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Gambling in the USA

Caesars’ entry boosts sports betting in Indiana

Niji Ng

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Caesars’ entry boosts sports betting in Indiana
Photo Credits: Shutterstock
Reading Time: 3 minutes

Caesars Entertainment, one of the premier gaming companies in the USA, has acquired Centaur Gaming, an Indianapolis-based company that owns several Indiana casino and racetrack facilities. The $1.7 billion purchase will allow Caesars to enter Indiana gaming market, where sports betting has already legalised.

Two of the well-known casinos in the state – Hoosier Park in Anderson and Indiana Grand in Shelbyville – apart from three off-track betting parlours have reached Caesars’ fold as part of the deal.

Caesars now owns more than 50 casinos and hotels worldwide, including two more of Indiana’s 13 casinos. The Nevada-based company already owned the Horseshoe Hammond and the Horseshoe Southern Indiana. Now Caesars owns four total casinos in Indiana, but the purchase of the last two was not without controversy.

Indiana law dictates a $50 million transfer fee to the state government for casino purchases, a charge both Centaur and Caesars disputed. Caesars even went so far as to threaten to stop a $90 million expansion project on its Horseshoe Southern Indiana facility.

In approving the purchase, the Indiana Gaming Commission fined Caesars $1 million for the threat, which never came to fruition. The Indianapolis Star reported the companies will not avoid the fee and the state expects to receive its $50 million as part of the transfer.

With the purchase finalised, the state’s gambling interests turn to when, or if, the state legislature will legalise sports betting.

Indiana Lawmakers Look to Debate Sports Betting

Legislation introduced in Indiana’s 2018 session in Indianapolis gives the state a head start for the 2019 session, the earliest lawmakers would likely discuss any sports betting bill. But the initial bills picked up little momentum in the statehouse last year and legislatures seemed divided on many of the same issues other states have wrangled with – assuming there’s political capital to pass a bill at all.

According to the Fort Wayne Journal Gazette, lawmakers still have to discuss permitted wagering locations, tax rates, mobile accessibility and revenue distribution. There’s also concerns about bets on amateur events, which is complicated by the NCAA. The organisation is headquartered in Indianapolis and was the primary defendant in the Supreme Court case that ultimately struck down the federal ban on sports betting.

If lawmakers pass a final bill through both houses, it will also need the approval from Gov. Eric Holcomb. The Journal Gazette reported the governor previously declined to comment on the prospects of approving a sports betting bill, saying it wasn’t a priority.

Still, lawmakers have viewed it as more of a priority than the governor and are undertaking a study of sports gambling’s’ impact on the state. Multiple lawmakers said they will file bills in time for the 2019 session where it will likely gain more traction than in 2018.

Out-Of-State Developments Could Spur Action

The progress and templates set by early sports betting adaptors could not only spur action but lay out a framework in Indiana.

Along with Nevada’s long-standing sports betting legalisation, Delaware, New Jersey, Rhode Island, Mississippi and West Virginia have all approved sports wagering and all will have taken bets before the end of the year. Several other states, notably Pennsylvania and New York, are working towards a system to take sports bets as well.

They’re far from alone. Several midwestern states, including neighbouring Illinois, have discussed sports betting at length and appear at the very least open to gambling expansion.

Kentucky, Indiana’s southern neighbour, has also made strides towards sports betting. A bipartisan group of lawmakers from both Bluegrass State legislative bodies have formed a bill that lays out their solution to many of the sports betting questions debated by their colleagues on the north side of the Ohio River.

Developments by Indiana’s neighbouring states combined with the increased presence of Caesars, a gambling industry leader long accustomed to handling wagers on sports, could sooner than later help push sports betting in the Hoosier State forward.

 

Source: gambling.com

Niji has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. Besides reporting industry headlines from all around the globe, Niji is also head of the content management team at Impressions Content Management, based in Kerala, India, which offers writing and editing services to clients around the world.

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Gambling in the USA

Kansas Lottery posts positive revenue reports

Niji Ng

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Kansas Lottery posts positive revenue reports
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The Kansas Lottery reported impressive figures for the fiscal year 2018. The results almost match the all-time combined transfer record for traditional lottery and casinos.

The state of Kansas received through the sale of traditional lottery games US$74.7 million in revenue. The four casinos with state-owned and state-operated gaming also totalled US$89 million in revenue. Combined, traditional lottery and casino revenue totalled US$163.7 million transferred to the State in Fiscal Year 2018, slightly below the record combined transfer of US$163.9 million in the fiscal year 2016, WIBW News reported.

Traditional lottery sales in FY18 were US$283.2 million, 4.3 per cent ahead of last year’s sales of US$271.4 million. “I’m grateful to our retailers, staff and players for the good year we’ve had,” said Kansas Lottery Executive Director Terry Presta, and added: “Instant tickets continue to grow as our biggest category. We are up in the two big multi-state jackpot games Powerball and Mega Millions, and sales show players are enjoying our new games, Lotto America and Lucky for Life.”

