Happy Monday, folks. Sports betting news turned a bit ugly this weekend with the allegations against NHL forward Evander Kane of wagering on hockey, including his own games.
Kane denies the charges levied on social media by his estranged wife. Certainly there is more to come as the league investigates.
The LSR Podcast looked at some of the biggest states in the US sports betting picture right now, including Arizona, Massachusetts and, as always, New York.
There will be plenty of news this week as multiple public companies hold investor updates. Stay tuned to @LSPReport for all the details.
Top sports betting news this week: 5 calls worth hearing
It is earnings season for publicly listed US companies. This week is noteworthy for sports betting with five companies presenting second-quarter earnings this week (all times Eastern):
- Caesars, Tuesday, 5 pm. The call will hopefully give one of the first looks into the new sports betting arm of Caesars following the completion of the William Hill acquisition.
- Wynn Resorts, Wednesday, 4:15 pm. WynnBET is live in six states but has access to 16 after signing a deal with the San Carlos Apache Tribe for AZ sports betting last month.
- MGM Resorts, Wednesday, 5 pm. MGM, half of the BetMGM joint venture with Entain, should be positive about the market-share gains in sports betting and iGaming over the past quarter.
- Penn National, Thursday, 9 am. Barstool Sportsbook continues to add to its states after partnering with Phoenix Raceway in Arizona. There could also be a launch date given for its Virginia sportsbook, which should go live in mid-August.
- DraftKings, Friday, 8:30 am. As the only sports betting-centric company on the list, DraftKings has plenty of topics to update: its push for open sports betting in Florida, progress on switching platforms in Oregon, and a new relationship in Massachusetts with the Red Sox that might open the door for a sportsbook at Fenway.
Australia-listed PointsBet updated investors on its fundraising plans last week.
Latest batch of New York Q&A due
It will be interesting to see if any of the five companies holding calls elaborate on whether or not they are applying in New York during their presentations or when asked by analysts.
The names of the bidding companies will be available through Freedom of Information laws, the New York State Gaming Commission confirmed in the second round of Q&A published.
The final round of questions and answers should be published Monday. This is the second opportunity for operators and platform providers hopeful to launch one of the minimum two platforms and four online NY sportsbooks. The first set of answers specific to the RFA went live July 22.
All bids are due to the NYSGC next Monday, Aug. 9 at 4 pm.
Catch up with last week’s top sports betting news
In case you missed them, here were some of the biggest stories from last week:
- Tipico is the latest sportsbook to sign a distribution deal with a media outlet after agreeing to a five-year deal with Gannett, the parent company of USA Today.
- LSR‘s Brad Allen looked into the systemic risks of parlay betting in the US market.
- Sports betting in Washington DC got a retail update last week with GambetDC kiosks finally rolling out to four locations, with more on the way. Other public and private companies also are eyeing the unique retail betting opportunities in DC.
- The Washington on the other coast is also making moves: the first legal sports bets at sportsbooks in Washington State will take place this fall as rules will be effective Aug. 30.
- Resident legal expert John Holden looked at two timely topics: federal legislation for mobile betting on tribal lands and how name, image, and likeness laws in the NCAA could impact sports betting.
- Nevada sportsbooks saw both handle and revenue rise in June. Colorado sportsbooks saw a dip in handle as local favorites made early playoff exits but revenue still jumped 30%.
Press release roundup
- BetMGM added former NFL running back Marshawn Lynch as a brand ambassador.
- Rush Street Interactive will integrate sports data and insights from GTG Network‘s iSport Genius into its online sportsbooks.
- WynnBET signed a multi-year, multi-platform partnership with CUMULUS MEDIA.
