Analysis: Why DraftKings Stock Is Falling And What It Means For US Sports Betting
DraftKings stock is down more than 40% from its recent highs and the downturn could have an impact on the reset of the industry. Read More
Posted on: May 13, 2021 |
Indiana Sports Betting Suffers March Madness Hangover
Indiana sports betting took a big dip in April with a March Madness hangover. Bettors in the state wagered $236.4 million in April, according to an Indiana Gaming Commission report issued Wednesday. IN sports betting was down 25% from March, when the state held the entirety of the NCAA Men’s Basketball Tournament. Operators generated $20.1 […] Read More
Posted on: May 12, 2021 |
TN Sports Betting Advisory Council Preparing For Unexpected New Duties
The most recent TN sports betting meeting at the Tennessee Education Lottery focused on how its board should be relieved of its regulatory duties. Members from the TEL and the Sports Wagering Advisory Council agreed they should move forward with the expectation the council will be the regulating authority on sports betting. That is the […] Read More
Posted on: May 12, 2021 |
Flutter Announces FanDuel CEO Matt King Plans To Step Down
FanDuel CEO Matt King will step down in the near future, putting plans for a US public listing in question. Flutter Entertainment, the parent company of FanDuel Sportsbook, announced King’s intent to depart the business in an email Tuesday evening. The announcement highlights King’s role in helping FanDuel navigate the post-PASPA landscape in the US; […] Read More
Posted on: May 12, 2021 |
Wynn Interactive Set To Be Publicly Traded After Merger With Foley SPAC
Wynn Resorts is spinning off its sports betting and iGaming subsidiary, Wynn Interactive, into an independent company. The move led off Wynn’s first-quarter earnings call Monday. The spinoff comes through a merger with Austerlitz Acquisition Corp. I and the company will trade on Nasdaq under the symbol WBET. The symbol is a nod to its […] Read More
Posted on: May 11, 2021 |
Louisiana Sports Betting Tax Bill Gets OK From House
Legislation needed to launch Louisiana sports betting is moving along. The Louisiana House passed Rep. John Stefanski‘s HB 697, 77-24, on Monday. The bill now moves to the Senate, where Senate President Patrick Cortez is waiting on it to begin to push his regulatory bill, SB 202. HB 697 sets the tax and fee structure for sports […] Read More
Posted on: May 11, 2021 |
Illinois Sports Betting Hit Record Handle In Last Month Of Remote Signups
Sports betting in Illinois finally broke the $600 million handle mark. It might be a while until that happens again though. Total handle hit $633.6 million in March, which was a perfect storm for IL sportsbooks. Naturally, March Madness gave a big lift to the basketball-crazed state, even with a betting ban on in-state colleges. […] Read More
Posted on: May 10, 2021 |
Analysis: What Will Penn National Investors Think About Barstool Sportsbook Numbers?
Two recent user-related figures from Penn National that affect its Barstool Sportsbook brand might concern investors. Penn National submitted testimony this month in Maine concerning its proposed sports betting legislation. It reads much like submitted testimony in just about any state from any sportsbook, but this submission included a few interesting figures. What’s in a number? […] Read More
Posted on: May 10, 2021 |
Analysis: How Does BetMGM Growth Affect Potential MGM Bid For Entain?
Entain is trading 25% higher than when MGM last tried to acquire it. Does that bump in valuation take a renewed offer off the table? Read More
Posted on: May 10, 2021 |
The Week In Sports Betting News: Ohio Senate Unveils Sports Betting Bill
Happy Monday, everyone, and a belated Happy Mother’s Day to all the moms out there catching up on a bit of sports betting news. The LSR Podcast crew followed up their 100th episode with another strong installment including the end of the William Hill brand in the US and updates on the pending expansion of […] Read More
Posted on: May 10, 2021 |