News: Wimbledon has officially been canceled for 2020 and will be played next from June 28th to July 11th in 2021.
Tokyo Olympics, 2020 Olympics
News: The 2020 Olympics have officially been rescheduled to the date of July 23, 2021.
Premier League, Soccer
News: The Premier League is in the planning phase of a 92-match sprint to play and televise the remaining 92 games in the season.
SportsGrid’s Take: The early-summer time frame provides some optimism for what sports may look like when they return. There are still a lot of logistics to figure out and games would be played with no fans, but it is something to look forward to.
Source: The Independent
NCAA Budget, NCAA
News: The NCAA announced plans to distribute $225M for 2020 to D1 programs, down from the original $600M that was budgeted.
SportsGrid’s Take: With March Madness not providing a huge revenue driver, it is perhaps not surprising to see an adjustment to the budget, but the effect will have a large trickle down. Between budget cuts and likely fewer donors, there could be schools forced to close down certain sports programs either temporarily or permanently.
NFL Facilities, NFL
News: NFL to institute coronavirus mandates, including the closure of all facilities, to maintain a level playing field.
Tokyo Olympics, 2020 Olympics
News: Toyko Olympics will be postponed.
SportsGrid’s Take: With an originally scheduled start date of July 24th, 2020, the postponement of the Tokyo Olympics marks one of the furthest dates on the calendar with a concrete cancellation. Still, this news should not be surprising due to the role travel has played in spreading COVID-19 to different communities.
DraftKings, Gaming Industry
News: DraftKings may go public as early as Mid-April. Shareholders in Diamond Eagle will vote on April 9 on the proposed business combination.
SportsGrid’s Take: With Fanduel in a secure position via Paddy Power, an IPO for DraftKings could provide some much-valued liquidity during an uncertain time.
Source: Eben Novy-Williams
News: Nascar to offer live iRacing coverage with broadcasters on FS1
SportsGrid’s Take: In an emerging trend, leagues and teams are beginning to offer video game based simulations of their canceled or postponed sports events, complete with broadcast teams.
Source: Bob Pockrass
MLS, Major League Soccer
News: The MLS has suspended play for at least 8 weeks to align with the current CDC recommendation.
SportsGrid’s Take: It is continuing to look like it will be at least multiple months, not weeks, before we see the majority of the sporting world resume play.
Maryland State Betting, Gaming Industry
News: Maryland Senate votes to approve sports betting, next step the Governor’s desk.
SportsGrid’s Take: If approved by Larry Hogan, the legalization of sports betting would go on the ballot during the November elections.
Source: Sports Handle
Caesars Entertainment, Gaming Industry
News: Caesar’s has announced they will be shutting down all North American properties on a temporary basis.
SportsGrid’s Take: Much like MGM’s decision, the travel and gaming industries have been rocked hard by the virus as Caesar’s follows suit. The stock is trading at $5.10 compared to a 52-week high of $14.74.
Source: David Purdham
Ryder Cup, PGATOUR and European Tour
News: The Ryder Cup, expected to be held in September 2020 is expected to be moved to 2021.
SportsGrid’s Take: It is possible this is due to a pessimistic global outlook, but also possible it has been deprioritized by the golf world in an effort to preserve as many sponsored events as they could for the PGA and European Tours.
PGA Championship, PGATOUR
News: The PGA Championship has been postponed as the PGA Tour extends their cancellations through Mid-May.
SportsGrid’s Take: The PGA Championship was scheduled for the second week in May, in San Francisco. This marks one of the longer fixed dates for which an event has been canceled and suggests a continued multi-month reduction in events in the sporting world as leagues try to help delay the spread of COVID-19.
Source: Brian Wacker
New York Nets, NBA
News: Four New York Nets have tested positive for COVID-19. One of the players is displaying symptoms while the other three are asymptomatic.
Source: Ian Begley
Kentucky Derby, Horse Racing
News: The Kentucky Derby has been officially postponed until September 5th.
SportsGrid’s Take: In a continuation of industry trends, it isn’t surprising to see the Derby moved. The event may have smaller betting handle if it ends up aligning close to the NFL opener, but should still draw a crowd.
UEFA, International Soccer
News: The UEFA has postponed the 2020 European Championship until June of 2021.
SportsGrid’s Take: Another major sporting event, this one postponed for a calendar year due to the international soccer schedule.
Source: John Cross
UFC 249, Mixed Martial Arts
News: Dana White has reluctantly postponed the next three UFC events (through April 11th) but UFC 249 is still scheduled.
SportsGrid’s Take: It seems unlikely that UFC 249 will happen given the trends we have seen across the world, but Dana White seems highly motivated to find a way to showcase the UFC during a time where the world is starved for sports and entertainment.
Source: Brett Okamoto
MGM, Gaming Industry
News: MGM has closed all operating US casinos.
SportsGrid’s Take: MGM’s stock is down 50 percent over the previous 5 days and trading at $10 compared to a 52-week high of $34.64 as the gaming and tourism industry continues to be disrupted by COVID-19.
Source: Howard Stutz
New Jersey Casinos, Gaming Industry
News: New Jersey Governer Phil Murphy has called for the closure of casinos, gyms and schools in recent days to try to slow the spread of the coronavirus. Online gaming will be allowed to continue.
SportsGrid’s Take: While there are not many sports to wager on, we expect the New Jersey operators to see an uptick in online gaming and blackjack. While all operators will suffer, the ones that have adopted a strong mobile strategy could weather the storm better. It will be interesting to contrast the impact to gaming companies in states which have not yet adopted mobile wagering.
MLB Opener, MLB
News: MLB has announced that it won’t start for at least 8 weeks.
SportsGrid’s Take: The language is pretty inconclusive and opens up the possibility for a much longer delay as they intend to follow CDC guidelines. The MLB notably intends to play “as many games as possible” which implies a shorten season could be expected. If a season is dramatically shortened, it can introduce more randomness and could provide some value to longer shot futures bets.
NFL Draft, NFL
News: The NFL has announced that the NFL Draft will go on as scheduled April 23-25th but will be done without public events in Las Vegas.
SportsGrid’s Take: The NFL also mentioned considering “innovative options for how the process will be conducted” and it wouldn’t be surprising to see a major communications brand involved in the process and as a sponsor for a fully remote draft.