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Loved the Badgers, even though they were facing an Oregon team that had won eight straight and played its way into the field by winning the Pac-12 Tournament. A potential casino in Amish country divides a rural Pa. community But before jumping on Wisconsin, which started at 4:30 p.m., he put $3,500 on Cincinnati to beat Iowa in the early block of games. Cincy had won the American Athletic Conference Tournament the previous weekend and when the Bearcats jumped out to an 18-5 lead, it looked like a fine start to the day. Then Iowa shot 65 percent from the field in the second half and roared back to win by seven. No problem, right? Still had Wisconsin starting in 90 minutes. When our guy went back to put another $3,500 on the Badgers, he was told his limit had been cut to $2,800, essentially telling him that if he wanted to recoup the $3,500 he lost on Cincinnati, he’d have to win two games. Casinos may impose limits at their discretion to limit their liability.
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Eldorado more recently agreed to sell off assets in West Virginia and Missouri to Century Casinos, which will shrink its footprint to 11 states. Still, its standalone portfolio is worth around $4 billion. Like Caesars, Eldorado seems to have big ambitions for sports betting. In September 2018, the company acquired 20% of William Hill US in exchange for market access across its portfolio. While William Hill powers its existing retail operations, Eldorado subsequently entered into another big partnership with The Stars Group. TSG has since taken on investment from Fox, so the merged company will control the deployment of the new Eldorado currently has sportsbooks in four states too, including West Virginia. Both companies have taken independent steps to create a US sports betting empire, and their combined portfolio reaches into seven legal states: Even without West Virginia, the new Caesars entity will have better access to US sports betting than any of the competition. What exactly that sports betting product will look like is anybody’s guess, but Eldorado’s CEO did provide some clues to investors. Here’s Reeg, responding to a question during the merger call on Monday: “We bring the William Hill and The Stars Group access partnerships. Caesars has a plethora of sports partnerships, including league partnerships, team partnerships, ESPN… and we see them all fitting together.
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