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Are movie theaters getting into the sports betting business?
It appears so after Royal Oak Emagine, a Michigan-based company, announced plans to open a Vegas-style sportsbook inside its movie theater.
Popcorn, movies, and… sports betting?
Located minutes from Detroit, The Emagine Sports Lounge will open on December 30 on a first-come, first-serve basis — complete with free ission.
Anthony LaVerde, Emagine Entertainment CEO, told WXYZ,
“It’s been two years of COVID pain for us at Emagine. This initiative was actually thought about pre-COVID. It’s nice to see it come to fruition and give people a communal experience without having to get on a plane and fly to Vegas.”
The lounge will feature a screen two stories high and 40 feet wide, capable of showcasing multiple live sporting events at once. Additionally, the theater comes with high-speed WiFi, and each seat is outfitted with a table for a laptop.
Michigan sports betting license needed?
Since there will be no retail sports betting on-site, Emagine does not need a license. It also helps that Michigan online sports betting has put up big numbers since its debut.
For November, the online sports betting handle totaled $473.8 million, up 2.2% from October.
As a whole, the industry pulled in $500.5 million in legal bets for the month.
Sportsbooks generated $58.8 million in revenue, translating to $1.6 million in tax revenue for the state.
Don’t forget about Michigan online casinos
According to the Michigan Gaming Control Board, internet gaming earned $107.6 million in revenue for November.
The combination of online casinos and online poker generated $19.8 million in tax revenue for the state. The city of Detroit also collected $5.3 million in taxes.
Since its debut in January, online casino gaming has brought in $179.1 million in total tax revenue.
