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Gambling Stock Roundup: Macau Gambling Sales Impress, PENN & PNK Buyout Okayed, PlayAGS Seals Deal With GVC Holdings

Zacks Investment Research Recap of http://pokeronlinekjm.sojournals.com the Week’s Most Important Stories Macau’s Gambling Revenues Continues to Increase Gambling revenues from Macau increased 17% to 26.6 billion patacas ($3.3 billion) in August. The metric also surpassed the analyst’s expectation. Although gambling revenues were up for the 25nd straight months, it still remains below the highest level achieved in 2012. A tough operating environment in Macau weighed on casino stocks from June 2014 to most part of 2016. In fact, the crackdown on corruption in China compelled Macau officials to impose restrictions on high rollers to stop billions of dollars from being siphoned off illegally from mainland China to Macau.

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Legalized gambling could have major implications for esports

The scene of the finals for the NA LCS spring finals. To help ensure the integrity of esports, expect government regulators and game developers to focus on mitigating underage esports gambling, cybersecurity breaches and cheating in esports. Soon after such laws and regulation are in place, now-existing online sports gambling providers (e.g., DraftKings , which is expected to begin to offer such betting on the massively popular esports game Fortnight) will experience a wave of revenue from esports gambling. http://pokeronlinebm6.justaboutblogs.com However, new competitors will emerge offering esports gambling, each fighting for its share of growing revenue. The classification of esports in gambling legalization legislation can determine the legality, type of government oversight, and taxation of esports gambling. Nevada classifies esports as “ other events ,” which is intended to include other non-traditional events, such as the World Series of Poker. States must determine whether esports gambling is classified as a “sport” and treated the same way as major traditional sports leagues (e.g., the National Football League) or as an “other event,” with unique esport-specific regulations and gambling restrictions. Some states may first legalize the more established esports leagues, such as the Overwatch League or League of Legends North American League Championship Series, before allowing widespread betting on esports. Regardless of the initial classification, the popularity of and potential tax revenues from legal esports gambling likely will drive forward-thinking states to explicitly include esports in their sports betting legislation. Other states may be hesitant to legalize esports gambling without restriction because of esports’ integrity problems, which include underage gambling, match-fixing, and use of performance enhancing drugs (PEDs). For example, New Jersey recently excluded esports from its sports gambling legalization legislation until esports leagues can prove that all participants are adults.

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