Fanatics is purchasing PointsBet in an all-cash deal worth $150 million. It's a move that both sends ripples through the redhot US sports betting market, but also illustrates how difficult actually making money in that booming market can be - even for operators with established records. The two companies announced the deal late last week…
Five years ago, the US Supreme Court overturned the Professional and Amateur Sports Protection Act (PASPA), putting the decision to legalize regulated sports betting into the hands of the states. That decision has not only dropped millions of dollars into the pockets of US-facing sports betting operators, it's also enjoyed massive support from the American…
PointsBet, in conjunction with 1/ST Technology is launching a new, US-facing horse racing app that's aimed at differentiating the operator from its competitors in the insanely competitive American sports betting market. PointsBet's product launch comes at a time when horse racing is generally on the decline, and the US side of the business is awash…
Barstool Sports personality Ben Mintz was fired this week for accidentally uttering a racial slur and Barstool Sports founder Dave Portnoy thinks that over-zealous gaming regulators are behind the dismissal. That's the gist of a recent five-minute "emergency press conference" the sports betting personality posted on Twitter the day after the firing. Mintz is a…
Flutter Entertainment is seeing its revenue soar as a result FanDuel's incredible run through the red hot regulated US sports betting market. Q1 2023 revenue clocked in this week at an astonishing 54 percent ahead of Q1 2022, and things look to only get better as Americans trip over themselves to deposit their at FanDuel.…
The race to win one of New York State's coveted (and as yet, un-awarded) casino licenses heated up this week as officials from the Las Vegas Sands signed a 99-year lease deal for a proposed casino site at the Nassau Hub. Located in a high-income slice of Long Island, the deal is a big gamble…
After more than two years of delays, the British government has finally released its Gambling Act review and the Betting and Gaming Council (BGC) is reacting positively to its release. The BGC posted its response to the white paper, and its proposed reforms in a recent posting from BGC CEO Michael Dugher. Dugher's recations to…
Yahoo is acquiring the peer-to-peer (P2P) betting app Wagr for an undisclosed sum of money. The deal could make social betting accessible to Yahoo, and more specifically Yahoo Sports', massive audience. But Yahoo's track record with acquisitions of this sort suggests that adding sports betting to its product line-up may not necessarily be a slam…
The casinos of Atlantic City have survived plenty of challenges to their existence over the past 46 since New Jersey became the second US State to offer regulated gambling. Those challenges include hurricanes, economic downturns, and the massive incompetence of Donald Trump. While they've survived plenty, Hard Rock International Chairman Jim Allen is concerned tha…
The top US sports leagues have formed a new group called the Coalition for Responsible Sports Betting Advertising to help shore up responsible gambling efforts and self-regulated advertising practices. Membership in the group is voluntary, but it doesn't take a Goldman-Sacs analyst to tell you that this group is an attempt to self-regulate gambling advertising…
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