Sports Betting-Inside the Numbers: Operators Mid-Term

 

After seeing the reports that Penn Entertainment had a round of layoff wirh members of their ESPNBet team,I decided to look at the mid year numbers for the top operators. Let's see where everyone is positioned as the NFL returns this fall.  These are the market shares of the top operators.                           DraftKings :38%

  FanDuel 36.5%

   BetMGM:7%

   Caesars:5.9%

   ESPNBet 3.2%

   Rush Street Interactive 3%

Comparing these numbers to the 1st quarter of 2024,DraftKings increased by 2.7%.FanDuel decreased by 1.3%.FanDuel'sDraft market share shifted slightly toward DraftKings and Rush Interactive.BetMGM decreased by.3%despite some impressive partnerships. Caesars decreased .6% and ESPNBet dropped 1.5%.

Let's look at the stock prices to see if investors are still confident over the last month of activity. DraftKings fell -6.07% but close today up 0,26%. FanDuel is down -0.6% over the last 30 days but closed today up 0.6%. Public confidence is unchanged.BetMGM was up 8.80% in the last month and closed yesterday up ,15%. The public opinion of the stock is unwavered. Caesars Entertainment was down 5% 30 days ago but closed yesterday up .82%/.Caesars was down $9 6 months ago and $2 a month ago. While the market share declined, the price is going up.Rush Interactive's stock price was in the low teens 6 months ago but has dropped to just under $10 yesterday. The shift in market share did not translate to increasing the stock value. Penn Entertainment and ESPNBet are not trending in the anticipated direction. A stock price that was high as $25 a year ago is now at $18.52 and down .27% yesterday. 

The Outlook: Expect the two market leaders to jockey for the top position as the NFL and NCAA Football returns in September. BetMGM's partnership with Twitter and the expansion of their sports betting service in Washington, D.C.,will  help recoup the .3% loss of the 2nd quarter, I see Rush as a possible acquisition based on a fvorable price. ESPNBet has the advantage of starting this football season off at the inception. By not launching until after week 7 in 2023,they acqiured multiple downloads but were not able to grow the market.A correction is imperative or this media and gaming merger will be short lived.

I encourage you to practice smart responsible gaming and do your homework as you look to invest in the stock market.

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G2E 2019 Instagram Review

If a picture could talk it would share hundreds of words. The following photos are from the G2E in Las Vegas. A slide show of them will appear on Instagram. I attend every year and this was my best social experience of all the previous conferences. That is the direction of the gaming industry. Be prepared to ride the wave. What worked 20 years ago is not resonating with the 35 and under crowd. If you are not sure how to do it just ask me. I'll share what I know. Enjoy the photos.

FanDuel CEO Matt King

CNBC's Contessa Brewer 

Aristocrat launches "Crazy Rich Asians" Slot Machine

Sara Sloan

Gamblit Gaming

Gaming Guy and NHL commissioner Gary Bettman

Walt Fales and Matt Kenagy -Creators of The Linq Sports Book

SBTech Chairman Gavin Issacs

Diversify and expand the game!

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Sports and Business Wagering This Week

If you are looking for the latest in Sports and Business Wagering, you are at the right place. We plan to give you all of the trends and breaking developments that occurred. You will stay current on the hot topics that involve the operators and the people that like to bet on sports. Any state that is proposing Sports Betting will be highlighted. 

The NFL announced that it is partnering with Caesars Entertainment. Caesars will become the official casino that will have rights to NFL trademarks in the United States and the United Kingdom.  The trademarks can not be used in a Caesars Sports Book. The partnership is for casino gaming only.

The big bet of the week was made at Ocean Resort Casino in Atlantic City. Someone put down 300,000 on the Ravens during Wild Card Weekend. That bet was a loser! Four days later ,it was reported that Ocean is looking for a buyer less than a year after a grand opening. Sport Betting alone is not the cure all for a gaming operator. 

In Philly, the opening of the South Philadelphia Turf Club that is owned by Parx Casino, will increase the handle in Pennsylvania. The location is less than a mile from the sports stadium complex that serves as homes for the Phillies. Eagles, Flyers and Sixers. 

Two major players to watch in the casino industry are Kambi and Tangam.  Kambi provides the software and platform for sports betting at Rivers Casino in Pittsburgh, SugarHouse Casino in Philadelphia and the aforementioned Parx. Tangam provides data analysis that help make effective decisions for the casino floor. This information is critical and provides revenue generating suggestions in real time.

                                                  Enjoy the NFL games this weekend!

What to expect from East Coast Gaming Conference 22

The East Coast Gaming Conference is the premiere gaming show in the world. We realize that is a bold statement but the organizers back it up every year! This does not attempt to diminish G2E or GIGse and what they do. But the #ECGC22 packs the trending topics and innovations that impact

the most populated area in the United States into a 30 hour period. This is important to the attendees because they can learn from the top leaders and innovative minds in gaming. Here are the two areas that we are incline to watch closely.

Sports Betting is on everyone's mind. The public has been clamoring for it and the operators are dying to accommodate them. While New Jersey and Delaware have the unique position of being able to take wagers immediately, this monopoly will not last indefinitely. Who comes in after them and what will they do to exemplify themselves other than offer convenience. Sports Betting is the amenity that everyone wants. We are curious to see what states and operators will utilize it properly.

Esports is the other space that requires attention. This is growing and popular with the 30 and under generation. It has operators perplex because it is new to them. It does not fit the business model of casinos that Steve Wynn envision in the 90's and Caesars dominated in the 2000's. Who comes in, embraces the non gaming culture and cultivates that market is the next Steve Wynn and Caesars.

