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Lessons from the Restructuring of an Online Sports Betting Company
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June 12, 2026
Lessons from the Restructuring of an Online Sports Betting Company
By: George Calhoun
The U.S. has seen numerous casino bankruptcies, including, most recently, Maverick Gaming in July 2025. What it has not seen, until now, is the bankruptcy of an online sportsbook. Previously, when companies exited a state, they cut deals with as many creditors as possible and just left the state (or the United States). Examples of this in recent years include Betfred, Betway, Unibet, and in some states WynnBet. Because some of the failed online offerings were the products of established land-based operators, they typically cut deals and pulled out of markets without formal restructuring proceedings. What has not happened on any real scale is the bankruptcy and sale of assets of an operating sportsbook. OTG changed that. OTG filed a…
CFTC Predicting Litigation Success over Multiple States
June 8, 2026
CFTC Predicting Litigation Success over Multiple States
By: John Mikuta
Through recent litigation actions, the Commodity Futures Trading Commission (“CFTC”) continues to stake out an aggressive position in the fight over who has the authority to regulate prediction markets. On May 18, 2026, Minnesota Gov. Tim Walz signed into law SF 4760, an omnibus public safety bill that made it a felony to operate or assist in operating a prediction market.[1] The next day, the…
Michelle Cohen on iGaming Marketing: Five Critical Steps When Regulators Call
May 26, 2026
Michelle Cohen on iGaming Marketing: Five Critical Steps When Regulators Call
By: Ifrah Law
Michelle Cohen guides and defends Ifrah Law’s iGaming clients when government agencies launch enforcement actions alleging unlawful gambling, advertising, and marketing practices. Michelle has decades of experience advising and defending organizations facing these and other claims related to consumer protections and privacy. When faced with cease-and-desist orders and costly litigations, Michelle’s clients count on her credibility, diligence, and deep knowledge of iGaming advertising and consumer…
Kansas is Anticipated to be Next for Legalized Sports Betting
May 4, 2022
Kansas is Anticipated to be Next for Legalized Sports Betting
By: Sara Dalsheim
As part of a rumored effort to lure the Kansas City Chiefs to move their stadium to the state of Kansas, late on April 28th, 2022, and extending into the earliest hours on the 29th, Kansas state lawmakers voted in favor of a bill to legalize mobile and retail sports betting. Now, the bill is headed to Governor Laura Kelly’s desk for signature. Gov. Kelly…
NCAA Allows Data Distribution Deals to Sportsbooks
April 29, 2022
NCAA Allows Data Distribution Deals to Sportsbooks
By: Jake Gray
The National College Athletic Association (“NCAA”) relaxed its long-established opposition to sports betting this Wednesday in a decision that will allow for the sale of data to sportsbooks. The decision comes in the same week that NCAA president Mark Emmert agreed to leave his role in the middle of his contract once a new president is named, a move which will allow the NCAA to…
Legalized Online and Retail Sports Betting on its Way to Maine
April 26, 2022
Legalized Online and Retail Sports Betting on its Way to Maine
By: Sara Dalsheim
This week, Maine’s state House and Senate both approved a bill that would legalize online and retail sports betting. The legislation provides the state’s four federally recognized Indian tribes with a monopoly on mobile sports betting rights. The state’s two casinos, the Oxford Casino and the Hollywood Casino and Raceway in Bangor have the ability, under the legislation, to offer an in-person sportsbook. The bill…
Pennsylvania Finally Drops Under 5% Shareholder Licensee Registration Requirement
April 25, 2022
Pennsylvania Finally Drops Under 5% Shareholder Licensee Registration Requirement
By: Steven Eichorn
The Pennsylvania Gaming Control Board (Board) issued a letter to enact a policy change to raise the ownership interest threshold from one percent to five percent for ownership interests held in privately-owned entities. This immediately impacts the licensing requirements of “principal” applications in Pennsylvania and is effective for both existing licensees (or pending applications) and to future applicants. Who Does This Apply To? Further, it…
State Securities Regulators Intervene In Virtual Casino NFT Sales
April 18, 2022
State Securities Regulators Intervene In Virtual Casino NFT Sales
By: Jake Gray
State regulators in three states took the first steps in regulating non-fungible tokens (“NFTs”) as securities, issuing cease-and-desist orders against the online casino developer Sand Vegas Casino Club (“Sand Vegas”) and its co-founders for allegedly offering unregistered securities and violating various other securities-related regulations. As we have written, NFTs use smart contracts to offer holders novel functionality, like granting them access to certain services, events,…
