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☆ 5 Top Sports-Betting Trends to Watch, From AI to Igaming Regulation
▼ + stars: | 2023-10-18 | by ( Ashley Rodriguez | ) www.businessinsider.com time to read: +9 min

The AI arms raceGambling companies overall are racing to figure out how to use artificial intelligence to supercharge their businesses. She sees potential for AI to help spot problem gambling behavior, as well. IGaming legislation could gain steam in 2024The pace of legal online casino-style gambling, or iGaming, regulation has moved at a glacial pace in the US. It's been a big obstacle for gambling operators because iGaming is generally a more profitable business than sports betting. Many in the industry are hoping for a domino effect when the next significant state legalizes iGaming that spurs others to follow.

Persons: —, Amy Howe, Jason Robins, we're, FanDuel's Howe, David Jacquet, It's, Howe, FanDuel, Travis Kelce, Lewis Hamilton, DraftKings, Robins, PrizePicks, we'll, Adam Greenblatt, he'd, Greenblatt, it's, cybersecurity Organizations: Sports, DFS, Kansas City Chiefs, Underdog, US, American Gaming Association, MGM, Caesars, MGM Resorts, Caesars Entertainment Locations: Las Vegas , Nevada, — Florida, New York, Michigan, G2E

☆ The sports-betting apps that NFL fans in their 20s love — and 3 other key takeaways on the habits of young football devotees
▼ + stars: | 2023-09-26 | by ( Margaret Fleming | ) www.businessinsider.com time to read: +4 min

And a new report sheds light on how those efforts are resonating with younger fans. Compared to NFL fans aged 30 and older, fans in their 20s were three times more likely to place a bet every week. And only 11% of fans in their 30s spent more than $1,000 annually on sports betting, versus 28% of younger fans. That number was just 33% among fans aged 30 and up. Most of these fans said they played in a fantasy league during the 2022 football season, but most older fans didn't.

Persons: YouGov, FanDuel, Barstool, Penn, Fox, sputtered, Barstool Sportsbook, sportsbooks, NFL RedZone, aren't, they're Organizations: NFL, Sports, Penn Entertainment, ESPN Bet, Fox, Bally Bet, Brand, FOX Bet

☆ Ladbrokes owner Entain warns on online gaming revenue
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +2 min

Sept 25 (Reuters) - Ladbrokes owner Entain (ENT.L) warned on its online net gaming revenues for the third quarter and the full-year on Monday, as the British gambling firm grapples with ongoing regulation in the industry, particularly in the UK, and slower growth in Australia and Italy. The owner of online brands bwin and partypoker, said it expects third-quarter online net gaming revenue to be down by "high single digit percent" on a pro-forma basis. It also expects group online gaming revenue for the full year to be down "low single digit percent" on a pro-forma basis. Meanwhile, sports-betting service BetMGM, which Entain jointly owns with MGM Resorts (MGM.N) was on track to report positive core profit in the second half and full-year gaming revenues at the top end of its expectations, the British company said. ($1 = 0.8170 pounds)Reporting by Eva Mathews in Bengaluru; editing by Eileen Soreng and Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Entain, Eva Mathews, Eileen Soreng, Louise Heavens Organizations: MGM Resorts, Turkish, Thomson Locations: Australia, Italy, London, Bengaluru

LAS VEGAS (AP) — A “cybersecurity issue” led to the shutdown of some casino and hotel computer systems at MGM Resorts International properties across the U.S., a company official reported Monday. “MGM Resorts recently identified a cybersecurity issue affecting some of the company’s systems," the company said in a statement that pointed to an investigation involving external cybersecurity experts and notifications to law enforcement agencies. The nature of the issue was not described, but the statement said efforts to protect data included “shutting down certain systems." A post on the company website said the site was down. The company has tens of thousands of hotel rooms in Las Vegas at properties including the MGM Grand, Bellagio, Cosmopolitan, Aria, New York-New York, Park MGM, Excalibur, Luxor, Mandalay Bay and Delano.

