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Gambling in the USA

Hard Rock and Kindred confirmed for inaugural Betting on Sports America

George Miller

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Hard Rock and Kindred confirmed for inaugural Betting on Sports America
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Hard Rock International, Kindred Group, Missouri Lottery, Mississippi Gaming Commission, Foxwoods, Webis Holdings and the National Council on Problem Gambling are just some of the key industry organisations to be represented across seven conference tracks at next year’s inaugural Betting on Sports America (23-25 April 2019).

Super Early Bird tickets are now available for #bosamerica, which is set to become the biggest sports betting dedicated event to take place on American soil. All the ‘Super Early Birds’ who purchase tickets before Friday 21 December will get $300 off the full ticket price.

Headline sponsored by SG Digital, Inbet Games and BetConstruct, it will kick off with a pre-registration party near the heart of the “Big Apple” – Times Square on 23 April, then cross the Hudson River to Meadowlands Exposition Center for the two-day conference and exhibition (24-25 April), before returning to Manhattan for a spectacular closing party.

Just a short trip from New York, the Meadowlands venue will host over 1,500 delegates and 60 exhibitors across 61,000 sq ft of exhibition space, as well as 175 leading industry speakers including Keith Whyte, Executive Director for the NCPG, and Ed Comins, Managing Director of Webis Holdings – operator of WatchandWager.com.

Whyte said: “It’s a great opportunity to advocate for responsible gambling with key stakeholders in the sports betting sector, but also to learn about the latest trends and products from industry leaders and develop mutually beneficial partnerships.”

Comins added: “I can’t wait to play a part in the inaugural Betting on Sports America. I’m particularly pleased about horse racing’s inclusion in the conference agenda. There is no doubting there are opportunities for the sport, but it needs to be positioned in the right way to fit the new environment.”

The lineup also includes Kresimir Spajic (Hard Rock International), May Scheve (Missouri Lottery), Allen Godfrey (Mississippi Gaming Commission), Andrew Winchell (Chief of Staff to New York State Senator), Chris Grove (Legal Sports Report), Daniel Wallach (Wallach Legal LLC), Manuel Stan (Kindred Group) and Seth Young (PointsBet).

These speakers will be spread across the following conference tracks – Betting on Regulation, Sport in Focus, Trading & Operations, Sponsorship & Marketing, Sports & Betting, States of the Nation and Demystifying Sports Betting covering a multitude of the most important issues and providing vital insights and inspiration for delegates.

On the first day, Betting on Regulation will look at lessons learned from other regulated markets and why Nevada is living proof that an individual state can successfully police sports betting, while Sport in Focus will assess the tribal response and whether the outdated Wire Act should be completely reworked to provide a future-proof regulatory framework.

Trading & Operations will consider the most crucial components to the supply chain, what’s next for DFS now that sports betting has stolen its thunder, and why effective geolocation is essential to staying compliant with state laws. Meanwhile, Sponsorship & Marketing will discuss boosting ROI, the advantage of individuality within ambassadorial appointments, the role of affiliates in the new market and the power of social media influencers.

On day two, the first ‘March Madness’ since PASPA was repealed will be reviewed during ‘Sports & Betting’, a track which will also cover the future of horse racing in the country and the best approach to taking bets on college football without endangering its players.

States of the Nation will put the spotlight on New Jersey as a land of opportunity and discuss lessons learned for the next wave of legal sports betting adopters, including New York, while Demystifying Sports Betting will look at opportunities presented by pool betting, the role of the blockchain, and why virtual sports are not just an introduction to the world of betting.

Super Early Bird tickets for the inaugural Betting on Sports America conference are available for just $399 (+VAT), but only until 14 December. To secure the exclusive discount get your discounted tickets HERE now.

George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Gambling in the USA

Twin River Worldwide Signs Agreement to Acquire Two Casinos from Eldorado Resorts

Niji Narayan

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Twin River Worldwide Signs Agreement to Acquire Two Casinos from Eldorado Resorts
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Twin River Worldwide Holdings has entered into a definitive agreement to acquire the Isle of Capri Casino in Kansas City and Lady Luck Casino in Vicksburg from Eldorado Resorts in a cash transaction for $230 million.

The purchase price represents an implied trailing twelve month proforma earnings before interest, taxes, depreciation and amortisation multiple of approximately 8.4× for the properties on a combined basis.

“This transaction continues our focus on creating long-term shareholder value as we strive to develop or acquire assets which we believe will prove accretive to our earnings,” George Papanier, President and CEO of TRWH said.

