Horizons Spring/Summer 2019

On the Horizon As more states continue to pass legislation around the legalization of sports betting, particularly New York and Arkansas, the industry will continue to adapt to meet consumer demand and use of technological advances. The industry could see contest offerings expanded to include events such as eSports tournaments, as well as other lesser known sports such as rugby, darts, mixed martial arts and billiards, to name a few. As technology continues to evolve and regulators get comfortable with the technology, it is expected that sports betting will migrate to new retail outlets such as a ticket kiosk at the convenience store to a mobile transaction on a phone, tablet or smart watch. The possibilities of where sports betting can and will go are endless and it is only a matter of time until we are able to see where this segment will end up.

will increase the revenue brought in to the sports organization through a rise in ticket sales, food and drink, and even increased sponsorships from outside businesses if it appears the organization is drawing a more entertained and larger crowd to their events. The effect sports betting will have on increasing business opportunities will expand beyond the walls of the sports stadium. Local businesses surrounding sports venues will also see an increase in business as more individuals are drawn into their locations to attend sporting events. To begin, fans will spend money on transportation to attend the event, whether it is for parking, bus, train or ride share services. Once in the general location of the venue, fans may choose to buy food and drinks both prior to and following a game. This additional revenue is beneficial on more of a macro-economic level, as the money spent by fans is split between the city to cover sales tax, the local businesses to help their sustainability and growth, and the employees at these businesses to allow them to make a reasonable wage to cover necessary living expenses.

GAMING SERVICES GROUP

Many gaming operations throughout the nation seek out RubinBrown’s accounting, consulting, and tax services. For more information, visit www.RubinBrown.com/Gaming .

Brandon Loeschner, CPA, CISA, CGMA Partner-In-Charge Gaming Services Group 314.290.3324 brandon.loeschner@rubinbrown.com

Zach Goers, CPA Business Advisory Consultant Gaming Services Group 314.678.3555 zach.goers@rubinbrown.com

Daniel Holmes, CPA, CIA, CGMA Partner Gaming Services Group 702.579.7034 daniel.holmes@rubinbrown.com

Spring/Summer 2019

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