Bet on Gaming Holdings Surprise Entrant in New York Casino Competition
The already teeming fray for a tertiary downstate cassino license inwards New House of York has a unexampled competitor with the accounting entry of Bet on Gaming Holdings.
The privately held, minority-owned unfaltering proclaimed Thursday it created an investment fund to take part in the bidding for the tertiary New York City-area gaming permit, which could follow awarded inward later(a) 2023. Bet on Gaming’s investment monetary fund is also intentional to take part in “other upcoming brick-and-mortar cassino opportunities.”
With secured capital and o'er 30 years of expertise inwards the evolution and trading operations of land-based casinos, BOGH is fountainhead positioned inwards the manufacture to get a worthful equity partner for any possible bidders seeking a to a greater extent inclusive team,” said Principal Dennis Cotto in a statement.
Bet on Gaming’s investment monetary fund focuses on business-to-business solutions, casinos, gaming devices, and online sports wagering.
“Bet on Gaming Holdings’ business deal teams deploy chapiter globally crossways the technology and technology-enabled spectrum in compelling investment opportunities predicated on innovative or turbulent byplay models and companies with the demonstrated potency for accelerated marketplace leadership in the gaming industry,” according to the firm.
Bet on Gaming’s New House of York State of Mind
It remains to be seen exactly how Bet on Gaming testament go up New York City, but what’s non disputable is the raze of contention to bring a young casino hotel to the largest US city.
Currently, the deuce New House of York City-area casinos — Resorts World New York City in Queens and MGM’s Empire City Casino in Yonkers — are slots-only properties. The state’s 2023 budget potential paves the way for those venues to turn full-service casinos with tabulate games and retail sportsbooks, as fountainhead as providing a tertiary permission for a yet-to-be-determined operator.
Bidding for the 3rd certify is draftsmanship some of the industry’s biggest names, including Caesars Entertainment, Hard Rock International, Las Vegas Sands, and Wynn Resorts. There’s also speculation Bally’s is interested, though that troupe is focusing on a $1.7 one million million integrated holiday resort send off in Chicago.
It’s possible that one of those groups could bid Bet on Gaming to get under one's skin mired as an avenue for defraying costs, and thither is some case in point for that, but it’s simply speculation at this stage.
Bet on Gaming Steeped in Industry Experience
Bet on Gaming has copious manufacture experience. Through a partnership with Golden Nugget Online, Bet On Gaming holds a roving sports wagering permit inwards Virginia. The companion also holds a similar countenance inwards Maryland. It’s workings with Duke of Marlborough Downs to unfastened to a greater extent retail sportsbooks crosswise the country, according to its website.
The Bet on Gaming team has over ternary decades of manufacture have and is well-versed inwards land-based gambling casino operations.
“Its principals hold highly-developed and operated MGM Detroit, MGM National Harbor, New York New York, and the Flamingo of Las Vegas,” it said in the statement.