ZenSports barely won approval as the newest casino owner when the Nevada Gaming Commission on August 19 voted yes to running Big Wheel Casino in Lovelock. In addition, ZenSports will operate, but not own, the sportsbook at Baldini’s Sports Casino in Sparks.
As early as 2022, ZenSports hopes to accept cryptocurrency and offer peer-to-peer sports wagering. Neither of those options is currently allowed in Nevada and will need Commission approval, according to CDC Gaming Reports.
ZenSports is buying the Big Wheel Casino from Strategic Gaming Management, which also owns Baldini’s. Big Wheel serves truck drivers and miners with 48 slot machines, but no sportsbook.
Commissioner Rosa Solis-Rainey voted no instead, hoping ZenSports would improve its application due to its lack of funding and experience.
“I’m not prepared to support it with what we have in front of us,” Solis-Rainey said. “We basically have one person who has a significant amount of experience. They don’t have the resources to adequately staff now (for compliance).”
Commissioner Steven Cohen had reservations but preferred to give Zen a chance.
“I’m still concerned about your financing. One thing that gives me comfort is you have no debt. You’ve got two years to get this done right; shore it up, get a compliance committee, and get your financing.”
In June, ZenSports ended operations in 10 countries to concentrate on the American market.
Company CEO and founder Mark Thomas, who has a background in real estate and software, said the company has a little less than $1 million in funding, but will be raising more.
“We have plans to raise millions and millions of dollars in the very near future and it’s not going to be any problem to raise those funds,” Thomas said.
Commission Chairman John Moran said what makes the licensing noteworthy is this is not a big company, but one with only 15 employees. He said the two-year licensing will give them a chance to perform “and show us what they’re all about.”
