Things Going From Bad to Worse for DraftKings as Law Firm Investigates GNOG Takeover

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Securities law violations A US class action law firm has announced it is investigating DraftKings’ acquisition of Golden Nugget Online Gaming for the latter’s alleged violation of securities law. Stock Market News took to Twitter December 4 to announce the investigation by the New York-headquartered mergers and acquisitions company, Monteverde & Associates: Investor Alert: The M&A Firm ...

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Missouri Lawmaker Files First US Sports Betting Bill of 2022 Season

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Fresh attempt to legalize betting In the first filing of betting legislation for the US’ 2022 legislative session, Missouri lawmakers have introduced a bill that would legalize online and retail sportsbooks across the state. would tether sportsbooks to riverboat casinos in the state House Bill 1666, filed at the end of last week by Republican Representative ...

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UK Gambling Commission Imposes Settlement Action on Greentube Alderney

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The Gambling Commission in Great Britain has levied a settlement action against Greentube Alderney for money laundering-related violations and social responsibility shortcomings. The NOVOMATIC company holds five license types in the UK and operates Admiralcasino and Bell Fruit Casino there. The Commission began a regulatory review of the operator in December 2020 and found that ...

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Las Vegas Sands Goes After Seminole Tribe in Court Over Florida Gambling Expansion

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Sands claims illegal Seminole interference The legal skirmishes over Florida’s gambling industry continue, this time with groups associated with Las Vegas Sands Corp suing parties acting on behalf of the Seminole Tribe of Florida. The plaintiffs claim that the Tribe, along with organizations working its behalf, is illegally interfering with Sands’ efforts to get a ...

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Ohio Could Get Sports Betting by 2023 as Lawmakers Come to Agreement on Proposal

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Legislative leaders align An Ohio House of Representatives member has announced that he and other legislative leaders have agreed on a proposal that could see legal sports betting launch in the state by 2023. On December 1, Statehouse News Bureau correspondent Andy Chow said Bill Seitz (R-Cincinnati) and other Ohio lawmakers have reached a “conceptual agreement.” Ohio ...

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Golden Nugget’s Parent Company Involved in $8.6bn SPAC Merger Dispute

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Missing the deadline Golden Nugget’s parent company is facing a significant legal headache as it tries to get out of a planned merger with a special purpose acquisition company (SPAC). Fertitta Entertainment agreed in February to merge with the FAST Acquisition SPAC in a deal initially valued at $6.6bn. As a result of this planned merger, ...

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Churchill Downs Mulls Sale of TwinSpires Racing Brand

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Considering its options Churchill Downs is considering selling its TwinSpires Racing brand. As reported by Bloomberg on Thursday, anonymous sources close to the matter have disclosed news of a possible sale of the Kentucky Derby’s official betting partner. Churchill Downs’ share price increased 6% following publication of the news. A sale of the brand could generate ...

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Finnish Committee Eschews Payment Blocking on Constitutional Grounds

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Finland may be moving closer to dashing proposed unfair protections for the state gambling monopoly Veikkaus after the government’s Constitutional Committee determined that blocking payments to gaming operators that aren’t licensed in the country would run afoul of fundamental rights. Veikkaus is a state-run agency and the only entity that is allowed to provide gambling ...

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AGA Boss Describes US Sports Betting Ads Blitz as ‘Unsustainable Arms Race’

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Battle of attrition As US sportsbooks continue their battle of attrition for market share, American Gaming Association (AGA) president Bill Miller has called the escalation of sports betting ads “an unsustainable arms race.” Miller’s comments came on Wednesday during the SBC Summit North America sports betting conference. On Twitter, sports betting industry analyst Alfonso Straffon shared news ...

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