PointsBet Agrees to Deal for Sports Betting Access in Maryland
PointsBet has secured a deal that will grant them access to offer sports betting in Maryland.
The sports betting law in Maryland was created to allow for smaller businesses, emphasizing minority-owned and women-owned organizations, to participate in the state’s burgeoning sports betting industry. One such business that was vociferous at legislative hearings revolving around the Maryland sports betting law was The Riverboat on-the-Potomac. The Riverboat is a simulcast horse racing facility that most Maryland residents are not aware of mainly because of where it is located; it is moored at Colonial Beach, Virginia.
However, The Riverboat on-the-Potomac has become Maryland’s first minority enterprise to join the sports betting industry following an announcement on Thursday that it has agreed to a partnership with Australia-based betting operator PointsBet. Both parties said they have agreed to the deal to prove online and retail sports wagering in the Old Line State, pending regulatory approvals.
Riverboat on-the-Potomac is a unique entity in regard to Maryland gaming. Although it is moored at Colonial Beach in the Potomac River and serves patrons mainly from Virginia, the restaurant, betting lounge, and other facilities reside over the Maryland state line, which places it in Maryland’s Charles County.
Consequently, the Riverboat contributes to Maryland Lottery revenue in addition to other Maryland state taxes. The Riverboat carries the nickname, ‘Little Reno’, and between 1950-1968 was one of only a handful of places in the U.S. where slot machines were available.
PointsBet provides services in Australia, the U.S., and Ireland and is currently battling rival operators for market share in the United States gaming landscape. As it stands, PointsBet is available in Colorado, Indiana, Illinois, Iowa, Michigan, and New Jersey.
Winston DeLattiboudere, co-managing member of the Riverboat Group, said they are “excited about this new endeavor.” DeLattiboudere added that they are “proud” to be partnering with PointsBet as they are a company that “understands and believes in the value of inclusiveness in every facet of the industry.” DeLattiboudere was also keen to thank the Maryland General Assembly for passing legislation to ensure “this enormous opportunity a reality.”
When will Maryland Sports Betting launch?
Early reports suggest that retail sportsbook operations will be available before online sportsbooks throughout the state because of licensing and regulatory issues. A target date of the 9th of September has been set, which coincides with the beginning of the NFL season.
As part of the deal, upon the expiration or termination of the 10-year agreement, Riverboat Group and PointsBet have negotiated rights related to retention and utilization of client data collected during the initial term. Additionally, PointsBet will retain the right to utilize client data it has directly acquired through online channels.
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