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State of the Union: Arizona, Genius, Canada and more

Insight | Analysis

This week’s State of the Union, in partnership with Segev LLP, includes the launch of legal sports betting in Arizona, as well as early results from Canada and first-half financial numbers from data giant Genius Sports.

Arizona sports betting market opens for business

Arizona has today (September 9) launched its legal sports wagering market, with DraftKings and BetMGM among the operators to go live in the state on opening day.

The US Department of Interior in May approved a bill that formalized an amended compact, setting out measures allowing players to bet on sports at tribal casinos and sites owned by major league sports teams in Arizona.

OLG surpasses CAN$1m in wagers during online sportsbook’s first week

Ontario Lottery and Gaming Corporation (OLG) has processed more than CAN$1m in sports bets during the first week of operating its new online sportsbook.

Proline+ launched as the only legal online sportsbook in Ontario on August 27, the same day that single-event sports betting became legal in Canada.

Stock-based costs cause Genius losses to rocket in H1

Data supplier Genius Sports saw revenue grow 76.3% to $109.6m in the first half of 2021, but net losses shot up to $464.2m because of high stock-based compensation costs.

Betting technology, content and services represented by far the largest contributor to Genius’ revenue, bringing in $79.6m, up 73.8%. Of this increase, $15.8m was due to price increases on existing contracts or renewals, while $7.8m came from new customer acquisitions and $10.7m from “increased utilisation” of Genius content.

IGT splits business again with new digital and betting segment

International Game Technology (IGT) has established a new ‘Digital and Betting’ business, headed up by Enrico Drago and comprising the igaming and sports betting operations previously part of its Global Gaming segment.

The IGT business will now operate as three segments, with the new Digital and Betting arm running alongside its Global Lottery and Global Gaming divisions that were established in July last year.

AGA research suggests record betting numbers for 2021 NFL season

Research conducted by the American Gaming Association (AGA) shows that a record 45.2m Americans plan to wager on the upcoming National Football League (NFL) season.

The figure represents a 36% increase on last year’s NFL season, with the increased availability of sports betting across the US cited as the biggest contributing factor.

Underdog Fantasy to expand into betting with GOAT Gaming acquisition

Fantasy sports platform Underdog – which is backed by a number of high-profile names in US sport – has acquired sportsbook technology platform GOAT Gaming, allowing it to expand into the world of sports betting.

GOAT Gaming currently supplies risk management technology to cryptocurrency gambling operator the Coingaming group and its brand. In addition, it offers odds creation, account management and event management technology.

Pronet Gaming powers’s launch in Canada

Online gambling operator has launched in Canada via a partnership with gaming solutions provider Pronet Gaming.

Under the arrangement, will operate on Pronet Gaming’s platform, offering players access to a range of sports betting options and online casino games.

Arizona tribe fails in legal challenge over sports betting launch

A Superior Court in Arizona has ruled against the Yavapai Prescott Indian tribe’s bid to halt the planned launch of sports betting in the state later this week.

The Yavapai Prescott last week requested the Maricopa County Superior Court to halt the implementation of House Bill 2772, which grants sports betting licenses to 10 sports franchises and 10 tribes.

888 launches Sports Illustrated sportsbook in Colorado

Online betting and gaming operator 888 has launched a new sportsbook in the state of Colorado via its partnership with sports magazine Sports Illustrated.

SI Sportsbook allows players in Colorado to place pre-event and in-play wagers on a wide range of major sports events including the National Football League, National Basketball Association, Major League Baseball and National Hockey League.

BlueBet withdraws application for Virginia sports betting license

Australian mobile wagering operator BlueBet Holdings has withdrawn its application for a license in Virginia after being deemed ineligible for a permit.

BlueBet had put forward a submission for a license and paid all the relevant application fees but was informed by the Virginia Lottery that it was not eligible.

Caesars completes sale of southern Indiana operations to tribal operator

Caesars Entertainment has finalized the sale of its Caesars Southern Indiana land-based casino to the Eastern Band of Cherokee Indians.

Agreed In January of this year, the deal saw the tribal operator pay $250m to take over the property in Elizabeth, Indiana.

Playmaker launches new betting venture as poker star Gross invests

Digital sports media business Playmaker announced the launch of a new content vertical for the sports betting and revealed renowned poker player Jeff Gross as its latest investor.

Playmaker Betting will feature a range of sports betting content, events and games with the aim of improving engagement with players and fans between the ages of 21 and 34.

BetMGM to offer gift cards in convenience stores with TAPP partnership

Sports betting operator BetMGM has announced a partnership with payment provider TAPPP which will see BetMGM gift cards made available across the US.

The gift cards will be stocked in major convenience and grocery chains in states where sports betting is legal. They are currently accessible in 6000 locations across eight states, and they can be bought in denominations of $25 and $50.

Tipico to open new sports betting technology hub in Colorado

Sportsbook operator Tipico has set out plans to open a new sportsbook technology hub in Colorado, just weeks after launching online sports betting in the state.

Tipico said that the facility could create up to 441 jobs over the next eight years, including positions in technology roles in areas such as software development, cloud infrastructure, native and mobile app development, product management and data engineering.

Oregon sports betting revenue falls in August

Oregon’s SBTech-powered betting app Scoreboard brought in revenue of $1.0m in August, a month-on-month decrease of 51.0% and down 42.1% year-on-year.

Handle came to $17.6m for the month, a 2.7% drop compared to July. This was also significantly less than the $25.8m that was wagered in August 2020.

Caesars Sportsbook strikes extensive partnership with Baltimore Ravens

Caesars Entertainment has built upon its Horseshoe Baltimore property’s relationship with National Football League franchise the Baltimore Ravens, through a multi-faceted partnership with the operator’s Caesars Sportsbook brand.

The five-agreement sees the Ravens grant Caesars Sportsbook naming rights throughout the club level of its M&T Bank Stadium, and additional exposure via animated displays across the venue’s LED boards.