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☆ Gambling Revenues Hit Record $60 Billion Last Year
▼ + stars: | 2023-02-15 | by ( Katherine Sayre | ) www.wsj.com time to read: 1 min

Gambling in the U.S. reached a record high last year as commercial casinos and online betting apps reaped more than $60 billion in gambling revenues, an industry trade group said Wednesday. Commercial gambling revenue last year broke the previous record of $53 billion set in 2021, increasing about 14% year-over-year, according to an American Gaming Association report. The figures don’t include tens of billions of dollars in revenue generated by tribal-owned casinos.

☆ Americans Betting More Pushed Gambling Revenues to Record $60 Billion Last Year
▼ + stars: | 2023-02-15 | by ( Katherine Sayre | ) www.wsj.com time to read: 1 min

Gambling in the U.S. reached a record high last year as commercial casinos and online betting apps reaped more than $60 billion in gambling revenues, an industry trade group said Wednesday. Commercial-gambling revenue last year broke the previous record of $53 billion set in 2021, increasing about 14% year-over-year, according to an American Gaming Association report. The figures don’t include tens of billions of dollars in revenue generated by tribal-owned casinos.

☆ Super Bowl Betting Garners Lackluster Winnings for Sportsbooks
▼ + stars: | 2023-02-13 | by ( Katherine Sayre | ) www.wsj.com time to read: 1 min

Sunday’s Super Bowl marked a record-setting day for sports-wagering activity in the U.S., but the outcome of the dramatic game produced lackluster results for sports-betting companies in terms of profits, according to analysts and sportsbook executives. Sports bettors’ money favored the Philadelphia Eagles winning the game, making the Kansas City Chiefs’ victory a win for the sportsbooks. But the high final score of 38-35 handed a win to bettors who favored the over on total points scored. Big performances by stars like the Chiefs’ MVP quarterback Patrick Mahomes also translated to some winning payouts for prop bets on individual players’ stats.

☆ 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.

☆ More Than 50 Million Americans Are Projected to Bet on the Super Bowl
▼ + stars: | 2023-02-07 | by ( Katherine Sayre | ) www.wsj.com time to read: 1 min

☆ Alec Baldwin Is Charged With Involuntary Manslaughter in ‘Rust’ Fatal Shooting
▼ + stars: | 2023-02-01 | by ( Katherine Sayre | ) www.wsj.com time to read: 1 min

Prosecutors filed involuntary manslaughter charges Tuesday against Alec Baldwin in the fatal shooting of a cinematographer on the set of the movie “Rust” in New Mexico, according to court records. Santa Fe-area District Attorney Mary Carmack-Altwies also filed involuntary manslaughter charges against the film’s armorer who handled guns on the set, Hannah Gutierrez-Reed.

☆ Alec Baldwin Set to Be Charged Tuesday With Involuntary Manslaughter in ‘Rust’ Shooting
▼ + stars: | 2023-01-31 | by ( Katherine Sayre | ) www.wsj.com time to read: 1 min

Alec Baldwin has insisted he didn’t pull the trigger of the revolver when the gun discharged on the set of ’Rust.’Prosecutors plan to file involuntary manslaughter charges Tuesday against Alec Baldwin in the fatal shooting of a cinematographer on the set of the movie “Rust” in New Mexico, according to the Santa Fe-area district attorney’s office. District Attorney Mary Carmack-Altwies said earlier in January that she would file the charges before the end of the month.

☆ A Casino at Saks, Times Square or the U.N.? Companies Pitch NYC Officials
▼ + stars: | 2023-01-25 | by ( Jimmy Vielkind | Katherine Sayre | ) www.wsj.com time to read: 1 min

Gambling companies competing to build a casino in Manhattan, one of the industry’s most coveted untapped markets, face skepticism from officials who would need to approve projects in the heart of the city. Real-estate and casino developers are pitching several sites in midtown Manhattan, including on the top floors of the Saks Fifth Avenue across from Rockefeller Center and in the very heart of Times Square. It’s vital to be near the city center to draw the right mix of tourists and wealthy clients, they said.

☆ Who Is the Prosecutor Planning to Charge Alec Baldwin for the ‘Rust’ Shooting?
▼ + stars: | 2023-01-21 | by ( Elizabeth Findell | Katherine Sayre | ) www.wsj.com time to read: 1 min

Before taking office two years ago, Santa Fe District Attorney Mary Carmack-Altwies vowed to target the community’s worst criminal offenders, increase crime diversion programs, build trust with immigrant families, address a rape-kit backlog and crack down on gun crime. She will likely become best known as the woman who prosecuted Alec Baldwin.

