Browse articles by topic

State of the Union: New York, Flutter, Wyoming and more

Insight | Analysis

This week’s State of the Union, in partnership with Segev LLP, includes plans to legalize mobile betting in New York – albeit with a controversial regulatory structure – as well as a lawsuit filed by Fox against Flutter Entertainment.

New York set to legalize mobile betting following budget agreement

Governor of New York Andrew Cuomo has agreed the FY 2022 New York State Budget, which includes the introduction of mobile wagering in the state.

The governor, together with state senate majority leader Andrea Stewart-Cousins and assembly speaker Carl Heastie announced their agreement on the budget yesterday (April 6).

Under the budget legislation, the state will issue a request for applications and must select at least two platform providers, who will work with a total of at least four operators or skins.

Fox sues Flutter over pricing of FanDuel stake

Media giant Fox Corporation has filed an arbitration suit against Flutter Entertainment, as the businesses dispute the purchase price of Fox’s option to acquire an 18.6% stake in Flutter’s FanDuel brand.

Flutter offered Fox Bet this option when it agreed to purchase a further 37.2% stake in FanDuel from investment consortium Fastball for $4.18bn (£3.03bn/€3.52bn) in December 2020. That acquisition took Flutter’s stake in FanDuel to 95%.

At that time, Flutter said it “intends to offer to Fox Sports the option to purchase 18.5% of FanDuel at fair market value in July 2021”, though it has since referred to the stake being 18.6%.

Wyoming legalizes sports betting

The state of Wyoming has legalized sports betting after Governor Mark Gordon signed House Bill 0133 into law yesterday (5 April).

The bill was introduced in February by six state representatives and two senators.

North Carolina considers online sports betting in new bill

Lawmakers in North Carolina are to run the rule over a new bill that proposes legalizing online sports wagering in the US state.

Introduced in the state’s Senate by Senators Jim Perry and Paul Lowe, Senate Bill 688 would expand the North Carolina sports wagering market to allow online and mobile betting. Sports betting is currently only permitted via tribal operators.

Genius Sports agrees multi-year exclusive NFL data partnership

Sports data and content provider Genius Sports (Genius) has announced an exclusive multi-year distribution partnership that sees it become the official betting data source for the National Football League (NFL).

Genius will now distribute the NFL’s play-by-play statistics and Next Gen Stats data internationally, while acting as the official betting data source for global media and sports betting operators.

New York mobile betting legislation sets $25m license fee, details RFP process

New York’s budget bill, which contains provisions for legal mobile sports betting, has been published, revealing a $25m license fee and the bidding process for potential licensees.

As previously announced by Governor Cuomo’s office when the Governor and legislature came to an agreement on a state budget, the state Gaming Commission will issue a request for proposals to select at least two platform providers to operate sports betting. These two platform providers will receive licenses and together offer at least four betting skins.

US Congress to consider repealing 0.25% federal handle tax

The United States Congress is to consider a new federal bill aiming to remove a national 0.25% excise tax on sports wagering handle.

HB2350, also known as HR2350, proposes amending the Internal Revenue Code of 1986, specifically chapter 35, which relates to taxes on wagering.

Illinois in-person registration requirement returns

In-person registration has been re-introduced in the state of Illinois after Executive Order 2020-41, which suspended Illinois’ in-person registration requirement, expired at midnight on 3 April.

From 4 April onwards, new customers for sports betting operators will be required to register in person before being able to place any bets online.

Virginia sports betting handle reaches $265.8m in February

Consumers in Virginia wagered $265.8m on sports during February, but adjusted gross revenue (AGR) for the US state remained at a loss for a second consecutive month following high promotional spend.

Virginia opened its legal sports wagering market on January 21, with the amount bet in February being 351.3% higher than in the opening 11 days of activity.

Everi chairman Kilburn retires

Casino gaming provider Everi has announced the retirement of E. Miles Kilburn, chairman of its board of directors, with chief executive Michael Rumbolz taking over the role.

