Penn stock investors are upset with CEO Jay Snowden and the company’s sports betting spend

Last Friday, Penn Entertainment’s stock jumped nearly 20%. That was after an investor letter aimed at CEO Jay Snowden for the company’s online sports betting spend. On Friday morning, Donerail Group managing partner Will Wyatt addressed chairman David Handler and the rest of the board. He had this to say. “We believe that the significant […]

Zach Wolpin  •  04 Jun 2024
Virginia Sports Betting Handle Sets An April Record With $563.5M In Bets

The Virginia sports betting handle set an April record with $563.5 million in bets placed for the month in 2024, an increase of 32.3% from $426 million in April 2023. Virginia collects tax revenue from 14 licensed sportsbooks Gambling revenue has grown each year since the industry arrived in 2021, when the state collected $236.4 […]

James Foglio  •  03 Jun 2024
Reading Chief Mark Bowen Charged After Placing ’95 Bets On Football Matches’

Reading head of football operations Mark Bowen has been charged by the Football Association (FA) for placing 95 bets on soccer matches. Bowen, 60, is alleged to have placed the wagers over a two-year period until January of this year. However, none of the bets were on games involving the Royals. Reading HFO Mark Bowen […]

James Foglio  •  03 Jun 2024
New York State Tax Revenue From Mobile Betting Surpasses $2B

The New York State Gaming Commission reported $45.5 million in mobile sports betting revenue for the week ending May 26 on Friday, propelling the Empire State’s all-time tax revenue just above $2 billion. New York has nine licensed sportsbooks, a tax rate of 51% Mobile sports betting first launched in New York in January 2022. […]

James Foglio  •  03 Jun 2024
VGW Faces Class Action Lawsuit Over Illegal Gambling Operations In Georgia

Interactive entertainment company VGW has been accused of unlawfully operating and marketing its internet gambling websites within the state of Georgia, according to a class action lawsuit. Class action lawsuit filed against VGW’s Holdings Limited, Malta Limited, Luckyland Inc., and GP Limited Destiny Kennedy filed the class action lawsuit last week against VGW’s Holdings Limited, […]

James Foglio  •  03 Jun 2024
For eight months in a row, Colorado has recorded over $500 million in their betting handle

The Colorado Department of Revenue reported $509.5 million in a sports betting handle in April. That’s the eighth straight month that the state has wagered over half a million dollars. Colorado just finished their fourth year of being a legal commercial wagering state. On top of their monthly betting handle, Colorado has surpassed $18 billion […]

Zach Wolpin  •  03 Jun 2024
Celtics Open 2024 NBA Finals As Betting Favorites Over Mavericks

The Boston Celtics opened as -225 favorites Thursday at ESPN BET ahead of the 2024 NBA Finals against the Dallas Mavericks. Offshore sportsbooks, such as Bovada and BetOnline, show the Celtics as -210 and -375 favorites as well. The Mavericks were listed as +185 underdogs after their series-clinching Game 5 victory over the Minnesota Timberwolves […]

James Foglio  •  31 May 2024
New York Lawmakers Pursuing New Sports Betting Advertising Requirements

The New York Legislature is pushing for stricter sports betting advertising requirements to bring awareness to the hazards of gambling while requiring advertisers to include the state’s problem gambling hotline number in ads. New York Senate’s 1550 bill requires all sports betting advertisers to include language about the addictive effects of gambling The New York Senate […]

James Foglio  •  31 May 2024
Sportradar Enhances Advertising Tech For Gambling Operators

Sportradar has innovated its own advertising tech to help gambling operators. The sports data aggregator announced on Thursday the enhancement of its ad programmatic advertising service with the roll out of its audio and digital-out-of-home (DOOH) advertising screens. Sportradar developed audio and DOOH advertising screens for digital audio users worldwide Audio and DOOH advertising screens […]

James Foglio  •  31 May 2024