Matthew Waters

1 week ago | legalsportsreport.com | Matthew Waters

Johnny Hartnett and Carlos Ruisanchez were both elected as new members of the Penn Entertainment board Tuesday morning. The annual meeting has made headlines over the past month as HG Vora fought to get a third person, Bill Clifford, elected to the board. HG Vora’s proxy card, which included Clifford as a third nominee, received “more than 55% of all votes cast” according to the the firm’s post-meeting press release. Penn’s board welcomed the two new directors in a release following the meeting.

1 week ago | legalsportsreport.com | Matthew Waters

BetMGM now expects at least $100 million in EBITDA for 2025 as “strong momentum” from the first quarter has continued into the second. Net revenue growth is “strong” for both online casino and sports betting in the second quarter through June 13, BetMGM said in its market update Monday. The joint venture between Entain and MGM Resorts said that growth is driven by handle growth. Trading so far in the quarter is “broadly consistent” with the 34% net revenue growth seen in the first quarter.

2 weeks ago | legalsportsreport.com | Matthew Waters

The two largest sportsbooks in the US will soon charge Illinois customers for each bet to offset the state’s latest sports betting tax, according to Thursday‘s announcement from DraftKings. DraftKings will charge customers 50 cents per bet, which is identical to FanDuel‘s fee announced Tuesday. After the FanDuel announcement, DraftKings told LSR that the company anticipated taking action. Just like FanDuel, DraftKings will drop the per-bet fee if Illinois eliminates the fee against operators.

2 weeks ago | legalsportsreport.com | Matthew Waters

Genius Sports is now locked up as the exclusive data provider of the NFL through the 2029 season, the company announced Wednesday. New to the partnership includes “certain global digital advertising within BetVision” and digital platforms owned and operated by the NFL. That ad space is available through Genius’ FANHub platform. “The NFL delivers a tremendous platform to accelerate our business, and we are thrilled to extend and grow our strategic partnership,” Genius CEO Mark Locke said.

2 weeks ago | legalsportsreport.com | Matthew Waters

FanDuel announced Tuesday that it will offset the new per-bet sports betting tax from the state of Illinois with a 50-cent fee on each bet. The fee “reflects the significant increase in the cost of operating in Illinois driven by the new Illinois Transaction Fee,” parent company Flutter said in its release. FanDuel’s fee begins July 1, same as the new tax.