The US territory is now moving forward with more licenses issued by the Puerto Rico Gaming Commission. The news was confirmed by the regulator’s executive director, Jaime Rivera-Emmanuelli who welcomed the opportunity to add yet more licensed operators to the fledgling regional betting industry.
More Sportsbooks Join Puerto Rico’s Sports Betting Landscape
As noted, BetMGM obtained its first license in early June along with Casino del Mar at La Concha Resort. Now, the new companies to have secured entry are Casino Metro, which is operating in conjunction with Caesars Entertainment and Stadium, which is trading as Winning, which will leverage the IGT betting platform. Commenting on the new entries and additions, Rivera-Emmanuelli had this to say:
With these three operations, we officially begin a new stage of sports betting in Puerto Rico, and with it, we will see the growth of this market, which will generate tourism activity, economic benefits, and solid revenue for the government, among others.
Puerto Rico Gaming Commission Executive Director Rivera-Emmanuelli
This puts the total number of licenses issued by the Puerto Rico Gaming Commission to 30. Five of those are direct operator licenses – meaning the companies that will be running sports betting operations. The other 25 have gone to various suppliers who will be helping with the technological infrastructure.
This puts Puerto Rico in a good position with the regulator expecting the commonwealth to collect $4 million in tax revenue during the next fiscal year. This is precisely the sentiment shared by Rivera-Emmanuelli who is confident about the future of sports betting in Puerto Rico.
Featuring All Sorts of Events to Bet On
He has hailed events such as the Super Bowl as drivers of entertainment and excitement for sports fans, something that Puerto Rico would also benefit from. There are other markets to explore, though, as the commonwealth has taken a proactive approach and is looking to include events such as Miss Universe and the Oscars, for example.
The regulator is also confident that sports betting sites have a very high level of security which will guarantee the fairness of every bet placed and selection made. Rivera-Emmanuelli has also spoken about the convenience and ease of use of interactive bets, which will enable Puerto Ricans to place intuitive bets on the go rather than having to go to a location and bet there.
Puerto Rico’s sports betting industry is already gathering momentum with BetMGM already live, and others to follow soon enough.