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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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Caesars Entertainment Closes Sale of the LINQ Promenade

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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.

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The Stampede Continues with Aristocrat Interactive’s Buffalo Gold Max Power

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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.

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Compliance Updates

JCM Global Receives Approval to Operate in West Virginia

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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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