DAZN Out, Discovery In, as BT Sport Heads in a Different Direction
DAZN is no longer a contender to purchase BT Sport. BT Group announced this morning that it has decided to head in a different direction, with 먹튀검증 Discovery Inc its new target.
DAZN was close to securing a deal to purchase BT Sport. However, it has lost out to Discovery Inc. (Image: Front Office Sports)
Only a couple of weeks ago, DAZN was confident it had a virtual lock on purchasing BT Sport. The $800-million deal would have given the European sports broadcaster substantial access to new viewer markets, as well as sports content. However, it has now been benched.
BT Group has entered “exclusive” negotiations with Discovery Inc., the company behind the Discovery Channel, Eurosport, Discovery+ and other regional channels across Europe. If the two make a deal, Discovery will gain access to BT Sport’s Premier League and UEFA Champions League offerings.
Deal Close to Wrapping Up
The arrangement has reportedly reached an 메이저사이트 advanced stage. Finalization of the terms of the agreement is possible sometime during the first quarter of the year. As BT Group explains, the resulting operations will include a 50/50 broadcast joint venture that will join BT Sports and Eurosport UK channels, as well as media rights.
The two companies are already working on the creation of the new entity, hoping that it will be ready for launch sometime later this year. That would follow a separate Discovery deal in the works with AT&T.
The telecommunications company is looking to merge its WarnerMedia subsidiary with Discovery to create Warner Bros. Discovery. European authorities already approved the deal, with finalization coming before this summer.
DAZN Caught By Surprise
DAZN wasn’t expecting to be pushed out. Even as recently as yesterday, everything appeared to be moving forward for a BT Sport-DAZN arrangement. The Times reported that BT Group had even discussed the deal with the Premier League. The league has to give its approval as well because of the current rights agreement.
However, Discovery may have presented an offer BT couldn’t refuse. DAZN’s chairman, Kevin Mayer, explained that it was “uneconomical” to continue to pursue a BT Sport deal. He added that the company will still explore new options.
Mayer said that DAZN still wants to expand its operations in the UK. He hinted that something may already be in the works, but didn’t offer details.
Discovery has deep pockets, as well as several strong agreements already in place. It holds the TV rights for the Olympics across all of Europe, with that deal worth over $1.2 billion.
Working out a deal with BT Group will 토토사이트 further Discovery’s European access. In addition to the Premier League and the UEFA Champions League, it will also pick up UEFA Europa League, cycling’s Grand Tours, the Grand Slams of tennis, the winter World Cup season, and Premiership Rugby.
Churchill Downs Makes Veteran Executive Ben Murr Permanent President of TwinSpires
Churchill Downs Inc. on Friday announced that Ben Murr would take over as the new president of TwinSpires and online 먹튀검증 gaming.
Ben Murr Churchill Downs
Ben Murr, who has served as the CTO for Churchill Downs Inc., was officially named Friday as the company’s new president of TwinSpires and Online Gaming. (Image: Churchill Downs Inc.)
Murr, a longtime executive with the Louisville-based gaming company, became TwinSpires’ interim leader after Ian Williams left to join Wynn Interactive in October. Williams became president of Wynn Interactive in November, after joining the Las Vegas company to serve as its COO.
For more than nine years, Murr served as Churchill Downs Inc.’s senior vice president and CTO. Before that, he previously served as the president of CDI’s United Tote division and as Churchill’s CIO.
I’ve been heavily involved with TwinSpires and our Online Gaming operations throughout my tenure at CDI,” Murr said in a release. “I am passionate about these businesses and believe strongly in their future growth potential and strategic importance for CDI.”
He’ll retain the senior vice president title, according to the Churchill Downs announcement. However, the company said it will look to find a new CTO, who would also serve as a senior vice president, in the near future.
Churchill Downs Inc. CEO Bill Carstanjen said in the release that Murr has helped fuel growth across the company’s operations.
“He has been a key player throughout the extensive changes in our Company over the last 14 years and will continue to move our TwinSpires and Online businesses forward,” Carstanjen said.
