Another applicant interested in joining the online Maryland sports betting market will be up for a qualifications vote by the Maryland Lottery & Gaming Control Commission Thursday, according to the commission’s agenda.
The vote will be whether to find Queen Sportsbook Maryland LLC qualified for a Mobile Sports Wagering License and an Online Sports Wagering Operator License. Being found “qualified” is one of the steps in the application process for mobile wagering applicants in the state.
There are nine Maryland betting apps currently taking wagers.
The most recent sportsbook to launch is SuperBook Maryland, which launched April 11. There are also 10 sports wagering facilities doing business in the state.
A Familiar Name in Application
While the corporate name of Queen Sportsbook Maryland LLC might not be familiar, Soohyung Kim – a notable figure in gaming – is key in the overall corporate picture.
The corporate organization network is as follows, according to Lottery & Gaming staff, in its memo to the commission:
“Queen Sportsbook Maryland LLC is owned 95% by Casino Queen Interactive, LLC which is a wholly-owned subsidiary of The Queen Casino & Entertainment, Inc. (formerly known as CQ Holding Company, Inc.). SG CQ Gaming, LLC is the ultimate parent company and sole owner of the outstanding stock of the Company. SG CQ Gaming was formed in Delaware on June 3, 2019, and Mr. Soohyung Kim holds an indirect majority ownership interest in the Applicant, primarily through his ownership of SG CQ Gaming.”
Kim is on the board of directors for Bally’s Corporation (and that company’s preceding entity, Twin River Worldwide Holdings). He’s also a founding partner of the investment firm Standard General L.P.
Kim was an advocate on behalf of Bally’s as that company became the winning suitor to build a casino resort in Chicago.
Queen Sportsbook Maryland LLC is a subsidiary of The Queen Casino & Entertainment Company, which operates casinos in Iowa, Illinois, and Louisiana (two) as well as retail and online sportsbooks.
If an applicant for mobile sports gambling licensing is found “qualified” by the Lottery & Gaming Commission, that information is passed to the Maryland Sports Wagering Application Review Commission (SWARC), which votes whether to “award” a license. An awardee then returns to Lottery & Gaming for final approval. After successfully completing a controlled demonstration of operations and adherence to state regulations, the applicant is then “issued” a license and can start accepting wagers.
Also, on tomorrow’s Lottery and Gaming agenda, is a vote on matters related to the sale of Rocky Gap Casino Resort to Century Maryland Acquisition Inc.
Last year, it was announced that the Rocky Gap casino in western Maryland, one of the smaller of the state’s six casinos, was being sold by Golden Entertainment to Century Casinos and real estate investor VICI Properties.
In addition to staying on top of sports betting news in the state, BetMaryland.com provides the best Maryland sportsbook promos.
