DraftKings and FanDuel Merger Tops November’s Gambling Industry News Review
November is officially in the books, which means it’s time to look forward to the Christmas holidays and hopefully a lot of winning via poker and online betting.
While December very possibly has a lot of good in front of us all, it leaves behind a busy month where some interesting gambling industry news went down.
Join us as we look back and re-hash the top casino and gambling news stories that made November so much fun:
Ladbrokes and Coral Merge
The gambling industry got a historic merger this past month, when gambling giants Ladbrokes and Coral hammered out a finalized merger.
The company marriage was actually discussed way back in the summer, but the details didn’t get finalized until early November.
Ladbrokes Coral becomes the biggest retail bookmaker in the United Kingdom, sporting 3,500+ shops. That number beats out William Hill, which is one of the biggest and most respected betting conglomerates around.
The impact of the Ladbrokes Coral merger should also stretch to the online scene, as the newly formed company is expected to be a big player in the online gambling market. The two companies individually already held solid positions in the online game, but together could end up expanding via the web.
DraftKings and FanDuel Merge
We were just getting you ready for the big one, folks. As huge as a Ladbrokes/Coral merger truly was to get November rolling, DraftKings and FanDuel coming together is even bigger.
The daily fantasy sports industry isn’t necessarily gambling, but a lot of money is exchanged and the thrill and entertainment is very much the same.
Regardless, the DFS industry will never be the same once the announced FD/DK merger officially goes live later in 2017.
For now, all we know is that the two biggest daily fantasy sports companies are joining forces, which makes all the little guys look even smaller. It’s unknown just yet what this big DFS merger means for the industry or how the new company will proceed, but it’s an exciting development.
New Jersey Voters Kill Casino Expansion
There was a lot of chatter about potential casino expansion in New Jersey, but that has since quieted down thanks to voters nixing the plans in November.
The vote was to approve two additional New Jersey casinos approximately 72 miles outside of Atlantic City, to promote financial gain in the state. Instead of seeing the upside in more casinos, voters (by nearly 1.5 million) decided the negativity associated with Atlantic City wasn’t worth the potential of added state income.
Extra casinos could combat the stranglehold states around New Jersey have due to lenient gambling laws, while it would also be giving New Jersey residents more gambling options outside of just Atlantic City.
For what it’s worth, there remains some optimism that the Amendment will still be passed at some point in the future.
Donald Trump Shakes Bookies
What’s crazier than The Donald actually winning the 2016 Presidential Election? How about people betting a ton of money on him doing so, and it actually happening.
That is certainly what took place in November, as Donald Trump’s odds to win started our poor, but gradually rose ahead of the election. One gambler posted a $12k bet and immediately was responded with bookies raising Trump’s odds to win.
Ahead of the vote, Trump was still the clear underdog in about every regard. Hillary Clinton was the favorite and did still come away with the popular vote, but Trump still won the race due to garnering more electoral votes.
IRS Targeting Coinbase Users
The age of BitCoin just got a lot more interesting. And depending on how you operate with the online currency, potentially a little more dangerous, as well.
Recently at the close of November, the IRS got approval from a U.S. court to demand the indentities of anyone using coinbase currency.
The goal is for the IRS to locate anyone abusing the currency – specifically those that have not been “complying with U.S. internal revenue laws”.
Japan Again Looking at Casinos
The casino talk is back in Japan. Per reports, lawmakers are once again looking to pass legislation that would make casinos legal in Japan.
Casinos aren’t necessarily coming to Japan anytime soon, but per Bloomberg, steps are finally in place to help promote optimism.
Two major roadblocks still exist, however, with the first bill needed to first make casinos legal in Japan and the other to lay the groundwork for potential develops to set up their strategies.
It may still be a while before we see legalized casinos in Japan, but it looks like the rumors are at least heating up again.
Casinos Eyeing Legalized Sports Betting
The plight to legalize sports betting in America hasn’t been lost on casinos, which are joining forces to make sure legalized sports betting at least is considered by Congress in the near future.
The latest action has reportedly been sparked by President-elect Donald Trump (owner of numerous casinos) set to take over The White House. Once Trump is swarn in, the real push may follow.
The plan may start with the hunt for a reliable voice to lead the charger, with the American Gaming Association hoping to then overturn the anti-sports betting ruling from back in 1992.
Trump hasn’t hidden his take on sports betting, either, stating publicly that he’s “OK’ with it, considering most people who want to gamble are doing it “anyway”.
Trump being in office doesn’t guarantee legalized sports betting across America anytime soon, but it certainly doesn’t hurt the possibility.
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