Philadelphia has long been very friendly to sportsbooks – six of the Keystone State’s sports betting facilities are located either inside or outside the city’s area. A seventh sportsbook is now headed for the area courtesy of the Stadium Casino-operated Live! Casino & Hotel.
Even though Stadium Casino, LLC is yet to apply for the $10 million sports betting license in the state, the operator has already made their pitch during for a sportsbook that is expected to go live in December 2020. One of the company’s representatives pointed out during the presentation that what they are planning is going to be more than just a sports betting parlor but a place where patrons will be treated to a plethora of great offerings and entertainment as well.
As it stands, it is quite difficult to tell whether or not the company intends to follow through on the casino plan especially considering all the hurdles and setbacks it is bound to face once it sets the ball rolling on the sports betting venture. First off, in addition to the cost of the sports betting license, the casino will have to contend with the 36 percent tax rates that is imposed on sports books in the states – this is the highest rate in the United States. However, this information has been on the public domain for a very long time and perhaps Stadium Casino is prepared for it.
Another concern for the sportsbook pertains to the heated competition that is already being seen in the state’s sports betting landscape. In essence, it is very unlikely that the Live! Casino and Hotel sportsbook will get the same reception that some of its competitors have gotten in the recent past. Furthermore, the state’s online sports betting industry is set to go live later this month and this will prove to be a challenge even for the already established sportsbooks.
Still, there is a possibility that the sportsbook will offer something appealing enough to draw people to it. Part of the operator’s plans to achieve this will be through a sportsbook that is connected to a sports bar. According to the casino’s representatives, the hotel and casino, which is expected to reside within the sports stadium district, will become the “premier sports, entertainment, gaming hospitality destination in the US.”
License Renewal
The Live! Casino Hotel Philadelphia hearing was not just about declaring its sports betting bid though. In fact, the main agenda was the renewal of the casino’s 5-year Pennsylvania gaming license. Unsurprisingly, there is very little doubt that the Pennsylvania Gaming Control Board will renew the casino’s licenses – it is a huge contributor to the state’s gambling tax revenue which makes it a very valuable player in the states gambling landscape and its economy as a whole.