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Six years later, sports betting has exploded across the United States, as 38 states have legalized it. The bill addresses three key areas tied to sports betting: advertising, affordability and artificial intelligence. It would mandate gambling operators ensure customers who wager more than $1,000 can afford to do so. "The gambling industry is following a playbook developed by the tobacco industry and this is a direct threat to public health," said Richard Daynard, a law professor and president of the Public Health Advocacy Group at Northwestern. The sports betting operators, meanwhile, are fighting back and saying the industry has brought benefits.
Persons: Sen, Richard Blumenthal, Paul Tonko, Conn, Tonko, It's, Gordon Douglas, he's, Andrew Douglas, Douglas, Blumenthal, Richard Daynard, Chris Cylke, Clyke, Dina Titus, — CNBC's Contessa Brewer Organizations: U.S, Capitol, Sports, American Gaming Association, National Institutes of Health, National Council, Public Health, Northwestern, American Gaming Association's Locations: Washington ,, United States, U.S
Ulysses “Junior“ Bridgeman attends Day 2 of 2023 Invest Fest at Georgia World Congress Center on August 27, 2023 in Atlanta, Georgia. Businessman and former NBA player Ulysses Lee "Junior" Bridgeman is buying a 10% stake in the Milwaukee Bucks, according to three sources familiar with the deal. The transaction will value the team at $4 billion. NBA owners will be notified of the sale in a memo Thursday, added the sources, who asked to remain anonymous because the details of the deal are not public. Bridgeman and the Bucks did not immediately respond for comment.
Persons: Ulysses “, “ Bridgeman, Ulysses Lee, Junior, Bridgeman, Ebony Organizations: Invest, Georgia World, Center, NBA, Milwaukee Bucks, Bucks Locations: Atlanta , Georgia
This season, the NFL will play five games abroad in Europe and South America. "The reality is, when we bring our brand of our regular season games here, it creates a whole new environment," Goodell said. Goodell said it has been a learning process playing games abroad, as the league sees how players handle long flights and different time zones. Some games are streaming exclusive, including Friday's matchup in Brazil, which will air on NBC's Peacock platform. Yet, Goodell said 85% of NFL games are still available on broadcast television.
Persons: Roger Goodell, CNBC's, Goodell, they'll Organizations: National Football League, NFL, Southern Hemisphere, Official NFL, Global, Miami Dolphins, Los Angeles Rams, Seattle Seahawks, CNBC, Fox, ESPN, ABC, CBS, YouTube, Netflix Locations: South America, Sao Paulo, Brazil, Europe, London, Germany, Argentina, Colombia, South Korea, Japan, Canada, Austria, Switzerland
Four-time NBA Champion Steph Curry is already planning for life after basketball. The 10-time NBA All-Star spoke to CNBC's "Squawk on the Street" on Tuesday about the rest of his basketball career, his various businesses and goals for after his playing career ends. The 36-year-old Curry has a media company, Unanimous Media, and a youth golf tour, Underrated, among other ventures. He told CNBC he is also interested in NBA team ownership one day. That contract will expire when Curry is 39 — and the guard who led the U.S. men's basketball team to an Olympic gold medal in Paris last month said he still has a lot of NBA basketball ahead of him.
Persons: Steph Curry, Curry, that's Organizations: Unanimous Media, CNBC, NBA, Golden State Warriors, U.S Locations: Paris
U.S. adults will wager $35 billion this NFL season, according to projections from the American Gaming Association. Since last NFL season, Maine, North Carolina and Vermont have allowed sports betting operators to launch in their states. "The NFL season is our biggest acquisition period of the year," said Christian Genetski, president of FanDuel, the nation's leading sportsbook. Since then, Fanatics Sportsbook acquired PointsBet's U.S. operations and technology, which is now fully integrated. It first launched in November last year, smack in the middle of NFL season.