“Isle Kansas City and Lady Luck Vicksburg expand our geographic footprint with assets in attractive markets. We believe these assets are a great fit for our portfolio and see the opportunity to increase the net cash flow from these properties by our redevelopment and operating plans. In particular, in Kansas City, where the property lies within an area near downtown that has been targeted by local officials for development, we feel there is opportunity for capital investment in the property which we believe will have a transformative impact and integrate well with local development efforts in the area,” George Papanier added.

The transaction is subject to receipt of required regulatory approvals and is expected to close in early 2020.

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Compliance Updates

Victory for Lottery in Pennsylvania Casinos’ Gambling Lawsuit

Niji Narayan

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Victory for Lottery in Pennsylvania Casinos’ Gambling Lawsuit
Photo Source: post-gazette.com
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Pennsylvania casinos have lost a bid to close down online lottery games that they say are too much like casino gambling, just days before the state’s first casinos launch their own online gambling portals.

The decision of Commonwealth Court is a victory for the state lottery, although the casino owners’ 9-month-old lawsuit will continue.

Lottery officials say the games are in accordance with the 2017 state law that authorised them, but the casinos argue that some online lottery games violate it because they simulate slot machines and casino-style gambling.

The state regulators will allow Parx Casino and Penn Nation’s Hollywood Casino to launch their online gambling portals to patrons statewide as part of a three-day test.

New Jersey, Delaware and Nevada are the only other states that allow online casino gambling.

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Gambling in the USA

New Jersey Sportsbooks Show Remarkable Year-Over-Year Growth While Online Casinos Flourish in June, According to PlayNJ.com

George Miller

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New Jersey Sportsbooks Show Remarkable Year-Over-Year Growth While Online Casinos Flourish in June, According to PlayNJ.com
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New Jersey’s online casinos posted yet another near-record month in June while the state’s online and retail sportsbooks showed strength during a typically slow month. In all, June’s nearly $275 million handle was an impressive showing considering that the summer months are historically the slowest on the sports betting calendar, according to analysts from PlayNJ.com.

“To approach $275 million during a month where the only major sports betting event is the NBA Finals says something about the trajectory of New Jersey’s market,” says Dustin Gouker, lead sports betting analyst for PlayNJ.com. “Basketball clearly drives interest, but it also shows that interest in sports betting in general continues to expand.”

New Jersey’s sportsbooks accepted $273.2 million in bets in June, down 14% from $318.9 million in May, according to official reporting released Friday. The handle yielded $9.7 million in revenue, down 37% from $15.5 million in May.

June’s handle was up dramatically from $15.3 million in June 2018, and revenue has nearly tripled from $3.5 million in June 2018. Since launch, New Jersey sportsbooks have generated a handle of $3.2 billion and a win of $203.8 million. And New Jersey’s handle could surpass Nevada for the second consecutive month.

“The rate of growth will eventually level out, but I do not believe that time is at hand,” Gouker said. “The fact that New Jersey is now on par with Nevada, a market that has matured over generations, is remarkable. Competition from the launch of Pennsylvania’s sports betting apps could slow momentum, though.”

Online sports betting generated 83% — $226.7 million — of June’s handle, up from 82.6% in May. FanDuel Sportsbook/PointsBet generated $2.7 million in online gross revenue, or 28% of the state’s handle, edging Resorts/DraftKings. FanDuel Sportsbook at The Meadowlands lead the retail market with $1.7 million in June gross revenue.

“FanDuel has refused to loosen its grip on the New Jersey market,” Gouker said. “Other operators such as Monmouth Park and its associated online brands have shown plenty of growth, but at this point, it’s becoming difficult to see when FanDuel and DraftKings will will be seriously challenged.”

Online casinos

New Jersey’s online casino and poker industry generated $38.1 million in June revenue. June’s revenue was up 68% from $22.7 million gained in June 2018 and down slightly from $38.3 million in May.

The continued growth of online gambling — especially when online sports betting is factored in — shows that it could one day generate as much revenue as gambling in Atlantic City casinos. In fact, the Golden Nugget’s online casino brands — home to the Golden Nugget, Betfair, and SugarHouse online casino brands — could surpass Golden Nugget Atlantic City’s revenue before the end of the year. The Golden Nugget generated $13.6 million with its online casino games in June, down from $14.1 million in May. By contrast, Golden Nugget AC generated $15.8 million in June.

“Golden Nugget’s ability to generate nearly 50% of its revenue through its online casino without cannibalizing its brick-and-mortar operations should be a wakeup call to every state lawmaker and casino owner who still make the false assumption that such a dynamic is not possible,” said Steve Ruddock, lead online gambling analyst for PlayNJ.com. “Online and retail gambling are not simply compatible, they’re mutually beneficial.”

 

About the PlayUSA.com Network:

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

 

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