Nearly half of the possible sportsbook operators in Maryland saw their diversity plans approved by the Maryland Sports Wagering Application Review Commission (SWARC) at last week’s meeting.
Though sports betting licenses were already awarded, SWARC passed an amendment in September 2023 requiring those doing business in the state to provide a diversity plan.
Though not legally obligated to do so, since they already had the license, the companies adhered to the new policy.
Commissioners at SWARC were looking for specifics from sportsbook officials regarding creating a diverse ownership group. They also wanted timelines to reach that objective.
The 10 companies that presented their plans were quickly approved. They include: BetRivers, BetMGM, DraftKings, Caesars, betPARX, Betfred, PointsBet, FanDuel, Fanatics, and Barstool.
“It’s been a long couple of years to get to this point, and I think we’ve got some real substance in those plans,” SWARC Chairman Thomas Brandt Jr. said at last week’s meeting. “Now it’ll be on us to monitor that the execution matches the plans.”
Some lawmakers wanted the diversity plan included in the licensing process. That didn’t happen, though any new applicant for a mobile sports betting license will have to provide a plan.
Two more plans from sportsbooks, BetWynn and Bally Bet, will present their plans at the February SWARC meeting. All approved plans will be available to view on SWARC’s website at an undetermined date.
Eight more sportsbook operators could be live in the state by the end of the year.
Lawmaker Darryl Barnes, who chairs the Legislative Black Caucus of Maryland, said this was a step in the right direction.
“It’s something that we can work towards,” he said. “When that application or plan is submitted, it should and must have that equity partner already listed, what the intent is and how [an applicant is] going to move forward and put it together.”
