Latest News
Kansas Sports Betting Handle Clears $160 Million in Opening Month
The opening month of sports betting in Kansas saw more than $160 million in handle, with $1.269 million in revenue.
All told, the Sunflower State reported $160,527,361 in cumulative wagers, or handle, during September, split among the six Kansas sportsbooks operating.
Kansas’ full first month revenue report was released during Wednesday’s monthly Kansas Lottery meeting.
“We have put together consensus revenue estimate numbers for the legislature to sort of expand and work on budgets for the upcoming year,” Lottery Executive Director Stephen Durrell said. “… And I think there was a lot of pent-up demand for sports wagering within the state and people wanted a legal and safe way to place wagers on their favorite teams, and it’s been really interesting to watch.”
September Handle by Operator
What to Know About September’s Report
DraftKings Kansas was the opening month handle leader with $74,184,545 in online bets placed.
Trailing the Boston-based operator were FanDuel Kansas ($35,044,784), BetMGM Kansas ($27,963,901), Barstool Sportsbook Kansas ($10,731,055), Caesars Sportsbook Kansas ($6,014,084) and PointsBet Kansas ($1,267,197).
The leader in retail wagers during September was Barstool Sportsbook via its Hollywood Casino at Kansas Speedway location.
In total, the enterprise of PENN Entertainment netted $4,373,751 in retail wagers during September. FanDuel Sportsbook at Kansas Star Casino was the only other retail location operating during the month, and it accounted for $945,132 in handle.
Because of free bets and promotions, DraftKings, FanDuel, Barstool and BetMGM Kansas had no online revenue in September, and therefore paid no state taxes. The state took in $129,617 in taxes, with more than $90,000 coming from the two retail sportsbooks in operation.
Where Kansas Sports Betting Stacked Up in September
As far as opening month handles are concerned Kansas sports betting apps ranked behind New York ($1.365 billion), Arizona ($291.212 million) and Nevada ($286.548 million), but ahead of Tennessee ($131.444 million), Virginia ($58.896 million), Connecticut ($54.641 million), Indiana ($35.215 million) and Colorado ($25.621 million).
During his comments Wednesday, Durrell said regulators from the lottery and Kansas Racing and Gaming Commission are working to get marketing entities in the state, such as the bars, restaurants and other facilities covered in SB 84, licensed.
He also said regulators are working with the MLS’ Sporting KC to get them approved to launch sports betting operations, but declined to give a firm timeline when that could happen.
“Unfortunately, the way the bill was drafted there is a bit of ambiguity in certain parts on how the marketing activities could work,” he said. “And so, we’re trying very hard, along with our friends at the KRGC, to figure that out. But there are problems in the bill that maybe are not designed to give individual marketing entities what they originally thought that they were going to get under the bill. And so, we’re trying to work that out.”
Latest News
Caesars Entertainment Closes Sale of the LINQ Promenade
Caesars Entertainment announced the closing of the previously announced sale of the LINQ Promenade to a joint venture formed between TPG Real Estate (TPG) and the Investment Management Platform of Acadia Realty Trust (Acadia) for $275 million. Concurrent with the closing of the transaction, Caesars made a $275 million voluntary prepayment of the Term Loan B due 2030 with the proceeds from the transaction.
Latham & Watkins LLP and Brownstein Hyatt Farber and Schreck LLP represented Caesars on the transaction. Kirkland & Ellis LLP provided transaction counsel to TPG & Acadia.
Latest News
The Stampede Continues with Aristocrat Interactive’s Buffalo Gold Max Power
Aristocrat Interactive, Aristocrat’s online Real Money Gaming (RMG) division, announced that the stampede continues with the launch of Buffalo Gold Max Power in the US. This marks the fifth online game in the award-winning and iconic Buffalo portfolio, following the success of Buffalo, Buffalo Gold Collection, Buffalo Chief, and Buffalo Gold Revolution.
Buffalo Gold Max Power builds on the legacy and popularity of Buffalo Gold, a fan-favorite in land-based casinos. This online adaptation is born to entertain with new features powered by Aristocrat’s proprietary Max Power mechanic, offering players up to 46,656 ways to win free spins and collect Gold Buffalos. With dynamic reels that vary from 2 to 6 symbols on every spin and a redefined feature, Buffalo Gold Max Power is ready to create a stampede of excitement.
“For more than a decade, our iconic Buffalo games have captivated players as some of the most iconic slot games in land-based casinos. With Buffalo Gold Max Power, we’re bringing this timeless favorite online with enhanced gameplay and features that players will love. The launch in New Jersey is an exciting milestone as we continue to deliver innovative and memorable gaming experiences globally,” said Josh Morris, SVP Content at Aristocrat Interactive Content & Aggregation.
Earlier this year, Buffalo was awarded the winner of the Top Performing Omni-Channel Slot at the EKG Awards. The launch of Buffalo Gold Max Power is the latest step in Aristocrat Interactive’s strategy to expand Aristocrat’s industry-leading content portfolio into the online space. The game is currently available with online operators in New Jersey, Ontario, Canada and the UK, with more markets to follow overtime.
Compliance Updates
JCM Global Receives Approval to Operate in West Virginia
JCM Global announced that it has successfully passed regulatory review and received a manufacturer’s license from the West Virginia Lottery Commission. The license enables JCM to directly sell to and service customers in the state.
“At JCM, we are committed to our customers. While attaining licensing was not required, we pursued it because it allows us to directly provide JCM’s leading technology and advanced systems, backed by our world-class service, and support, resulting in faster service times and simplifying the entire relationship between JCM and our customers,” said JCM SVP – Sales, Marketing & Operations Dave Kubajak in a statement.
JCM recently announced it has attained licenses in Colorado and New Mexico, bringing the company’s total number of active gaming licenses to 177.
In West Virginia, JCM will provide technology, including the iVIZION bill validator; ICB Intelligent Cash Box System, which boosts security and efficiencies across the gaming floor; and the GEN5 thermal printer, which delivers TITO, personalized promotions, and rewards directly to the player.
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