Churchill Downs Keeping TwinSpires
TwinSpires serves as the brand name for 메이저사이트 Churchill Downs Inc.’s advance deposit wagering (ADW) platform for pari-mutuel betting. The name is a nod to the iconic feature of the company’s namesake racetrack in Louisville. The online wagering platform for thoroughbred, quarter horse, and harness racing is available in nearly 40 states.
A year ago, Churchill Downs announced it would rebrand its BetAmerica sportsbook and iGaming platforms under the TwinSpires name. It currently offers sports betting in Arizona, Colorado, Indiana, Maryland (retail only), Michigan, Mississippi (retail only), New Jersey, Pennsylvania, and Tennessee. It’s also expected to launch sports betting in Louisiana. Online casino games are currently available in Michigan, New Jersey, and Pennsylvania.
Last month, Bloomberg reported that Churchill Downs was considering a sale of TwinSpires, with an estimated valuation of $1.5 billion. However, two weeks later, Horse Racing Nation reported that would not happen, as Murr notified employees after the stock market opened on Dec. 17.
The Bloomberg report came after Churchill Downs Inc. reached agreements to sell Arlington Park in Illinois to the Chicago Bears and 115 acres of land around Calder Casino in Florida to a logistics company. Churchill Downs will receive about $490 million after the deals close.
Top Horse Racing ADW
TwinSpires typically ranks as the country’s top ADW horse racing platform. According to data from the Oregon Racing Commission, which has tracked data since 2013, TwinSpires has been the No. 1 platform based on handle every year except for 2020. Last year, Flutter-owned TVG eclipsed it by less than $9.5 million. In 2020, TVG took in $2.46 billion in bets, compared to $2.45 billion.
The figures for 2021 are not yet complete. However, through the first three quarters, TwinSpires has reclaimed the top spot, but by a narrow margin. Its $1.91 billion handle is about $51.6 million more than TVG.
Churchill Downs has not had the same amount of success in sports betting. In that realm, it competes with operators like DraftKings, FanDuel, BetMGM, and Caesars Sportsbook.
Not all states report handle and revenue totals by operator. Of those that do, TwinSpires typically ranks at the lower end of 토토사이트 sportsbooks in those states.
In Arizona, TwinSpires took in $1.6 million of the $486.1 million in wagers made in October. TwinSpires accepted about $2.7 million of the $463 million in bets made in Indiana in December. And for the first five months of the 2022 fiscal year, TwinSpires has reported a handle of $32.9 million in Pennsylvania, where $2.77 billion has been wagered.
Maverick Challenging Washington Sports Betting Tribal Rule, Hires PAPSA Lawyer Olson
Maverick Gaming filed suit in the United States District Court for the District of Columbia on Tuesday. It is aiming to challenge what it claims is a sports betting monopoly held by tribal casino operators in Washington State.
Former Solicitor General Ted Olson, 먹튀검증 seen in 2018. He’s representing Maverick Gaming in a Washington State sports betting lawsuit. (Image: Brendan McDermid/Reuters)
The card room operator is challenging what it calls an “erroneous application” of the Indian Gaming Regulatory Act (IGRA). Maverick believes tribal operators in the state are leveraging the casino exclusivity they gain through the IGRA and applying it to sports wagering.
The company is bringing out the big legal guns in its effort to get a piece of Washington State’s sports wagering action, including Ted Olson, who represented New Jersey in the now-famous 2018 Supreme Court ruling on the Professional and Amateur Sports Protection Act (PASPA).
The Indian Gaming Regulatory Act was intended to guarantee parity between tribal and non-tribal gaming, but unfortunately Washington State is misusing IGRA to instead create tribal monopolies on certain types of gaming, such as sports betting,” said Olson in a statement.
Olson has argued 65 cases before the Supreme Court, with a win rate of more than 75 percent. In addition to PASPA, he successfully argued to overturn a California vote banning gay marriage, and Bush v. Gore case stemming from the 2000 presidential election, among others.
Olson’s Supreme Court experience and success are relevant here because Maverick founder and CEO Eric Persson believes the case will ultimately be decided by the nation’s highest court.
Maverick Sees Precedent in Florida
Nearly two years ago, the Washington state House of Representatives voted 83-14 in favor of sports betting bill HB-2638, which ultimately became the sports wagering law there. As things stand today, bettors can only place sports wagers at tribal casinos. Likewise, mobile betting is only permitted in and around those venues.
