Report: Congress ‘Unlikely’ to Impose Sports-Betting Regulation
A report by Stefanie Miller, a Height Capital Markets analyst, predicts that Congress will leave the issue of federal sports betting regulation alone or the foreseeable future.
NFL Broadcasts Avoiding Odds Talk; NBA, Not So Much
Don’t expect to see Joe Buck and Troy Aikman (l.) discussing point spreads, odds or other sports betting references during their NFL broadcasts, and this will remain the fact. The NBA on the other hand has teamed up with MGM Resorts to offer a million dollar prize to anyone who predicts the over/under for all 20 teams.
States Push Back Against ‘Integrity Fees’
Score one for the bookies as West Virginia approved sports betting rules that don’t include payments to the pro sports leagues for use of their game data. Lawmakers crafting a regulatory bill in Kentucky say they, too, don’t anticipate their operators will be paying the leagues a dime. Kentucky state Rep. Alan Koenig (l.) told the leagues to go suck an egg.
Philippines Cracks Down on Unlicensed iGaming
The Philippine Amusement and Gaming Corp (PAGCOR) announced it is in the middle of a crackdown on unlicensed online gaming firms operating in the country and sites violating the agency’s Offshore Gaming Regulatory Manual. The regulator said it is working in cooperation with law enforcement and investigations and raids are currently underway. The agency said more than 170 raids have been conducted.
One Year Later
The famed neon way went into eclipse on Monday, October 1, at 10:01 p.m. as resorts on the Las Vegas Strip dimmed their marquees. It was one year to the minute that a gunman opened fire on an outdoor music festival, killing 58 people and wounding hundreds in the worst mass shooting in American history.
Third Connecticut Casino Dealt Critical Blow
The chances of a third Connecticut casino (above) jointly owned by the Mohegan and Mashantucket Pequot tribe grew much more remote last week when a federal court judge ruled that the tribes couldn’t force Interior Secretary Ryan Zinke to approve changes to the compact with the state because they had no standing. The casino is being considered to diminish the impact of MGM Springfield, just 12 miles away in Massachusetts, which opened in August.
Pennsylvania OKs Sports-betting Licenses for Parx, Hollywood Casinos
The Pennsylvania Gaming Control Board has approved the state’s first two sports-betting operations at Parx Casino (l.) in Bensalem, and the Hollywood Casino at Penn National Race Course in Dauphin County. The two casinos hope to launch sports betting by the end of the year. The board also approved two online gaming licenses for the Valley Forge Casino Resort in King of Prussia and the Sands Casino Resort Bethlehem.
Dover Downs Adds NASCAR Betting
Dover Downs Racetrack has added betting to its major NASCAR races under the state’s sports wagering program, run by the Delaware Lottery.
FTC, Nevada Approves Penn National-Pinnacle Deal
After issuing a second request for information in March, the Federal Trade Commission approved Penn Nation Gaming’s $2.8 billion acquisition of Pinnacle Entertainment. The FTC had cited potential unfair competition issues, but agreed to the deal based on Boyd Gaming’s $575 million acquisition of three Pinnacle casinos in Cincinnati, St. Louis and Kansas City. Nevada also gave its regulatory approval, where Penn owns M Resort (l.).
Massachusetts Gaming Commission Picks Leader as Wynn Investigation Arrives
Just as the Wynn investigation was about to end, Massachusetts Gaming Commission Chairman Stephen Crosby stepped down last month after being accused of favoritism. The remaining members voted to elevate Gayle Cameron (l.) to the chair.
Construction Begins on High-Tech Vegas Arena
Ground has broken just off the Strip on the world’s first MSG Sphere. The 18,000-seat bubble-shaped arena, a joint venture between Las Vegas Sands and Madison Square Garden, is slated to debut in 2021 with imagery and sound systems unlike anything to come before it.
Eldorado Resorts Finalizes Tropicana Acquisition
Eldorado Resorts has finished the acquisition of Tropicana Entertainment from Icahn Enterprises and now has full operating rights for the Tropicana casino in Atlantic City (l.). The announcement was quickly followed by a report that Eldorado has fired the Atlantic City casino’s online staff. The $1.85 million deal to acquire Tropicana Entertainment was announced in April.
