BetMGM Secures Access as Missouri Approaches Sports Betting Launch
As Missouri gears up for the anticipated December launch of its legal sports betting scene, BetMGM has emerged as a frontrunner by formalizing an access agreement within the state.
On Tuesday, BetMGM, a major player in the sportsbook landscape, announced it will operate under the auspices of Century Casinos’ subsidiary, Century Casino & Hotel Cape Girardeau. This partnership allows BetMGM to manage online sports betting activities in Missouri, leveraging Century’s gaming license. The deal stipulates a revenue-sharing model, where BetMGM will pay a share of its net gaming revenues to Century, alongside a guaranteed minimum payout and opportunities for retail sportsbook operations.
Last November, Missouri voters endorsed a ballot initiative, adding the state to the growing list of those permitting sports betting, albeit by a narrow margin. Notably, this year’s legislative sessions across the United States have concluded without any new state legalizing this form of gambling.
A Strategic Partnership with the Chiefs
In a significant move, the Missouri Gaming Commission has announced a launch date of December 1 for the betting operations. BetMGM’s strategic alliance with the Kansas City Chiefs, established in 2021, positions it uniquely in this burgeoning market. Following the launch, the Chiefs are set to host the Houston Texans on December 7, marking a pivotal moment as fans can engage in in-game betting within Arrowhead Stadium.
Missouri’s online sportsbook operators have the flexibility to gain market access either via a retail casino or through a partnership with a professional sports team. The Missouri Gaming Commission intends to issue two untethered licenses by mid-August, while others must align with a sports entity or casino by mid-September to secure their place in the market.
The Century Casino, previously known as Isle Casino Cape Girardeau, has been operational since 2012. The agreement with BetMGM hinges on both companies obtaining the requisite state licenses and regulatory approvals.
Expressing enthusiasm for the collaboration, Century Casinos’ co-CEOs, Erwin Haitzmann and Peter Hoetzinger, stated, “We are thrilled to partner with BetMGM, a pioneering online sports betting and entertainment company with an innovative approach.”
As the launch day approaches, all eyes are on Missouri as it prepares to welcome a new era of sports betting, promising both excitement for fans and opportunities for operators in this rapidly evolving industry.