BetMGM has struck a new market access agreement with Revolutionary Racing Kentucky (RRKY) to bring its sportsbook to the state.<\/p>\n
BetMGM has struck a new market access agreement with Revolutionary Racing Kentucky (RRKY) to bring its sportsbook to the state once legalised sports betting goes live.<\/strong><\/p>\n Kentucky became the 37th US state to regulate sports betting in March, with retail sports betting scheduled to go live on 7 September 2023.<\/p>\n Online betting is set to follow on 28 September, which BetMGM has pencilled in as an official launch date in the Bluegrass State.<\/p>\n Online sports betting GGR will be taxed at 14.25%. Licence fees cost $500k on top of a $50k annual renewal fee.<\/p>\n \u201cKentucky has a rich history in sports and a passionate fan base,\u201d said BetMGM CEO Adam Greenblatt.<\/p>\n \u201cRevolutionary Racing is an ideal partner, enabling us to deliver an entertaining and responsible gaming experience, while investing in the state through job creation and tax revenue,\u201d he added.<\/p>\n The company will also open a 5,200 square-foot retail BetMGM sportsbook at $75m gaming and entertainment facility Sandy\u2019s Racing & Gaming in the autumn.<\/p>\n Construction of Kentucky\u2019s first quarter horse racetrack and equestrian centre will follow on 182 acres adjacent to Sandy\u2019s, with the first races scheduled for 2025.<\/p>\n \u201cWe promised to bring a world-class facility to Ashland and wanted a world-class partner for online sports wagering across the Commonwealth and at our sportsbook lounge,\u201d said Revolutionary Racing CEO Prentice Salter. \u201cWe\u2019ve got that with BetMGM.\u201d<\/p>\n BetMGM is the fourth operator to secure access in Kentucky after market leaders FanDuel and DraftKings confirmed partnerships earlier in the year. Caesars will also enter the state in combination with Keeneland and Red Mile Gaming and Racing.<\/p>\n BetMGM generated positive EBITDA in Q2 2023 and revenue of around $475m according to a trading update released by joint owners MGM Resorts and Entain in July. <\/p>\n April\u2019s US Sports Betting Market Monitor saw Eilers & Krejcik Gaming (EKG) explore whether Kentucky could become a potential goldmine for online operators.<\/p>\n <\/span> BetMGM has struck a new market access agreement with Revolutionary Racing Kentucky (RRKY) to bring its sportsbook to the state. BetMGM has struck a new market access agreement with Revolutionary Racing Kentucky (RRKY) to bring its sportsbook to the state once legalised sports betting goes live. Kentucky became the 37th US state to regulate sports […]<\/p>\n","protected":false},"author":1,"featured_media":428,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,2],"tags":[26,27,21,28,13,29],"class_list":["post-427","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-betting","category-questbeam","tag-betmgm","tag-draftkings","tag-fanduel","tag-kentucky","tag-sports-betting","tag-us-sports-betting"],"_links":{"self":[{"href":"https:\/\/questbeam.site\/index.php?rest_route=\/wp\/v2\/posts\/427","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/questbeam.site\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/questbeam.site\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/questbeam.site\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/questbeam.site\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=427"}],"version-history":[{"count":0,"href":"https:\/\/questbeam.site\/index.php?rest_route=\/wp\/v2\/posts\/427\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/questbeam.site\/index.php?rest_route=\/wp\/v2\/media\/428"}],"wp:attachment":[{"href":"https:\/\/questbeam.site\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=427"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/questbeam.site\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=427"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/questbeam.site\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=427"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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