This news about Grand Central (home of regular Fireball discounts!) provides a look at one of the positives to come out of a mostly negative Washington, DC #sportsbetting system.
DC has had a lot of problems with their sports betting roll-out, primarily due to the use of Gambet and their abysmal app. However, one interesting aspect of DC sports betting is the three tiers of licenses:
1) A city-wide license that went to Gambet (soon to be FanDuel) had the city wide mobile app,
2) individual major sportsbooks had licenses that covered a given sports facility plus two blocks around them (Caesars at Wizards/Capitals arena, BetMGM at Nationals stadium, FanDuel at DC United stadium), and
3) anybody else could effectively launch their own sportsbook within their business.
The third option has opened the door to an entrepreneurial spirit you don't see in a lot of jurisdictions. A lot of local bars/restaurants went with a joint William Hill experience. Grand Central went a different direction and started their own sportsbook. In January this year, they did $326,778.73 in handle and $49,094.67 in GGR. A little bit of context: they paid $100,000 for a 5-year class B license.
Here's their GGR numbers for this recently completed football season, excluding February:
Jan: $49,094.67
Dec: $72,626.66
Nov: $56,065.74
Oct: $22,392.19
Sep: $98,930.29
Would love to see them continue growing!
https://lnkd.in/enBzuNs2
CMO at Mountain Mike's Pizza, LLC
1w👏👏👏👏👏👏