Closed and Without March Madness Bets, Sports Betting Faces New Pressures [The New York Times]
Caesars Entertainment, Inc. (CZR)
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Source: The New York Times
COUNCIL BLUFFS, Iowa — The Horseshoe Council Bluffs Casino had planned an advertising campaign, looking to beckon visiting college basketball fans to its sports book. A rival, Ameristar, spent about $750,000 to renovate a space for sports enthusiasts it hoped would crowd into its property along the Missouri River and bet on March Madness, the Masters golf tournament and many offerings in between.This spring was supposed to be a showcase for Iowa’s nearly eight-month-old experiment with sports betting. The coronavirus pandemic, though, shuttered nearly every casino in the United States and prompted the N.C.A.A.to cancel its hallmark men’s and women’s basketball tournamentsBut gambling companies missed out on the surge in visitors and wagers they were counting on.“March Madness is sort of the epitome of sports betting,” said Yaniv Sherman, the top U.S. executive at 888 Holdings, which offers sports betting in three states, though not Iowa. “It is a unique combination of a large number o
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