Persons: ”, Brian Ahern Organizations: LAS VEGAS, MGM Resorts, MGM, Bellagio, Cosmopolitan, Park MGM Locations: U.S, Las Vegas, Maryland , Massachusetts, Michigan , Mississippi , New Jersey , New York, Ohio, Nevada, , New York, New York, Luxor, Mandalay Bay, Delano, China, Macau

☆ Cybersecurity issue prompts computer shutdowns at MGM Resorts properties across US
▼ + stars: | 2023-09-11 | by ( ) www.cnbc.com time to read: +1 min

The Bellagio hotel and casino in Las Vegas, Nevada, on Friday, July 28, 2023. A "cybersecurity issue" led to the shutdown of some casino and hotel computer systems at MGM Resorts International properties across the U.S., a company official reported Monday. "MGM Resorts recently identified a cybersecurity issue affecting some of the company's systems," the company said in a statement that pointed to an investigation involving external cybersecurity experts and notifications to law enforcement agencies. The nature of the issue was not described, but the statement said efforts to protect data included "shutting down certain systems." The company has tens of thousands of hotel rooms in Las Vegas at properties including the MGM Grand, Bellagio, Cosmopolitan, Aria, New York-New York, Park MGM, Excalibur, Luxor, Mandalay Bay and Delano.

Persons: Brian Ahern Organizations: MGM Resorts, MGM, Bellagio, Cosmopolitan, Park MGM Locations: Bellagio, Las Vegas , Nevada, U.S, Las Vegas, Maryland , Massachusetts, Michigan , Mississippi , New Jersey , New York, Ohio, Nevada, , New York, New York, Luxor, Mandalay Bay, Delano, China, Macau

☆ Fanatics and ESPN are ready to shake up sports betting this fall. Here are the 5 battlegrounds to watch during the biggest gambling season of the year.
▼ + stars: | 2023-09-08 | by ( Ashley Rodriguez | Margaret Fleming | ) www.businessinsider.com time to read: +10 min

The start of the regular NFL season kicks off the biggest sports-betting season of the year. Here are the battlegrounds to watch as Fanatics and ESPN Bet enter and Bet365 gains share. The NFL kicked off Thursday night, and so did the biggest season of the year for US sports betting. It ranked fourth among more than 40 apps in EKG's national panel of "secret shopper"-style app testers — behind only FanDuel, DraftKings, and PointsBet. "There's one strategy: you have to be early, you have to be ahead of the start of the season," Beynon said.

Persons: We've, Macquarie, Chad Beynon, Bet365, Chris Krafcik, Krafick, EKG, Penn, It's, Sportsbook, isn't, Beynon, That'll, DraftKings, it's, BetMGM, Entain, Wynn Organizations: NFL, Bank of America, ESPN Bet, Penn Entertainment, Fox, Krejcik, ESPN, DraftKings, Penn, BetMGM, Caesars, MGM, Angstrom Sports, Wynn Resorts, Rush, Interactive Locations: Ohio, Colorado, Virginia, BetMGM, FanDuel, Macquarie, Las Vegas, Chicago, Connecticut

☆ Wall Street says these gaming stocks have big upside as NFL kick-off boosts interest
▼ + stars: | 2023-09-08 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

The NFL season began on Thursday, with the Detroit Lions defeating the Kansas City Chiefs. The gaming stocks listed below have buy ratings from more than 60% of analysts and upside to the average price target of greater than 20%, according to FactSet. Caesar's Entertainment has the most upside on the list, with an average price target 37% above its most recent closing price. Barclays analyst Brandt Montour said in a Sept. 7 note to clients that Caesar's could see a boom in non-sports online gambling. DraftKings is Needham's top pick in gaming, though the average analyst price target on the stock is below 20%.

