Month: August 2024
Penn Entertainment Has ‘Unrecognized Value,’ Says Analyst
Shares of Penn Entertainment (NASDAQ: PENN) are on a wild ride as highlighted by a 26% year-to-date drop and a 20.7% surge over the past 90 days — the latter indicating the potential is there for a durable resurgence. The ESPN Bet logo. An analyst is constructive on operator Penn Entertainment, citing multiple factors. (Image:…
Read MoreMGM Partnering with Grupo Globo for Brazil Sports Betting Permit
MGM Resorts International said today it is partnering with Latin American media conglomerate Grupo Globo to pursue a sports wagering and iGaming license in Brazil. The Brazilian flag flying against a backdrop of the sun. MGM is teaming up with Grupo Globo to pursue a sports betting license in the country. (Image: Pixabay) Should MGM…
Read MoreArkansas Razorbacks NIL Collective Asks State for Online Raffle to Fund Players
Arkansas Edge, the University of Arkansas’ name, image, likeness (NIL) collective, is seeking to operate an online 50/50 raffle that it says could raise millions of dollars to help lure marquee talent to Razorbacks programs. The University of Arkansas’ primary NIL collective wants to operate an online 50/50 raffle to help sponsor players and recruit…
Read MoreDraftKings Surcharge Gambit Was ‘Head Fake,’ Says Analyst
Shares of DraftKings (NASDAQ: DKNG) closed higher by almost 2% Wednesday on volume that was more than double the daily average after the company reversed course on a previously announced plan to tax winning sports bets in four high-tax states. DraftKings stock is highlighted at the Nasdaq market site in New York City. Analysts defended…
Read MoreiGaming Study Suggests States Leaving $15B in Possible Tax Revenue on the Table
A new study on iGaming suggests states could receive an immediate financial windfall by legalizing online slot machines and table games. A billboard advertising DraftKings’ online casino operations in Pennsylvania is seen along a highway near Pittsburgh. A new iGaming study suggests states would be smart to authorize online casino games. (Image: The Wall Street…
Read MoreNebraska Online Sports Betting Bill Advances, Odds Remain Long
Legislation to expand gambling in Nebraska to allow online sports betting advanced out of committee on Monday during the legislature’s special session. Nebraska’s beloved Cornhuskers football program kicks off its 2024-25 season on August 31. Nebraska sports betting remains limited to retail sportsbooks at casinos. (Image: Getty) The Unicameral General Affairs Committee passed LR3CA by…
Read MoreTelehealth Effective in Treating Problem Betting, Says Kindbridge
Telehealth is proving effective in treating compulsive wagering, particularly for bettors who typically wager online, according to Kindbridge Behavioral Health. Kindbridge Behavioral Health noted telehealth is an effective treatment option for those dealing with compulsive betting habits. (Image: Shutterstock) In its new “Gambling Disorder Treatment Outcomes” report, the Tennessee-based provider of mental health services noted…
Read MoreBill to Expedite NYC Casino Licenses on Life Support
Legislation to speed up bidding for three New York City-area casino licenses faces a bleak near-term outlook. The objective of the bill was to open the window for proposals by the end of this month, but that appears unlikely because there’s less than three weeks left in August. An aerial shot of the New York…
Read MoreIndiana Veterans Groups Urge Legislature to Allow Electronic Charitable Gaming
Veterans groups in Indiana have formed a political action committee (PAC) to encourage state lawmakers in Indianapolis to pass legislation authorizing electronic charitable gaming. Indiana veterans groups are asking state lawmakers to allow electronic pull tabs at their nonprofit facilities. Indiana’s charitable gaming law currently only allows paper games as shown in the photo. (Image:…
Read MoreUtah Lottery Would be Legal in Certain Counties Under New Proposal
Utah State Rep. Kera Birkeland (R) plans to reintroduce a proposed constitutional amendment that would ask Utahns whether to legalize a state lottery. But following the failure of last year’s effort – the proposal was pretty much dead on arrival – this one comes with a twist. Birkeland is suggesting legalizing a lottery only in…
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