5. Alaska Sports Betting Bill Introduced In State House
Alaskan legislators have tabled a brand new invoice permitting cellular sports activities betting and day by day fantasy sports activities contests within the US’ most northerly state. Alaska Home Invoice 385 was launched to the state’s legislature on February 22 by Consultant Adam Wool and gives each for the licensing of operators in addition to their taxation and regulation.
Highlights of the laws embrace:
- Legalized cellular betting on collegiate {and professional} sporting occasions;
- Legalized prop bets, swimming pools, parlays, and straight-up wins-losses;
- The minimal age to guess is 21 years of age;
- No bets on highschool athletics;
- 12% tax fee on adjusted gross income;
- Licensing price set at $5,000;
- Limits the variety of cellular apps to 10.
4. Brazilian Deputies Vote to Legalize Gambling
Deputies voted 246-202 in favor of Bill 442/1191, bringing varied types of playing to Brazil for the primary time since a wide-reaching ban got here into impact in 1946. The vote, set to happen on February 22, was pushed again till February 23 however made it by way of committee. The vote marks a watershed second within the historical past of its ongoing efforts to legalize gaming within the nation turning shaping itself into some of the vital markets worldwide.
Casinos can now be established in every of Brazil’s 26 states, within the type of built-in resorts. Underneath the invoice, the state of São Paulo might have as much as three casinos, whereas Rio de Janeiro, Minas Gerais and Bahia might have as much as 2 casinos every. All different states might have one built-in resort every.
3. Arkansas Legalizes Online Sports Betting as State’s Joint Budget Committee Approves Amended Rules
On February 22, 2022, the Arkansas Joint Finances Committee legalized cellular/on-line sports activities betting within the state of Arkansas by approving the proposed amendments to the state’s on line casino gaming guidelines. Whereas a precise timeline has not been established, Arkansas casinos could launch on-line betting web sites and cellular purposes 10 days from right this moment, February 22, 2022, which might enable for a March 4, 2022 launch.
The amended guidelines enable Arkansas casinos to function their very own on-line betting platforms or contract with a third-party on-line betting platform operator. Every on line casino could contract with as much as two totally different third-party betting platform operators. If a on line casino chooses to contract with a third-party betting platform operator, the identify of the on line casino should be displayed conspicuously on the operator’s on-line betting web site and cellular utility. Moreover, the principles mandate that 51% of the web income generated from on-line betting should go to the on line casino the third-party betting platform contracts with.
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Weekly Efficiency of Prime Sports activities Betting Firms
| Firm | Ticker | Worth ($) | Weekly Change (%) | Market Cap (s/o) |
| Evolution AB | EVVTY | 110.15 | 4.19 | US$23.4B |
| Flutter Leisure Plc | FLTR.L | 10,400 | -1.23 | $24.2B |
| DraftKings | DKNG | 22.20 | 28.39 | US$9.1B |
| Penn Nationwide Gaming | PENN | 50.24 | 6.28 | US$8.5B |
| Boyd Gaming | BYD | 70.48 | 3.02 | US$7.9B |
| Betsson AB | BETSB.S.DX | 54.90 | 2.32 | $7.6B |
| Genius Sports activities | GENI | 5.61 | 5.84 | US$1.0B |
| Rush Avenue Interactive | RSI | 9.95 | 5.84 | US$606.3M |
Within the information…
An Alabama lawmaker has filed a invoice to permit retail & on-line sports activities betting in Jefferson County (Birmingham); If handed, could be the primary 1-county sports activities betting market, although that appears politically troublesome; a statewide sports activities betting proposal has stalled within the legislature.
Amazon Internet Providers is partnering with the Toronto Maple Leafs and Toronto Raptors to develop know-how that may create a variety of latest in-person and digital “fan experiences” together with “free-to-play gaming and on-demand sports activities betting,” the teams introduced in a press release.
Bally’s plans to launch its New York on-line sportsbook within the first half of 2022, officers stated on right this moment’s earnings name.
BetRivers is lining up for a doable Maryland sports activities betting retail launch, with state gaming regulators Thursday qualifying the sportsbook for a possible operator license.
Bettor turns $1.10 guess into $532K with insane 23-leg school basketball parlay:
Buffalo Sabres and FanDuel Group have agreed a multi-year partnership naming FanDuel as an official sports activities betting companion to the Pegula Sports activities and Leisure-owned Buffalo Sabres. The settlement additionally provides FanDuel unique rights to branding, sports activities betting odds, in addition to promotions in the course of the Sabres broadcasts.
Caesars, an official sports activities betting companion and dad or mum firm Caesars Leisure, became the official casino partner of the Cleveland Cavaliers basketball membership
California: A brand new ballot released February 23 discovered that voters assist the notion of legalizing sports activities betting in California, although not by an amazing margin.
Churchill Downs CEO Invoice Carstanjen announced that on-line sportsbook TwinSpires could be leaving the sports activities betting market. Whereas TwinSpires has been extremely profitable in horse race betting, it has struggled to compete with the big-name operators in single-game sports activities betting.
