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Gambling in the USA

New Jersey Sportsbooks Generate Nearly $3 Billion in Bets

Niji Narayan

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Pennsylvania sportsbooks rake in more than $240 million in bets in October
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The New Jersey sportsbooks have generated nearly $3 billion in bets and nearly $200 million in revenue for the last 12 months. Sports betting in New Jersey became legal in June 2018. By collecting $318.9 million in May bets, New Jersey overtakes Nevada for the first time.

New Jersey’s handle in May was up 1.7% from $313.7 million in April. New Jersey’s online and retail sportsbooks have now accepted $2.9 billion in bets in the 12 months since launch.

“We knew that sports betting in New Jersey would be successful, but it is fair to say that so far it has exceeded our expectations. $3 billion in bets in 12 months is an impressive milestone by any measure, and in just a year, New Jersey is set up to become the nation’s largest legal sports betting market,” Dustin Gouker, lead sports betting analyst for PlayNJ.com said.

“If this is indeed the month that New Jersey overtakes Nevada for the first time, it will be a momentous occasion for the Garden State. New Jersey sports bettors appear to have a stronger preference for basketball and baseball than Nevada, so it makes sense that May would be a likely month for it to happen. But clearly the state is on its way to becoming the largest legal sports jurisdiction in the country,” Gouker added.

FanDuel Sportsbook/PointsBet generated $7.9 million in online gross revenue and lead in the online market. FanDuel Sportsbook at The Meadowlands continues to lead the retail market.

“The sportsbooks branded by the daily fantasy sports giants continue to dominate the sportsbooks tied to Atlantic City-based casinos. Part of that is the brand recognition of FanDuel and DraftKings. But the proximity of FanDuel Sportsbook to New York City is also a significant factor to its dominance, particularly on the retail side,” Gouker said.

Gambling in the USA

Penn National Gaming Reorganises its Executive Management Team

Niji Narayan

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Penn National Gaming Reorganises its Executive Management Team
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Penn National Gaming has reorganised its executive management team to coincide with the transition of Jay Snowden to the role of chief executive next month. Snowden will take up his new position on January 1, following the retirement of PNG’s current CEO Timothy Wilmott.

In preparation for the move, Penn National has promoted Todd George to executive VP for operations and also changed Chris Rogers’ job title to senior VP, chief strategy officer.

George has been with the operator since October 2012, first serving as vice president and general manager of Hollywood Casino in Lawrenceburg, Indiana. In 2017, George was promoted to his current position as senior vice president of regional operations, overseeing nine properties in Penn National’s Midwest region.

In his new role, George will be responsible for the operator’s four senior vice presidents of regional operations, as well as marketing and information technology.

Rogers joined Penn National in August 2013 as VP, deputy general counsel, serving in the role until February of this year when he was promoted to senior VP, corporate development.

Moving into the newly created role of senior VP, chief strategy officer, Rogers will lead the team in developing and pursuing strategic growth initiatives.

“Both Todd and Chris have quickly risen the management ranks at Penn National and their new roles reflect the trust and confidence I have in them serving as integral members of my newly restructured executive management team,” Snowden said.

Penn National is also still seeking a new executive vice president and chief financial officer after it was recently confirmed that BJ Fair will step down from the role in March 2020.

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Gambling in the USA

Tribal-State Relations to be a Focal Point at Winter Meeting of Legislators from Gaming States, January 10-12 in San Diego

George Miller

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Tribal-State Relations to be a Focal Point at Winter Meeting of Legislators from Gaming States, January 10-12 in San Diego
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With Indian gaming operating in 29 states nationwide, the agreements negotiated between tribes and state governments can have lasting economic, fiscal and social impacts on the tribe, the local area, and the state. The process of making and renegotiating these tribal-state compacts will be a focal point at the Winter Meeting of the National Council of Legislators from Gaming States (NCLGS), January 10-12 at the Marriott Marquis San Diego Marina.

The NCLGS Winter Meeting is open to the public. To view the agenda, register, and book rooms at the host hotel at special attendee rates, visit http://nclgs.org/index.php/events/nclgs-winter-meeting-san-diego-2020

“Indian gaming is best positioned to achieve important goals for communities when legislators and tribal leaders work together in forged partnerships,” said Florida state Senator Perry Thurston, an NCLGS officer who chairs the Committee on Indian Gaming. “That is what we learned in Florida and other states, and that is what we are striving for at NCLGS.”