Kilburn will not stand for re-election at Everi’s 2021 Annual Meeting of Stockholders on May 19 2021, which will be his last day as chairman.

MGM introduces on-site Covid-19 testing in new business meeting plan

Hospitality and land-based gaming giant MGM Resorts has added on-site Covid-19 testing to its health and safety program, designed to facilitate the return of in-person business meetings.

The testing is part of the Convene with Confidence program, which outlines health and safety protocols for hosting events in person. MGM Resorts says the plan has already helped it host close to 300 meetings since the pandemic started.

Maine sports betting bill introduced in state Senate

A bill to authorize and regulate sports betting has been introduced in the Maine State Senate, echoing previous attempts.

Senate Bill 1352 was introduced by Senator Louis Luchini and calls for authorization of a sports wagering license for the state under the Department of Public Safety Gambling Control Unit.

GAN appoints Scientific Games’ Shore to lead investor relations

GAN has appointed former Scientific Games director Robert Shore to the newly created role of vice president of investor relations and capital markets.

Shore will lead GAN’s investor relations and capital markets efforts, including strategic engagement with the investor community and analysts around the gaming technology provider’s positioning in the digital gaming space.

Conscious Gaming appoints Blair Aronson as operations director

GeoComply-owned social responsibility solutions provider Conscious Gaming has announced the appointment of Blair Aronson as its new operations director.

Aronson previously worked as a director for SGDigital, the online branch of Scientific Games Corporation, and as the director of operations for the NYX Gaming Group before it was acquired by Scientific Games.

Delaware sees sports betting revenue increase in March

The Delaware Sports Lottery has revealed that the state saw a year-on-year increase in sports wagering revenue for March, by 27.1% to $966,752.

While this figure is still shy of the $1.7m posted in January, it is a 40.9% increase compared to March 2020.

Carousel Group launches MaximBet brand after xSigma investment

Sports betting operator Carousel Group (Carousel) is set to launch MaximBet, in conjunction with media brand Maxim, after a $50m investment from xSigma, a subsidiary of Chinese engineering business ZK International.

MaximBet will offer users sports betting and casino services under, both on its website and on iOS and Android apps. Bettors will be able to bet on casino and sports in the US and internationally.

Bally’s completes purchase of MontBleu Casino from Caesars

Bally’s Corporation has completed its previously announced acquisition of the MontBleu Resort Casino & Spa in Nevada from Caesars Entertainment.

Located in Stateline, Nevada, the MontBleu facility features a land-based casino with 418 slot machines and 17 gaming tables, as well as a 438-room hotel and 14,000sq ft of convention, meeting and exhibition space.

UFC commits to American Gaming Association’s responsible betting campaign

Mixed martial arts organization the Ultimate Fighting Championship (UFC) has pledged its support to the American Gaming Association’s (AGA) responsible sports betting initiative.

Under the arrangement, UFC will use its own in-venue, digital and broadcast assets to promote co-branded marketing materials with UFC themes to help promote the AGA’s “Have A Game Plan. Bet Responsibly” public service campaign.

FanDuel scores partnerships with Detroit sports teams

Flutter Entertainment-owned FanDuel has agreed new partnerships with Major League Baseball franchise the Detroit Tigers and National Hockey League team the Detroit Red Wings, as part of an expanded deal with Michigan’s MotorCity Casino.

Under the agreements, FanDuel will become an official gaming partner of both teams, with its sportsbook to benefit from branding placement on a range of surface inside the Tigers’ Comerica Park and the Red Wings’ Little Caesars Arena.

Identity solutions provider TransUnion enters US gaming market

Credit reporting agency TransUnion today announced its entrance into the US gaming market via its operating subsidiary TransUnion Gaming Services (TGS).

TGS will assist operators across several states with identity fraud solutions, as well as supporting online sports betting and casino operators’ marketing efforts. It said it would offer its TruValidate product suite to these operators.