BetMGM secures strategic sports betting partnership with Revolutionary Racing Kentucky
BetMGM, a prominent player in the sports betting industry, has solidified a strategic partnership with Revolutionary Racing Kentucky (RRKY) to venture into Kentucky’s sports betting market.
Shaking up the sports betting landscape
This significant agreement opens the door for BetMGM to introduce both mobile and retail sportsbook services in the Commonwealth. As the eagerly awaited regulated market in Kentucky is slated to commence next month, BetMGM’s collaboration with RRKY is set to become its 27th market launch within the United States, subject to the acquisition of necessary licences.
BetMGM’s CEO, Adam Greenblatt, shared insights into the company’s motivation for this partnership. He highlighted Kentucky’s deep-rooted sports history and fervent fan base, expressing his enthusiasm for the alliance with Revolutionary Racing, which would not only provide an engaging and responsible gaming experience but also contribute to the state’s economic growth through job opportunities and tax revenue.
“Revolutionary Racing is an ideal partner, enabling us to deliver an entertaining and responsible gaming experience, while investing in the state through job creation and tax revenue.”
Plans are already in motion for the establishment of a 5,200 square-foot BetMGM Sportsbook at Sandy’s Racing & Gaming, a gaming and entertainment establishment worth $75 million located in Ashland. The driving forces behind this endeavour are Revolutionary Racing Kentucky and the Eastern Band of Cherokee Indians (EBCI). This venture doesn’t stop at sports betting, as Kentucky’s inaugural quarter horse racetrack and equestrian centre are slated for development on a sprawling 182-acre plot adjacent to Sandy’s. The first horse races are anticipated to commence in 2025.
Prentice Salter, CEO of Revolutionary Racing, voiced his satisfaction with this partnership, asserting that BetMGM aligns perfectly with their vision for a top-tier facility and online sports wagering experience for the state’s residents.
“We promised to bring a world-class facility to Ashland and wanted a world-class partner for online sports wagering across the Commonwealth and at our sportsbook lounge. We’ve got that with BetMGM.”
The anticipation surrounding Kentucky’s regulated sports betting market is mounting, with Governor Andy Beshear’s recent approval of emergency administrative regulations setting the stage for its debut in early September.
BetMGM, a subsidiary of MGM Resorts International, operates as a prominent American global entity in the realm of hospitality and entertainment. Revolutionary Racing Kentucky emerges as a venture with ambitious intentions, earmarking an impressive investment of $55 million for the establishment of a world-class equestrian center.
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