Persons: Brandt Montour, We're, Montour, skews, Churchill, FactSet, DraftKings, Needham, DKNG, Bernie McTernan, — CNBC's Michael Bloom Organizations: NFL, Wall Street, Detroit Lions, Kansas City Chiefs, Caesar's Entertainment, Barclays, MGM Resorts International, Kentucky Derby Locations: U.S, 3Q23

William Purnell | Icon Sportswire | Getty ImagesAs legalized sports gambling expands across the U.S., a record 73.5 million Americans plan to wager on the NFL this season, according to the American Gaming Association's latest survey on Americans' betting plans released Wednesday. Last year, an estimated 46 million people bet on the NFL in the U.S., according to the AGA. Out of all U.S. adults, 35.1 million people or 14% plan to bet online, while 13.6 million or 5% plan to bet at a physical sportsbook. Self-identified NFL fans are expected to place more bets than ever this season, with 37% projected to place a wager. "We expect this to be the most bet NFL season in BetMGM's history," Seamus Magee, trading team lead at BetMGM, told CNBC in an email.

Persons: Josh Allen, William Purnell, Seamus Magee Organizations: Buffalo, AFC Divisional, Kansas City Chiefs, Arrowhead, Getty, NFL, American Gaming, CNBC Locations: Kansas City , Missouri, U.S

☆ How ESPN's $2 billion deal with Penn Entertainment could shake up sports betting, from reinvigorating competition to evolving media's relationship with gambling
▼ + stars: | 2023-08-14 | by ( Ashley Rodriguez | Margaret Fleming | Lucia Moses | ) www.businessinsider.com time to read: +11 min

Many view the deal as a "win-win" for ESPN, Penn, and its former partner Barstool Sports. Industry insiders say the deal could signal a potential ESPN spinoff, disrupt competition, and more. Here's what industry insiders are saying about the deal:1. FanDuel and DraftKings dominate US online sports-betting and gambling market share, followed by BetMGM, according to a July report from Macquarie that analyzed Vixio data. Industry insiders like affiliate-marketing company Gambling.com Group's Max Bichsel aren't sure about that prediction.

Persons: Barstool, Bob Iger, Penn, sportsbooks, who's, Chris Grove, Dave Portnoy, Portnoy, Fox's, Sharp, Sharp Alpha Advisor's Lloyd Danzig, Dan, Danzig, Brandon Nispel, he's, Nispel, Kimberly White, FanDuel, BetMGM, Zachary, Max Bichsel aren't, Bichsel, I'm, Grove, It's, DraftKings, let's, FuboTV, hasn't, Fox Bet, Ed Moed, Fox, Dan Wasiolek, Wasiolek Organizations: ESPN, Penn Entertainment, Penn, Barstool Sports . Industry, ESPN Bet, Investors, Acies Investments, Barstool Sports, Sharp Alpha, Disney, KeyBanc, CFRA Research, . Industry, ESPN —, Fox, Maxim Magazine, Sports, Fox Bet, Morningstar Locations: Macquarie, Canada

☆ Disney's big sports-betting deal has industry insiders abuzz about possibilities, from a potential ESPN spinoff to heightened competition
▼ + stars: | 2023-08-09 | by ( Ashley Rodriguez | Margaret Fleming | Lucia Moses | ) www.businessinsider.com time to read: +11 min

Many view the deal as a "win-win" for ESPN, Penn, and its former partner Barstool Sports. Industry insiders say the deal could signal a potential ESPN spinoff, disrupt competition, and more. Gambling industry insiders thought Disney CEO Bob Iger might make quick work of setting a sports-betting strategy when he took back the reins of the ESPN owner late last year. Here's what industry insiders are saying about the deal:1. Industry insiders like affiliate marketing company Gambling.com's Max Bichsel aren't sure about that prediction.

Persons: Barstool, Bob Iger, Penn, sportsbooks, who's, Chris Grove, Dave Portnoy, Portnoy, Fox's, Sharp, Sharp Alpha Advisor's Lloyd Danzig, Dan, Danzig, Brandon Nispel, he's, Nispel, Kimberly White, FanDuel, BetMGM, Zachary, Gambling.com's Max Bichsel aren't, Bichsel, I'm, Grove, It's, DraftKings, let's, FuboTV, hasn't, Fox Bet, Ed Moed, Fox, Dan Wasiolek, Wasiolek Organizations: ESPN, Penn Entertainment, Penn, Barstool Sports . Industry, ESPN Bet, Investors, Acies Investments, Barstool Sports, Sharp Alpha, Disney, KeyBanc, CFRA Research, . Industry, ESPN —, Fox, Maxim Magazine, Sports, Fox Bet, Morningstar Locations: Macquarie, Canada

