Each Wednesday, I provide my thoughts in short-form audio on a topic in the US gambling industry.
Kalshi likes to tell us it’s a “source of truth.” On Tuesday, it was apparently a purveyor of fake news. I get into that in this week’s podcast.
Backstory here on Kalshi’s deal with xAI that wasn’t. And a post from Twitter/X denying a partnership!
Gambling news roundup
New Ohio online casino bill would limit market, ban sweepstakes (SBC Americas): “Rep. Brian Stewart‘s House Bill 298, filed on May 20, would make online casino gambling legal in the state, with a launch date of no later than March 31, 2026. … Meanwhile, the bill also addresses online sweepstakes in clear language. While some of the swathes of legislation aimed at tackling that vertical beats around the bush, Stewart’s bill namechecks them directly on numerous occasions and clarifies that online sweepstakes that use a dual-currency system and simulate gambling would be expressly illegal unless specifically authorized.
Operating such sweeps would be a criminal offense.”
Looks like that new trade group started by VGW will need to get to work quickly here, in addition to the other states where potential bans are in play.
Maryland Governor Signs Sports Betting Tax Hike Into Law (Covers): “Among other pieces of legislation, Maryland Gov. Wes Moore on Tuesday signed into law House Bill 352, the Budget Reconciliation and Financing Act of 2025. In doing so, the governor guaranteed a tax hike for mobile bookmakers in the Old Line State.
The version of H.B. 352 that Moore signed includes an increase in the tax rate for mobile sports wagering licensees, boosting it to 20% from 15%.” And… Bill Increasing Louisiana’s Online Sports Betting Tax Rate Moves Forward (Sports Betting Dime): “The Louisiana House of Representatives yesterday approved Rep. Neil Riser’s (R-20) bill, HB 639, by a 73-15 vote. The legislation calls for an increase to the state’s sports betting tax rate from its original 15% rate to 21.5%.”
As long as tax hikes are minimal and done with more than zero thought, I don’t have a problem with them. But I still argue states shouldn’t be raising taxes willy-nilly while a variety of unregulated or quasi-regulated sports betting options serve the state, in addition to the nationwide sports betting offering from Kalshi that is growing by the day.
HG Vora Releases Investor Presentation Highlighting Need for Shareholder-Led Change at PENN Entertainment (press release): “HG Vora Capital Management, LLC today released a comprehensive presentation highlighting the urgent need for change on the Board of Directors of PENN Entertainment, Inc. at the Company’s 2025 Annual Meeting of Shareholders to be held on June 17, 2025.”
There is still a month until the meeting happens and it seems like mud is being flung almost every day.
You can see the full presentation here — more than a hundred pages! Not shockingly, it paints a very poor picture of Penn’s interactive division. Whoever put this together seemingly really enjoyed themselves. Some highlights (or lowlights):
A shoutout to the Closing Line:
And probably my favorite slide:
UNLV Launches Landmark AI Research Hub Collaboration with ROGA Joining as Founding Member (press release): “Today, the University of Nevada, Las Vegas (UNLV) International Gaming Institute announced the Responsible Online Gaming Association (ROGA) as a founding member of its AI Research Hub (AiR Hub) – a groundbreaking initiative that marks a significant step toward leveraging artificial intelligence (AI) to support players and identify advanced responsible gaming practices. AiR Hub will serve as a central focal point for cutting-edge research, focusing on producing research projects and insights across gaming’s full breadth of AI use cases, with a goal of informing best practices for responsible gaming in the age of AI. AiR Hub aims to be the industry’s ecosystem for AI research and serve as a catalyst for accelerating the adoption of trusted and responsible AI in the field. Outputs from this initiative will also address the growing interest from policymakers regarding AI’s role across the sector and its increasing adoption to support risk identification and responsible gaming. ‘ROGA is committed to innovative responsible gaming solutions that support players and help ensure their gaming experience remains fun and recreational. AI can help us to proactively identify ways to strengthen these programs, including increasing engagement with responsible gaming resources by personalizing tools that will resonate with each individual player,’ said ROGA Executive Director Dr. Jennifer Shatley. ‘Our collaboration with UNLV’s International Gaming Institute will provide the critical research and insights necessary to develop evidence-based strategies for these exciting advancements in responsible gaming.’”
