News and Analysis
What's Hot: NY Announces Sports Betting Licensees.
New York has picked the two mobile sports platforms that will receive state licensing. The winners are the FanDuel (comprising DraftKings, BetMGM, and Bally Bet) and Kambi led proposal (including Caesars Sportsbook, PointsBet, Resorts World, Rush Street Interactive, and Wynn Bet).
The winning bids proposed 51% gross state tax revenue, with operators paying a $25m fee for ten-year licenses. The tender opened in July and saw two other proposals submitted (a competitor bid from Kambi and an independent application from bet365).
PointsBet Chief Exec said of the outcome: “Today’s news of being recommended by the New York State Gaming Commission marks an exciting moment for us at PointsBet. […] Having the potential to secure market access to New York state – expected to be one of the largest and most important markets in the United States – represents another major milestone for our company, our brand, and our technology.”
PGCB Hands Out Triple Operator Fine
Meanwhile, in Pennsylvania, the PGCB has been busy issuing three fines, totaling $150,000. The penalties included one to Mountainview Thoroughbred Racing Association (Hollywood and Barstool platform operator) for not upholding self-exclusion orders and allowing players to access the operator’s gambling platforms.
All we have to say is that we hope Mountainview has learned its lesson and doubles down on its exclusion protocol. What’s more, it’s good to see that the PGCB is putting online player protection and responsible gambling at the forefront of regulation.
Hard Rock Opens Temporary Illinois Casino Branch
This week Hard Rock has opened Rockford Casino, Illinois. The establishment is a temporary branch of what will become a permanent casino establishment in the state. The temporary casino is located one mile from the location of the permanent site and currently holds 625 slots. It is open 24/7 and has a Hard Rock commercial center on-site. The temporary and permanent venues are expected to provide more than 1,000 jobs locally and result from the 2019 Gaming Expansion Bill, Illinois.
Will Sports Betting Go To The Ballot in California?
Four California tribal operators have proposed the Age Verified Tribal Online and In-Person Sports Wagering & Homelessness Solutions Act. The act will bring retail and online sports betting to the state under tribal and state regulation if passed.
The proposal makes compelling arguments that tribal operation is the safest course for sports betting implementation. It also proposes a contribution rate of 10% of gaming revenue going to the California Homelessness and Mental Fund and donating 10% of its GGR to the Tribal Sports Wagering Revenue Sharing Trust Fund on top of state taxes.
The proposal requires signatures from 8% of the electorate from the previous gubernatorial election. If it gains the necessary support, the proposal will appear on the November 2022 ballot. If the bill passes the vote, it can come into effect from September 2023.
High 5 Games Scores WV Supplier License
High 5 Games has this week secured immediate permission to offer its games in West Virginia. The online and mobile slot provider secured its supplier license from the West Virginia Lottery and will go live with top titles like Retro Riches, Triple Double Da Vinci Diamonds, and loads more from early 2022.
Pariplay Hits BetMGM NJ and MI
In more games software news, Pariplay has secured a double deal this week after agreeing on a distribution deal with BetMGM NJ and MI. Under the agreement, Pariplay will provide its in-house games and third-party content to BetMGM players. Pariplay’s Fusion platform includes 120 of the supplier’s proprietary games with over 1,000 third-party options.
Record-Breaking Third Quarter for US Gambling Revenue
The American Gambling Associations’ commercial gambling tracker has reported the second record-breaking quarter in a row for US gambling. That’s $13.89bn in GGR, bringing the total for the year so far to $38.67bn. Here are the key findings from Q3:
- Sports Betting revenue is growing rapidly, showing a 153.1% YoY increase.
- Online gaming grew 4.1% from Q2.
- Slot games generated $9.56bn and tables, $2.49bn (traditional gaming revenue).
- Ten land-based gambling states set revenue records, including NJ, PA, NY, and NV.
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