Fantasy Sports News

Connecticut betting and gaming market continues to grow in January

Connecticut’s sports betting and iGaming market surpassed $1bn for the fifth consecutive month as January wagers climbed 16 per cent to $1.09bn.

Wagers from iGaming increased by 18.5 per cent year-on-year to $924.6m, while online sports betting wagers rose 4 per cent to $156.1m and retail sports betting wagers rose 33 [...]

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DraftKings posts $1.38bn loss in 2022 despite strong revenue gains

New York-listed sportsbook and iGaming operator DraftKings has reported a 73 per cent increase in revenue to $2.24bn for 2022, driven by a strong finish to the year in the final quarter.

Revenue in Q4 exceeded expectations and increased by 81 per cent to $855m, buoyed by successful launches of DraftKings’ [...]

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Detroit, Michigan

Detroit casinos grow January revenue despite retail sportsbook decline

Michigan’s three commercial casinos in Detroit have reported a 3 per cent increase in combined land-based casino and retail sportsbook revenue to $103.5m in January.

Combined slots and table revenue rose by 4 per cent versus a year ago to $103.4m, with MGM Grand Detroit accounting for nearly half of the [...]

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Impairment charges push Bally’s Q4 net loss to $476.8m

New York-listed betting and gaming operator Bally’s Corporation expects to post a net loss of $476.8m for the final quarter of 2022, with results negatively impacted by non-cash impairment charges of $464.0m relating to its Interactive segments.

Bally’s said Monday that Q4 revenue is expected to climb 5 per cent year-on-year [...]

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Robeson Reeves to succeed Lee Fenton as Bally’s new CEO

Bally’s Corporation has appointed Robeson Reeves as its new chief executive to replace Lee Fenton, who steps down at the end of March.

Reeves currently serves as president of interactive and will take over as CEO on 31 March.

He replaces Fenton, who became Bally’s CEO in October 2021 following the acquisition [...]

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Nevada casinos recover from pandemic as net income reaches $4bn in FY22

Nevada’s land-based casinos recovered strongly from the pandemic downturn and generated net income of $4.13bn in the fiscal year to 30 June 2022, according to the latest Nevada Gaming Abstract released by the state’s Gaming Control Board.

The Nevada Gaming Abstract brings together the financial information for gaming licensees which have [...]

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South Carolina bill targets online sports and horse race betting

A bipartisan group of 12 lawmakers have introduced legislation in South Carolina to legalize and regulate interactive wagering.

The proposed legislation was prefiled in December and introduced and read for the first time in the House on January 19, before being referred to the House Ways and Means Committee.

The bill would [...]

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Pennsylvania betting and gaming revenue hits record $5.21bn in 2022

Pennsylvania’s gambling market reached new heights in 2022 as total revenue from all forms of gaming increased by 10 per cent to $5.21bn, buoyed by another record performance in December.

December’s total revenue grew by 17 per cent year-on-year to $475.0m, surpassing the market's previous monthly record set in March 2022.

This [...]

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Connecticut iGaming wagers surpass $1bn for first time in December

Connecticut’s sports betting and iGaming market hit a new record high in December as total wagers reached $1.16bn, with iGaming wagers surpassing $1bn for the first time.

December’s wagers were higher than October’s previous record of $1.14bn and marked the fourth consecutive month that combined sports betting and iGaming wagers surpassed [...]

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Detroit, Michigan

Detroit casinos report gaming and retail sportsbook decline in 2022

Michigan’s three commercial casinos in Detroit have reported combined land-based casino and retail sportsbook revenue of $1.28bn for 2022.

Total annual revenue declined by 1 per cent compared to 2021, and comprised $983.7m in slots revenue, $273.3m in table games revenue, and $18.8m in retail sports betting revenue.

Combined slots and table [...]

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Kentucky introduces sports betting and online poker bill

Lawmakers in Kentucky have introduced a new bill to legalise sports betting, fantasy sports and online poker in the state.

The bill will enable the Kentucky Horse Racing Commission to introduce sports betting in the state at racetracks, as well as via online and mobile channels.

A licensed track will be allowed [...]

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India proposes amendments to Digital Media Ethics Code

India’s Ministry of Electronics and Information Technology has launched a public consultation on proposed amendments relating to online gaming.

The proposed amendments to the IT (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021 aim to establish basic rules for online games which involve a deposit with the expectation of earning [...]

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