Back by popular demand, the PlayUSA Rewind!
This week, Missouri sports betting will try and right the ship in 2022, sports betting in South Dakota eyes September start date, and a pair of sports franchises strike gambling deals.
On the rewind:
It’s official, Missouri sports betting is back for round 2
State Sen. Denny Hoskins-R says he supports an “all-inclusive” gaming agenda in 2022, including the ability to legally sports bet in Missouri.
Hoskins told Missourinet, he plans to pre-file sports betting legislation in December. The senator also predicted sportsbooks could generate roughly $20 million annually for the state.
Missouri was one of four states that failed to pass a sports betting bill during the 2021 legislative season. In addition, a bill authored by Hoskins failed to gain momentum after it was tethered to the legalization of video lottery terminals (VLT).
Hoskins will again attempt to legalized VLT’s which he said would raise $250 million annually for K-12 education.
The takeaway: Senate President Pro Tem Dave Schatz-R is anti-VLT. So Hoskins has to figure out how to sway the Senate President before anything can happen. In this instance, sometimes “all-inclusive” isn’t the best course of action.
Oakland A’s MLB team to Vegas?
Could Las Vegas steal another team from Oakland?
Oakland Athletics (MLB) President David Kaval told the Nevada Independent the franchise is on parallel paths towards vacating the 55-year old Oakland Coliseum.
One way forward includes a new $12 billion development, including a waterfront ballpark at the Howard Terminal. The other, a $1 billion retractable roof baseball stadium in Southern Nevada.
The A’s lease at the Coliseum ends in 2024, so while there is time to negotiate a new contract, every second counts.
The takeaway: Although Las Vegas would love to have an MLB franchise, would the city be willing to provide additional capital to build another state-of-the-art facility? The city already dished out major cash to build an arena for the Vegas Golden Knights (NHL) and forked over $750 million for the Las Vegas Raiders (NFL) new stadium, all in under four years. So will they make it 3-for-3?
South Dakota sports betting aims for start of NFL Season
Those interested in the tourist destination of Deadwood, South Dakota, will be excited to hear a new amenity is coming to the city.
The state commission on gaming approved regulations to govern sports betting in South Dakota, meaning the state is on track to launch betting operations by the start of the upcoming NFL season.
Some key dates to remember include August 2, when lawmakers are expected to give the rules final approval. Then on September 8, the SD Commission on Gaming (SDCG) is expected to approve operators. So, if there are no setbacks, retail sports betting can begin on September 9, the first day of the NFL regular season.
The takeaway: While it might not be the entire state of South Dakota getting the chance to participate in sports betting, this is a step in the right direction. There is a possibility that down the line, rules can be amended by the commission to include mobile sports betting. Time will tell, but for now, South Dakota is on pace to join the sports betting ranks in 2021.
Pirates + BetMGMG and Lions + WynnBET
It’s always nice to know who your favorite teams partner with for sports betting, right?
Fans of the Pittsburg Pirates (MLB) might be excited to hear the ballclub has partnered with PA sports betting operator BetMGM Sportsbook. Like most of these deals, the multi-year partnership will allow BetMGM to display ads on the Pirates’ website and social media channels. Additionally, fans should get ready to see several BetMGM signs at PNC Park.
A little over five hours Northwest of Pittsburg, the Detroit Lions (NFL) struck a deal with WynnBET as the team’s official sports betting partner.
According to the dbusiness journal, the deal will include the WynnBET Sports Bar at Ford Field, which will open for the upcoming 2021 NFL Season. Branding for Wynn will also populate the Lions’ mobile app, social media channels, preseason TV broadcasts, regular season programing, and radio broadcasts.
The takeaway: These deals signify how far the legalization of sports betting has spread. They also show how embedded sports betting will become in the future of sports. It’s safe to assume, in time, every major sports franchise across all leagues will one day have a partner in the gambling world.
Maryland sports betting rules get approval
The expansive, all-inclusive, Maryland sports betting network is one step closer to reality.
The massive sports betting market in Maryland will consist of 40 retail licenses (Class A and Class B) and 60 mobile licenses. Ten class A licenses will be set passive for casinos, horse tracks, and sports venues. The 30-class B licenses will include other facilities similar to the Maryland State Fairgrounds.
Mobile licenses will cost $500,000 for the application fee plus an additional $1.5 million for a licensing bond. The retail application fees can range from $50,000 to $2 million, with licensing bonds ranging from $75,000 to $6 million.
The takeaway: Maryland is an exciting state to watch. It’s sandwiched between the sports betting markets of Delaware, Pennsylvania, Virginia, West Virginia. With roughly 6 million people, it will be interesting to see if operators can convert those customers already betting on apps in other jurisdictions.
This week’s Market Teasers include Las Vegas Sands Corp., which is slowly accepting online gaming, and the Score Media Group, which is reworking its internal trading team.
Las Vegas Sands Corp.
$LVS | $47.88 | 1.13% change
- One of the more traditional casino companies left globally, it appears $LVS is finally embracing online gambling. The company announced it would build a digital gaming investment team to focus on the business-to-business space. At the time of the announcement, shares were $51.02. Since then, the stock has hovered between $47-49 per share.
Score Media and Gaming Inc.
$SCR | $15.16 | 4.34% change
- After several swings and misses, TheScore announced plans to bring its trading “in-house” after reporting a $2 million loss in net gaming revenue. The stock was riding a June high of $24.67 per share but is now trending downward, landing between $15-19 per share.
** Market Teasers is not financial advice, nor am I a financial advisor. All figures were taken July 20 at market close.