California Teachers Association backs tribes in sports betting fight
Summary: The California Teachers Association (CTA) announced that its State Council of Education voted to formally oppose the online sports betting initiative backed by DraftKings, FanDuel, betMGM, and other commercial sports betting operators. Why it matters: According to the press release, “Parents, educators and others warn this deceptive measure would expose kids to increased risks […]
Bally’s Chicago casino gets the greenlight
Ballyâs Corporation on LinkedIn: #jumpintothethrill #welcometotheballyverseToday, Chicago’s City Council approved Bally’s to build, own and operate Chicago’s first and only casino. Our world-class entertainment destination resort will offer something for everyone and showcase the Best of Chicago in food, entertainment, and culture. We look forward to partnering with the City of Chicago and the community […]
Kambi acquisition rumors fly after stock jump
Summary: Kambi Group stock rose as much as 24% on Wednesday, amid a continued trend of market slumps for virtually every other gambling tech company. The bucking of the slock slide trend led to speculation that Kambi could be acquired by another company soon. Why it matters: Kambi currently acts as a technology partner to […]
Florida man charged with $25m sports betting fraud scheme
Summary: Federal authorities arrested a former WSOP bracelet winner on charges related to a sports betting scheme that bilked $25 million from victims over a 16-year span. Professional poker player Cory Zeidman was arrested Wednesday and faces a two-count indictment that includes conspiracy to commit wire fraud and mail fraud, and conspiracy to commit money […]
Esports Entertainment warns of lower than forecasted revenue
Summary: Esports Entertainment forecasts that the company’s full-year revenue at $55-$60 million, which is lower than previous predictions. The warning came during the company’s Q3 FY2022 earnings call on Monday. Why it matters: Esports Entertainment Group stock fell 18% on the news of below-forecast earnings. The company pointed to “a failure to monetize” esports assets […]