BetMGM announced Monday a new partnership with Gila River Hotels & Casinos and the Arizona Cardinals for retail and online sports betting. This agreement establishes the company’s first relationship in Arizona, securing BetMGM’s sports betting presence in the state.
“BetMGM plans to bring its industry leading platform online once legalized sports betting launches in Arizona,” said the company on a press release.
Further plans include opening retail sportsbooks at the three Arizona Gila River properties, expected near football season; and at State Farm Stadium, home of the Cardinals, with a targeted opening in time for the 2022 NFL season, totaling four sportsbooks in the Phoenix area.
On the importance of this new agreement, BetMGM CEO Adam Greenblatt said: “Gila River Hotels & Casinos and the Arizona Cardinals represent the state’s premier casino destinations and sports franchise, making them the ideal partners for us.”
Gila River Hotels & Casino CEO, Kenneth Manuel, added: “Gila River Hotels & Casinos and the Arizona Cardinals have an everlasting partnership, offering guests exclusive experiences and remarkable rewards.” By uniting with BetMGM, he believes the three brands “will deliver the ultimate experience in Arizona sports betting.”
The Gila River Indian Community currently operates three Arizona locations: Wild Horse Pass, Lone Buttle, and Vee Quiva, which will feature custom built BetMGM Sportsbooks.
Earlier this year, legislation was passed and signed by the governor to allow for 10 sports-betting licenses available to teams, 10 to tribes and 10 for horse tracks and off-track betting sites that partner with other licensees.
The licenses cost $850,000 as a one-time feed made payable to the state, with gross revenue from sports betting being taxed at 10% on mobile wagers and 8% on retail bets. It is expected that the entities approved for sports betting will be revealed next week.
The state has also been working on amended compacts with tribes to offer more table games, slots and opening new facilities.
One such case is Gila River’s forthcoming fourth casino, likely to cost more than $100 million, located south of Chandler. The casino is expected to open in one and a half to two years and plans could be expanded to add a hotel.