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The US state of Arizona has approved Bet365’s application for an event wagering licence.
The tethered licence has been brokered through an agreement with Ak-Chin Indian Community, a federally recognised tribe and a member of the state’s 20 licence holders.
Arizona’s licencing regulations
House Bill 2772 and its subsequent tribal-state gaming compact enables a provision for a maximum of 20 event wagering licences.
These are reserved in equal parts for Arizona tribes and any owner of an Arizona professional sports franchise or team.
Being a holder of this coveted licence the Ak-Chin tribe has authorised Bet365 to operate under an event wagering licence formed from a market access agreement.
The agreement was previously occupied by Fubo Sportsbook, a streaming provider that has since closed its sports book divisions.
Bet365’s US expansion
The Arizona Department of Gaming (ADG) has now awarded the Stoke-based operator its 7th US gaming licence with Bet365 currently operational in Ohio, Virginia, New Jersey, Iowa and Colorado.
Further to this Bet365 is hopeful of a September 28th launch in Kentucky where the operator is currently supplying the market under a temporary licence.
This comes as quite a surprise given Bet365’s lack of initial action when sports betting began its US legalisation.
However, subsequent to the repeal of the Professional and Amateur Sports Protection Act (PASPA) by the Supreme Court, Bet365 has made many effective steps in entering the US market and securing a strong share.
In fact, the operator’s Ohio business report returned the 3rd highest revenue for July, overleaping the achievements of US market revenue leaders BetMGM and Caesars Sportsbook.
ADG planning future sector growth
The ADG still holds the intention of expanding its own gaming industry, initially seeking 3 new operators after Bet365 received approval.
These are allocated in the form of another tribal licence and 2 through a partnership with an Arizona sports team.
This could be supplemented by the closure of multiple Wynn Resorts including one which possesses an Arizona licence through a partnership with the San Carlos Apache Tribal Gaming Enterprise.
SiGMA Balkans/CIS
As a globally recognised nexus for networking, SiGMA Group sets its sights next to the Balkans this September, when the SIGMA Balkans/CIS Summit heads to Limassol Cyprus.
A host of?networking opportunities and industry-leading knowledge?will be emanating from the much-anticipated event which will pack panel discussions, keynote speeches, start-up pitches and much more into 3 days in the diverse Cypriot city.
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