This week in gambling news, after length debate, Massachusetts lawmakers decide to remove their sports betting plan from a new economic development bill. Stocks in major gaming companies rise after New York Gov. Cuomo seriously considers the legalisation of sports betting. iSoftBet has reached an agreement with start-up platform provider The Mill Adventure to integrate their full suite of content and provide them with their Game Aggregation Platform. After eight years of legal setbacks, Germany has begun issuing sports betting licences.
Massachusetts lawmakers put a hold on the sports betting proposal and new casino plans
Sen. Eric Lesser and Senate Ways and Means Chairman Michael Rodrigues have said that they do not want to include a complicated sports betting plan in their new economic development bill. They have also held back on allowing the Gaming Commission to investigate the circumstances surrounding the unissued Massachusetts casino licence.
Sports betting was included in the bill by the Massachusetts House of Representatives but when the bill reached the State Senate it was removed. A lot of arguing was done over who would benefit from the legalisation. They could not decide who to prioritise, casino owners who are licensed for gaming in the state, mobile sports betting operators, pro sports teams, or a combination of the three.
Both sides had a strong argument. Proponents projected sports betting could bring in roughly $25 million a year. While opponents believed that sportsbooks would profit off the working-class made the proposal unpopular in some parts of the Legislature.
Stocks in gaming companies rise as New York Gov. Cuomo looks at the legalisation of sports betting
Companies like DraftKings and MGM have seen their stocks rise on the New York Stock Exchange after New York Gov. Cuomo inches closer to the legalisation of sports betting.
After the state’s budget was significantly impacted by COVID-19, Cuomo has been looking for ways to improve and shore up the finances for the new year. In a statement he made to the Daily News, he said:
“New York has the potential to be the largest sports wagering market in the United States, and by legalizing online sports betting we aim to keep millions of dollars in tax revenue here at home, which will only strengthen our ability to rebuild from the COVID-19 crisis.”
This news buoyed the stocks of many large gambling companies, but they quickly flattened out after Cuomo clarified that he was leaning towards allowing online sports betting through its lottery system rather than casinos.
Puerto Rico sports and esports betting bill sets up new betting legislation
Outgoing Governor of Puerto Rico Wanda Vázquez Garced has signed into law a new senate bill. It is Senate Bill 1534 which paves the way for the activation of sports betting and esports in the country. This is one of the last bills to be signed by the outgoing Governor before she stepped down after 16 months as the head of the government.
The bill is basically an amendment of the current Gambling Law that was put in place on June 29, 2019. It was titled “Law of the Gambling Commission of the Government of Puerto Rico” and its aim was to “allow new industries and businesses to create jobs” and “create new sources of revenue to sustain government programs and essential services.”
Since this is one of the last bills signed by the outgoing Governor and the project is still going through its regulatory process, the new government of Pedro Pierluisi will be in charge of implementing the law and activating these industries.
Germany has issued sports betting licences after eight years of legal setbacks and delays
After eight years of legal setbacks and delays, Germany has issued sports betting licences and begun the transition period for online casinos. Despite delays and years of uncertainty, progress is being made.
Despite progress being made, things are stalling yet again. Slot stakes were capped at €1, with the €1,000 blanket deposit cap included in the Glücksspielneuregulierungsstaatsvertrag carrying over. Table games will have to be kept separate from slots and poker.
Under the GlüNeuRStV, states can issue as many table games licences as they have actual in-person casinos. This means that many states will only be able to issue a single licence.
iSoftBet signs deal with The Mill Adventure to integrate its complete content suite and Game Aggregation Platform
The leading online games supplier and content aggregator, iSoftBet, has reached an agreement with start-up platform provider The Mill Adventure to integrate their full suite of content and provide them with their Game Aggregation Platform.
This means that The Mill Adventure will be furnished with more than 8,000 titles from 70 leading games studios.
Michael Probert, Chief Commercial Officer at iSoftBet, said:
“It’s great that more players will now be able to enjoy our ever-expanding range of engaging and exciting games through this deal with The Mill Adventure”