Wynn’s Encore gets first Massachusetts sports wagering license

The Massachusetts Gaming Commission (MGC) has approved the state’s first sports betting license, with the award going to Wynn Resorts’ Encore Boston Harbor.

The MGC said the approval for the Category 1 sports wagering operator license was unanimous.

The MGC aims to begin retail sports wagering at the three casinos in the state that are eligible for a license in January. 

Meanwhile, the MGC said it will hold a public hearing on Monday, Dec. 12th over the five applications for Category 3 Sports Wagering Licenses tethered to Casino Licensees.

The hearings are designed to give the public an opportunity to comment on the five existing applications.

These have been put forward by Caesars Sportsbook and WynnBet, which would both be tethered to Encore Boston Harbor. BetMGM would be tethered to MGM Springfield, while Fanatics and Penn Sports Interactive would be tethered to Plainridge Park Casino. 

Massachusetts Governor Charlie Baker signs a sports betting bill into law on August 10th. All told, the law permits up to 15 online sports licenses, but eight of those will be tied to a physical casino. 

Since the U.S. Supreme Court struck down a ban on sports betting in 2018, more than half of the states have either introduced sports betting legislation, or are in the process of doing so.

Among the major holdouts is California, whose citizens voted against two proposals that would have opened up sports betting in the state in two propositions introduced on the ballot in the mid-term elections. 

The lobby campaign both for and against broke spending records. 

Despite the enthusiasm over the potential size of the U.S. sports betting market, competition has been fierce and many firms have struggled to make money given the high marketing and customer acquisition costs.