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US Sports Betting Handle: Top 6 States For September 2020
September 2020 produced record-breaking numbers for combined legal sports betting handle in the US. The nation’s 18 legal sports betting jurisdictions (17 states plus Washington D.C.) saw nearly $3 billion in wagers come in for September. The return of NFL and NCAA football bolstered the surging US sports betting industry to its biggest month yet. […]
Bally’s Corporation To Acquire Sports Betting Software Company Bet.Works
Bally’s Corporation has announced it will acquire US-based sports betting platform provider Bet.Works for $125 million. This acquisition rounds out Bally’s Corporation’s existing portfolio, which already includes 14 casinos across 10 states (a few are pending acquisitions). Bet.Works brings sports betting into the fold. In the announcement press release, Bally’s estimates the sports betting and […]
FanDuel Throws Down the Gauntlet; Reports 46% of Sports Betting Market Share in Q3
FanDuel is claiming dominance over the sports betting industry by way of a Q3 Trading Update posted Thursday by parent company Flutter. According to the update, FanDuel Sportsbook now handles a whopping 46% of market share in the online sports betting world, thanks in part to its customer acquisition. According to the report, FanDuel now […]
Is The Gambling Industry Being Absorbed By Tech?
The gambling industry has been part of our culture for centuries, and not just since the advent of casinos. Historians estimate that gambling began before written history, around 3000 BC when it’s estimated the first six-sided dice were used. According to a 2014 American Gaming Association study, the gambling industry was worth $240 billion, including […]
FanDuel Michigan Sports Betting $100 Launch Offer
FanDuel is preparing to launch its sportsbook app and online casino app in the Wolverine State. The state legislature is on the verge of finalizing rules governing online gambling, which is the last step towards officially launching in the state. Eager Michigan sports bettors don’t have to wait for launch to get in on the […]
5 Ways the Pandemic Has Changed Sports Betting
The COVID-19 pandemic has turned our lives upside down and sideways. The sports betting industry has been able to pivot in ways that few expected and companies are taking notice. In the future, we will look back at the COVID-19 pandemic as a major turning point for the sports betting industry. With things constantly in […]
Gambling Stocks Rip Higher on Hopes of COVID-19 Vaccine
Casinos are still reeling from being shut down during the early days of the pandemic, facing gaping holes in revenue streams and an anemic recovery due to continued capacity limitations. COVID-19 has forced gambling companies to change forever out of necessity to stay afloat, which isn’t necessarily a bad thing. COVID-19 resulted in unprecedented chaos […]
MGM Reports $535M Net Loss in Q3; Caesars Continues To Restructure
While Penn National reported strong Q3 earnings, MGM Resorts International did not have the same luck on Thursday. MGM reported revenue of $1.13 billion for Q3 that ended September of 2020. This missed the Zacks Consensus Estimate by 7.61%. It has been a troublesome year for the massive gambling conglomerate. MGM shares have dropped 39.6% […]
Penn National Beats on Earnings; Reports $1.13B in Q3 Revenue
Q3 earnings just dropped for Penn National Gaming this morning and they were strong, as anticipated. The positive results lead to Penn National reporting $1.13 billion in revenue for Quarter 3 slightly beating the consensus expected of $1.1 billion. In Q3, Zacks Consensus estimated a growth of $.48 per share, which is up from $.38 […]
GOP Mega-Donor Sheldon Adelson Reportedly Looking To Sell His Las Vegas Sands Casinos
Las Vegas Sands is reportedly looking to sell its two Las Vegas resorts and its convention center, currently owned by Sheldon Adelson. Sands properties include the upscale casino-hotels the Venetian, the Palazzo, and the Sands Expo Convention Center. Both hotel-casinos are on the Las Vegas Strip, and the convention center is home to various conferences, […]
