An emerging legal sports betting operator is launching business operations in a new market.
Circa Sports — a Las Vegas-based sports betting company — is planning to offer online betting sites in Kentucky, bringing the company’s total reach to five jurisdictions across America.
Circa, which opened its first brick-and-mortar sportsbook in 2019, has wagering licenses in Colorado, Iowa, Illinois, and Nevada. The company — owned by businessman Derek Stevens — is entering a competitive market.
“What we do differently than others is provide value to the wagering consumer,” Stevens told the Nevada Independent earlier this week. “We don't limit customers. We run our own model.”
Circa entering the Kentucky sports betting market follows a licensing agreement with ECL Corbin — an ECL Entertainment subsidiary. The agreement will see Circa offer its online sportsbook in the state through Cumberland Run racetrack and its sister satellite venue The Mint Gaming Hall.
The Kentucky Downs racetrack opened its doors to the public for the first time in July 2023.
Perfect timing
Circa is entering Kentucky within a month of the state authorizing both online and retail sports betting. The state went live with wagering on September 28, giving residents access to seven sportsbooks. The operators include BetMGM and Barstool Sportsbook — soon to be ESPN Bet.
The first day of wagering in Kentucky saw two million geolocation checks, per GeoComply. Gov. Andy Beshear’s office projects sports betting to generate $23 million in tax revenue annually.
Long awaited debut
Circa launching operations in the Bluegrass State comes after it went live in Illinois in September with retail and online sports betting. In May 2022, Circa submitted an application for a wagering license in the Land of Lincoln. It took until April 2023 for Circa to receive approval.
Circa faces stiff competition in Illinois from major sportsbooks, including FanDuel and DraftKings. Since 2020, the state has generated more than $2 billion in revenue from operators.
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