Here are the top stories in sports and business on Thursday, April 30.
NBA team executives want to cancel the remainder of the NBA season, but LeBron James says no way. More than 30 million Americans have filed for unemployment. And Colorado gets ready to legally wager on sports.
Is the NBA Season Canceled?
NBA Team executives want the remainder of the postponed 2020 season canceled completely. but NBA superstar LeBron James says that’s not true.
According to a report by CNBC, several league executives are frustrated with the lack of information about the league’s plans to reopen training facilities and put games back on the schedule leading some to say it would be better if the NBA canceled the season and focus on planning for next year.
According to the CNBC report, one team exec expressed concerns from owners about additional cost of returning to action without the same rate of return on revenue.
But the league’s biggest superstar took to Twitter to refute those rumors. LeBron says, “it's absolutely not true. Nobody I know saying anything like that. As soon as it’s safe we would like to finish our season. Nobody should be canceling anything”
The NBA was the first professional sports league in the United States to halt its season due to health concerns relating to the spread of the coronavirus.
NBA Commissioner Adam Silver made the announcement to postpone the season on March 11 after several NBA players tested positive for the virus. The MLB, NHL, and NCAA all canceled or postponed their seasons shortly after the NBA’s decision.
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A Coronavirus Update
Here's your daily coronavirus update on Thursday, April 30.
There are over 3.2 million cases of the coronavirus worldwide, with 229,000 fatalities, per data from Johns Hopkins.
The U.S. has over a million cases and over 60,000 deaths. New York has over 300,000 cases and 18,000 fatalities. Now, looking worldwide, Spain has over 239,000 cases and 24,000 deaths. Italy, meanwhile, has 205,000 cases and 27,000 deaths.
The U.K., which has 166,000 cases has surpassed Spain in fatalities--the U.K. now has 26,000 deaths.
Switching back to the U.S., the U.S. Department of Labor released jobless claims early this morning. Claims totaled 3.8 million, which was higher than experts' expectations for 3.5 million.
This means that over 30 million people have filed for unemployment. And, I want to add a quick caveat that there could be even higher unemployment since some states are still struggling to process the high volumes from calling in.
Wall Street will get the jobs report next week, which is expected to have unemployment in the double-digits.
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What You Need to Know About Colorado and Sports Gambling
People in Colorado will be able to legally wager on sports starting on May 1st which is tomorrow. Colorado citizens voted on legalization for sports gambling in November after the state’s legislature approved the bill last summer.
There’s 33 casinos in Colorado all of which are able to apply for the sports gaming license. Plus companies like DraftKings, FanDuel and other mobile and digital sports books are allowed to offer their product in the Centennial State.
Colorado is the 21st state with an active legal sports gambling marketplace. There are more than a dozen other states with ongoing legalization laws in place.
Problem is, as we know, there aren’t many sports to bet on right now since nearly every athletic event across the globe has been canceled or postponed due to the coronavirus.
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