Friday, August 12, 2022

"Gambling interests have already anted up roughly $350 million to wage campaigns for and against Propositions 26 and 27 on the November ballot" in California


That dwarfs the $224 million spent on the 2020 ballot measure that Uber and Lyft pushed to change state labor law


Similarly, voters this year are being thrust into making valuable long-term business decisions for the gambling industry. At stake is whether California will allow sports betting, and if so, who will reap the profits. Proposition 26 would allow sports betting in-person at tribal casinos and horse racing tracks. Proposition 27 would allow sports betting online on platforms run by California tribes or companies that partner with them.


Sports betting companies, including FanDuel and DraftKings, have pumped $150 million into a campaign supporting Proposition 27. Several tribes that own casinos have donated $92 million to support Proposition 26 and oppose Proposition 27. Other tribes have given $66 million just to oppose Proposition 27. Cardrooms have kicked in $41 million to oppose Proposition 26.