Delasport has been granted B2B sports activities betting and on-line on line casino licences from the Malta Gaming Authority.
Fanatics is hiring for a Vice President of M&A, who will “lead the method to establish, consider and negotiate potential investments and acquisitions for the Fanatics dad or mum in addition to it working firms” together with the Betting & Gaming division.
Kentucky legislators have introduced sports betting payments lately, solely to fall in need of legalization within the state. On Wednesday, Sen. David Yates launched a sports activities betting invoice, SB 213, giving the Bluegrass State one other alternative to contemplate legalizing sports activities playing.
Maine Governor Janet Mills is now in favor of retail and cellular sports activities betting for Tribes. The proposed modification would give Native Tribes a sports activities betting monopoly.
Mississippi’s sportsbooks had a relatively solid month in January, although in accordance with knowledge from the Mississippi Gaming Fee, sports activities betting revenues are down year-to-year. Sportsbooks in Mississippi turned over $66,523,295 in sports activities betting deal with in January 2022, good for $6,521,389 in income for a 9.8% win fee.
Missouri seems to be gearing up for an additional run at legalized sports activities betting, because the Missouri Home Committee on Public Coverage held a three-hour assembly this week to debate a number of payments to permit state casinos {and professional} sports activities franchise to supply retail and on-line sports activities betting.
New Hampshire set a new monthly sports activities betting deal with report of $99.5m (£74.2m/€89.1m) in January, whereas the state’s income additionally reached an all-time excessive of $8.0m.
Nevada reported $1.111 billion in sports activities betting deal with in January, narrowly clipping its earlier all-time excessive; Nevada has accepted greater than $1 billion in deal with every of the previous 4 months, recording between $1.086 billion and $1.111 every month throughout that stretch.
Sporttrade, a Philadelphia-based sports activities betting change, has announced strategic partnerships with Penn Nationwide Gaming in Louisiana and Caesars Leisure in Indiana, pending regulatory approval.
Tennessee sportsbooks set a new record for month-to-month betting deal with with $386,059,756 wagered in January 2022. This can be a growth from the $341.8 million reported in December 2021.
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2. VICI Properties Inc. Completes $4 Billion Acquisition of the Venetian Resort Las Vegas
VICI Properties Inc. (NYSE: VICI) has accomplished the beforehand introduced transaction to accumulate the entire land and actual property belongings related to the Venetian Resort Las Vegas and the Venetian Expo and Conference Middle Las Vegas, positioned in Las Vegas, Nevada for $4.0 billion in money ($6.25 billion whole worth), representing a 6.25% cap fee. The corporate financed the transaction with proceeds from the settlement of 119 million shares beforehand raised below its March 2021 and September 2021 ahead sale agreements, a $600 million draw below its not too long ago upsized revolving credit score facility, and money readily available.
In scale and in high quality The Venetian is without doubt one of the foremost belongings in American business actual property. We’re proud to change into the long-term stewards of the property envisioned, created and beautifully sustained by the Adelson household and the Las Vegas Sands Administration Crew.
Edward Pitoniak, VICI’s Chief Govt Officer
Simultaneous with the closing of the transaction, the corporate entered right into a triple-net lease settlement for the Venetian Resort with an affiliate of funds managed by associates of Apollo World Administration, Inc. (NYSE: APO) (the “Apollo Funds”). The lease has preliminary annual lease of $250.0 million and an preliminary time period of 30 years, with two ten-year tenant renewal choices. Lease below the lease will escalate on the higher of two.0% or CPI (topic to a 3.0% ceiling), starting the sooner of lease yr three or when the Venetian Resort achieves sure monetary milestones.
Moreover, VICI Properties has the chance to fund as much as an extra $1.0 billion improvement on the property by way of the Firm’s Associate Property Development Fund.
1. Caesars Entertainment (CZR) Q4 Earnings Miss, Improve Y/Y
Caesars Leisure, Inc. CZR reported combined fourth-quarter 2021 outcomes, whereby earnings missed the Zacks Consensus Estimate, however revenues beat the identical. Nonetheless, each the highest and the underside strains improved on a year-over-year foundation. Following the outcomes, shares of the corporate elevated 4.5% in the course of the after-hours buying and selling session on Feb 22.
Our take on Caesar Leisure Earnings: https://www.linkedin.com/company/the-dales-report/
The corporate witnessed a strong efficiency of its rebranded Caesars Sportsbook. It acknowledged that Caesars Sportsbook is at present reside in 22 states and jurisdictions, out of which 16 present cellular wagering.
Within the quarter below evaluation, adjusted loss per share (EPS) was $1.14, wider than the Zacks Consensus Estimate of lack of 81 cents. Within the prior-year quarter, the corporate had reported an adjusted lack of $1.70 per share. Web revenues in the course of the quarter below evaluation have been $2,591 million, which surpassed the Zacks Consensus Estimate of $2,584 million. Within the prior-year quarter, the corporate had reported web revenues of $1,585 million.
