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Expert comments on the legalization of sports betting in Kentucky, highlighting it as one of many pivotal moments for the sports betting industry seen this year

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Caleb Tallman, a sports expert at WSN, provides his opinion on Kentucky’s announcement to legalize sporting betting and how they will fair in the wider industry:

“2023 is turning out to be a pivotal year in the world of sports betting. The announcement of Kentucky’s legalization follows not only the launch of Massachusetts in March but also the NFL vote in favor to keep sportsbooks open during games – all of which encompass a wider growing acceptance of sports betting that we’re seeing across the USA.

“Whilst Kentucky isn’t home to many major pro teams, we anticipate that the market will be very profitable due to the many popular college basketball and football teams in the state. Unlike many states, Kentucky will be able to participate in college betting which will certainly be a massive asset for the tax revenue of Kentucky.

“Despite the setup not being finalized until the latter end of the year, this launch is actually looking to be a fairly quick turnaround. Usually, you can expect operations to take up to two years to be operational. However, due to the already legalized horse racing betting, we foresee the state regulators being able to launch the sports betting system much quicker than usual, being up and running by the end/beginning of 2024.“

That being said, making sure those who choose to get involved with online betting do so responsibly is also important. Therefore, WSN has also provided some top tips on way in which someone can gamble more responsibly online and do so with their limits in mind.

5 Ways to Gamble More Responsibly Online:

  1. Set Spending Limits: Sportsbook apps will allow customers to set their own spending limits to help you prevent making rash decisions and go beyond your means when betting.

  1. Set Session Timers: Bettors can set clear session timers on the sportsbook apps to limit the amount of time you spend betting. This will help keep you aware of the amount of time spent on the app and minimise out-of-control moments when gambling.

  2. Take a Responsible Gambling Quiz: Those who are new and existing to gambling are encouraged to take one of the online quizzes available to help gamblers get a clearer idea of their relationship with betting. One quiz available is offered by the National Council on Problem Gambling.

  3. Understand Your Bet: Make sure you understand the odds and the house edge of the wagers you are making and be clear on your own risk tolerance. This comes from doing your research – knowledge is power.

  4. Know Your Limits: Treat your spending limit as an expense. Once it’s gone, it’s time to walk away instead of chasing your losses which can lead to bigger problems. Likewise, be cautious when mixing alcohol with betting as it can be harder to stick to your limits and edge over your tolerance.

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Aposta Ganha strengthens LatAm sports betting market integrity with IBIA membership

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Aposta Ganha strengthens LatAm sports betting market integrity with IBIA membership

 

Leading Latin American based sports betting operator Aposta Ganha has joined the International Betting Integrity Association (IBIA), strengthening the association’s presence in the region. The operator launched six years ago and is targeting further growth internationally, notably in Brazil where it will be seeking a licence and where all sports betting operators will be required to join a monitoring body.

Aposta Ganha will now feed into IBIA’s world-leading integrity monitoring network, joining over 50 sports betting companies who operate over 125 sports betting brands globally. Aposta Ganha entered the Mexican market earlier this year with its localised brand, www.apuestagana.mx, and will work with IBIA to combat corruption and match-fixing.

Hugo Baungartner, Aposta Ganha CCO, said: “We’re proud to partner with the IBIA who share our complete commitment to protecting the integrity of sports and the safety of betting customers. Through our association, alongside other leading businesses, we’re excited to play a key role contributing to the important work the IBIA continues to do.”

Khalid Ali, CEO of IBIA, said: “IBIA is delighted to welcome Aposta Ganha to our association of leading global sports betting companies. The operator further strengthens our position in the LatAm region and globally. Aposta Ganha’s decision to join IBIA is another vote of confidence in the association and the success of its approach to protect the businesses of its sports betting operator members from corrupt betting practices. Ensuring product integrity is of paramount importance and we look forward to integrating Aposta Ganha within our monitoring network.”

IBIA is a not-for-profit body that has no competing conflicts with the delivery of commercial services to other sectors and is run by operators for operators to protect regulated sports betting markets from match-fixing. IBIA’s global integrity monitoring network is a highly effective anti-corruption tool, detecting and reporting suspicious activity in regulated betting markets.

Through the IBIA monitoring network it is possible to track transactional activities linked to individual customer accounts. IBIA members generate more than $300bn in annual betting turnover (handle), accounting for approximately 50% of the global commercial regulated land-based and online sports betting sector, and in excess of 50% for online alone. IBIA recently released a report on the Availability of Sports Betting Products which includes a focus on the Brazilian market.