☆ Britain's Entain to buy U.S.-based Angstrom Sports for $160 mln
▼ + stars: | 2023-07-17 | by ( ) www.reuters.com time to read: +1 min

July 17 (Reuters) - Ladbrokes-owner Entain (ENT.L) on Monday agreed to acquire U.S.-based Angstrom Sports for 122 million pounds ($159.5 million) as it looks to widen its footprint in the country. The acquisition of the sports modelling, forecasting and data analytics company will comprise a total consideration of 81 million pounds and contingent payments over three years, the company said in a statement. Over the years, Entain has added several betting groups to its portfolio to expand into Canada, the Netherlands and other parts of Europe. The acquisition of Angstrom is expected to be completed in the third quarter of 2023. ($1 = 0.7651 pounds)Reporting by Radhika Anilkumar in Bengaluru; Editing by Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

Persons: Entain, Jette Nygaard, Andersen, BetMGM, Radhika Anilkumar, Dhanya Ann Thoppil Organizations: U.S, Sports, MGM Resorts, Angstrom, Thomson Locations: parlay, Canada, Netherlands, Europe, Bengaluru

☆ Marriott and MGM link loyalty programs in a bid on business travelers
▼ + stars: | 2023-07-17 | by ( Contessa Brewer | ) www.cnbc.com time to read: +3 min

Marriott and MGM Resorts International announced a partnership Monday to link their loyalty programs and give customers more options for cashing in. Under the deal, MGM guests in the United States can earn Marriott Bonvoy rewards points and Bonvoy members will in turn have access to 17 MGM properties when they spend their points. Those loyalty programs drive business and help to differentiate competitors at a time when travel is continuing to rebound from a pandemic pause. Marriott CEO Tony Capuano said MGM Resorts brings a wealth of intellectual property to the portfolio as well as entertainment, high-end culinary options and other one-of-a-kind experiences. Customers of MGM's sportsbook will earn Bonvoy points on some transactions, and Bonvoy members will see MGM sportsbooks marketing on the Marriott site.

Persons: Bill Hornbuckle, Bonvoy, Tony Capuano, Capuano, Hornbuckle, sportsbook, Adam Greenblatt, Dawn Giel, Jessica Golden, Kasey O'Brien Organizations: Marriott, MGM Resorts International, MGM, CNBC, Las, Cosmopolitan, MGM Resorts, Caesars, Entain Locations: United, Vegas, United States

☆ NBA: Finals-Denver Nuggets at Miami Heat
▼ + stars: | 2023-06-09 | by ( ) www.reuters.com time to read: +5 min

[1/5] Jun 7, 2023; Miami, Florida, USA; Denver Nuggets center Nikola Jokic (15) shoots the ball over Miami Heat guard Max Strus (31) during the third quarter in game three of the 2023 NBA Finals at Kaseya Center. Mandatory Credit: Jim Rassol-USA TODAY SportsJune 9 - The Denver Nuggets stand two victories away from their first NBA title, and their top two players are coming off historic performances. But the Nuggets remember their Game 2 home loss and know they will need to deliver a supreme effort on Friday night when they visit the Miami Heat in Game 4 of the NBA Finals. Denver holds a 2-1 edge in the best-of-seven series and is setting out to win back-to-back games in Miami. --The Nuggets have won eight of their past nine games against the Heat and have covered the spread in four consecutive road games.

