Electronic sports betting officially takes off in Puerto Rico
The Puerto Rico Gaming Commission granted the first sports betting operator license that will allow online betting for the first time on the island, Orlando Rivera the regulatory body’s executive director, announced.
The first property to receive its gaming license is the Casino del Mar at the La Concha Resort in Condado. The license is temporary and was granted as part of the upcoming Super Bowl this Sunday, he said.
“We granted a provisional license to a company that has complied with all the Commission’s requirements with the intention to use an international event such as the Super Bowl as the spearhead of a new industry in Puerto Rico,” said Rivera.
So far, the casino is the only commercial establishment that has requested the license and complied with the delivery of all the documentation required to get the legal authorization to be an online betting operator. He explained that the entity is in the process of receiving the final license.
“Sports betting represents a new business model for everyone on the island, especially for the capital city, which will be the first municipality with this type of activity,” he said. “This will represent an important collection for the treasury and an economic flow for local businesses.”
The official stated that industry’s potential revenue is estimated at $30 million annually, once the operators that are expected to join the industry are confirmed. There could be about 10 over the course of the next year, he said.
“This new business model will create jobs and commercial spaces for the enjoyment of the public. We remain committed to monitoring the new betting modalities in Puerto Rico in accordance with international development. We predict a great launch and success for sports-betting at Casino del Mar and Puerto Rico,” Rivera said.
As a regulatory and supervisory body, the Gaming Commission will guide the new betting modality in Puerto Rico and ensure that the betting activity complies with all legal parameters, he said.
Meanwhile, he confirmed that there are leagues that have shown interest in these bets, namely the Puerto Rico Superior Basketball League and the Professional Baseball League.
Casino del Mar signs up spokesman
In related news, the Casino del Mar announced that Puerto Rico entertainer, producer, and businessman Jorge Pabón, better known as “Molusco,” has signed up as the ambassador of the sports betting and digital gaming service BetMGM and Casino del Mar.
“We welcome Molusco to Casino del Mar, as spokesperson for BetMGM, the first sports betting service in Puerto Rico. Starting this Friday and throughout the weekend we will be celebrating this partnership with events at La Concha Resort while we count down to the Big Game on Sunday,” said Sigfrido de Jesús, general manager of Casino del Mar.
“Also, from Friday on, the public will be able to place bets on their favorite sports and teams and try their luck, in an easy and accessible way, at Casino del Mar,” he said.
Casino del Mar partnered with BetMGM in September 2021. This alliance is BetMGM’s first market access agreement outside of the US mainland, enabling BetMGM to expand its mobile and retail sports betting offerings to Puerto Rico.
BetMGM will maintain both a Sportsbook at Casino del Mar and later, the mobile application will be accessible allowing people to place bets from anywhere on the island.
To use the BetMGM sportsbook, the person must be a member of Casino del Mar, which is free and requires a photo ID and to be 18 years of age or older.
Once the Casino del Mar membership is registered, a profile must be created on the BetMGM platform which will allow access to the sports catalog and multiple betting options, based on the specifications of each sport.
Bets are made directly at the Casino del Mar or at the BetMGM kiosks, located at the entrance to the casino, where details of the matches to be held will be made available daily so that the public can select their favorites and place their bets.