This week’s state of the Union, in partnership with Segev LLP, includes a new report from the IBIA and H2 Gambling Capital, Bally’s acquisition of Tropicana Evansville, legaslative progress in Louisiana and results from Oregon.
IBIA-H2 report hails NV and NJ regulatory regimes, but ranks Canada 19th of 20
A new report from the International Betting Integrity Association (IBIA) and H2 Gambling Capital has ranked New Jersey and Nevada among the strongest regulated online betting markets on the globe, but Canada 19th of the 20 countries measured.
The “first-of-its-kind” report – which can be read in full here – launched today and assesses and ranks 20 different regulatory markets on regulation, tax, product availability, integrity and marketing. The report also provides an overview of the global betting market and reveals the annual cost of match-fixing.
It rated Canada second-lowest among the 20 markets measured. However, it was one of five markets granted a provisional score, as the country’s regulatory system may undergo major changes.
Bally’s finalizes acquisition of Tropicana Evansville from Caesars
Bally’s Corporation has completed the acquisition of the Tropicana Evansville land-based casino in Indiana from Caesars Entertainment.
Under the deal, Bally’s will take ownership of all Tropicana Evansville casino operations, as well as unencumbered rights to the facility’s sports betting and online gambling skins.
Smarkets receives investment from Susquehanna to expand US presence
Betting exchange operator Smarkets has announced a series B investment from Susquehanna Growth Equity, which will help Smarkets to increase its expansion across the US.
The investment is set to fund Smarkets’ market-access deals in regulated US states and develop new customer products. The operator did not reveal how much was raised, however, or the terms offered.
BetMGM becomes exclusive betting partner of The Hockey News
BetMGM has agreed a deal to become the exclusive sports betting partner of ice hockey publication The Hockey News.
Under the deal, The Hockey News – which BetMGM said has more than 1 million readers – will use BetMGM odds for its podcasts and news articles, as well as displaying ads from the operator.
Lotto.com partners QuickChek to launch in New Jersey
Lotto.com, a digital platform for buying lottery tickets, has linked up with convenience store chain QuickChek to launch in the US state of New Jersey.
QuickChek will serve as the exclusive retail partner of Lotto.com in New Jersey and allow the platform to promote its services to consumers via the chain’s 138 stores across the state.
PointsBet secures Maryland market access deal with Riverboat Group
Sportsbook operator PointsBet has entered into an agreement with the Riverboat Group’s Riverboat on-the-Potomac venue in Maryland to secure market access in the US state.
Under the 10-year deal, PointsBet will partner with the Riverboat on-the-Potomac to offer both online and retail sports wagering in Maryland.
Detroit casino revenue edges up month-on-month in May
The Michigan Gaming Control Board (MGCB) has reported a slight month-on-month rise in revenue from the three land-based commercial casinos in Detroit, with revenue up across casino gaming and sports betting.
Aggregate revenue for the month amounted to $110.0m, up 0.9% from $109.0m in April this year.
MGM names Mandadi first chief strategy, innovation and technology officer
MGM Resorts International has appointed former Disney executive Tilak Mandadi to the newly created position of chief strategy, innovation and technology officer.
In the new role, Mandadi will oversee MGM Resorts’ digital strategy, with a focus on driving growth and innovation through technology-led customer-centric experiences, products and services.
Penn National Gaming appoints Vimla Black-Gupta to board
Penn National Gaming has named marketer Vimla Black-Gupta as a new addition to the operator’s board of directors, subject to customary regulatory approvals.
Black-Gupta has more than 25 years of marketing experience, having served as the global chief marketing officer of Equinox Fitness Clubs and as senior vice president of global marketing for Bobbi Brown Cosmetics at Estee Lauder. She has also held executive global marketing roles with Proctor & Gamble and Gilette.
Louisiana Governor signs off on sports betting tax bill
Louisiana has taken a step closer to legal sports wagering after Governor John Bel Edwards signed the first of two bills required to regulate betting in the US state.
Introduced in April, House Bill 697 sets out tax rates, licensing fees and a number of other sports wagering requirements in Louisiana. The bill was passed by the state’s House and Senate last month before moving to the Governor for signature.
A Game Above appoints Girvan to senior partner marketing role
Customer acquisition and retention marketing specialist A Game Above has named industry veteran Paul Girvan as senior vice president of partner marketing.
In the role, Girvan (pictured) will support the A Game Above team with its response to demand for its campaigns, promotions and events across the betting and gaming markets, with a mandate to secure exclusive partnerships on a per product vertical and per state basis in the US.
Playmaker commences trading on TSXV and names Cassaday as new COO
Digital sports media business Playmaker has begun trading TSX Venture Exchange (TSXV) in Toronto, Canada and also announced the appointment of Jake Cassaday as its new chief operating officer.
Playmaker is trading under the ticker symbol PMKR on the TSXV as part of plans to expand its presence in the wider North American market.
Louisiana sports betting regulation bill heads to Senate
A Louisiana bill that would further regulate sports betting in the state has been passed to the Louisiana Senate after minor amendments from the state House.
Senate Bill 247, if signed into law, will require facilities to hold gaming licenses in order to offer sports wagering, regulate gaming license recipients and authorize wagering limitations.
Oregon sports betting revenue up 293.0% YoY in May but down from April
The Oregon Lottery has reported a 293.0% year-on-year increase in sports betting revenue to $2.4m in May, while the US state’s handle also jumped 280.8% to $27.7m.
Gross gaming revenue (GGR) from the DraftKings-powered Scoreboard sportsbook was significantly higher than the $598,061 generated in May 2020, though last year’s figures were impacted by the novel coronavirus (Covid-19) pandemic, with players’ betting options limited due to the cancellation of many sports events.