..

Scientific Games Joins Battle Over Sports Betting

Written by:
Guest
Published on:
Nov/20/2017

ATLANTIC CITY – (Associated Press) - The scramble to become leaders in a U.S. sports-betting market that doesn't even exist yet is heating up.

Las Vegas-based Scientific Games Corp. joined a legal battle against British online betting firm William Hill over Scientific's proposed acquisition of one of the firm's rivals, British-based NYX Gaming.

William Hill threatened to use its stock in NYX Gaming to block its acquisition by Scientific Games.

Scientific Games filed a lawsuit Thursday in Nevada, making many of the same claims against William Hill that NYX did in its own suit filed against the firm a week earlier in New Jersey. Both accuse William Hill of trying to stifle competition, anticipating that the U.S. Supreme Court soon will legalize sports betting in the United States.

The maneuvering takes place as the nation's highest court prepares to hear a case brought by New Jersey that seeks to legalize sports betting. The state is taking aim at a 1992 law that forbids state-authorized sports gambling in all but four states that met a 1991 deadline to legalize it: Delaware, Montana, Nevada, and Oregon. Nevada is the only state to allow single-game wagering.

Scientific Games asserted in its lawsuit that acquiring NYX would increase competition by combining NYX's technology with its own status as "the largest lottery and gaming supplier in the U.S." It said the newly combined company will provide more gambling and entertainment choices for customers, "which is exactly what William Hill fears."

A spokesman for London-based William Hill did not immediately respond to a request for comment Saturday. But in response to NYX's lawsuit last week, the company said it is simply looking out for the interests of its shareholders, and called its proposed restrictions on what the newly merged company can and can't do "perfectly reasonable."

Business/Financial News

The Bitcoin White Paper: Combining and Splitting Value and Privacy

The Bitcoin White Paper: Combining and Splitting Value and Privacy

Dr. Craig S. Wright and Ryan X. Charles continue the video discussions in a series exploring the Bitcoin White Paper line-by-line. The next section tackles the principles of combining and splitting value as well as looking at how privacy relates to Bitcoin.

Coinbase Goes Public, Exposure to Regulatory Danger?

Coinbase Goes Public, Exposure to Regulatory Danger?

Coinbase is making its initial public offering of stock April 14 and this has helped push the price of Bitcoin up to near $64,000 as of Wednesday morning.

Sudan Embraces the Blockchain, Arizona One Step Closer to Sports Betting

Sudan Embraces the Blockchain, Arizona One Step Closer to Sports Betting

The Bitcoin Association and the BSV delegation was welcome by the Sudan government last week in an effort to implement blockchain technology and this week Arizona was well on its way to becoming the next US state to legalize sports betting with only the Governor's signature needed.

Lawsuit Filed Against Dr. Craig Wright "Father of Bitcoin": Not Author of White Paper?

Suit Filed Against Craig Wright "Father of Bitcoin": Not Author of White Paper?

Suit seeks to prove Wright is NOT the rightful founder of Bitcoin, but some would argue we will know otherwise in due time.

Ethereum-based Virtue Poker Gets Malta Clearance

Ethereum-based Virtue Poker Gets Malta Clearance

Ethereum-based startup Virtue Poker plans to conduct an initial DEX offering (IDO). While these types of announcements typically get lost in the crypto waste dump - often where they belong - this one has a little more punch.

Syndicate