Persons: Joe Milton III, Kyu Blu Kelly, Scott Taetsch, Churchill, Christian Genetski, FanDuel, It's, Michael Rubin's, Sportsbook, Pavlo Gonchar, Matt King, King, DraftKings, Penn, Jay Snowden, Gabby Jones Organizations: New England Patriots scrambles, Getty, American Gaming Association, National Football League, NFL, International, Caesars, MGM Resorts, New York Stock Exchange, Rush Street Interactive, FanDuel, YouTube, PointsBet's, Lightrocket, CNBC, Penn Entertainment, ESPN Bet, Disney, ESPN, Bloomberg Locations: Landover , Maryland, Maine, North Carolina, Vermont, Florida, Washington, Penn, Entain, New York
Life Time fitness club company said it has created the "ultimate" ball for the booming sport of pickleball. On Friday, the upscale fitness and lifestyle company announced it has created what it dubs "the ultimate pickleball." "Our goal is to provide the right venues for people to play, the right experience, the right consistency," Akradi added. Life Time also hosts professional tournaments at its clubs for Major League Pickleball and the Professional Pickleball Association. The company has also teamed up with tennis legend Andre Agassi and top-rated pickleball player Ben Johns to grow the sport further.
Persons: pickleballs, Bahram Akradi, Akradi, Major League Pickleball, Lululemon, Andre Agassi, Ben Johns Organizations: Major League, Professional Pickleball Association Locations: pickleball
Paige Bueckers has kicked off her partnership with Madison Reed by going from blond to "sparkling rose." The University of Connecticut has struck a deal with beauty brand Madison Reed in a wide-ranging partnership that includes court-naming rights; name, image and likeness deals; and career development opportunities. Exact terms of the deal were not disclosed, but the partnership is in the multimillion-dollar range, according to Madison Reed. As part of the deal, Madison Reed will sponsor UConn's Gampel Pavilion and XL Center with court-naming rights for the next three years. The sponsorship marks the first female and grad-founded brand to gain court-naming rights at UConn.
Persons: Paige Bueckers, Madison Reed, UConn's, Azzi Fudd, Ice Brady, Morgan Cheli, Amy Errett, Errett Organizations: University of Connecticut, Madison, XL Center, UConn women's, Amazon, Target, Walmart, UConn Foundation, UConn, CNBC
Mobile betting powerhouse DraftKings is planning a tax on consumers in states with the highest sports betting tax rates, as the company looks to boost profit. The company announced Thursday that starting next year it will implement a gaming surcharge on winning bets in states with multiple betting operators and where the tax rate is above 20%. Fears of tax hikes in gaming pressured DraftKings stock and other betting companies like FanDuel back in May, when Illinois approved a tax hike on sports betting revenue. The sliding tax rates impose 40% levies on companies with the largest adjusted gross revenue. New York and New Hampshire each maintain 51% tax rates on sports betting companies.
Persons: Jason Robins, LSEG, Robins Organizations: Mobile, CNBC Locations: Illinois, New York , Pennsylvania, Vermont, York, New Hampshire
University of Connecticut star Paige Bueckers will sign a name, image and likeness deal with the new women's basketball league Unrivaled, people familiar with the matter told CNBC. Unrivaled was founded last year by Women's National Basketball Association players Breanna Stewart of the New York Liberty and Napheesa Collier of the Minnesota Lynx. In February, Bueckers announced she would forgo the 2024 WNBA Draft to return to UConn for her senior season. Unrivaled was started as a way to allow WNBA basketball players the option to play in the U.S. during their offseason. Angel Reese of the Chicago Sky was the first player from this year's WNBA rookie class to join the league.
