Welcome to the Weekend Report, where iGB updates you with the stories you may have missed over the last few days.
FanDuel still the US leader
A new report from Jefferies shows FanDuel is leading the US sports betting market.
Of the 11 states to have reported online sportsbook revenue for May, FanDuel captured 45% gross gaming revenue market share. DraftKings was second with 36%, followed by BetMGM (6%), Fanatics (3%) and ESPN Bet (2%).
Mavericks owner: Patience on Texas gambling
Patrick Dumont, the governor of the NBA’s Dallas Mavericks, is unsure when gambling will be legalised in Texas.
Despite progress seemingly being made last year, Texas remains one of the biggest US states without a legal sports betting market. The state legislature meets only in odd years, so the next opportunity is 2025.
Dallas Stars president says sports betting legalization is still a difficult proposition in Texas… 🌟🌟
Legislators in Texas are still trying to legalize sports betting. It's been a few years now, but they still have the same problem. https://t.co/JJ9emE4AGq#sportscasting— Sportscasting (@Sportscasting19) June 12, 2024
Dumont, who is also president and chief operating officer of Las Vegas Sands, says he’s uncertain of if and when Texas will legalise gambling, as reported by Associated Press.
“We’re patient,” Dumont said. “We think long term. We’re not people who think in the short term.”
High-end gambling outpacing lower tiers in Vegas
Carlo Santarelli, a Deutsche Bank analyst, says high-end gaming is outpacing lower tiers in Las Vegas.
In a note to investors, Santarelli revealed Las Vegas has enjoyed 12 consecutive quarters of gaming revenue growth since the end of the Covid-19 pandemic, with high-end gaming boosted by sporting events in the region, such as Formula One and the Super Bowl.
Santarelli noted lower to mid-tier properties had “largely peaked” and started to decline. Higher end properties, meanwhile, were profiting from being able to charge higher prices.
Four finalists for new Nebraska commission director
The Nebraska Racing and Gaming Commission will select one of four finalists for its new executive director, according to the Lincoln Journal-Star. Board chairman Dennis Lee expects the process to be completed by August.
Interim executive director, Casey Ricketts, who replaced Tom Sage when he stepped down in January, is among the candiates. The others are Seward mayor Joshua Eckmeier, State Senator John Lowe and former policy analyst Laurie Holman.