We are honored to provide coverage of this conference for the 5th consecutive year. This year will include videos. Tweets on Twitter and Photos on Instagram. Quotes from the top CEO's. We look forward to seeing you in Atlantic City. You can't afford not to come if you want to make an impact in gaming and casinos. If you can't making it then follow us, 

On the smartresponsiblegaming.com website we have added two tabs that are dedicated to Sports Betting and Esports.

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The Resurgence of Atlantic City

Atlantic City is making a comeback. The interest in the Ten property from investors gives hope that the site,formerly known as Revel, could reopen in some capacity. This would increase the amount of hotel rooms in AC by at least 15% .This makes Atlantic City more appealing to conventions.

This news came on the heals of the announcement that Hard Rock is anticipating opening Memorial Day Weekend of 2018. The most anticipated move in Atlantic City since the opening of Revel.

This is a game changer property that will add excitement to the Boardwalk. The Hard Rock Brand will resonate with the AC market. Look at the beach concerts like Pink and Jimmy Buffett. Hard Rock can bring that same energy nightly. The potential is there to attract a younger customer.

Pink

MGM and Caesars have announced that they will partner on a project in Atlantic City. While no details were release, this is fantastic news. Two gaming industry giants together that will share a vision with an ocean view. We will provide more information in the coming weeks.

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East Coast Gaming Congress - Day Two Recap

Day Two of The East Coast Gaming Congress was insightful because the panels were tackling issues that had the old guard vs. 21st Century thinking. I shuttled between Gender Equality in the Gaming Industry and Atlantic City.. And North Jersey?  They were in adjacent areas so I was able to cover both.

Virginia McDowell

The Gender Equality Panel consisted of Jan Jones Blackhurst,Vice President of  Government Relations at Caesars Entertainment, James Allen, CEO of Hard Rock International and Jane Bokunewicz,Assistant Professor of Tourism Management from Stockton University.  The moderator was the esteemed Virginia McDowell, President  and Board Chair of Global Gaming Women. This session should have been held by itself.  The turnout was light but the message was powerful. Women are underrepresented in management positions and are paid substantially less than their male counterparts. But the message and the numbers do not resonate unless they are heard by everyone. Most of the attendees were women and minorities. The data supports that companies that are diverse do better than one's that are not. Companies that have women in position of leadership are making more money than those where only men are present.

 

The Atlantic City ...And North Jersey panel had the most fireworks. The groups were divided by the trio that wanted a gaming expansion into North Jersey and one that was opposed. The Atlantic City group wants to maintain the momentum that they have by citing the increases in hotel occupancy and revenue over this time two years ago. They feel that casinos in North Jersey would derail that growth.

The North Jersey supporters of Jeff Gural and Paul Fireman, the two primary investors of the proposed Meadowlands and Jersey City project respectively, think that they are going after a market that Atlantic City does not have presently. No happy medium was reached.

 

The Casino Floor of Tomorrow gave a glimpse at what everyone thought the future gaming floor would look like. The consensus of this panel was that while we can't forget about our present customers, we must allocate a percentage of our space that will engage a younger crowd.

Geoff Freeman

Geoff Freeman, President & CEO, American Gaming Association, requested that the gaming industry do 3 things. The industry should expose the problems, see the opportunities and unify the stakeholders. This includes Sports Betting and Daily Fantasy Sports.

Part Two of the Day 2 recap will be on my Facebook and Twitter  mediums.


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Gaming News from Atlantic City

This week ,Atlantic City scored a 3 point shot with the announcement that Revel would be sold to Glenn Straub, the developer from Miami Florida.  Straub said after the hearing he has reached a deal to buy several casinos or former casinos in Atlantic City as part of a $500 million, multi-faceted deal. He said details would be revealed on Saturday, but added, "I've already bought them."
As part of his plans to purchase Revel, Mr. Straub intends to cancel all existing leases and contracts tied to the property, including those with the former tenants and with the operator of the property’s custom-built power plant, its only source of electricity and hot water.
“They have to understand, we can’t have them control our lives,” Mr. Straub told The Wall Street Journal Thursday. Straub's plan is said to include reopening the casino in Revel but on a smaller scale.

Now

A $50 million makeover of The Pier Shops will turn the underperforming beachside mall into an all-American party palace called The Playground, and make it “the music capital of the East Coast,” Philadelphia developer Bart Blatstein announced at a long-awaited press conference Wednesday. This will heighten the interest in Atlantic City will additional music and entertainment venues in the center of the Boardwalk. One way, he said, is that his plans call for providing far more views of the beach, ocean and Boardwalk than currently exist. He added that more restaurants and "high-end shops" are planned in addition to the 14 music venues.

 IN THE FUTURE

The target market will be millennials that are single and under 40.  Blatstein has a proven track record based on his success with Northern Liberties in Philadelphia. Night life similar to the Piazza.

The Stars come out at night

Straub and Blatstein share a view that a renaissance is in order for the struggling resort. The revitalization will have less emphasis on gaming and more on food, beverage and retail. Sounds like a mini Las Vegas East. They still need more hotel rooms and a direct route that consist of rail or air travel.  I would like to see another gaming operator enter the market with a boutique casino style. One that has 200 to 500 rooms with no more  than 1000 slots and 70 tables games, including poker. That operator would also engage an online partner to have an I Gaming presence.

 

  

 

 

 

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