Minnesota Lawmaker Draws Industry Ire
In Minnesota, a state in which lawmakers have considered legalizing sports betting since the Professional and Amateur Sports Protection Act (PASPA) was overturned in 2018, Sen. John Marty Jan. 8 held a hearing on the issue. But he didn’t invite industry reps.
The decision to keep the industry out of the hearing before the state Senate Finance Committee was by design, reports iGB. In his comments before testimony began, Marty acknowledged that the state has been struggling with whether or not to legalize.
But he also said that no previous hearing had “focused on harm.” While “harm” may not have been a focus in previous hearings, problem and responsible gambling advocates testified many times in the state.
Marty also suggested that sports betting “is currently legal in Minnesota.” He said betting with friends or strangers is legal. But “sports bookmaking where a corporate entity can come in and profit off of your betting” is not legal. He went on to qualify gambling addiction “as powerful as any opioid or any other addiction.”
Testimony from recovering addicts was poignant. And the figures provided by academics and problem and responsible gambling advocates were compelling. But not one gambling operator was invited to testify. And, according to sources, they were told they were not welcome.
The IDevelopment and Economic Association (iDEA) confirmed that their request to offer comment was rebuffed, according to spokesman John Pappas. He said Marty’s office told the online gambling industry trade association, “we’re interested in hearing about the harms, not the benefits.”
“Apparently Sen. Marty does not want to have a serious conversation about gaming and the media circus he had today did a disservice to every constituent in the state of Minnesota,” gaming consultant Brendan Bussmann, principal at B Global, told iGB. ” If the senator believes everything in the constructed hearing he held today, I hope that he brings a bill that does away with the lottery and charitable gaming. Because if he believes everything he heard today, that should be his only response. And that is going to take millions of dollars away from education and local communities in the state.”
Flutter Issues Profit Warning
Flutter Entertainment warned it is likely to fall approximately $370 million short of U.S. revenue expectations for FanDuel following a period of “very unfavorable” sports results during November and December.
In a trading update published Jan. 8, Flutter said strong player-friendly results offset U.S. player momentum, according to iGB. When it released third-quarter results in November, the company said growth across all regions was “excellent.”
Since that report and into December, FanDuel has endured “unfavorable U.S. sports results” primarily affecting NFL parlay and same-game parlay outcomes.
The operator went as far as calling the 2024-25 NFL season “the most customer friendly since the launch of online sports betting with the highest rate of favorites winning in nearly 20 years.”
The results, the update said, generated an estimated adverse gross gaming revenue of $438 million.
Revenue took a $390 million hit and adjusted EBITDA $260 million. This covers the period between Nov. 12-Dec. 31.
Missouri Sports Betting Regulator Ahead of Schedule?
Legal Missouri sports betting could be available sooner than mandated. The new law, passed by voters last November, requires the state gaming commission to launch operators by Dec. 1, 2025. But Missouri Gaming Commission (MGC) Chairman Jan Zimmerman Jan. 2 told Sports Betting Dime, “Depending on how quickly the process goes with getting the rules to the governor’s office, getting them signed, getting everything to the attorney general’s office, we could be looking at earlier in the summer than we anticipated.”
The emergency rules process is moving more quickly than expected, said Zimmerman. She is hopeful that the emergency regulations will reach the governor and attorney general for approval by the end of January. Should that happen, the MGC could open the licensing process in late February or March.
The new Missouri law allows for statewide retail and digital betting. Existing casinos and professional sports teams/venues can each have one brick-and-mortar sportsbook. For digital licences, the MGC last year interpreted the rules to say that each retail casino and pro sports venue can have one online partner. The interpretation of the law is different than expected, as it initially appeared that each casino company would get a skin, but not each location.
The MGC’s first meeting of 2025 is set for Jan. 15.
Penn to Rebrand 10 Retail Sportsbooks to ESPN Bet
Penn Entertainment Jan. 9 announced that it will rebrand 10 of its brick-and-mortar sportsbooks in early 2025. Penn is partnered with ESPN to offer digital and retail sports betting under the ESPN Bet brand. ESPN Bet is available online in 19 states.
Penn has plans to rebrand the following locations:
Colorado: Ameristar Casino and Resort Spa Black Hawk
Indiana: Hollywood Casino and Hotel Lawrenceburg and Ameristar Casino East Chicago
Iowa: Ameristar Casino Hotel Council Bluffs
Ohio: Hollywood Gaming at Dayton Raceway and Hollywood Gaming at Mahoning Valley Race Course
Pennsylvania: Hollywood Casino at Penn National Race Course, Hollywood Casino at The Meadows and Hollywood Casino York
West Virginia: Hollywood Casino at Charles Town Races
That’s a Lotta Dough
Circa Sports announced Jan. 6 that it will pay out a record $14.2 million to its eight Circa Survivor winners and a record $20.3 million across all of its season-long football contests. In the Survivor contest, eight participants went 20-0 for the 2024-25 season, and each winner will bank $1.73 million. Entering Week 18, there were 18 entries still in play, but 10 lost by picking Atlanta and Green Bay. This is the first time in Circa Survivor history where multiple entries have lost in the final week of the season.
In the Circa Million VI contest, Team BP won $1 million. The entrant was in second place entering Week 18, but went 2-2-1 to finish the season with 62 points, winning the contest by 0.5 points.
In Other News …
FanDuel Jan. 6 announced that it is now the sports betting partner for TGL presented by SoFi, the new, prime time team golf league backed by Tiger Woods and Rory McIlroy’s TMRW Sports. FanDuel will sponsor TGL’s intermission segment between its Triples and Singles sessions.
