Business
August 9, 2022
DraftKings Finally Cuts Back on Heavy Ad Spending to Focus on Profits
In February, Boston-based online gaming and sports entertainment company DraftKings expressed its plans to grow its market share for the remainder of the year. Accordingly, its ad spending budget was beefed up considerably during the first quarter. At the end of May, the company signed a multi-market agreement with High 5 Games to strengthen its […]
Business
August 9, 2022
AGS Posts Strong Q2 2022 Results
American Gaming Systems (AGS) has reported that recent investments in key teams have greatly contributed to the company’s rising revenues. The company closed the second quarter of 2022 with 14.6% higher revenues. A Positive Net Income for the First Time in 10 Quarters The gaming experiences provider earned $76.6 million for the period. This number […]
Legal
August 9, 2022
PredictIt Loses USA License, Closes Shop in February
The US Commodity Futures Trading Commission (CFTC) announced on 4 August that PredictIt, the website offering wagers on the outcome of political events, would no longer be able to operate in the country. The platform must completely withdraw from the USA by February 2023. PredictIt Started as a University Research Project The CFTC did not […]
Lottery
August 8, 2022
Treasurer Encourages Legislators to Legalize Online Massachusetts Lottery
On August 1, the Massachusetts House and Senate passed the new bill that would legalize sports gambling in the state’s casinos. The online sports betting vertical was also given the green light by state legislators a few weeks ago. However, things are not looking as promising for the iLottery vertical. At least, not anymore. iLottery […]
Sports
August 8, 2022
DraftKings Unveils Promotions for Kansas Launch
DraftKings, an American daily fantasy sports contest and sports betting company, is preparing for the launch of sports betting in Kansas. The state’s government recently legalized the betting vertical but is yet to launch it officially. The state decided to allow a total of 12 sportsbooks to operate locally and pay a 10% tax. In […]
Business
August 8, 2022
DraftKings’ Q2 revenue rises 57% compared to 2021
Gambling giant DraftKings released the official report on its second-quarter earnings. The company’s revenue and EBITDA exceeded expectations, improving its overall financial forecast for the remainder of the year. DraftKings stocks reacted positively to the news and jumped by nearly 10%. Earnings Exceeded Previous Estimates The gaming operator recorded revenue of $466 million for the […]
Poker
August 5, 2022
WSOP Online 2022 to Keep Poker Players Engaged after WSOP
The world’s richest, most prestigious and longest-running poker brand, The World Series of Poker (WSOP), announced the return of its WSOP Online poker tournament series will mark the tournament’s third year. WSOP Action to Continue Online The WSOP Online 2022 online-only series will take place across WSOP.com in the US and WSOP’s partner GGPoker for […]
Casino
August 5, 2022
Shoalwater Bay Tribe Challenges Maverick Gaming’s Washington Lawsuit
The Shoalwater Bay Indian Tribe appealed to the Washington federal court regarding operator Maverick Gaming’s push to allow sports betting outside tribal venues. Tribe representatives declared that Maverick’s lawsuit directly attacked the tribes and urged the court to dismiss it. Maverick Seeks to Match Tribal Venues The catalyst for this dispute was a legal challenge […]
Poker
August 5, 2022
UFC Fighter Colby Covington Wins First Poker Trophy
The famous MMA fighter, Colby Covington, won his first poker trophy earlier this week. Colby Covington Wins Tournament, Takes Home First Poker Trophy Covington entered Event 22 at the 2022 Seminole Hard Rock Poker Open taking place at the Seminole Hard Rock Hotel and Casino in Hollywood, Florida. The $1,100 Pot-Limit Omaha 8 event attracted […]
Business
August 5, 2022
Rush Street Reveals Q2 Results, Shows Improvement in Revenue
Rush Street Interactive has reported that its second-quarter in 2022 also resulted in a net loss. The Q2 results state that the company’s net loss is $28.3 million and even though revenue has risen 17% YoY (from $122.8 million to $143.7 million), the cost of advertising and promotions rose by 20% as well. The Second […]
