About CO
- Colorado sports betting starts today as the Centennial State welcomes a handful of online sportsbook apps, with many more to follow.
- The Gazette, 5.1.20 – Playbook ‘Out The Window’ As Sports Wagering Launches In Colorado
- With the state’s casinos shut down and no major sports events planned until at least June, sports wagering started Friday in Colorado with much less fanfare than anticipated.
- 9News, 4.30.20 – Even Without Sports, Betting On Them Is Now Legal In Colorado
- Under different circumstances, Friday would be an exciting day for the sports betting enthusiast. That’s because Friday, sports gambling becomes legal in Colorado.
- PlayNevada, 4.30.20 – Nevada March Gaming Revenue Down With April Expected To Be Worse
- Nevada gaming revenue for March doesn’t look pretty even though casinos were open for two weeks.