Welcome back to the PlayUSA Rewind!
This week, Louisiana is on the verge of launching sports betting at commercial properties. Also, New York regulators continue to review operator applications, and we provide an update on Oregon and Connecticut.
On the rewind:
Louisiana casinos prepare for sports betting launch
Out of the 20 riverboat casinos in Louisiana, only seven have yet to apply for a sports betting license. The deadline to do so is Jan. 1.
Although there is no set date as to when Louisiana sports betting will launch at commercial properties, the 13 casinos that have submitted the necessary paperwork will be ready to go when the time comes.
Wade Duty, executive director of the state casino association, said several casinos are building state-of-the-art sportsbooks complete with TVs and other amenities. For now, sports betting will take place at temporary sportsbooks lounges inside the casinos.
Last year, 55 of the state’s 64 parishes approved sports betting within their parishes. Hurricane Ida delayed the process for two weeks, but Gaming Control Board chairman Ronnie Johns expects sports betting to launch soon.
The takeaway: As to be expected, Louisiana is itching to get sports betting up and running. But if you can’t wait for your favorite riverboat casino to begin taking wagers, head over to the Paragon Casino Resort. Owned and operated by the Tunica-Biloxi Tribe, retail sports betting powered by Betfred Sports, launched on Oct. 7.
New York gaming commission reviews online betting applications
A spokesperson for the NY Gaming Commission said applications are still in the review process.
Several big-name operators have banded together and submitted join applications. Some operators include DraftKings, bet365, FanDuel, Barstool, and Fanatics.
Online sports betting is expected to bring in $500 million annually once fully operational. Retail betting has been operational since July 2019, but mobile betting will be the big boon for the state.
The takeaway: New York is taking its time going through the applications process. It’s to be expected due to the complicated framework. Right now, it’s anyone’s game as to which combination of operators will win the coveted contracts.
New casinos on the horizon in Illinois
One Illinois casino, four potential homes.
First, Chicago White Sox legend Bo Jackson has become an equity partner in a proposed Southland Live Casino in Calumet City. The Calumet City casino is expected to cost roughly $275 million and include a 150,000 square-foot gaming complex with an 18-story hotel.
Other bid locations include Lynwood, Matteson, Homewood, and East Hazel Crest.
Speaking of Homewood, the village board voted 5-1, approving an endorsement resolution to develop a future casino. The agreement is between both Homewood and East Hazel Crest.
If Homewood is selected, the casino would be owned and operated by Wind Creek, IL LLC.
The takeaway: The casino process in IL has moved and will always move at a snail’s pace. Don’t expect it to move any quicker anytime soon. Not only are new casinos in the state being considered, but a state-of-the-art Chicago casino is also under discussion.
When is Oregon sports betting moving over to DraftKings platform?
Let’s talk about Oregon sports betting, which is transitioning from the Scoreboard app to the DraftKings Sportsbook app. Although there is no timeline, the switch is expected to happen by the end of 2021.
The Scoreboard helped Oregon generate $25.1 million in betting handle for September. Football was the top performer totaling $9.7 million in total wagers, followed by baseball with $6.8 million in total bets.
Oregon is one of few states which employes a single sports betting operator — in partnership with the state lottery.
The takeaway: Experts anticipate once the switch over to DraftKings is complete, numbers will increase. DraftKings has tremendous name recondition and a dedicated user base so, this theory holds some clout.
Connecticut online sports betting & casino gaming is happening
Connecticut residents rejoice; online casino games and online sports betting are here.
The state announced a soft launch on Oct. 12 for the Mohegan and Mashantucket Pequot tribes and the Connecticut Lottery Corporation. The soft launch is limited to a small number of bettors and players in order to test out products before going fully live to the public. This comes after retail betting at both Foxwoods and Mohegan Sun casinos already began on Sept. 30.
The state Department of Consumer Protections approved over 100 online casino games; however, live dealer games will not be included. For 750 lucky customers, the windows to place bets online will be from 3 to 11 p.m. Oct. 12 and noon to 11:59 p.m. Oct. 13.
On Thursday and Friday, online sports betting and online casino games will run for 24 hours. It is still unknown how the 750 participants will be selected.
Sports betting and online casinos will be available through FanDuel (Mohegan Sun), DraftKings (Mashantucket Pequot), and Rush Street Interactive (Lottery).
The takeaway: A soft launch is an industry standard. Should everything run smoothly, it’s likely online sports betting and casino will available state-wide by the end of the month.
Market Teasers is shifting to a one-company spotlight. This week, Penn National Gaming ($PENN) is cracking the champagne now that its deal to acquire theScore Media has been approved. The $2 billion deal is expected to close by Oct. 19.
Penn National Gaming Inc.
$PENN | $74.55 | 0.51% change
- According to the WSJ, Score Media Gaming announced its company shareholders voted in favor of the acquisition. The company is the lone operator for sports betting in Canada, thus giving Penn National a running start in a new market.
From the archives
- October news and rumors shaking up Las Vegas.
- G2E highlights include Florida Seminole compact debate.
- PlayUSA Super Bowl power ranking.