Live greyhound racing is nearly extinct but betting continues online
Summary: With the closure of the Iowa Greyhound Park, only two greyhound racetracks remain in the entirety of the US, both in West Virginia. Why it matters: The fall has been precipitous. In the 1980s, there were 50 tracks in 19 states, with betting handle of $3.5 billion in 1991.The activity has long drawn the […]
Analysts note worse BetMGM losses in first quarter
Summary: The good news for MGM Resorts International from its first-quarter results was that Las Vegas is booming and that the company’s LeoVegas acquisition got welcoming reviews from the analysts. The not-so-good news was that losses at BetMGM for the three months to March were greater than analysts had predicted. Why it matters: Profitability in […]
Bill Hornbuckle on closing some LeoVegas makrets
MGM CEO shrugs off fears over LeoVegas’ gray market exposureThere are a few and only but a few that are single-digit that we will close down. New Jersey being one of them. I know they had 1% share in New Jersey market last month.”- Bill Hornbuckle, CEO, MGM Resorts International
Butler on MGM results
@ButlerBets: $MGM reports 1Q 2022 net revenues from BetMGM operations were $271 million. MGM, which has a 50/50 JV with Entain for BetMGM, reports an operating loss of $92 million in 1Q 2022, driven by one time promotional spend to enter new markets, according to latest earnings report
Ohio releases sports betting application drafts for public comment
Summary: The Ohio Casino Control Commission released application drafts for the Type A & B proprietors sports betting license, as well as the management services providers license, on Monday. The drafts allow potential applicants to give feedback on the applications in a public comment period that lasts through Friday. Why it matters: Ohio sports betting […]