{"id":31514,"date":"2019-12-23T15:35:57","date_gmt":"2019-12-23T16:35:57","guid":{"rendered":"https:\/\/www.pokerscout.com\/?p=31514"},"modified":"2019-12-23T18:06:43","modified_gmt":"2019-12-23T18:06:43","slug":"playusa-rewind-as-michigan-and-pennsylvania-show-big-wins-steve-wynn-loses-again","status":"publish","type":"post","link":"https:\/\/www.pokerscout.com\/playusa-rewind-as-michigan-and-pennsylvania-show-big-wins-steve-wynn-loses-again\/","title":{"rendered":"PlayUSA Rewind: As Michigan And Pennsylvania Show Big Wins, Steve Wynn Loses Again"},"content":{"rendered":"
\u2018Twas week before Christmas<\/strong>, and all through the nation, sports betting bills passed through state legislation.\u201d<\/p>\n With the swoop of a pen,\u00a0Gov. Gretchen Whitmer\u00a0<\/strong>made wolverines cheer, as the leader in Michigan\u00a0<\/strong>gave legalized wagering the all-clear.<\/p>\n Another state,\u00a0Pennsylvania<\/strong>, hung its stocking with braggadocios care. You would, too, if you took in $1 billion\u00a0<\/strong>over the past year.<\/p>\n Many states and stakeholders have much to boast about. When Christmas day arrives, most will see gifts and joy abound. But one stocking is drooping, nearly touching the floor; with this much coal already for\u00a0Steve Wynn<\/strong>, could it take much more?<\/p>\n End of obligatory holiday poem. Let\u2019s get to the biggest news of last week.<\/p>\n Once again, the week\u2019s biggest news involves Michigan. And fittingly, the week\u2019s biggest news came on a\u00a0Friday<\/strong>.<\/p>\n Whitmer signed off on the\u00a0Lawful Sports Betting Act<\/strong>, among other bills, to officially legalize Michigan sports betting.<\/p>\n In addition to regulated wagering, Michigan saw the legalization of online casinos, online poker and daily fantasy sports. Big day for the Big Mitten. All told, the package of bills became the largest gambling expansion<\/strong> in the state\u2019s history.<\/p>\n As it\u2019s laid out, Michigan\u2019s\u00a0three commercial and 23 tribal casinos<\/strong> would be permitted to pursue sports betting licenses, shelling out a combined\u00a0$150,000<\/strong> for application and licensing. They would also be obligated to pay an\u00a08.4% tax<\/strong> on adjusted gross sports betting receipts; commercial casinos would pay an additional\u00a01.25% tax\u00a0<\/strong>to the city of\u00a0Detroit<\/strong>.<\/p>\n The man who correctly predicted Whitmer would sign off on legislation before Christmas,\u00a0Sen. Curtis Hertel Jr.<\/strong> also told\u00a0Legal Sports Report<\/em> that Michigan could roll out retail sportsbooks in time for\u00a0March Madness<\/strong>.<\/p>\n Pun stretch or not, facts rarely tell lies.<\/p>\n A year after\u00a0Hollywood Casino<\/strong> opened the doors to Pennsylvania\u2019s first retail sportsbook, the Keystone State has exceeded\u00a0$1 billion in handle<\/strong>. Total wagers in\u00a0November\u00a0<\/strong>set a single-month record in Pennsylvania as the public laid down over\u00a0$316 million<\/strong>.<\/p>\n That total actually pushed PA\u2019s lifetime handle to some\u00a0$1.1 billion<\/strong>. And with more operators still expected to join the market, that second billion should come in short order.<\/p>\n The likes of\u00a0FanDuel Sportsbook<\/strong>, a relatively late-comer to the PA party, has taken control of about\u00a036%\u00a0of the marketplace<\/strong>. For perspective,\u00a0Rivers Philadelphia<\/strong> accounts for around\u00a021%\u00a0<\/strong>of wagers placed.<\/p>\n Pennsylvania\u2019s lofty tax rates (a\u00a036%\u00a0<\/strong>take) obviously provides a hit to the wallet of operators. Even so, they still registered\u00a0$75 million in profits<\/strong> during that first year. So, not too shabby.<\/p>\n Nearby\u00a0New Jersey<\/strong> will always remain the standard, especially for Pennsylvania. As\u00a0PlayPennsylvania<\/em> laid out, the Garden State crossed the billion-dollar finish line seven months into operations. But Pennsylvania continues to expand. It boasts\u00a012 retail sportsbooks<\/strong> and\u00a0eight betting apps<\/strong>. But those numbers will surely change in the coming months.<\/p>\n <\/p>\n <\/p>\n The L\u2019s keep piling up for good ol\u2019\u00a0Steve Wynn<\/strong>.<\/p>\nMichigan sports betting is officially a go<\/span><\/h2>\n
Pennsylvania\u2019s sports betting capital? Billa-delphia<\/span><\/h2>\n
Losses abound for casino mogul Steve Wynn<\/span><\/h2>\n