Already a $34 billion industry nationwide, including more than $9 billion in California, the additions of sports betting and igaming will elevate the tribal gaming industry to new economic heights, thus placing renewed emphasis on the tribal-state compacts. The NCLGS Committee on Indian Gaming will examine the compacting process, the key elements to be debated, and what impacts can be expected among the host tribes and stakeholders. The Committee will hear from the following experts:

  • Susan Jensen, Executive Director, California Nations Indian Gaming Association
  • Cody Martinez, Chairman, Sycuan Band of the Kumeyaay Nation
  • Dr. Katherine Spilde, Professor, L. Robert Payne School of Hospitality & Tourism Management, San Diego State University

In addition, a masterclass panel conducted by the International Masters of Gaming Law (IMGL) will focus on the legal and regulatory trends of tribal-state gaming compacts. Speakers on that panel include:

  • Jonodev O. Chaudhuri, Partner, Quarles & Brady
  • Stephen Hart, Partner, Lewis Roca Rothgerber Christie
  • Judith A. Shapiro, EsquireJudith Shapiro Law
  • Jane Zerbi, Principal, Law Office of Jane Zerbi

The agenda for the three-day NCLGS Winter Meeting includes:

  • Six legislative-chaired Committee sessions that will focus on tribal and commercial casinos, responsible gaming, and lotteries, as well as legal, regulatory, and operational aspects related to sports betting
  • A second IMGL masterclass panel focusing on cutting-edge issues related to the surge of sports betting across the U.S.
  • Morning Keynote Address from Robert Zahradnik of The Pew Charitable Trusts
  • Luncheon Keynote Address from Bill Miller of AGA: “State of the Industry”
  • Two Sunday general session panel discussions
  • Thursday evening networking reception
  • Friday evening welcome reception
  • Saturday afternoon tour of Pechanga Resort Casino in nearby Temecula

 

NCLGS is the only organization of state lawmakers that meets on a regular basis to discuss issues relating to gaming. Members of NCLGS serve as chairpersons or members of state legislative committees responsible for the regulation of gaming in their state legislative houses. NCLGS does not promote or oppose gaming but is primarily concerned with the regulation and economic and social impacts of the industry. The NCLGS Foundation is the educational and research arm of NCLGS. The 501(c)(3) non-profit is a source of non-partisan data on issues of gaming legislation and regulation.

 

SOURCE National Council of Legislators from Gaming States

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Gambling in the USA

Metric Gaming and Sports IQ Partner on New US Sports Products

George Miller

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Metric Gaming and Sports IQ Partner on New US Sports Products
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Metric Gaming, a disruptive B2B sports betting services provider, has partnered with Sports IQ, a best-in-class oddsmaker, to build and launch a full suite of next generation US sports betting products.

The partnership with Sports IQ will empower Metric Gaming to provide a market leading one stop service for NFL, NBA, MLB, NHL products, as well as the college variants. Operators can consume the service as a simple price feed or a fully managed turnkey service.

The potent combination of Metric’s multi-tenant sports betting platform and Sports IQ’s cutting-edge proprietary modelling technology delivers robust pricing and superior product features that can be fully tailored and customised to Operator needs.

With the partnership agreed earlier in 2019 all major sporting codes will be available to customers in Q1 2020.

Martin de Knijff, CEO at Metric Gaming, said: “We are delighted to partner with a company of Sports IQ’s calibre. The two businesses have similar DNA; we’re both committed to working at the sharpest end of industry, competing on quality and winning in the right way. These products will represent a sharp improvement on the current quality benchmark of US Sports products available, particularly for the nascent US market.”

Speaking about the partnership with Metric Gaming, Omer Dor, Co-Founder at Sports IQ, said: “We believe there is a new standard of expectation from suppliers to deliver innovative, reliable and best-in-class products. We are delighted to be working with an exciting company like Metric Gaming as they match our aspirations, and we recognize their huge potential to further disrupt the B2B sport betting market in Europe, the US, and beyond. We look forward to their new and existing clients benefitting from the Sports IQ suite of products.”

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