Happy Monday, everyone. There will be no shortage of sports betting news over the next few weeks thanks to Super Bowl LVI.
There is plenty happening outside of Super Bowl betting, though. The LSR Podcast covered many of those topics in its latest episode, including how Florida sports betting failed to make the ballot in November.
Follow @LSPReport for all breaking news updates throughout the week.
Top sports betting news: more earnings calls this week
We are entering the annual extended earnings period that runs from now through May to cover the fourth-quarter 2021 and first-quarter 2022 earnings.
Last week, Penn National reported its interactive US Barstool Sportsbook business will be profitable this year. That news got lost in the headlines, though, as another article about Barstool Sports founder Dave Portnoy and alleged sexual misconduct dropped the same day.
There are two key calls to watch this week (all times Eastern):
- MGM Resorts, 5 pm ET Wednesday: MGM could offer an update on BetMGM‘s operations in both New York and Louisiana. The company is also one of the biggest retail casino operators in the US, and should give some insight into consumer health and spending trends.
- Kambi, 2:45 am ET Friday: Kambi is listed in Stockholm so thank goodness for call replays. Kambi always provides a unique look at the business of US sports betting as a leading sportsbook technology provider.
Watching for January revenue reports
There should be at least two states reporting January revenue reports this week, with others expected.
Friday, of course, will also bring another weekly update on mobile New York sportsbooks. The market set multiple records in January by topping $1.6 billion in handle and more than $57 million in tax revenue.
The following week will give some insight into how nearby markets fared with New York live. An update on Connecticut sportsbooks is expected Feb. 15 followed by the NJ sports betting report on Feb. 16.
Plenty of legislative sports betting news
February is consistently one of the busiest months in terms of sports betting news. Along with special reports on Super Bowl betting and earnings calls, there’s also always a flurry of legislative action.
Here are just some of the top stories being followed by LSR:
- Arizona would see tribal sports betting licenses expand to 22 under SB 1674.
- Some casinos in Mississippi again killed a push for statewide mobile sports betting early in the session.
- South Dakota sports betting could be going statewide just six months after the retail launch.
- Sports betting in Hawaii will “realistically” not pass this year, the bill’s sponsor said.
- The push to end the betting ban on Virginia colleges took a hit in the House, but is still alive in the Senate.
Three thinkpieces worth a read
LSR published three analysis pieces last week that deserve your time:
- Brad Allen looked at whether betting exchanges could solve some of US sports betting’s issues.
- John Holden considered the ceiling for US sports betting revenue.
- Holden also broke down two big topics for the betting industry this year: consolidation and problem gambling.
Other top news at LSR
- BetMGM took another step into the DC sports betting market by opening its retail book at Nationals Park.
- Colorado sportsbooks reported a dip in both handle and revenue in December.
- Esports Entertainment Group is the first bespoke esports betting operator to be licensed in New Jersey.
- FanDuel will open a two-story sportsbook in Chicago at the United Center, home of the NBA‘s Bulls and NHL‘s Blackhawks.
- Hard Rock Sportsbook partnered with the Navajo Nation to launch online sports betting in Arizona.
- In-play NFL betting is too beatable at this point, Genius Sports said.
- The mobile launch of Louisiana sportsbooks topped New York in an interesting area.
- Virginia sportsbooks nearly set a record for handle in December while revenue fell.
- WynnBET was the seventh out of nine operators to launch in New York.