About the Author
Brian Carlton
Much-Ballyhooed IRS Memo Doesn’t Change Anything For DraftKings
There’s one key part missed in coverage of the DraftKings IRS memo. This is not a legal document, this is legal advice. The July 23 memo, which just got released in late August, involves one IRS lawyer giving his perspective to another when asked. No, this doesn’t immediately cause any type of law to go […]
DraftKings Earnings Call: Southern State Push Ahead, eSports Will be ‘Huge Category’
A lack of major sports didn’t hurt DraftKings during the second quarter. Gamers simply found new things to bet on, said DraftKings CEO Jason Robbins. Speaking during Friday’s second quarter earnings call, Robbins pointed to the company’s sports betting launch in Colorado and Illinois, as well as iGaming in West Virginia as key drivers. But […]
BetMGM Becomes Focal Point for Company’s Recovery
It’s been a good month for MGM International. After a second quarter that saw the company’s revenue drop 91 percent, MGM is in recovery mode thanks to a recent series of deals. The latest came Aug. 11, when technology giant InterActive Corp purchased 12 percent of MGM’s stock in a $1 billion sale. Before that, […]
Gaming Stocks Climb as Macau Lifts Some Restrictions on Visitors
For the first time since January, tourists from mainland China will be able to visit Macau starting later this week. The news, announced in a Monday press conference, sent some U.S. gaming stocks soaring to their highest levels in more than a month. Companies and traders reacted to what they saw as possibly the first […]
Catawba Tribe Moves Forward on $300 Million North Carolina Casino Project
If all goes according to plan, a new $300 million casino will open its doors in North Carolina next summer. The Catawba Nation broke ground on the property last month, located in the southern part of the state near Kings Mountain. If the doors open as planned in 2021, gamers won’t see the finished product. […]
DraftKings Deal Helps Along Expansion of Casino Queen in Illinois
A new partnership will help one Illinois casino expand its reach. On July 23, Casino Queen announced the company will rebrand as part of a deal with DraftKings. In many ways, the deal mirrors one signed earlier this year between Penn National and Barstool Sports, with one key exception. Officials from both Casino Queen and […]
Bellagio Freezes Over $200,000 in Payouts Linked to Disastrous Sportsbook Error
A misprint caused what might be the largest sports betting loss in Las Vegas history. The Bellagio is refusing to pay most of the tickets, however, as MGM waits for the results of a Nevada Gaming Control Board investigation. The situation happened early morning on June 28, involving nearly $250,000 in bets for Korean Baseball […]
New Jersey Casinos Will Reopen July 2 As U.S. Coronavirus Cases Surge
New Jersey casinos will open their doors on Thursday, as long as they follow certain guidelines. This past week, Gov. Phil Murphy laid out the requirements for companies to follow, saying COVID-19 cases were under control in the state, even as cases raging across parts of the country have prompted backtracking on reopening. “We have […]
California Sports Betting Bill Withdrawn Following Tribal Lawsuit, Legislative Impasses
It’ll be at least 2022 before California residents can vote on sports betting. On Monday, June 22, State Senator Bill Dodd announced he was pulling his bill, SCA 6, due to opposition from more than 25 tribes. Earlier this month, everyone appeared to be on the same page. The California Senate Committee on Government Organization […]
$400 Million Caesars Casino Could Be Coming To Virginia
Southern Virginia could be home to a new $400 million Caesars casino by 2023. That’s the plan in Danville, where city officials have a deal with the company, pending a vote this coming November. In March 2019, Virginia Gov. Ralph Northam signed a bill granting limited gaming in the commonwealth. The bill restricted casinos to […]