Caesars Sportsbook at Raynham Park Experiences Delay Due to Suitability Issues
George and Chris Carney, the father-son owners of Raynham Park, are aiming to introduce a Caesars Sportsbook to their former greyhound racetrack. However, their plans for sports betting are being held up by the Massachusetts Gaming Commission (MGC).
Raynham Park closed down its live greyhound racing on January 1, 2010, following a state referendum banning dog racing. The facility then operated as an off-track betting business, allowing wagering opportunities on races held outside Massachusetts. But with a new law coming into effect on August 1, 2023, greyhound wagering is now prohibited in the state, regardless of where the race occurs. This has put a strain on Raynham Park, which continues to offer bets on thoroughbred and harness racing as well as simulcasts. To give the deteriorating racetrack a new lease on life, the Carneys believe adding a sportsbook would be the best option.
In January, the Carneys announced a partnership with Caesars Entertainment to bring the Las Vegas Strip casino giant to southeastern Massachusetts. Chris Carney, the younger of the two, has a long history with Dan Shapiro, Chief Development Officer for Caesars Digital. The two of them played a significant role in the decision to bring the well-known casino and sports betting operator to the Raynham Park racetrack, which is situated approximately 30 miles south of Boston.
Suitability Challenges
In June, the Carneys and Caesars Sportsbook applied for a Category 2 sports betting license with the MGC, a process that involves a $200,000 non-refundable fee for regulatory expenses. Determining the suitability of the major stakeholders behind the sportsbook is a crucial aspect of the application review process, yet the MGC doesn't make these decisions public.
A problem that arose in approving Chris Carney led to several delays in the vote on the Raynham Park/Caesars Category 2 license. The Carneys now intend to revise their submission by excluding Chris from the application.
Although the Carneys claim that Chris won't have any financial involvement in the sports betting operation, officials from the MGC, including Loretta Lilios, Director of the Investigations Enforcement Bureau, maintain that the younger Carney is still "deeply involved" with the business.
The MGC postponed its decision on the Raynham Park Caesars Sportsbook application during their most recent meeting on August 3, with the next chance to vote expected on August 18.
Sportsbook Information
The Carneys initially planned to have the Caesars Sportsbook open in time for the upcoming NFL and college football seasons. This timeline has been significantly affected by the MGC's delays.
Caesars has proposed constructing a separate building nearing the old greyhound track, occupying around 60,000 square feet. As per earlier plans, the Carneys would finance the $28 million investment. The proposed facility would have space for up to 2,000 individuals, including those standing.
Caesars is already active in the Massachusetts sport betting market through its joint venture with Wynn Resorts' Encore Boston Harbor. The three casinos in the state hold Category 1 licenses, enabling them to operate both in-person and online sports betting, with each casino being permitted to operate two online platforms.
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Source: www.casino.org
