Massachusetts legalized sports betting in August, and with that, the attention has shifted from lawmakers to regulators. As the Massachusetts Gaming Commission (MGC) crafts rules and begins the licensing process, the Massachusetts sports betting market is starting to come into focus.
The MGC has asked interested parties to submit a Notice of Intent by Aug. 31, 2022. Thus far, 12 companies have submitted the document:
- Betr Holdings, Inc.
- Sportradar Solutions, LLC
- 888 US, Inc. (888 Holdings)
- PlayUp Interactive MA, LLC (Play Up)
- NYX Digital Gaming (USA), LLC
- Bally’s Interactive, LLC
- PointsBet Massachusetts, LLC
- Massasoit Greyhound Association, Inc. (Raynham Park)
- FBG Enterprises OPCO, LLC (Bet Fanatics)
- Crown Gaming, LLC (Draft Kings)
- GAN Nevada, Inc
- Wynn BET
Due to their land-based presence, several other companies are locks to enter the market. That list includes BetMGM, Barstool Sports, and Suffolk Downs.
And then there are the Caesars and FanDuels of the world, both likely to plant their flags in Massachusetts.
This article will explore the five land-based companies (three casinos and two racetracks) that will help shape the Massachusetts mobile and retail sports betting market.
Encore Boston Harbor
Encore is chomping at the bit for sports betting. The $2.5 billion property has a ready-to-convert space for its retail sportsbook and, of course, its WynnBET sports betting app.
How it will fare in Massachusetts is an open question. WynnBET hasn’t set the sports betting world on fire, with less than 1% national market share according to estimates in Eilers & Krejcik Sports Betting Market Monitor. There is some hope that its casino presence in Massachusetts will help, but the company doesn’t have anything approaching a significant market share in any of the nine locales it operates.
It could perform much better on the retail betting side. Encore Boston Harbor (in Everett, MA) is a 15–20-minute ride from Logan Airport and Boston proper. Further, Encore is a pristine, high-end property and one of the only destination casinos in a major US city outside Las Vegas.
The WynnBET Sports Bar is a bar in name only. It was built to be a ready-made sportsbook, with a sportsbook’s seating layout, betting windows, and 70 televisions, including a 10’ x 123’ video wall.
MGM Springfield
MGM is one of the biggest names in the legal US sports betting space, and with its Springfield property, the company will be a serious player in the Massachusetts market on both the retail and mobile side.
Along with FanDuel and DraftKings, BetMGM has separated itself from the pack as a top-tier US sports betting operator. MGM can leverage its Massachusetts casino database and offer perks and rewards to its Springfield property to its online customers. The latter is a luxury DraftKings and FanDuel don’t possess in the Bay State.
As a retail betting destination, the MGM Springfield casino has the entire western part of the state all to itself. As such, it can draw from Connecticut, with Springfield about 15 minutes from the Nutmeg State’s border. It can also attract bettors from New Hampshire, Vermont, and New York – MGM Springfield is an hour or so from each state’s border.
Springfield is not quite the destination that Boston is, nor is the MGM sportsbook space on the same level as Encore, as it comprises 70 theater-style seats and a 45’ video screen. Still, MGM could be a destination for sports bettors uninterested in driving to Beantown.
Plainridge Park Casino
Owned and operated by Penn National, Massachusetts could be Penn’s best chance to become a market leader.
Massachusetts is Barstool Country. The Barstool brand will resonate more in Massachusetts than any other locale (the company was Massachusetts-based for most of its existence) due to its local roots and a rock-solid reputation for fundraising and community outreach.
Barstool and Penn have their sights set on being a major national brand, but thus far, they have found themselves in the second tier, in fifth place nationally, per EKG’s estimates. That said, Barstool is a distant fifth with about a 3% market share. That’s a long way from FanDuel’s market share of more than 40%, or even the near 10% market share of number four ranked Caesars.
On the retail side, it’s a classic case of good news-bad news. As a Racino, Plainridge already has a massive dedicated racebook area. That’s the good news. The bad news is the space is old, outdated, and in desperate need of a remodel for it to become a comfortable space to watch a game and place bets.
Suffolk Downs
The former thoroughbred track in East Boston morphed into a simulcasting-only facility after being passed over as a potential casino landing spot. Boston residents rejected the proposal in 2013, sealing the facility’s fate. In the ensuing years, Suffolk hosted only a handful of live racing days each year, with the last racing schedule occurring in 2019.
Suffolk Downs is a 10-minute ride from Logan International Airport, but a major redevelopment is required if the facility wants to attract visitors.
Suffolk Downs’s best opportunity in the sports betting space is leveraging its single online license and forging an online-retail partnership with an established brand.
The big question is, who might that be?
As a simulcast facility, Suffolk Downs already has a relationship with FanDuel through its TVG and FanDuel Racing ADW partnerships. Suffolk also has a second albeit tangential connection with FanDuel, as FanDuel is partnered with Mohegan Sun in Connecticut, and Mohegan Sun was Suffolk Down’s partner in its casino bid.
Raynham Park
Raynham Park’s fate was sealed when Massachusetts voters banned greyhound racing in 2008. The last race at Raynham Park was held on December 26, 2009, with the former greyhound racetrack now operating as a simulcasting facility.
Raynham Park is located in the southeast portion of Massachusetts, about 45 minutes outside of Boston. Needless to say, Raynham Park is unlikely to be a retail sports betting destination. That said, the facility isn’t in a gambling desert. Raynham Park is 20 minutes from Plainridge Casino and about 30 minutes from Bally’s Tiverton, RI casino.
Like Suffolk Downs, Raynham Park’s ability to capitalize on legal sports betting will come down to its online partner and offerings.
