Will COVID-19 crisis attract new sources of investment to sports? Is Connecticut going to legalize betting in 2021? Find out more with STATSCORE’s fresh review!
- COVID-19 crisis attracts private-equity investors to sport
- MLB sues insurers over losses related to COVID-19
- NBA hands each franchise $30m
- Will Connecticut legalize sports betting in 2021?
- Scotland reopens betting shops
COVID-19 crisis attracts private-equity investors to sport
The world’s top (and minor) sports leagues have been facing falling revenues due to the COVID-19 crisis.
Deloitte estimates that the English Premier League will lose $670m due to the pandemic. The US major leagues (NFL, MLB, NBA) are also going to see great fall in revenues. Will this situation force sports organizations to consider new sources of investment? Read more
MLB sues insurers over losses related to COVID-19
Major League of Baseball, along with all of its 30 franchises, has sued a group of insurance providers for their alleged refusal to pay claims stemming from the ongoing pandemic.
The league claims that its losses, related to – among other things – unsold tickets, concessions, merchandise sales, and corporate sponsorship, should be covered by the insurance policies. Read more
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NBA hands each franchise $30m
The National Basketball Association will provide each of its teams with $30 million to help them during the pandemic, according to a report in the Sports Business Journal.
The money will come from $900 million the NBA raised from notes issued by the league in the private placement market.
According to Adrian Wojnarowski and Zach Lowe of ESPN, the NBA expects a 40 percent loss in revenue if games will be played all year without fans. The 2020-21 season is set to begin on December 22. Read more
Will Connecticut legalize sports betting in 2021?
Legal sports betting brings undeniable benefits to a growing number of American states. Will Connecticut be among the new ones to join in?
This is something that’s going on all around us, and I think Connecticut should participate. If we found out anything in the course of this horrible COVID cycle, more and more of the world is going virtual, more and more of the world is going online. That’s tele-health and tele-learning, but it’s also iGaming and sports betting. And I don’t think you want Connecticut left behind – said Ned Lamont, Governor of Connecticut. Read more
Scotland reopens hundreds of betting shops
Three weeks ago, about 400 betting shops in Scotland had to close their doors due to the strict COVID-19 restrictions.
Now, as the Scottish government decided to move the 11 affected areas of the country into Level 3 (with less severe restrictions), they are able to reopen.
It’s great news for staff and customers that betting shops can open their doors again. They have introduced a range of anti-Covid measures, including Perspex screens, hand sanitisers and strict social distancing rules, so they are a safe environment for people to work and enjoy a bet. But so have casinos, so they should be able to safely open their doors again as well – said Michael Dugher, Chief Executive of the Betting and Gaming Council (BGC). Read more
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