Local reports out of Ohio claim that BetMGM and the Cincinnati Reds are looking to move their retail sportsbook location to improve performance.
Cincinnati outlet WCPO has reported that the sportsbook located at the Machine Room at Great American Ball Park will be moved to an alternative location.
Reports state that the sportsbook will be relocated to the corner of Second Street and Joe Knuxhall Way to increase footfall and the number of patrons placing bets.
The current sportsbook is one of the lowest-ranking Type A retail licensed sportsbooks, per the OCCC’s revenue releases, therefore BetMGM and its license partners are seeking alternatives to improve this record.
In the OCCC’s revenue reports between January, when the market launched, and April – the latest release – for retail licensees, the sportsbook failed to generate any revenue from the $604k it handled in bets. $608k has been paid out in winnings while $4k has been voided.
Meanwhile, on the online side of the market, BetMGM is the third largest operator in terms of handle, taking $38.1m in bets during April. Some way behind FanDuel ($184.6m) and DraftKings ($161.3m), BetMGM is just ahead of bet365 ($36.9m).
However, the British sportsbook bet365 is making strides in Ohio and actually bested BetMGM in terms of gross revenue. That is despite BetMGM spending $2.9m in promo credits, though it is worth noting bet365 is spending big on promos, outlaying $5m itself.
Whilst it maintains a strong online performance, it looks as though the Entain/MGM JV vehicle will be seeking an alternative strategy to improve its retail performance, with land-based sportsbooks and kiosks playing a big part in the Ohio model.
