Arizona will soon welcome a new sportsbook with PointsBet tying up an exclusive 10-year sports gambling partnership with Cliff Castle Casino Hotel.
PointsBet Makes Foray into Burgeoning Arizonian Sports Betting Market
Australian sportsbook PointsBet is stepping up its expansion efforts in the US as its PointsBet Arizona LLC subsidiary entered into an exclusive strategic agreement with Cliff Castle Casino Hotel, giving the company market access to the state, which has recently launched its sports gambling industry.
Owned by Yavapai-Apache Nation, Cliff Castle Casino Hotel is an ideal partner for PointsBet, as the sportsbook seeks to grow its footprint in the US and bring more viable market choices for sports betting enthusiasts. The market is potentially one of the largest, with its 7.3 million residents and located next to California, giving it a potential stream of out-of-state sports bettors.
Following the legalization of sports gambling in Arizona earlier this year, Gov. Doug Ducey and legislators have agreed to introduce as many as 20 sports betting permits, allowing tribal casinos and professional sports franchises to start applying for gambling licenses.
PointsBet USA CEO Johnny Aitken was excited about the new partnership struck between his company and Cliff Castle. “PointsBet is thrilled to begin the process toward offering the passionate, sports-loving communities of Arizona a fast and differentiated sports betting product across every customer touchpoint,” Aitken stated.
He confirmed that PointsBet is interested in introducing a responsible sports betting product that brings the company’s competitive advantages to the market, including technological expertise alongside what he described as the “deepest slate of betting options” worldwide.
Teaming up to Take Arizona Sports Betting by Storm
The partnership will last for ten years, subject to potential renewal if both parties agree. PointsBet will seek to operate an online sports betting skin through its dedicated website and mobile platforms, bringing sports fans a fulfilling experience across the board that is not tied down to a physical location.
PointsBet will pay a market access fee to the Yavapai-Apache Nation, as well as offer a part of its net gaming revenue from sports gambling operations. The company will also allow its tribal partner to run the sportsbook at the Cliff Castle Casino Hotel while PointsBet will work on marketing and raising awareness about its brand.
The sportsbook will additionally cover any licensing and regulatory fees associated with the issuance of permits and launch. To sweeten the deal, PointsBet has agreed to make voluntary donations to a public interest fund picked by the Yavapai-Apache Nation.
PointsBet is hardly the only company looking for an entry into the highly-promising Arizonian market. WynnBet has inked a new partnership with the San Carlos Apache Tribe, pursuing a similar market-entry deal.