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Gambling in the USA

Spectrum Gaming Sports Group, Econsult Solutions to Project Economic Impacts of Sports Betting for States, Operators

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Spectrum Gaming Sports Group, Econsult Solutions to Project Economic Impacts of Sports Betting for States, Operators
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Econsult Solutions Inc. (ESI), a global leader in economic forecasting, is partnering with Spectrum Gaming Sports Group, a unit of international gaming consultancy Spectrum Gaming Group, to assist governments and gaming operators in projecting the comprehensive economic impacts of legal sports betting.

ESI and New Jersey-based Spectrum, which have worked together on multiple economic impact studies, will combine their gaming and modeling expertise to measure the myriad impacts of sports betting, including gaming demand, revenue generation (gaming and non-gaming), tax generation (income, sales, property and other applicable), job creation (direct, indirect and induced), visitation and other aspects.

Spectrum, whose principals pioneered the study of gaming’s impacts in markets throughout the world, views sports betting and other emerging forms of gaming as the tip of an economic spear that, if structured properly, can generate benefits far beyond the amounts directly wagered.

All stakeholders must carefully assess and understand the full impacts of sports-betting policy before those policies are enacted,” said Spectrum Managing Director Michael Pollock, who began studying the economic impacts of gaming in the 1980s, when he wrote the award-winning book “Hostage to Fortune: Atlantic City and Casino Gambling,” published by the Center for Analysis of Public Issues in Princeton, NJ. Pollock served on the faculties of New York University, Rutgers University and Stockton University, and led the formation of Spectrum Gaming Sports Group to address issues related to the expansion of sports betting.

ESI offers unique expertise at the intersection of economic development, public finance, entertainment and tourism, with decades of gaming experience, having studied the actual and potential economic and fiscal impacts of casino, gaming and e-gaming projects in California, Indiana, Iowa, Kansas, New Jersey, New York, and Pennsylvania, for public and private clients.

Stephen P. Mullin, President; Dr. Peter Angelides, Senior Vice President; and Dr. Daniel Miles, Vice President, who oversee the gaming projects of the company, have worked on comprehensive analyses and delivered gaming policy recommendations, notably for the Pennsylvania Legislative Budget and Finance Committee for which they analyzed the current condition of casino gaming in Pennsylvania as well as the future gaming environment. They have applied both IMPLAN and REMI input-output modeling systems to estimate the economic and fiscal impacts of public policies and have taught graduate-level economics, public policy, public finance and planning at various universities, including the University of Pennsylvania.

 

About Spectrum Gaming Group:

Spectrum has performed advisory and consulting work for gaming operators, regulators and legislatures in 36 US states and territories and 47 countries on six continents. Spectrum serves as Executive Director of NCLGS, an organization of lawmakers that shares the goal of promoting best practices. Spectrum’s sister companies include Spectrum Gaming Capital, based in New York, and Spectrum Asia, based in Bangkok and Tokyo. For more information, contact [email protected]

About Econsult Solutions, Inc. (ESI): Econsult Solutions, Inc. (ESI). ESI is a Philadelphia-based economic consulting firm. It provides businesses and public policy makers with economic consulting services in urban economics, real estate economics, transportation, public infrastructure, economic development, public policy and finance, community and neighborhood development, and planning, as well as expert witness services in support of litigation. For more information, visit www.econsultsolutions.com or contact Stephen Mullin at [email protected]

 

Source: Spectrum Gaming Group

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Gambling in the USA

Gaming Americas Weekly Roundup – October 18-24

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Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news, new partnerships and new appointments. Read on and get updated.

Latest News

The New Jersey Division of Gaming Enforcement has granted Las Vegas-based PlayUp an operational license as an online sports betting operator.

Rush Street Interactive has announced that it is entering the Canadian market with the launch of its social gaming platform CASINO4FUN in Ontario.

The Mashantucket Pequot Tribal Nation, Foxwoods Resort Casino and DraftKings Inc. announced that online and mobile sports betting and online casino launched in Connecticut after successfully completing the required soft launch testing.

GridRival, a sports betting startup dedicated exclusively to motorsports, has raised $3M in Seed funding. The round was led by KB Partners, the Chicago-based sports-tech fund, with participation from Sharp Alpha Advisors, ESPT Ventures and other sports betting investors and executives including Lloyd Danzig and Benjie Cherniak.