When that legislation was passed, it drew heavy criticism from Maverick, with Persson claiming it creates a tax-free monopoly for tribal operators. The bill was brought to the House floor under the auspices of it being an emergency. But Maverick procured an opinion from Washington Supreme Court Judge Philip A. Talmadge, who said there’s no valid reason to consider the sports betting bill in that light because it generates no tax revenue for the state.
The card room operator is optimistic a recent 메이저사이트 sports betting ruling in Florida sets a favorable precedent for a ruling in its favor. In November, the DC Circuit Court invalidated tribal accords with Florida, because off-reservation sports wagering was permitted. That litigation is ongoing in the US Court of Appeals.
The Washington Indian Gaming Association (WIGA) fired back, asserting the Maverick litigation undermines their compacts with the state.
“This dangerous and destructive lawsuit is without merit, and were it to somehow be successful, it would cause irreparable harm not only to historically marginalized tribal communities but also to the broader public, which opposes a massive expansion of gambling in their neighborhoods and communities,” WIGA Executive Director Rebecca George said in a statement.
Monopolies, No Online Betting Not Working
Currently, sports wagering is live and legal in 30 states and Washington, DC. In the wake of PASPA, what’s become clear is that the states that are actually generating a decent amount of tax revenue from the activity are those with robust competitive landscapes and those permitting true mobile wagering.
Conversely, states with single-operator schemes and those that don’t allow mobile betting are merely bit players and aren’t accessing regulated sports betting’s growth potential to its fullest extent. For his part, Olson sees the Washington State tribes as trying to leverage IGRA to prevent the very competition that’s found in other states.
“Contrary to IGRA’s own words, the law is being used to insulate tribes in Washington State from competition that exists in many other 토토사이트 states with legal gaming marketplaces. We look forward to resolving this matter so that IGRA’s intent and wording are reflected in Washington State’s regulated gaming marketplace for tribal and commercial businesses,” he said.
Bally’s Will Wait Until April to Launch New York Mobile Sports Betting App, Says Kim
In case you haven’t heard, mobile sports betting in New York is all the rage these days. As the biggest state to launch a multi-operator system, New York quickly established itself as the nation’s top sports betting market, and that 먹튀검증 was with some approved operators – such as Bally’s Corp. – still on the sidelines.
Soo Kim, chairman of Bally’s Corp., talks to CNBC on Tuesday regarding a proposal by a hedge fund he manages to buy the gaming company. Kim also discussed why Bally’s isn’t in a rush to launch its mobile sports betting app in New York. (Image: CNBC)
And according to Bally’s chairman, don’t expect the company to launch its app in New York any time soon.
Soo Kim spoke with CNBC reporter Contessa Brewer earlier this week. He said that BallyBet won’t roll out until “sometime in April,” and that he was fine with missing out on the upcoming Super Bowl.
We have a longer-term plan,” Kim said. “I think part of this is why maybe our plan isn’t fully being grasped by the public markets. Public markets tend to be very short-term oriented.”
Since Bally’s Corp. stock (NYSE: BALY) hit its 52-week high of $75.92 last March, the stock has trended downward. After a slight uptick last fall, shares continued their fall and reached the 52-week low of $26.11 just last week.
Kim attributed the tumbling price to the gaming industry in general spending too much on promotion. He said that will eventually show up in poor earnings reports.
This week, though, the stock has rebounded after Standard General, a hedge fund that owns a 20 percent stake in Bally’s, offered to buy the remaining shares for $38 each. Kim is the managing partner for Standard General. However, he told Brewer that he recused himself from acting as Bally’s chairman on the deal.
A special committee from Bally’s is looking into the offer. According to Standard General’s offer, the deal will only take place if that panel signs off on it.
Changing Business Model
The long-term play in sports betting, he said, will involve a market contraction. While New York will have nine operators competing when they all launch, Kim noted that other states have more licensees – or the ability to offer more.
In Indiana, for example, BallyBet is one of 13 operators. However, the state law legalizing sports betting allows for up to 39 sports betting apps to get licenses.