“While I’m very pleased with this year’s results, it’s next fiscal year that’s going to be the real game changer,” continued Presta. “The Kansas Lottery hopes to have vending machines in stores sometime next calendar year, and our new partner Scientific Games is providing us with a brand new state-of-the-art gaming system with incredibly fast terminals and a whole new central system that’s scheduled to go live at the end of this month. These changes will help create revenue next year and in years to come.”

 

Source: focusgn.com

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Gambling in the USA

Three Casinos line up for Pennsylvania iGaming license

Niji Ng

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Three Casinos line up for Pennsylvania iGaming license
Photo Credits" G. Widman for Visit Philadelphia
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Three casinos – Parx Casino, Mount Airy and still-to-start Stadium Casino – have submitted their application for a Pennsylvania iGaming license.

Parx Casino Bensalem became the first land-based “Main Certificate” holder in the Keystone State to apply for a Pennsylvania iGaming license, according to a report by Jessica Welman of PlayPennsylvania.

Within hours, two other casinos – Mount Airy and the yet-to-be-built Stadium Casino – also submitted their applications to the Pennsylvania Gaming Control Board.

Welcome News for Pennsylvania Online Poker Players

Pennsylvania online poker players will be happy to learn that Parx Casino parent company Greenwood Gaming & Entertainment “wants all three interactive gaming licenses” (online slots, house-edge table games and poker) that are being made available by the state.

The total cost for the three licenses will be $10,000,000 USD.

Deadline to Receive Discounted Pennsylvania iGaming License is Sunday, July 15th.

There had been plenty of nerves from iGaming analysts and customers in the Keystone State leading up to this weekend, as land-based casinos held off until the last possible moment to apply.

Pennsylvania’s ginormous 54 per cent tax rate for online slots is a contentious issue with incoming operators who believe it will be hard for online businesses to turn a profit in PA.

There are also other issues dealing with PA Lottery games crossing over into the realm of slot machine mechanics, as well as doubts as to how consumers will perceive branding restrictions that mandate all iGaming services in the state be hosted on websites that clearly identify existing land-based Main Certificate Holders.

Pennsylvania brick & mortar casinos will still be eligible to apply for iGaming licenses following this Sunday, but will not receive a discounted rate of $10 million for all three licenses – and instead will have to pay $4 million for each.

Will Pennsylvania iGaming License Holders Begin Operations in 2018?

There has been much speculation as to whether real money online poker, slots and house-edge table games will be available to Pennsylvania residents and tourists before the end of the calendar year.

While this remains a distinct possibility, it will depend on how quickly the licenses from Parx, Mounty Airy, Stadium (and potentially other PA casinos) are approved by the PGCB.

Many poker players who already compete in regulated Nevada, New Jersey or Delaware games are also asking if Pennsylvania will eventually join the tri-state online poker compact that combines player pools in those three states.

 

Source: parttimepoker.com

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Gambling in the USA

William Hill makes a strong start in New Jersey

Niji Ng

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William Hill makes a strong start in New Jersey
Photo Credits: i5design.com
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William Hill has made a “great start” in New Jersey, as more than $16m (£12.2m/€13.8m) was wagered in sports betting during the first two weeks of its entry.

William Hill started out in New Jersey at Monmouth Park racetrack on June 14. The Borgata casino in Atlantic City went live on the same day while William Hill’s Ocean Resort sportsbook began trading on June 28.

Figures released by New Jersey’s Division of Gaming Enforcement show that a total of $16.4m was wagered between June 14 and the end of the month. Operators retained 8 per cent of the amount wagered, which would be around $1.2m.

Gross sports betting revenue was nearly $3.5m, with Monmouth Park bringing in $2.3m, the Ocean Resort contributing $193,000 in just three days of operations and the Borgata accruing $987,000.

William Hill US chief executive Joe Asher (pictured) said the figures show the “big appetite for legal sports betting” in the US.

“While it’s still early, we’re obviously off to a great start,” Asher said. “We always knew there was a big appetite for legal sports betting during the years of litigation, and now it is being proven.”

“We are proud to be creating new jobs in New Jersey and bringing excitement to our customers. We can’t wait until football season.”

Total gaming revenue in New Jersey increased by just over 7 per cent year-on-year to $233.6m, with sports betting aiding other gaming verticals according to Seeking Alpha’s Charles Schultz. “The extra traffic presumably helped in other gaming areas,” he said.

Meanwhile, two Ohio lawmakers are sponsoring a bill to legalise sports betting in the state.

Sean O’Brien told Cleveland.com he would like to have specifics in the bill by August or September. Ohio is the seventh largest US state by population with 11.5 million residents – three million more than New Jersey.

 

Source: igamingbusiness.com

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