Capitals owner: “Everyone is watching what we do”
The American Gaming Association held an event last week that the organization hopes will help kick-start the nascent U.S. sports betting market, as top representatives of stakeholders including sports book platform suppliers, operators and even sports franchises gathered for the first Sports Betting Executive Summit at MGM National Harbor outside of Washington, D.C.
Speakers included National Hockey League Commissioner Garry Bettman, MGM Resorts International Chairman Jim Murren, DraftKings CEO Jason Robins, and Ted Leonsis, chairman, majority owner and CEO of Monumental Sports & Entertainment, owner of the NHL’s Washington Capitals and the NBA’s Washington Wizards.
“Getting out of the gate is very important,” Leonsis told the gathering. “Everyone is watching what we do. We have to be exemplary in what we do.”
Other speakers included Joe Asher, CEO of William Hill; Greg Carlin, co-founder and CEO of Rush Street Gaming; and Lou Jacobs, Co-CEO of Delaware North, which owns and operates Boston’s TD Garden, home of the NBA’s Boston Celtics and the NHL’s Boston Bruins.
Delaware North’s Jacobs said the industry is at “a watershed moment” for sports and gambling.
“Both industries are coming together,” he said according to CDC Gaming Reports. “We’ve all heard the league’s and gaming industry’s arguments, but that’s in the past. We need to focus on the future. That’s a game changer.”
The day-and-a-half executive conference focused on building the best possible sports betting ecosystem for the sector to expand in the U.S. Technology, the betting consumer, the market, and the future of payments were all on the agenda.
The Summit occurred as dozens of states consider bills to legalize sports betting in the wake of the U.S. Supreme Court’s striking down the Professional and Amateur Sports Protection Act last May.
It also took place as March Madness moved into high gear. The AGA estimates that $8.5 billion will be bet on the current NCAA tournament brackets, divided among legal and illegal bets. AGA predicts that 18 million people will wager $3.9 billion at a sports book online, with a bookie or with a friend; $4.1 million will place a bet at a casino sports book or using a legal app, while many of the others will opt for illegal wagers.
One session at the conference featured fireworks when DraftKings CEO Jason Robins pointed at William Hill US CEO Joe Asher and said that the problem with the industry were “people like you.” The two companies are emerging as rivals. William Hill has a presence in seven of the eight legal sports betting states. DraftKings is only in two states—New Jersey and Mississippi—but dominates the New Jersey market.
