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State of the Union: New York, Illinois, Rhode Island and more

Insight | Analysis

This week’s State of the Union, in partnership with Segev LLP, saw some states rise to new heights in monthly revenue while operators formed sports partnerships.

New York takes less than a month to smash US monthly betting handle record

Despite being in its first month, New York surpassed the all-time US monthly record for sports betting handle this week. Customers staked a total of $1.63bn, beating New Jersey’s record of $1.30bn set in October last year. The amount was recorded in the first 23 days of the market going live.

Bally’s forms committee to assess $2bn takeover bid

Bally’s Corporation has fashioned an independent special committee to assess the takeover bid of $2bn (£1.48bn/€1.77bn) submitted by hedge fund Standard General in January. The committee, which is made up of independent and disinterested directors, will evaluate the proposal and consider potential strategic opportunities.

Boyd Gaming breaks quarterly records in strong end to 2021

Boyd Gaming saw revenue of $879.8m in the October-December 2021 period, a substantial increase from $635.9m recorded in the same period in novel coronavirus (Covid-19) hit 2020.

Its full year results also rose considerably, coming in at $3.4bn in 2021 compared to $2.2bn in 2020. Gaming revenue made up $2.7bn of the overall total.

Oregon’s Flying Lark signs up Agilysys hospitality services

The Flying Lark gaming facility in Oregon, which is currently under construction, chose Agilysys’ cloud solutions to power its hospitality services.

Agilysys’ products will be used across The Flying Lark’s bars, restaurants and in its gaming floor.

WynnBet joins the fray in New York’s mobile betting market

Wynn Resorts’ online arm WynnBet became the latest operator to debut its online sports betting services in New York.

WynnBet received market access in New York through a partnership with Oneida and St Regis Mohawk.

Everi acquires payments solutions provider Ecash

Everi Holdings acquired Australia-based gaming payment provider Ecash Holdings in an AU$43m deal.

Everi has initially paid AU$20m for the business, with two additional payments set to be made in 2023 and 2024.

Illinois breaks $7bn handle mark in 2021

Sports wagering in Illinois was recorded at $789.6m in December 2021, up 60.1% from the $491.7m wagered in December 2020.

This placed Illinois’ handle at over $7bn, making it the third state to do so- joining New Jersey and Nevada.

PointsBet soft launches sports betting in Pennsylvania

PointsBet soft launched its online sportsbook in Pennsylvania, days before the Super Bowl takes place.

PointsBet secured online sports betting and interactive gaming licenses in Pennsylvania in January in preparation for the launch.

RI sports betting revenue slips to five-month low in December

Rhode Island’s sports betting revenue fell by 52.0% year-on-year in December, totaling at $1.2m.

Contrastingly customer spending grew, rising by 140.8% in comparison to December 2020 and 4.2% more than the previous month.

AGA: Americans set to wager $7.61bn on Super Bowl LVI

The American Gaming Association (AGA) estimated that Americans could wager $7.61bn on Super Bowl LVI, which takes place this weekend.

If accurate this would be a 78% increase on the amount wagered on the 2021 game, which amounted to $3.33bn.

Fubo Gaming secures Ohio access deal with NBA’s Cavaliers

FuboTV subsidiary Fubo Gaming entered into a market access agreement deal in Ohio with National Basketball Association (NBA) team the Cleveland Cavaliers.

As part of the deal Fubo Gaming will become an official sports betting partner of the Cavs, when legal sports betting launches in Ohio.

The partnership will be promoted through an integrated marketing campaign comprising of co-branded signage and appearances on team radio and TV.

RSI expands Louisiana presence with New Orleans Pelicans deal

Rush Street Interactive entered into an agreement on behalf of its BetRivers Sportsbook to be an official partner of NBA franchise the New Orleans Pelicans.

The agreement will involve BetRivers branding featuring in the team’s Smoothie King Center home arena, and the venue’s Chairman’s Club being renamed the BetRivers Chairman Lounge.

OLG’s Proline becomes NFL’s first Canadian sportsbook partner

The Ontario Lottery and Gaming Commission’s (OLG) sportsbook brand Proline became the first sportsbook partner of Canada’s National Football League.

The agreement, which is set to last for five years, will see football content across and the NFL’s online platforms.

IBIA launches betting integrity monitoring service in US and Canada

The International Betting Integrity Association (IBIA) has announced that its integrity monitoring service would be rolled out across the US and Canada.

IBIA’s monitoring system currently covers 60% of the US online betting market.

PlayUp scores Texas access deal with Panther City Lacrosse

PlayUp has agreed to a deal with Texas-based Panther City Lacrosse Club, which will see PlayUp receive market access in Texas if sports betting is legalized in the state.

The deal will also see PlayUp become Panther City’s first sports gaming partner, fantasy sports partner, esports partner and founding partner.

Zynga beats revenue targets in 2021, as Take-Two takeover nears

Zynga saw its 2021 revenue hit $2.78bn, rising 41.8% from full year 2020.

Revenue from its fourth quarter came to $695.4m, creating a new record with a year-on-year rise of 12.9%.