PENN Entertainment is taking heavy criticism from one its biggest investors for "under performance" and alleged mismanagement. The barbs are coming from HG Vora, a hedge fund which oversees more than $7 billion worth of assets including a large portion of PENN. It's a tricky situation for PENN that could significantly alter the company's future…
After years of trying to get Missouri lawmakers to pass a bill legalizing sports betting, a coalition of the states professional sports teams is throwing its collective weight behind a different approach. The Kansas City Chiefs; Kansas City Current; Kansas City Royals; St. Louis Cardinals; St. Louis Blues; and St. Louis SC are all backing…
When NCAA President Charlie Baker took the stage at the NCAA Convention in Phoenix earlier this week he also addressed the 300-pound gorilla in the room, sports betting. Baker's State of College Sports address covered some very tough issues such as how to punish players who violate gambling rules and what to do about player…
Last week Sen. Richard Blumenthal and U.S. Rep. Andrea Salinas. introduced a proposal aimed at fighting problem gambling that's funded by existing taxes on sports betting. Under the terms of the Gambling Addiction Recovery, Investment, and Treatment Act (GRIT) about half of the money currently collected under .25 percent federal excise tax would be funneled…
A group of US lawmakers are making history by authoring the first federal bill aimed at tackling problem gambling as a wave of US States embrace regulated sports betting. If passed into law, the Gambling Addiction Recovery, Investment, and Treatment Act (GRIT) would utilize revenue from an already existing .25 percent federal tax on operator's…
UK gaming reform, such as accepting electronic payments at casinos cannot happen soon enough according to Ranking Group Director of Public Affairs David Williams. Williams, addressing the UK gambling operators in a recent blog on the Betting and Gaming Council (BGC) website recently. In his blog, Casino Reforms are Needed More Than Ever, Williams praises…
Californians are taking another stab at bringing regulated sports betting to the Golden State with two competing initiatives they’re hoping make the general ballot in November. Earlier this week the state’s Attorney General approved two proposals that will now move to the signature-gathering stage of the lawmaking process. If passed, the measures would allow federally…
Late last week Brazilian lawmakers approved an online gambling and sports betting bill that is now bound for President Lula da Silva's office. Once President da Silva signs off on the bill, an entirely new and extremely large new gambling market will open for operators and affiliates alike. Bill PL3626/23 has spent the last month…
One of the big draws of legalizing regulated sports betting, for states, is that it raises a large amount of tax revenue that those states can use for things like public works and social programs. That's why it's always seemed so odd that the state of Delaware legalized sports betting back in 2022, but only…
DraftKings is pulling its Pick6 daily fantasy sports (DFS) product from the Maryland market after officials at the Maryland Lottery and Gaming reversed their opinion on the game's legality. DFS pick 'ems are an increasingly popular, and extremely controversial, new game that critics say pushes the boundary between traditional sports betting and DFS. In Maryland,…
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