Le Lézard
Classified in: Tourism and vacations, Sports and recreation
Subject: LEG

ArizonaCasinos.com Projects $252 Million Sports Betting Market In The Grand Canyon State


SCOTTSDALE, Ariz., April 19, 2021 /PRNewswire/ -- Following the passage of Arizona's sports betting bill (House Bill 2772), ArizonaCasinos.com projects that the state at full maturity could produce $252 million in annual revenue. Using the minimum tax rate of 8% outlined in Arizona's bill, that projection would yield $20,160,000 in yearly tax revenue for the state General Fund.

Under Arizona's landmark sports betting bill, up to 20 different sports betting operators could offer betting platforms in the Grand Canyon State. Tribal casinos, sports franchises, and sporting venues in the state will all be eligible to apply for operating licenses.

Geoff Fisk, Senior Analyst for ArizonaCasinos.com, said, "Arizona has all the pieces in place to evolve as a successful sports betting market. Phoenix is one of the best sports cities in the US, and the state hosts a thriving tribal casino industry. Lawmakers went all-out in the effort to make Arizona a major sports betting hub. With 20 licenses up for grabs, we'll see all of the biggest names in the industry want a piece of the Arizona market.

The $252 million annual revenue projection was reached through careful analysis of other US and international sports betting markets. Though 20 licenses will be allowed by Arizona's law, it coil take multiple years for every license to be granted. In the first 6-12 months of Arizona sports betting, ArizonaCasinos.com projects 8-12 licenses will be granted, allowing operators to launch quickly in response to final regulations.

Sportsbook operators are already gearing up for an Arizona launch. FanDuel announced a partnership with the Phoenix Suns NBA franchise, which includes plans for retail and online sports betting. DraftKings partnered with the PGA Tour and announced plans to build a retail sportsbook at TPC Scottsdale in addition to launching an online platform.

Fisk continued: "The professional sports partnerships make so much sense. Arizona's franchises are fully embracing sports betting, and those fan bases will do the same. That effect will boost the state's industry as a whole, including the mobile-only sportsbooks operated by the tribal casinos."

Contact: Cole Rush, PR Lead, Cole.Rush@i15Media.com

About ArizonaCasinos.com:
ArizonaCasinos.com provides objective, comprehensive guides to legal online gambling options in Arizona.

The content we publish is all original, created by our experienced team of writers, researchers, and sports betting experts.

SOURCE ArizonaCasinos.com


These press releases may also interest you

at 17:05
BRP Inc. will hold its first quarter FY2022 financial results conference call on Thursday, June 3, 2021, followed by its Annual Meeting of Shareholders. José Boisjoli, President and Chief Executive Officer, and Sébastien Martel, Chief Financial...

at 16:47
Celerium Inc. announced today it is partnering with the Retail and Hospitality ISAC (RH-ISAC) to support the EX-RH2021 cybersecurity exercise happening in June 2021. Celerium will provide EX-RH2021 participants with complimentary access to a...

at 16:44
TAT Technologies Ltd. ("TAT" or the "Company"), a leading provider of products and services to the commercial and military aerospace and ground defense industries, reported today its unaudited results for the three-month period ended March 31, 2021....

at 16:31
Exchange Income Corporation ("EIC" or the "Corporation") a diversified, acquisition-oriented company focused on opportunities in the aviation, aerospace and manufacturing sectors, reported its financial results for the three-months ending March 31,...

at 16:08
Airbnb, Inc. has posted a shareholder letter containing its first quarter 2021 financial results on its Investor Relations website at https://investors.airbnb.com....

at 16:05
Pollard Banknote Limited today announced that its Board of Directors has declared a cash dividend of $0.04 per Common Share for the period from April 1, 2021 to June 30, 2021.  Payment will be made on July 15, 2021 to shareholders of record on...



News published on 19 april 2021 at 11:00 and distributed by: