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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.
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.