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Companies concerned in Massachusetts’ budding sports activities betting market are already beginning to hunt down offers and partnerships with one another within the run-up to the scheduled launch of sports activities wagering early subsequent yr, in response to new paperwork regulators launched to MassReside and interviews with key stakeholders.
Public particulars are nonetheless scarce however a handful of indicators of potential partnerships are rising in surveys that sports activities wagering hopefuls had been required to show in to the Massachusetts Gaming Commission final month as a part of the sports activities betting software course of and in discussions with business consultants.
The surveys ask for fundamental info from these seeking to apply for a sports activities betting license — their firm sort, whether or not they’re publicly traded, administration construction, traders, and details about guardian firms.
The surveys additionally ask firms to point in the event that they turned in an attachment displaying any present gaming licensees or sports activities betting candidates with whom they’ve “an agreement to conduct or are in the process of negotiating an agreement.” A majority of the 30 firms that accomplished the surveys stated that they had turned in one of many attachments describing these potential or solidified partnerships.
While the attachments are usually not but publicly obtainable, offers are being made within the background between retail operators and on-line firms. Raynham Park proprietor Chris Carney stated that his firm is “within two weeks” of naming a partnership with a digital betting platform to run the racetrack’s one on-line betting platform
“We’re looking for a partner right now for retail and online,” Carney stated in an interview with MassReside, although he declined to supply particular particulars earlier than the partnership was introduced.
Industry insiders say the “licensee association” attachments, as they’re known as within the surveys, might additionally present which on-line firms wish to pair up with the three casinos within the state in an effort to solidify their spot within the brand-new Massachusetts sports activities betting market.
Encore Boston Harbor, MGM Springfield, and Plainrdige Park Casino have utilized for class one licenses below the state’s sports activities wagering legislation, which, if authorized, would enable them to supply in-person wagering and on-line betting by as much as two individually branded platforms.
If a web-based betting firm can strike the correct cope with a on line casino, consultants say, they’re greater than possible assured an entrance into the Massachusetts market with out having to compete with different companies for one of many seven on-line betting licenses allowed below state legislation.
That is strictly what state gaming regulators needed to glean from the “licensee attachment” — which on-line firms are making offers to run one of many two digital betting platforms the state’s three casinos have entry to below the sports activities betting legislation, in response to a fee official.
Experts additionally questioned whether or not a betting firm might safe one of many seven unbiased on-line betting licenses and negotiate a deal to function a cellular or digital betting platform for one of many casinos, successfully letting them run two on-line sports activities betting operations.
But it’s unclear if regulators will let that occur or whether or not state legislation permits such a state of affairs. A spokesperson for the fee stated the Gaming Commission would wish to debate the query throughout public conferences earlier than any resolution is made.
On the dealmaking entrance, insiders say probably the most motion is going on among the many state’s two horse racing tracks and simulcasting amenities — Raynham Park and Suffolk Downs — who might want to depend on an outdoor firm to run their sports activities betting operations, each on-line and retail.
At least one firm has made clear they wish to negotiate with them.
In its survey, FanLogic stated it needs to each compete for a web-based wagering license that isn’t tethered to a brick-and-mortar operation and accomplice with one of many horse racing tracks.
“FanLogic has not identified a category two partner. However, we may be in discussions with a category two partner in the near future. Thus, FanLogic would apply for both a category three tethered and untethered sporting wagering license,” the corporate’s scoping survey stated.
A FanLogic consultant didn’t reply to a request for remark.
But the timeline for when class two licensees will launch remains to be unclear even because the Gaming Commission has voted to approve a late-January begin for in-person betting at casinos and early March for on-line betting.
At a fee listening to in early October, Commission Executive Director Karen Wells stated class two candidates had been “intentionally” not included in timelines as a result of regulators wanted extra info from them.
“We need more information from them on their plans and their partners before we can figure out where they fit into the timeline,” she stated. “So that would be another discussion.”
Rimon Law Attorney Steven Eichel, who represents Raynham Park in its software course of, stated the timeline for horse racing tracks depends on after they choose a sports activities betting firm to run their wagering operations.
He stated Raynham Park can’t begin its software till that partnership is solidified, including it’s “kind of a gating event for getting really substantively into the application process.”
As far as what Raynham Park is on the lookout for in a future accomplice, Eichel stated it’s no state secret “to say we want a partner who is going to give us the largest projected market share.”
“But at the same time, it goes without saying that that can only happen with an operating partner who’s one of the major players and who’s got real credibility in both the marketplace for consumers as well as with the Gaming Commission,” he stated.
State legislation requires class two sports activities betting licensees to make a capital funding of not less than $7.5 million. Raynham Park is within the strategy of constructing out a 30,000-square-foot gaming facility close to their outdated race monitor in Bristol County.
Carney stated he’s spending over $25 million on the brand new facility, which he hopes will grow to be a “destination location” for sports activities betting.
“I wanted to stay in Bristol County, I wanted to stay at the dog track because the town and the family have a great relationship and history,” he stated. “I didn’t want to try to recreate the wheel with somebody I didn’t know. I had great support from the town.”
Commonwealth Equine and Agriculture Center, higher generally known as Great Meadowbrook Farm, additionally submitted a survey, although their plan to open a thoroughbred horse racing monitor and sports activities betting facility in Hardwick was voted down by the city’s Board of Selectmen.
A Suffolk Downs consultant didn’t reply to a request for remark.
The potential for dealmaking and data sharing had not less than one gaming regulator involved final week.
At a digital listening to, Commissioner Jordan Maynard stated he was frightened about info a on line casino might collect at a retail betting kiosk after it launches in January that might then be handed alongside to an untethered on-line betting operator “that would perhaps give someone a leg up.”
“That’s something that I would like to address later on as we keep moving through regulations,” he stated. “… But I am concerned about equity issues. I am concerned about giving someone a leg up and I will work with my fellow commissioners, if you’re interested, in finding ways to level the playing field after everyone is operating.”
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