Impact of State Legislation on Online Gaming in the U.S.

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00:00You mentioned New York, not obviously one of the biggest states, but one of the most significant in

00:04this conversation. And when it's New York and you can bring in Louisiana, Mississippi, some of these

00:11other states that are regularly now sending out these like cease and desist letters and banning

00:18the online gaming and just all that is involved in it sort of muddling up and slowing down the

00:27process, what is next here for some of these, I don't know if swing states would be the right term,

00:33but some of these states that, you know, can certainly, you know, change the conversation

00:38substantially. Yeah, New York, of course, there's nothing to sneeze at with New York City, and it's

00:43a massive market for sports betting operators, which are now legal, of course. But yeah, again,

00:49entering this legislative session, Senator Joseph Adabo was very adamant about, let's figure something

00:56out about these sweepstakes operators. And at the same time, he also introduced online casino

01:01language to legalize, you know, legitimate online casinos. Now, the online casino language, as we

01:06mentioned in Maine, has been slow, you know, that hasn't gotten any legs in New York. But this sweepstakes

01:12operator prohibition bill did gain lots of legs past both the Senate and the General Assembly, and now

01:18we're waiting the governor's signature. And that just was the beginning of a bad week capped by the

01:23California legislation that also included those seasoned assist letters from the Louisiana Gaming

01:30Control Board, which that was 40 of them. And it wasn't just to sweepstakes operators, it was to

01:35offshore sports books, like Bovada and BetUS and things like that. And then another 10 from Mississippi.

01:42And yeah, that's again, just adding to the 16 or more states that have sent seasoned assist letters

01:47to these offshore illegal, essentially illegal operators saying, you know what, this is something

01:52we don't want. And that's, it's interesting, because New York is now the fifth state to see a

01:57legislator pass this prohibition of it. Louisiana was one of those five. Governor Jeff Landry vetoed

02:02it, saying that Louisiana Gaming Control Board has the power to enforce gaming as it is. And that's

02:09when you saw those 40 seasoned assist letters come out. So yeah, this is an interesting market. You're

02:15seeing lots of headwinds against even regulated gaming. So the tightening of these unregulated gaming

02:20operators is not really a surprise.