Caesars looks for opportunity in sports betting legalization

Caesars Entertainment CEO Mark Frissora says the company is in the best position to take advantage of the recent legalization of sports wagering in the U.S.

“We’re excited because we’re in the best position to take advantage of it. We’ve been very focused on digital and mobile and this plays right into it,” said Frissora in an interview with CNBC last week.

“One of the states we are already is Nevada. So we’ve been doing this for a while. We are excited also about at the size of the opportunities.”

Mark quoted AGA in that illegal sports betting is at around US$150 billion per year, which will expand with in-play business.

When asked whether the legalization of sports betting will lead to further risks of match-fixing, Frissora says that he expects the issue to be further resolved in a legalized environment.

When asked how Caesars will benefit from its established sportsbook in Nevada, the CEO said the company is aiming to duplicate in all the states that allow sports betting.

“We have that capability, we also sold a company called Playtika, which was a large social mobile platform game, which we sold for $4.4 billion and we still have that core capability in-house.”

“So we can set up very quickly for the states that pass legislation,” he added.