The Arizona Department of Gaming has granted event wagering operator licenses to Sporttrade and Plannatech, expanding the state’s sports betting market. The licenses will enable both companies to partner with local tribes for sports betting operations.
Sporttrade will collaborate with the Quechan Indian Tribe of the Fort Yuma Indian Reservation, while Plannatech will team up with the San Carlos Apache Tribal Gaming Enterprise.
Sporttrade already operates in New Jersey, Colorado, and Iowa. In Iowa, the company generated $1.1 million in handle and posted a 9.7% hold in its first two months. In New Jersey, it accumulated $390,500 in revenue in the first six months of 2024.
According to the Philadelphia Business Journal, Alex Kane, CEO of Sporttrade, said: “I’m more convinced than ever that the kind of betting that we are defining or discovering, or trying to attach our brand to, is going to be a larger and larger part of the U.S. ecosystem.”
📢 TODAY: ADG has allocated an event wagering operator license to Plannatech as the designee for the San Carlos Apache Tribal Gaming Enterprise, and to Sporttrade as the designee for the Quechan Indian Tribe of the Fort Yuma Indian Reservation.
More here: https://t.co/8B7dwJOg22 pic.twitter.com/Tn9uHgIWRk
— Arizona Department of Gaming (@AzGaming) August 2, 2024
Plannatech, incorporated in the UK in 2015, provides technology services and risk management for Prime Sportsbook in New Jersey and Ohio. COO Adam Bjorn said: “This opportunity came around fast, and the approval even faster.” Plannatech is expected to launch under the Prime Sports brand in Arizona.
Arizona’s sports betting market has seen substantial growth, surpassing neighboring Nevada in handle for April and May. The state reported over $3.3 billion in wagers in the first five months of 2024, with 99% of bets placed via sports betting apps. The addition of Sporttrade and Plannatech brings the total number of mobile betting options in the state to 18.
The departure of previous operators Unibet and WynnBET created openings for the new entrants. WynnBET, which ranked seventh among 20 operators in Arizona before exiting, officially left the market in February after handling more than $202 million in bets.
The recent licensing process aimed to maintain the balance of 10 licenses held by professional sports teams and eight by tribal nations. Arizona continues to perform strongly in the sports betting arena, achieving a record-breaking handle of $759.8 million in March 2024.
Original article: https://www.yogonet.com/international/noticias/2024/08/05/74340-arizona-expands-sports-betting-market-with-sporttrade-and-plannatech-licenses
