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Daily Archives: February 13, 2024

February 13, 2024

Penn to acquire Wynn’s NY sports betting licences, launch ESPN Bet in state

Penn Entertainment has agreed to acquire Wynn Interactive Holdings' New York sports betting licences, clearing the way for Penn to launch ESPN Bet in the state in 2024.

The acquisition gives Penn market access in New York state. As part of the deal, Penn will acquire Wynn Resorts subsidiary Wynn Interactive’s mobile sports wagering licences entity, WSI US, LLC, for $25m (£19.8m/€23.3m).

WSI US, LLC holds the sports betting licences issued to Wynn by the New York State Gaming Commission in 2021.

Upon relevant approvals, Penn will launch ESPN Bet in the state later this year. Penn partnered with ESPN in August last year, in a deal that saw Penn’s Barstool Sportsbook rebranded as ESPN Bet. It then launched across 17 US states in November.

Jay Snowden, CEO and president of Penn Entertainment, said this acquisition will expose ESPN Bet to the most prominent sports betting market in the US.

“This is an important development that will bring ESPN Bet to the largest regulated online ..

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February 13, 2024

Flutter pens inaugural external B2B sportsbook deal with PMU

Flutter Entertainment has agreed a deal to provide a multi-channel B2B sportsbook platform to France’s Pari Mutuel Urbain (PMU).

The agreement sees PMU become the first external brand outside the Flutter group to use the B2B sportsbook platform. It extends a partnership between the parties that launched in 2010.

PMU gains access to customer products and associated operational services via the Flutter platform. This is in addition to the continued provision of event management, fixed odds pricing and risk management services.

Flutter said PMU will also benefit from continued investment into the platform. This, it adds, allows for seamless sports betting product rollouts.

“In sports betting, we were looking to simplify our architecture through a turnkey solution and to concentrate our efforts on marketing and CRM,” PMU ecommerce director Emmanuel Vacher said. “Flutter’s offering meets this need. Alongside them, we are now engaged in a multi-year partnership.

“Our common objective ..

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February 13, 2024

Nevada breaks state record for Super Bowl bets with $185.6m wagered

The Nevada Gaming Control Board (NGCB) has revealed $185.6m (£146.6m/€172.3m) was wagered on Sunday’s Super Bowl in the state's 182 sportsbooks, breaking the previous record.

The game, played between the San Francisco 49ers and eventual champions Kansas City Chiefs at the Allegiant Stadium in Las Vegas, exceeded the $179.8m wagered on the 2022 Super Bowl.

However, a 3.7% hold percentage meant sportsbooks’ total win was just $6.8m. Since 2015, only three editions of the Super Bowl have generated a lower sportsbook win than the 2024 game.

In the NGCB press release, chairman Kirk Hendrick said: “The Nevada Gaming Control Board congratulates and thanks all the stakeholders involved for successfully delivering such a spectacular event from the state of Nevada.”

AGA expecting Super Bowl bets to reach record numbers

the american gaming assocation was predicting all-time high numbers for super bowl bets

The NGCB’s numbers should not come as much of a surprise. The American Gaming As..

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February 13, 2024

Maryland’s January sports betting revenue up 23.4% year-on-year

Maryland has reported a 23.4% year-on-year increase in January for sports wagering, accumulating $545m (£431.9m/€506.2m) in revenue for the month.

Maryland’s January figures far exceeded the same month last year, when it recorded $441.5m in revenue. Taxable win for the month was $55m, with the contribution to the state standing at $8.2m, an all-time high.

Hold in January was 14.7%, 1.2% higher than the same month last year, while prizes paid to players amounted to $465m, again a 21.8% increase year-on-year.

Maryland has now accumulated $3.1 trillion in sports betting handle for its 2024 financial year, a 144.9% hike on 2023.

Maryland lottery and gaming director John Martin attributed the strong revenue figures to the NFL playoffs, stating the sporting calendar was the “driving force” behind the state’s sports wagering success.

FanDuel out in front

fanduel led the way in maryland for january in both online and retail

Live! Casino Hotel and FanDuel recorded a handle of $244.6m in ..

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February 13, 2024

WynnBet ceases operations in Massachusetts

The Wynn Interactive division of Wynn Resorts has ceased operations of its WynnBet online gambling brand in the state of Massachusetts.

Players in Massachusetts have 30 days from yesterday (12 February) to withdraw any funds from their WynnBet account.

Wynn Resorts, however, will continue to operate retail sports betting in the state. Players can continue to wager at the land-based sportsbook and kiosks inside its Encore Boston Harbor casino.

The halting of operations in Massachusetts comes after Wynn Resorts last August set out plans to scale back the brand across the US. Along with Massachusetts, WynnBet will also exit Colorado, Indiana, Louisiana, New Jersey, Tennessee, Virginia and West Virginia.

WYNNBET IS IS ALSO SET TO EXIT Colorado, Indiana, Louisiana, New Jersey, Tennessee, Virginia and West Virginia

The brand remains active in Nevada, New York and Michigan. However, Wynn chief financial officer Julie Cameron-Doe last week said its operations in New York and Michigan rem..

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February 13, 2024

Indiana sets monthly revenue record of $53.5m for January

Indiana has recorded a total taxable adjusted gross revenue (AGR) of $53.5m (£42.4m/€49.7m) for January, beating the previous record of $50.6m set in December.

Indiana reported a total sports wagering handle of $480.3m for January, a 4.5% drop from the previous month’s total of $503.1m.

Of the handle, $269.9m was spent on parlays, with American football and basketball receiving $57.5m and $113.1m in bets respectively.

DraftKings and FanDuel battling it out in Indiana

draftkings and fanduel have been battling it out in indiana

Ameristar Casino and its DraftKings sportsbook was the leader for handle with $181.4m, accumulating a total AGR of $18.7m. FanDuel, meanwhile, came away with $23.3m in AGR despite taking less in bets than DraftKings with $160.1m.

Penn Entertainment-operated Hollywood Lawrenceburg took $39.4m in handle while Belterra Casino, another FanDuel partner, placed fourth with $36.6m.

Caesars, meanwhile, was fifth for handle with $32.1m at Harrah’s Hoosier Park, fin..

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