This week’s State of the Union, in partnership with Segev LLP, covers the latest monthly revenue figures for the Indiana and New York sports betting markets, as well as regulatory developments in Montana and Missouri. Meanwhile, Michigan, after a year of negotiations, looks set to finally legalize online betting and gaming.
Michigan betting and gaming bills passed by Senate
A year of negotiations look set to conclude with bills to legalize online gaming and sports betting passing into law in Michigan, after the Senate passed Representative Brandt Iden’s proposals by significant margins.
The bill to regulate sports betting, House Bill 4916, was passed by the Senate with 35 lawmakers voting for the bill, and just three against. The online gaming bill, HB4311, passed by the same margin.
This followed each bill being approved by the chamber’s Committee of the Whole, having been ratified by the Regulatory Reform Committee, following significant changes.
IN betting revenue dips as digital drives handle growth in November
Indiana’s regulated sports betting market saw strong growth in customer stakes in November, though revenue declined month-on-month, according to the latest figures from the Indiana Gaming Commission.
Total handle grew to $147.3m, a 60.6% improvement on the prior month, and a clear indication that digital is now established as the preferred channel for sports bettors. However revenue was down 19.4% from October to $9.3m, suggesting a total hold of 6.3% across all 11 licensees.
Stakes placed via desktop and mobile devices accounted for $96.2m, or 65.3%, of amounts wagered in November, double October’s handle.
New York sports betting revenue slips 40.9% in November
New York’s four licensed sportsbooks generated $1.3m in gross gaming revenue during November, the lowest monthly total since the market opened.
The November result represents a month-on-month decline of 40.9% on $2.2m in October, during which New York fell just short of its monthly revenue record of $2.3m, set in September.
Since the regulated market opened on July 16 this year, New York’s sportsbooks have generated a collective $6.0m in sports betting revenue. The state generated $349,468 during the first full month of legal wagering in August.
Delaware sports betting revenue declines again in November
Delaware’s sports betting revenue declined for the second consecutive month in November, with the state’s three licensed sportsbooks bringing in $1.4m.
This was despite a higher handle and a greater number of wagers placed than in October.
Players staked a total of $10.3m in the four-week period ending on 24 November, down 35.9% from November 2018, while the number of bets placed fell 18.8% to 285,910. Revenue also fell 66.2% year-on-year, to $1.4m.
Montana launches sports betting licensing process
The Montana Lottery is now accepting license applications from businesses looking to offer the lottery’s new sports betting product, Sports Bet Montana.
The licensing process has kicked off after the state’s sports wagering rules were published in the Montana Administrative Register last week, having been approved by the Montana Lottery Commission in November.
“Today is a big day for Sports Bet Montana,” Montana Lottery director Angela Wong said. “We’ve been working a long time for this and we’re excited to see that hard work pay off and excited to start the process of launching sports betting.”
Louisiana Gaming Board and Attorney General endorse ICE North America
Louisiana’s gambling regulator – the Louisiana gaming board – and the office of the state attorney general have both endorsed Clarion Gaming’s ICE North America, which will be hosted in New Orleans on 13-14 May, 2020.
Christopher B. Hebert, director of the Gaming Division of the State of Louisiana Attorney General’s Office said described industry conferences are extremely important in order to educate stakeholders on legal and regulatory topics
Competing sports betting bills pre-filed in Missouri
Senators in Missouri have pre-filed two proposals to regulate sports betting in the state, which will be discussed when the legislature returns on January 8, 2020.
Senator Denny Hoskins appears to have resurrected the key elements of a proposal he put forward during the 2019 legislative session with Senate Bill 567, which looks to legalize betting on riverboat casinos and via internet platforms.
Riverboat gambling operators and internet platform providers will need to secure authorisation from the Missouri Gaming Commission, which will require an application fee of $25,000. The internet platform providers would then have to pay an annual renewal fee of $50,000.
British Columbia to establish independent gambling regulator
The British Columbia government has revealed plans to transition the powers of the Canadian province’s gambling regulator Gaming Policy and Enforcement Branch (GPEB), to a new body.
Through amendments to the province’s Gaming Control Act, the Independent Gambling Control Office (IGCO) will focus on regulatory policy matters related to gambling, horse racing and responsible gambling programs.
California cardroom pays $3.1m to settle AML case
California Attorney General Xavier Becerra has announced the Los Angeles-based cardroom Hawaiian Gardens Casino has agreed a $3.1m settlement with his office for misleading gambling regulators.
The venue was also found to have violated the Bank Secrecy Act, a federal law aimed to combatting money laundering.
National Council on Problem Gambling unveils advisory board
The National Council on Problem Gambling (NCPG), the US organization for people affected by problem gambling and addiction, has announced a new advisory board, featuring a number of executives and senior personnel from across the industry.
The new board will provide advice and guidance to the NCPG in its efforts to support individuals and their families suffering from gambling-related problems.
IGT launches sports betting with tribal operator in NY
International Game Technology (IGT) has launched sports betting for the Akwesasne Mohawk Casino Resort in Akwesane, New York, the third venue to roll out its PlaySports technology in the state.
The deal was been struck through The Stars Group’s market access agreement with the Saint Regis Mohawk Tribe, which operates the casino. That deal included a component for Stars to power a retail betting product at the venue, which appears to have been entrusted to IGT.
DraftKings commits to National Council on Problem Gambling
Sports betting and daily fantasy sports operator DraftKings has signed up as a platinum member of the National Council on Problem Gambling (NCPG), the US body that advocates for the treatment for those affected by problem gambling and addiction.
DraftKings will support the NCPG with its ongoing efforts to both develop and implement responsible gambling practises in legalized sports wagering as it continues to expand across the US.
Scientific Games extends with Massachusetts Lottery
The Massachusetts Lottery has extended its retail management deal with Scientific Games for a further three years.
Under the renewed agreement, Scientific Games will provide a new lottery retail management system to the Lottery, to connect its network of over 7,500 retailers.
Eldorado’s Caesars deal gets approval in Missouri
Eldorado Resorts is a step closer to completing its $17.3bn (£13.3bn/€15.6bn) acquisition of Caesars Entertainment Corporation after receiving regulatory approval in Missouri.
The state’s gaming commission gave its green light to the deal, which was announced in June and is expected to complete in the first half of 2020.
Stats Perform hands senior roles to Steve and Peter Hirdt
Sports data provider Stats Perform has handed senior positions to brothers Steve and Peter Hirdt, two of the leading names in US sports broadcast research and content.
Steve Hirdt will take over as senior director of operations and research at Stats Perform, while Peter will serve as senior director of content and broadcast service. Both will join the provider from the Elias Sports Bureau.