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Gambling in the USA

COLORADO SPORTSBOOKS HIT ANOTHER HIGH WITH $210.7 MILLION IN OCTOBER

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PlayVirginia.com: Virginia sportsbooks extend historic start with $265 million in February

Estimates show that DraftKings and FanDuel have dominated the market, but more competition is coming, according to PlayColorado analysts

Colorado’s online and retail sportsbooks surged to a new high again in October, capitalizing on a sports schedule that resembled a more normal month than in any other since the Centennial State launched sports betting in May, according to PlayColorado analysts. This while fresh proprietary estimates from gaming researchers Eilers & Krejcik Gaming and obtained by PlayColorado show that sportsbook heavyweights DraftKings and FanDuel have so far captured the vast majority of the Colorado market.

“October’s data shows that Colorado’s market is able to thrive even as the sports schedule normalizes and able to overcome a local team struggling, such as the Denver Broncos,” said Jessica Welman, analyst for PlayColorado. “Another sign that the market is marching toward maturity is that DraftKings and FanDuel have firmed up their market leads in the state, something we’ve seen in every legal market that has launched since 2018 while attracting a large number of competitors to push innovation in the market.”

Colorado’s sportsbooks attracted $210.7 million in bets in October, according to data released Monday by the Colorado Department of Revenue’s Division of Gaming. October’s handle was up 2% from $207.7 million in September, generating a record $17.4 million in gross gaming revenue, up 317.7% from $4.2 million in September.

Eilers and Krejcik estimates obtained by PlayColorado show that DraftKings and FanDuel — the nation’s two largest sportsbook operators which both launched in Colorado on May 1 — have generated 84% of Colorado’s gross gaming revenue since the market launched in May.

According to the proprietary estimates:

  • DraftKings has captured 46% of the online market in terms of gross gaming revenue since the market launched in May. That would equal more than $18 million through October.
  • FanDuel has generated 38% of gross gaming revenue since launch. That would be more than $15 million through October.

No new operators launched in October, but more competition is coming. PointsBet launched earlier this month, and Penn National’s Barstool-branded app is expected soon after opening a Barstool-branded retail sportsbook in early November at Ameristar Casino in Black Hawk.

“DraftKings appears to be winning the battle so far, but FanDuel is a force as the two jockey for the market lead,” said Ian St. Clair, analyst for PlayColorado.com. “That leaves a lot of smaller operators fighting for the remainder of market share. Colorado’s market is still sorting itself out, though, and that could bring challengers to the dominance of the Big Two.”

Online betting produced 98%, or $206.4 million, of October’s wagers. That was up from $203.9 million, or 98.2%, of September’s handle. All retail and online bets netted $9.6 million in betting proceeds, a jump from a $3.4 million loss in September. October’s winnings yielded $824,700 in taxes.

Colorado’s October handle fell behind Indiana, which attracted $230.9 million, to place No. 6 among the nation’s largest markets behind New Jersey, Nevada, Pennsylvania, and rapidly expanding Illinois.

“Colorado remains a major player in the U.S. market, with perhaps the most competitive market for operators,” Welman said.

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Even with the Broncos’ struggles, the NFL was easily the most popular bet in October, attracting $68 million in action, up from $38.6 million in September. With the World Series, baseball managed to draw $23 million in bets. And college football, aided by the return of Colorado State and Air Force, jumped to $16.5 million in October from just $3.8 million in September.

“The jump in interest in college football shows how local interest can affect betting, and a bigger jump should be expected after the return of the Buffs,” said St. Clair. “Otherwise Colorado is mirroring other major markets in that the NFL is king in the eyes of bettors.”

For more information and analysis on regulated sports betting in Colorado, visit PlayColorado.com/news.

 

Gambling in the USA

Major Casino Operators Ready to Invest if Georgia Lifts Casino Ban

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As discussions about legalizing gambling in Georgia gain momentum, major casino operators like Wynn Resorts and Boyd Gaming are poised to lead the charge if the state changes its restrictive laws.

