News and Analysis
AGA: New Revenue Record for First Quarter 2023
US commercial gaming revenue has hit a new quarterly record of $16.60 billion for Q1 2023. According to the AGA, this makes it the eighth consecutive record-breaking quarter. The highlight was March, which accounted for $5.90 billion.
MA Sports Handle Over $566 Million in First Month
Online gambling in Massachusetts is off to a flying start as the official sports handle for the first month is $566.2 million! The MA legal sports betting market comprises six operators, BetMGM, DraftKings, Caesars, Barstool, WynnBet, and FanDuel, with DraftKings leading revenue, Fanduel in second, and BetMGM in third.
Fanatics and PointsBet: What's the Deal?
Fanatics Betting and Gaming have struck a deal to acquire PointsBet US for $150 million. PointsBet will retain its Canadian and Australian operations. The agreement is subject to regulatory and shareholder approval.
Texas on Sports Betting
The Texas House of Representatives has voted through a constitutional amendment bill allowing Texan voters to approve or say no to legalizing online sportsbooks. HJR 102 passed by 101:42 on May 11th. Should voters pass the measure on November 7th, the Texas Constitution will be amended to allow for legal sports betting.
HJR 102 is accompanied by HB 1942, which introduces the infrastructure of the market and regulatory regime. The bill includes a 15% tax rate and a $2 million application fee, making the Texas Lottery Commission the licensing authority.
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