Caesars Entertainment – First Maine Sportsbook

Caesars Entertainment - First Maine Sportsbook

Caesars Entertainment is a household name in the world of casinos, but it has recently taken sportsbooks under its wing. In other words, the brand is looking to expand by offering bettors and sports fans a place to visit.

Recently, Maine has been getting attention as it has legalized sports betting. Caesars Entertainment rose up to the occasion and is going to be the first sportsbook operator in Maine. It did its due diligence and is the first to step into that market, unlike other providers.

The Brand Has Linked With the Tribes

Maine is a relatively new market in the sportsbook world as it legalized it at the beginning of May. This makes the market ripe for the taking, but only after operators have been familiarized with the legal framework that comes with it.

Naturally, any operator looking to provide sports betting services. They also need to know that the operator will need to dedicate 10% of its revenue to tax and will need to operate with the consent of the four tribes responsible for the area.

This may seem like a challenge for operators, but so far only Caesars Entertainment is taking the lead. The officials behind the brand have already gotten the approval of three of the four tribes. The Passamaquoddy has yet to approve the brand. Another hiccup in the Maine market is that the operator will need a tribal partner to operate and give the partner 50% of its revenue.

This is something that Caesars Entertainment has agreed on, but it’s yet to find a partner. Finally, you have the fact that the Maine sports betting market is relatively small compared to other ones. In other words, operators will provide their services to 1.37 million Maine residents.

These conditions have discouraged big sports betting brands like Draft Kings and FanDuel from entering the Maine market, which is a plus in Caesars Entertainment’s book. In other words, this brand has played its card right so far and as things are going, it will be the first sportsbook operator in Maine.

Conclusion

Caesars Entertainment is a big name in the world of casinos, but it is also looking to tackle sports betting as well. The Maine market is ripe for the taking and the brand has done all it needs to do to secure a tribal partner. The fourth and final tribe needs to assent for Caesars to be the first sportsbook in the state.

About the author

Jennifer Lynn
Head of Content
Jennifer Lynn has spent 14 years working in the online casino industry, making her a real expert in the field. She's not just skilled at writing about casinos; she also has a deep interest in online gambling games and is a passionate researcher and player. Jennifer offers her expertise on a range of casino games and the smart strategies to use. But her life isn't all about gambling and casinos. She also loves riding horses and practicing yoga, showing that she knows how to balance her professional interests with personal passions.

Related News

Strip Casino Gets Another Jackpot Player

Strip Casino Gets Another Jackpot Player

A jackpot in Vegas isn’t a new thing. They have been landing over and over again. Some players go for slot machines and others go for table games that offer jackpots. One…
May 12, 2023 Business
Vegas Resident Lands $200K Progressive Jackpot

Vegas Resident Lands $200K Progressive Jackpot

Vegas is one of the hotspots of the world of casinos which is why it gets so many visitors. Some of them happen to be locals and they are interested in the…
May 09, 2023 Business
New Jersey Player Lands $1.97 Million Online

New Jersey Player Lands $1.97 Million Online

There are many online casinos available on the net. Draft Kings happens to be one of them. It’s an online sportsbook available in the US as well. New Jersey residents like playing…
May 03, 2023 Business
Macau Casino Revenue Jumps in April

Macau Casino Revenue Jumps in April

Macau is one of the most popular casino hubs in the world. China was hit hardest during the pandemic, but it has managed to bounce back after a couple of adjustments. April…
May 03, 2023 Business
Twin River Casino Expands

Twin River Casino Expands

Bally is a big name in the world of casinos which is why it makes sense for it to grow larger. Twin River Casino is one of the brainchildren of Bally and…
Apr 28, 2023 Business
Jackpot Saturday at Caesars Entertainment

Jackpot Saturday at Caesars Entertainment

Vegas is the spot for all casino players from around the world. Sin City gets local and global visitors daily at its most prestigious casinos. Most of them are looking to have…
Apr 26, 2023 Business
South Point Casino Player Lands $700K Jackpot

South Point Casino Player Lands $700K Jackpot

Vegas is the place for all US casino fans as well as casino fans from across the world. The town has lots of casinos to offer and all of them are brimming…
Apr 25, 2023 Business
Toronto Player Lands $3.2 Million Jackpot

Toronto Player Lands $3.2 Million Jackpot

Canada isn’t the place that comes to mind when casino fans are looking for a place to visit so they can play casino games. But Canada has some casinos to offer and…
Apr 24, 2023 Business
Changes in Vegas

Changes in Vegas

Vegas is filled with big brands. These brands need to be fresh and appealing to their clients if they’re looking to last which is why they reinvent themselves frequently. In other words,…
Apr 20, 2023 Business
Flamingo Player Lands $1.3 Million Jackpot

Flamingo Player Lands $1.3 Million Jackpot

The Strip is home to many casinos. The Flamingo happens to be one of them and it offers a variety of casino games to anyone that comes to visit. The bars and…
Apr 20, 2023 Business
Michael Smith Lands a Jackpot at Sin City

Michael Smith Lands a Jackpot at Sin City

Michael Smith is a name known to darts players and fans of the sport. He’s the current world champion and after having won the title, he decided to take some time off…
Apr 19, 2023 Business
NY Casino Faces Strong Opposition

NY Casino Faces Strong Opposition

A casino in NY might have been just an idea once, but today it’s a project that just might happen. Caesar’s Entertainment and SL Green Reality have partnered to make the project…
Apr 18, 2023 Business