Persons: Paige Bueckers, Breanna Stewart, Napheesa Collier, Bueckers, Stewart, Collier, Chelsea Gray, Kelsey Plum, Angel Reese, Geno Auriemma, Carmelo Anthony, Steve Nash, Alex Morgan, Megan Rapinoe, John Skipper, David Levy, Ashton Kutcher Organizations: UConn Huskies, NCAA, Iowa Hawkeyes, Mortgage, University of Connecticut, CNBC, Women's National Basketball Association, New York Liberty, Minnesota Lynx, WNBA, UConn, Las Vegas Aces, Dallas Wings, Chicago Sky, Bueckers, National Basketball Association Locations: Cleveland , Ohio, U.S
Ilona Maher, #2 of Team USA, celebrates following a victory during the Women's Rugby Sevens Bronze medal match between Team USA and Team Australia on day four of the Olympic Games Paris 2024 at Stade de France in Paris, France, on July 30, 2024. Ilona Maher became one of the Paris Olympics' heroes after leading the U.S. rugby team to its first-ever Olympic medal for men or women. The 27-year-old, frequently clad in bright red lipstick, helped Team USA bring home the bronze medal in a nail-biting win over Australia on Tuesday. Businesswoman and investor Michele Kang, who also owns professional soccer teams, announced a $4 million gift to the USA women's rugby sevens team in a bid to grow the sport. Sevens refers to the teams that comprise up to seven people in that variation of rugby.
Persons: Ilona Maher, Maher, Fresh, Michele Kang Organizations: Team USA, Women's Rugby, Team Australia, Olympic Games, Stade de France, Paris Olympics, U.S ., Australia, CNBC, U.S, USA women's rugby Locations: Paris, France, Vermont, Los Angeles
Washington, D.C., Attorney General Brian Schwalb sued the online ticket exchange platform StubHub on Wednesday, alleging deceptive and unfair pricing. The lawsuit claims StubHub uses deceptive advertising of low ticket prices to lure consumers who pay vastly more after an arduous checkout process. "This is no accident — StubHub intentionally hides the true price to boost profits at its customers' expense," Schwalb said in a statement. In its lawsuit, the attorney general's office said that from 2014 to 2015, StubHub used "all-in pricing," in which the advertised price included mandatory fees. The complaint alleged that StubHub did a testing period where it randomly assigned consumers to one of the two models.
Persons: Brian Schwalb, Schwalb, StubHub, Eric Baker, Viagogo Organizations: San Francisco . Washington , D.C, Labor, of Columbia, Washington , D.C, eBay Locations: San Francisco . Washington ,, Washington ,
Willow Bay and Bob Iger will take a controlling stake in Angel City Football Club, the world's most valuable women's professional sports team. On Wednesday, Angel City of the National Women's Soccer League announced the couple had agreed to an investment of an undisclosed amount that values the team at $250 million. The club said Bay and Iger will invest an additional $50 million in the club's future growth. Bay will serve on and have full control of the Angel City FC board, the team said. Last year, Angel City FC generated the highest revenue of any women's team in the world.
Persons: Bob Iger, Willow Organizations: Walt Disney Co, Allen & Company Sun Valley Conference, Angel City Football Club, National Women's Soccer League, Angel City FC, ACFC Locations: Sun Valley , Idaho, Willow, Angel City
Cameron Brink #22 of the Los Angeles Sparks plays defense against Bridget Carleton #6 of the Minnesota Lynx on June 5, 2024 at Crypto.com Arena in Los Angeles, California. Juan Ocampo | National Basketball Association | Getty ImagesNew Balance on Tuesday announced a multiyear deal with the WNBA, joining a growing roster of backers for women's sports. The agreement will make New Balance an official partner of the WNBA and will include broadcast, digital and retail content featuring Los Angeles Sparks rookie forward Cameron Brink. The deal comes as New Balance looks to grow the company's share across basketball and to become a leader in women's sports. In August, Cameron Brink became the first woman's basketball player to sign with New Balance.
