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In a recent note, they observed that online casino revenue in the United States in the six states mentioned above has hit a plateau. But they believe it¡¯s merely a pause, as evidenced by the words of Rush Street Interactive CEO Richard Schwartz, who, during the company¡¯s most recent earnings call, said, ¡°All of our peers, whether it¡¯s large land-based casinos or sportsbook-first DFS companies, they are all aligned around funding, not just supporting verbally, but really putting some money to work to lobby for iGaming legislation for the first time really in the history of this industry in the U.S. market.¡±
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An Investing in Danville Committee, made up of community members, made recommendations on how casino revenues should be spent. Those committee members identified several categories for funding: public education, economic development, quality housing, healthy community, public safety, quality of life amenities, infrastructure improvements and long-term financial stability for city government.
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Then there¡¯s ¡°Bill,¡± who became a big deal with his friend group during the 2021-¡¯22 basketball season, when the 26-year-old Fishtown resident was ¡°hitting so much, my friends were asking to let them get a piece of it.¡± People spend time following the big names ¡ª called ¡°cappers¡± ¡ª but those who win bets within friend groups gain status and plenty of attention, too.
A 2018 U.S. Supreme Court ruling in a case brought by New Jersey cleared the way for all 50 states to offer legal sports betting should they choose to do so. With that rapid expansion came an expectation in some quarters that internet gambling would almost automatically grow at a similarly rapid pace.
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