Carousel & Caesars Sign Access Agreement
The Carousel Group has signed a deal with Caesars for market access into N.J., Iowa & Indiana
The Carousel Group, which owns and operates gambling platform SportsBetting.com, will now enter three of the most prominent legal sports betting states this year. This comes following the company already gaining access to the Colorado gambling market last year. The gaming company has revealed it has signed a multi-state, 10-year partnership with Caesars Entertainment. The deal will see its online sportsbook made available to bettors in New Jersey, Indiana, and Iowa. Additionally, its online casino will launch in New Jersey, pending regulatory and license approvals.
Daniel Graetzer, president and CEO of Carousel Group, mentioned that they finished last year by launching SportsBetting.com in Colorado. He said they are “thrilled to start 2021 with the announcement of our multi-state agreement with Caesars”. He describes Caesars as “a giant in the casino industry” and said they are the perfect partners to help them in their strategy to expand across the United States.
Graetzer added that they are excited to “with both Caesars and the regulators to launch SportsBetting.com in New Jersey, Indiana, and Iowa.” He also confirmed that the company is working on completing some significant updates to its products, including new mobile betting apps and a new casino platform.
The new partnership with Caesars will increase Carousel Group’s market in the U.S. from $109 million to an estimated $1.8 billion. Additionally, a press release also confirmed that 24.5 million people currently reside in the three new states. The deal allows Carousel the opportunity to enter a U.S. online casino market. The gross gaming revenue in New Jersey jumped from $483 million in 2019 to $961 million in 2020.
SportsBetting.Com to Enter Three Promising States
With the addition of Indiana, Iowa, and New Jersey to Colorado, Carousel now has four markets that frequently set new sports betting handle records. New Jersey nearly broke the magical $1 billion mark for sports betting handle in January, falling just short. However, the state did record more than $900 million for the third straight month.
Iowa posted a sports betting handle of $149.5 million in January, which was a new state record. This was an increase of 42.7% from December’s $104.8 million. It now means Iowa has posted a new sports betting handle record for five consecutive months. Indiana also set a new for sports betting handle in January, posting figures of $348.2 million. Colorado is also seeing great success with its sports betting industry, posting a total handle in January of $326.9 million, marking the first time the Centennial State has topped $300 million since sports betting launched.
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