This Week in Gambling

It’s been a long time coming. Now, the list of mobile sports betting operators for New York has been released, and it says a lot about the state legislature there. The two bidding parties revealed are one from FanDuel and another from Kambi. That does not mean these are the only two operators, though. The bid from FanDuel includes additional operators such as DraftKings, Bally’s, and BetMGM. The bid from Kambi includes PointsBet, Caesars, WynnBET, Resorts World, and Rush Street Interactive. Noticeably missing from the list of approved operators are bet365, FOX Bet, and Barstool sports. Why would these reputable…

This week’s gambling news finds both Caesars Entertainment and MGM Resorts looking to sell Las Vegas Strip casinos! MGM plans to sell The Mirage, while Caesars has yet to name which Strip casino they plan to move. But why sell any of their Las Vegas casinos when Nevada is in the middle of such a strong economic recovery? On our show from October 12th we reported that casinos in Nevada were on a six-month streak of bringing in over $1 billion in gaming revenue each and every month! And now, here we are in November, and I’m happy to report…

Things have been rocking in Sin City as the recovery from the pandemic continues, but one Strip casino is on the chopping block. Which one? No one knows just yet… not even Caesars Entertainment. Despite a robust jump in revenue over last year, the company as a whole still expects to see a net loss of more than $230 million. Revenue is up almost 90% from last year, but has announced plans to part ways with a yet-to-be-named Strip casino. Caesars is making this move in order to secure more cash, and also has plans to liquidate their William Hill…

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At a time when we’re seeing record gambling revenues from Las Vegas to Atlantic City, we may lose sight that Colorado and Tennessee sports betting are also doing well. Actually, Colorado just set a new record for their sports betting handle with just over $408 million in the month of September. The monthly revenue for the state was more than $22 million, which barely missed setting another record for revenue in a month. Their best month ever was slightly over $23 million. Meanwhile, Tennessee sports betting is doing better than anyone expected. The state’s Education Lottery there have been $1.7…

MGM Resorts brought on over $2.7 billion in revenue for the third quarter of this year. However, the company still wants to sell their Mirage Casino and Hotel property on the Las Vegas Strip. Their announcement does come as a bit of a surprise if you consider the earnings report they just released showed revenue growth of 140%. Also, MGM Resorts did just purchase the operational rights to The Cosmopolitan property on the Strip at City Center. Their CEO, Bill Hornbuckle, stated that MGM had another strong quarter which was primarily due to domestic operations, adding that the results showed…