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Gambling in the USA

Gambling.com Group Announced the Winners of the Inaugural American Gambling Awards

George Miller

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Gambling.com Group Announced the Winners of the Inaugural American Gambling Awards
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The 14 winners were recognized for their leadership in the regulated, online U.S. gambling industry at a party hosted by ESPN+ host and fantasy sports analyst Matthew Berry on June 18, 2019 at Monmouth Park Racetrack in New Jersey.

 

Each winner received a custom-designed Golden Eagle trophy – an American-made, 11-inch, gold-plated, cast-pewter statuette of an American Bald Eagle. The inaugural awards featured more than 70 finalists, with a panel of more than 25 expert judges evaluating the nominations. To ensure the highest possible integrity, votes were tallied by PricewaterhouseCoopers.

The 2019 American Gambling Awards winners are:

  • American Operator of the Year: Rush Street Interactive
  • Sports Betting Operator of the Year: FanDuel
  • Casino Operator of the Year: Rush Street Interactive
  • Poker Operator of the Year: WSOP
  • Fantasy Sports Operator of the Year: DraftKings
  • Horse Racing Operator of the Year: TVG
  • Payments Provider of the Year: Paysafe Group
  • Service Provider of the Year: Evolution Gaming
  • Corporate Transaction of the Year: Paddy Power Betfair’s acquisition of FanDuel
  • Responsible Gambling Award: National Council on Problem Gambling
  • Industry Supporter of the Year: Raymond Lesniak, former New Jersey State Senator
  • Lawyer of the Year: Ted Olson
  • Policymaker of the Year: J. Gary Pretlow, New York Assemblyman
  • Regulator of the Year: David Rebuck, New Jersey Division of Gaming Enforcement

“The American Gambling Awards is our gift to the growing industry in America,” remarked Charles Gillespie, Chief Executive of Gambling.com Group Plc. “We are gamblers and we are American and we are for the development of a responsibly regulated, competitive, modern online gambling market that serves the interests of the American consumer. It is our hope that the American Gambling Awards will bring positive attention to the leaders making this a reality.”

The American Gambling Awards party and trophy presentation was part of a week-long series of conferences, seminars and social events in and around Monmouth Park in conjunction with the one-year anniversary of New Jersey’s first legal sports bet. Attendees came from New JerseyNew YorkWashington D.C.CaliforniaTennesseeMichiganPennsylvaniaNevadaFloridaWest Virginia and North Carolina.

The American Gambling Awards were launched in March 2019 as the first awards program to recognize excellence among operators, suppliers, advocates, policymakers, lawyers and regulators supporting the regulated online gambling market in the United States.

A full list of American Gambling Award winners, finalists and judges can be found at: www.gambling.com/us/awards.

Source: Gambling.com Group Plc

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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