Joining the party
Gaming regulators in Michigan and Tennessee have approved their next round of licenses, permitting more operators to launch sportsbooks and online gaming offerings in the burgeoning markets.
The Michigan Gaming Control Board (MGCB) has authorized online gaming and sports betting licenses for the Little Traverse Bay Band of Odawa Indians. Flutter Entertainment-owned PokerStars, Stars Casino, and FOX Bet all launched in the Wolverine State on Friday through their partnership with the casino operator.
Through an agreement with Detroit’s Greektown Casino, Penn National and Barstool Sports also got approval for the launch of their online casino offering in Michigan. The MGCB authorized the launch, set for Monday at 11am.
In Tennessee, the state’s gaming regulator has approved two more online-only sportsbooks. William Hill and Wynn Sports both received approval from the Tennessee Education Lottery (TEL) on Friday.
Poker gets go ahead in Michigan
Newly licensed FOX Bet, Stars Casino, and PokerStars all fall under the Flutter Entertainment umbrella. In a statement publicizing the launch of PokerStars, FOX Bet CEO Kip Levin noted that customers can create one account for all three apps. He said this allows the operator to “supercharge the experience” for Michigan players.
Two more for Tennessee
Tennessee sports betting launched on November 1 last year after a legislative process of more than 18 months. The state currently has four active online sportsbooks, including DraftKings, FanDuel, BetMGM, and Action 24/7.
new licensees will not launch in time for the Super Bowl on February 7
Wynn Sports and William Hill are yet to launch in Tennessee, despite receiving the state’s latest sports betting licenses on Friday. According to the Associated Press, TEL CEO Rebecca Hargrove confirmed that the new licensees will not launch in time for the Super Bowl on February 7. Churchill Downs, which received a license earlier this year, also indicated it won’t launch its TwinSpires brand in time for the event.
The sports betting market in Tennessee has seen success since its launch, despite only boasting four active operators. Sports betting handle reached $180.9m for the month of December 2020, an increase of 38% from November. Sportsbook revenue was up 5% month-on-month to $13.9m. The state accumulated $3.1m in revenue as a result of the 20% gross revenue tax for sportsbooks.