Persons: Cameron Brink, Bridget Carleton, Juan Ocampo, Armour, Jessica Vassall, Brink, Kawhi Leonard, Balance, Jeff Haynes Organizations: Los Angeles Sparks, Minnesota Lynx, Crypto.com Arena, National Basketball Association, Getty, WNBA, Adidas, Nike, Puma, New, Stanford University, NBA, CNBC, Paris Olympics, Chicago Sky Locations: Los Angeles , California, Chicago , IL
Women's soccer is bringing private equity off the sidelines. While other major U.S. sports leagues – Major League Soccer, the National Basketball Association, Major League Baseball and the National Hockey League – have allowed private equity investors to take passive, minority stakes, only the National Women's Soccer League has allowed these firms to take majority control of the economics. Sixth Street was the first to own a team in building out the San Francisco women's team, Bay FC, last year. The second-ever such deal closed a few weeks ago, as Carlyle partnered with men's team, the Seattle Sounders FC, to buy that city's counterpart in the NWSL, the Reign FC. Popov said NWSL attendance, up more than 40% this year, is evidence of the momentum in the sport.
Persons: Jessica Berman, San Francisco women's, Carlyle, Adrian Hanauer, Alex Popov, Popov Organizations: – Major League Soccer, National Basketball Association, Major League Baseball, National Hockey League, National Women's Soccer League, CNBC, Sixth, San, Bay FC, men's, Seattle Sounders FC, FC, Sounders FC, Reign FC, NWSL Board
Domestically, slot machines are prohibited on military bases, though casinos are frequently located nearby. The VA began treating gambling disorders in the late 1960s, about nine years after Congress banned slot machines from domestic bases. The Department of Defense declined CNBC's request for an interview, but said in a statement there hasn't been any systemwide increases in resources to address problem gambling. "DoD researchers are aware of changes in gambling availability due to new mobile and sports gambling options and will consider these variables in future military gambling research," a department spokesperson said in an email. The military is conducting a new survey, with results expected in the fall, the spokesperson addedThe Department of Defense operates slot machines on military bases abroad.
Persons: Dave Yeager, Yeager, servicemembers, Heather Chapman, It's, Dominick DePhilippis, Chapman, hasn't Organizations: Istock, Army, Defense Department, CNBC, Department of Defense, Office, Lewis, McChord, Department of Veterans Affairs, DoD Locations: South Korea, Washington, U.S
Jake Paul is launching a personal care brand geared toward men. The YouTube influencer-turned-boxer announced on Wednesday the launch of "W," a skin-care company targeted toward men. The personal care line will feature products priced at less than $10 and will be available at Walmart . Young men are increasingly turning to social media and influencers for their sources of information. But Paul thinks the Kardashians and other celebrities have overlooked the opportunity for young men.
Persons: Jake Paul, Paul, deodorant, Paul isn't, Dwayne, Johnson, John Legend, Idris Elba, Gen, Boxer Jake Paul, he's, Logan Paul's, Kardashian, He's, Mike Tyson Organizations: YouTube, Walmart, CNBC, Amazon, Business Research Company, Pharrell, Netflix Locations: TikTok
Somasegar and Nadella are among the key owners of Seattle's cricket team, named the Orcas. Microsoft CEO Satya Nadella and Adobe CEO Shantanu Narayen are among the executives investing in the new U.S. professional league, Major League Cricket. Other cricket investors include Iconic Ventures, Madrona Venture Group and executives from Google . As the Men's T20 Cricket World Cup , co-hosted by the U.S. for the first time, ramps up, investors have pumped nearly a billion dollars into their American ambition. Venture capitalist Anurag Jain, part owner of Major League Cricket team the San Francisco Unicorns, said the U.S. national team is primarily made up of players in the league.