☆ Alec Baldwin ‘Rust’ Manslaughter Charges Put Spotlight on First-Term Prosecutor
▼ + stars: | 2023-01-20 | by ( Elizabeth Findell | Katherine Sayre | ) www.wsj.com time to read: 1 min

☆ Alec Baldwin to Be Charged With Involuntary Manslaughter in Fatal ‘Rust’ Shooting
▼ + stars: | 2023-01-19 | by ( Katherine Sayre | ) www.wsj.com time to read: 1 min

Prosecutors plan to charge Alec Baldwin with involuntary manslaughter in the fatal shooting of a cinematographer on the set of the movie “Rust” in New Mexico in 2021, the district attorney in Santa Fe said Thursday. The film’s armorer overseeing weapons, Hannah Gutierrez-Reed, will also be charged with involuntary manslaughter in the incident, according to a statement from Santa Fe-area District Attorney Mary Carmack-Altwies. The charges are expected to be filed by the end of the month.

☆ Alec Baldwin Expected to Be Charged With Involuntary Manslaughter in ‘Rust’ Shooting
▼ + stars: | 2023-01-19 | by ( Katherine Sayre | ) www.wsj.com time to read: 1 min

Prosecutors plan to charge Alec Baldwin with involuntary manslaughter in the fatal shooting of a cinematographer on the set of the movie “Rust” in New Mexico in 2021, according to a person with knowledge of the investigation. The film’s armorer overseeing weapons, Hannah Gutierrez Reed, is also expected to be charged with involuntary manslaughter in the incident, according to the person.

☆ Decision on Charges in ‘Rust’ Movie-Set Shooting to Be Announced Thursday
▼ + stars: | 2023-01-19 | by ( Katherine Sayre | ) www.wsj.com time to read: 1 min

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☆ Casinos Fight Back as Games Resembling Slots Rise
▼ + stars: | 2022-12-27 | by ( Katherine Sayre | ) www.wsj.com time to read: 1 min

Developers of the machines say the games require players to use skill to win money. The U.S. casino industry has mounted a campaign over what it says should be considered gambling. In some states, videogame machines that look like Las Vegas-style slots have moved into bars, convenience stores and social clubs. The game developers say that unlike gambling that occurs on slot machines, these games require players to use skill to win money.

☆ Gambling Operators Push Sports Betting at Colleges—but Not to Students, They Say
▼ + stars: | 2022-11-30 | by ( Katherine Sayre | ) www.wsj.com time to read: 1 min

With the rise of sports betting, one playing field has become a dividing line in the U.S. gambling industry: college campuses. Caesars Entertainment Inc. has signed marketing deals with the Louisiana State University and Michigan State University athletics programs, giving the Las Vegas-based sports-betting operator access to advertise in college stadiums and other sports facilities and in digital and broadcast sports content, among other rights, according to the company. Financial terms of the deals haven’t been disclosed.

☆ Sports Betting Companies Advertise on College Campuses—but Not to Students, They Say
▼ + stars: | 2022-11-30 | by ( Katherine Sayre | ) www.wsj.com time to read: 1 min

☆ American Casino Giants Win 10-Year Macau License Renewals
▼ + stars: | 2022-11-26 | by ( Elaine Yu | Katherine Sayre | ) www.wsj.com time to read: 1 min

HONG KONG—Six casino operators in Macau won provisional licenses to continue operating in the Chinese gambling hub for the next 10 years, the local government said, while rejecting a bid from an outsider to enter the market. The winning companies include affiliates of three American casino giants, Las Vegas Sands Corp., MGM Resorts International and Wynn Resorts Ltd. The licenses of three local rivals were also renewed. They are held by Galaxy Entertainment Group , SJM Holdings Ltd. and Melco Resorts & Entertainment Ltd.

☆ Six Macau Casino Operators Win New 10-Year Licenses
▼ + stars: | 2022-11-26 | by ( Elaine Yu | Katherine Sayre | ) www.wsj.com time to read: 1 min

Six casino operators in Macau won provisional licenses to continue operating in the Chinese gambling hub for the next 10 years, the local government said, while rejecting a bid from an outsider to enter the market. The winning companies include affiliates of three American casino giants, Las Vegas Sands Corp., MGM Resorts International and Wynn Resorts Ltd. The licenses of three local rivals were also renewed. They are held by Galaxy Entertainment Group , SJM Holdings Ltd. and Melco Resorts & Entertainment Ltd.

