Happy Monday, everyone. Sports betting news is once again focused on legislation as the busy earnings season is mostly wrapped up.
There are now two ways to follow LSR and stay up to date with the latest US sports betting news during the week. Follow @LSPReport on Twitter for all news updates and tune into NewsWire on SportsGrid at 2:25 pm Eastern on weekdays.
This week’s top sports betting news: NJ reports Monday
There has been no sign of a slowdown so far, though, as NJ handle rose year-over-year the first three months of the year.
New York reported $1.39 billion in mobile handle for April, its lowest total yet as US sports betting hits its annual second-quarter slowdown.
Will MN sports betting pass the Senate?
The Senate does not support tribal exclusivity and has a commercial proposal of its own.
That could complicate the issue with little time remaining as the session ends next Monday.
Last week’s top sports betting news: Kansas 1, Missouri 0
Both Kansas and Missouri seemed motivated to legalize sports betting this year, especially if the other did so.
Unfortunately for Missouri, though, the sports betting bill fell victim to politics late in the session and did not pass before the end of session Friday. Sen. Denny Hoskins, who filibustered the bill that passed in the House to try to add VLTs, noted the Senate offered three MO sports betting bills with all parties on board for the third offer except for the casinos.
Kansas, on the other hand, will likely launch legal sportsbooks some time during the NFL season after Gov. Laura Kelly signed a bill Thursday.
Wynn Interactive slows cash burn
Whether Wynn actually intends to keep its interactive division or is still trying to sell it, the business certainly seems to be in better shape than it was last year.
Interactive net gaming revenue grew 23% in the first quarter compared to last year. Total losses dropped significantly, with an EBITDA loss of $31.5 million this year compared to a loss of $79.4 million last year.
CEO Craig Billings said Massachusetts sports betting would be big for the business:
“We’ve always viewed Massachusetts as an important bootstrapping event for WynnBET. If you look at some of our competitors and their market share in states where they have a physical presence, it’s clear that bricks and mortar is an advantage.”
Whether the legislature passes a bill or not is still up in the air, though. The House and the Senate are quite far apart in their proposals and will hope to reconcile differences moving forward.
Remote registration pushes IL to new heights
Who would have thought allowing remote registration two years after the Illinois sports betting market launched would make such an impact? Oh right, only the bulk of the gaming industry.
Illinois has plenty of storylines right now to keep the state in focus for many interested in US sports betting. Along with remote registration, both Circa and Caliente are entering the state. There will also be two more $20 million mobile-only licenses available at some point.