Mobile Sports Betting Added To Budget In New York

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Welcome to the latest edition of "Bet On It," where The Fly looks at news and activity in the sports betting and iGaming space. 

SECTOR NEWS

WynnBET (WYNN) announced a multi-year content marketing and affiliate partnership with technology and digital publishing platform, Minute Media, owner and operator of six global sports and culture brands including The Players' Tribune, FanSided, 90min, and The Big Lead. Under the deal, WynnBET will tap into Minute Media's network of owned brands, media personalities, athlete influencers, and open technology platform to create story-driven content that introduces WynnBET to an average of 60M monthly users in the United States, the company said.

Wynn Resorts also made headlines after CEO Matthew Maddox told CNBC's Jim Cramer that about 60% of Wynn employees have been vaccinated, but the company won't mandate employees receive a Covid-19 vaccine. However, Maddox noted those who choose not to must be tested for the virus weekly. "I don't think it's our job to be mandating vaccines for everybody, but what I am mandating is that we're Covid free in our staff," Maddox said in an interview on "Mad Money."

Fox Corporation (FOX-A, FOX) issued the following response to media reports regarding its legal dispute with Flutter Entertainment (PDYPY): "Fox Corporation has filed suit against Flutter to enforce its rights to acquire an 18.6% ownership interest in FanDuel Group-an American sports betting brand-for the same price that Flutter paid for that interest in December 2020. The suit was filed as an arbitration before JAMS in New York, NY by consent of the parties."

DraftKings (DKNG) announced that it has acquired Blue Ribbon Software, a Tel Aviv-based jackpot and gamification company that provides platform-agnostic, real-time gamification tools that allow for fully customizable jackpot promotions. DraftKings said it will now be able to enhance the customer experience by integrating BlueRibbon's "unique jackpot functionality," including personalized promotions and rewards tailored to the individual customer or jackpots that pay out across DraftKings' various product offerings. 

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William K. 1 month ago Member's comment

Quite interesting and also very disturbing. There was a good reason for restricting gambling before and it is still applicable. But besides the moral issues and consequences there is a financial issue. Every cent of that profit from gambling is money removed from the economy, where it could have been spent on buying goods and services produced by humans working at jobs. That is the ignored problem of even legal gambling, which is that it is taking money away from other segments of the economy. But all that the city government can see is the profit they can grub away from the gambling businesses.

So it appears that the benefits overall are a bit exaggerated.