Virgin Hotels Las Vegas’ Mohegan Sun Casino Partners With Betfred USA Sports To Operate Sportsbook
Last week, Mohegan Gaming & Entertainment (MGE) revealed that the name and logo are the first Las Vegas destinations.
Gamblers can now place their bets inside the 60,000 square foot Mohegan Sun Casino Las Vegas.
Sportsbooks are gained popularity in the US after the Supreme Court decided to lift restrictions against the industry in 2018. The amendment in the gambling law allowed states to control and regulate its sports betting industry. The industry’s regulation contributed to a huge amount of revenue for the country and shifted the attention of gamblers away from illegal gambling operations.
Allowing sportsbooks operations gave the state power to impose guidelines that protect gamblers from problem gambling and cyber fraud. During the shutdown imposed to prevent the spread of the pandemic, sportsbooks continued operations through their sports betting apps despite the closure of land-based casinos and other gambling facilities.
Sportsbooks show massive potential
Gamblers placed their bets on available sports in the absence of major sports events like NBA and NFL. Colorado’s sports betting debut collected $25.6 million in wagers for May despite the shutdowns because of the novel coronavirus. The figure revealed by the Division of Gaming of the state showed the industry’s potential for growth.
The success of sports betting in New Jersey also proved the growing fame of the sportsbook industry.
Many states like Washington started allowing sportsbooks to operate after seeing the industry’s success and its contribution to the economy. Four tribal operators in Washington applied for licenses and expect to operate soon in Washington.
However, some states are still debating whether to allow the operations of sportsbooks. Conflicts of interests by legislators and industry leaders posed as challenges the approval of licenses for some states. Tribal leaders in California are opposing the legislation that would allow sports books to operate.
Casinos launch sportsbook at the reopening
The revenue from sportsbooks during the pandemic showed the stability of the industry. Casino operators saw the industry’s potential, which made them realize the importance of launching their own. Many land-based companies signed deals with tech firms to start their sportsbooks.
Mohegan Gaming & Entertainment (MGE) and Betfred USA Sports signed deals to launch a sportsbook inside the casino floor. Aviram Alroy, Vice President of Interactive Gaming at MGE, expressed their excitement in working with one of the biggest names in sports betting in the UK and Europe. He added that the partnership would guarantee a new and attractive competition to the gambling market in Las Vegas.
Betfred Group created Betfred USA Sports in 2019 in Las Vegas. The new sportsbook will feature state-of-the-art video wall with luxury seating and over the counter placing of bets, and it will provide a self-serving kiosk for the gamblers. The company now has four sportsbooks in the US, including properties in Iowa, Colorado, and Pennsylvania, and has plans to expand in other states.
The partnership will strengthen the foothold of the two companies in the US gambling market.
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