Persons: Nikola Jokic, Max Strus, Jim Rassol, Jamal Murray, Jokic, Hall, Wilt Chamberlain, Kareem Abdul, Jabbar, Murray, Jeff Green, Jamal, Bam Adebayo, Adebayo, Tyler Herro, Erik Spoelstra, Herro, Jimmy Butler Organizations: Denver Nuggets, Miami Heat, Kaseya Center, NBA, Nuggets, Denver, Hall of Fame, Milwaukee Bucks, Miami, Boston Celtics, Eastern Conference, Thomson Locations: Miami , Florida, USA, Miami, BetMGM, BetRivers, Jokic, Denver

☆ European gambling company Entain is nearing a deal to buy a sports pricing and analytics firm for about $200 million, sources say
▼ + stars: | 2023-05-18 | by ( Ashley Rodriguez | ) www.businessinsider.com time to read: +2 min

Entain is nearing a deal to buy pricing and analytics company Angstrom Sports, sources say. Pricing and analytics companies are attracting M&A buzz in sports betting. European gambling operator Entain is nearing a deal to buy the London-based pricing and analytics company Angstrom Sports, three people familiar with the discussions told Insider. The deal could be worth around $200 million, though the terms have not yet been agreed upon, the people said. Pricing and analytics companies are among several smaller pockets of the sports-betting industry where M&A is heating up.

☆ Fanatics' first big sports-betting acquisition could reignite M&A in the sector, as rumors fly and buyers 'smell blood in the water'
▼ + stars: | 2023-05-18 | by ( Ashley Rodriguez | ) www.businessinsider.com time to read: +7 min

Fanatics' first big sports-betting acquisition could be the spark that reignites M&A in the sector. Industry insiders speculate on what deals could come next. It's go time for M&A in sports betting as newcomer Fanatics makes its first big acquisition in the sector and rumors fly about who will be snapped up next. On Sunday, Australia's PointsBet announced it had agreed to sell its US operations to Fanatics' betting and gaming division for about $150 million in cash. "I think Fanatics smells blood in the water," said one industry consultant who had been following Fanatics closely.

☆ Fanatics moves one step closer to IPO, hiring Meta's head of investor relations
▼ + stars: | 2023-04-27 | by ( Ian Thomas | ) www.cnbc.com time to read: +7 min

While an IPO is not on the immediate horizon, the company is taking a step in the direction of preparing for one, hiring Meta's investor relations head to further build out its engagement with current and future shareholders. Deborah Crawford, who has served as Meta 's vice president of investor relations for more than eight years, is being appointed as Fanatics' head of investor relations, a new position at the company. Prior to Meta, Crawford was head of investor relations for Netflix, where she helped initiate the streaming company's first formal investor relations function, according to Fanatics. Schiffman declined to comment on the potential timing of a Fanatics IPO but confirmed the company has a goal of going public. Fanatics has seen its valuation and investor roster drastically expand in recent years, which has also helped to fuel IPO chatter.

☆ Betting on WWE matches? 'NFW!' say gaming operators and regulators
▼ + stars: | 2023-03-10 | by ( Contessa Brewer | ) www.cnbc.com time to read: +3 min

"The Colorado Division of Gaming is not currently and has not considered allowing sports betting wagers on WWE matches," they said. It issued a public statement advising WWE to work with the gaming industry. replied Adam Greenblatt, CEO of BetMGM, whether he would be eager to accept wagers on the WWE's scripted matches. The American Gaming Association, which represents both commercial and tribal operators, told CNBC: "Both regulators and operators must have confidence in the integrity of the competitions." "Ultimately, most industry stakeholders seem to view WWE betting as even more optically-challenging than betting on awards shows," Sharp Alpha Advisors managing director Lloyd Danzig said.

☆ BetMGM CEO Adam Greenblatt on betting on WWE
▼ + stars: | 2023-03-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBetMGM CEO Adam Greenblatt on betting on WWEThe BetMGM CEO reacts to reports that WWE is trying to legalize scripted gambling.

FanDuel expected to handle more than 17 million Super Bowl bets. GeoComply , a company that verifies the locations where gamblers are betting, saw 100 million sports betting transactions this Super Bowl weekend, an increase of 25% over last year. It was a record-breaking Super Bowl for sportsbooks as gamblers ponied up across the United States. "This was BetMGM's most successful Super Bowl and most bet on single game sporting event ever," the company told CNBC. Already, sportsbooks are accepting wagers for next year's Super Bowl, which, for the first time, will take place in America's gambling capital – Las Vegas.

