Sports Betting News Archives - Page 2 of 67

ITIA bans French tennis player for life over match fixing

The International Tennis Integrity Agency (ITIA) has handed a life ban to French tennis player Alexis Musialek after he was found guilty of match fixing offences.

Musialek, who reached a career-high ATP singles ranking of 255 in 2015, had initially denied all charges. However, an investigation uncovered his involvement in fixing nine tennis matches between 2016 and 2018.

Among the offences were contriving the outcome of matches and receiving money, benefit or consideration to carry this out. The 35-year-old also facilitated other players not to use their best efforts and failed to co-operate with an ITIA investigation by withholding evidence.

In total, Musialek was ruled to have breached the Tennis Anti-Corruption Programme (TACP) on 39 occasions.

The ruling means Musialek is prohibited from playing in, coaching at, or attending any tennis event authorised or sanctioned by the governing bodies of tennis. Musialek has also been fined $50,000 (£39,293/€46,008).

Musialek ban linked t..

August 17, 2023

Impairments push Rank Group to FY loss despite land-based recovery

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Rank Group posted a 5.9% increase in revenue to £681.9m (€798.0m/$868.1m) in its 2022-23 financial year, though increased impairment costs led to a statutory net loss.

The operator reported year-on-year growth across all operating segments in the 12 months to 30 June. This included the Rank-owned Grosvenor, Mecca and Enracha land-based businesses, which endured a challenging few years during the pandemic.

There was also notable growth within Rank’s digital business, with revenue rising 10.4% to reach £202.9m.

However, higher impairment charges, together with increased operating costs, meant the business posted a net loss.

O’Reilly believes economic pressures are easing

Chief executive John O’Reilly acknowledged the higher costs during his evaluation of the FY performance. However, he said with certain cost now stabilising and inflation easing, this will allow for revenue and profit growth moving forward.

After Covid and economic headwinds, rank is positioned to drive profit and..

August 16, 2023

Caesars upgrades William Hill Nevada mobile sportsbook

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William Hill has revealed its upgraded Nevada mobile sportsbook app.

The revamped offering sees William Hill’s mobile betting app migrate to Caesars’ proprietary Liberty platform.

Caesars has owned William Hill’s US business since September 2020, when it purchased the company in a £2.9bn deal. The operator later sold William Hill’s non-US assets to UK-facing operator 888 for £2.0bn.

Read the full story on iGB North America.

August 16, 2023

iGB pens strategic partnership with Glücksspielwesen.de

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iGB has entered into a strategic partnership with Glücksspielwesen.de, the gambling-focused arm of Germany’s monthly news title for public servants, Behörden Spiegel.

Under the agreement, iGB will leverage its audience to connect the gambling industry with Glücksspielwesen’s network of policy analysts, advisers and politicians.

iGB will work with Glücksspielwesen on joint activations including content initiatives such as webinars. The deal also covers event support, with the aim of bringing together gaming operators and suppliers with Germany’s political classes.

The partnership comes in the wake of Germany’s reregulation of gambling. Earlier this year, the country welcomed Gemeinsamen Glücksspielbehörde der Länder (GGL) as its new federal regulator to oversee the market.

Creating a forum for engagement

“Clarion Gaming, the parent company of iGB, is clearly the champion of information in the gaming and gambling industry,” Behörden Spiegel senior consultant Robert Hess said. “Glüc..

August 16, 2023

Online growth drives US gaming revenue to record $16.1bn

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US commercial gambling revenue reached a Q2 record of $16.07bn, the 10th consecutive quarter of growth, according to the American Gaming Association (AGA).

This represented an 8.1% increase from the total US gaming revenue recorded in Q2 2022 and is the second-highest grossing quarter in industry history, with only Q1 this year reporting a higher figure.

Overall, the US gambling industry generated $32.71bn in commercial gaming revenue for the six-month period, up 11.9% from last year.

AGA estimated the results led to $7.28bn in gaming tax revenue for state and local governments, a 12.9% increase from 2022. The trade body highlighted the industry is in on track to contribute the highest total in tax revenue it has done in its history.

“While commercial gaming is on track for an unprecedented third consecutive year of record revenue, the lasting impact we’re making on our communities through this record growth is even more impressive,” said AGA president and CEO Bill Miller.

Online ..

