On Tuesday, the Arizona Department of Gaming (ADG) announced it had authorised Bet365 for an event wagering licence through a market access agreement with the Ak-Chin Indian Community, a federally recognised tribe and one of the state’s 20 licence holders.
This marks the seventh state in which Bet365 has received a licence. The operator is already live in Ohio, Virginia, New Jersey, Iowa and Colorado.
Also on Tuesday, Bet365 announced it had begun its pre-registration period in Kentucky with an eye towards a 28 September launch. This comes after receiving a temporary licence to operate in the Bluegrass State the week prior.
Bet365 will take the place of Fubo Sportsbook, which had previously operated in the state through Ak-Chin’s licence. In October 2022, the streaming provider announced it would be closing its sportsbook with immediate effect.
The rise of Bet365?
The Denise Coates-led operator has long been considered the dog which didn’t bark in its lack of involvement in the US sports betting boom.
However, five years on from the repeal of the Professional and Amateur Sports Protection Act (PASPA) by the Supreme Court, this appears to be changing.
In Ohio, the business reported it received the third highest revenue in July 2023, beating out both BetMGM and Caesars Sportsbook, the third and fourth highest earning sportsbooks by US revenue respectively.
Remaining licences remain unfilled
The ADG had initially been seeking three new operators to launch in the state after announcing it would be accepting new applications on 30 June. In addition to the one remaining tribal licence, this includes two licences available through partnership with an Arizona sports team.
Another licence may also be open soon. This follows the closure of Wynn Resorts-operated WynnBet in eight states including Arizona. The operator received its licence in 2021 through a partnership with the San Carlos Apache Tribal Gaming Enterprise.
Original article: https://igamingbusiness.com/legal-compliance/licensing/bet365-arizona-licence/
