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The Stars Group Buys Sky Betting & Gaming for $4.7 Billion

The Stars Group announced over the weekend that it has acquired Sky Betting & Gaming (SBG) for $ 4.7 billion in combination cash and stock deal. According to The Stars Group in a press release, the addition of Sky will make the company the largest publicly traded online gambling company. The Stars Group is clearly best known as an online poker company, as its name comes from its ownership of PokerStars, the world’s largest online poker room, but this purchase balances the company’s numbers quite nicely. The Stars Group says that if Sky, CrownBet and William Hill Australia (the latter two of which were also recently acquired) were counted in the 2017 financials, poker would make up just 37 percent of The Stars Group’s revenue. An almost equal number – 34 percent – would have come from sportsbook, while 26 percent would have been casino. “The acquisition of Sky Betting

NBA Commissioner Adam Silver Still Wants Sports Betting Legalized in U.S.

As two Senators renew a quest to ban online gambling in the United States, another prominent figure is supporting the all-out national legalization of sports betting. On Monday, NBA Commissioner Adam Silver spoke with ESPN Radio’s Mike Golic and Trey Wingo on the aptly named “Golic and Wingo” show and addressed, in part, his desire to see sports betting finally legalized and regulated on the federal level. Silver has been a proponent of legalized sports betting for a while now, first making his feelings known publicly in a November op-ed in The New York Times, just a few months after he took the helm of the NBA. His attitude is essentially that people like to bet on sports, so might as well let them do it in a relatively safe, regulated environment. In the piece, he talked about how there was “an obvious appetite among sports fans for a safe

Sports Betting Bill Takes First Step in Pennsylvania

When it comes to legal news, the gambling world (or at least the gambling U.S.) has been focused on Pennsylvania this year, as it is expected that online gambling will be legalized in the Commonwealth before the year is up. Sneakily, though, a small move is being made to legalize and regulate sports betting in Pennsylvania, as well. On Tuesday, HB 519, a bill which would do just that, passed the House Gaming Oversight committee by a 13-1 vote. That’s great news, but at the same time, it is a little bit misleading. Even if the bill goes all the way through the House and the Senate and then is signed by the Governor to become law, casinos in Pennsylvania won’t all of a sudden be opening sports books. This excerpt from page 10 of the bill should give a hint as to why: The Secretary of the Commonwealth shall,

U.S. Appeals Court Strikes Down New Jersey Effort to Legalize Sports Betting

The state of New Jersey was dealt a harsh blow in its quest to be able to launch a legal sports betting industry on Tuesday when the twelve judges of the U.S. Third Circuit Court of Appeals in Philadelphia made their en banc ruling that the state’s efforts to legalize sports betting violated federal law. The federal law in question is the Professional and Amateur Sports Protection Act of 1992 (PASPA), which makes sports betting illegal in all but four states: Nevada, Montana, Oregon, and Delaware. That seems like an odd collection of states, to be sure; the four were grandfathered in, as they had some sort of legal gambling for at least ten years before the bill was passed. New Jersey had the option to be grandfathered in as well, but declined, a decision it is now regretting. Of the four states, Nevada is the only one with full-fledged

Twelve Judges to Hear New Jersey Sports Betting Arguments Wednesday

In August 2015, a three-judge appellate court panel ruled against the state of New Jersey in the state’s ongoing push to legalize sports betting. It was nothing new for the Garden State, which has been trying to join an exclusive club of states where sports gambling is actually allowed for several years, but it was disappointing nonetheless. On Wednesday, the state will get another shot at convincing judges in an en banc hearing in front of a twelve judge appellate panel. For a state known for its casino gambling, it does sometimes seem weird that there is no sports betting in New Jersey, but that is the case thanks to the Professional and Amateur Sports Protection Act of 1992 (PASPA). That law made sports betting illegal in every state, except for the four that were grandfathered in: Nevada, Montana, Oregon, and Delaware. Nevada is the only one that has full-fledged