☆ An estimated $16 billion worth of bets will be placed on the Super Bowl
▼ + stars: | 2023-02-12 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +5 min

New York CNN —With more states legalizing gambling on sports, Super Bowl LVII will probably be the biggest event for the industry ever. But how will casino and online/mobile sports betting companies stand out in an increasingly crowded field? “We have prepared for this Super Bowl like never before,” Greenblatt said. That’s more than double the number of wagers on last year’s Super Bowl. That’s different from 2021 when customer growth was being rewarded.”That being said, both DraftKings and FanDuel still plan to advertise during this year’s Super Bowl.

☆ Watching the Super Bowl? Bettor Beware
▼ + stars: | 2023-02-11 | by ( Danny Funt | ) www.wsj.com time to read: 1 min

Sunday’s Super Bowl is likely to generate more legal bets than any sports contest in American history. “You can guarantee it,” said Jason Scott, who oversees oddsmaking at BetMGM. Sportsbooks are bullish about the big game, in part because some of the trendiest ways to wager stack the odds against customers even more than usual. For the average fan, it is easier than ever to bet on sports, and harder than ever to win long term.

☆ Online sports betting is surging. So is gambling addiction
▼ + stars: | 2023-02-10 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +10 min

The booming sports betting industry, lawmakers and even the professional sports leagues themselves are making it easier, faster and more tempting for people to bet on games — and develop gambling problems, say gambling researchers and addiction specialists. A flood of advertising, technology that allows for one-click betting at home, and nearly unlimited betting options during games have collided. The sports gambling industry is most similar to financial markets, he said, but financial markets are much more regulated than banks. Most states require that sports betting ads disclose the minimum legal age to gamble and responsible gambling messages, such as problem gambling hotlines. From DraftKingsRegulators are wary of how tightly they can curtail messages in gambling advertising without running afoul of First Amendment protections on commercial speech.

☆ With record Super Bowl wagers expected, here are Wall Street's top sports-betting stocks
▼ + stars: | 2023-02-10 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

The names were a member of Roundhill Sports Betting & iGaming ETF , VanEck Gaming ETF , and/or iBet Sports Betting & Gaming ETF . Of the gaming companies on the list, Caesars Entertainment has the most upside to the average analyst price target, 26.2%. Caesars gaming empire includes Caesars Sportsbook, which came out of the company's 2021 $4 billion acquisition of William Hill . MGM Resorts follows with 23% upside to the average analyst price target. The stock, which has gained nearly 6% so far this year, has 11% upside to the average analyst price target.

☆ Entain's shares tumble as MGM scraps buyout plan
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: 1 min

Feb 9 (Reuters) - Shares of Entain plc (ENT.L) tumbled up to 13% on Thursday after the U.S-based MGM Resorts International (MGM.N) said it had "moved on" from pursuing an offer for the British gambling firm. MGM Chief Executive William Hornbuckle said in a post-earnings call on Wednesday that although it remained focused on online sportsbook BetMGM - a joint venture with Entain - it saw great potential in the expansion of Swedish online gaming company LeoVegas, which it bought last year. Entain's shares fell as much as 13% to an over one-month low of 1365.5 pence in morning trade. Reporting by Radhika Anilkumar in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

☆ Super Bowl Betting Projected to Hit Record $16 Billion
▼ + stars: | 2023-02-07 | by ( Katherine Sayre | ) www.wsj.com time to read: 1 min

Gambling on this weekend’s Super Bowl is expected to reach record-breaking levels, with more than 50 million Americans projected to bet $16 billion on the championship game, according to a gambling-industry trade group. Super Bowl LVII is also the first National Football League Championship to be played in a state with legalized sports betting. Fans inside State Farm Stadium in Glendale, Ariz., will be able to place mobile-phone bets during the game between the Kansas City Chiefs and the Philadelphia Eagles on Sunday. Gambling operator BetMGM last year opened a sports-betting outlet at the stadium grounds.

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