BetMGM, Unibet, theScore cope with New Illinois Panorama
Similar to sports betting, almost every decision made by a state that contains rules and regulations creates winners and losers.
This process is still taking care of itself after Governor JB Pritzker decided last weekend to let the Executive Order 2020-41 expire. This means Illinois bettors must now go to a casino and register to gain access to get the mobile app of their choice. Although six options are available, only one cellular operator – Barstool Sportsbook – has been launched in the past six months or more.
Two other companies, Unibet and BetMGM, are currently reviewing their applications for licenses from management services providers by the Illinois Gaming Board. To some extent, Pritzker’s decision to let his executive order expire leaves these two operators in the balance, but it also has a clear disadvantage when it comes to attracting customers in the state to further expand a sports betting pie, nationwide already has a top 4 status grip conditions.
A third operator, theScore, has entered into an Illinois market access agreement but has yet to file documentation to begin the licensing process.
Will BetMGM play in Peoria?
Ok friends, let’s spend a few minutes talking about getting back to registering a personal sports betting account in Illinois. Inconvenient to say the least. In addition, it is pushing growth and seriously affecting any book in the license application pipeline. ->
– Steve Brubaker (@SteveBrubaker) April 4, 2021
A BetMGM spokesman declined to comment on Pritzker’s decision to forfeit the executive order, but frustration would be understandable as she has been in the bidding process since September 4th, according to the ITUC official website. Meanwhile, BetMGM has been generating momentum in nearby Indiana and Michigan.
BetMGM has long been expected to be the online skin of the Par-A-Dice casino in East Peoria, which is a little less than a three-hour drive from Chicago. It was originally passed in the pecking order by FanDuel, who used its Boyd Gaming connection to Par-A-Dice as the casino’s online skin for a launch in late August to prevent DraftKings from dominating market share in Illinois.
In mid-November, FanDuel announced that it would transfer its license to Fairmount Park as part of a rebranding and eventual racino in Collinsville, giving BetMGM its then and future expected landing site in East Peoria. BetMGM has been the third largest generator in Indiana every month since July, peaking at $ 52.4 million in January.
The ability to equate mobile operators with other operators from the start in Wolverine State has proven beneficial in conjunction with Detroit’s retail loyalty over a tribal partner. BetMGM had online sales of $ 98.5 million in January and February. That put BetMGM in third place and within reach of DraftKings in second place.
On paper, BetMGM has the potential to challenge BetRivers in Illinois for third place, much like they did in Indiana. However, registering in person could add a longer deadline for this achievement as Barstool pushes its newly formed base.
Unibet Misses Potential Indiana Connection Via Indiana
Pritzker closes book on registration of mobile sports betting
(Via Sun-Times) pic.twitter.com/aaNac6g92v
– Michael J. Zalewski (@mjzalewski), April 3, 2021
Unibet originally gained market access to Illinois last September when it reached an agreement with Penn National Gaming for the online skin of Argosy Casino in Alton. While Argosy Casino is on the west side of the state and closer to St. Louis, Unibet in Chicagoland is somewhat well known in neighboring Indiana thanks to its online presence.
Unibet is Horseshoe Hammond’s second skin but the best skin in terms of performance compared to Caesars Online. Unibet has generated nearly three times the grip of Caesars since October. In addition, Caesar’s parent company, Eldorado Properties, will eventually part ways with the location as that is one of the terms the Indiana Gaming Commission set for the approved merger between these parties last year.
Even so, Unibet has gained a foothold in Indiana’s resilient market since the post-pandemic sports schedule returned to full capacity. The Europe-based sports betting company has accumulated $ 10 million since it launched in July when the IGC releases its March figures next week and could top $ 2 million a month for the first time.
Additionally, Horseshoe Hammond is just a short drive from the city of Chicago, as are some Illinois casinos – less than an hour from The Loop if traffic is at the right time. It is not unreasonable to believe that some Illinois bettors who already have Unibet’s Indiana app would have added it to their smartphones if Unibet had been cleared to launch while Executive Order 2020-41 was in place.
“This is unfortunate news For customers in Illinois, a step in the opposite direction of what we consider to be the optimal setup – a seamless mobile experience, ”said Manuel Stan, general manager of the Kindred Group in the US, in an email to Sports Handle. “B.like on these, We will be re-evaluating our schedules for the Illinois launch. “
Is it a goose egg for theScore?
WATCH: @scorecommish joined @LizClaman to talk about everything #sportbetting including our big week of news (PGA TOUR OBO deal + Illinois Market Access agreement) and the recent US IPO on @ Nasdaq.https: / /t.co/0bAlyx6AOL
– Score Media and Gaming Inc. (@theScore_IR) April 2, 2021
TheScore, which also refused to comment on the governor’s decision, has not yet filed its application for a management services provider license with the Illinois Gaming Board. However, the Canada-based sports betting company could also be affected. At the end of last month she reached an agreement with Harrahs Joliet on access to the state and, like Unibet, has made a name for herself as a second skin on the Hoosier side of the state border.
While theScore will never reach the level of DraftKings that represent Ameristar Casino in east Chicago, it is impressive among Indiana tier two online operators. TheScore has had nearly $ 12 million in revenue since its inception in mid-September, with $ 2.2 million in each of the last three months.
Even if Pritzker lets the executive order forfeit, it is vital for theScore to file his motion as it does not take into account a stated desire to start in the second half of 2021. Sports betting applications don’t exist in a vacuum for processing, and the ITUC will be one of the busiest gambling regulators in the country for the foreseeable future.
The bill that legalized sports betting in June 2019 also enabled the creation of new casinos in six locations, as well as the expansion of horse racing tracks into racinos, the latter of which is underway in both Hawthorne with PointsBet and FanDuel on the formerly named Fairmount Park .
The IGB has already rated 815 Entertainment “Temporarily Eligible” for a Rockford casino, but that is only the first of many steps. Multiply that process by six, each with different components moving at different speeds, and the logistical challenges are remarkable.
Downtown Chicago is one of those six locations – and that process will be a huge undertaking once the city receives feedback from its RFP, which is expected to be released this month.
A shorter time to complete remote registration?
The main positive result of Pritzker’s repeated renewals of the Executive Order 2020-41 was that Illinois was realizing its potential as the top 4 sports betting market. The question now is whether the state can hold onto that status as Michigan and Virginia begin to make their respective advances in the mobile arena.
Another positive result seems to be a shorter time to complete remote registration, although it is unclear how much shorter it is. On Sunday, 10 months passed in the 540-day provision of the Sports Betting Act, which covers the issuing of the first sports betting licenses by the IGB, until it can only accept online sports betting license applications – probably on December 3rd.
From there, it could take another 90 days for the ITUC to announce the winners of this tendering process, although the law gives the Board room to extend this deadline. Personal registration remains effective until this online license is issued. While Rep. Mike Zalewski offered potential scope to “change the law,” it could be March 2022 before remote registration becomes available at the earliest without further intervention from the governor.
When BetMGM, Unibet, and theScore finally come to Illinois, there is no doubt that the sports betting market will continue to evolve. How much it develops might depend on your patience – or lack of it.