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.
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"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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