Caesars seals first retail sportsbook deal in Massachusetts

Caesars Entertainment has revealed plans to launch a new retail sportsbook in Massachusetts with simulcasting facility Raynham Park.

The partnership marks Caesars' first in-person foray into the Bay State and includes the eventual opening of a 30,000-square-foot Caesars Sportsbook retail location, which will become one of the largest free-standing race and sports wagering facilities in the United States.

“Raynham Park is in an excellent location in southeast Massachusetts and will be one of just a few retail sports betting locations in the Commonwealth,” said Caesars Digital president Eric Hession. “It's great to partner with the Carney family, which has a long history in the community and an exciting vision for a tremendous sports entertainment and pari-mutuel simulcasting facility.

“We look forward to showcasing the Caesars commitment to world-class experiences through this partnership.”

Located just south of Boston, Caesars Sportsbook at Raynham Park plans to open as a temporary sportsbook inside the current simulcasting facility before later to a state-of-the-art sportsbook, as part of a new building expected to be complete by the middle of this year.

“Caesars Sportsbook is the strongest retail sports gaming brand in the industry and we are extremely proud to announce our partnership,” said Raynham Park owner Chris Carney. “Our sportsbook will be one of the largest sports gaming destinations not only in Massachusetts, but in the United States.

“With Caesars' legendary commitment to quality and integrity, Raynham Park will be a world-class venue that will set a new standard for gaming in Massachusetts.”

In addition to in-person sports wagering and horse racing simulcast wagering at Raynham Park, Caesars Sportsbook will also launch online when mobile sports betting goes live later this year.

Caesars Sportsbook was one of several operators to have been found to have met the eligibility requirements for a temporary mobile sports betting license by the Massachusetts Gaming Commission.

Originally founded as a greyhound racetrack in 1940, Raynham Park was one of the top-grossing racetracks in the US for decades, setting an annual betting handle record of $240m in 1989.

Since losing greyhound racing in 2009, the facility has remained open as a simulcast-only betting parlor with an annual betting handle of approximately $20m.

Shares in Caesars Entertainment Inc (NASDAQ:CZR) closed 1.31 per cent higher at $52.53 per share in New York Thursday.