Paddy Power prepared to gamble on Nevada licence
WITH BRITAIN’S William Hill having bagged a sports betting licence in Nevada last week, attention is now focused on Paddy Power, which itself has applied for a licence in the US state.
The Irish bookmaker has made no secret of its interest in the US market if the right opportunity presents itself and has a business development team on the ground.
Sports betting is still largely prohibited in the US. Just four states – Nevada, Delaware, Montana and Oregon – issue licences.
A wider application of sports betting in the US could be a game-changer for bookmakers on this side of the pond. But such a move is probably some way off in the distance.
Interestingly, Paddy Power ran the rule over two of the three US companies that William Hill acquired, subject to gaining the Nevada licence, but walked away from potential deals.
Paddy Power’s focus would be more on casinos in New Jersey and poker in California.
The Irish bookmaker has shown good form over the years in overseas markets – the UK, France and Australia among them – and its online business has a strong track record.
Cracking the US would move it on to another level.
Securing a licence in Nevada in the coming months would be helpful in establishing its credentials locally.