Persons: Somasegar, They're, Soma Somasegar, Satya Nadella, Shantanu Narayen, Monank Patel, StubHub, Anurag Jain, Satyan Gajwani, Gajwani, Rangaswami, , Jessica Golden Organizations: Microsoft, CNBC, Madrona, Adobe, Major League Cricket, Iconic Ventures, Madrona Venture Group, Google, U.S, team, ICC, Grand Prairie Cricket, Pakistan, Sunday, The New York Times, Venture, San Francisco Unicorns, U.S ., Times Internet Locations: Bellevue , Washington, America, U.S, Pakistan, Dallas, West Indies, India, Nassau County, New York, of India, North America, South Asia, Australia
The talks between the tour and the Saudi Public Investment Fund, which backs LIV Golf, are "extremely active," the person said. A PGA Tour representative declined to comment. The deal will reportedly be structured similar to their deal with the Strategic Sports Group, a consortium of investors. "By making PGA TOUR members owners of their league, we strengthen the collective investment of our players in the success of the PGA TOUR," Monahan said at the time. After clear lines were drawn, players expressed frustration about the proposed deal, leading the tour to increase financial incentives for golfers.
Persons: LIV, Rory McIlroy, Tiger Woods, John Henry —, McIlroy, PIF, Jay Monahan, Yasir Al, Rumayyan, hasn't, " Monahan, Jimmy Dunne, Dunne, Phil Mickelson, , Monahan Organizations: THE, Sawgrass, CNBC, Saudi Public Investment Fund, Fenway Sports, Saudi, Strategic Sports Group, The New York Times, Tour Enterprises, PGA, Fenway Sports Group Locations: Ponte Vedra Beach , Florida, Saudi, New York
In 2017, fewer than half of the largest U.S. cities offered formalized pickleball courts. "We have found New York City parks to really understand the popularity of pickleball and also the need for more courts," said Cannon. We're excited to meet the increasing demand and bring Pickleball Kingdom's premier indoor pickleball to the masses," said Ace Rodrigues, founder and CEO of Pickleball Kingdom. Pickleball courts are also popping up at gyms throughout the country. Life Time, an "athletic country club," currently boasts almost 700 pickleball courts across its 170 U.S. locations.
Persons: Wang Fan, Will Klein, Klein, pickleball, Erica Desai, Mary Cannon, Pickle, Cannon, Desai, Pickleball, Rodrigues, Andre Agassi, Bahram Akradi, Ben Johns, Collin Johns, Anna Bright, Tyson McGuffin, Mike Stobe Organizations: Central Park, China News Service, Getty, Trust, Public, Pickle, Long, PENN, Garden Locations: Central, New York City, pickleball, Louisville , Kentucky, Madison , Wisconsin, Honolulu, Manhattan , Brooklyn, Long Island City, Kingdom, Pickleball, United States, Pickleball Kingdom, U.S, Annapolis , Maryland, Madison
During Ben Johns' first year as a professional pickleball player, he could barely support himself financially. Now, he's making $2.5 million in pickleball salary alone this year, he tells CNBC Make It — plus more in endorsement deals and sponsorship contracts. Johns, 25, is currently the Professional Pickleball Association Tour's No. 1 ranked player in men's doubles and the top-ranked male player in mixed doubles. In 2021, Johns made $250,000, he told CNBC at the time — which would mean his salary has increased tenfold since then.
Persons: Ben Johns, Johns, He's Organizations: CNBC, Professional Pickleball Locations: pickleball
In this composite image a comparison between Former Boxer Mike Tyson (L) and Jake Paul (R). Mike Tyson's return to the boxing ring to fight Jake Paul this summer is already seeing soaring ticket prices and strong bettor interest. The two previously achieved the first ever sold out women's headline boxing event at Madison Square Garden. Most Valuable Promotions also has a unique offer for the fight — a $2 million VIP package. The odds show Jake Paul as the current favorite (-145), but 70% of the money is being bet on Tyson.