We think that actually, the current version of sports betting is not a great business,” Kim explained. “It’s a fine business, not a great business. We think that there’ll be a wave of consolidation that will rationalize promotions. But more importantly, I think that people will stop competing with just free money, but people will start competing with product.”
Kim didn’t explain in detail in the interview what that product may look like. However, in early December at SBC Summit North America – in another interview with Brewer – Kim described the current sports-betting environment as a niche of a niche market.
Only a fraction of people who have cable or streaming packages watch sports regularly, he explained. And of those people, only a fraction of them bet on point spreads and moneylines. But Kim did say that he thinks there 메이저사이트 is a big opportunity with a younger generation, who may want more luck-based opportunities in gaming.
New York Promos Concern Kim
Kim also seemed shocked at how the first wave of mobile sports betting apps have operated in New York over the first couple of weeks.
He told Brewer that he thought the smaller number of operators, coupled with the 51 percent tax on gaming revenue, would lead to “a little more reasonable” approach to customer acquisition and promotion.
It’s kind of funny, like literally, without casting aspersions on all of our fellow colleagues and industry participants, but you could literally open an account with one (operator), open an account with another (operator), get your free promotional money, and bet. I don’t know why everyone’s not doing that,” he said this week.
It may not necessarily be as easy as Kim makes it out to be. The free bets and promotional opportunities vary among the six operators currently live in New York. In many cases, there are certain terms and restrictions placed on the credits or bonuses received.
What’s Available in New York
PointsBet, which launched this week, is offering a risk-free first bet of up to $500 and a risk-free PointsBetting wager of up to $1,500.
Caesars, the current market leader in the state, is offering $300 in free bets for new customers who make a $20 wager on their first bet. BetRivers is offering a $250 bonus match on first-time deposits
DraftKings is offering a risk-free first bet of up to $5,000 if new users make an initial deposit of $1,000 or more. BetMGM and FanDuel are both offering risk-free first bets of up to $1,000.
Those specials are only for first-time customers with that specific app. For example, someone who set up a DraftKings account in New Jersey would not qualify for that operator’s first bet promo in New York.
According to data from the New 토토사이트 York State Gaming Commission, the four sportsbooks that launched on Jan. 8 – BetRivers, Caesars, DraftKings, and FanDuel – reported a handle of more than $600 million for the first nine days of operation. It’s unknown exactly how much sign-up bonuses, site credits, or risk-free wagers contribute to the handle.
Besides BallyBet, the other New York operators awaiting approval to launch are Resorts World and Wynn Interactive.
Oakland A’s Identify Four Potential MLB Ballpark Sites in Las Vegas
The Oakland A’s continue to spark rumors that they will follow their former Bay Area pro sports colleagues to Las Vegas.
Oakland A's Las Vegas MLB ballpark
Oakland A’s team President Dave Kaval looks over stadium renderings for a new ballpark in Oakland, California. Kaval says the team is also considering four sites in Las Vegas that could become the future home of the MLB team. (Image: Getty)
The Raiders made NFL history in March of 2017 when league owners approved of Mark Davis’ wishes to relocate his storied franchise to Southern Nevada. After decades of the NFL opposing Las Vegas on grounds that widespread legal sports betting would jeopardize the integrity of professional football games, the Raiders moved to the casino hub and brought with it an exuberance 메이저사이트 of excitement.
Las Vegas has greatly embraced its two major professional sports teams — the Raiders and NHL Vegas Golden Knights. A third “big four” team could be on the way with the A’s.
The Las Vegas Review-Journal has confirmed with A’s officials that the team is in negotiations with landowners regarding four sites that could potentially be developed into a professional baseball stadium.
Good for Business
Las Vegas casinos are benefiting from the arrivals of the NFL and NHL. Raiders’ home games routinely bring in thousands of visitors on the weekends. The NFL embracing Las Vegas with the 2022 Pro Bowl — and forthcoming 2024 Super Bowl — are added bonuses.
The 2024 big game will deliver Southern Nevada an economic impact north of half a billion dollars, analysts forecast. The A’s, which play 81 home games a year during the regular season, could help keep casino hotel rooms occupied during the week.