It might be recency bias, but it feels like there is actual progress being made on the RG front in recent months.
Tennessee SWC Sends Cease and Desist Letter to Illegal Sportsbook BetOnline (press release): “The Sports Wagering Council (SWC) issued a cease and desist letter to illegal offshore sportsbook BetOnline demanding it shut down operations in Tennessee. BetOnline is operating within the borders of Tennessee in violation of the Tennessee Sports Gaming Act unlawfully accepting wagers without a license, and the sportsbook has until June 16 to comply. Eliminating illegal sportsbooks from Tennessee is a primary focus of the SWC with its mission to protect the public interest through a safe and regulated sports betting environment. During April and May, the SWC has issued $200,000 total in fines to BUSR, BetUS, MyBookie, and Xbet, and in November 2024 the illegal offshore book Bovada shut down in Tennessee after the SWC issued it $50,000 in fines. In April, the SWC issued cease and desist letters to illegal offshore sportsbooks Sportsbetting.ag and Lowvig.”
“Shuttering illegal sportsbooks will benefit the legalized market, our licensed operators and the public good in Tennessee, but illegal offshore sportsbooks are not going to go away easily,” SWC Executive Director Mary Beth Thomas said. “We envision a Tennessee where all sports wagers are legal, and we’re working closely with our network of law enforcement at the state and federal levels to make that vision a reality.”
Better late than never. Every regulator with this type of power should be doing its best to make sure only regulated operators are serving their states.
Should sports gambling still keep Pete Rose out of the Hall of Fame? (The Washington Post): “Pete Rose didn’t live to see himself removed from baseball’s banned list. Neither did ‘Shoeless’ Joe Jackson. But Major League Baseball Commissioner Rob Manfred lifted the ban on both players last week, along with a slew of others, under pressure from President Donald Trump. Their reinstatement also means that a committee will now decide if they belong in the Hall of Fame. The rest of us have opinions, too — and that’s why there are columnists! Joining me now are two of the very best on this topic, The Post’s Sally Jenkins and Will Leitch.”
As Ippei Mizuhara prepares for prison, report suggests illegal sports betting in Japan has been surging (iGB): “Nearly three months after his initial reporting date for crimes related to sports betting, Ippei Mizuhara is to surrender to federal authorities in June to begin a 57-month prison sentence. … Back in Japan, where baseball is the national pastime, the rate of illegal sports gambling apparently has been soaring. Last year, citizens of Japan placed approximately ¥6.45 trillion ($44.6 billion) in overseas sports wagers even though the sites are illegal, according to a report from the nation’s Council for Sports Ecosystem Promotion. While the market has grown considerably, arrests for gambling-related offences are still minimal, according to the CSEP, which on 14 May published findings of a comprehensive investigation.”
Fanatics Sportsbook Partners with New York Racing Team for Two NASCAR Cup Series Events (press release): “Today, New York Racing Team announced a partnership with Fanatics Sportsbook to become the primary sponsor of the team’s No. 44 Chevrolet, driven by star driver J.J. Yeley for two of the NASCAR Cup Series’ most prestigious races - the Cracker Barrel 400 at Nashville Superspeedway and the NASCAR Cup Series Championship Race at Phoenix Raceway. The Fanatics Sportsbook No. 44 Chevrolet will take to the track - first in Music City on Sunday, June 1 and next in The Valley on Sunday, November 2 - decked in the company’s signature Lava Red and Black paint scheme and adorned with the Fanatics Sportsbook logo on the hood and sides of the car. ‘We are proud to partner with John Cohen and the New York Racing Team,’ said Selena Kalvaria, CMO of Fanatics Betting and Gaming. ‘The partnership with New York Racing Team is an incredible branding opportunity and an inflection point for us as we continue to build the fastest growing sportsbook in America.’
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