Sports betting – Page 65

December 13, 2023

Bill Hornbuckle on MGM Resorts’ global growth ambitions

MGM Resorts’ home town of Las Vegas evolved beyond all recognition during Bill Hornbuckle’s time in gaming, but it’s not the only show in town. He’s eyeing up expansion across a range of global markets and expanding into new channels.

Things are booming in MGM Resorts’ home town, but it’s much more than a Vegas-based business. Hornbuckle leads global development efforts and having taken MGM into Macau he’s still looking east.

MGM Resorts looks east

Japan’s ministry of land, infrastructure, transport and tourism certified plans for a $10bn integrated resort in Osaka in April. After finalising agreements with Osaka Prefecture and City, construction can begin on the property.

Marginally closer, opportunities are emerging in the United Arab Emirates. First Wynn sealed an agreement for a resort in Ras al-Khaimah. Then a federal regulator, the General Commercial Gambling Regulatory Authority (GCGRA) emerged paving the way for resorts in other Emirates.

MGM is focused on Dubai, Hornbu..

December 13, 2023

Fanatics soft launches sports betting in Connecticut

The Fanatics Betting and Gaming (FBG) subsidiary of Fanatics has announced the soft launch of online and retail sports wagering in Connecticut.

This week, the Fanatics Sportsbook will accept 2,000 online players in the state. A full launch will follow in Connecticut from 18 December.

Players in Connecticut can download the Fanatics Sportsbook to wager online. Consumers can also visit any of 10 retail sports betting locations to bet in person.

The soft launch comes less than two weeks after FBG was named as the new sports betting partner of the Connecticut Lottery Corporation (CLC).

This agreement designates Fanatics Sportsbook as the Connecticut Lottery’s exclusive sports betting partner across mobile and retail betting. The transition had been expected to occur in mid-December.

Fanatics replaces Rush Street Interactive in Connecticut

FBG takes the place of Rush Street Interactive (RSI), the Connecticut Lottery’s former sports betting partner. The two parties announced that they..

December 13, 2023

Colorado sports betting handle tops $554m in October

Players in Colorado spent $554.9m (£442.9m/€514.5m) betting on sports in October, with online wagering accounting for more than $500.0m of this total.

Sports wagering handle in Colorado was 5.4% ahead of $526.6m in October of 2022. The monthly total was also 8.2% more than $512.8m in September this year.

Of the total amount wagered, $550.4m was spent online and $4.4m at retail sportsbooks across the Centennial State.

Turning to gross gaming revenue, Colorado operators generated $46.9m in October. This was 28.5% higher than $36.5m last year and also 3.5% ahead of September’s $45.3m total.

Online betting generated $47.0m in revenue but a $90,005 loss from retail pushed the total figure down slightly.

American football drew the most bets, with players wagering $185.2m across online and retail. Basketball followed with a handle of $63.4m, then college football on $51.8m.

Other stand-out sports in Colorado included baseball with $38.3m in bets and tennis with $32.9m. Meanwhile, parla..

December 13, 2023

Brazil’s senate votes to approve sports betting – igaming removed

Brazil's senate plenary voted yesterday (12 December) to approve the amendments to Bill 3,626/2023, which will regulate sports betting. However, igaming was removed from the bill.

Originally scheduled for 6 December, the vote was delayed due to a lack of available senators to vote.

The bill was presented by Senator Angelo Coronel to the senate yesterday evening. It contained the latest round of amendments following initial approval of the bill three weeks ago by Brazil’s Economic Affairs’ Commission.

While the bill faced significant opposition, three key highlights were focused on in yesterday’s voting session.

The first, and most notable, is that the senate voted to remove igaming from the bill. The amendment was presented by Senator Carlos Portinho, with 37 votes in favour of excluding igaming and 27 against.

In addition to the exclusion of igaming, the senate also voted to exclude virtual games and sports betting terminals. An amendment that would prohibit sports betti..

December 12, 2023

IMG wins exclusive media rights for 85 CAF territories until 2025

IMG will be the sole distributor of international media rights of the next two Africa Cup of Nations tournaments.

IMG has become the sole distributor for 85 of the Confederation of African Football’s (CAF) territories between 2023 and 2025.

The agreement, announced on Monday (11 December), sees IMG win exclusivity to distribute the international media rights of events in 85+ CAF countries. The deal does not include territories in the Middle East and North Africa, sub-Saharan Africa and other selected areas.

The arrangement secures IMG the management of broadcast deals ahead of the next two editions of the Africa Cup of Nations (AFCON).

The tournament will be held in the Ivory Coast early next year and then Morocco in 2025. IMG also holds the rights to the qualifiers for the next two editions of Africa’s most prestigious international competition.

Other events included in IMG’s deal are the Women’s AFCON in 2024, as well as the CAF Champions League.

IMG and CAF deal will “unlock g..

December 12, 2023

Sportradar scores global tennis data and streaming deal with ATP

Sportradar has agreed a global data and streaming rights deal with Tennis Data Innovations (TDI), a joint venture vehicle of the Association of Tennis Professionals (ATP) and ATP Media.

The multi-year deal grants Sportradar data and streaming rights for betting, as well as media data rights. The agreement covers all tennis events on both the ATP Tour and ATP Challenger Tour.

Sportradar said the partnership will focus on driving commercial growth for tennis and also improving fan engagement opportunities. This will include developing new betting and media products.

From this month, Sportradar will use its ATP Service+ suite of solutions to boost engagement with fans by providing value-added products and services. Features in ATP Service+ include augmented streaming, expanded in-play betting markets, video highlights and personalised and targeted betting products.

Sportradar will also work with TDI to create products for media. These, it said, will showcase more in-depth statistical..

