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Gambling in the USA

New York Jets search for a sponsor from gambling industry

Niji Narayan

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New York Jets search for a sponsor from gambling industry
Photo Credit: AP
Reading Time: 2 minutes

 

In an obvious sign of the growing popularity of the newly legalized sports betting in the country,  New York Jets, the NFL team from the New York Metropolitan Area, has started looking for a team sponsor from the betting industry. The team sponsorship is worth about $750,000 to $1 million for a year.

The NFL has already started to allow casino advertising at its stadiums. The Dallas Cowboys, another NFL team, has signed a first-of-its-kind partnership with WinStar World Casino of Oklahoma.

Only four months after the Supreme Court legalized sports betting, no fewer than eight New Jersey racetracks and casinos are expected to be up and running with in-person sports books by the time the 1 p.m. games kick off, and six will offer online sports betting for people in the Garden State.

Monmouth Park and Caesars Entertainment received final approval Friday from the New Jersey Division of Gaming Enforcement to take online bets.

The Hard Rock Hotel & Casino and Tropicana Atlantic City are still working on getting licensed and may be able to take bets in the near future, a source said.

The New Jersey law allows only racetracks and casinos to be able to offer sports betting. Both FanDuel And DraftKings have affiliations allowing them to offer online wagering to those in the state. The Meadowlands, while DraftKings has aligned with Resorts Casino Hotel.

Projections are that the Garden State will surpass Nevada in sports wagering revenue by 2021, according to Chris Grove, managing director at gaming analyst Eilers & Krejcik.

By that year, New Jersey sports books will be taking in $3.4 billion in sporting wagering revenue, with profits estimated at $442 million, according to Grove.

The $3.4 billion is roughly the same as the money that is presently bet on New Jersey state lottery tickets.

“In Nevada, about half of the total handle in the local’s market is bet through mobile devices,” Grove said. “We expect New Jersey to fall around a similar number.”

New Jersey taxes are 9.75 percent on brick-and-mortar bet profits, and 14.25 percent for online wagers.

New Jersey is the state with the largest population taking sports bets this football season. Next season, Connecticut, Oregon and Pennsylvania may be ready for action.

New York may not go live, at least for internet sports betting, until 2021, Grove said.

 

Source: nypost.com

Niji Narayan 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. He reports gaming industry headlines from all around the globe.

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Gambling in the USA

Interblock Signs License Agreement with National Hockey League

George Miller

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Interblock Signs License Agreement with National Hockey League
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Electronic Tables Games Decorated with all 31 NHL Team Logos

Luxury gaming manufacturer and electronic table game (ETG) market leader Interblock® announced it has signed a license agreement with the National Hockey League (NHL ®) to incorporate League and Team logos into Stadium and standalone products.

John Connelly, CEO of Interblock commented “The historical synergy between sports and table game players made signing a deal with the NHL all the more exciting.  This collaboration will create a new portfolio of Electronic Table Games designed to attract a new type of patron to casino floors across North America. The NHL has given Interblock the ability to feature all 31 team logos in the design of our machines, where available, across North America.  Interblock will begin introducing the initial products in Q1 of 2020.

 

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Gambling in the USA

Gaming Regulators Seek Ban on Steve Wynn from Nevada Casino Industry

Niji Narayan

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Gaming Regulators Seek Ban on Steve Wynn from Nevada Casino Industry
Photo Source: axios.com
Reading Time: 1 minute

 

Nevada gambling regulators have filed a complaint against Steve Wynn, saying that the casino magnate’s alleged sexual misconduct has damaged the industry’s reputation in the state. The complaint lists multiple instances of sexual misconduct allegations that have been lodged against Wynn since January 2018.

The 23-page complaint, filed to the Nevada Gaming Commission, says Wynn is “unsuitable to be associated with a gaming enterprise or the gaming industry as a whole.” Wynn has denied all misconduct allegations against him.

The move follows a $20 million fine the commission levied on Wynn’s former company in February to settle allegations that former executives failed to investigate claims of sexual misconduct against Wynn by female employees. Gambling regulators in Massachusetts levied a $35 million fine on the company in April but allowed it to keep a casino license for a Boston-area resort.

An investigation by the Nevada gaming control board detailed allegations that Wynn paid hush money to multiple women who claimed he had pressured them into nonconsensual sexual relationships.

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Gambling in the USA

Two new speakers added to Sports Betting USA roster

George Miller

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Two new speakers added to Sports Betting USA roster
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Senator Raymond Lesniak and Jamaal Lesane set to join stellar line-up

Two new speakers are to share their knowledge with delegates at next month’s Sports Betting USA conference in New York after being added to the roster.

Former New Jersey Senator Ray Lesniak and Jamaal Lesane, Senior Vice President, Legal and Business Affairs at The Madison Square Garden Company, will take to the stage on the second day the Metropolitan West.

Senator Lesniak, who was the instigator and driving force behind the legal battle that led to the repeal of PASPA, will deliver the keynote address.

Lesane is at the vanguard of venue owners looking to optimise in-stadia facilities for sports fans and will join the panel discussing the monetisation of the game day experience.

Sports Betting USA, which takes place 5-6 November and follows a one-day investor summit, will examine the opportunities and challenges of the wagering industry that has been estimated to be worth up to $150 Billion.

Event director Rory Credland believes the show, now in its third year, has a stronger line-up than ever and has become a must attend event for those with a stake in the growing market.

He added: “We’re delighted to welcome another two great speakers to Sports Betting USA and are confident they will have a lot to contribute to the exchange of knowledge.

“Senator Lesniak in particular needs no introduction and is one of the main reasons we are all gathering in New York. It will be fascinating to hear his take on the way other states can follow the lead of New Jersey in the coming months.”

Among the other highlights of this year’s show will be a presentation by New York Senator Joseph Addabbo Jr, who will share his state’s vision for sports betting as they look to include its legalisation in the 20/21 budget.

They will be joined by senior executives from leading operators, suppliers and media companies, including William Hill USA, Penn National Gaming and Sportradar, as well as representatives of sporting organisations including the NFL, NBA, NHL, MLB, MLS, PGA Tour, and NASCAR.

 

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