NFL week 1 is in the book and wow, what a week it was. Football aside, the week was also filled with some major gambling news.
This week, CT sports betting clears a major hurdle, Caesars Entertainment sells off its UK William Hill business, and we provide some quick US sports betting updates.
On the rewind:
Connecticut sports betting gets federal approval
Sports betting in Connecticut is full steam ahead.
The US Department of the Interior approved a compact between the Mashantucket Pequots, Mohegan Tribe, and Connecticut. With the federal government stamp of approval, sports betting can proceed with its planned rollout.
In a statement, Gov. Ned Lamont said sports wagering, including online betting, could be available in October.
Sports betting will debut at Foxwoods Resort Casino, Mohegan Sun resorts, and additional locations operated by the Connecticut Lottery Corporation.
Additionally, there will be three major operators in the state, Rush Street Interactive (state lottery), DraftKings (Mashantucket Pequot), and FanDuel (Mohegan Indians).
The takeaway: Connecticut is expected to be a significant player in the Northeast gaming market. While it may not rival Pennsylvania right away, it will have a leg up on New York, which is still struggling to get its mobile sports betting operations up and running.
VSiN inks deal with YouTube TV
The Vegas Sports & Information Network (VSiN) will now be available on YouTube TV. As a refresher, DraftKings acquired VSiN for a massive $100 million in March.
Although the financials of the deal have yet to be released, VSiN will deliver 24/7 sports betting news on YouTube TV’s sports plus add-on package.
The takeaway: This is a solid deal by DraftKings as alternative streaming options like YouTube TV have become more popular. Prior to the YouTube TV deal, VSiN could also be found on Comcast Xfinity, Sling TV, fuboTV, iHeartRadio, and TuneIn.
888 to buy UK William Hill from Caesars Entertainment
It appears Caesars Entertainment has found a buyer for its UK William Hill business, and it’s none other than 888 Holdings.
With the $3 billion acquisition, 888, the popular online poker and casino operator, will have access to William Hill’s 1,400 betting shops across the UK.
According to Reuters, 888 CEO Itai Pazner said there are no plans to offload the betting shops.
“The shops are run well [and] they are profitable,” Pazner told Reuters.
The takeaway: This is a smart move by Caesars. By offloading its UK business, the company can now focus entirely on its US operations.
US sports betting updates
It looks like Maryland sports betting is going to miss a better part of the NFL betting season.
John A. Martin, director of the MD Lottery and Gaming Control Agency, told the Baltimore Sun the plan is to get sports betting up and running by “late fall, early winter.”
“It is our intent to expedite the process as efficiently as we can to get us there,” Martin said.
Rules and regulations to govern sports betting are currently in a review process, with a public hearing scheduled for Sept. 22. As with other jurisdictions that have legalized sports betting, after a public hearing, edits will be made before a finalized version of the rules are published.
Right now, customers can head to Tin Lizzie, Cadillac Jack’s, Gold Dust, and Mustang Sally’s casino to place retail sports bets. Unfortunately, there is no online sports betting in the state.
$DKNG | $59.22 | -2.07% change
- Following the YouTube deal, $DKNG shares rose to a daily high of $64.45. Shares have since declined, however, the announcement still brings a wealth of opportunity for the company.
Caesars Entertainment Inc.
$CZR | $103.03 | -1.26% change
- Shares of $CZR hovered around $106 following the announcement it was selling its UK William Hill business. However, the addition of legalized sports betting in AZ will help increase its footprint in the US.
** Market Teasers is not financial advice, nor am I a financial advisor. All figures were taken on September 14 at market close.
From the archives
- NFL offensive rookie of the year odds are in and PlayUSA has you covered.
- With the launch of sports betting in AZ, here are the top betting apps in the state.
- When Tampa Bay sports fans had the best season no one ever saw.