December 11, 2024 – FairOdds Network

December 11, 2024

FanDuel adds legislative and regulatory specialists to government relations team

FanDuel today (11 December) added two new executives to its government relations team while BetMGM announced a new chief marketing officer on 9 December.

FanDuel continued to expand its government relations team today (11 December) with the additions of James Hartmann and Louis Trombetta. The pair bring diverse backgrounds to the ever-burgeoning department, which now not only monitors and works with state legislatures, but also in Indian Country.

Hartmann brings a legal background. He was a prosecutor in Chicago and New York City before shifting into politics. In Illinois, he was the lead house gaming attorney. Hartmann was heavily involved in crafting the legislation that led to the legalisation of sports betting in Illinois in 2019.

Trombetta was the first executive director of the Florida Gaming Commission. He oversaw the build-out of the commission and the regulatory process and set state legislative priorities.

Since tribes in California in 2022 killed a commercial sports be..

December 11, 2024

Super Group raises full-year revenue guidance to €1.6 billion

Super Group, the parent company of Betway, has increased its full-year revenue guidance by 3.2% following a “strong” performance in the first two months of the fourth quarter.

Revenue at Super Group for the 12 months to 31 December 2024 is expected to reach €1.6 billion (£1.32 billion/$1.68 billion), the operator announced today (11 December). The group previously forecasted a full-year revenue of €1.55 billion.

In addition, adjusted EBITDA, excluding the US, is on track to hit €360 million in 2024, 4.3% above its earlier guidance of €345 million. Super Group is expected to publish its full-year results in March or April next year.

The group’s favourable performance in Q4 is the reason behind its increased forecast. Both October and November were “strong” months for the business, it said, although it did not provide any additional context.

CEO Neal Menashe said he is “proud” to be in the position to increase guidance and pay an extra dividend. He said Super Group will seek to buil..

December 11, 2024

Illinois FY24 gambling report: Tax revenue over $2 billion, but casinos not key drivers

Data from the fiscal year 2024 edition of the Wagering in Illinois report from the legislature's Commission on Government Forecasting and Accountability showed that the state's gaming industry generated a record $2.08 billion (£1.62 billion/€1.97 billion) in tax revenue in FY24, the most ever for the Prairie State.

According to the report, state tax revenue grew 4.8% year-over-year from $1.99 billion in FY23. Illinois has one of the strongest gaming industries in the US, with casino gaming, video gaming (slot routes), sports betting, horse racing and lottery.

The report covers not just the last fiscal year, but references financial reports dating back to legalisation dates for each genre of gambling.

The commission noted that FY24’s growth was “largely driven by the steady expansion of video gaming, elevated lottery sales and rapid growth in sports wagering”. The first two sectors generated the majority of tax revenues – $886 million from the lottery and $848 million fr..

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Daily Archives: December 11, 2024

FanDuel adds legislative and regulatory specialists to government relations team

Super Group raises full-year revenue guidance to €1.6 billion

Illinois FY24 gambling report: Tax revenue over $2 billion, but casinos not key drivers