Spin Cycle: Sherwood Forest Sportsbook, Another Bovada Be-Gone Highlight Week In Gambling

Welcome to “Spin Cycle,” Casino Reports’ weekly Friday roundup of all things impactful, intriguing, impressive, or idiotic in the gambling industry. Pull up a chair, grab a stack of chips and a glass of your beverage of choice, and take a spin with us through this week’s news cycle …

Robinhood sports betting coming?

It wasn’t the most revealing quote, but the media was all too happy to run with it anyway. At Robinhood Markets Inc.’s investor day event on Wednesday, CEO Vlad Tenev said of the possibility of the electronic stock trading platform expanding into sports betting, “We’re keenly looking into that space. Nothing to announce just yet, but it’s so important to our customers and in culture that we’re excited about it.”

If Robinhood does indeed get into sports betting, it won’t be as a traditional player-vs.-house sportsbook. It would be a peer-to-peer betting exchange, much like Sporttrade — and much like the various operators that took “bets” on the November elections, like Kalshi and PredictIt (and, at the last minute, Robinhood).

Even though exchange wagering hasn’t made a big dent in the U.S. market to this point, the Tenev quote did cause some ripples on the stock market. Robinhood’s stock rose 3.5% on Wednesday, while PENN Entertainment (ESPN Bet), Flutter (FanDuel) and DraftKings all initially dipped slightly.

Arizona latest to bounce Bovada

The offshore gaming operator Bovada is in danger of running out of states in the U.S. where it can reach customers. We’re now up to 17 jurisdictions that have sent cease-and-desist letters with the release Wednesday from the Arizona Department of Gaming that it had told Bovada to scram.

“The operation of Bovada in Arizona is alleged to be a felony criminal enterprise and Bovada has been directed to desist from any future illegal gambling operations or activities of any type in Arizona,” the press release read.

Arizona declared that Bovada’s parent company, Harp Media B.V., is in violation of at least three state gaming laws, including promotion of gambling, illegal control of an enterprise, and money laundering.

Bovada has already added Arizona to its list of restricted-access states.

Each of the states that has banned Bovada has legalized and regulated some form of online gambling within its borders.

Meet the new boss(es)

It’s been a bumpy run for Resorts World Las Vegas, what with the Nevada Gaming Control Board filing a complaint against the property for allowing illegal activities and with former President Scott Sibella mired in his own scandal. Understandably, the Strip casino has decided to make some changes at the top.

The Resorts World parent company Genting announced Thursday that former longtime MGM CEO and Chairman Jim Murren will now be chairman of a four-person board overseeing the three-year-old resort, with A.G. Burnett, Michelle DiTondo, and Kong Han Tan comprising the rest of the board. Alex Dixon is the new CEO of the property.

“With over 40 years of collective experience in the global gaming and hospitality industry, we are confident that Alex and Jim, alongside the board, will help drive the company forward in pursuing our strategic goals for years to come,” said Genting Chairman K.T. Lim.

A big stack of poker news

There were too many poker-related headlines and news releases this week to cover them all in depth, so here’s a trio of quick hitters:

• Longtime poker pro and one-time World Series of Poker bracelet winner Cory Zeidman pleaded guilty Wednesday in connection with selling sports betting tips based on false inside information and faces up to 20 years in prison and $3.6 million in restitution and fines. (Full disclosure: When I was editor-in-chief of All In magazine, Zeidman was a freelance columnist for me. I never sought Cory’s sports betting advice, thankfully.)
• West Virginia legalized online poker in 2019, but no sites have launched yet in the state. In a new interview with Poker Industry Pro, West Virginia Lottery Director John Myers went out of his way to remind operators that the state is open for business. “We are ready when they are,” Myers said.
• Streaming network PokerGO has launched a new “social poker and casino gaming” site, PlayPokerGO, in partnership with CaptivePlay LLC. It’s a revamp of a platform previously known as PokerAllDay. “We’re thrilled to launch PlayPokerGO as part of our mission to bring poker enthusiasts closer to the game they love,” PokerGO President Mori Eskandani said in a press release.

