One year ago, offsite sportsbook wagering was legalized for Arkansas’ three licensed casinos. Since then, Southland, Oaklawn and Saracen have all introduced mobile apps that allow players located in the state to wager on sporting events. From October (Oaklawn’s first full month with their app) through December, Saracen’s remote sportsbook generated 67% of the total statewide revenue. In the month of December, this number grew to Saracen being responsible for 71% of Arkansas’s revenue. This is in a market with three casinos each offering their own remote sports-betting apps.
Matt Harkness, General Manager of Saracen noted, “With the support and guidance of the Business Committee, we have become the market leader in this new segment. A lot of hard work by our staff has produced a product that is clearly favored by the customers over our competitors.”
The Chief Market Officer, Carlton Saffa said, “The State of Arkansas was a great partner in helping us get this product to market and give Arkansans what they were asking for, mobile sports wagering. We are all excited by the results and look forward to continued growth.”
Jim Burns, the Chief Financial Officer also noted, “The unique provision enacted by Arkansas regulators rightly requires that at least 51% of the revenues from remote sportsbook remain with the licensed casinos, the entities constitutionally authorized to book the bets. Today we are seeing much greater returns on these new revenues than we would see in a partnership with a national brand, one who would take as much as 95% for themselves. Going it alone has proven to be profitable.”
Harkness added, “I believe the success Saracen has seen with this new product bodes well for any future development at the property. We all appreciate the opportunity.”
The NFL’s big game was also a big day for Saracen’s remote sportsbook. Over $1.2 million across 35,000 wagers were placed for the championship game. Approximately 93% of the wagers were placed on mobile devices while the remaining 7% used a computer browser.