Wire NORTH AMERICA
Canada to Legalise Single-Event Betting
Te Canadian government has voted on Bill C-218 to legalise single-event sports betting, ending a decades-long prohibition on the practice.
Te Bill now moves to the Justice Committee, the Senate, and then to the Governor-General for Royal Assent. Final approval could occur as soon as May 2021.
CANADA SPORTS BETTING
NEVADA – Nevada’s casinos have seen attendance limitations move from 25 per cent to 35 per cent of capacity with Governor Steve Sisolak saying that could rise to 50 per cent by mid-March. He said he was handing any future capacity changes over to state gaming regulators.
Governor Sisolak said: “The Gaming Control Board will make that call. The Board and the Gaming Commission ultimately have authority over any licensed properties. It’s important everyone that has a face-to-face interaction with one of our tourists gets a vaccine. It protects our workers and residents and I want everyone coming here to know this is the safest place for a vacation. The goal of this plan is to avoid a scenario where I have to come before all of you again and pause our efforts. I believe this plan can work, but we must all invest in making it successful.”
MGM Resorts International’s CEO Bill Hornbuckle commented: “I’m hoping by end of spring, as we go into June, we’ll see yet another significant rollback.”
WASHINTON – Maverick Gaming has announced it is in the process of moving their corporate headquarters to Kirkland, Washington, as a reflection of the company’s ongoing and long-term investment in Washington State.
Previously located in Nevada, Maverick Gaming’s new headquarters will be located at 12530 NE 144th St. and will support at least 50 jobs.
NEVADA –The former Fontainebleau, the unfinished, towering casino project on the south side of Las Vegas Boulevard, has been bought back by a partnership including its former owner.
Florida developer Jeffrey Soffer, part of the group involved in the building of the 75 per cent finished, 60-plus-story resort, has teamed up with Koch Real Estate Investments to buy what became the Drew Las Vegas. The project which began in the mid 2000s was declared bankrupt in 2009 after the recession. Developer Steve Witkoff bought the project but shelved after the disruption caused by the global pandemic.
ARUBA – Hyatt Regency Aruba Resort Spa and Casino recently completed a multi-million-dollar renovation that included an enhancement to the casino. The resort’s casino has added 44 new machines including roulette slot machines, Quick Hit Super Wheel and 88 Fortunes Diamond from Scientific Games, Treasure Ball from Konami and Mighty Cash from Aristocrat. The casino now has a total of 13 gaming tables, 148 slots and 13 video poker machines that have also been redesigned to comply with new safety protocols.
P18 WIRE / PULSE / INSIGHT / REPORTS
Bill C-218 decriminalises new forms of sports gambling in Canada. While Canadians across the country are currently permitted to place bets on a series of sports events, a form of parlay betting, they are prohibited from placing a bet on an event in, or on an outcome of, a single game or match. Tese new forms of betting are referred to by many as single-event sports betting or single sports betting.
Advocates of the legislative update advise that allowing betting on single events, such as a hockey or baseball game, will go a long way to curbing black market activities, which currently sees an estimated $14 billion in bets from Canadians on an annual basis. Te Bill will now move to the Justice Committee and then be read one more time with potential amendments, before being sent to the Senate, and then to the Governor-General for Royal Assent. Final approval could occur as soon as May 2021.
Paul Godfrey, Bragg Gaming Board Member, said: “We’re very pleased with the successful outcome of the vote. Te overwhelming backing for the Bill is a strong indication of Canadians’ overall support of the move to legalise single- event betting, and a very positive step for both
New Jersey sportsbooks set January revenue record
New Jersey
New Jersey sportsbooks took in more than $950m in wagers and a record $82.6m in revenue in January while the state's online casinos crossed $100m in revenue, becoming the first legal gaming jurisdiction in US history to cross that threshold in a single month.
Te Garden State’s opening salvo to 2021 sets the stage for a year in which the state could reach $10bn in sports wagers and more than $1bn in online casino revenue, according to analysts from PlayNJ.
“New Jersey's online casinos and sportsbooks have defied conventional wisdom from the beginning, and are hitting milestones that many thought would take years longer to
the legal gambling market in Canada and the overall economy. Not only will this Bill ensure that profits from sports wagering go back into Canadian communities, rather than illegal black-market channels, but it will also secure Canadian jobs and create a safer, more regulated environment for Canadians.”
“We are pleased to see the overwhelming support of legalising single event sports betting in Canada in the Canadian House of Commons this week as it represents a major milestone for the entire industry,” said Scott Burton, CEO of FansUnite Entertainment.
“With interest in legal sports betting growing in both Canada and the U.S., seeing a vote of 303- 15 in a first vote in the House of Commons demonstrates the desire from several political parties to amend an outdated Canadian law."
By providing a regulated and thorough framework for single sports betting in Canada, provincial jurisdictions will be in a better position to enable betting from consumers while generating new forms of tax revenue from outside operators looking to expand into the Canadian gambling ecosystem.
reach,” said Dustin Gouker at
PlayNJ.com. “Te rapid maturation of the online products in New Jersey has made the state the new standard bearer for the modern US gaming industry.”
New Jersey's sportsbooks fell short of breaking the all- jurisdiction handle record for the sixth consecutive month by collecting $958.7m in wagers in January, up 77.5 per cent from $540.1m in January 2020.
Operator revenue rose to $82.6m in January, up 29 per cent from $53.6m in January 2020 and topping December's record-breaking $66.4m. And with $10.4m in state taxes in January, sportsbooks have now generated $107.3m for the state since launching in June 2018. For 2021, the state could reach nearly $10bn in sports bets, more than $600m in revenue, and $75m in state and local taxes, according to PlayNJ projections.
Tennessee
WynnBET has been conditionally approved for sports gaming in Tennessee. Te Sports Wagering Committee of the Tennessee Education Lottery Corporation's Board of Directors approved WynnBET to operate its betting app throughout the state, pending fulfillment of statutory and regulatory requirements to go- live.
Tennessee marks the ninth state that WynnBET has gained market access to as the Company fast-tracks its growth plan to meet the demands of the quickly moving online and mobile sports betting industry.
With its acquisition of BetBull in 2020, WynnBET is built on a foundation of highly social sports-betting technology and one-of-a-kind experiences so that wagering and winning can be a celebrated and shared experience.
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