House Rules: Insights from around our network

YIN AND YANG: On Andrew Yang’s gambling problem [by Jeff Edelstein]

TEXAS-SIZED POCKETS: Miriam Adelson continues mega-donor push for casino legislation [by Erik Gibbs]

YOU SAY TAMAYO … : WSOP cracks down on ‘electronic assistance and coaching’ with new rules [by Eric Raskin]

HOW DO YOU LIKE THEM APPLES?: Detailed report shows productivity of New England lottery sales [by Erik Gibbs]

BABY STEPS: Live dealer seems like a smart way to introduce states to iCasino [by Jeff Edelstein]

GEORGIA ON MY MIND: Georgia Sen. Beach: State stance on sports betting may cost millions [by Erik Gibbs]

SOMETHING OF AN OUTLIER: Outlier’s big pivot, from social sports talk app to betting analytics powerhouse [by Jeff Edelstein]

WHO DONE IT: World Health Organization raises global alarm on responsible gambling [by Erik Gibbs]

NEW HAMPSHIRE HAMPERED: Why New Hampshire’s online casino hopes just went ice cold [by Matthew Bain]

START SWEEPIN’ THE STAKES … : VGW faces RICO lawsuit in New York amid expanding legal challenges [by Erik Gibbs]

LOSING MY RELIGION: The day I bet against God and lost a $30 million lottery jackpot [by Jeff Edelstein]

The Shuffle: Other news and views

PATERNITY SUIT: Former DraftKings engineer sues company over alleged parental leave violations [SBC Americas]

LONG ISLAND SOUND:  Public-comment period for Las Vegas Sands NY casino project opens after legislature approves environmental plan [iGaming Business]

INTO THE VOID: Nevada sportsbooks granted greater authority to void winning wagers [CDC Gaming Reports]

CLEVELAND ROBS: Former poker room dealer accused of stealing from the pot at JACK Cleveland Casino [Cleveland.com]

BRISTOL CLEAR: Hard Rock Hotel & Casino Bristol shares opening weekend numbers [WJHL.com]

CHANGE OF SCENERY: Fernandez resigns from Aristocrat to head IGT/Everi [iGaming Business]

DIGITAL OVERLORDS: Door opens to potential predatory behavior as sportsbooks implement AI [Tucson Sentinel]

THE SHAME GAME: Rival union official says Atlantic City casino union boss should resign for opposing a smoking ban [Associated Press]

ACROSS THE FINISH LINE: Accel Entertainment completes acquisition of Fairmount Park Racetrack and FanDuel Sportsbook [CDC Gaming Reports]

SIN CITY SOCIAL: Meet the social media influencers who are shaping the world’s view of Las Vegas [Las Vegas Review-Journal]

The Bonus Round

Completing the Spin Cycle with some odds and ends and our favorite social media posts of the week:

• There’s a lot of focus in our industry on the 18-29 demo, or the 35-54 demo, but hardly anyone ever talks about the 100+ demo. The Boston Globe wrote recently about Rose Thompson from Pawtucket, Rhode Island, who just celebrated her 100th birthday and credits her longevity to playing poker. (By the way, to answer your question before you can ask it: Yes, my 79-year-old mother who is originally from Rhode Island sent me this link. At least she didn’t clip the story out of a physical newspaper and mail it to me.) 

• Nevada reported its October revenue figures, and they were down for the fourth straight October, which is not great news for the gambling business, obviously. But at least the news prompted a top-notch snarky LinkedIn post, aimed at the cannibalism crowd, from West Virginia politician Shawn Fluharty: “The narrative has been that any decline is attributable to iGaming so how are we quantifying this one when Nevada does not have a full iGaming market? You mean to tell me there are other factors at play? Surely not.”

• Fanatics announced details this week of its 2025 Fanatics Fest — not specifically a gambling-oriented event, but it’s intrinsically gambling-adjacent given Fanatics’ presence in the sports betting and casino spaces. It’s scheduled for June 20-25 at the Javits Center in New York City, and a trailer has dropped:

• This news from the Las Vegas Review-Journal Wednesday definitely warrants the “wide-open cartoon eyes” emoji: Clark County commissioners have given the go-ahead to a new project that includes an “18,000-seat NBA-ready arena.” Methinks an expansion team is coming to Sin City. Name suggestion: the Las Vegas Dimes. (Hey, there are no bad ideas in a brainstorm.)

• And, ending on a contemplative note: