With authorization from the Puerto Rico Gaming Commission (PRGC), Casino del Mar at La Concha Resort has become the first 18+ sportsbook location on the island. In partnership with BetMGM, the casino opened its doors to bettors just in time for the Super Bowl.
“We are very excited to kick off sports betting at Casino del Mar through this important strategic alliance with BetMGM. In Puerto Rico, there is a wide base of sports fans who will now add the possibility of becoming winners to the excitement of their favorite sports games and matches.”
Casino del Mar General Manager, Sigfrido de Jesús
And while wagering at the luxury resort casino is an experience of its own, bettors from Bayamón to Mayagüez can get in on the action from their mobile device. The process is just a little more complex than usual.
Interested bettors have to make their way to Condado to make accounts in person if they want to play. But that won’t be the case for long as the PRGC is still in the licensing process with most of the island’s casinos.
Puerto Rico’s 18+ Gambling Landscape
Bringing sports betting to Puerto Rico hasn’t been an easy task. The island’s government has seen several administrative changes since the 2019 mobile gambling measure was passed.
In less than three years, the commonwealth of Puerto Rico has cycled through three governors and dealt with a slew of political unease. And though sports betting had been put on the backburner for good reason, the island’s casinos have long needed revitalization.
Sportsbook licensing applications were made available in November of last year. Eligible operators are subject to a 20% revenue tax, most of which is used to fund the island’s retirement system.
Additionally, operators must pay annual licensing fees to remain in operation. Depending on the size and scale of the sportsbook, the PGRC will charge a minimum of $2500 and a maximum of $50,000.
Puerto Rico Changes Its Focus
No other sportsbook operator has been announced as of yet. But with the recent green light for the construction of three more 18+ casinos, you can bet that Puerto Rico is finally prioritizing its gaming sector.
Some speculate that the success of mobile sportsbooks will spur legislative action in favor of digital casinos. Casinos in the US reported having had their greatest fiscal year of all time, raking in an impressive $53 billion nationwide.
Moreover, the taxes from casino revenues have gone to support social programs in dire need of financial aid. For Puerto Rico, tax revenues from sports betting, alone, are projected to generate upwards of $20 million.
The local economy will also see a boost in tourism as vacationers flood in to set their bets from the beach.
All-in-all, the future of betting looks bright in Puerto Rico.
Source: PR Newswire, AP News