It indicates to the Gaming Commission the scope of work ahead in preparation to launch an application and licensing process. This comes after the Commission reached out to entities to issue a non-binding notice of intent. The purpose of this was to establish a contact point between regulators and companies in developing the newly legal industry. However, the submission of interest is not a requirement in applying for a license.
Challenges Arising from Massive Interest
The challenge arises as there are 42 interested companies with only 15 slots available. This goes beyond the limited slots as some of the companies were already known since the state’s two casinos, two simulcast centers and one slots parlor met with the Commission to detail plans on providing legal wagering. Some of the interested parties include Novomatic and Sportradar.
Others such as WynnBet, Penn Interactive (Barstool Sportsbook), and BetMGM are assured of a license due to their associated land-based casino. The two-state racetracks applied for licenses with the possibility of partnering with an outside operator. This potentially narrows down the list to 36 operators seeking the remaining 12 licenses. When you consider market access deals, it could be as lower than 12.
Penn’s 2019 Skin Deal with Flutter’s The Star’s Group
Penn signed various deals in 2019, including DraftKings, PointsBet, The Stars Group (currently part of Flutter), and TheScore (currently, part of Penn). It involved a 20-year deal in offering up its second skin in Massachusetts to Flutter’s The Stars Group. This enabled FanDuel to the state. It is essential to note that Flutter’s other US sports betting brand, Fox Bet, was not included in the list of Massachusetts applicants. Additionally, many expect that DraftKings, the state’s homegrown business, acquire a license without a partner leaving only 10 licenses with 34 brands battling it out.
Reputable names left on the list of Applicants These include:
- Caesars Sportsbook