The NFL is spending $6.2 million to help expand programmes to prevent or treat problem gambling across the country. The league is launching a responsible betting initiative aimed at getting fans to set limits on their wagers, understand the risks of betting and know where to get help if things get out of hand.

Skrill USA, the digital wallet from leading specialised payments platform Paysafe, unveiled a major product revamp to make it easier and faster than ever to wager online with iGaming brands.

SGHC Limited, the parent company of global online sports betting and gaming businesses operating Betway, a premier online sports betting brand, and Spin, a multi-brand online casino offering, continued its new market expansion with the addition of a fifth live market in the US as well as a new license in Europe.

Ali “Myth” Kabbani, one of the most recognisable and well-known gaming streamers in the world today, has announced the drop of his first-ever limited edition merchandise collection.

Partnerships

Fubo Sportsbook has become an authorised gaming operator of NASCAR. As partners, Fubo Sportsbook and NASCAR will work together to provide racing fans with a unique and engaging wagering experience.

The Los Angeles Lakers have announced a new official team sponsorship with Socios.com, the leading global blockchain provider for the sports and entertainment industry.

Scientific Games and OpenBet have entered the newly-legalised market of Connecticut with long-term partner and leading sportsbook operator, FanDuel Group.

PepsiCo and Bally’s Corporation announced an exclusive partnership, naming PepsiCo the official beverage provider at Bally’s casinos and resorts nationwide.

Nuvei Corporation, the global payment technology partner of thriving brands, announced that BetMGM has chosen Nuvei to provide a seamless payment experience for its players in the US.

The New Hampshire Lottery, DraftKings and Filotimo Casino & Restaurant have teamed up again to expand retail sports betting in New Hampshire. The Manchester-based Filotimo Casino & Restaurant, which houses DraftKings Sportsbook at Filotimo, has opened a sister retail sports betting establishment in Dover under the same name located at 887 Central Avenue in Rollinsford.

New Appointment

Rivalry Corp, an internationally-regulated sports betting and media company, has appointed Kirstine Stewart to its board of directors. The appointment represents a critical step in Rivalry’s continued journey to becoming a global player in regulated online sports betting.

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Gambling in the USA

Gaming Americas Weekly Roundup – October 11-17

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Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news, new partnerships and new appointments. Read on and get updated.

Latest News

Penn National Gaming has received approval from the Minister of Canadian Heritage under the Investment Canada Act for its acquisition of Score Media and Gaming. The acquisition is expected to be closed on 19 October 2021.

Sharp Alpha Advisors announced last week the final closing of Sharp Alpha Fund I, an oversubscribed $10 million venture capital fund investing in early stage sports betting technology companies.

Online gambling has reached Connecticut, on a limited basis. A soft launch of online sports betting and gaming has begun in Connecticut on October 12. This soft launch allows several hundred people to open accounts to wager for a seven-day period.

Terry Glebocki has resigned as CEO of Atlantic City’s Ocean Casino Resort. Glebocki’s exit reduces the number of female casino bosses after an unprecedented wave of female leadership. Just over a year ago, four of the city’s nine casinos were led by women, but two have since left.

Rush Street Interactive has soft launched a new PlaySugarHouse online sportsbook in partnership with Connecticut Lottery Corporation. From October 12 up to the full launch, 750 customers across the state can register and place bets at www.PlaySugarHouse.com and experience RSI’s award-winning sports betting platform, on a first-come-first-serve basis. Once the 750-player limit is reached, customers who pre-register at www.PlaySugarHouse.com will be added to a waiting list and notified as soon as the full launch is authorised.

NOVOMATIC Americas has showcased an extensive portfolio of products at the G2E 2021. At the centre of the product presentation stood the extended Progressives offer, premiering the new ULTRA BOOST Link. This multi-level Linked Progressive comprises three roaring 50-line titles: the magnificent Great American Buffalo, the iconic Great American Eagle and the Asian title Tiger Storm.

New Partnerships

Leading sports gamification company Low6 has announced a partnership with the NFL franchise Cincinnati Bengals. The deal between the UK-based gamification company and the NFL team from Ohio will see the release of free-to-play games “Bengals Picks” and “Ultimate Bengals”.

