The Sports Wagering Application Review Commission (SWARC) will vote tomorrow on awarding licenses for three more Maryland sports betting applicants, two for mobile betting and one for a Class B retail sports wagering facility.
All three applicants were found previously to meet qualifications for licensing by the Maryland Lottery & Gaming Control Commission.
The SWARC will vote on Bally’s Interactive Maryland, LLC, and WSI US, LLC (WynnBet) for mobile licensing, and on Long Shot’s Hagerstown, LLC, for a retail sports license.
Maryland launched online sports gambling on Nov. 23 with seven operators taking bets. Meanwhile, retail sports wagering has been ongoing in the state since December 2021.
The licensing process in Maryland includes the Lottery & Gaming Control Commission voting on an applicant being qualified for a license, predicated on the findings of the Lottery & Gaming Control Agency and the “awarding” of the license by SWARC, which considers the suitability of an applicant. Finally, an applicant returns to the Lottery & Gaming Control Agency in a final phase that includes a controlled demonstration of operations and procedures.
What to Expect Tomorrow
At the SWARC meeting, the commission will hear from its consultants, Taft/Spectrum, regarding the three applicants. Both Bally’s Interactive and WynnBet Maryland are familiar operators in other jurisdictions. Long Shot’s, a local woman-owned business, is already operating an associated retail sportsbook in Frederick along with BetFred.
It should be noted that, along with the seven online sportsbooks that began taking wagers on Nov. 23, three other operators also had been “awarded” licenses by the SWARC but have not, so far, completed the final phases required for being “issued” a license by Lottery & Gaming.
Financial Projections by Consultant
Taft/Spectrum, consultants to the SWARC, have prepared a financial summary that projects gross gaming revenue and taxes over a five-year period predicated on the assumption that 12 mobile operators are taking wagers — the seven currently active, the three who were “awarded” licenses by SWARC but are not yet active, and the two operators that come in front of the SWARC tomorrow.
Those financial projections (assuming 12 operators) for the nearer term are a cumulative gross gaming revenue (GGR) for mobile sports gambling in 2023 of $184.6 million and taxes to the state of $27.5 million. Longer-term, the projections for 12 mobile operators in 2027 are GGR of $547.6 million and taxes of $105.9 million. Given the assumptions, the projected total tax collections for all operators for the entire five years (2023-2027) is $341 million.
The seven operators who already have launched mobile sports betting in Maryland are: Live! Casino Mobile (with FanDuel); DraftKings/Crown MD; BetMGM; Hollywood Casino Mobile; Caesars Maryland; Riverboat on the Potomac Mobile, and BingoWorld/Arundel Amusements.
Check this site for BetMGM Maryland bonus codes and for those from the other operators.
The Class B retail license the SWARC will be voting on, Long Shot’s Hagerstown LLC, will be for a retail sportsbook located near Valley Mall off of Interstate 81 in Hagerstown. It is currently a restaurant that will be converted to a new complimentary dining facility.
