Analysis

Indiana extends emergency sports betting regulation

The Indiana Gaming Commission has unanimously approved an extension of the emergency sports betting regulations.

Gaming consumers in Indiana will be able to continue betting until next August after the Indiana Gaming Commission voted this week to extend the emergency sports betting rules.

The move will allow legislators more time to craft the final regulations for sports betting in the state.

It means that betting will continue at the state’s 13 casinos and racinos and at off-track betting locales. Each licensed operator can have up to three skins.

Holding position

The extension will help maintain Indiana’s strong fourth-place showing on the Wedge Index of gaming-friendliness.

Recent data from the Commission showed that sports betting hit another record in October. Handle increased by 11% to $231m.

East Chicago’s Ameristar Casino and DraftKings led the way with $97m of handle, followed by Michigan City’s Blue Chip Casino and FanDuel with $66m.

PointsBet and BetRivers are also active in Indiana although they somewhat trail the market leaders.

Making a Spectacle

Separately, it has been reported the IGC is investigating the situation surrounding the Spectacle land-based casino in Gary, Indiana.

The investigation is now looking at more than 10 people involved in the Spectacle’s activities, including John Keeler, the former lawmaker and casino executive.

IGC Executive Director Sara Gonso Tait told commissioners that the individuals are now being considered for possible revocation of gaming licenses. Such a move would nix Spectacle’s plans. 

Tait said “the scope of our review covers failures to disclose, improper utilization of funds, and improper accounting practices.” 

The IGC is also looking into “failures to act within the occupational licensure parameters.”

Gaming commissioners said they expected to see a plan from Spectacle within the next 30 days if the company wants to keep its gaming licenses. 

Sale delay

Lastly, the IGC has also extended the deadline for Caesars to offload its Horseshoe casino in Hammond. The sale was ordered after the Eldorado reverse merger, when the company agreed to sell three of its five casinos in the state.

The IGC cited the continuing uncertainties caused by the current Covid-19 situation.

Caesars has already sold the Tropicana Casino, Evansville, to Gaming and Leisure Properties and Bally’s Corporation for $480m in October. 

Negotiations continue over the sale of its Southern Indiana casino to the Eastern Band of Cherokee Indians in North Carolina

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Scott Longley

Scott Longley has been a journalist since the early noughties covering personal finance, sport and the gambling industry. He has worked for a number of publications including Investor's Week, Bloomberg Money, Football First, EGR and GamblingCompliance.com. He now writes for online and print titles across a wide range of sectors.

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