At the 11th Annual Truist Securities GLLR Summit in Boston last week, the buzz surrounding the debut of ESPN Bet dominated conversations among gaming enthusiasts. The anticipation even found its way into the analysis by Truist Securities analyst Barry Jonas, who dedicated a significant portion of his conclave summary to the groundbreaking sports betting app.

Penn Entertainment Celebrates Success as ESPN Bet Emerges in 17 States with 4.9-Star Ratings

ESPN Bet, a joint venture between Penn Entertainment and ESPN, has already gone live in 17 states and provinces, garnering praise for its impressive download metrics, which have surpassed the 2 million mark. Penn Entertainment expressed its satisfaction with the app’s performance, highlighting a stellar 4.9-star rating from online reviews.

Investors are eyeing a 5% market share for ESPN Bet, despite the absence of early financial reports. Jonas observed that early data indicated that Penn was expanding the market, demonstrating an encouraging influx of female players, which he interpreted as a testament to the influence of the ESPN brand.

While the retention of customers remains uncertain, executives at Penn are optimistic, noting increased spending on wagers even as promotional funds dwindle. Despite a challenging November in terms of hold, Jonas observed strong initial wagering volumes and anticipated growth in promotional allocations.

Addressing concerns raised by Jonas, Penn executives assured that issues such as the speed of cash withdrawals and parlay treatment of pushed legs are being actively addressed, with expectations of the application becoming an “industry standard” in the first quarter of the coming year.

ESPN’s Bet Mode Set to Debut for Super Bowl

Looking ahead, ESPN plans to introduce its Bet Mode within the media app in time for the Super Bowl. The long-term vision includes integration with ESPN’s existing fantasy sports app.

The spotlight shifted to New York state, where ESPN Bet aims to secure a pivotal presence. Discussions are underway to acquire an Empire State license from an existing operator, with hopes of approval and entry in the coming year. However, the app faced a setback in Connecticut, losing out on an online license to newcomer Fanatics due to unfortunate timing.

According to an earlier analysis by Chad Beynon from financial services company Macquarie, ESPN Bet is off to a promising start, securing a notable market share in states like Iowa, Maryland, and Indiana. Despite being in its early days and not yet on par with established brands like BetMGM, DraftKings, or FanDuel, ESPN Bet has shown steady growth, posting a 16% increase in average handle in the three outlined states and surpassing 1.1 million downloads in its first week across 17 total states. 

The post ESPN Bet Steals the Spotlight at Boston Gaming Summit appeared first on Keno Wizard.

In a significant breakthrough, unionized workers at Encore Boston Harbor casino in Everett have reached a “tentative agreement” on a new contract with Wynn Resorts, effectively avoiding the scheduled strike set to begin on June 30. 

Union Workers and Wynn Resorts Find Common Ground in Contract Negotiations

The breakthrough was announced on June 29 following an hours-long bargaining session that involved union leaders and representatives from Wynn Resorts. Both parties expressed their satisfaction with the terms of the agreement, which they believe fulfils the workers’ demands for better wages, benefits, and job security.

Boston media outlet WGBH reported that UNITE HERE Local 26 president, Carlos Aramayo, praised the casino’s management for demonstrating leadership by agreeing to a contract that ensures excellent wages and benefits for the resort’s workers. He further expressed relief that a strike would be avoided and emphasized the spirit of partnership that prevailed during the negotiations.

The specific details of the contract remain undisclosed, pending a ratification vote scheduled for June 30. However, the union is optimistic that the agreement achieves its objective of a “five-star contract” with competitive wages and top-notch benefits, surpassing industry standards.

The workers represented by UNITE HERE Local 26 and Teamsters Local 25 encompass a diverse range of roles, from room attendants and cocktail servers to delivery drivers and bar porters. The Encore Boston Harbor casino, owned by Las Vegas-based Wynn Resorts, has been under pressure to reach a new contract since the previous one expired in April. Union leaders had threatened to initiate a 24/7 picket line if an agreement wasn’t reached in time.

Encore Boston Harbor Sets New Standard with Exceptional Compensation and Benefits

Encore Boston Harbor expressed its satisfaction with the outcome, stating that the agreement aligns with the company’s commitment to providing exceptional compensation and benefits, making it one of the most attractive workplaces in Massachusetts’ hospitality industry.

While the contract did not address every issue, it made significant strides in rectifying wage disparities and improving work conditions for employees. With the tentative agreement in place, both Encore Boston Harbor and its dedicated workforce are looking forward to a new chapter of cooperation and harmonious relations, ensuring a better future for all involved parties.

Back in February, Wynn Resorts received approval from the Massachusetts Gaming Commission (MGC) to construct a new building near its Encore Boston Harbor casino, allowing for expanded offerings including sports betting and poker. The decision came after a favorable interpretation of a 2013 casino referendum, allowing authorized gaming on both sides of Route 99. With the recent legalization of sports betting in Massachusetts, Wynn’s expansion plans are seen as a significant step in the growing gambling scene in the state.

The post Encore Boston Harbor Workers and Casino Avert Strike with New Agreement appeared first on Keno Wizard.

What’s going on with the Boston Celtics in the Eastern Conference Finals? They lost two games on their turf, followed by an embarrassing 128-102 loss in the first game played in Miami. Game 4 too is played in Florida and oddsmakers think we could see the Heat win again.

Boston Celtics vs Miami Heat Odds

*Odds taken from bet365 on Monday, May 22, 2023.

When, Where, and How to Watch?

• Place: Kaseya Center in Miami, Florida
• Date: Tuesday, May 23, 2023
• Time: 8:30 PM
• How to Watch: TNT

Miami Heat Playing Incredible Basketball Right Now

Who would’ve thought that the Miami Heat would do so well in the first three games of the Eastern Conference Finals? They entered the series as underdogs, but then totally demolished the Celtics. In the first two games of the series – both played at TD Garden in Boston – Jimmy Butler led the Heat to win.