Joe Asher’s ‘retirement’ didn’t last long; sports betting executive joins IGT – Northern Nevada Business Weekly

Joe Asher, President of Sports Betting at IGT, at the Global Gaming Expo on Thursday, Oct. 5, 2021, in Las Vegas. Photo: Jeff Scheid / The Nevada Independent

Statewide, sports betting revenue figures and wagering totals during August were both down from a year ago. The advisory firm described August 2020 as a COVID-impacted, on-steroids calendar that tracked well-above the months historical totals.Still, with eight months completed, Nevada sports gamblers have wagered $4.2 billion while sportsbooks have collected $255 million in revenues, the Nevada Gaming Control Board said last week. Both figures are well ahead of 2019s record-setting year of $5.3 billion in wagers and $329.1 million in revenues.Caesars Entertainment, through Caesars Sportsbook, and Circa Sports, which is operated by downtown Las Vegas casino owner Derek Stevens, trended up in their shares of Nevadas sports betting market for 2021.The difference in market share was striking, however. Caesars is the states leader, according to Eilers & Krejcik, with almost 60 percent of sports betting revenue in the state through August. In April, Caesars completed its acquisition of William Hill U.S. and added the companys Nevada locations.Circa has five locations including Stevens three downtown casinos, the off-Strip Tuscany and The Pass Casino in Henderson, It accounted for just 2.6 percent of the overall revenues.The results from BetMGM during August, which is operated by MGM Resorts International, was viewed as flat by the firm. Still, BetMGM is considered Nevadas No. 2 operator, with more than 15 percent of the market.Several operations experienced a decreasing trend, according to the firm, including Wynn Resorts, which operates just a retail sportsbook on the Strip. The company has yet to launch its mobile WynnBet in Nevada.Station Casinos STN Sports, despite having the states third highest market percentage almost 11 percent fell under the declining trend, according to the firm.Eliers & Krejcik Gaming analysts Chris Grove and Chris Krafcik said Nevada is mirroring other sports betting states where three brands have control of the market.(Caesars) massive retail footprint (80-plus locations) remains its key structural advantage in Nevada, where in-person registration is required for online sports betting, the analysts wrote in a research report. The recent share gains at BetMGM reflect a big increase in BetMGMs Nevadas app download activity.Eilers & Krejcik cautioned that it used information from different data providers and proprietary assumptions and it regards these estimates as low-to-medium confidence because of the states lack of transparency into gaming revenues.Meanwhile, sports betting operators are flooding the airwaves to push their products.Caesars told investors in August it will spend more than $1 billion over the next two years nationally to promote its Caesars Sportsbook, including ads featuring Smoove as Caesar. The comedian grew a following through the TV show Curb Your Enthusiasm. BetMGM was one of the first sports betting operators with a national advertising presence through Foxx, an Academy Award-winning actor, as the King of Sportsbooks.Meanwhile, retired NBA superstar ONeal is a brand ambassador for WynnBet and appeared in an online television ad for the product that starred Oscar winner Ben Affleck, who also directed the spot.Station Casinos has been running an advertising campaign on Las Vegas airwaves for its STN Sports app featuring Cutshall, an Instagram comedian.Howard Stutz is a reporter for The Nevada Independent, a 501(c)3 nonprofit news organization. The following people or entities mentioned in this article are financial supporters of The Indy: Caesars Entertainment - $155,200; Station Casinos - $100,000; and IGT - $7,500. Thesestories were first published Oct. 6by The Nevada Independent within its weekly Indy Gaming newsletter and are republished here with permission. Go tonvindy.comfor more Nevada news and go tothenevadaindependent.com/newslettersto sign up for the newsletter.

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Joe Asher's 'retirement' didn't last long; sports betting executive joins IGT - Northern Nevada Business Weekly