Fantasy Sports and esports
OPERATOR NEWS
Te Louisiana State Legislature adjourned before passing a proposed tax on fantasy sports. Louisianans in 47 of the state's 64 parishes voted on November 6, 2018 to allow residents to take part in fantasy sports. Te Louisiana House of Representatives passed a bill to tax online fantasy sports leagues at 15 percent. Te Senate then passed the legislation with amendments, but those were rejected by the House. Legislators were unable to reach agreement of the two versions before the legislative session ended. Lawmakers failed to pass sports betting legislation in the 2019 regular session. Without a regulatory framework, daily fantasy sports wagering, although legalized, cannot move forward for now.
Online fantasy-contest operators must be licensed by the gaming board and pay a 15 percent tax on the adjusted revenues from Pennsylvania players. In the first full year of fantasy sports betting in the state, between May 2018 and April 2019, operators generated $22.54m in revenue.
Te Pennsylvania Gaming Control Board (PGCB) has reported a 35 per cent increase in its fantasy sports revenues during last month compared to the same period last year. Te Pennsylvania Gaming Control Board has reported that revenue for May 2019 stood at $1.8m, up from $1.3 million in May 2018, the first month in which fantasy betting was allowed in the state.
Eight sites currently offer fantasy sports betting in the state. Yahoo Fantasy Sports had the sharpest increase in revenue while Fantasy Draft saw the largest decrease; FanDuel headed the list of Daily Fantasy Sports operators in the state with revenues of $960,155 while DraftKings came in second with $813,346. Te two operators accounted for 53 per cent and 45 per cent of the state’s overall revenues from the period.
According to state law, online fantasy-contest operators must be licensed by the gaming board and pay a 15 percent tax on the adjusted revenues from Pennsylvania players. In the first full year of fantasy sports betting in the state, between May 2018 and April 2019, operators generated $22.54m in revenue and $3.4 million in state tax revenue.
Roy Student, the US-based event ambassador for Clarion Gaming, has described the importance of the forthcoming Casino eSports Conference (September 4-5, Luxor Hotel & Casino, Las Vegas) and the crucial role eSports will have to play in casinos. Mr. Student said: “CEC Vegas will arm senior executives with the information and intelligence they most definitely need in order to fully understand the eSports phenomenon and integrate it as a positive amenity and attraction. Tis is an exciting and emergent industry and CEC Vegas will enable delegates to hear from and network with colleagues who are already in the space, benefit from their insight and identify the stumbling blocks that should be avoided. Attending an event like this enables the serious players to sidestep the pitfalls and accelerate their profits – it’s as simple as that and it’s why CEC Vegas is being heralded as one of the key C-Level events on the gaming industry calendar,” he added.
Mr. Student concluded: “eSports is an increasingly important vertical within the gaming space and it is therefore totally appropriate that Clarion, the world’s most successful organizer of gaming events, should join forces with the CEC team, the most influential voice in the sector to address the commercial opportunities at an event that’s taking place in Las Vegas – the home of gaming. Te level of interest is building and building in what is the intelligence hub for eSports in Gaming.”
Te Casino eSports Conference is a two-day hands-on event connecting the casino world directly to the eSports players, marketers, developers, products, services, event providers, lawyers and educators. Tis event provides the most direct and informative connections to facilitate the infrastructure for all gaming establishments looking to incorporate the esport gaming world.
Te Stars Group Inc has entered into an agreement with the Akwesasne Mohawk Casino Resort for betting and gaming market access and certain retail sports betting operations in the State of New York. Te agreement grants Te Stars Group an option to operate and brand real-money online sports betting, poker and casino in New York on a first skin basis, subject to license availability, state law and regulatory approvals. Te agreement also provides that Te Stars Group will provide support services for the launch and operation of a retail sportsbook at the Akwesasne Mohawk Casino Resort in Northern New York.
"We are excited to announce this agreement with Mohawk, which further strengthens our market access as we work to build our FOX Bet business into one of the leaders in the emerging U.S. online betting and gaming market," said Robin Chhabra, CEO of FOX Bet, the new U.S. sports betting brand of Te Stars Group. Under the terms of the agreement, Mohawk will receive a revenue share from the operation of the applicable online offerings by Te Stars Group and Te Stars Group will receive a revenue share from the operation of the retail sportsbook from Mohawk.
SBTech, has gone live with Oaklawn Racetrack and Casino, powering the property’s retail sportsbook. Te newly refurbished Oaklawn Racetrack and Casino is the first operator in the state of Arkansas to launch sports betting via its in-house venue powered by SBTech. Retail players can access 10 kiosks to bet on a comprehensive selection of sports. Oaklawn will introduce a SBTech powered mobile betting app later this year.
Richard Carter, CEO, SBTech, said: “We are rapidly becoming the supplier of choice for omni-channel sportsbook platform software in regulated and newly regulating US states, as well as major global regulated markets for tier one operators and lotteries. We’re delighted that Oaklawn selected SBTech to power their sportsbook in partnership with Churchill Downs and launch the state’s first sports wager, and we look forward to extending that to other products and channels in the near future.”
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