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Race to Capitalize on U.S. Sports Betting Set to Continue in 2019 says GamblingCompliance

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The number of U.S. states with legally approved sports betting will more than double in 2019 from 9 to 18 or more as lawmakers capitalize on last year’s U.S. Supreme Court ruling that overturned a federal ban, according to a report published today by GamblingCompliance.

As many as 33 states are expected to consider bills to regulate sports wagering during their 2019 legislative sessions, the ‘2019 U.S. Sports Betting Outlook’ report predicts. Of those, between six and 13 states are tipped to pass legislation, while other states are expected to move forward this year under the terms of laws already on the statute books.

Leading the pack of states most likely to pass bills or adopt implementing regulations are New YorkMichiganIndianaArkansasKentucky and Connecticut, plus the District of Columbia. Other key states to watch include IllinoisMassachusetts and Ohio, but the odds remain stacked against any federal legislation in Congress that might halt the spread of new enabling laws.

Still, getting bills over the goal-line will not prove to be an easy task for state lawmakers.

“Several prominent states will pass bills in 2019, but none of them will find the discussions straightforward or free from lobbying conflict – and lawmakers will invariably find sports betting to be a more complicated issue than they anticipated,” said James Kilsby, Managing Director – Americas for GamblingCompliance and an author of the report.

“If the story of 2018 was the running battle between major sports leagues and gaming interests over sports betting policy, then the lobbying field will be even more crowded this year as the needs of state lotteries, Indian tribes and non-casino sports brands come into play in state houses across the country,” Kilsby said.

GamblingCompliance’s U.S. Sports Betting Tracker, the industry’s go-to analysis service, projects legal sports wagering in the U.S. to be worth approximately $648m in revenue* in 2019, versus an estimated $400m in 2018. Total revenues should then grow to $1bn+ in 2020 and could even exceed $2bn if legislative trends follow GamblingCompliance’s most optimistic scenario for this year.

Elsewhere, the GamblingCompliance report identifies six common legal and lobbying obstacles that will weigh on state legislative processes. It also highlights key market trends to monitor in 2019.

Revenue is the amount retained by sports-wagering operators after all winnings bets are paid. Revenue is not handle, or the total amount staked by bettors.

About GamblingCompliance
Based in London and Washington D.C., GamblingCompliance is the leading provider of independent business intelligence to the global sports betting industry. Our U.S. Sports Betting Tracker service provides the perspective that gaming and sports industry executives, advisers and investors need to capitalize on the emergence of a major new market that is set to become the largest in the world within just a few years. For more information, visit https://gamblingcompliance.com/us-sports-betting

For a free copy of the report, please click here.


Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Race to Capitalize on U.S. Sports Betting Set to Continue in 2019 says GamblingCompliance

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Mobile Betting Bill Fails to Progress Through New York Assembly

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Senator Joseph Addabbo’s mobile betting bill has failed to progress through the New York Assembly. The legislative session saw S17 fail to progress beyond the Assembly Standing Committee on Codes.

Addabbo tweeted that he saw no clear reason why the state could not implement mobile sports betting in 2019. Failure to do so would see the state miss out on around $75m in revenue, funding for education, and both job creation and retention.

“NY will be stuck like a disabled car on the shoulder, while we allow an illegal sports betting business in our state thrive and idly watch other neighboring states pass us up with enormous revenue gains from mobile sports betting,” Addabbo said.


Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Mobile Betting Bill Fails to Progress Through New York Assembly

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Eldorado Resorts to Buy Caesars Entertainment Corp

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Eldorado Resorts Inc., the US based casino operator, has agreed to merge with Caesars Entertainment Corp through a $17.3 billion cash and stock deal.

The deal, which is expected to be announced soon, values Caesars at close to $13 a share. The combined company’s ownership would be split roughly between Eldorado and Caesars shareholders.

An Eldorado spokesman said the company did not comment on rumours or speculation. Caesars did not immediately respond to requests for comment.

The combination of the two companies would create a serious competitor to larger casino industry players, such as Las Vegas Sands Corp, Wynn Resorts Ltd and MGM Resorts International.


Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Eldorado Resorts to Buy Caesars Entertainment Corp

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Nagasaki Governor Reaffirms His Support for Sasebo IR Bid

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Nagasaki Governor Hodo Nakamura has reaffirmed his support for the Sasebo IR bid and urged the national government not to delay too much in issuing its IR regulations and establishing the national regulatory framework.

While Sasebo’s bid is not linked to a specific timeline, the local government does wish to move forward quickly, especially now that other competing bids could emerge from the Kyushu region.

In related news, Nagasaki IR Business Connect Seminar is going to be held with the participation of international operators and investment groups.


Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Nagasaki Governor Reaffirms His Support for Sasebo IR Bid

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