Hard Rock launches Virginia online sportsbook
Summary: Hard Rock Digital announced the launch of Hard Rock Sportsbook in Virginia, which went live in the state on Monday. The company also announced plans to open a retail Hard Rock Sportsbook at Bristol Casino in July. Why it matters: The Virginia launch puts Hard Rock’s online sportsbook in four states. The platform is […]
Brandt Iden on the first four years of post-PASPA
On legal sports betting four years after the fall of PASPA”Each state has been very different, but in the end, things are coming to fruition nicely. We’re bringing things out of that gray/black market and we’re putting it into this regulated sphere. We’re now taxing it, we’re bringing in revenue, we’re protecting players, and that’s […]
Krafcik on FanDuel New Jersey OSB performance in April 2022
@CKrafcik: Some evidence in NJ April ’22 print of FanDuel making good on its recently articulated promise (see its 1Q22 trading update ‘script) of continued, aggressive UA spending. We est. FanDuel captured ~59% OSB GGR share—an all-time best for the brand in NJ, according to our tracking.
Gary Deutsch can no longer support the “irrational investment” in NY and its 51% tax rate.
Gary Deutsch can no longer support the “irrational investment” in NY and its 51% tax rate.“As rational allocators of capital with sophisticated investors in Entain and MGM, we simply can’t apply our capital against an irrational investment thesis. Players would never continue to play if the house always won. The house cannot continue to play […]
BetMGM to pull back on NY investment
Summary: BetMGM CEO Adam Greenblatt commented recently that the group will reduce its investments in NY sports betting because of the state’s “unsustainable” tax environment. Why it matters: Greenblatt made the comments during the investor day the group held last week. He added that it had made a “concerted decision” to divert spend away from […]