☆ Online Sports-Betting Apps Face Customer Complaints Over Delays Withdrawing Funds
▼ + stars: | 2022-11-12 | by ( Katherine Sayre | ) www.wsj.com time to read: 1 min

Sports-betting activity has expanded widely across the U.S. in recent years after a 2018 Supreme Court ruling. Customers have filed thousands of complaints against the biggest U.S. online sports-betting operators in recent years, many of which reported delays or glitches in withdrawing money, according to a review of Better Business Bureau records. About 2,400 complaints naming the big-three operators have been lodged in the U.S. in the past three years, according to the bureau. A large number of the complaints focus on dayslong or even weekslong wait times for taking out winnings.

☆ DraftKings Reports Higher Revenue for Start of Football Season
▼ + stars: | 2022-11-04 | by ( Katherine Sayre | ) www.wsj.com time to read: 1 min

Online sports-betting company DraftKings Inc. posted higher-than-expected revenue for the start of this year’s football season and said its customer base continued to grow amid competition for gamblers. The company reported revenue of $502 million for the three-month period ended Sept. 30, more than double its revenue in the same period last year. Strong customer acquisition and retention, expansion into new states, such as Kansas, and reduced customer promotions fueled the growth, the company said. Sports-betting operators have also won more from customers’ bets this National Football League season because the outcomes of games have favored the sportsbooks.

☆ Fox Is Cleared to Buy FanDuel Stake for About $3.7 Billion
▼ + stars: | 2022-11-04 | by ( Katherine Sayre | ) www.wsj.com time to read: 1 min

FanDuel is the market-share leader in online sports betting in the U.S.An arbitrator has ruled that Fox Corp. has the option to buy a stake in sports-betting operator FanDuel Group from parent company Flutter PLC for about $3.7 billion, the companies said Friday, settling a more than yearlong dispute over one of the biggest brands in U.S. online gambling. Fox filed a lawsuit with Judicial Arbitration and Mediation Services in April 2021 against Flutter arguing that the gambling giant was demanding too high a price for an option to buy an 18.6% stake in FanDuel.

☆ DraftKings, Others Pull Back on Ads to Legalize California Online Sports Betting
▼ + stars: | 2022-10-10 | by ( Katherine Sayre | Christine Mai-Duc | ) www.wsj.com time to read: 1 min

A coalition of gambling companies led by DraftKings and FanDuel Group is pulling back on advertising for a ballot measure to legalize online sports betting in California as polls show it is likely to lose. The online sports-betting industry’s initiative, known as Proposition 27, has drawn about $402 million in fundraising, according to campaign finance records, the most in state history. But the pro-Prop 27 campaign, which has raised $169.2 million, recently canceled about $11 million in broadcast TV and cable ads they had planned to run through Election Day, according to ad-buying data through Oct. 6 reviewed by The Wall Street Journal.

☆ Gambler Claims Online Casino BetMGM Glitches Robbed His Winnings, Fueled Addiction
▼ + stars: | 2022-09-29 | by ( Katherine Sayre | ) www.wsj.com time to read: 1 min

A New York man who said he has a gambling addiction has accused online casino operator BetMGM of plying him with free bets to keep him from reporting game glitches to regulators, according to a lawsuit filed Wednesday. Sam A. Antar alleged that BetMGM’s online blackjack and other games repeatedly disconnected from BetMGM’s servers, often while he had favorable hands, which wiped out potential winnings, according to the lawsuit. His winnings at times weren’t available to him until he deposited more money into his account, further fueling his compulsive gambling that included more than $29 million in bets in nine months, the lawsuit said.

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☆ Las Vegas Shooter Who Targeted 2017 Festival Was Angry at Casinos, FBI Documents Show
▼ + stars: | 2017-10-01 | by ( Zusha Elinson | Katherine Sayre | ) www.wsj.com time to read: 1 min

New details about the 64-year-old gambler who killed 58 Las Vegas concertgoers and wounded hundreds more on Oct. 1, 2017, were revealed in a trove of documents released by the Federal Bureau of Investigation last week. The documents don’t answer the enduring mystery of Stephen Paddock ’s motive for carrying out the deadliest mass shooting in modern American history. Paddock killed himself before he could be apprehended. The documents include the most detailed accounting of the gunman’s gambling habits and shed new light on what was going on in his mind prior to the attack.

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