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February 26, 2025 – FairOdds Network
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Daily Archives: February 26, 2025

February 26, 2025

Gambling tax increases are all the rage, with New Jersey the latest to consider it

New Jersey governor Phil Murphy has plans to spend $58.1 billion this year and he wants to finance some of that by raising sports betting and igaming taxes among other levies.

The proposal, which Murphy shared on Tuesday (25 February), is the latest gambling and sports betting tax increase proposed in the US in the last year. It feels somewhat ironic, in that Murphy’s name is on the lawsuit that overturned the Professional and Amateur Sports Protection Act (PASPA) in 2018. Since then, 38 states have launched some form of sports betting (Missouri is also set to launch later this year), with two of those hiking their original sports betting tax rates.

Murphy proposes hiking both the sports betting and igaming tax rates to 25%, up from 13% and 15%, respectively.

“This tax increase would be a wrong turn for New Jersey,” industry lobbyist Jeremy Kudon countered in a statement on behalf of the Sports Betting Alliance (SBA). “Since New Jersey first launched regulated sports betting seven..

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February 26, 2025

Caesars slips to FY24 net loss, remains confident about digital EBITDA target

Caesars Entertainment reported a net loss during its 2024 financial year after a drop in group revenue, but the gambling giant remains confident of long-term earnings goals for its digital arm after the division reported further growth.

Group revenue for the 12 months through to 31 December 2024 topped $11.2 billion (£8.89 billion/€10.71 billion). This is 2.5% lower than the previous year, according to data published yesterday (25 February) by Caesars.

Caesars attributed this primarily to its Las Vegas and regional segments, with both divisions seeing declines in 2024. Managed and branded revenue was also down, although there was some positive news from the digital segment.

Revenue from the digital business, which comprises igaming and online sports betting, was up 19.5%. This continues an upward trend seen in recent years, but the trajectory was not as high as seen in 2023 (77.6%).

Caesars: Digital EBITDA to reach $500 million in 2025

While digital growth may not have been quite ..

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February 26, 2025

PointsBet board approves MIXI acquisition bid amid rival offer from BlueBet

PointsBet has approved a takeover bid from MIXI Australia via a scheme arrangement which will transfer 100% of PointsBet's shareholding to the Australian arm of Japanese digital entertainment and sports group, MIXI Inc.

If the deal is approved PointsBet shareholders will receive cash consideration of $1.06 per share as part of the deal, which represents a significant premium of 27.7% to PointsBet’s closing price on 25 February. This amounts to around AU$353 million.

This amount also equates to an EV/EBITDA multiple of 25.2x – 32.1x based on PointsBet’s FY25 EBITDA guidance range.

The deal has been unanimously recommended by the board, as published in its half-year financial earnings report on 25 February.

A vote to approve the deal will occur in late May, and the ‘scheme’ is expected to pass and be implemented in mid-June.

MIXI’s Japanese parent company operates a number of sports and digital gaming business arms, including the FC Tokyo football team, horse racing betting..

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