- BetMGM will enter Puerto Rico via a market access agreement with Casino del Mar at La Concha Resort.
- This is BetMGM’s first market access agreement outside of the US mainland.
- BetMGM will partner with Casino del Mar for mobile betting as well as operating a retail sportsbook at the casino.
As boneheaded regulatory efforts by states threatens to stagnate the booming US sports betting market a growing number of companies are looking elsewhere. Canada hasn’t done a great job to date with their sports betting regulation but it’s early in the game there. A number of companies have made overtures about entering the Canadian market which will be regulated on the provincial level. BetMGM is taking a different strategy–they’re looking at the evolving gaming market in Puerto Rico and have already staked a claim there.
BetMGM has inked a strategic partnership with Casino del Mar at La Concha Resort for retail and mobile sports betting. With the usual disclaimer ‘subject to regulatory approvals’ BetMGM will offer mobile betting in Puerto Rico as well as operate a retail sportsbook at the gaming property. According to the press release annoucning the deal this is the first access agreement outside of the US mainland for BetMGM.
The Casino del Mar is the gaming operation at the La Concha Resort in San Juan. The property is located on Condado Beach at 1077 Ashford Avenue and is hard to miss due primarily to the conch shell architecture of the Perla dining and banquet facility. Old school Las Vegas residents will immediately notice the similarities between the Perla conch shell in Puerto Rico and the design of the iconic La Concha Motel that once served guests on the Strip and now resides at the Neon Museum. The Las Vegas La Concha was a product of the profoundly American Googie architecture trend of the 1950’s and 1960’s though, ironically, the Puerto Rico conch shell is described as ‘an emblematic example of Puerto Rico’s national architecture’ by the hotel’s website.
John Paulson, President, Paulson & Co–owners of the Puerto Rican property–is excited to get involved with an industry leader like BetMGM:
“Paulson & Co. is always in search of innovation in services and entertainment for our properties and guests, that is why we are very excited for this agreement between Casino del Mar at La Concha Resort and BetMGM. Sports are part of the everyday life in Puerto Rico, with a huge following and a passionate fan base in almost every sport. As such, it’s natural that we are the first market outside the continental United States in which our guests will be able to place bets with BetMGM. We are looking forward to a long and successful endeavor with BetMGM.”
Sigfrido De Jesús, General Manager, Casino del Mar at La Concha, shared his thoughts on the announcement:
“At Casino del Mar at La Concha Resort we strive every day to provide the best gaming experience on the island and this new venture alongside BetMGM is a great example of this. Sports fans in Puerto Rico will now add excitement to their pastime with the possibility of winning more than just a game by their favorite team. BetMGM is the perfect addition to our cutting-edge gaming offerings with high-tech slot machines and card tables, available 24/7 at our casino.”
Orlando A. Rivera Carrión, Executive Director, Puerto Rico Gaming Commission, is excited to see the investment in his country’s gaming industry:
“The Government of Puerto Rico welcomes this partnership for the economic development of our island. This new project will promote and encourage the growth of the gaming industry in Puerto Rico, all while implementing a public policy that encourages the development of new jobs and maximizing the income and resources of the Government of Puerto Rico. I trust in the success of this partnership and reiterate my total commitment to this initiative.”
BetMGM CEO Adam Greenblatt weighed in for his company:
“This marks a major milestone for BetMGM, as we share plans to bring our sports betting platform outside of the U.S. mainland for the first time. La Concha Resort is an ideal partner, and together we look forward to bringing BetMGM’s retail and mobile sports betting experiences to sports fans across Puerto Rico.”
Assuming that the final form of Puerto Rico’s revised gaming regulations are workable you’ll see plenty more US companies setting up on the island. Once a critical mass of sports betting options exists it’ll definitely give a boost to tourism.