- Malta based iGaming company the Carousel Group has made a deal with Caesars for market access in three new states.
- Carousel’s SportsBetting.com brand will operate in New Jersey, Indiana and Iowa.
- They area also planning to offer online casino gaming in New Jersey.
The Carousel Group, a Malta based iGaming company, has gained market access in three new states thanks to a deal with Caesars Entertainment. The 10 year deal will see Carousel’s marquee SportsBetting.com nameplate launch in New Jersey, Indiana and Iowa pending all necessary licensing. In addition, they are planning to offer online casino gaming in New Jersey.
Carousel launched their SportsBetting.com brand in Colorado last September and at the time indicated that they had plans to expand to other markets. No surprise that they chose three states that are doing sports betting right in Indiana, Iowa and New Jersey. Companies want to enter those markets while overly regulated, lottery based markets not so much. At the time of the Colorado launch Carousel Group CEO Daniel Graetzer expressed his excitement about launching in the US market:
“We are incredibly excited to unveil SportsBetting.com to the United States, it feels like Christmas in September. This project is the culmination of years of planning and hard work, and finally we get to see our product live in the booming Colorado market.”
Graetzer pledged to be a ‘player friendly’ book that provides great value for customers and that doesn’t kick out winners:
“We will stand by our pledge to offer some of the best odds and highest limits in the market, meaning we’ll provide great value for customers, and we won’t kick out players just because they are winning.”
Carousel will now bring SportsBetting.com to three new states. As the press release announcing the deal indicates it significantly expands their market reach:
The agreement with Caesars will increase Carousel Group’s addressable market in the US from $109 million to an estimated $1.8 billion, with 24.5 million people residing in the target states. The agreement also provides Carousel Group with the opportunity to enter an extremely attractive US online casino market. The market has grown rapidly with New Jersey’s iGaming GGR increasing from $483 million in 2019 to $961 million in 2020.
CEO Daniel Graetzer had these comments about his company’s expanded presence in the US market:
“We closed out 2020 with the launch of SportsBetting.com in Colorado and we are thrilled to start 2021 with the announcement of our multi-state agreement with Caesars, a giant in the casino industry and the perfect strategic partner to help us aggressively expand our market access in the US.”
“We look forward to working with both Caesars and the regulators to launch SportsBetting.com in New Jersey, Indiana and Iowa. We are also finalizing major updates to our products, including new mobile apps and a cutting-edge casino platform. Bettors continue to be more product savvy, which is why we built a user-centric tech company with full control over the user experience. Our design principles along with our in-house tech and operations will be the key to our long-term success in the US.”
No timeline was specified about the SportsBetting.com launch in any of the new states. The Carousel Group was launched in 2017 and has offices in New Jersey, Malta and Spain.