Are political betting markets a threat to democracy? A group of US lawmakers including Sen. Jeff Merkley (D-OR) and Sen. Elizabeth Warren (D-MA) are calling on the Commodity Futures Trading Commission (CFTC) to ban those betting markets for exactly that reason. Led by Markley, a group of Democratic lawmakers recently sent a letter to CFTC…
American Gaming Association President and CEO Bill Miller is hitting hard against claims that regulated sports betting is responsible for an uptick in ad sales on this year's Olympic Games broadcasts on NBC. Miller said the argument presented in a Washington Post editorial titled, "Sports betting ads are out of control. For solutions, look overseas.",…
DraftKings CEO Jason Robins is fighting back against high tax rates on sports betting operators with the announcement of a new surcharge on winning wagers starting January 1, 2025. The new surcharge will only apply in states where the current tax rate is 20 percent or higher. Robins framed the new surcharge as a necessity…
Caesars Entertainment is selling the World Series of Poker (WSOP) to NSUS Inc., the operator of GGPoker, in a deal worth $500 million. While Caesars is selling off its WSOP assets, it's not giving up on poker's biggest event entirely and will continue hosting tournaments for the foreseeable future. GGPoker and Caesars have a long-standing…
A group of US lawmakers, led by Rep. Dina Titus (R) Nevada, is looking to put an end to a federal betting excise tax on sports betting handle. It's a bipartisan effort to relieve operators of a .25 percent tax that all US-facing operators pay, but it might not have enough traction to pass through…
After three years of ups and downs, DraftKings is officially out of the NFT business. The sports betting operator shuttered it Reignmakers and its NFT Marketplace this week after a judge in a Massachusetts District Court judge allowed a lawsuit alleging that the compamy's NFT Marketplace was peddling unregistered securities to move forward. Plaintiff Justin…
Cambodian Prime Minister Hun Manet is banning the building of new casinos in the provinces of Kep and Kampot. It's a bold move for the government, which acknowledges the financial contribution casino tax revenue contributes to the country's economy, but is also looking to diversify Cambodia's tax base. Across Cambodia, there are currently 184 licensed…
Playgon Interactive and its affiliate Bitrate Productions have shut down all their live dealer operations after receiving a cease-and-desist order from the Nevada Gaming Control Board (NGCB). According to the NGCB, Playgon has been offering real money play to players when it should really have only been acting as a social casino. It's a major…
Standard General is acquiring the Bally's Corporation in a deal worth $4.6 billion. The acquisition, which was completed this week, will see Bally's merging with The Queens Casino & Entertainment Inc. It's a blockbuster deal that turns Standard General into a major player in the US gaming market. This merger/acquisition has been in the works…
From a historical perspective, there's really no sport that's more closely aligned to the gaming industry than horse racing. That unique relationship is front and center in a recently released code of conduct from the British Horse Racing Authority (BHA) and The Racecourse Association (RCA) that's aimed at governing sponsorship agreements between racing stakeholders and…
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