December 12, 2023

Iowa sports betting handle rises again in November

Players in Iowa wagered $289.7m (£230.5m/€268.8m) on sports during November, up 17.1% on last year and the highest monthly total since January 2022.

The monthly Iowa handle was higher than $247.5m in November 2022 and 13.5% ahead of $255.3m in October this year.

The total was also the most spent since a record $303.3m was wagered in January 2022, some 22 months ago.

Breaking this down, some $265.8m was spent betting with online operators and $23.9m at retail sportsbooks across Iowa.

As for revenue, operators generated a total of $14.1m in November. This was 143.1% higher than $5.8m last year, although the November 2022 figures were hit by multi-million-dollar winning bet payouts to US businessman Jim “Mattress Mack” McIngvale.

However, the November revenue figure in Iowa was 33.5% behind the $21.2m generated in October this year. This was due to consumers winning significantly more in November ($275.6m) compared to October ($225.3m).

Of the revenue total, $12.6m came from online ..

December 12, 2023

Kentucky online sports wagers reach $323.6m in opening weeks

Consumers in Kentucky spent $323.6m (£257.2m/€300.2m) betting on sports online during the opening weeks of the Bluegrass State’s newly regulated market.

Kentucky launched legal online sports betting on 28 September. This followed the roll out of retail wagering on 7 September, with online delayed as part of a staggered launch.

The Kentucky Horse Racing Commission (KHRC) has now published figures for the opening weeks of the market. This data covers the final three days of September and the whole of October.

During this period, online bets amounted to $323.6m. This included $36.8m across the three days of September and $286.8m in October.

Adjusted gross revenue from online betting for the period reached $54.2m. Some $1.5m was generated in the final days of September, while revenue in October hit $52.7m.

FanDuel edges out DraftKings in Kentucky

Looking at individual operators, FanDuel led the way in the opening period. Partnered with Churchill Downs, FanDuel took $20.3m in revenue ..

December 11, 2023

FanDuel lobbied against New York rules on advertising near colleges

FanDuel Group lobbied against rules that prohibit advertising sports betting near colleges and universities in the state, according to unredacted documents released by the New York State registrar.

Updated rules on sports betting in New York were introduced in October. This came after the New York State registrar considered opinion from various licensees, including Flutter Entertainment-owned FanDuel.

The ban on betting adverts near education establishments is now in place. However, state registrar documents now show that FanDuel voiced its opposition to such a move.

NEW YORK STATE REGISTRAR DOCUMENTS SHOW FANDUEL LOBBIED AGAINST ADVERTISING NEAR COLLEGES

Dated 18 October, the document said FanDuel objects to a ban on adverts in the “area of a college or university campus”. This, the document says, may be interpreted to “include unaffiliated residential and commercial areas that border a college or university campus”.

However, the New York State Gaming Commission disagreed. The r..

December 11, 2023

New York sets $2.11bn handle record in November

Consumers in New York spent $2.11bn (£1.68bn/€1.96bn) betting on sports online during November, a new record for the state and the highest amount ever bet in any US state in a single month.

The November figure surpassed the existing New York record of $2.01bn set in October this year by 5.0%. New York in October became the first state to take over $2.00bn in legal sports bets in any given month.

The amount wagered in November was also 36.1% ahead of $1.55bn in the same month last year.

Online revenue for the month reached $150.9m. This was 9.3% behind the record $166.3m set in October but 1.8% higher than $148.2m in November 2022.

Out in front in New York with FanDuel

Flutter Entertainment-owned FanDuel stretched its lead in New York in November. Players spent $923.4m wagering on sports with FanDuel, with revenue reaching $69.2m for the month.

Long-time rival DraftKings was second with a $723.1m handle and $54.3m in revenue. Next was Caesars, taking $205.0m in bets and posting re..

December 8, 2023

Stats Perform pens 2030 extension to WTA rights data deal

Data provider Stats Perform has penned an exclusive agreement to continue as the rights partner of the Women’s Tennis Association (WTA) until 2030.

Stats Perform will continue to be the exclusive data rights partner of the Women’s Tennis Association (WTA) after signing an extended deal.

Under the agreement, Stats Perform will continue to serve as the official data supplier of the WTA. The deal will see the provider deliver an exclusive umpire-derived data feed for matches and an ultrafast data feed collected by the supplier’s Opta analysts.

Data collected by Opta analysts will include detailed match statistics, including rally and shot level. This, Stats Perform says, will increase the level of live insight available for WTA matches. It will also help power a new range of broadcast, second screen and betting experiences.

Extended until 2030

Stats Perform signed an initial six-year contract back in 2020 to become the WTA’s official data supplier. This fresh renewal, announced on..

December 7, 2023

Fitch “neutral” on global gaming outlook for 2024

Fitch Ratings forecasts global gaming outlook for 2024 as “neutral”, citing pullback in certain US markets and potential stagnation in Europe.

A new report from Fitch Ratings forecasts the global gaming outlook for 2024 as “neutral”.

It is the second straight year Fitch has selected a “neutral” view for its gaming outlook. Fitch cited “slight pullback” from the “pent-up demand” in the United States as one of the reasons for its classification.

In general, the US is still performing well after a “robust” 2022. However, Fitch’s 6 December report details how regional gaming is showing some indication of stagnation.

Elsewhere, Asia Pacific is flourishing under improved demand thanks to the mass market returning after the Covid-19 pandemic. Singapore, meanwhile, continues to “perform above expectations”.

Limited regulation in the Middle East and Africa (part of EMEA) is proving beneficial, alongside the rise in US online profitability. Over in Europe, The UK Gambling Act review is exp..

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Tag: Sports betting