Betting News Archives

February 16, 2023

CDI closes $197.2m sale of Arlington Heights property to Chicago Bears

Churchill Downs Incorporated (CDI) has completed the sale of a property in Arlington Heights, Illinois, to nearby National Football League (NFL) franchise the Chicago Bears.

The initial deal was struck in September 2021, with the Bears having agreed to pay $197.2m to acquire the 326-acre site, which is currently home to Arlington Heights Racecourse.

The racecourse opened in 1927 and upon closure had a capacity of 35,000 seats. The venue had not hosted any form of racing since the deal with the Bears was agreed in 2021.

Read the full story on iGB North America

February 16, 2023

AGA: Sports betting revenue up 73% as overall GGR hits record total

The American Gaming Association (AGA) reported that the 2022 gross gaming revenue total hit a new all-time record, with sports betting growing 72.7% year-on-year.

US commercial gaming revenue – excluding revenue taken by tribal entities – reached $60.42bn in 2022, up significantly compared to 2021’s then-record of $53.0bn.

During the year, new records were also broken for both sports betting handle and revenue, which stood at $93.2bn and $7.5bn respectively.

Read the full story on iGB North America

February 15, 2023

Bally Sport broadcaster Diamond Sports edges toward bankruptcy

Diamond Sports Group, operator of the Bally's branded TV sports networks, will miss $140m in interest payments due today (15 February), in a move that puts it near bankruptcy.

The company has instead chosen to enter a 30-day grace period on the interest payments. The interest payments relate to the company’s 6.625% senior unsecured notes due in 2027, the 5.375% 2L senior unsecured notes due 2026 and the 5.375% 3L senior secured notes due 2026.

Talks with creditors to continue

During this grace period, it said, talks with creditors and other key stakeholders will continue, “regarding potential strategic alternatives and deleveraging transactions to best position Diamond Sports Group for the future”.

This may result in the Sinclair Broadcast Group subsidiary filing for Chapter 11 bankruptcy, with its total debts reportedly $8.6bn.

Diamond Sports said it expects that “business will continue as usual” during this grace period. The company operates 19 regional sports networks (RS..

February 15, 2023

AdmiralBet and Hamburger SV extend partnership

An existing partnership between Novo Interactive's AdmiralBet and German football club Hamburger SV – also known as HSV – has been extended until 30 June 2024.

AdmiralBet has been the exclusive sports betting partner of Hamburger SV since 2019.

As part of the extension, AdmiralBet will provide content to Hamburger SV’s digital channels, which will include its AdmiralBet series.

AdmiralBet branding will also be present on video and LED boards at Hamburger SV’s home stadium, Volkparkstadion.

Additionally, during the second half of the club’s season, AdmiralBet and Hamburger SV will operate the AdmiralBet numbers game, an interactive tool where fans can test their knowledge of Hamburger SV on match days and compete with friends.

“It is a great honour for us to continue to be a partner of HSV,” said Florian Hermann, director of marketing and operations at Novo Interactive. “The fans and the passion for football are our focus.

“We are underscoring this with the extension of t..

February 15, 2023

Iowa sports betting revenue rises despite handle drop in January

Sports betting revenue in Iowa increased 15.4% year-on-year in January despite consumers in the state spending less on wagering.

Revenue for the month amounted to $16.5m, an increase from $14.3m in January last year but 19.1% behind $20.4m in December 2022.

Of this total, $15.3m was generated through online sports betting, while the remaining $1.3m in revenue came from retail wagering.

Read the full story on iGB North America

February 15, 2023

Detroit casino revenue up 2.6% to $103.5m in January

Revenue at the three land-based commercial casinos in Detroit increased 2.6% year-on-year in January despite a sharp drop in sports betting revenue.

Total revenue amounted to $103.5m for the month, up from $100.9m in January 2022 but 5.8% lower than $109.9m in December last year.

Table games and slots accounted for almost all revenue during January, generating $103.4m in total, up 4.4% year-on-year.

Read the full story on iGB North America

February 15, 2023

Twain Sport enters Canada with Ontario supplier licence

Twain Sport, a new live sports vertical from Hybrid Sports League and BetGames, has been approved by the Alcohol and Gaming Commission of Ontario (AGCO) for its first Canadian licence.

The expansion will increase the brand’s international presence in Ontario’s market.

Ahead of the licence approval, Twain Sport had announced it was expanding its content selection with the launch of T-Kick, a game that offers a combination of real-life sports and esports.

Read the full story on iGB North America

February 15, 2023

FSB launches sports betting in Ontario with Fitzdares

B2B sportsbook and igaming service provider FSB has launched in the Canadian province of Ontario in partnership with long-term partner Fitzdares.

Under the arrangement, Fitzdares, which went live in the market earlier this month, is now running a sportsbook powered by FSB’s sports betting technology.

Fitzdares’ igaming offering is also being driven by FSB’s online casino aggregation product, while the bookmaker also has access to the FSB back office platform.

Read the full story on iGB North America

February 14, 2023

BetParx launches in Ohio through Memorial Tournament partnership

BetParx has launched mobile sports betting in Ohio through a partnership with a PGA Tour golf tournament, the Memorial Tournament.

Through the deal, patrons in Ohio can wager on BetParx’s sportsbook app.

In addition, for the second consecutive year, BetParx will be the exclusive mobile sports betting sponsor of the Memorial Tournament in Dublin, Ohio.

Read the full story on iGB North America