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The Puerto Rico Gaming Commission approved the first sports wagering license, paving the way for the industry to begin in time for Super Bowl LVI.
Orlando Rivera, executive director of the gaming commission, announced Casino del Mar at the La Concha Resort in Condado is the recipient of the island’s first online sports betting license.
The first of many sports betting licenses for Puerto Rico
In September, Casino del Mar partnered with BetMGM, giving the company the first market access deal outside the US mainland.
In a statement, BetMGM CEO Adam Greenblatt said the launch was a monumental achievement for the company.
“Casino del Mar delivers exceptional guest experiences and is an ideal partner as we look to extend our brand in Puerto Rico,” Greenblatt said.
Rivera added:
“We granted a provisional license to a company that has complied with all the Commission’s requirements with the intention to use an international event such as the Super Bowl as the spearhead of a new industry in Puerto Rico.”
According to Rivera, over the next year, the island could potentially have up to 10 sports betting operators.
“Sports betting represents a new business model for everyone on the island, especially for the capital city, which will be the first municipality with this type of activity,” Rivera said.
“This will represent an important collection for the treasury and an economic flow for local businesses.”
Economic benefits for the island
The gaming commission estimates sports betting could generate roughly $30 million annually once all operators are up and running.
Rivera said the commission is optimistic this new industry will “create jobs and commercial spaces” for the public.
Rivera concluded by saying:
“We remain committed to monitoring the new betting modalities in Puerto Rico in accordance with international development. We predict a great launch and success for sports-betting at Casino del Mar and Puerto Rico.”
Sigfrido de Jesús, Casino del Mar’s General Manager, said:
“We are very excited to kick off sports betting at Casino del Mar through this important strategic alliance with BetMGM. In Puerto Rico, there is a wide base of sports fans who will now add the possibility of becoming winners to the excitement of their favorite sports games and matches.”
BetMGM will open a retail sportsbook and launch the BetMGM Sportsbook app later this year.
For now, customers have access to 12 betting kiosks and five betting windows to choose from.
To place bets, customers need the following:
- Valid photo ID
- Be 18 years of age or older
- Be of Casino del Mar (which is free)
