Published on: October 11, 2024, 03:31h.
Last updated on: October 11, 2024, 03:31h.
Circa Sports is taking a strategic approach to expanding into new states, with California emerging as a surprise jurisdiction of interest for the company.
In an interview with The Las Vegas Review-Journal, Circa co-founder and CEO Derek Stevens expressed interest in opening a brick-and-mortar sportsbook in California if the state approves sports wagering with an in-person registration requirement similar to Nevada.
Nevada stands out among states offering mobile sports wagering for requiring bettors to visit casinos in person to set up mobile accounts, a practice that experts believe is affecting sports betting revenue in the state.
Stevens believes that if California adopts a Nevada-like model, it could lead to job creation and significant investments through retail sportsbooks. Circa Sports currently operates in Colorado, Illinois, Iowa, Kentucky, and Nevada.
Potential Expansion of Circa Sports in California
If Circa Sports enters the California market, it is likely to do so through a partnership with a tribal gaming entity, as Native American tribes control the state’s casinos and hold gaming exclusivity compacts.
At the Global Gaming Expo (G2E) in Las Vegas, California Nations Indian Gaming Association (CNIGA) Chairman James Siva mentioned the possibility of sports betting appearing on the 2026 ballot, with a more likely timeframe of 2028. Tribes in the state are considering sports betting as a precursor to iGaming.
While Stevens did not elaborate on Circa Sports’ approach to working with tribal operators in California, such collaboration is necessary in the state.
Circa Sports has strong brand recognition in California and was not involved in a failed 2022 sports betting ballot proposition that strained relationships between commercial operators and California tribal gaming groups.
Expansion Plans for Circa Sports
Circa Sports is in the process of bringing its technology stack in-house, which may take another year to complete. Once this is done, the operator will consider entering new states, with California being a potential target.
In addition to California, Circa Sports has not disclosed future expansion plans. New York is unappealing due to its sports wagering tax structure, while Arizona and Michigan could be candidates for expansion based on favorable taxes.