• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

PRESSLED

Your Leading News Source

PRESSLED
Your Leading News Source

  • Home
  • BUSINESS
  • MONEY
  • POLITICS
  • REAL ESTATE
  • US
  • Meet the Reporters
  • About/Contact

William Hill Sportsbook opens inside Capital One Arena

May 26, 2021 by Staff Reporter

The William Hill Sportsbook opened Wednesday inside the Capital One Arena in Washington, marking the first sportsbook to operate inside of a U.S. arena.

The development shows the “breathtaking” change in the relationship between sports leagues and team ownership and sport betting companies over the past several years, said Tom Reeg, CEO of Caesars Entertainment.

Other sports owners are watching closely to see if a similar model could be applied inside their arenas.

“This feels very natural to be in this building and to be able to walk into the arena and into a venue like this, to place bets, and I think you’re going to see this continue throughout the country,” Reeg said, in an interview with CNBC.

Smack dab in the middle of the nation’s power center, the two-story, 18,000-square-foot venue will serve as a 365-day-a-year destination for bettors. Gamblers will have access to up to 20 betting windows, and over a dozen self-serve kiosks to place wagers.

The Sportsbook also features a state-of-the-art broadcast studio that will host Monumental Sport’s “By the Book” sports betting show and the new facility boasts dining from Michelin-rated Chef Nicholas Stefanelli.

In the three years since the U.S. Supreme Court overturned the Professional and Amateur Sports Protection Act, the sports world has been turned on its head. The law, also known as PASPA or the Bradley Act, prohibited most states from offering legal sports wagering,

In 2017, NFL Commissioner Roger Goodell held a news conference after an owners’ meeting in Phoenix and doubled down on the league’s and owners’ opposition to legalization.

“I think we still strongly oppose legalized sports gambling,” Goodell said at the time. “The integrity of our game is number one. We will not compromise on that.”

Today, many of the same people that opposed sports gambling, see it as a new frontier, especially as pandemic-related financial losses continue to pile up. Sports teams have also found that betting not only brings in more cash, but more engaged fans.

Monumental Sports and Entertainment owns multiple Washington-area sports teams, including the Capitals and the Wizards. Its CEO, billionaire Ted Leonsis has pushed hard for sports leagues and owners to embrace legalized sports betting.

“You look around this Sportsbook,” Leonsis said. “It feels like day trading, right, for the millennial and Gen Z, very highly educated, highly compensated person that [can] come and buy season tickets — buy tickets for thousands of dollars — to now have a rooting interest in, to be able to come in and enjoy how all this data is presented. It’s very synergistic for the leagues and teams.”

The William Hill Sportsbook is the only new business to open in downtown Washington during the pandemic, and the money it has generated has helped boost the district’s revenue.

Caesars has a growing number of ventures inside athletic facilities. Its deal with the Arizona Diamondbacks gives it market access to mobile betting and exclusive sponsorship opportunities. Caesars has also finalized a multiyear agreement with Major League Baseball to become an authorized gaming operator of the league, in addition to its recent deal with the National Football League.

The partnership deals are part of a larger industry trend as professional sports leagues embrace sports betting. The National Basketball Association has made various deals with The Score, DraftKings, William Hill and MGM Resorts, among others.

And the NFL — whose commissioner was so staunchly opposed to legalized sports betting — now has three official gaming partners, DraftKings, FanDuel and Caesars.

In February, the NHL added its fourth sports betting partner with PointsBet, taking a equity stake in the company.

“The reality is you’ve got to adapt to the way your customer wants to consume your product, and sports betting really fits where the world is today. … We want constant activity, constant action, and sports betting feeds right into that,” said Reeg.

>>>ad: Don't Miss TODAY'S BEST Amazon Deals!

Originally Appeared Here

Filed Under: BUSINESS, MONEY

Primary Sidebar

More to See

Former Georgia Tech Kicker Harrison Butker Sends Kansas City To The Super Bowl

Harrison Butker is going to be playing for another Super Bowl with the Kansas City Chiefs.Butker nailed the game-winning field goal to send the Chiefs … [Read More...] about Former Georgia Tech Kicker Harrison Butker Sends Kansas City To The Super Bowl

Stock Market Opening News Today

Sensex, Nifty Open: आज अडानी ग्रुप शेयरों में बिकवाली जारी है. वहीं बैंक और फाइनेंशियल सेक्‍टर के हैवीवेट शेयरों ने भी बाजार को कमजोर किया है. Sensex, … [Read More...] about Stock Market Opening News Today

Henry Bott Now President of Swire Properties US

One of Hong Kong’s best known conglomerates leads this week’s set of personnel updates on Mingtiandi as Hong Kong’s John Swire and Sons announces new … [Read More...] about Henry Bott Now President of Swire Properties US

Privacy Policy | Terms and Conditions | About/ Contact
Copyright © 2023 · PRESSLED · As Amazon Associates we earn commissions from qualifying purchases · Log in

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT