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The once hazy and confusing image has now become slightly clearer as a key contender in the upcoming Michigan online casino industry has successfully obtained market access.
Golden Nugget Online Gaming has recently solidified its commitment to Michigan by announcing a significant partnership with the Keweenaw Bay Indian Community. Although some uncertainties persist, it is evident that Golden Nugget is fully dedicated to making strides in the state.
Details of the Ojibwa Casino deal with Golden Nugget
Both Ojibwa Casinos in Michigan’s Upper Peninsula are under the operation of the Keweenaw Bay Indian Community (KBIC). Additionally, the online casino and sports betting offerings from Golden Nugget are available in New Jersey and Pennsylvania. These two brands have decided to collaborate and unite their efforts in both regions.
Thomas Winter, Golden Nugget’s senior vice president and general manager of online gaming, expressed excitement about the partnership with Ojibwa Casino, which aims to offer a top-notch online casino and sportsbook experience to players in Michigan. He emphasized that Michigan players will enjoy the high-quality product offering and excellent customer service provided by Golden Nugget, a trusted and nationally recognized brand. This statement was made in a press release.
KBIC President Chris Swartz expressed his enthusiasm for the collaboration with Golden Nugget, as it will enable them to introduce online casino and sports betting to Michigan. Working alongside a reputable brand like Golden Nugget will greatly enhance their newly established casino in Marquette and their existing casino in Baraga.
Although Michigan’s commercial casinos are still closed and online sportsbooks have not been launched yet, the introduction of a retail sportsbook at either Ojibwa property would be greatly appreciated. However, it is unclear when either facility will be able to provide this amenity.
Both parties probably view sports betting as a minor aspect of their partnership. The true lucrative opportunity lies in online casinos.
Online poker, slots and table games could be a gold rush
Tilman Fertitta, known to sports fans as the owner of the NBA’s Houston Rockets, is also the proud owner of Golden Nugget. He holds a strong belief in the potential and worth of online gambling.
According to Fertitta, the value of an online gambler surpasses that of an online sports bettor by a factor of seven. He attributes this disparity to a combination of factors, namely the higher hold percentage and longer duration of gambling sessions. Additionally, Fertitta highlights the broader appeal of online casinos, attracting a wider range of people from diverse demographics.
Fertitta illustrates his point by using brick-and-mortar casinos with a retail sportsbook as an analogy. He suggests that if sports betting were as lucrative as casino games, a greater portion of the casino area would be allocated for the sportsbook.
Estimating the exact value of the online gambling market in MI is challenging, but one factor that makes it attractive is the limited competition compared to physical casinos and online sportsbooks. Golden Nugget has a chance to not just be the initial entrant in this specific field, but potentially the sole player for a considerable duration.
Fertitta’s determination to achieve his goals is evident through his willingness to invest. He plans to allocate $4 million to enter the market and is open to further spending of $13 million to secure a significant market share. Furthermore, the possibility of experiencing financial losses in the short term does not concern him.
Most Michiganders are now wondering when they can expect Golden Nugget online casino games to be available, but unfortunately, this announcement does not offer any answers.
Still no official timeline for iGaming launch
Fertitta currently has a more realistic expectation of early next year for launches, although October was initially considered with optimism.
As of now, the press release does not offer any new information regarding the current situation. The Michigan Gaming Control Board has yet to grant any licenses for online casinos.
Now that market access is assured, Golden Nugget can focus on obtaining the necessary license. The MGCB appears to be willing to cooperate fully to speed up the process, so obtaining the license should be relatively easy.
In the event of a smooth journey, residents of Michigan might have the opportunity to revel in the same array of online gambling options as their counterparts in NJ and PA in the upcoming months. And if these games attract a substantial following, Michigan could potentially become the epicenter of a modern-day gold rush.
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