August 14, 2023

Indiana sports betting revenue up despite handle dip in July

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Sports wagering revenue increased in Indiana in July despite the state reporting a decline in handle.

Consumers in Indiana spent $203.8m betting on sports in July, a 1.4% drop from $206.6m in July 2022. This was also 9.1% behind $224.1m in June this year.

Baseball remained the sport of choice among Indiana bettors, drawing $69.4m in total bets. A further $12.6m was wagered on basketball, while $56.2m was spent in parlay bets and $62.9m betting on other sports.

Taxable adjusted gross revenue reached $23.3m, a 11.5% increase from last year. This was also 19.5% ahead of the $19.5m generated in June 2023.

Read the full story on iGB North America

August 14, 2023

World Series of Politics takes on Florida sports betting in bumper 20th episode

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It’s the 20th episode of the World Series of Politics: Brandt Iden, Brendan Bussmann and Robin Harrison are joined by two legal experts to pick through the Florida sports betting case in this special episode.

Florida’s sports betting market came to an abrupt halt just weeks after launch when a legal challenge blocked the Seminole Tribe of Florida’s updated compact with the state.

After two years of legal action the DC Circuit Court reversed the decision, paving the way for the Seminoles and Hard Rock Digital to relaunch. That may come as soon as this month.

Does Florida sports betting face further challenges?

But how deep does the ruling go? The case clears the way for a relaunch, but steers clear of ruling on whether the compact should have been permitted without a constitutional amendment. That issue goes back to the Florida courts to decide.

does the seminoles’ sports betting agreement need to be ratified by a state referendum?

What this ultimately means, and whether it gr..

August 11, 2023

Dearth of igaming legislation prompts major WynnBet roll-back

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Wynn Resorts blames a dearth of igaming legislation and marketing costs for a major reduction in its online brand WynnBet’s US footprint.

Wynn will cease operations in Arizona, Colorado, Indiana, Louisiana, New Jersey, Tennessee, Virginia and West Virgina as soon as possible.

Operations in New York and Michigan remain under review. Only Nevada and Massachusetts operations are guaranteed to continue – states where it operates land-based properties.

“Better uses of capital deployment”

There are better uses of capital deployment for Wynn shareholders than the high levels of marketing spend required for online sports betting, chief financial officer Julie Cameron-Doe explained.

“While we believe in the long-term prospects of igaming, the dearth of igaming legislation and the presence of numerous other investment opportunities available to us around the globe have led us to the decision to curtail our capital investment in WynnBet to focus primarily on those states where we maintain..

August 11, 2023

Four more charged in Iowa State gambling investigation

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Prosecutors in Story County, Iowa have charged four more Iowa State football players for tampering with records.

The charges come as part of the Iowa Division of Criminal Investigation’s (DCI) sports integrity probe.

Among those charged was Iowa State running back Jirehl Brock. He is accused of placing four bets on games involving his own team. Prosecutors allege that he played in two of these games.

The first round of charges were issued on 1 August. At that time, seven individuals were charged.

In May, the University of Iowa reported 26 athletes across five sports were suspected of betting on sports. Betting on sports is against National Collegiate Athletics Association (NCAA) rules.

Use of third party accounts to conceal betting

The four have all been charged with using a third party sports betting account to make bets. This practice would have concealed that the now-charged individuals were placing the bets.

Over the course of his wagering activity, Brock placed 1,327 mobi..

August 10, 2023

Entain hails record online players after revenue hits £2.40bn in H1

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Entain reported a 14% year-on-year increase in net gaming revenue (NGR) to £2.40bn (€2.78bn/$3.06bn) during the first half, helped by a record number of active online players in Q2.

The group revealed growth in all business areas for the six months to 30 June. Both online and retail revenue, excluding US operations, was up year-on-year at Entain.

When including $944.0m in revenue contributions from its BetMGM joint venture with MGM Resorts, NGR was up 19%. That business, Entain added, BetMGM posted its first positive EBITDA figures in the second quarter.

Higher revenue also meant an increase in pre-tax profit for Entain. However, its bottom-line was hit by the £585m provision set aside as part of deferred prosecution agreement (DPA) negotiations with the UK’s Crown Prosecution Service (CPS) over historic activities in Turkey.

Entain makes ‘clear strides’ towards strategic goals

CEO Jette Nygaard-Andersen was pleased with H1. She said the operator made “clear strides” towards deli..

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