BetMGM gets market access to Puerto Rico
Pact with Casino del Mar at La Concha Resort is first outside US mainland.
Casino del Mar at La Concha Resort and BetMGM, a sports betting and online gaming company, on Thursday said they have agreed to a strategic partnership.
Subject to regulatory approvals, BetMGM will expand its retail and mobile sports betting offerings to Puerto Rico, making it the company’s first market access agreement outside the US mainland.
As part of the agreement and subject to regulatory approvals, BetMGM will offer both retail and mobile sports betting, with the planned opening of a retail sportsbook at the San Juan-based beach resort and the launch of the BetMGM mobile app throughout Puerto Rico.
BetMGM and La Concha Resort said they expect to offer sports betting capabilities as soon as the regulated market commences in Puerto Rico.
“This marks a major milestone for BetMGM, as we share plans to bring our sports betting platform outside the US mainland for the first time,” BetMGM CEO Adam Greenblatt said in a statement. “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.”
John Paulson, President, Paulson & Co., an investment management firm headquartered in New York, added, “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 is 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, said, “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 gaming offerings with high-tech slot machines and card tables, available 24/7 at our casino.”
Carlos Mercado Santiago, executive director of the Puerto Rico Tourism Company, added, “The Puerto Rico Tourism Company is looking forward with great anticipation to the entertainment opportunities that this new relationship will create for residents and visitors alike as well as its positive impact on Puerto Rico’s economy. One of the elements that makes our island a destination that delivers a visitor experience is its ability to continually diversify by incorporating new options and trends such as sports betting and online gaming.”
Orlando A. Rivera Carrión, executive director, Puerto Rico Gaming Commission, said, “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.”
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