BetMGM and Emerald Queen Casino Partnership
BetMGM is one of the leading sports betting and iGaming operators as they extend another partnership to expand their brand. This is an exclusive partnership with the Puyallup Tribe of Indians. This comes after the Washington State Gambling Commission approved the sports gambling licensing agreement over the summer.
In March 2020, Gov. Jay Inslee signed bipartisan legislation setting the framework for sports betting at Tribal Casinos, which was frowned upon years before. At that given time only 16 of the 29 tribes federally-recognized tribes had already applied for a sports wagering license.
Washington State Makes Its Presence in the Sports Betting Industry
Sports betting is now making its presence in Washington State and the Emerald Queen Casinos will operate at the Fife and Tacoma properties pending approvals. BetMGM at the EQC Sportsbook location in Tacoma will be home to six betting windows and 30 kiosks.
This specific location has spent a lot of time making the fan and guest experience their top priority as the technology will catch the bettors’ attention. Those wanting to watch the live-action will have the opportunity to watch from a dozen 86″ high-def TVs and a 500+ square foot LED Wall. The area will have 2,100 slots, more than 60 table games, 155 hotel rooms and suites, six dining venues, and a 1,800-seat event center.
The EQC Fife will feature 22 kiosks in its location. It will have 2,300 slots, 103 hotel rooms, and a 25,000 square foot multi-purpose conference center.
Emerald Queen Casino first opened as a riverboat on the Port of Tacoma Waterway in 1996.
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BetMGM CEO Adam Greenblatt stated,
“Today’s announcement marks another key moment in the expansion of BetMGM as we extend our western footprint into Washington,… The Puyallup Tribe and Emerald Queen Casino are ideal partners for us as they represent the same high-level of service, amenities and experiences that is built into our DNA at BetMGM.”
The Pacific Northwest has been waiting for the moment to become a member of the sports betting industry. BetMGM may be one of the leaders as they have exclusive market access with the Puyallup Tribe of Indians to operate through the Emerald Queen Casino.
BetMGM did not disclose when the two locations will be available to the public. Emerald Queen Casino’s released a tease that betting on football, basketball, hockey, mixed martial arts will be available hopefully before the end of Fall 2021.
Looking Forward to the Future
During the second quarter of 2021, MGM revenue was up 19 percent, which adds up to $194 million. Compared to last year, this was an impressive gain as MGM had $178 million in revenue in all of 2020.
This is very positive news as the renowned brand is looking to gain more momentum. BetMGM is very optimistic about its growth as the brand expects more than $1 billion in 2022. Prices of its shares have also gone up 41.3 percent over the course of a year compared to an industry decline of 4.5 percent during the same time due to the pandemic. There is more optimism for the stock as the year progresses as their partners in Macau will continue to invest in the company.
However, the company has expressed the importance of gaming education and responsible gambling as many have struggled due to many different circumstances. The company is offering many ways to help customers should a problem arise.
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