A’s brass refused to comment on where specifically the four targeted ballpark sites are located.
All the sites and potential partners have pros and cons, and we’re weighing those as we make a final decision and pick a final site,” A’s President Dave Kaval told the RJ.
Kaval added that all elements of Las Vegas are being considered, including each site’s walkability to the Strip. The A’s boss says the goal is to strengthen the A’s brand.
Moving to Las Vegas has certainly paid off for Davis. Prior to his relocating the team to Nevada, the Raiders franchise in 2017 was valued by Forbes at an estimated $2.4 billion. Last year, Forbes said the team was worth more than $3.4 billion. That ranks the Raiders No. 16 of the NFL’s 32 franchises.
The A’s are near the bottom of MLB team valuations. Forbes values the Oakland team at $1.12 billion — ranking the franchise No. 26 of MLB’s 30 teams.
Tropicana Deal Off Table
The A’s confirmed last year making an offer on a piece of Las Vegas real estate team officials believed would be ideal for an MLB ballpark. But that deal eventually fell through.
The Tropicana Las Vegas Casino Hotel Resort gained much speculation as the targeted property. But the Bally’s Corporation bought the resort’s non-real estate assets in April of 2021 for $308 million from Penn 토토사이트 National’s Gaming and Leisure Properties real estate investment trust.
Located on the Strip’s southern end, the Tropicana is within walking distance of Allegiant Stadium and is adjacent to Harry Reid International Airport.
Online Gambling Continues to Gain Ground in Australia
Australians are making a move toward online gambling and betting. A new report from the Australian Communications and Media 먹튀검증 Authority shows a slight uptick in the amount of online related traffic.
Bettors wait in line to place their bets. This doesn’t happen with online sportsbooks, which have seen an increase in activity in Australia. (Image: AP News)
Australia’s Australian Communications and Media Authority (ACMA) has distributed a report on the state of online betting in the country. As predicted, more attention is being given to the segment, although growth is slower than most had anticipated. The research is a little dated, comparing the first six months of last year with the same period in 2020.
Online Betting In Australia Slow to Grow
The ACMA points out that 11% of the 메이저사이트 Australian gambling population participated in online gambling activity over the latest six-month period. A year earlier, that number was 8%. That indicates growth, but not on the level that analysts thought would arrive
Online sports betting witnessed a similar growth rate – only 3%. However, overall, this figure was significantly low compared to other betting options. During the six-month period in 2020, the rate was 5%; now, it’s at 8%.
There’s a neck-and-neck race between sports betting and racing in Oz. Sports betting is ahead, at 57%, but racing is almost even at 55%. Australians still haven’t caught the eSports betting bug, as this segment only comprised 5% of the total.
By way of comparison, eSports betting in the US is only slightly ahead. As much as 8.5% of US bettors bet on eSports, according to a report published last year in Gaming Law Review. However, the segment is still more popular in Australia than election betting, which only garnered 5%.
The most popular form of gambling hasn’t changed much. The ACMA points out that 21% of the adult population participated in online lotteries during the six months the research covered.
There’s still a certain percentage of Australians who prefer to use illegal platforms for their gambling activity. Some 5% of those involved in the research acknowledged the use of black market alternatives.
ACMA Looks for Greater Control
Perhaps in an effort to further stem the black market activity, the ACMA wants more authority. Now, it only has “voluntary” authority, with no ability to make demands of gaming operators and other digital platforms. The agency reached out to lawmakers this week to seek changes.
This past Tuesday, the ACMA’s chair, Nerita O’Loughlin, paid a visit to a Senate Estimates hearing. She was there to discuss how the ACMA doesn’t have the ability to compel the release of data on misinformation from digital platforms. This, she asserts, limit’s the agency’s ability to handle complaints.
“If you look at some of our other legislative responsibilities, we had specific powers to compel information from say the telecommunications companies … we don’t have similar powers to compel information from 토토사이트 platforms on misinformation and disinformation,” O’Loughlin told Australian senators.
While the conversation focused on information regarding digital platforms, and not specifically gaming activity, it opened the door to the ACMA being given definitive regulatory authority. Perhaps then, the 5% gambling on illegal sites could be cut off.