During a recent Georgia House study committee meeting, Christopher Gordon, president of Wynn Resorts’ development arm, expressed keen interest in building a multibillion-dollar casino should legal barriers be removed. Similarly, Boyd Gaming’s government affairs vice president Ryan Soultz highlighted Georgia’s market attractiveness.

Wynn’s model would be similar to its $2.6 billion Encore Boston Harbor, suggesting that a new Georgia casino could employ up to 4000 workers and contribute substantial gaming tax revenue.

Although specific locations have not been chosen, both companies have indicated they would need constitutional changes to move forward. Their willingness to invest heavily in the Peach State demonstrates a strong belief in the untapped potential of the state’s gambling market.

Such developments offer a compelling argument for lawmakers to consider gambling expansion, marking a shift toward economic incentives as a primary motivator for legislative change.

Should Georgia proceed with legalizing casino gambling, the legislative language will be crucial in shaping the industry’s landscape. Key proposals may include requiring casino companies to invest at least $1.2 billion per resort and generate a minimum number of jobs, often set at around 10,000 per license. This ensures that any developments bring tangible benefits to the local economy.

Additional legislative demands include rigorous background checks for key personnel, proven industry experience, and adherence to strict technical and financial standards. Only companies with substantial capital and robust infrastructure, like Wynn Resorts and Boyd Gaming, are likely to meet these stringent requirements.

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Gambling in the USA

Plaza Hotel & Casino to welcome the U.S. National Champions Summerlin South All Stars to be TNT Ignitors for Welcome to the Weekend Friday Fireworks, next Friday, Sept. 5

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The Plaza Hotel & Casino will welcome the U.S. National champions, the Summerlin South All Star team to be the special guest TNT Ignitors of the property’s Welcome to the Weekend Friday Fireworks show, next Friday, Sept. 5 at 9:15 p.m., taking place on the Plaza’s rooftop pool deck.

“Getting to ignite the Plaza’s amazing fireworks show is a great honor for the team,” said Chris Mallory, president of Summerlin South. “And we thank the Plaza and Jonathan for the warm welcome and fun celebration planned for the team, including a pizza party for them and their families.”

“All of Las Vegas is proud of the accomplishments that the Summerlin South team made in the All Star postseason,” said Jonathan Jossel, CEO of the Plaza Hotel & Casino. “We look forward to hosting the team and their families, and we hope all of their fans come out to celebrate with them and enjoy the fireworks show.”

The summer fireworks shows are staged from the top of the Plaza’s South Tower every Friday at 9:15 p.m. from May through September.

The public can watch the Welcome to the Weekend Friday Fireworks Show for free at the rooftop pool, at Carousel Bar under the Plaza’s iconic dome, and from in front of the Plaza on Main Street, which will be closed to vehicular traffic during the show for viewing the fireworks from Carson Avenue to Ogden Avenue.

The Plaza’s fireworks will be dependent on weather conditions and are subject to change or cancellation. Updates will be available on the Plaza’s social media channels, including Facebook, Instagram and Twitter.

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Gambling in the USA

New Hampshire Charitable Gaming Revenue Hits $24.8M in July

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New Hampshire charitable gaming revenue has reached $24.8 million last month, up from the previous year’s figure of $14.5 million, boosted by the opening of new casinos.

The latest figures come from the New Hampshire Lottery and Gaming Commission, which shows that of the 15 casinos, only four saw losses, while four others were not in operation last July.

The Nash Casino, which opened in March, generated the highest revenue of all the casinos – $5.8 million.

The highest year-over-year increase was seen by the Revo Casino Lebanon, which opened in a new location in December, and saw revenue rise by 321% from $387,836 to over $1.6 million.

Other notable rises were seen from the Lakes Region Casino, which generated an increase of 24% year-over-year and The Brook, which saw a 17% rise from $4.7 million to $5.5 million.

The biggest declines came from The Lucky Moose Casino, where profits dropped by 79% from $666,454 to $139,748, and the Gate City Casino, which saw profits fall by 16% from $2.7 million to $2.3 million.

Historic horse racing revenue rose by 85% year-over-year, from $10.6 million to $19.7 million, while games of chance revenue increased by 53% from $3.3 million to $5.1 million.

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