Circa Sports: Expanding Horizons in the World of Sports Betting
In the vibrant heart of downtown Las Vegas, Circa Resort & Casino has emerged as a sanctuary for sports enthusiasts. Co-owner Derek Stevens has not only established a premier destination for fans but is also setting his sights on future opportunities that could reshape the sports betting landscape. With plans to expand Circa Sports’ mobile betting app into new markets and a potential retail location in California, Stevens is poised to make significant strides in the industry.
The Vision for Circa Sports
Since its grand opening in 2020, Circa Resort & Casino has quickly become synonymous with sports betting in Las Vegas. The property boasts what Stevens proudly calls “the world’s largest sportsbook,” a sprawling venue that caters to both casual fans and serious gamblers. Complementing this is Stadium Swim, an innovative outdoor sports viewing area featuring six heated pools and a massive 40-foot high-definition screen, creating an unparalleled atmosphere for watching games.
Stevens has emphasized that Circa Sports is committed to developing its own in-house technology before expanding its mobile betting app into additional states. Currently operational in Nevada, Colorado, Illinois, Iowa, and Kentucky, the brand is focused on ensuring that its technology meets the highest standards before entering new markets. “We’re currently in the process of developing our own tech. We’re going to wait until our tech is completed before we launch in any additional states,” Stevens explained during an exclusive interview at the Global Gaming Expo.
The Challenge of Technology Development
While Stevens is enthusiastic about the future, he acknowledges that the development process is taking longer than anticipated. “We’ve been working on this project for a year, and we’re still probably a year away,” he said. The meticulous approach taken by the development team is aimed at delivering a superior product, even if it means a longer wait for expansion.
The challenge lies not only in the technology itself but also in navigating the complex regulatory landscape that varies from state to state. Stevens pointed out that the current tech being used is not up to par with what he envisions for Circa Sports, and he is determined to launch only when the technology is fully ready.
Competing in a Crowded Market
Despite the success of Circa’s retail sportsbook, translating that success to the online realm has proven challenging. The mobile sports betting market is dominated by established giants like FanDuel and DraftKings, making it difficult for newer brands to carve out a significant share. Additionally, the regulatory requirements across the United States create a patchwork of challenges that can hinder market access for operators like Circa.
Stevens has voiced concerns about the regulatory environment, particularly in states that allow for remote registration and funding. He believes that such policies can deter investment and job creation in the industry. “You’re never going to get other investors to invest tens of millions of dollars and create jobs if you’ve got remote registration and remote funding,” he stated, highlighting the need for a more conducive regulatory framework.
The California Opportunity
One of the most promising markets on Stevens’ radar is California, which is considered one of the largest untapped sports betting markets in the U.S. Following the defeat of two significant measures to legalize sports betting in California in 2022, the gaming industry has been working to rebuild relationships with tribal leaders who wield considerable influence over gambling policy in the state.
Experts at the Global Gaming Expo indicated that California voters might have another opportunity to legalize sports betting as early as 2026, although 2028 is seen as a more realistic timeline. Stevens is keenly aware of the potential impact of California’s regulatory decisions on the sports betting landscape. He believes that if California were to adopt regulations similar to those in Nevada, which require in-person registration for mobile betting apps, it could lead to substantial investments in retail properties.
“If California does not have remote registration, then you might see some massive investments that could create a lot of jobs, and we would be the first ones who would do it,” Stevens asserted, emphasizing the potential for growth in the state.
The Future of Circa Sports
As Stevens and his team continue to refine their technology and explore new markets, the future of Circa Sports looks promising. With a focus on delivering a top-notch product and navigating the complexities of the regulatory landscape, Circa is well-positioned to expand its footprint in the sports betting industry. The combination of a strong retail presence in Las Vegas and the potential for growth in states like California could solidify Circa Sports as a formidable player in the competitive world of sports wagering.
With the Stevens brothers at the helm, Circa Sports is not just about betting; it’s about creating an experience that resonates with sports fans and elevates the overall landscape of sports entertainment.