Gaming America: The Week on Wednesday
The Week on Wednesday: June 14, 2023
Here is what happened in the gaming industry across the Americas in the past week:
New York sports betting revenue up 38% year-over-year for May
The New York State Gaming Commission has released its sports betting figures for May 2023. The report was compiled based on data provided by sportsbooks. In May 2023, mobile sports wagering handle reached $1.35bn, a 7% increase from the reported figures for May 2022. In terms of gross gaming revenue, it was the second-most successful month of the year, as indicated in the chart below. Overall gross gaming revenue for May 2023 reached $151.9m, a 38% rise year-over-year. Read the full article here .
New Jersey bill authorizing online gambling through to 2033 advances
Senator Vince Polistina has proposed a 10-year extension on the authorization of online gambling. The Senate Budget and Appropriations committee has advanced this request. The bill known as S-3075, which supports the use of online gambling by casinos, aims to extend the authorization of online gaming services through to 2033. Online casino gambling was legalized in New Jersey in 2013 and was authorized for a 10-year period, which is set to expire in November 2023. Senator Polistina’s bill, S-3075, revises the existing authorization and extends it for an additional 10-year period, ending in 2033. Read the full article here .
House lawmakers aim to raise taxable threshold of slot winnings with bipartisan bill
A bipartisan bill now aims to raise the tax threshold of slot machine winnings from $1,200 to $5,000. The bill, sponsored by Representative Guy Reschenthaler (R-PA) and Dina Titus (D-NV) is aptly called The Shifting Limits on Thresholds, or ‘SLOT’ Act. This bill would raise the tax-free threshold of slot machine winnings for the first time since 1977. This would account for inflation over the past 45 years, with $5,000 marked as an equivalent level of exemption now. Read the full article here .
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Where is the payments industry headed?
We spoke to Christopher Justice of Pavilion Payments , John Skorick of MIDs , Anne Hay of PayNearMe , Victor Newsom of Everi Holdings Inc. and Mandi Hart of Sightline Payments . The executives discussed the biggest challenges for payments companies, customer loyalty, alternative payments such as crypto, and more. Read the full article here .
Latest GA Huddle interview:
Aubrey Levy, SVP of Marketing & Content at theScore , spoke to us about theScore's sponsorship of the RBC Canadian Open, Hole Zero (where fans can play a full golf hole alongside the pros and win $75,000 if they sink a hole in one) and the operator's goals for the rest of 2023, particularly in Ontario.