Fresh from the legalisation of online sports betting in the State of Arizona, bookmaker PointsBet (ASX: PBH) has entered the desert state via a deal with the Yavapai-Apache Nation to launch betting operations within their Cliff Castle Casino Hotel.
The partnership comes just a few months after Arizona Governor Doug Ducey legalised sports betting in the State in April 2021, enabling professional sports franchises and tribal casinos to be eligible to apply for a licence.
“Alongside first-class partners in the Cliff Castle team, PointsBet is thrilled to begin the process toward offering the passionate, sports-loving communities of Arizona with a fast and differentiated sports betting product across every customer touchpoint,” said PointsBet USA CEO, Johnny Aitken.
“We look forward to quickly and responsibly introducing sports bettors and fans to the competitive advantages PointsBet possesses in owning our technology end-to-end, such as market-leading ease of use and the deepest slate of betting options available in the world.”
Under the 10-year agreement at the casino which is owned and operated by the Yavapai-Apache Nation, PointsBet has secured exclusivity to operate their operations within the Indian reservation. A PointsBet-branded retail sportsbook will also be launched at the Cliff Castle Casino Hotel to be operated by the Yavapai-Apache Nation.
Giving back to the tribe beyond their licensing fees, PointsBet will pay a portion of the Net Gaming Revenues derived from the online sportsbook operations as well as make an annual donation to a public interest fund that benefits the youth of the Yavapai-Apache Nation.
The State of Arizona is one of the unique markets for bookmakers to secure licensing in with Arizona being home to professional teams from all four major sports codes.
Interest in pro sports in Arizona is particularly piqued at the moment with the Phoenix Suns in the NBA finals. Additionally, the Arizona Cardinals are widely tipped to be a force in the NFL this season having recently signed future Hall-of-Famer JJ Watt to play alongside DeAndre Hopkins, Kyler Murry and Larry Fitzgerald.
The Cliff Castle Casino is located 1 hour north of Phoenix and features full gaming facilities as well as a luxury resort with fine dining and family entertainment.
*Owners of this website are PBH shareholders
Alfred Chan is a Business Reporter at The Sentiment specialising in ASX-listed small cap companies, a bloodstock enthusiast and former equities analyst.
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