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Gambling in the USA

Kansas lawmakers support sports betting

Niji Ng

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Kansas lawmakers support sports betting
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The recent Governor-elect Laura Kelly has pledged her support for allowing legalised sports betting in the state. There is no draft proposal in the fray during the upcoming session of the state, scheduled on January 14. Still, the topic is expected to be discussed. Senator Bud Estes, chairman of the committee that will be in charge of reviewing bills on the topic, said that sports betting will probably happen in some form, and encouraged lawmakers to participate in a special interim committee session on the topic on Tuesday and Wednesday.

“We need to be educated. I’m not going to let my committee go out and pass a lot of legislation right out of the bag. We need to be smarter before we do it,” said Estes.

“It will generate more excitement and interest in sports, which I think will drive more traffic into these social settings,” he said and added that it will also generate more revenue and jobs. “There are a lot of different opportunities there.” commented Representative Jan Kessinger.

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

DC inches towards legalising sports betting

Niji Ng

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DC inches towards legalising sports betting
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The council of District of Columbia (DC) has moved further closer to the realisation of the bill that would make sports betting legalised in the state. The second and final vote on the “Sports Wagering Lottery Amendment Act of 2018” is expected to be held in the December 18 legislative session.

The DC council decides to move quickly as the neighbouring states, such as Maryland and Virginia, are seen as moving fast.

However, David Grosso, one of the members of the council that voted against the bill, said that it is possible that they are moving too fast: “This rush to make D.C. the first jurisdiction in the region to legalise sports betting gives me great pause as we do not fully understand the impact it will have on our communities.”

The bill establishes two categories of licences, one for establishments such as restaurants and bars, and one for major sports stadiums in city limits. Another member of the Council said that he expects to have a sports betting market ready to start for the 2019 baseball season.

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Gambling in the USA

Maryland casino revenues increase

Niji Ng

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Maryland casino revenues increase
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Maryland’s gaming sector has posted a record month in November in terms of revenue generation. The six casinos in the state has recorded a gaming revenue of $158 million, 7.3 per cent higher than the amount in the same period last year. The revenues have fallen to $140.1 million in November.

The casino-wise details of revenue break-up are listed below:

MGM National Harbour, which opened in December 2016, accounted for 41 per cent of all gaming revenue last month, at $57.3 million, up 13.2 per cent from a year ago.

Live! Casino & Hotel at Arundel Mills had $48.7 million in November gaming revenue, up 12 per cent from November 2017.

Baltimore’s Horse Shoe Casino stumbled in November, with $19.5 million in gaming revenue, down more than 14 per cent from a year ago.

Gaming revenue was mixed for the state’s three smaller casinos.

Hollywood Casino Perryville had $5.4 million in November gaming revenue, down 5.9 per cent from a year ago. Rocky Gap Casino Resort had $4 million in gaming revenue, down 2.7 per cent. But Ocean Downs Casino’s $5.2 million in November gaming revenue was up 34.3 per cent from a year earlier.

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Gambling in the USA

Pennsylvania Gambling Expansion Nears $400 Million for the State in First Year

George Miller

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Pennsylvania Gambling Expansion Nears $400 Million for the State in First Year
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Upfront licensing fees a short-term boon for state coffers, but revenue from gamblers will still have to wait, says PlayPennsylvania.com

 

Gambling has injected more than $385 million into Pennsylvania coffers in the first year since a law was passed to expand gambling in the state, surpassing state budget estimates. Upfront licensing fees for casinos, online casinos, and sportsbooks, as well as mini-casino auction profits and tax revenue from lottery expansion and daily fantasy sports, have combined to net Pennsylvania more than $1 million a day since late 2017, according to a recent analysis by PlayPennsylvania.com.

“The most notable aspect of the significant revenue that has been generated is that this is almost completely from fees, rather than tax revenue gained from gamblers,” said Jessica Welman, analyst for PlayPennsylvania.com. “Clearly there is enough interest in Pennsylvania’s enormous market so far to generate the fees.”

The revenue estimates were tabulated by PlayPennsylvania.com using a combination of official statistics and estimates based on iLottery, keno, and virtual sports sales numbers. A detailed accounting of the revenue generated so far can be found at playpennsylvania.com/revenue.

Using return-to-player rates of the games, PlayPennsylvania estimates that the state has collected more than $23 million in revenue from online lotto games ($19.6 million), keno ($3.6 million), and virtual sports ($87,000) through October.

Other sources of revenue so far from the law include:

  • Mini-casino auction profits, $128 million
  • Interactive gaming petitions, $94 million
  • Casino licensing, $78 million
  • Sports betting petitions, $60 million
  • Daily Fantasy Sports tax revenue, $1.4 million

By comparison to the gambling expansion, the state collected $799.8 million in taxes from statewide slot revenues in fiscal 2017-18. Pennsylvania estimated in February that the state will generate more than $34 billion in general fund revenues for its 2018-19 fiscal year.

“If the point of the expansion was to fill short-term gaps in the state’s budget, then the expansion would have to be considered a success so far,” Welman said. “We believe that the gambling expansion will eventually prove to be a winner for the state’s budget, but the long-term picture is less certain. More casinos and sportsbooks must open before we get a clear picture of whether Pennsylvania’s relatively steep tax rates and license fees will produce the desired outcome.”

With the November opening of the sportsbook at Hollywood Casino at Penn National, the rollout of sports betting is just beginning in Pennsylvania. More openings are expected in December and January, too.

In addition, Pennsylvania should begin adding revenue from online gambling in early 2019, and further down the line, mini-casinos should enter the fray.

“The addition of retail sports betting should help buoy a slowing Pennsylvania casino industry,” said Dustin Gouker, lead sports betting analyst for PlayPennsylvania.com. “If New Jersey is any indication, though, the more significant revenue generator will be online sports betting. A successful rollout there should generate millions of dollars in tax revenue for the state.”

 

About The PlayUSA Network:
The PlayUSA Network and its state-focused branches (including PlayNJ.com, PlayNY.com, PlayPennsylvania.com, and PlayCA.com) is a leading source for news, analysis, and research related to the market for regulated online gaming in the U.S.

 

Source: PlayPennsylvania.com

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