Persons: Boxer Mike Tyson, Jake Paul, Tyson, Paul, Mike Tyson's, influencer, Katie Taylor, Amanda Serrano, Nakisa Bidarian, Bidarian, BetMGM, Jake Paul haters, Alex Rella, We're Organizations: T, Netflix, Madison Locations: Arlington , Texas, BetMGM, U.S
The three companies collectively operate 75 U.S. casinos that permit indoor smoking, where state law allows. States like Nevada and New Jersey have prohibited indoor smoking more broadly, but carved out exceptions for casinos. Legislation to end indoor smoking at casinos is in various stages in several states across the country, including New Jersey, Pennsylvania and Rhode Island. Advocates for smoking bans point to research by C3 Gaming that concluded smoke-free casinos generate more revenue and outperform competitors that allow smoking. In Las Vegas, MGM Resorts opened the first casino resort on the Strip to prohibit indoor smoking and even smoking on the pool deck.
Persons: Boyd, Bally's, it's, Jan Jones Blackhurst, we've, Marc Oppenheimer, we're, it'll Organizations: Boyd Gaming, Bally's Entertainment, Caesars Entertainment, Trinity Health, Nonsmokers, Rights Foundation, Trinity, Caesars, The Securities, Exchange Commission, C3 Gaming, SBC, North, United Auto Workers, Disease Control, U.S, CNBC, Las Vegas, MGM Resorts, MGM Locations: Livonia , Michigan, Bally's, U.S, Nevada, New Jersey, New Jersey , Pennsylvania, Rhode Island, North America, United States, Pennsylvania, Bensalem, Philadelphia, Las
Life Time fitness is all in on pickleball. It is all part of the upscale fitness company's strategy to grow its brand by investing in pickleball. To continue that goal, Life Time on Tuesday announced it is teaming up with Lululemon , naming the company as an official apparel partner of Life Time pickleball and tennis. The relationship includes selling Lululemon apparel online at Life Time clubs, in addition to collaborating on key pickleball events. Life Time CEO and founder Bahram Akradi, an avid pickleball player himself, is betting that the hot, tennis-like sport will be that catalyst.
Persons: Ben Johns, Anna Bright, Andre Agassi, Celeste Burgoyne, Bahram Akradi Organizations: Penn Locations: Madison, New York City, pickleball, Americas
A Dave & Buster's location in the Gateway Center shopping complex in the Brooklyn borough of New York, US, on Saturday, March 30, 2024. Arcade chain Dave and Buster's plan to allow customer betting isn't winning over everyone. Software company Lucra Sports announced on Tuesday that it was working with the entertainment chain to allow customers to place wagers on their arcade games through the Dave & Buster's app. Illinois State Rep. Daniel Didech, a Democrat from Buffalo Grove, filed a bill on Thursday that's designed to prohibit family amusement establishments from facilitating wagering on amusement games. "None of those protections are in place at Dave & Buster's locations.
Persons: Dave, Daniel Didech, Didech Organizations: Gateway Center, . Software, Lucra Sports, Illinois State, Democrat, Illinois, Illinois House Gaming, CNBC, Dave Locations: Brooklyn, New York, Buffalo Grove, Illinois
A general view of the atmosphere during The SDI Takeover @ Dave & Buster's in Los Angeles on June 23, 2022Arcade giant Dave & Buster's is taking its games to a new level by offering social wagering on its app. Customers can soon make a friendly $5 wager on a Hot Shots basketball game, a bet on a Skee-Ball competition or on another arcade game. Dave & Buster's, started in 1982, now has more than 222 venues in North America, offering everything from bowling to laser tag, plus virtual reality. The company says it has five million loyalty members and 30 million unique visitors to its locations each year. "We're thrilled to work with Lucra to bring this exciting new gaming platform to our customers,"said Simon Murray, senior vice president of entertainment and attractions at Dave & Buster's.
Persons: Buster's, We're, Lucra, Simon Murray, Dylan Robbins, Michael Madding, Robbins, Madding, Goldman Sachs, Marc Lasry, John Isner, Julie, Zach Ertz Organizations: SDI, Stanford Graduate School, Business, Raptor, SeventySix, Dupr, @ & ' Locations: Los Angeles, North America
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