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1X2 Network Keeps Expanding its US Presence via New Deal with PokerStars

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1X2 Network, a UK-based premier iGaming provider known for its diverse portfolio of slots, crash games and arcade games, announced its new US deal with top-tier casino, Pokerstars. This agreement follows after 1X2 Network’s successful partnership with Light & Wonder, a world-leading cross-platform games company.

1X2 Network and PokerStars Casino have already enjoyed a successful collaboration in Europe. PokerStars Casino has been providing the European players with 1X2 Network’s latest slots for quite some time now, making this expansion into the US market a logical next step to an already prosperous integration.

This announcement signals a significant leap for PokerStars players in the US, who will now have access to a selection of 1X2 Network’s iconic titles, including the player-favorite Wolf Strife and Eagle Strike from Iron Dog Studio, and the first aviation-themed crash game to launch in Michigan, Crashout Maverick from AD LUNAM.

Kevin Reid, Chief Executive Officer at 1X2 Network, said: “This new deal with PokerStars Casino reflects our commitment to delivering top-quality games to players around the world. With our recent launch in Michigan just this April, it is exciting to see an increasing demand for our content from US casinos. This partnership with PokerStars marks an exciting opportunity to further introduce our games to this exciting market.”

Tyler Matthews, Head of Casino from PokerStars Casino, said: “At PokerStars Casino, we are constantly striving to offer our players the best gaming experience possible. Having worked with 1X2 Network before, we are certain that this new deal will provide our players in Michigan with even more gaming excitement and variety.”

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Wynn Resorts Limited Reports First Quarter 2024 Results

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Wynn Resorts Limited has reported the financial results for the first quarter ended March 31, 2024.

Operating revenues were $1.86 billion for the first quarter of 2024, an increase of $439.2 million from $1.42 billion for the first quarter of 2023. Net income attributable to Wynn Resorts, Limited was $144.2 million for the first quarter of 2024, compared to net income attributable to Wynn Resorts, Limited of $12.3 million for the first quarter of 2023. Diluted net income per share was $1.30 for the first quarter of 2024, compared to diluted net loss per share of $0.02 for the first quarter of 2023. Adjusted Property EBITDAR was $646.5 million for the first quarter of 2024, compared to Adjusted Property EBITDAR of $429.7 million for the first quarter of 2023.

“The strong momentum we experienced in our business throughout 2023 continued to build during the first quarter with Adjusted Property EBITDAR reaching a new all-time record. The investments we have made in our properties, our team and our unique programming continue to extend our leadership position in each of our markets. On the development front, vertical construction on the hotel tower at Wynn Al Marjan Island is well underway, and we are confident the resort will be a ‘must see’ tourism destination in the UAE. We are excited about the outlook for the Company, and we believe we are well positioned to deliver continued long-term growth,” Craig Billings, CEO of Wynn Resorts Limited, said.

Consolidated Results

Operating revenues were $1.86 billion for the first quarter of 2024, an increase of $439.2 million from $1.42 billion for the first quarter of 2023. For the first quarter of 2024, operating revenues increased $217.5 million, $181.0 million, $49.8 million, and $1.5 million at Wynn Palace, Wynn Macau, our Las Vegas Operations, and Encore Boston Harbor, respectively, from the first quarter of 2023.

Net income attributable to Wynn Resorts, Limited was $144.2 million for the first quarter of 2024, compared to net income attributable to Wynn Resorts, Limited of $12.3 million for the first quarter of 2023. Diluted net income per share was $1.30 for the first quarter of 2024, compared to diluted net loss per share of $0.02 for the first quarter of 2023. Adjusted net income attributable to Wynn Resorts Limited was $176.8 million, or $1.59 per diluted share, for the first quarter of 2024, compared to adjusted net income attributable to Wynn Resorts, Limited of $33.3 million, or $0.29 per diluted share, for the first quarter of 2023.

Adjusted Property EBITDAR was $646.5 million for the first quarter of 2024, an increase of $216.8 million compared to Adjusted Property EBITDAR of $429.7 million for the first quarter of 2023. For the first quarter of 2024, Adjusted Property EBITDAR increased $91.3 million, $92.4 million, and $14.7 million at Wynn Palace, Wynn Macau, and our Las Vegas Operations, respectively, and decreased $0.3 million at Encore Boston Harbor, from the first quarter of 2023.

Wynn Resorts Limited also announced that its Board of Directors has declared a cash dividend of $0.25 per share, payable on May 31, 2024 to stockholders of record as of May 20, 2024.

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