Casino del Mar at La Concha Resort Announces Puerto Rico Market Access Agreement with BetMGM
Casino del Mar at La Concha Resort has partnered with BetMGM to expand sports betting in Puerto Rico. This marks BetMGM's first market access agreement outside the U.S. mainland, subject to regulatory approval. Sports betting will be available both retail and online, with plans to launch a retail sportsbook and the BetMGM mobile app. Officials express this partnership's potential to enhance local tourism and the economy. BetMGM aims to provide responsible gaming resources as it grows into new markets.
- First market access for BetMGM outside the U.S. mainland.
- Enhancement of local tourism and economic growth in Puerto Rico.
- Introduction of both retail and mobile sports betting options.
- None.
SAN JUAN, Puerto Rico, Sept. 2, 2021 /PRNewswire/ -- Casino del Mar at La Concha Resort and BetMGM, a leading sports betting and iGaming company, announced today that they have agreed to a strategic partnership. Subject to regulatory approvals, BetMGM will expand its retail and mobile sports betting offerings to Puerto Rico, signifying the company's first market access agreement outside of the U.S. mainland.
"Paulson & Co. is always in search of innovation in services and entertainment for our properties and guests, that is why we are very excited for this agreement between Casino del Mar at La Concha Resort and BetMGM. Sports are part of the everyday life in Puerto Rico, with a huge following and a passionate fan base in almost every sport. As such, it's natural that we are the first market outside the continental United States in which our guests will be able to place bets with BetMGM. We are looking forward to a long and successful endeavor with BetMGM," said John Paulson, President, Paulson & Co.
Sigfrido De Jesús, General Manager, Casino del Mar at La Concha, said, "At Casino del Mar at La Concha Resort we strive every day to provide the best gaming experience on the island and this new venture alongside BetMGM is a great example of this. Sports fans in Puerto Rico will now add excitement to their pastime with the possibility of winning more than just a game by their favorite team. BetMGM is the perfect addition to our cutting-edge gaming offerings with high-tech slot machines and card tables, available 24/7 at our casino."
As part of the agreement and subject to regulatory approvals, BetMGM will offer both retail and mobile sports betting, with the opening of a retail sportsbook at the San Juan-based beach resort and the launch of the BetMGM mobile app throughout Puerto Rico. BetMGM and La Concha Resort expect to offer sports betting capabilities as soon as the regulated market commences in Puerto Rico.
BetMGM CEO Adam Greenblatt said, "This marks a major milestone for BetMGM, as we share plans to bring our sports betting platform outside of the U.S. mainland for the first time. La Concha Resort is an ideal partner, and together we look forward to bringing BetMGM's retail and mobile sports betting experiences to sports fans across Puerto Rico."
Carlos Mercado Santiago, Executive Director of the Puerto Rico Tourism Company, said, "The Puerto Rico Tourism Company is looking forward with great anticipation to the entertainment opportunities that this new relationship will create for residents and visitors alike as well as its positive impact on Puerto Rico's economy. One of the elements that makes our island a top-class destination that delivers an unequalled visitor experience is its ability to continually diversify by incorporating new options and trends such as sports betting and online gaming."
Orlando A. Rivera Carrión, Executive Director, Puerto Rico Gaming Commission, said, "The Government of Puerto Rico welcomes this partnership for the economic development of our island. This new project will promote and encourage the growth of the gaming industry in Puerto Rico, all while implementing a public policy that encourages the development of new jobs and maximizing the income and resources of the Government of Puerto Rico. I trust in the success of this partnership and reiterate my total commitment to this initiative."
As BetMGM continues to expand to new areas, responsible gaming education remains a key focus. BetMGM is proud to provide resources to help customers play responsibly. For more information on BetMGM, follow @BetMGM on Twitter.
About BetMGM
BetMGM is a market leading sports betting and gaming entertainment company, pioneering the online gaming industry. Born out of a partnership between MGM Resorts International (NYSE: MGM) and Entain Plc (LSE: ENT), BetMGM has exclusive access to all of MGM's U.S. land-based and online sports betting, major tournament poker, and online gaming businesses. Utilizing Entain's US-licensed, state of the art technology, BetMGM offers sports betting and online gaming via market leading brands including BetMGM, Borgata Casino, Party Casino and Party Poker. Founded in 2018, BetMGM is headquartered in New Jersey. For more information, visit https://www.betmgm.com/.
About La Concha Resort
La Concha Resort, a spectacular landmark in modern Caribbean architecture, has 248 oceanfront rooms and a tower of 235 suites. The gastronomic offer includes Solera, Sereno Bar & Grill, The Loft, Aroma, Lobby Lounge, Komakai Sushi Bar and Serafina San Juan. All facilities have free high-speed Internet. The hotel has a modern oceanfront gym, the newest casino in the Caribbean and Fifty-Eight Club for adults only. For reservations and additional information, you can call (787) 721-7500 or visit www.laconcharesort.com.
About Casino del Mar
Casino del Mar offers a safe environment of pure entertainment 24 hours a day, 7 days a week. It has the most modern and constantly renewed product in all of Puerto Rico. For more information you can call (787) 977-3210 or visit https://casinodelmarpr.com/.
About Paulson & Co. Inc.
Paulson, founded in 1994, is an investment management firm headquartered in New York. The firm invests in public and private market securities across different sectors and industries.
Statements in this release that are not historical facts are "forward-looking" statements and "safe harbor statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and/or uncertainties, including BetMGM's ability to grow in new or existing jurisdictions. Management has based forward-looking statements on current expectations and assumptions and not on historical facts. Among the important factors that could cause actual results to differ materially from those indicated in such forward-looking statements include the effects of economic and market conditions in the jurisdictions in which BetMGM operates, competition with other iGaming and sports betting platforms, the timing and costs of expanding in new jurisdictions as well as obtaining and maintaining the required permits, licenses, financings, approvals and other contingencies in connection with growth in new or existing jurisdictions. In providing forward-looking statements, BetMGM is not undertaking any duty or obligation to update these statements publicly as a result of new information, future events or otherwise, except as required by law. If BetMGM updates one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those other forward-looking statements.
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SOURCE BetMGM
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