NEW YORK, March 16, 2021 /PRNewswire/ -- Last year was crucial for the development of the legal infrastructure for sports betting, and 2021 is shaping up to be no less impactful. Nineteen states will decide whether to legalize sports betting services this year, either through voter referendums or state legislature statutes. According to a report by CNBC, if all nineteen states vote yes, that will more than double the number of states where sports betting is already legal. "This is a big year," said DraftKings CEO Jason Robins in an interview. "We've got about 20 states set to vote on legalization. What percentage of those decide yes - that'll swing things either in a positive or negative direction for us." A major variable that states are expected to take into consideration is the potential tax revenue which will be generated if the legalizations prevail. FansUnite Entertainment Inc. (OTC: FUNFF) (CSE: FANS), fuboTV Inc. (NYSE: FUBO), Boyd Gaming Corporation (NYSE: BYD), Churchill Downs Incorporated (NASDAQ: CHDN), Wynn Resorts, Limited (NASDAQ: WYNN)
Last year, three states had measures on the ballot to legalize sports betting: Maryland, Louisiana and South Dakota. All voted yes. And before the election, Tennessee sports betting became effective. However, the law stipulates that 80% of the tax revenue raised from sports betting in Tennessee will go to help fund education; 15% will be allotted for local government infrastructure projects, and 5% will go towards improving mental health in the state, according to a report by the Martinsville Bulletin.
FansUnite Entertainment Inc. (OTCQB: FUNFF) (CSE: FANS) announced earlier this month breaking news that, "its subsidiaries, Askott Entertainment (Malta) Limited and E.G.G. Ltd., have filed applications for both Business-to-Business ("B2B") and Business-to-Consumer ("B2C") gambling licenses, respectively with the U.K. Gambling Commission ("Gambling Commission").
The U.K. Gambling Commission was set up under the Gambling Act 2005 to regulate commercial gambling in Great Britain in partnership with licensing authorities.
As part of FansUnite's expansion strategy, the Company has applied for a remote gambling software license, which will unlock its suite of betting products to operators in the U.K. online gambling market. In addition, EGG Ltd. has applied for a remote betting license which will permit it to deploy its B2C wagering platforms in the United Kingdom.
These applications represent a critical step for FansUnite to expand its operations to the U.K., a jurisdiction that is considered to be one of the largest gambling markets in the world.
'The U.K. gambling licenses are widely regarded as the gold standard for lawful gaming operations and we are pleased to have formally submitted our application with the commission,' said Scott Burton, Chief Executive Officer of FansUnite. 'The first step to our expansion in the U.K. is to obtain the relevant licenses from the country's Gambling Commission, which will allow us to license our betting solutions as well as operate our B2C betting platforms in the United Kingdom. By doing so, we will be in a position to advance our operations to capture market share in one of the most lucrative online betting markets in the world.'"
For our latest "Buzz on the Street" Show featuring FansUnite Entertainment Inc. recent corporate news, please head over to: https://www.youtube.com/watch?v=aL2CV0ULJeQ
fuboTV Inc. (NYSE: FUBO) announced on March 3rd, it has secured market access agreements for its forthcoming fubo Sportsbook in Indiana and New Jersey through Caesars Entertainment Inc. "We could not be more excited to bring fubo Sportsbook to market in the fourth quarter, and today's market access licenses for Indiana and New Jersey will help us reach even more consumers at launch," said David Gandler, co-founder and CEO, fuboTV.
Boyd Gaming Corporation (NYSE: BYD) and FanDuel Group announced on March 8th, plans to launch Stardust-branded online casinos in New Jersey and Pennsylvania, marking the iconic gaming brand's return to real-money gaming. Keith Smith, President and Chief Executive Officer of Boyd Gaming, said: "For nearly 50 years, the Stardust was one of the most famous casinos on the Las Vegas Strip. And while the resort has been gone for more than a decade, the Stardust brand is still as well-known and popular as ever. We are excited to work with our partners at FanDuel to launch our first real-money online casinos and are confident this legendary brand will give us a significant advantage in connecting with players looking for a distinctive online gaming experience."
Churchill Downs Incorporated (NASDAQ: CHDN) announced on January 5th, it will move to a single brand strategy for its online wagering segment by rebranding the Company's sportsbook and iGaming platform as TwinSpires. "Our TwinSpires brand has consistently delivered over 13 years and is associated with more than a century of wagering experience. That history and heritage offers a unique point of difference in a competitive space," said Bill Mudd, President and Chief Operating Officer of CDI. "We remain focused on building a profitable sports betting and iGaming business that provides our customers with an integrated experience alongside our horse racing wagering platform. The transition to TwinSpires not only generates marketing efficiencies, but also allows us to deliver a more complete overall experience to our growing online wagering customer base."
Wynn Resorts, Limited (NASDAQ: WYNN) through their subsidiary WynnBET, the premier casino and sports betting app from the global leader in luxury hospitality, Wynn Resorts, announced recently that it has been issued a permit for the operation of online sports betting in the Commonwealth of Virginia. The WynnBET mobile app will soon be made available to sports betting enthusiasts for registration and use throughout the state. This marks the tenth state to be added to the growing list of jurisdictions where WynnBET plans to launch.
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