Ohio sports betting is finally here! On Jan. 1, 2023, Buckeye State will open its doors to legal wagering on professional and college sports. And Caesars is hoping to be one of the first in line to take your bets.
The company has a long history in Ohio, dating back to when it sold most of its properties in the state back in 2015. But now, with Scioto Downs as its only remaining property, Caesars is looking to make a comeback in the Buckeye State.
Caesars 2015 Exit in Ohio
Caesars Entertainment has been one of the major players in Ohio Casinos, however, the 2015 events changed the market and led to Caesars letting go of most of its properties.
It started in early 2015 when the well-known entertainment company filed a Chapter 11 Bankruptcy. This had a domino effect as Caesars eventually sold its 20% interest on Horseshoe Cleveland, Horseshoe Cincinnati, and Thistledown Racino. This marks the end of their ties with Dan Gilbert and Rock Gaming.
Rock Gaming bought the shares and rebranded to JACK Entertainment. In that same year, Caesars announced their exit as the operators of those properties and Scioto Downs will be the only property that they had in the state.
Caesars Ohio Sportsbook
As the sports betting industry gears up for its launch in Ohio, Caesars Sportsbook is positioning itself to be a major player in the market. The new industry gives Caesars the chance to recapture the minds of the state’s bettors once again.
The company has already secured conditional approval from the Ohio Casino Control Commission for its sports betting license and it is widely expected to be a leading provider of sports betting services. It partnered with its very won Scioto Downs for Online and retail sports betting operations while it also has a deal with the Cleveland Cavaliers for the Cuyahoga location.
However, the success of Caesars Sportsbook will ultimately hinge on its ability to effectively market its services to potential customers. With so many options set to become available on Jan. 1, Caesars will need to stand out from the pack to attract bettors.
The presence of FanDuel will surely affect the choice of bettors as it has a reputation to be the leading sportsbook in the US. BetMGM and DraftKings will also be available which are some of the sportsbooks to follow FanDuel in reaching a profitable period.
The company’s marketing strategy will be crucial in determining how successful Caesars Sportsbook ultimately becomes in Ohio. It has a lot of experience in the gambling industry, and they are already a well-established brand.
In addition, Caesars has a strong marketing team that is sure to make the most of the opportunity to promote its sportsbook in Ohio. With all of these factors working in their favor, Caesars is in a good position to succeed in the newly opened Ohio market.