Gaming

Research Brief: State Legislative Update on U.S. Sports Betting & Online Gaming – April 2021

The more things change, the more they stay the same

A year after the start of the Great Shutdown, the gaming and sports worlds are returning. The NCAA Division I Men’s basketball tournament ran its course with no major problems. The Masters is in full bloom in Augusta, and MLB threw its first pitch at the start of this month. This is all occurring while fans are returning to games and events as stadium capacity increases.

Legislative sessions are also in full bloom, with most of these sessions hitting their stride as some deadlines have passed while others are fast approaching. Several states are trying to get sports betting across the finish line before their session expires. Many of these are running into challenges, not just from a timing standpoint but also due to the legislative process. As seen in Georgia, sports betting died because of the voter law and the difference between parties. This is just one example of how legislation can either be changed dramatically, get killed, or die under its own death through the sheer weight of the process of legislation. While the issues may change over time, the same factors can make or break the process and cause well-intentioned groups and caucuses come apart because of other issues.

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Betting on Brazil – The opportunities are plentiful but challenges lie ahead

Betting on Brazil

Latin America continues to present itself as one of the greatest opportunities for gaming expansion. While it is home to a number of existing markets, there continue to be more opportunities for existing and new market players as expansion and reform take place in the Southern Hemisphere.

One of the greatest opportunities in Latin America remains in Brazil, due to its size, scope and potential offerings from both and expansion and reform perspective. However, the market still has its challenges as it considers next steps for lottery, sports betting, integrated resorts, and other potential forms of gaming.

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Research Brief: State Legislative Update on U.S. Sports Betting & Online Gaming – March 2021

March Madness is Upon Us

For the first time in two years, sports fans will be able to wager on the NCAA Division I Men’s basketball tournament.  While the tournament went dark last year because of the Great Shutdown, legal sports betting has expanded significantly across the country since last March.  However, this does not preclude though the office pools that will still take place, especially in jurisdictions that still do not have legal sports wagering.  The NCAA tournament is one of the largest wagering opportunities in the year, in addition to the Super Bowl that took place just over one month ago.

One of the challenges that will be faced those in legal states is the ability to wager on the ‘home team’, as several of these states have banned wagers placed on local teams and contests including college sports taking place in that jurisdiction.  States across the country are looking to provide these same athletes with the ability to profit from their name, image, and likeness (“NIL”) but provide them “cover” when it comes to wagers being placed legal on them.  However, keeping student-athletes off the legal books only allows an illegal market to continue, exposing these athletes to more harms than protections.  For the integrity of the tournament and student-athletes, the best place for any sports wager is in the legal market without restrictions.

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The Return of the Roaring ’20s: As the world recovers from Covid-19, the stage is set for a comeback; will Vegas lead the charge?

The 100-year anniversary of the roaring ’20s is upon us as the world finally begins to look toward new beginnings in a post-pandemic world.  Many have pointed out that the Spanish flu (which preceded the Roaring ’20s) is analogous to Covid-19, presenting a similar potential opportunity for the world to emerge from a pandemic with a new era of historic economic prosperity, which would include a boon to the hospitality, F&B and tourism sectors.

As eager as the world may be to return to “normal” life, it is vitally important that safety and health practices do not give way to pent-up demand and impatience.  Luckily, customers see a light at the end of the tunnel with vaccines being distributed and certain destinations gradually lifting restrictions.  While reintroducing global travel and entertainment will take time, deestination markets around the world will look to regain their share of the soon-to-be-rejuvenated global tourism market.

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Windy City Gaming: Chicago will finally plant its flag for a casino development

Casinos in urban environments, not always the norm, have offered challenges in certain jurisdictions.

Major markets such as Philadelphia have had casinos near downtown for years. Pittsburgh and Detroit also feature casino gaming in downtown settings. The Washington, D.C. market, with MGM National Harbor, has also made an impact. But in recent years, more developers have embraced urban environments to meld properties into the fabric of the greater communities they serve. Two of the more recent examples were in Massachusetts, with MGM Springfield and Encore Boston Harbor.

Some of the greatest opportunities for gaming expansion in the United States remain in urban settings. For years, New York, Atlanta, Miami, Dallas and Houston have been seen as potential expansion sites. But the most immediate opportunity exists in Chicago, which will locate a gaming development within the city itself.

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2020 Trends: Sports Betting

Since the repeal of the Professional and Amateur Sports Protection Act in May 2018, over half of the jurisdictions within the United States have legalized sports betting, and nearly 20 of these jurisdictions are conducting legal sports betting operations today.

Sports betting continues to grow with the emergence of new markets in states such as Tennessee (which launched at the beginning of November), as well as more established jurisdictions such as New Jersey (which is currently at a similar level to Nevada in terms of handle). All the while, new operators and brands are being introduced in the space, and new deals are being announced across the spectrum of sports among operators, teams, leagues, media and other stakeholders.

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2020 Trends: Latin America

The gaming market throughout Latin America continues to emerge. While gaming has been a strong form of entertainment, Latin America can be a mystery to some that have not followed it as closely. Like Asia, it remains one of the great opportunities for expansion in the industry on a wide scale, from sports betting to further development of brick-and-mortar facilities from Mexico to Brazil to Uruguay.

Many of these governments at all levels continue to face challenges as they had relied on gaming as a source of tax revenue prior to the Covid-19 pandemic as revenue is still rebounding. This has further put burdens on governments, as those employed in gaming have also struggled in 2020 with facilities operating under limited function post-shutdown and in some cases will remain closed until the end of 2020.

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2020 Trends: Japan

Like the rest of the world, the development of integrated resorts in Japan has been significantly stalled because of the Covid-19 pandemic. Japan is just beginning to reemerge as it is now starting to allow foreigners back into the country. While many speculated that 2020 would be a robust year for the integrated resorts, it looks like Covid, like the rest of the world, will push IRs back into 2021 as things finally start to move down the road.

Earlier this year, Japan transitioned from Prime Minister Shinzo Abe stepping down for health reasons to the current Prime Minister Yoshihide Suga. Suga, who was Abe’s top lieutenant, has been a strong proponent of the integrated resorts initiative. His ascendancy was the ideal outcome in terms of the succession from Abe. Suga will not be a caretaker prime minister and wants to leave his own stamp over the next year coming into a fresh election next September.

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Peer-To-Peer Esports Sanctioning Organization

Peer-to-peer play is hardly a new concept. It is simply a system which provides the necessary means for competition to take place. Competitions may vary and may involve providing the necessary physical or virtual space to enable the competition to take place, supplying the equipment to facilitate the activity, arranging for both the space and the equipment or neither.

Peer-to-peer play operators would be responsible for the integrity of the competition by certifying that the necessary rules are complied with as well as ensuring that the tournament conditions offer a fully level playing field, proper matchmaking, and no cheating.

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A Sporting Chance

Esports has grabbed the attention of more than just the gaming industry, and for good reason.

The industry’s rapid rise has benefited from numerous omnichannel platforms that allow for unprecedented viewership and engagement from a diverse audience. With the “new abnormal” defined by Covid-19, esports has proven that media consumption is not just about what people can watch on the major networks. Instead, people are turning to streaming platforms like Twitch and YouTube for competitive-based content

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