DraftKings has announced that it has agreed to a deal with the National Hockey League to become an Official Sports Betting, Daily Fantasy Sports and iGaming Partner of the league in the US. To complement the deal, DraftKings has also reached an agreement with Turner Sports, including Bleacher Report, to be the exclusive sportsbook and daily fantasy sports provider for their coverage of the NHL.

New Appointments

Nevada Governor Steve Sisolak has appointed retired Clark County Judge Jennifer Togliatti and former State Senator Ben Kieckhefer to the Nevada Gaming Commission. Togliatti will serve as chair – and will be the first female to serve as the chair. Togliatti has served the State of Nevada in the state judiciary for more than 25 years and has significant legal, administrative and legislative experience. Kieckhefer has spent the last decade serving in the Nevada State Senate, where he has spent time working on legislation on complex and contentious issues.

New Acquisition

Real estate firm EKN Development Group has acquired the Tahoe Biltmore Lodge & Casino located in Crystal Bay, Nevada.

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Gambling in the USA

Gaming Americas Weekly Roundup – October 4-10

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Reading Time: 2 minutes

Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news, new partnerships and new appointments. Read on and get updated.

Latest News

SW Nordic Limited, a subsidiary of Betsson, has completed the acquisition of Inkabet’s B2C online gambling business, a rapidly growing sportsbook and casino business targeting the western region of South America.

The mobile cash payments platform PayNearMe has launched a new platform named “MoneyLine” to manage the complexities of iGaming money movement.

Scientific Games Corporation has signed a definitive agreement to acquire ACS’s cashless table game solution titled PlayOn. The PlayOn cashless product line conveniently provides players with a seamless debit solution at live table games.

DraftKings, a leader in the digital sports entertainment and gaming industries, announced its latest, state-of-the-art office location to be based out of Las Vegas, where the company expects to eventually have an expanded team of more than 1000 employees.

Betfred Sports has launched a new OpenBet-powered retail sportsbook in Louisiana through a partnership with Paragon Casino Resort. The Betfred Sportsbook inside The Draft Room at Paragon Casino Resort, Marksville, is the first retail venue in the state to allow customers to place legal wagers on a variety of sports.

Comanche Nation Entertainment of Lawton Oklahoma has chosen Table Trac’s CasinoTrac casino management system for its new Comanche Cache Casino currently under construction in Cache, Oklahoma.

Following the signing of an exclusive agreement to distribute the game in the US, TCSJOHNHUXLEY has debuted Richer Spin Roulette at this year’s G2E.

Partnerships

Sightline Payments and Konami Gaming have partnered to bring cashless gaming solutions to Resorts World Las Vegas via Sightline’s Play+ digital payments technology and Konami’s SYNKROS casino management system.

Genius Sports has entered into a new partnership with Hard Rock Digital. As the premier mobile and desktop sports betting brand, Hard Rock Digital will have access to Genius Sports’ leading suite of sportsbook solutions, including official sports data from tens of thousands of events per year, customer acquisition and retention tools, and immersive fan engagement solutions.

The PGA TOUR and PointsBet announced a three-year extension of their multi-year content and marketing relationship designating PointsBet an Official Betting Operator of the PGA TOUR.

Genius Sports Limited has announced a new supplier agreement with PointsBet, a top-tier global online gaming operator, to provide its full range of official sportsbook data, content, and fan engagement solutions including for NFL, NASCAR and EPL.

The Esports Awards has announced Expedia, one of the world’s leading full-service travel brands, as the Official Travel Companion of the 2021 Esports Awards.

Appointments

International Game Technology has appointed Joe Asher as President of Sports Betting. Reporting to Enrico Drago, IGT CEO Digital & Betting, Asher will lead the ongoing expansion of the IGT PlaySports sports betting business in North American markets.

Flutter Entertainment has appointed Amy Howe as CEO of FanDuel. Amy joined FanDuel in February 2021 as President with responsibility for leading the company’s core commercial functions across its Sportsbook, Casino, Racing and Daily Fantasy businesses. She was appointed as Interim CEO in July.

Wynn Resorts’ online sports betting and iGaming brand WynnBET has appointed gaming industry veteran Ian Williams as its new Chief Operating Officer.

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