Pennsylvania Sports Betting Bill Introduced, Penn State Football Popular at Sportsbooks

Pennsylvania Sports Betting Bill Introduced, Penn State Football Popular at Sportsbooks

A Pennsylvania sports betting bill has been introduced by State Rep. Rob Matzie (D-District 16) that seeks to allow residents in the Keystone State to place financial wagers on sporting outcomes should a federal law be repealed.

James Franklin’s Penn State football team provided large payouts for fans who backed the Nittany Lions last fall, and a Pennsylvania sports betting bill has been introduced to keep those monies inside the Commonwealth.

House Bill 519 would allow the business of accepting wagers on sporting events or on the individual performance of athletes. Traditional Vegas sports betting formats including straight bets, moneylines, parlays, exchange wagering, and pools would all be authorized. However, Matzie’s bill wouldn’t legalize daily fantasy sports.

‘Sports betting is a $400 billion business in the United States,’ Matzie said in a statement. ‘Most of that betting takes place illegally, through bookies and offshore wagering companies. This bill would position Pennsylvania’s casinos to be among the leaders in sports betting as soon as the legal hurdles are removed.’

Those legal hurdles are complex, as sports betting is currently outlawed in all but Nevada. For that to change, a federal statute passed in 1992, the Professional and Amateur Sports Protection Act (PASPA), would need to be repealed by Congress.

Pennsylvania is currently considering a massive gambling expansion packa Continue reading “Pennsylvania Sports Betting Bill Introduced, Penn State Football Popular at Sportsbooks”

MGM Resorts Misses Fourth-Quarter Projections, but Springfield Casino Construction Ahead of Schedule

MGM Resorts Misses Fourth-Quarter Projections, but Springfield Casino Construction Ahead of Schedule

MGM Resorts posted improved fourth-quarter revenues in 2016 compared to the previous year, but the generated income fell far short of projections.

MGM Resorts CEO Jim Murren is encouraged heading in 2017 despite a disappointing fourth quarter for his company.

The Las Vegas-headquartered gaming and hospitality company reported net income of nearly $70 million for the final three months of the year. That translates to four cents per share, a far cry from the analysts’ consensus estimate of 21 cents for the quarter.

Though the company’s new property in Washington, DC, appropriately named National Harbor, brought in big money for MGM, and performance improved at the conglomerate’s 10 venues in Las Vegas and Atlantic City’s Borgata, the convention space underperformed.

Regardless of coming in well under fiscal expectations, CEO Jim Murren painted the earnings data in a rosy light.

‘The achievement of key financial and strategic milestones demonstrates our continued focus on driving profitability,’ Murren said in a release. ‘We are excited about the outlook for 2017.’

Investors on Wall Street don’t normally take the bait, and value numbers over words. Traded on the New York Stock Exchange, shares of MGM Resorts fell as much as nine percent following the financial announcement.

For the complete year, MGM generated a net income of $1.24 billion, or $1.94 per share. That’s a substantial im Continue reading “MGM Resorts Misses Fourth-Quarter Projections, but Springfield Casino Construction Ahead of Schedule”

New Jersey Online Gaming Study Predicts Huge Growth Trend Will Stay in 2017

New Jersey Online Gaming Study Predicts Huge Growth Trend Will Stay in 2017

Nj on the web gaming had its year that is best up to now in 2016, and the future, at least in accordance with one brand new study, will probably be even brighter.

Pennsylvania is expected to think about passing a law that is igaming year, and that would be further good news for New Jersey online gaming, as it could help reverse internet poker’s downward spiral.

Web gaming companies are being told to expect a revenues increase of 17 percent in 2017. International gaming industry research group Eilers & Krejcik says online gambling into the Garden State will reach new highs in the year ahead, regardless of the firm’s forecast that digital poker will decline by six %.

Most useful yet for Atlantic City is their prediction that online play is leading to more bets placed at the remaining seven land-based casinos.

‘Increased integration between the internet and casino that is live become driving additional play and visitation at land-based properties,’ the Eilers & Krejcik research reported.

Good News or Bad News?

While the headline reads nicely for internet casino operators while the state’s tax coffers, 17 percent, while strong growth, would be a slowdown actually in terms of yearly percentage gain.

The nj-new Jersey Division of Gaming Enforcement (DGE) reported internet that is total in 2016 arrived in at $196.7 million. That is nearly $48 million more than the five land-based casinos th Continue reading “New Jersey Online Gaming Study Predicts Huge Growth Trend Will Stay in 2017”

Brand New Hampshire Online Pokies Free Money Casino Effort Sees Help from Full Senate

Construction work is slated to begin early in the quarter that is second of 12 months. Lou D’Allesandro, SB 242 will now have to be considered by the House, which has a history that is long of casino efforts. GEG revealed it intends to spend as much as $5 billion on the growth of this two phases that are new. But, they would do this at their own risk as there wouldn’t be any free pokies online no downloads regulations to safeguard them from murky iGaming operations.

This would mean that local players would be able to play online and this would not be considered illegal in other words, if the bill is approved in this form. GEG said on Friday that both stages will offer you attractions that are family-friendly well as suitable environment for seminar and exhibition activity. Galaxy Macau was pokies free spins gracing the region that is administrative skyline since 2011, when its first phase had been finally launched after multiple delays. New Hampshire may expand its gambling industry an additional direction, since three home of Representatives members introduced an online gambling bill early this season.

The $80 million is usually to be committed to the first casino, whilst the second is likely to price around $40 million. Brand New Hampshire free pokies download Casino Effort Sees Help from Full Senate

The newest Hampshire Senate authorized week that is last bill that if signed into law, would authorize the construction of two gambling enterprises within the state’s borders. As mentioned above, Phase 3 is expected become finished in 2018 and stage 4 will probably have its ribbon cut sometime in 2020. In most cases, HB 562 will not necessitate the legalization and legislation of Web online pokies free signup bonus gambling options, but only removes said choices through the range of unlawful people.

Sponsored by Sen. Stages 3 and 4 associated with the luxury com Continue reading “Brand New Hampshire Online Pokies Free Money Casino Effort Sees Help from Full Senate”