Speaking to CNBC News, Mark Frissora Group President & CEO of Caesars Entertainment has stated that his firm is reviewing all options with regards to competing within a US state-licensed sports betting framework.
Frissora and Caesars’ executive team welcomed ‘with excitement’, last week’s groundbreaking Supreme Court repeal of PASPA’s federal mandate, which will open US licensed sports betting.
Caesars leader believes that his firm holds the ‘best position to take advantage of SCOTUS ruling’, having operated casino-integrated sportsbooks within its Nevada properties for a number of years.
Furthermore, Frissora details that Caesars ‘enhanced digital focus’, which has seen the casino operator launch a number of mobile platforms, merging land-based customer engagement with digital content/dynamics, as a significant advantage over its US competitors.
“We have been doing this for a while, and we are excited by this opportunity. We believe that we can develop the best in-play engagements and software experiences for US customers”. Frissora details.
Moving forward, Frissora has called for all industry stakeholders to eliminate the illegal US sports betting market, which is estimated by the American Gaming Association to have generated a ‘$150 billion handle’.
The repeal of PASPA comes at a time when Frissora and his new executive team seek to revamp and diversify Caesars business proposition at a global scale.
Having navigated Caesars Entertainment through its complex two-year bankruptcy restructuring, Frissora seeks to rebuild the US legacy operator ‘beyond the Vegas strip’.
Acting fast on state-licensed sports betting may well offer Caesars a trump card in its $ multi-billion competition against Las Vegas Sands, MGM and Galaxy Entertainment.
“We have a strong balance sheet and position to enable us to pursue and implement this kind of development. We’re working to create the future of gaming and we’re ready to win.”